Italian leathergoods company Coccinelle has reported a +10% year-on-year increase in turnover for 2024, with the figure reaching €104 million. The growth was driven by sales in Europe and omnichannel expansion, with EBITDA positive in the year.
Coccinelle’s global distribution network now encompasses 120 mono-brand stores across 45 countries and 1,300 points-of-sale in department stores and multi-brand retailers.
In 2024, strategic openings took place in Italy, Abu Dhabi, Malta, Austria and Romania, alongside boutique renovations in Taormina, Naples, Athens, Shanghai and Bangkok. Coccinelle also reinforced its presence in travel retail, which contributed to its overall performance.
Handbags remain the company’s core product, accounting for 70% of total sales, followed by small leathergoods and accessories at 25%, and a steadily growing footwear segment at 5%.
Regionally, the European market led growth with a +12% increase in turnover, representing 40% of total sales, led by Germany, Austria and Eastern Europe. Italy maintained a leading role with a +13% rise, constituting 45% of total sales.
The Asian market remained stable, contributing 10% to overall sales, highlighted by boutique reopenings in Shanghai and Bangkok. Expansion continued in the Middle East with a new boutique at The Galleria Al Maryah Island in Abu Dhabi.
Ecommerce and digitalisation played a key role in supporting Coccinelle’s expansion, with online sales on coccinelle.com increasing +12% compared to the previous year. The virtual store now accounts for 6% of total sales, exceeding 20% when including online wholesale channels.
Looking ahead, Coccinelle plans to extend its product range with the inaugural Pet collection and the new C-ME bag. As reported, C-ME is the centrepiece of the spring/summer 2025 campaign. ✈
