Riopele grows by 25% and maintains €100 million turnover on the horizon

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Riopele has defied the dynamics of the Portuguese textile industry, growing by 6.4% in 2023 to reach a new historic high of 98.4 million euros. Over the past five years, the Famalicão-based company has surpassed the pandemic, in a particularly hostile business environment, and grown by 24.6%.

"Riopele has characteristics that make it unique," says José Alexandre Oliveira. According to the Chairman of Riopele, "the sustained investment of Riopele in vertically integrating all areas of business," especially R&D, Spinning, Dyeing, Twisting, Weaving, Finishing, and Private Label, is bearing fruit.

In general terms, the company has been strengthening its offering in a integrated service, from raw material to finished piece. It exports over 95% of its production to 50 markets.

In addition to the consolidated work in the fashion sector, Riopele's main specialty, as it works for the leading international brands in this segment, "a significant portion of internal work has been dedicated to technical and professional clothing." As an example, as part of the diversification strategy, the company was part of the consortium that developed the new camouflage for the Portuguese army.

The mobility area has also gained increased importance. "It is important to diversify the business to reach a growing number of customers," emphasizes José Alexandre Oliveira. "Our clothing production area offers a specialized service, which includes design, pattern making and sampling, fabric and finishing supply, cutting and sewing, quality control, and personalized delivery," highlighted the Chairman of Riopele.

Facing 2024 "with caution"

After a very demanding year in 2023 for the Portuguese textile industry, José Alexandre Oliveira believes that this year will bring additional challenges. "We must be cautious because we live in a world full of uncertainties, instability with various conflict zones." Economically, the retraction of consumer spending by families has an impact in various geographies, due to the increase in inflation and interest rates.

Notwithstanding the unfavorable macroeconomic scenario, José Alexandre Oliveira maintains the growth objective set for the company's centenary, celebrated in 2027: reaching €100 million in turnover.