Luis Miguel Rivero now owns 95% of Black Limba, a Spanish lingerie company. He’s the CEO and sole administrator. The original founders, Álvaro Banús, Pepe Merino, and Javier Garay, are out.
Rivero joined Black Limba in 2017 as marketing director. He became CEO in 2019. He invested in the company in 2020. Now he’s in charge of a major overhaul. The company’s board is gone, and Rivero is running the show.
Doubling Sales
Black Limba wants to double its sales by 2025. The company made 1.35 million euros in 2024. It’s partnering with big distributors like Decathlon, a French retail giant. Decathlon will sell Black Limba products in its stores starting this year.
The plan is to create new business channels and hire more talent. Black Limba wants to boost its distribution and professionalize its operations.
Good Results, Controlled Debt
Black Limba made 1.3 million euros in 2023, up 22% from 2022. It turned a profit for the first time, with 215,000 euros in net earnings. The company lost 633,400 euros in 2022.
Debt is up, though. Black Limba owes 1.7 million euros, with 1.2 million of that long-term debt. The company owes 478,000 euros in short-term debt.
Global Ambitions
Spain is Black Limba’s main market, but France and Germany are important too. The company wants to expand in Europe and Latin America. It has 14 employees and has raised almost 2 million euros from investors like Félix Ruiz and Hugo Arévalo.