German textile discounter Takko Fashion has achieved the highest sales in its history last financial year and says it is ready to further accelerate growth.
In its financial year ending 31 January 2023, Takko Fashion achieved a sales rise of 17 % to 1.2 billion euros, its highest sales ever. Meanwhile, its EBITDA even grew 26 % to 156 million euros, good for a profitability margin of 13 %.
The retailer attributes the results to several initiatives, such as the launch of the digital loyalty programme “Takko Friends” in early 2022, promotional campaigns around the brand’s fortieth anniversary and the relaunch of the online store.
In April, Takko Fashion carried out another major debt restructuring, converting outstanding debts into shares. That restructuring should enable the budget fashion chain to further invest in European expansion, both physical and online.
“We are confident that we can accelerate Takko Fashion’s growth through the ongoing implementation of our strategic priorities and investments in our store network, the digital transformation and the growth of our e-commerce business”, Dutch CEO Tjeerd Jegen added.
Takko Fashion operates 2,000 stores in seventeen European countries, including Belgium and the Netherlands.