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Footwear brand Ecco delivers record breaking profits

Danish footwear brand Ecco has delivered a “record breaking year” posting its best pre-tax profit.

Ecco delivered a 26% rise in profits to DKK 1.14bn (£132m) in the year to December 31. Net revenue rose 13.7% to DKK 8.06bn (£935m).

The footwear label said it had strong progress in the Asian and North American markets along with improved sales in European markets.

Asian markets now account for 24% of sales compared to 20% in 2011. Sales in North America grew to 19% in 2012 against 18% in 2011; and as a result EMEA (Europe, Middle East and Africa) saw its percentage of revenue fall to 57%, despite overall growth in the region.

Chief executive Dieter Kasprzak said: “2012 became an exceptionally good year for Ecco. More than anything this was secured by an extraordinary effort by the entire global Ecco team along with solid performance in the marketplace by many of our successful products.”

The brand said it now expected growth to be “moderate” over the next year.

Chief operating officer Michael Hauge Sørensen said: “Looking ahead into 2013, market uncertainty remains high and a number of economies will most likely experience difficulties. This might have a negative impact on consumer sentiment and demand. Thus, after several years of high growth, Ecco expects more moderate growth in 2013.”

 

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