Retail Industry
Industry: Email Alert RSS FeedHOT DENIM DRIVES UP DIESEL'S SALES.
Daily News Record, September, 2001 by COLAVITA, COURTNEY
MILAN -- The current trend for all things denim helped generate double-digit sales gains for Italy-based denim and sportswear company Diesel.
The privately held company reported 2001 preliminary sales were up 30 percent to $477.1 million, from last year. The company did not release net profits for 2001. In 2000 it reported profits of $17.5 million. (All figures are converted from Italian lire at current exchange rates.)
"We started to reap the benefits of our reorganization, which has been taking place over the past five years," said Renzo Rosso, chairman and owner. "We have hit all the crucial points -- logistics, delivery, how we approach the market and merchandising -- and our sales show this."
As other retailers look to slash...
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