Fashion
Belstaff sales dip but losses narrow as margins rise
Published
October 1, 2025
Belstaff International Limited’s accounts for 2024 have been filed and show its sales falling again, this time by 5.2% after a 3.6% drop in the previous year. Turnover for the latest financial year was £54.6 million.
That said, the gross margin percentage rose healthily to 28.1% from 25.9% while gross profit increased to £15.35 million from £14.93 million the year before.
Operating profit at the company dropped sharply to £593,246 from £2.123 million due to the prior year benefiting from a provision release in relation to a store lease that it surrendered early and foreign currency revaluation gains on inter-company loans. But the fall was partially offset by the stronger gross profit following improvements in margin and lower administration expenses.
The final profit figure was actually a loss of £15.9 million, which was actually narrower than the £18.3 million loss in 2023.
In the accounts, the company said the business objective is to grow both revenue and profitability, which begins with a renewed focus on brand image and heritage. This has been supported with a refreshed visual identity, new product categories and new technical fabrics.
The existing store portfolio is also being refurbished in line with this new design while new opportunities have been identified in strategic, brand-related locations (only last month that opened a new store at Victoria Leeds). The wholesale customer portfolio is also being constantly monitored.
And of course, we can’t ignore the fact that, in August this year it was announced that the Belstaff brand was being acquired by dynamic, sports-focused growth business Castore from existing owner Ineos (which also took a stake in Castore).
So there’s clearly plenty of potential for the brand to expand in the year (and years) ahead.
Copyright © 2025 FashionNetwork.com All rights reserved.
By
Reuters
Published
January 12, 2026
Revenues at Italian luxury group Brunello Cucinelli rose 11.5% at constant exchange rates last year, in line with its most recent guidance, boosted by solid growth across all regions, and particularly in the Americas and in Asia.
The cashmere brand, the first in the luxury sector to report 2025 preliminary sales, said on Monday its revenues rose to 1.41 billion euros ($1.65 billion) last year and reaffirmed that revenues would increase by 10% in 2026.
The company, which stands out in a luxury sector hit by slowing demand thanks to its focus on wealthier consumers, reported a 11.9% increase in turnover in the fourth quarter alone. Both the retail and wholesale channels contributed to the sales growth, though the latter at a more moderate pace.
In December, Cucinelli, whose cashmere jumpers can cost several thousand euros, raised its revenue growth forecast for 2025 to between 11% and 12% at constant exchange rates. The business has also recently confirmed its strong emphasis on the wholesale channel, seeing it as a good sales driver despite the challenging retail landscape.
© Thomson Reuters 2026 All rights reserved.
Published
January 12, 2026
US eyewear group VSP Vision, headquartered in Rancho California, has announced the appointment of Nicola Zotta as president of eyewear and managing director of both Marchon Eyewear and Marcolin. Following VSP Vision’s acquisition of Marcolin, completed last month, Zotta will lead the integration of Marcolin and Marchon, two groups that are global leaders in the design, production, and distribution of eyewear.
“Nicola uniquely combines Italian roots with leadership experience in the US, a proven ability to drive growth, and a deep understanding of, and alignment with, our commitment to all stakeholders,” said Michael Guyette, president and CEO of VSP Vision. “In this new chapter for our eyewear business, we are confident that his guidance and vision will enable us to bring our customers the very best that Marchon and Marcolin can deliver together.”
Zotta succeeds Fabrizio Curci, who has chosen to step down after serving as CEO and general manager of Marcolin since June 2020. To facilitate the transition, Curci will work alongside Zotta as an adviser in the coming months.
In addition, Thomas Burkhardt, Marchon’s president since 2022, has also decided to leave his position and will continue as an adviser to Nicola Zotta, focusing on the integration of the respective brand portfolios of Marcolin and Marchon.
“Under Fabrizio’s leadership, Marcolin has accelerated its growth through the strategic expansion of its brand portfolio, improved operational efficiency and a strong focus on commercial excellence,” Guyette added. “We are grateful for the contribution he has made over the years and intend to build on the foundation laid during his tenure.”
Reporting directly to Guyette, Zotta returns to VSP Vision after serving as CEO of Artsana Group since 2022. A seasoned executive in the eyewear industry, Nicola Zotta was President of Marchon from 2016 to 2022, having previously held key roles at the company, including vice president and managing director for EMEA and APAC from 2009. Before joining Marchon, he gained more than a decade of experience at Safilo, where he held several leadership positions.
“It is an honour to lead two world-class eyewear companies: the combination of their strengths creates an exceptional portfolio of luxury, lifestyle, and performance brands,” said Zotta. “By bringing together complementary capabilities and distinctive strengths, we are ideally positioned to continue offering eyewear of the highest standards of design and quality, underpinned by craftsmanship and innovation.”
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Copyright © 2026 FashionNetwork.com All rights reserved.
By
Bloomberg
Published
January 12, 2026
Birkenstock Holding Plc reported strong sales figures for the final months of 2025 as demand stays robust for its high-end sandals and clogs, despite the impact of a weaker US dollar and tariffs.
Revenue rose to €402 million ($470 million) in the three months to December 30, roughly in line with analyst expectations and 18% higher in constant currency terms than a year earlier, according to preliminary results for the company’s fiscal first quarter. Birkenstock had disappointed investors last month when it forecast a slower pace of sales growth of as much as 15% in fiscal 2026.
Chief executive officer Oliver Reichert is trying to win over investors with his slow-but-steady approach to growth, making sure consumer demand for Birkenstock’s footwear always exceeds its production. That’s allowed the company to raise the average selling price of its shoes and avoid markdowns.
He’s been criticised, though, for not giving enough information on Birkenstock’s performance and expectations. That’s one reason the stock has recently traded below its 2023 initial public offering price of $46, despite strong growth and profitability. The shares fell 28% in 2025.
“It’s clear that investors are not responding well to the ‘trust us, we know what we’re doing’ messaging from the company,” Williams Trading analyst Sam Poser said in a note last month. He has called Birkenstock “one of the best, if not the best, run companies” in his coverage, though he renewed his criticism of its financial messaging last week and cut his price target to $49 from $51.
Birkenstock’s first-quarter sales grew 11% on a reported basis, weighed down by the weaker US dollar compared to prior year, it said. Birkenstock reports earnings in euros but pulls in about half of its revenue in the US dollar. That situation- and the tariff burden- will continue in 2026, when Birkenstock expects adjusted earnings to exceed €700 million, it said last month.
Birkenstock is currently taking part in the ICR Consumer Conference in Orlando and plans to host a capital markets day on January 28. It will offer full first-quarter results on February 12, it said.
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