Desigual has seen its revenue fall by 5.8% to 25.7 million euros in the three months between July and September, according to accounts filed by Eurazeo, the brand’s majority shareholder. So far this year, revenues attributable to Desigual have reached 675.2 million euros, representing a 6.8% drop on the same period last year.
According to Eurazeo, the fall was driven by a decline in in-store footfall and the ongoing store closure programme launched last year.
Desigual’s online sales experienced positive growth in the third quarter. The worst performance was seen in Germany and France, while growth remained flat in Spain.
Revenue for the nine months until September was 1.32 billion euros, up 2.5% on the prior year’s period.
The Barcelona-based company is mid-way through a renovation process which has included the reorganisation of its management structure. In the period, Desigual closed 27 stores and opened 48.