China’s Ellassay Sees Q1 Recovery Following a 25% 2020 Revenue Drop - SolidRumor.com

China’s Ellassay Sees Q1 Recovery Following a 25% 2020 Revenue Drop

 China’s Ellassay Sees Q1 Recovery Following a 25% 2020 Revenue Drop

A campaign image for the Ellassay brand in China. Ellassay Group

Ellassay Group – the Chinese womenswear giant that includes its own Ellassay brand, as well as Laurèl and IRO Paris, Self Portrait’s mainland China business and Ed Hardy in Greater China – saw overall revenue drop 24.9 percent to 1.96 billion yuan ($301 million) last year, according to its annual report.

The company also released financial data for the first quarter of this year, in which revenue reached 536 million yuan ($82.34 million), up 30.61 percent over the same period last year.

Last year, the Ellassay brand suffered a 10.41 percent year-on-year decline in combined revenue, attributed to poor distributor performance, but grew 51 percent in the first quarter, year-on-year.

Laurèl’s revenue rose 24.9 percent last year, China sales for IRO Paris rose 13.6 percent, and Self Portrait opened six stores in Beijing, Shenzhen, Xi’an, Chengdu and Shanghai following Ellassay’s investment.

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