El Ganso reduces debt by paying off 3 million euros
The fashion company El Ganso, owned by the Cebrián family, has in recent months decided to reduce its debt by paying off 3 million euros.
According to the business newspaper Expansión, and as El Ganso has confirmed to FashionNetwork.com, the company has reduced its debt with Bravo Capital (which acquired it in 2021) from 6.5 to 3.5 million euros over the last few quarters. In addition, the brand reportedly earmarked revenues from its corners in El Corte Inglés for this repayment.
El Ganso closed the 2022 financial year with 20% growth and a turnover of 60 million euros. According to its forecasts, the company expects to generate 70 million euros in turnover by 2023, a figure that will surpass its pre- pandemic revenues. In the medium term, El Ganso aims to increase its turnover to 100 million euros.
Over the last few years, the company has also been committed to reorganising its retail network, comprising 159 mono-brand stores (including its corners) and 120 points of sale through wholesale distribution.
El Ganso was founded by brothers Álvaro and Clemente Cebrián and has been in business for more than 15 years. In addition to Spain and France, it retails its products in countries such as Mexico, Portugal and Chile. The company's strategy, along with boosting its retail network, is to reposition itself in the women's segment.
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