Group Press Release - Review of the 1st Quarter 2024
Our group is pleased to share the milestone achievements of the first quarter of 2024, a period rich in success and continued development.
Growth and Development of the Group and CN Distribution
The group continues its development with green indicators, both for the entire group and for its subsidiary CN Distribution. Despite a drop in demand on the retail markets for summer collections, the group is benefiting from sustained growth thanks to a gain in market share in both production and distribution.
Retail Challenges and Pre-orders
However, the caution observed in spring-summer 2024 retail is also evident in fall-winter 2024/25 pre-orders, following a lackluster previous winter. Despite these challenges, the group continues to strengthen its commercial strength, developing new products, offers and services that improve our positioning and the quality of our services, both in retail and in production.
CSR Initiatives and Customer Relations
In terms of Corporate Social Responsibility (CSR), the group is proud to have reconnected with French customers for production. These customers have understood that development issues are not limited to local production but also include the sustainability of products thanks to European expertise, particularly for hosiery items. In addition, we have established new relationships with raw material suppliers in France, particularly for carded wool.
Luxury Market and Tisserin Distribution
In the luxury market, our subsidiary Tisserin Distribution has made good progress, although delays remain in setting up its industrial component. This strategic choice, approved by the subsidiary's CEO, Peter Vainer (CEO of the Arc en Ciel group), and by the management of the CN Textil and Co group, aims to establish solid distribution. We are setting up an international sales force and a powerful store network in preparation for the launch of the collections, now planned for winter 2025/26. The site can already be consulted at www.atelier-tisserin.com
Conclusion and Future Perspectives
In conclusion, our group remains resolutely committed to the path of growth and innovation. We remain steadfast in our commitment to quality and customer satisfaction, while remaining attentive to the opportunities and challenges ahead.
We thank you for your continued trust and look forward to sharing our future successes with you.
Sincerely,
The CN Textil and Co team.
Sincerely,
The CN Textil And Co team.
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