moleskine-ipo-report-04-03-2013-mediobanca

Moleskine
MOLESKINE: Sales breakdown by product (2012) MOLESKINE: Sales breakdown by product (‘09-‘12)
Source: company data
WTR
7%
PAPER
93%
c) Geographic exposure
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90
80
70
60
50
40
30
20
10
0
40.8
100%
1%
99%
2009 2010 2011 2012
Paper WTR
Moleskine is a truly global brand, operating in 92 countries, with a well-balanced geographic business
mix between EMEA (53% on 2012 revenues), Americas (36%) and APAC (11%).
Over the period 2009/12, notwithstanding double-digit annual growth, EMEA has decreased its
contribution to total sales by 10 percentage points (from 63% in 2009). Within this region, Germany,
UK, Italy and France are the major countries.
The Americas, which are covered through a direct subsidiary in New York set up in 2007, accounted
for 36% of 2012 revenues, up from 30% in 2009.
As far as the business in Asia Pacific is concerned, this is run through two direct subsidiaries in Hong
Kong (from 2011) and Shanghai (from 2012). Today it contributes approx. 11% of consolidated
revenues, having grown materially from approx 8% at YE-09. Major markets here are Japan,
Australia, Korea, South East Asia and Mainland China.
MOLESKINE: Sales breakdown by market (2012) MOLESKINE: Sales breakdown by market (‘09-‘12)
AMERICAS
36%
Source: company data
APAC
11%
EMEA
53%
90
80
70
60
50
40
30
20
10
0
40.8
7%
30%
63%
53.4
53.4
7%
33%
60%
67.3
7%
93%
9%
30%
78.1
7%
93%
11%
36%
61% 53%
2009 2010 2011 2012
EMEA Americas APAC
67.3
78.1
IPO
04 March 2013 ◆ 19