The Danish shoe brand is pleased with its business results for the 2017 year despite the current difficult situation in the retail market, writes worldfootwear.com.
The Danish brand feels the influence of rapidly changing fashion coupled with the active development of e-commerce. All this has a significant impact on the retail business, but thanks to intensive work to adapt the business to a changing environment, the company can ascertain positive results.
ECCO's pre-tax profit in 2017 amounted to 184 million euros, with revenue of 1,276 million euros, compared with pre-tax profit in 2016 which amounted to 170 euros. Taking into account currency fluctuations, profit growth amounted to about 10%.
The most active business growth of ECCO was observed in the Asian region. By the end of 2017, 35% of the group’s net profit came from countries in the Asia-Pacific region. While the American continent accounted for 22%, and the region of Europe, the Middle East and Africa (EMEA) accounted for 43%. In 2017, traditional and online retail grew by 21%, while the growth in online sales was 47%.
“As a global brand with a wide retail portfolio and an increasingly active online presence, we have good opportunities to make money in new conditions when consumers search for products and make purchases using different channels,” said ECCO Executive Director Steve Borholm.