Stone Island’s Sales Are Up 10%, Even Exceeding Its Chairman’s Expectations
August 15, 2018
However initially of the yr I don’t know if I’d have guess on a 10% improve in turnovers to 7.1 million and on a 20% development 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 begins with the novelty of retail when discussing the brand’s most important milestones Stone Island Jackets of 2015. As soon as once more the outcomes have exceeded expectations, with larger growth charges than those of most casualwear manufacturers.
“The United States and New York in particular have been income accelerators of the model and of its image: for that reason, we determined to spend money on the primary American flagship store starting with New York, however we’re also looking at Los Angeles, he stated.
Another signal of optimism comes from Italy, which absorbs 35% of turnovers and where orders for the subsequent Summer time season have gone up by 11%.
“Two and a half years in the past we had been very near promoting the company, however after two long negotiations we decided to go ahead alone. From that second however, now we have accelerated each on retail in addition to on international growth, he mentioned. “We were advised that we were not international sufficient and we might have to hitch a large group. Our response will be measured in the objectives we achieved in 2015, which included 5 store openings, four of which abroad: Hamburg, Amsterdam, Antwerp and New York, and a plan for expansion within the European countries by which we have already got a robust presence, 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 may be a midway level between a store and an exhibition house, so as to introduce our greater than 30 years of history
The divide between the Fall-Winter catalogue (fifty eight% of revenues) and the Spring-Summer time catalogue is increasingly balanced and the role of direct retail is more and more essential.
“In Italy in 2015 we opened in Turin and went at full capability in Rome, where we inaugurated at the tip of 2014. We are continuing to search for a much bigger location in Milan: the store in Corso Venezia, which has existed since 2000, continues to have an important promote-out and is in an excellent location, but we want more space, partially to be in a position to use the concept used for the flagship store abroad. Nonetheless, despite the disaster lately, rent prices haven’t gone down, and on this regard we actually can not compete with the large groups of trend and luxury
On a comparable basis, the gross sales in flagship stores, in comparison with 2014, have increased by 12%, however the percentage goes as much as 21% with the five openings in 2015 and e-commerce went effectively (+26%), absorbing 3% of sales. Furthermore, the American undertaking will help to open up a highway towards Asia and specifically China, the place Stone Island still shouldn’t be present.