desigual

Some stores in Europe begin to reopen with safety protocols, but textile sector expects to lose 37% of annual turnover due to health crisis

More than 210,000 jobs at stake, the vast majority of which are in the Barcelona area

The Barcelona-based fashion company Desigual announced in a press release on Monday that Manel Jadraque is no longer the firm’s CEO, following a "mutual agreement" between the Catalan multinational and the executive. Jadraque was both the company's Chief Executive Officer and its Director General. His executive functions will be assumed by Thomas Meyer, Desigual's President and founder. According to the company, "the current challenges facing the brand encouraged this decision". Jadraque had worked for the Catalan brand for more than ten years. He will remain a member of the Board of Directors, the company has stated. Desigual’s turnover in 2014 improved by 16.2% on its 2013 results, reaching €963.5 million.

The second day of the 080 Barcelona Fashion Week gathered together young designers and big brands. Desigual closed out the day, as Mango did on Monday, by showing its exclusive menswear collection. Kristina Pimenova, the 9 year old girl named as the most beautiful child in the world, failed to appear on the catwalk due to bureaucratic problems. Sporting looks combined with wool and silk were the dominant styles of the day. Not only did politicians, actors and Spanish celebrities descend upon the event, but also bloggers and instagrammers who now have a reserved seat at the shows. 

This week Barcelona welcomes international figures in fashion and the media for the 15^th edition of the 080 Barcelona Fashion Week, taking place from Monday the 2nd until Thursday the 5th. Over 30 designers will showcase their new Autumn/Winter creations over four days. For the first time, the show will be held in the Maritime Museum of Barcelona (a Gothic building once home to the Royal Shipyard), where both upcoming talent and Catalan favourites like Desigual and Mango are set to own the catwalk. Besides, the Sita Murt brand will present the first collection since the death of the Catalan designer in last December.

The Catalan fashion multinational Desigual will be strengthening its presence in the Americas over the coming months. In 2015 it will be entering new markets, with the opening of its first three stores in Mexico and three in Montreal, Canada. Its entry into the Aztec country will be made through a franchise, alongside the company El Palacio del Hierro (the Iron Palace) which owns luxury boutiques in Mexico, a market considered a “priority” by Desigual. Thanks to this cooperation, Desigual clothes will be sold in almost 30 different department stores throughout Mexico. In addition the Catalan brand will open its own boutiques in Andares in Guadalajara, Antea in Querétano and in Mexico City. Moreover, Desigual has also committed to strengthening its presence in the US before the end of 2015, with the opening of two new stores, one in Miami and the other in Las Vegas.

The Catalan urban clothing firm Desigual posted a €66.4 million profit in the first six months of 2014, which represents a 47.9% increase on the same period of the previous year. The fashion company registered a turnover of €452.9 million between January and June, 23.1% higher than the figure registered in 2013 during the same period. "The results confirm the company's growth, strength and good financial position", stated Desigual on Tuesday via a press release. The firm led by Thomas Meyer underlined that during the last few years they have been focusing on their international expansion. Following this strategy, the Catalan brand opened 45 new shops during the first half of 2014, entering into new markets in Latin America (Peru and Brazil) and increasing its presence in Asia (in Japan, Hong Kong and Singapore).

The Barcelona-based fashion enterprise announced that the French investment group Eurazeo will join the Catalan company after a €285 million injection. For this operation, Desigual will issue a share offer that will increase its capital by 10%, which will be entirely covered by Eurazeo. In 2013 Desigual posted a net profit of €129 million, which represents a 71% growth on the 2012 figures. The Catalan retail company's turnover reached €828 million, 18% more than the previous year, according to the Director General of Desigual, Manel Jadraque. On Tuesday, when presenting the company's results for 2013, Jadraque disclosed an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of €242 million, representing 29% of the sales figures.

The Born Cultural Centre has been selected as the venue to host the latest edition of the 080 Barcelona Fashion Week, from the 27^th until the 31^st of January where the newest collections for Fall/Winter 2014-2015 will be showcased. In the show’s 13^th edition, more than thirty designers and brands are ready to participate from Albéniz to Zazo & Brull to already established names such as Custo Barcelona, Desigual, Mango, Sita Murt, TCN or Punto Blanco. The fashion show will take over different spaces inside the Born Cultural Centre leading to the closure of the cultural and historical centre, which has closed its doors to the public from the 25^th to the 1^st of February 2014.

The new facilities are the second longest building in the Catalan capital, as it is 186 metres long. Desigual’s new headquarters are located on prime real estate, just in front of Barceloneta beach and next to the W Hotel. They will initially host 840 employees but at a later stage they will host up to 1,500 people. The building is split into 6 storeys and occupies 24,400 square metres. According to Desigual’s President, Thomas Meyer, the building is inspired by the retail company’s values such as “positivity, respect, compromise and constant improvement”. The President of the Catalan Government, Artur Mas, attended the unveiling event and praised Desigual for combining the “informality” of its clothing style with the “seriousness” of a company with shops in more than 100 countries.

The fashion label Desigual based in Barcelona has obtained a €200 million line of credit from different banks. This financial support will be used to finance international expansion as well as plans for a new logistical centre in Vilamoura (Barcelona). Leading this investment is the Catalan bank CaixaBank, mostly owned by La Caixa. Under the slogan “Desigual – It’s not the same” the label wants to focus on continual improvements, innovation, engagement, tolerance, positivism and fun. Within this slogan now Desigual is trying to attain a more international status, enlarging its current team of 2,900 people from 72 different nationalities.

From the 28th to the 31st of January, Barcelona became the capital of the fashion world as the eleventh edition of 080 Barcelona Fashion took place in the brand new DHUB building, the city’s new museum and professional centre for design. For four days, companies, independent designers and young fashion promises met on the Barcelonan catwalk.

In Igualada, some 50 km west of Barcelona (in Central Catalonia), the neighbourhood called Rec is characterised by its old tanneries and textile factories which were forgotten after years of great activity. Now, the organisers of ‘Rec Stores’ have transformed these spaces into fashion shops. For three days, brands such as Sita Murt, Custo Barcelona and Desigual have sold their latest fashion clothes and accessories. One of the organisers, Jordi Ribaudí, explained that the objective of ‘Rec Stores’ is to “unveil the neighbourhood, giving life to it and structuring it as a part of the city”.