AXEL ACCESSORIES: A New Addition to Intrafashion
Yesterday, it was announced that AXEL ACCESSORIES has come under the control of Intrafashion, as a binding agreement for the acquisition of the Northern Greek company was signed. The imprint of AXEL within the dynamic of Intrafashion is of great importance.
AXEL ACCESSORIES has been in operation since 2012, stemming from the transformation of the uniform company named “IFIGENEIA KOUTSOUBELI AND CO OE” which was founded in 1999 by Ifigeneia Koutsoubeli and Kostas Lagoumakis. The headquarters of AXEL is located in Thessaloniki and it has 10 branches in the region.
AXEL ACCESSORIES: A Global Success Story
AXEL ACCESSORIES is a company based in Greece and Cyprus that has developed a highly successful and dynamic business model. This has allowed them to establish a strong international presence in a short period of time. Alongside their growth in the Greek market, the company has formed partnerships initially in Central Europe and later expanding worldwide.
Today, dozens of stores featuring AXEL ACCESSORIES collections can be found in major capitals around the world, including in Europe, Asia, Africa, the Middle East, and Latin America. The brand’s success can be attributed to its innovative approach, high-quality products, and strategic partnerships that have helped them reach a global audience.
Financial Report for AXEL in 2022
Based on the data from the latest published financial statement for the year 2022, AXEL showed a revenue growth of 9.7 million euros, with 7.2 million euros coming from domestic sales and the rest from exports. However, the company reported a net loss of 2.4 million euros.
By the end of 2022, the company’s net position was at 1.9 million euros, while its total liabilities amounted to 9 million euros, with 5.1 million euros being long-term liabilities.
It is worth noting that in 2018, the company had a strong financial performance, but it seems to have faced challenges in the recent years.
AXEL Acquires 37% Stake in Diorama Investments Sicar S.A.
AXEL has entered into an agreement to acquire a 37% stake in Diorama Investments Sicar S.A. The deal, which is set to last for 5 years, will see Diorama transferring 636,929 shares to Konstantinos Lagoumakis and 636,929 shares to Iphigenia Koutsouveli, the main shareholders of the company. This move will allow Diorama to reinvest back into the company.
Strong Performing Brands
This new deal in the fashion industry will strengthen the development “pattern” of the group.
Intrafashion: A Leading Women’s Clothing Brand
Intrafashion is a company that operates with the recognized women’s clothing brand “Pink Woman”. Last year, the brand achieved significant growth rates, breaking the barrier of 40 million euros in revenue and strengthening profitability indicators. For this year, forecasts expect further improvement in the financial indicators. It is worth mentioning that as part of continuous investments, Intrafashion has taken on the exclusive development of the store network for the brands “Terranova” and “Calliope” of the Italian clothing Group Teddy for a series of geographical areas in Greece.
Investment in AXEL by INTRAFASHION GROUP
According to a recent announcement, the former major shareholders of AXEL will remain in the company’s management. The President and CEO of INTRAFASHION GROUP, Dimitris Matemtzis, stated that AXEL is a leading Greek accessories company with strong brand recognition and consumer acceptance. With our strategic development plans, we aim to invest in the brand’s strong presence, with the help of K. Lagoumakis and I. Koutsovelis, who are the historical foundation and driving force behind the brand.
Axel: Expanding into International Markets
Axel is a Greek company that has been rapidly growing in both the local and international markets, with a focus on wholesale distribution. The strong foundation of the Intrafashion Group, in collaboration with Axel’s talented team, is expected to lead to significant partnerships that will drive market share, sales, and business profitability indicators in the near future.
