Despite the impact of the pandemic, Mavive closes the 1st half of 2021 beyond expectations, recording +28% in terms of turnover compared to the same period of 2020 and above all +7% on the 2019 pre-pandemic year.
Exports marks +40% vs the 1st half of 2020 and +22% vs the 1st half of 2019, maintaining a double-digit growth trend compared to the pre-covid period.
Italy reacted with +6% which, net of the temporary business of sanitizers that characterized the first part of 2020, would go into double-digit growth.
At the international level, the markets are growing overall, especially those of the Far East and the Americas, the most strategic on which the company is focusing. Even Europe, Mavive's main market, despite being mature, had a significant increase of +25%.
From a financial point of view, the 1st half of 2021 closes in solid balance: the Net Financial Position with a positive balance is further consolidated with cash exceeding the financial debt. Further extensions of financial moratoriums granted by the government as support measures during the pandemic emergency were waived.
Already in the first half of the year, the company reached the break-even point and returned to pre-covid EBITDA levels, expecting a double-digit growth by the end of the year.
All the company's brands are performing very well, both in terms of sell-in and sell-out.
The Merchant of Venice is recording strong growth in the Middle East and in Europe as well as an important opening on the Asian markets. In the traditional channels the global export turnover jumped to +85%, with Italian sales at +120% and an overall result of the first half of 2021 with an extraordinary growth of +91%. E-commerce marked +36% with orders from Italy, Europe and the United States.
The launch of Furla La Collezione is underway worldwide. The line is having an excellent response in Europe, especially in Germany, UK, Spain, and Russia (where it is exclusive to the prestigious Rive Gauche chain). Distribution was also activated in the Middle East and Asia in Hong Kong, Taiwan and Korea where the product is available in 100 mono-brand stores.
Ermanno Scervino is enjoying great success in Russia and in much of Europe. The new Capsule Collection dedicated to a young target will soon be launched and this will allow the expansion of distribution to Asia, the Middle East and the Americas.
The new launch of Police (To Be Goodvibes for him & for her) was greeted with enthusiasm, conquering consumers with its positive energy as confirmed by the growing sell-out figures. The traditional European markets were consolidated and distribution in Asia, the Americas and the Middle East expanded considerably, registering +46% in the first half of 2021 compared to the same period of 2020.
Monotheme is consolidating its presence in Asia, the Middle East and America with growth prospects beyond expectations, while Pino Silvestre is reasserting itself on historical South American markets such as Chile.
All these factors confirm the upward targets that the company has set for 2021: +17% compared to 2020 to recover and indeed exceed the pre-pandemic results as part of an ambitious growth plan for the next five years.