08/14/2008
The Spanish fashion and accessories brand increases its capital and prepares to take the leap over to Asia.
Thanks to its effective growth model, the Spanish fashion and accessories brand Bimba & Lola has become, in just a few months, one of the companies with the greatest prospects, both in Spain and internationally. The proof lies in the dizzying rate of its shop openings, together with the success that each and every one of its collections has experienced.
Now the brand wants to strengthen its business strategy. To do this, it plans to open 26 new shops around the world and another five in Spain in the short-term. Of all these openings, those in the Asian market are particularly important, as it is an unexplored territory for the company. Plans include opening 19 shops there throughout the forth coming year: 13 in China, four in Malaysia and two more in Singapore. In Europe, the brand has the greatest expectations for France, where it plans to open four new shops.
Furthermore, to financially support this enormous expansion project, Bimba & Lola has increased its capital by two to five million euros, a move which has already been approved by the board of shareholders.
Currently, Bimba & Lola has 75 shops in Spain and four in Portugal, whose ownership system is divided almost 50/50 between its own shops and franchises. During the current year, the brand expects to reach a turnover of 50 million euros, which would represent a growth of 38% on the previous year.
