From 10% to 25%. This is the percentage jump that alternative products have given to the traditional Lladró porcelain figure. This is indicated to elEconomista by sources from PHI Industrial, the fund that owns the historic company since January 2017. After three years, but he assures that it is laying the foundations to achieve it.
One of the challenges, as highlighted by the fund to this medium, is to reduce dependence on the product that made the Spanish brand famous throughout the world. Along these lines, PHI Industrial emphasizes that jewelry, lighting, home fragrance, crockery and furniture now represent a quarter of Lladró’s sales.
Consequently, the weight of the porcelain figure would have dropped from 90% to 75% in the aforementioned three-year period, according to the firm, which does not specify the absolute values of sales in both segments due to “confidentiality reasons”. .
“Long Term Investors”
PHI emphasizes that reviving Lladró’s sales is a complex objective that it addresses after two decades of decline in sales, and that it decided to invest in the company despite this handicap precisely given the possibility of generating significant added value in the long term company. “We are long-term investors, we will make the company viable no matter how long it takes,” they stress, noting that all the new products they have launched “are growing at double digits.”
Regarding the new offer, the firm stresses that what is growing the most is jewelry, and explains that it has high hopes for its porcelain jewelry as it integrates into a market “that replaces the gift market” -whose decline has been the main cause of the collapse in the sales of the figures of Lladró-. In any case – the same sources highlight – within the aforementioned 75% that the porcelain figure represents “there are different subcategories”, among which, for example, “high porcelain has great stability”.
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