Coccinelle sales climb 20% amidst a ‘positive’ travel retail performance

By Kristiane Sherry |

Coccinelle opened a number of boutiques in 2022 including at Shanghai Village

Italian leather goods firm Coccinelle has reported 20% sales growth in 2022, along with 21 new multi-brand locations in travel retail and expanded cruise operations.

The business, which entered the footwear category this season, says its retail channel posted 30% gains, with 20% for wholesale and a “significantly positive” EBITDA.

eCommerce platform coccinelle.com accounts for 8% of total company turnover, rising to 20% when eCommerce wholesale is included.

Leather bags are responsible for 80% of the total sales share, with small leather goods and minibags growing to 18% of turnover. 

The brand’s biggest market is Italy, which accounts for 44% of total sales, spanning direct, indirect, wholesale and eCommerce. Europe makes up 46%, while Asia totals 8%, where sales are “growing consistently”.

In late 2022, Coccinelle opened two boutiques in China, one each in Shanghai and Wuhan. In January 2023 there were openings in Nanjing, Shanghai Village. Further locations are planned for Thailand and across the wider region. 

‘Positive results’ in travel retail

Coccinelle has hailed “positive results” across its travel retail operations in 2022. Berlin, Hamburg, Chania and Rome Fiumicino were among the new airport openings, while it expanded and refurbished its store at Frankfurt. 

The brand also opened a new store at Bologna International Airport in early 2023.

Coccinelle also expanded cruise operations in 2022, launching on board MSC Seascape, MSC World Europa, Virgin Valiant Lady and Mein Schiff 2. 

Coccinelle has partnered with beauty brand Cinq Modes for Turkish Airlines amenity bags

Additionally, it launched a business class amenity kit collaboration with Turkish Airlines through Formia. Coccinelle branded cases contain premium skincare products from French beauty brand Cinq Modes, as well as an eye mask and socks. 

More collaborations are planned for 2023.

Move into footwear

Last month Coccinelle announced it had expanded into footwear with its fall/winter 2023 collection. 

A boot from Coccinelle’s new footwear range, launching this year

Launched during Milan Fashion week, the inaugural collection spans moccasins, leather boots, trainers and ankle boots, featuring signature Coccinelle closures.

The new range will be available in stores from September 2023.

In January, Coccinelle unveiled a striking, black and white advertising campaign for its Spring/Summer 2023 collection.

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