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Class Editori News

Ricci (menswear) entrusts Giglio with its Chinese e-commerce

July 11, 2019


Abstract : Stefano Ricci, luxury brand leader in menswear and childswear, entraste Giglio Group with the management of its Chinese online store, and chose iBox Digital for expanding its digital business over the European, Canadian and US marketplaces.

MILAN, Jul 8 (Class Editori) – Stefano Ricci, luxury brand leader in menswear and childswear, entraste Giglio Group with the management of its Chinese online store, and chose iBox Digital for expanding its digital business over the European, Canadian and US marketplaces.

Its partnership with Giglio won't focus on the single brand, commercialized through its Oracle platform, but rather involve full management by making all shops multichannel and by supporting the brand in China and in the rest of the world. Giglio Group uses its technological platform to allow client companies distribution of their products on some of the most important marketplaces of the globe, granting them an average online revenue growth of around 46%.

"For us, China is a strategic market, which impact on our business is due to grow from the current 4% to over 30% in about 5 years," said Alessandro Santamaria, Managing Director Digital & Strategy of Giglio Group, active in evolved e-commerce – defined as e-commerce 4.0 by its own founder (in 2003) and number one, Alessandro Giglio.

"In 2019 we experience an important change in pace, and we have now focused on luxury e-commerce – a sector offering great development opportunities to our clients on a global scale. Our partnership with Stefano Ricci is a perfect example of Italian know-how, as his company saw in us the perfect channel for penetrating some of the most important markets out there, like Europe, the US, and Canada. We are confident that Stefano Ricci's collections posses a great potential when it comes to these regions, and an even higher one in China, where we will be looking after their online store," added Santamaria.

"After an attentive search, we found Giglio Group makes for the perfect strategic partner for bettering our e-commerce performance," noted Niccolò Ricci, CEO of the company (founded by his father) which, in 2018, closed the financial year with a 150-million turnover plus 18% EBITDA, and is hoping to touch the 200 million during the current year thanks to its 69-direct store retail network spanning the globe. After Sochi and Singapore, during the past few months the group opened a new boutique in Manila, and strengthened its presence on the territory through two new shop-in-shops inside the Neiman Marcus department stores; meanwhile, two shop-in-shop relocations in Australia should reach completion during summer.

"In particular, the agreement promises a certain potential that we intend to monitor, and we will do so relying on a young and dynamic group's professionalism, developed straight on the field. This offer wants to complete the emotional journey of our customers shopping in our 70 boutiques present in most of the world's capital cities, to open toward new generations, and to best meet the ever-growing needs of our clientele," added the businessman, who is betting much of his company’s growth potential on China.

"The commercial disagreements between China and the US should have no effect on China's colossal domestic market, fertile ground for internet companies, healthcare, consumer and space technology sectors," confirmed Jasmine Kang, Comgest Growth fund manager for Comgest. "These growing sectors' leaders, who should have built their success around their brand name, R&D and efficient distribution networks, should keep growing and register good performances".

(Source:Class Editori)

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