2024 Consolidated Revenue Reaches €536 Million
The De Rigo Group closes another highly positive year with consolidated revenue of €536.8 million, compared to €502.5 million in 2023 (+6.8%). Strong currency fluctuations in some of the Group's operating regions absorbed part of the growth. In fact, at constant exchange rates, the increase compared to 2023 revenue would have been +10.4%.
The revenue of the Wholesale division increased by 5.9% to €292.0 million, up from €275.7 million in 2023. At constant exchange rates, the revenue growth compared to 2023 would have been 8.1%. The markets that contributed the most to this growth include Turkey, the USA, Spain, Brazil, and Germany. The strong increase was driven by the growth of the high-end brand segment, which contributed to the division’s overall expansion, also thanks to Porsche Design, which was integrated into the Group only in the second half of the previous year.
The rebalancing of the brand portfolio also saw growth in the licensing segment and the consolidation of house brands.
The Retail division achieved a revenue increase of 7.2%, reaching €260.2 million compared to €242.8 million in 2023. At constant exchange rates, revenue growth compared to 2023 would have been 12.2%, mainly due to the weakness of the Turkish lira. The growth recorded during the year was predominantly organic, as there were no significant new store openings during the fiscal year.
“We had the opportunity to demonstrate the strength of our Group, which continues to generate value even in complex contexts of significant geopolitical turbulence,” commented President Ennio De Rigo. “We look to the future with determination, continuing to invest in business development. Investments in the Retail network, strengthening of Wholesale distribution, and technological advancements are the pillars of our growth plan. Our global expansion strategy is allowing us to reinforce our diversification and explore new opportunities. 2025 will bring new challenges, but our commitment remains focused on taking another step forward in our growth journey.”