Ecco Reports Record Sales and Profits for 2018
Ecco had a very good year in 2018—achieving record sales and reaching the highest profit in its 55-year history. Net sales reached € 1.31 billion and profit before tax reached € 201 million (2017: € 184 million).
“It is very satisfactory for the employees to see all their hard work and enthusiasm rewarded with such a good result; particularly when taking into account that the retail industry is going through a disruptive period and is facing many challenges,” states Steen Borgholm, CEO.
True to Ecco’s DNA, several new innovative products, within both the shoe and the leather divisions, were launched in 2018. In particular, North America and Asia recorded strong overall market growth with 13 percent and 11 percent, respectively. Direct-to-consumer sales continued the fast growth of previous years and recorded a 10 percent gain in retail and 36 percent in online sales.
“We still have a lot to do to take full potential of this in our marketing, sales and operating model,” Borgholm adds. “Further investments in the development of new products will continue and help us generate a sustainable and healthy growth for Ecoo in the years to come.”
An Ecco highlight of 2018: the launch of the VitrusInternational Agenda Collection—seven days, seven countries, seven limited-edition shoes.