Milan – Value growth of 12.3% in the first five months is not enough to relaunch Cortilia. THE revenues of 2023 were equal to 37.2 million (+1% on 2022), with a Negative EBITDA of 11.8 million (from 11.6 million), as Emanuele Scarci writes on ItaliaOggi. Losses went from 13.6 million to 14.6 million. A situation that makes it inevitable the capital increase by the members, by June, for 4 million euros. Furthermore, last year the liquidity went from 21 to 3.5 million and the net worth went from 25.5 million to 10.9 million. The company is controlled by Renzo Rosso’s financial company, Red Circle Investments, with 27.3% and by other venture capital funds. Last year a recapitalization of 20 million took place.
“With respect to large-scale retail trade”, underlines Andrea Colombo, CEO since September 2023, “we we value the territory, we tell the companies that supply the products. We are the leaders in quality online shopping.” In the plan developed by Colombo there is a strong impulse on cost rationalizationwith the closure of the 3,300 m2 warehouse in Guidonia (Rome), inaugurated in October 2022 precisely to serve the capital. The cut will allow a savings of around two million euros, from what we learn. Logistics will therefore be entirely managed from the (rented) department store in Cassina de’ Pecchi, in the Milan area.
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