Takko Fashion news and archive

Takko Fashion appoints Martino Pessina as new chief executive officer

Takko Fashion has appointed Martino Pessina as its new chief executive officer (CEO). He joined the executive management board of the fashion company on January 16, 2023. Commenting on Pessina’s appointment as CEO, Dirk Van den Berghe, chairman of the Takko Fashion advisory board said: “Martino Pessina brings an excellent understanding of the...

Business

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...

Business

Takko Fashion raises funds to reduce debt, expand presence

European fashion discounter Takko Fashion has entered into an agreement with funds advised by Apax, its bondholders and banks to secure a new, right sized capital structure. The company expects this action to substantially reduce debt resulting in a strengthened financial profile and extend the debt maturity, enabling Takko Fashion to continue...

Business

Takko Fashion reports sales growth and improved profitability

Takko Fashion posted strong revenue growth in the second quarter translating into 3 percent adjusted EBITDA growth versus pre pandemic levels. During the quarter under review, the company generated net revenues of 344 million euros, a 12 percent revenue growth compared to pre-pandemic levels. The company said in a release that with an adjusted...

Business

Takko Fashion's Q1 sales jump

In the first quarter of the 2022/2023 financial year, the fashion discounter Takko Fashion generated net sales of over 242 million euros. This corresponds to an increase of 79 percent compared to the same period last year. "The start of the first quarter proved to be challenging due to tense consumer sentiment combined with prolonged cold...

Business

Takko Fashion's annual sales grow 11 percent

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...

Business

Takko Fashion's Q3 sales increase by 3.5 percent

Takko Fashion generated sales of 322 million euros in the period from August to October, an increase of 3.5 percent compared to the same quarterly period in 2019. Commenting on the update, Karl-Heinz Holland, executive chairman of Takko Fashion, said in a statement: “The third quarter was marked by interruptions in the global supply chains....

Business

Takko Fashion reports positive sales development in Q2

In the second quarter of the financial year, Takko Fashion posted sales of 335.4 million euros. Commenting on the company’s performance, Kurt Rosen, chief financial officer of Takko Fashion said: “In the past quarter we achieved a sales increase of 10.8 percent compared to the previous year. This record increase has clearly exceeded our...

Business

Takko Fashion's Q1 sales improve by 2.9 percent

Takko Fashion has announced that despite fashion business development getting strongly affected by the Europe-wide lockdowns, the company generated net sales of more than 135.4 million euros in the first quarter. This is an increase of 2.9 percent compared to the same period last year. Commenting on the first quarter trading, Karl-Heinz Holland,...

People

German discounter Takko Fashion names interim CEO

German discount fashion chain Takko Fashion has named Karl-Heinz Holland as new interim CEO following the departure of previous CEO Alexander Mattschull announced in October. Holland was until now the chairman of the Takko Fashion advisory board, and has previously worked for 23 years at the Lidl Group, including 6 years as CEO. “Takko Fashion...

Business

Takko Fashion posts decline in annual net sales

Discount retailer Takko Fashion for its 2018/19 fiscal year reported decline in net sales to 1,092.6 million euros (1,221.8 million dollars). The company said, adjusted EBITDA was also down on last year’s 148.1 million euros (165.6 million dollars), to 128.3 million euros (143.5 million dollars). The company added that customers embraced the...