Stone Island’s Gross sales Are Up 10%, Even Exceeding Its Chairman’s Expectations
But initially of the year I don’t know if I’d have wager on a 10% enhance in turnovers to €87.1 million and on a 20% growth in orders of the P-E 2016,” said Stone Island Chairman Carlo Rivetti. “Furthermore, even profitability improves, with an EBITDA going from 13% in 2014 to 15% this year”.
Rivetti begins with the novelty of retail when discussing the brand’s most necessary milestones of 2015. Once once more the outcomes have exceeded expectations, with greater growth charges than those of most casualwear brands.
“The United States and New York in particular have been revenue accelerators of the brand and of its picture: for this reason, we determined to invest in the first American flagship retailer starting with New York, but we’re additionally looking at Los Angeles,” he mentioned.
Another signal of optimism comes from Italy, which absorbs 35% of turnovers and where orders for the next Summer time season have gone up by 11%.
“Two and a half years ago we have been very near promoting the company, but after two lengthy negotiations we decided to go forward alone. From that second however, we have accelerated each on retail as well as on overseas improvement,” he mentioned. “We had been instructed that we weren’t international enough and we might have to join a large group. Our response will be measured in the objectives we achieved in 2015, which included 5 store openings, 4 of which abroad: Hamburg, Amsterdam, Antwerp and New York, and a plan for growth within the European countries in which we already have a strong presence, like the UK, Germany, and Benelux, and an additional investment within the US. In 2016 we are going to open in Los Angeles, with a format that is a midway point between a store and an exhibition house, in an effort to introduce our more than 30 years of history”.
The divide between the Fall-Winter catalogue (fifty eight% of revenues) and the Spring-Summer season catalogue is more and more balanced and the position of direct retail is increasingly necessary.
“In Italy in 2015 we opened in Turin and went at full capability in Rome, the place we inaugurated at the end of 2014. We are persevering with to look for an even bigger location in Milan: the store in Corso Venezia, which has existed since 2000, continues to have a terrific promote-out and stone island factory china is in a great location, however we need more room, partially to be able to apply the idea used for the flagship retailer abroad. However, regardless of the disaster lately, rent costs have not gone down, and in this regard we actually can not compete with the big teams of style 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 present.