Ecco reported sales in 2018 rose 3.1 percent to €1.31 billion from €1.27 billion in 2017. Profits before tax advanced 9.2 percent to €201 million from €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,” said Ecco’s CEO Steen Bogholm in a statement.
Direct-to-consumer sales continued the fast growth of previous years and recorded a 10 percent growth in retail and 36 percent in online sales. In particular, North America and Asia recorded strong overall market growth with 13 percent and 11 percent, respectively. More than 50 percent of Ecco’s shoes were sold in concept stores – online and offline.
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“In a year Ecco connect with millions of consumers. We still have a lot to do to take full potential of this in our marketing, sales and operating model. Further investments in the development of new products will continue and help us generate sustainable and healthy growth for Ecco also in the years to come,” stated Borgholm.
