Pittards Posts Strongest Bookings in Four Years
Pittards Posts Strongest Bookings in Four Years
Pittards, a major supplier to the sporting goods and footwear industries, says its sales book to open 2022 was its strongest at the start of a calendar year since 2018 and was fueled by stronger fourth quarter orders from big shoe markets and interiors customers. The group exports about 79 percent of its annual production into 39 countries over four continents.
In 2021, the British leather and leather goods manufacturer, posted a 29 percent revenue increase to £19.66 million, or approximately $25.9 million.
“In addition to our traditional markets, which have recovered well,” said CEO Reg Hankey, “we are now also well placed to respond to our new strategic market sectors of interiors (automotive, aviation and mass transit), large shoe brands and shoe production in Ethiopia that are all set for faster growth than in 2021.”
While it did not offer specifics, Pittards confirmed it is developing a collaboration with Vivobarefoot for its fledgling business in Ethiopia where it sources local sheep skins, goat skins and hides. The company is forecasting annual sales to Vivobarefoot to exceed US$2 million through increased pairage of more than 50 percent this year. The lower-cost Ethiopian division generated about $6.54 million in 2021 revenues. By region, Pittards’ Far East/Rest of the World customers accounted for 81 percent of its topline, or about $21.1 million in sales last year. North America, meanwhile, accounted for just 0.6 percent of all revenues or approximately $166,000.
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