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Stone Island Posts Double-Digit Growth And Will get Bigger In Retail

Stone Island Crewneck Sweater TurquoiseMILAN — Stone Island continues to develop its retail community.“We are opening a boutique in Venice in the first semester of 2018 and we are on the lookout for a location in Tokyo,” stated Carlo Rivetti, president of Sportswear Co, which is Stone Island’s guardian agency, adding that the corporate can also be scouting stores in Milan to relocate its unit in the Italian metropolis.The Modena, Italy-primarily based company counts 20 stores.These embrace a 5,382-square-foot flagship in Los Angeles, which was formally inaugurated earlier this month.“This just isn’t only our greatest retailer but additionally essentially the most lovely,” Rivetti mentioned enthusiastically. “Since we opened last summer time, we will say that it has been working rather well, exceeding our expectations.” Carlo RivettiPositioned on the nook of North La Brea Avenue and West 1st Street, the flagship occupies a complete constructing and options extensive windows going through the road. Designed to carry present collections as well as an exhibition space devoted to making clients extra acquainted with the brand’s heritage, the store’s interiors are marked by the presence of blue crystal walls separating the spaces, that are decorated with the brand’s iconic Rose of the Winds emblem. This also appears on the ceiling and on the stone and steel flooring.The brand’s modern approach to design is reflected within the displays combining fiberglass, carbon fiber, excessive-tech mirrored aluminum and industrial felt. As well as, furnishings pieces are juxtaposed to the practical modular system developed by German industrial designer Marc Buhre solely for Stone Island.“The requests of the purchasers in Los Angeles are in keeping with those we get in our New York boutique, but we will say that whereas New Yorkers choose sober tones, people in Los Angeles opt for vivid colours,” Rivetti noticed.Although the U.S. nonetheless account for about 3 p.c of the company’s total enterprise, the market is generating excellent results. “We are rising quite a bit in North America the place we are additionally elevating our wholesale distribution.”Stone Island is present in about ninety shops across the U.S, together with Barneys, Sense stone island online outlet and Haven.“I think that our collaborations with Nike and Supreme undoubtedly helped us in the States, however what I believe is de facto making the distinction is the quality and elegance of our products,” Rivetti mentioned. A look from Stone Island’s spring 2018 assortment.According to the entrepreneur, the corporate is closing 2017 with revenues of 147 million euros, up 36 p.c compared to 2016. Earnings before interest, taxes, depreciation and amortization increased 70 p.c to 34 million euros.The corporate also expects to proceed rising in 2018. “The sales of the spring 2018 collection to our purchasers are up 35 p.c compared to the previous winter season,” Rivetti added.Even if Italy stays the brand’s largest market, accounting for 33 p.c of the company’s total enterprise, Stone Island is growing its gross sales across all of the international markets.“Our online enterprise also grew fifty five % in 2017,” Rivetti stated.Last July, Sportswear Co. bought a 30 p.c of Stone Island to Singapore-based mostly funding firm Temasek.“It’s nice working with them, they’ve complete trust in the corporate, within the strategies and within the management,” mentioned Rivetti, including that in the future their investment companions shall be additionally key in understanding the precise wants of the Asian markets. “But now it’s too early. We must deal with consolidating the U.S.

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