Stone Island’s Sales Are Up 10%, Even Exceeding Its Chairman’s Expectations
But at the start of the year stone island shadow project harrington I don’t know if I’d have bet on a ten% improve in turnovers to €87.1 million and on a 20% progress in orders of the P-E 2016,” stated Stone Island Chairman Carlo Rivetti. Jacket “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 essential milestones of 2015. As soon as once more the results have exceeded expectations, with higher development rates than those of most casualwear manufacturers.
“The United States and New York particularly have been income accelerators of the model and of its picture: because of this, we decided to spend money on the primary American flagship store beginning with New York, but we’re additionally looking at Los Angeles,” he stated.
Another signal of optimism comes from Italy, which absorbs 35% of turnovers and where orders for the next Summer season have gone up by eleven%.
“Two and a half years in the past we have been very near selling the company, however after two lengthy negotiations we decided to go forward alone. From that second nonetheless, we’ve got accelerated both on retail in addition to on foreign development,” he said. “We had been advised that we were not world enough and we might have to affix a big group. Our response will be measured in 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 enlargement within the European international locations during which we have already got a robust presence, just like the UK, Germany, and Benelux, and an extra funding within the US. In 2016 we’ll open in Los Angeles, with a format that may be a midway point between a store and an exhibition area, with the intention 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 increasingly balanced and the position of direct retail is more and more essential.
“In Italy in 2015 we opened in Turin and went at full capacity in Rome, the place we inaugurated at the end of 2014. We’re persevering with to search for an even bigger location in Milan: the store in Corso Venezia, which has existed since 2000, continues to have an ideal sell-out and is in a great location, but we need more space, partially to be ready to use the concept used for the flagship store abroad. Nonetheless, despite the crisis in recent years, rent prices have not gone down, and on this regard we really can not compete with the large teams of trend and luxury”.
On a comparable foundation, the gross sales in flagship stores, in comparison with 2014, have increased by 12%, however the proportion goes as much as 21% with the five openings in 2015 and e-commerce went properly (+26%), absorbing 3% of gross sales. Furthermore, the American mission may also help to open up a street in the direction of Asia and specifically China, the place Stone Island still isn’t current.