Expresso purchase spurs growth
FNG Group’s operational turnover has grown a little over 60 % to 150 million euro, while its EBITDA also grew nearly 50 % to 22 million euro mostly thanks to the Expresso brand acquisition and because it has increased its number of stores. Its like-for-like turnover growth reached 12 %.
The company has increased its number of stores (spread across 6 formulas) from 102 to 131 stores in a year’s time, while it still has tens of store openings planned in the coming months.
Tim Van Steenbergen collaboration
Aside from its fiscal numbers, FNG Group has also announced the creation of a creative platform to give both young and experienced designers a chance to create a collection for the company. The first designer to collaborate is Tim Van Steenbergen.
“Thanks to the scale advantage our brands create in production, logistics and distribution, we are able to support a designer platform, to help bring their story to a wider audience. This will also give Belgian fashion more opportunities. We can combine Tim’s design talent and his pronounced handwriting with our organization’s vigor”, managing director Dieter Penninck said about the platform.
