Stone Island Posts Double-Digit Growth And Will get Larger In Retail
MILAN — Stone Island continues to broaden its retail network.“We are opening a boutique in Venice in the first semester of 2018 and we’re on the lookout for a location in Tokyo,” stated Carlo Rivetti, island stone pebble tile president of Sportswear Co.which is Stone Island’s mother or father agency, including that the corporate can be scouting stores in Milan to relocate its unit in the Italian metropolis.The Modena, Italy-primarily based firm counts 20 stores.These embrace a 5,382-square-foot flagship in Los Angeles, which was officially inaugurated earlier this month.“This shouldn’t be solely our biggest store but additionally the most stunning,” Rivetti said enthusiastically. “Since we opened last summer, we will say that it has been working very well, exceeding our expectations.” Carlo RivettiLocated at the nook of North La Brea Avenue and West 1st Road, the flagship occupies a whole constructing and options extensive home windows going through the road. Designed to carry current collections as well as an exhibition space dedicated to making prospects extra accustomed to the brand’s heritage, the store’s interiors are marked by the presence of blue crystal walls separating the areas, which 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 progressive method to design is reflected within the displays combining fiberglass, carbon fiber, high-tech mirrored aluminum and industrial felt. As well as, furnishings pieces are juxtaposed to the purposeful modular system developed by German industrial designer Marc Buhre solely for Stone Island.“The requests of the customers in Los Angeles are according to those we get in our New York boutique, however we are able to say that whereas New Yorkers choose sober tones, folks in Los Angeles opt for vivid colours,” Rivetti observed.Although the U.S. still account for about 3 percent of the company’s complete enterprise, the market is generating outstanding outcomes. “We are growing lots in North America the place we are also elevating our wholesale distribution.”Stone Island is present in about 90 stores across the U.S.together with Barneys, Sense and Haven.“I think that our collaborations with Nike and Supreme definitely helped us within the States, but what I think is actually making the difference is the quality and elegance of our merchandise,” Rivetti said. A look from Stone Island’s spring 2018 assortment.Based on the entrepreneur, the company is closing 2017 with revenues of 147 million euros, up 36 percent in comparison with 2016. Earnings earlier than curiosity, taxes, depreciation and amortization increased 70 p.c to 34 million euros.The corporate also expects to proceed rising in 2018. “The gross sales of the spring 2018 collection to our purchasers are up 35 percent in comparison with the previous winter season,” Rivetti added.Even when Italy remains the brand’s biggest market, accounting for 33 p.c of the company’s complete enterprise, Stone Island is rising its sales throughout all the international markets.“Our on-line business also grew 55 percent in 2017,” Rivetti said.Final July, Sportswear Co. bought a 30 % of Stone Island to Singapore-based funding agency Temasek.“It’s great working with them, they have whole trust in the company, in the methods and within the management,” stated Rivetti, adding that sooner or later their funding companions will be also key in understanding the precise wants of the Asian markets. “But now it’s too early. In the event you loved this short article and you want to receive much more information with regards to Junior i implore you to visit the website. We have to deal with consolidating the U.S.