Rivera Fashion Company Focuses on Online Expansion to Grow 20% in 2023
Madrid, Spain – Rivera, the renowned fashion company founded by Elisa Rivera in 1977, is stepping on the accelerator and shifting its focus online. The mother and son duo, Elisa Rivera and Eduardo Hernández Rivera, are preparing for a rebranding of the brand and an expansion of distribution in order to achieve a 20% growth in 2023.
Rivera initially started as a chain of multi-brand stores until 2007 when Elisa Rivera launched her first collection. Eduardo Hernández, who was previously involved in consulting, joined the company in 2002 to continue his mother’s legacy. Currently, the company manufactures clothing, footwear, and accessories, with its own workshop located in San Agustín de Guadalix, Madrid. The workshop is responsible for creating the designs and patterns of their products, while 90% of production is concentrated in workshops between Madrid and Toledo.
The company closed the 2022 financial year with a turnover of 11.9 million euros, marking a 34% increase compared to 2021. Rivera aims to achieve a 20% growth in 2023, and the first quarter of the year has already exceeded the same period in 2022 by 20%.
Rivera currently operates thirteen stores across Spain, with ten stores in Madrid and three in Bilbao, San Sebastián, and Barcelona. However, the company has not opened any new establishments since 2022 as it has shifted its focus to other channels.
Since 2022, Rivera has been implementing a strategy to boost its online presence and increase sales through the digital channel. Online sales have tripled compared to the same quarter in 2022, according to Eduardo Hernández. The company aims for e-commerce to account for 10% of its turnover in 2023.
Looking ahead, Rivera plans to expand its distribution network in Spain starting this summer. However, the company intends for all growth to be organic and does not plan to excessively open new stores.
With a strong foundation and a strategic focus on online expansion, Rivera is poised for continued success in the fashion industry.
What is Rivera’s goal for the percentage of overall turnover from e-commerce by 2023
Rivera Fashion Company Sets Sights on Online Growth for 20% Increase in 2023
Madrid, Spain – Rivera, the esteemed fashion company founded by Elisa Rivera in 1977, is ramping up its efforts in the online arena in a bid to achieve a 20% growth in 2023. Mother and son team, Elisa Rivera and Eduardo Hernández Rivera, are gearing up for a brand rebranding and expanding distribution to drive their online expansion strategy.
What began as a chain of multi-brand stores, Rivera made a pivotal move in 2007 when Elisa Rivera launched her first collection. Eduardo Hernández, who previously worked in consulting, joined the company in 2002 to continue his mother’s legacy. Today, the company is engaged in manufacturing clothing, footwear, and accessories, with their own workshop located in San Agustín de Guadalix, Madrid. The workshop is responsible for creating designs and patterns, with 90% of production taking place in workshops between Madrid and Toledo.
The company reported a turnover of 11.9 million euros for the 2022 financial year, signifying a 34% increase compared to 2021. With an ambitious goal of achieving a 20% growth in 2023, Rivera has already outperformed the same period in 2022 by 20% in the first quarter of this year.
Currently, Rivera operates thirteen stores across Spain, with ten in Madrid and three in Bilbao, San Sebastián, and Barcelona. However, the company has not opened any new locations since 2022, as it has shifted its focus to alternative channels.
Since 2022, Rivera has been implementing a comprehensive strategy to bolster its online presence and maximize sales in the digital realm. According to Eduardo Hernández, online sales have tripled compared to the same quarter in 2022. The aim is for e-commerce to account for 10% of Rivera’s overall turnover by 2023.
Looking ahead, Rivera plans to expand its distribution network within Spain, commencing this summer. However, the company intends for all growth to be organic and has no plans for excessive store openings.
With a sturdy foundation and an unwavering focus on online expansion, Rivera is poised for ongoing success in the fashion industry.
