Bravissimo Group, a specialist in intimate apparel and swimwear, recently filed its financial accounts for the year ending October 2023. The company, which was acquired by Wacoal Europe last month, reported that it had fully recovered from the pandemic’s impact. However, this recovery did not lead to a significant sales increase.
The company noted that sales had “normalized” following a surge in summer 2022, when pent-up demand drove higher-than-usual swimwear purchases. As a result, revenue for the latest year remained stable at £58 million, compared to £58.2 million in 2022.
Despite the flat revenue, Bravissimo achieved notable improvements in profit margins. Gross profit increased to £36.6 million from £34.5 million, raising the gross profit margin to 63%, up from 59.3% in the previous year.
Bravissimo also maintained strong cost controls despite the challenging inflationary environment. Operating profit saw a significant rise, reaching £2.9 million, up from £530,000 the year before. Profit before tax matched this figure, rising from £440,000 to £2.9 million. Net profit also surged to £2.2 million, up from £380,000 the previous year.
In September 2023, Bravissimo was acquired by Wacoal, an international lingerie and swimwear giant. Wacoal owns brands such as Freya, Fantasie, and Elomi, which have long been sold by Bravissimo.
Leanne Cahill continues to lead the company, which will remain a separate entity with its own headquarters and continue operating all its UK stores.
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