Business & Policy | Industry Updates

De Rigo Reports Strong Revenue Growth in Fiscal 2023

Published: February 9, 2024
Author: Fashion Value Chain

Italian eyewear producer De Rigo experienced significant success in the fiscal year 2023, recording a consolidated revenue of €506 million. This marked an impressive increase of €53.3 million compared to the previous year, reflecting an 11.8% growth rate. Despite facing challenges from exchange rate fluctuations in certain markets, De Rigo’s revenue growth at constant exchange rates stood at 16.3% over 2022.

The wholesale business segment of De Rigo saw remarkable growth, with revenue reaching €279.1 million, a substantial increase from €239 million in 2022. Notably, high-end brands distributed by De Rigo played a pivotal role in driving growth, contributing significantly to the group’s overall success. Additionally, the acquisition of Rodenstock group’s eyewear division, which includes prestigious brands like Porsche Design and Rodenstock, is expected to further fuel growth in fiscal 2024.

Revenue from De Rigo’s direct retail division also experienced growth, reaching €242.6 million, compared to €227.7 million in 2022. Despite challenges such as currency weakness in certain markets, the division’s organic revenue rise showcased the strength of De Rigo’s retail operations.

Ennio De Rigo, President of the De Rigo group, expressed satisfaction with the company’s performance, emphasizing the positive impact of investments made in recent years. Looking ahead, De Rigo highlighted plans for continued growth, including the integration of the Rodenstock Eyewear division and expansion into the medium-high market segment.

With a diverse portfolio of brands and a global distribution network spanning over 100 countries, De Rigo remains well-positioned for continued success in the competitive eyewear industry.

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