French lingerie and fashion group Etam achieved a turnover of 1.217 billion euro in 2012: 2.8% more than in the preceding year. This progress was entirely due to the opening of new stores, as like-for-like sales tumbled 3.4%. China was the worst underachiever in the Etam family.
Europe remains stronghold
Etam performed well in Europe in 2012: its turnover rose by 2.8% to 778.2 million euro in the Old Continent. This was mainly due to the opening of new lingerie stores and the favourable achievements of the 1.2.3.-brand, but even like-for-like sales advanced 0.6%.
As a consequence, Etam won market share in Europe against the backdrop of a general decline in the market. During the fourth quarter, Etam's like-for-like sales remained stable.
In China, Etam achieved a turnover of 438.7 million euro in 2012 (2.7% more than in 2011), but this increase was solely the result of a favourable exchange rate fluctuations and the opening of 69 additional shops, as comparable sales dropped 12.6%.
"Faced with the decrease in sales, in a context of economic slowdown and the rapid evolution of distribution channels in China, the Group has implemented strong action plans in order to evolve significantly its product offer and selling network", states the company in an official reaction to its corporate figures.
Etam distributes its products under the brands Etam, Unidiz and 1.2.3. (the upper segment). The company has a network of 4523 stores, of which 969 are located in Europe and 3355 in China, the remaining 199 being international franchises.