Kiko Milano wants to reach a net income of 1.25 billion euros by 2027

Italian beauty brand Kiko closed 2022 higher with €671m in revenue (+42%) and EBITDA doubling to €75m (+30% compared to pre-Covid levels). It is an accelerated pace for the Percassi Group brand, which aims to achieve 1.25 billion euros in net revenue by 2027, with the acquisition of 2,000 points of sale and the entry and strengthening of new countries in Asia, Latin America and Africa.

The first phase of the development plan expects to open another 120 stores by the end of 2023, which will increase the number of brand stores to more than 1,100 stores in 75 countries. “In the second half, we will also launch our new unified trade platform, which will integrate all channels and systems, further improving the way we serve our customers and, at the same time, gaining efficiency and the ability to grow,” explains Simone Dominici. , CEO of Kiko Milano.

In the past fiscal year, Kiko has largely surpassed pre-Covid levels thanks to cross-sectional growth by geography and customer segment. The result – explains the company’s observation – which testifies to the success of the new strategy based on raising the brand, focusing on innovation and service and minimizing the use of promotional leverage.

The business grew by 55% in America, with a focus on Brazil, which doubled its turnover and the United States returned to double-digit growth thanks to the boost in e-commerce, as well as the opening of new markets in Central America, such as Martinique, El Salvador and Honduras. In Europe, it registered a growth of 46%, led by France (+58%), Spain (+50%), Italy (+40%) and the UK (+60%). Asia (+21%) withstood China’s blow in the fight against the coronavirus, and the Middle East grew by 90%. In addition, the company debuted in Thailand and the Philippines; In Africa, it also performed well with debuts in Egypt and Morocco, with double the results compared to expectations.