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CLASS

A. Testoni to grow in China and to open in Hong Kong and Hangzhou

September 24, 2020


Abstract : In China, the luxury sector has started to grow again and A.Testoni relaunches the retail investments with the development of a new boutique concept and the reopening of two stores in Hong Kong and Hangzhou last month; a new opening in Xi’an will soon follow.

MILAN, Sept. 22 (Class Editori) – In China, the luxury sector has started to grow again and A.Testoni relaunches the retail investments with the development of a new boutique concept and the reopening of two stores in Hong Kong and Hangzhou last month; a new opening in Xi'an will soon follow.

The high-end footwear company from Bologna (Italy), whose shoes are produced only in Italy and which was acquired by the Sitoy Group from Hong Kong in November 2018, has the advantage of relying on a strong presence in the Asian market.

"Since the entry of the new shareholder, we have been focusing on the maintenance of the brand heritage, craftsmanship and strengths and, in the meantime, we have redirected the product and the business in order to attract a higher number of consumers at a global level", as Massimo Bettio- board member- has declared to MFF. In addition, he has announced the launch, starting from next month, of an app-developed solution in order to strengthen the made-to-order service.

It starts from some selected boutiques, where Testoni's customers can "create" their own shoes by using a 3D configurator and choosing among different styles, customizing every part of the shoe and selecting the materials it will be made of. "We have undertaken a brand positioning and strategic roadmap project with an important International branding agency which we expect to achieve in the following 3-6 months", as Bettio has added.

Meanwhile, the company has reinforced the team by introducing new resources in terms of design, product development, sourcing and production. Asia, together with the EMEA area, remains the business hub of Testoni which, after its stabilisation, is showing "some first signs which indicate new growth opportunities". The men's categories and the footwear account for the majority of the brand activities, which aims at strengthening the leather goods, and generally speaking, the women's products offer.

Testoni, chaired by the CEO Bruno Fantechi, who has been working there since 2007, is a historical brand from Bologna: it was established when the young Amedeo Testoni opened his first boutique after he had learnt the job in the best factories in Bologna. In the 50s, he improved the Bolognese processing in order to create the most beautiful shoes worldwide. After Amedeo, his daughter Marina and her husband Enzo Fini became the managers of the brand: the latter remained President until the brand was sold to the holding of Hong Kong, where it is listed on the Stock Exchange.

At the passing of property to the group led by the President Michael Yeung Wah Keung, who had already been commercial partner for three years, Testoni had a turnover of €30 million, thanks to a commercial network with three stores in China, one in Shanghai and two in Beijing, 40 monobrands and 10 franchising stores located all over the world.

In Italy, Sitoy owns another brand, Tuscan's, which produces leather goods in Ponte a Egola, in the province of Pisa, and distributes brands such as Kenneth Cole and Coleman. 

(Source:Class Editori)

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