Growth of Fedon retail in the first nine months of 2016

The Giorgio Fedon & Figli board of directors has announced the operating results for the first nine months of 2016. The turnover totaled 52.2 million euros, a falloff compared to the 53.4 million of the same period in 2015; mono-brand retail turnover increased by 32% to a total of 3.4 million (2.6 million at 9/30/2015). Sales in the Wholesale channel (optical stores and leather goods distribution circuit) stood at 8.7 million euros (8.9 million at September 30, 2015), sales from the OEM channel (large and small manufacturers of eyewear) totaled 40.1 million euros (41.9 million at September 30, 2015). EBITDA was 2.9 million (2.8 million a year ago). As to the number of stores, Fedon now has 19 mono-brands and 7 shops-in-shops in Italy and abroad; these include the new openings in the Yaohan Department Store, Shanghai, and the new flagship store opened on October 28 in the K11 shopping mall in Hong Kong. Another 2 openings are scheduled for Hong Kong airport and Mantova Outlet before end 2016.