Stone Island’s Sales Are Up 10%, Even Exceeding Its Chairman’s Expectations
However originally of the yr I don’t know if I might have guess on a 10% enhance in turnovers to €87.1 million and on a 20% development in orders of the P-E 2016,” mentioned Stone Island Chairman Carlo Rivetti. Jacket “Furthermore, even profitability improves, with an EBITDA going from thirteen% in 2014 to 15% this year”.
Rivetti begins with the novelty of retail when discussing the brand’s most essential milestones of 2015. As soon as once more the outcomes have exceeded expectations, with higher development charges than those of most casualwear brands.
“The United States and New York specifically have been income accelerators of the model and of its picture: for that reason, we decided to invest in the primary American flagship store beginning with New York, however we’re additionally taking a look at Los Angeles,” he mentioned.
One other signal of optimism comes from Italy, which absorbs 35% of turnovers and the place orders for the subsequent Summer time season have gone up by 11%.
“Two white stone island bomber jacket and a half years in the past we had been very near promoting the corporate, but after two lengthy negotiations we determined to go forward alone. From that moment nonetheless, we’ve got accelerated each on retail in addition to on overseas growth,” he mentioned. “We have been instructed that we weren’t international enough and we might have to affix a large group. Our response can be measured within the objectives we achieved in 2015, which included five retailer openings, 4 of which abroad: Hamburg, Amsterdam, Antwerp and New York, and a plan for expansion within the European nations in which we have already got a powerful presence, like the UK, Germany, and Benelux, and an additional funding within the US. In 2016 we are going to 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 greater 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 function of direct retail is increasingly essential.
“In Italy in 2015 we opened in Turin and went at full capability in Rome, the place we inaugurated at the top of 2014. We’re persevering with to look for a bigger location in Milan: the shop in Corso Venezia, which has existed since 2000, continues to have an important sell-out and is in an excellent location, however we need more space, partially to be in a position to apply the concept used for the flagship retailer abroad. Nonetheless, regardless of the disaster in recent years, rent costs haven’t gone down, and in this regard we really can’t compete with the massive teams of fashion and luxury”.
On a comparable foundation, the gross sales in flagship stores, compared to 2014, have elevated by 12%, however the proportion goes as much as 21% with the 5 openings in 2015 and e-commerce went nicely (+26%), absorbing 3% of sales. Moreover, the American undertaking may help to open up a highway in direction of Asia and in particular China, the place Stone Island nonetheless just isn’t present.