(Alliance News) - Gismondi 1754 Spa on Monday evening released its consolidated operating results for the last quarter of 2022, during which the company reported sales of EUR4.4 million, up 10 percent from EUR4.0 million in the 2021 period.

The growth also covers the full year, during which the company generated total revenues of EUR14.0 million up 44 percent from EUR9.7 million in the 2021 period.

A steady annual increase since the company's IPO in 2019, when it invoiced EUR5.7 million.

"Since the IPO to date, therefore, Gismondi 1754 has grown in terms of sales by more than 147 percent, thanks to a precise strategy of geographically extended presence and differentiated by sales channel," the company explained in a note.

In detail, sales growth in the fourth quarter was mainly driven by sales in Europe, up 22 percent, a market where much of the brand's business is concentrated, and in the U.S., up 82 percent over 2021. The only channel that shows no change from 2021 is wholesale Middle East, a market that opened more recently.

As for special sales, the year 2022 ended with a growth of 3.0 percent, recording sales of EUR4.1 million.

Massimo Gismondi, CEO of Gismondi 1754, commented, "2022 closes with extraordinary growth, for which I feel like thanking all our people around the world who represent our brand. 2023 will be a highlight year for the brand, with the start of expansion in the Middle East, thanks also to the recent five-year franchise agreement for a series of openings, and further strengthening in Europe, Italy, and the United States; to support this new phase of expansion, we will also soon enlist new managers with extensive experience in the luxury sector."

Gismondi 1754 on Monday closed in the green by 1.4 percent at EUR7.25 per share.

By Chiara Bruschi, Alliance News reporter

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