Spanish fashion label Bimba y Lola disclosed a fiscal year 2022 result showing a net profit of 11.6 million euros, with the year ending February 28, 2023 reporting a 26.1% decline versus the prior period. Management framed this as a year marked by substantial investment activity and the ongoing influence of inflation on consumer spending, a narrative detailed in a recent company release.
The Galicia-based group also posted a gross operating profit (EBITDA) of 30.7 million euros, reflecting a near 10% drop from the previous year. The firm noted that its investment level rose by 28%, describing it as the highest in Bimba y Lola history, though it did not disclose exact figures. This sustained investment effort accompanies a strategy aimed at strengthening the brand and accelerating growth over the long term.
The company also reported a 4.3% rise in sales, reaching 225 million euros for fiscal 2022. Executives highlighted that international markets were a key driver of this growth, with the brand expanding into seven new countries across Asia, the Americas, and Europe. The growth momentum was broad-based, with notable performance in most markets and renewed demand for the label’s signature pieces. As a result, more than 44% of the group’s business was generated outside Spain by year-end.
At year-end, Bimba y Lola operated 286 stores and maintained a presence in 48 countries, alongside its online channel, supported by a workforce of 1,809 employees, a year-over-year increase of about 6%. The distribution network and digital channel together have underpinned the expansion plan, allowing the brand to reach a wider base of consumers and to test new formats and markets.
CEO José Manuel Martínez commented that 2022 likely represents the period with the most significant progress in the company’s strategic plan to date. He noted that inflationary pressures had an impact on consumer behavior and operating costs, yet emphasized that the firm remains committed to building the Bimba y Lola brand and pursuing the goal of becoming the strongest possible company in the long run. The leadership reiterated a focus on sustainable growth, disciplined investment, and maintaining a clear brand identity across all geographies, with an eye toward profitability alongside expansion beyond its traditional European footprint. [Bimba y Lola Financial Report 2022].