Ecco reports record profit for 2012
06/03/2013
The shoe manufacturer reported net revenues of $1.4 billion in 2012, an increase of 13.7%, and its highest profit before tax of $199 million - a 26% increase on the year before.
Ecco CEO Dieter Kasprzak said: “2012 became an exceptionally good year for Ecco. More than anything this was secured by an extraordinary effort by the entire global Ecco team along with solid performance in the marketplace by many of our successful products.”
Ecco’s accessories business, which includes belts and handbags, grew 15%, driven by a new collection.
Ecco Leather Group comprises four production units in the Netherlands, Indonesia, Thailand and China and specialises in yak leather that it sources from China. It produces 85% of the leather used in Ecco’s shoes, and around a third of its business comes from other companies.
“The positive development in several markets strengthened our geographical diversification, which contributed to the improved result,” said Michael Hauge Sørensen, chief operating officer. He added that the company expects moderate growth this year.
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