Takko Fashion reports improved sales and profitability

For the financial year ending January 31, 2023, Takko Fashion generated an adjusted net revenue of 1,223 million euros, up 17 percent compared to the previous year.

The company said in a release that key projects such as the launch of the Takko Fashion digital loyalty programme “Takko Friends” introduced in early 2022, promotions around Takko Fashion’s 40th anniversary and the relaunch of the online shop drove revenue growth.

The company also reported an adjusted EBITDA of 156 million euros and an adjusted EBITDA margin of 13 percent, up 26 percent compared to the previous year.

Commenting on the trading performance, Tjeerd Jegen, CEO of Takko Fashion said: “We are proud of the results we have achieved in a challenging year. We are confident that we can accelerate Takko Fashion’s growth through the ongoing implementation of our strategic priorities and investments in our store network, the digital transformation and the growth of our e-commerce business.”

In April 2023, Takko Fashion announced a new capital structure, consensually secured through a lock up agreement between shareholder, banks and bondholders that sets out a transaction to materially reduce leverage by more than 250 million euros and extend debt maturities for further three years until 2026.

Upon implementation of the transaction, the company added, Takko Fashion is positioned to continue to execute on its three-pillar-strategy focused on driving the expansion in core European markets, enhancing existing store’s sales and margins and leveraging the connection of online sales and in-store shopping.