Delsey's 2022 full year results show 124% YoY net sales growth, EBITDA 6-fold increase compared to pre-pandemic levels
PARIS, March 16, 2023 /PRNewswire/ -- Delsey Paris, the leading European premium luggage manufacturer, has today announced its operational results for 2022. Net global sales grew 124% year over year ('YoY') reaching €207 million, exceeding pre-pandemic levels of 2019 and outpacing by nearly 4 times the rate of post-pandemic sector recovery. EBITDA margin grew to 11.4% on net sales, 6 times the pre-pandemic levels.
Davide Traxler, CEO of Delsey, said:
"We are proud to have achieved such results cementing our position as one of the leading brands globally. We will be working hard to build on this success and to deliver on our ambition to reinvent the luggage-making business in the new age of travel."
Delsey's growth figures have been especially impressive in the US, where the company's net sales in US dollars almost tripled YoY to $96.6 million, beating the sector which rebounded at a rate of 35.6% YoY over the same period. The company's strategy of introducing new premium product lines and brand partnerships with well-known companies such as Roland-Garros, Air France and others, turning luggage into an extension of apparel style. This has helped Delsey to push up the average unit selling price by more than half while increasing the number of sold units by 54%.
Founded in 1946 in France, Delsey had long held the second place in the global luggage market before running into financial difficulties in 2017-2018. After the acquisition by a group of investors led by Pemberton Asset Management, Delsey re-emerged as one of the most prominent luggage brands globally. Delsey's strategic priorities are to maintain current momentum and secure long-term growth by capitalising on the ongoing recovery in the travel industry. According to the UN World Tourism Organisation, international travel arrivals in 2022 rebounded to 63% of the pre-pandemic levels (compared to 2019). The global luggage market is projected to grow at a CAGR 6-7% to 2030.
DELSEY PARIS is a French company founded in 1946. It sells its collections online and in more than 6,000 stores in over 110 countries. It ranks number two in the global luggage market, which features a very large number of players, and is a newcomer to the equally fragmented backpack market.
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