MELON FASHION GROUP PRESENTS ITS 2018 REPORT
Melon Fashion Group, owner of fashion brands: befree, ZARINA and LOVE REPUBLIC, announces publication of the 2018 annual report.
In 2018, Melon Fashion Group increased its revenues up to 17.6 billion roubles, which is 27% higher than in 2017. EBITDA has grown 38% (with disregard of the exchange rate) and amounted to 2 billion roubles. The company generated the net profit of 1 billion roubles.
E-commerce demonstrated dramatic growth: online sales have grown 125 %. The team has bettered interfaces of the company’s own internet stores and fulfillment time was shortened. Alongside this, the company has strengthened partnership with the biggest market places.
Last year, 59 new stores were opened, and 51 new-concept stores were relocated. The total number of retail stores by the end of the year amounted to 575, and the trade space reached 142.9 thousand square meters, growing 11 % compared with 2017. Opening of the first MFG own store in the Far East became another landmark in the company development.
In 2018, new contracts were signed with factories in India, Bangladesh, Kirgizstan, Uzbekistan and Russia. Melon Fashion Group dealt with 223 suppliers from 7 countries. The total buying amounted to $120 million.
New faster routes have been worked out for deliveries from China by trucks. For deliveries by sea, the port of Novorossiysk has been added as an alternative to that of St Petersburg. Delivery time from dispatching to the store has shortened from 42 to 39 days.
The Melon Fashion Group team has finalized implementation of the STC (“speed to consumer”) project – a fast 3-month production cycle for 22 % of the total volume of merchandise.
Mikhail Urzhumtsev, CEO of Melon Fashion Group:
«In 2018, in spite of the stagnation on the market and new administrative requirements, our team was searching and finding possibilities for speeding up and growing. The ambitious goals that we had set were reached and exceeded: key figures demonstrate significant growth in 2018 compared with the previous year».
You can read the full version of the company annual report HERE.