Stone Island’s Sales Are Up 10%, Even Exceeding Its Chairman’s Expectations
However at first of the yr I don’t know if I would have bet on a ten% enhance in turnovers to €87.1 million and on a 20% progress in orders of the P-E 2016,” stated Stone Island Chairman Carlo Rivetti. “Furthermore, even profitability improves, with an EBITDA going from thirteen% in 2014 to 15% this year”.
Rivetti starts with the novelty of retail when discussing the brand’s most vital milestones of 2015. As soon as again the results have exceeded expectations, with increased progress rates than those of most casualwear manufacturers.
“The United States and New York particularly have been revenue accelerators of the brand and of its picture: because of this, we determined to put money into stone island hooded the primary American flagship store starting with New York, but we are additionally looking at Los Angeles,” he stated.
Another signal of optimism comes from Italy, which absorbs 35% of turnovers and where orders for the following Summer season season have gone up by eleven%.
“Two and a half years ago we have been very close to promoting the company, however after two long negotiations we decided to go forward alone. From that second however, we now have accelerated each on retail as well as on overseas improvement,” he stated. “We were informed that we weren’t global sufficient and we would have to join a big group. Our response might be measured within the goals we achieved in 2015, which included 5 store openings, 4 of which abroad: Hamburg, Amsterdam, Antwerp and New York, and a plan for enlargement in the European international locations by which we already have a strong presence, like the UK, Germany, and Benelux, and an extra investment within the US. In 2016 we’ll open in Los Angeles, with a format that could be a midway point between a retailer 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 time catalogue is more and more balanced and the position of direct retail is more and more vital.
“In Italy in 2015 we opened in Turin and went at full capability in Rome, where we inaugurated at the end of 2014. We are continuing to look for a much bigger location in Milan: the store in Corso Venezia, which has existed since 2000, continues to have an amazing promote-out and is in a good location, however we want more room, in part to be able to apply the idea used for the flagship store abroad. Nevertheless, regardless of the crisis lately, rent costs have not gone down, and in this regard we actually cannot compete with the large teams of style and luxury”.
On a comparable basis, the gross sales in flagship stores, in comparison with 2014, have elevated by 12%, but the share goes as much as 21% with the 5 openings in 2015 and e-commerce went nicely (+26%), absorbing three% of sales. Moreover, the American venture will help to open up a street towards Asia and in particular China, the place Stone Island still will not be present.
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