Having rebounded from the worst of the pandemic in 2021, the Italian couture house continued its growth last year, with sales rising to €1.42 billion ($1.58 billion) for the 12 months through December 31, a 10 percent increase in constant exchange rates.

It also reported EBITDA of €337 million in 2022, up 18 percent over the prior year.

The company said its directly operated channels drove the growth as it pulled back on wholesale. Sales through its own stores and e-commerce jumped 21 percent in the period, while wholesale declined 6 percent as it continued to rebalance its channel mix. Its directly operated retail now accounts for 62 percent of sales, compared to 54 percent in 2019.

By geography, Europe, North America and the Middle East led its performance. Greater China was “still shaky” as a result of Covid, it said in a release.

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