(Finance) – ENVENT ITALIA SIM has confirmed target price (to 2.41 euros for action, for a potential Upside of 148%) e recommendation (Outperform) on the title Giglio.coma company listed on Euronext Growth Milan and activates in the online sales sector for multi -brand luxury fashion. The target price corresponding to a 0.5x multiple on 2025 sales, in line with the peer at 0.5x, while Giglio.com is currently exchanged at 0.1x.
Analysts point out that in 2024 the Luxury goods market recorded its first slowdown in 15 years (excluding the Pandemic years). The online channel has also decreased with post-placing normalization. Most multi-brand e-tailer had to face challenges and pressure. The evolution of customer preferences and economic instability, including uncertainties on the impact of US duties on European luxury assets, include a slow 2025 with divergent tendencies between the regions.
According to ENVENT, the performance of Giglio.com from 2024 were widely awaited, reading behind the macro and sector context, and were widely in line with estimates. The progressive path to the profitability started in 2022 was appreciated, reaching an overall draw of the ABITDA in 2024 in a difficult year. ENVENT is now expected that Giglio.com completes this path in 2025with a Ebitda who will probably return positivedespite the expectation of a low growth growth.
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