Despite the geopolitical and global economic situation, the German luxury sports fashion company Bogner was able to continue its growth course in fiscal year 2021/22 (ended March 31). The company thereby recorded its most successful fiscal year since 2015, with sales of €166.3 million, up 36 percent on the previous year and already above pre-crisis levels a year earlier than planned (2019/20: €163 million). With Ebitda of €19.4 million, Bogner exceeded its own forecast. Ebit came in at €11 million.
The company said the result was attributable to the excellent growth of the two brands Bogner and Fire+Ice across all regions and channels. In wholesale alone, Bogner posted revenue growth of nearly 40 percent year-on-year. Digital also developed positively with high single-digit growth. Together, digital and wholesale sales account for about 70 percent of total sales in fiscal 2021/22.
“Last year, we invested significantly in our products and brands, systematically expanded our sales channels and completed our performance program as planned,” commented Gerrit Schneider, Co-CEO. “We are efficient and lean, clear of debt, and we have the right strategy to continue our sustainable growth path.”
On the product side, Bogner says the company focuses on innovation, sustainability, and new, target-group-specific concepts. With its further developed two-brand strategy, Bogner specifically addresses specific target groups and price ranges with its Bogner and Fire+Ice brands. In sales, Bogner is focusing on new partnerships and optimized operational processes. Last year, for example, the company further expanded its international business through the joint venture with Bosideng in China and partnerships in the U.S. This enabled Bogner to further strengthen its international presence despite the pandemic’s major challenges, particularly in China.
With the solid results under its belt, co-CEO Heinz Hackl said Bogner would continue to push forward with its internationalization and brand strategy. “With the joint venture with Bosideng, we have already set the course for deeper market entry in the Chinese market. Moreover, we intend to grow further in North America. Central to our positioning is differentiating our brands and reinforcing their positioning in the luxury and premium segments. Both brands contribute to achieving our ambition of being the leading player in Athluxury Sports Fashion.”
The performance program initiated in July 2020 to increase profitability and sustainable global growth contributed to Bogner’s positive business development. As part of the program, Bogner streamlined its internal structures and now operates with lower costs and more flexibility. The company can now concentrate fully on its core business by outsourcing logistics. In addition, Bogner has gradually optimized processes throughout production. Following the successful sale of the company headquarters, which was also part of the performance program, the company plans to move to its new headquarters in a new building called “The Run” on Neumarkter Straße in Munich in the fall of 2022. In addition, Bogner has serviced and repaid all outstanding loans by the balance sheet date of March 31, 2022.
For the 2022/23 financial year, Bogner intends to drive forward the wholesale and digital areas in particular. Therefore, targeted investments will be made in social media advertising on various platforms and display advertising to reach new customers. The current financial year will be dominated by the company’s 90th anniversary in terms of collections.
