Salmoiraghi & Viganò 2007/2008 financial results
The Salmoiraghi & Viganò Group announced its financial results for the FY ended September 30, 2008. The Group confirms its leadership of the optics market, that had a general downturn in volumes and revenue during the second half of the year.
At September 30, 2008, Salmoiraghi & Viganò Group turnover exceeded 190 million euro, with consolidated direct sales revenue of 178.8 million euro (+18.5% compared to the same period last year). Ebitda stood at 19.1 million euro.
During the year, the total number of stores in the Group’s three chains rose from 398 to 482 and included new openings, acquisitions and network rationalization. Development involved the three chains, Salmoiraghi&Viganò, VistaSì and SpacciOcchiali.
During the last few months, the Group also completed its expansion plan in Sicily and acquired the whole control of Salmoiraghi & Viganò Sicilia srl, the company that was set up last year in partnership with Angiolucci Lunettes 1948, taking over its partner’s quotas. The number of Salmoiraghi & Viganò outlets in Sicily has increased by 11 to the current 18 stores.
The Salmoiraghi & Viganò chain increased sales, on a consistent basis, by 1.3% to a total of 16.7%, including development. Throughout the year, 20 stores were opened in shopping galleries and 27 stores were acquired in the city center to give a total of 47 new stores; the number of franchisees increased from 61 to 73.
At just a few months since the close of the financial year, the Salmoiraghi & Viganò brand now covers Italy with 318 outlets.
The VistaSì chain achieved a significant total increase of 15.8%, or 2.6% considering an equal number of stores. 16 corners were opened in hypermarkets, 6 stores were acquired in cities and 2 new stores were opened in shopping malls for a total of 24 new outlets. The VistaSì brand now has 135 stores throughout Italy.
The SpacciOcchiali chain consolidated its presence in Italy by opening 5 new outlets which, together with its new franchisees, bring the current total to 30 outlets.
Group growth has been supported by the considerable investment of 36 million euro in acquisitions, outlet restyling and new openings.
“The global economic crisis had its effect also on the optics market which recorded a slowdown, although it held up better than many other sectors”, said Salmoiraghi & Viganò Group Chairman Dino Tabacchi. “The attitude of Italian consumers has changed and is now oriented toward products that are highly functional and technological rather than simply fashionable. Customers are more aware nowadays and reward companies that are innovative and have reliable brands and services, like the Salmoiraghi & Viganò Group”.
As a consequence of the development plan, there are over 300 new collaborators, bringing the total to 1,873 people. The Salmoiraghi & Viganò Group has continued to focus on training by increasing the number of training hours by 30%. There are three theme areas: technical, commercial and managerial.
A source of particular satisfaction was recognition by the Fund for Tertiary Sector Training (Fondo For.te), which assessed the integrated training plan presented by Salmoiraghi & Viganò as the best by major commercial and distribution companies.
