Lola Casademunt opens new headquarters and triples turnover after establishing itself in twelve countries

The arrival of Paco Sánchez, from Pronovias, to the general management of Lola Casademunt in 2020 has marked a before and after for the fashion and accessories firm based in Cardedeu (Barcelona). Despite the consequences of the pandemic, the Catalan family company has managed to triple its turnover in two years, as it earned 8.5 million euros in 2020 and expects to close the current fiscal year with 27 million, two million more than the initial budget. If this figure is confirmed, in 2022 alone the brand will record an 80% growth.

According to the CEO and general manager, the plan they have outlined contemplates tripling the business volume again in three years, that is, reaching 80 million by the end of the 2025 fiscal year. To cope with this pace, Lola Casademunt is already planning to build a new building in Cardedeu that will allow it to double the space of its current headquarters, which has just been completely remodeled. Works are expected to begin in 2024 and that the new building will be entirely dedicated to the design and creation team for the firm's collections, as Sánchez tells The New Barcelona Post. Growth will also accelerate thanks to agreements with companies such as Zalando, one of the global leaders in online clothing sales.

The foundations of Lola Casademunt's growth were forged in 2017, when the brand owned by Ferran Espona and Maite [Gassó] Casademunt, creative director and daughter of the founder and alma mater of the company ---who is now 91 years old---, decided to launch into the world of fashion with a clothing collection that she presented at the 080 Barcelona fashion show in 2018. Until then, Lola Casademunt was a firm recognized for its accessories ---from hair accessories to scarves, bags and shoes---, but now it is a total look brand that reaches its clients through the Lola Casademunt brand and Lola Casademunt by Maite, the company's most premium line and Maite Gassó Casademunt's most personal collection. According to Sánchez, its market positioning is not that of a low cost firm, but neither is it that of a luxury brand: "we are a premium, aspirational brand", he emphasizes.

The second major factor that has accelerated the turnover is the decision to internationalize the company, with a plan that the new general director has been in charge of executing. Thus, in January 2021 the company only operated in Spain and Portugal and now, in less than two years, Lola Casademunt's garments are already marketed in 500 multi-brand stores in fourteen countries, such as Andorra, Belgium, Cyprus, France, Italy, Ireland, Puerto Rico and Mexico, a country where they have already entered three centers of the powerful local distribution group Palacio de Hierro. "In 2023 we want to enter Germany, Holland and Poland, where we are looking for the right partners," explains Sánchez.

In addition to continuing to develop Europe, one of Lola Casademunt's priorities is to enter more Latin American countries, with Colombia, Chile and Panama in their sights. Another challenge is to enter the United States, where they would like to set foot through Miami in 2025.

Agreement with Zalando

Since the pandemic, Lola Casademunt's online sales have doubled and are expected to generate 10% of turnover this 2022. This percentage, however, could accelerate in 2023, as since this week Lola Casademunt's collections can also be purchased through Zalando. "They have approved us to distribute our garments in a good number of European countries; this same week we started working in eight markets, which can mean a strong boost to our online business," emphasizes the general director.

In parallel to the expansion on the Internet, the firm will continue to develop its network of physical stores in Spain, where it has a very great ally: El Corte Inglés. Currently, Lola Casademunt has 27 corners or differentiated spaces within the department stores and will soon open two more in the centers of A Coruña and Bilbao. In the last year, the presence in El Corte Inglés has increased by 70%, going from 17 to 29 points of sale. "In 2022 we have opened in large locations such as the Sorolla and Castellana centers, in Valencia and Madrid, but with the difference that these new boutiques are not on the accessories floor, but on the women's floor, which contributes to greatly enhance our brand," explains Paco Sánchez.

Lola Casademunt also has 19 own street-level stores in the best commercial areas of the main Spanish cities, a figure that will grow to 21 points of sale before the end of the year thanks to new openings in Zaragoza and Las Palmas.

According to the executive, all this growth and the "strong commitment to boosting the brand" is being financed with own resources. "We will grow as much as our own financial lung allows us; we are not looking for nor do we foresee bringing in partners, we want to be self-sufficient," he assures.

Opening of the new Cardedeu headquarters

Last Thursday, Lola Casademunt, which has just celebrated its 40th anniversary, inaugurated the remodeling of its Cardedeu headquarters, where 65 of the company's 170 employees work. The building has undergone a comprehensive renovation after the outsourcing of logistics to a specialized operator allowed the company to dispense with the warehouse that was in its central headquarters and free up space. The new facilities have an area of 3,200 square meters distributed over four floors, which house the central offices for finance and administration, technology, human resources, logistics, retail, wholesale, ecommerce, design, purchasing, quality control, warehouse, marketing and communication.

In addition, the space dedicated to showroom and modeling has been doubled and a pilot store has been built where the brand's visual merchandising experts define the changes that must be implemented in the stores every fifteen days. There is also a cafeteria, Lola Club, for employees to eat and take their breaks.

In 2024, on an adjacent plot, Lola Casademunt will build a twin building of an additional 3,200 square meters that will be entirely dedicated to the creative, technical and design team, while the current building will be dedicated to the corporate or business departments.

Until recently, 100% of the products designed by the family business were manufactured in Asia, but Sánchez's arrival at the company and the coronavirus crisis have led to part of the production being diverted to workshops in Catalonia —located in the Vallès area— and also in Andalusia, Portugal, Morocco and Turkey. "We have already achieved that 30% of production is carried out locally; we want to contribute to refloating and regenerating the powerful textile industry we had in the past," concludes the executive.