Upturn for Visibilia which aims at two new brands

Visibilia closed the last financial year with sales which have increased by 10% to 25 million euros, thanks especially to the performance by Blumarine eyewear (+10%) and Germany (+11.5%).

The group aims at closing the financial year 2004-05 next June 30 with billings of 30 million euros (+25%). Supporting the growth of the Veneto company are the first order figures, which have shown +50% on the Italian front and +25% in exports.

'We are very pleased about the figures for financial year 2003-04', Dan Levi, chairman of Visibilia, told Milano Finanza Fashion 'we broke even at the close of the year with a small operating profit. But, thanks to the first figures for the current year, I can say that we expect a significant growth'.

The driving force behind the 2003-2004 accounts was Blumarine eyewear, which has been confirmed as the market leader in Visibilia's portfolio for the Italian market. At geographical level, the majority of sales continues to be generated by exports. 'Currently, around two-thirds of our total revenues come from foreign markets, especially Germany and Spain where we operate through direct subsidiaries', Levi added, 'but Greece, Turkey and Russia are also developing well. There is also an excellent increase in the percentage of sales in Italy, with revenues totaling about 7.5 million euros'.

The company will continue along this road for the current year: 'We aim at closing with billings of over 30 million euros and, most of all, with a strong, two-figure increase in profits', Levi said. 'We will be channeling major energy into France, where we have opened a direct subsidiary which will handle France, Belgium and Luxembourg'.

But the foremost brand for the current year will be Alessandro Dell'Acqua: 'We believe in this project and sales have tripled. We are also signing an agreement with an American distribution partner for this brand and it should be finalized by end March 2005'.

Visibilia also aims to add two new brands to its portfolio during 2005: 'We'll arrive at the next Mido with two new labels to present', Levi concluded, 'at the moment, we are assessing various Italian brands for the continuation of our development. But there are also two French dossiers concerning an up-and-coming young talent and a historical fashion house. But I can't say more than that'.