European fashion retailer Takko Fashion recorded net sales of over 1,046 million euros, up 11 percent for the 2021/2022 fiscal year, which the company said are almost at the pre-pandemic level.
The company said in a statement that the fashion discounter based in Germany was able to continue catching up, after business closures due to the pandemic.
Commenting on the update, Kurt Rosen, CFO of Takko Fashion, said: "After the long lockdown in the first quarter of the 2021/2022 financial year, we were able to generate strong sales - including a historic sales record in the second quarter. Our annual result with sales growth of 11 percent compared to the previous year once again shows the resilience of Takko Fashion’s business model.”
“Tense consumer sentiment and rising prices pose challenges for the entire industry. At Takko Fashion, we also see the changes in the market and consumer behaviour as an opportunity: we are adapting to inflation without abandoning our very good price-performance ratio,” added the company’s CEO Tjeerd Jegen.
In order to further advance the company's growth goals in the future, Takko Fashion has strengthened its management board in the past financial year. In addition to Tjeerd Jegen, who was appointed CEO of the company in May, Kurt Rosen, chief financial officer (CFO), Thomas Füllhaas, chief operations officer (COO), and Sebastian Weber, chief product officer (CPO), are part of the management board at Takko Fashion.
Takko Fashion operates around 2,000 discount stores in 17 European countries.