Sales at high-end notebook maker Moleskine jumped 10.4% to €61.5 million ($83 million) in the first nine months of 2013.
This strong growth was underpinned by Moleskine’s new retail strategy and its direct B2B and e-commerce sales, which accounted for about 80% of the sales increase. Moleskine now has 20 of its own stores worldwide and seven more openings are expected by the end of the year.
Moleskine’s largest sales channel by far – accounting for almost 80% of revenue – remains its wholesale distribution network, and this grew almost 2% to €48.4 million during the nine months to 30 September.
Despite higher operating costs related to its retail and e-commerce strategies, Moleskine’s adjusted EBITDA was relatively flat at €24.3 million, although adjusted EBITDA margin slipped to 39.4% from 44.2% a year ago.
The company said it expected its growth trend to accelerate in the fourth quarter thanks to the impact of the newly opened stores and better exposure to the end-of-year holiday period.
Source: By Andy Braithwaite, www.opi.net, Milan