Stone Island’s Gross sales Are Up 10%, Even Exceeding Its Chairman’s Expectations
However originally of the yr I don’t know if I would have guess on a 10% enhance in turnovers to €87.1 million and on a 20% progress in orders of the P-E 2016,” mentioned Stone Island Chairman Carlo Rivetti. “Furthermore, even profitability improves, with an EBITDA going from 13% in 2014 to 15% this year”.
Rivetti starts with the novelty of retail when discussing the brand’s most vital milestones of 2015. Once once more the results have exceeded expectations, with increased development charges than these of most casualwear brands.
“The United States and New York specifically have been revenue accelerators of the model and of its image: for that reason, we decided to spend money on the primary American flagship retailer starting with New York, however we are also taking a look at Los Angeles,” he said.
Another signal of optimism comes from Italy, which absorbs 35% of turnovers and where orders for the next Summer season have gone up by 11%.
“Two and a half years ago we have been very near selling the company, but after two lengthy negotiations we decided to go ahead alone. From that second however, we have accelerated each on retail as well as on foreign improvement,” he mentioned. “We had been instructed that we were not world enough and we would have to hitch a large group. Our response may be measured within the targets we achieved in 2015, which included five store openings, four of which abroad: Hamburg, Amsterdam, Antwerp and New York, and a plan for expansion within the European nations through which we have already got a powerful presence, just like the UK, Germany, and Benelux, and an extra funding in the US. In 2016 we’ll open in Los Angeles, with a format that could be a midway level between a store and an exhibition space, with a purpose to introduce our greater than 30 years of history”.
The divide between the Fall-Winter catalogue (58% of revenues) and the Spring-Summer catalogue is increasingly balanced and the role of direct retail is increasingly important.
“In Italy in 2015 we opened in Turin and went at full capacity in Rome, the place we inaugurated at the top of 2014. We’re persevering with to search for a much bigger location in Milan: the shop in Corso Venezia, which has existed since 2000, continues to have an ideal sell-out and is in an excellent location, but we want more space, in part to be ready to apply the concept used for the flagship retailer abroad. Nevertheless, despite the disaster in recent years, rent prices haven’t gone down, and in this regard we really can’t compete with the massive groups of vogue and luxury”.
On a comparable foundation, the gross sales in flagship stores, in comparison with 2014, have increased by 12%, but the proportion goes as much as 21% with the five openings in 2015 and e-commerce went nicely (+26%), absorbing three% of sales. Furthermore, the American challenge may also help to open up a highway towards Asia and in particular China, where Stone Island nonetheless isn’t current.
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