MILAN, Dec 17. (Class Editori) — The two iconic brands representing Italian fashion, namely Renzo Rosso's OTB Group and Missoni, owned by the homonymous family and by Maurizio Tamagnini's Italian strategic fund, will enhance their presence on Asia markets, especially in China.
OTB Group is planning to open four new stores in Shanghai inside JC Plaza Mall with a retail project that will host exhibiting and interactive spaces dedicated to Maison Margiela, Jil Sander, Marni and Amiri. The sale point will open on next March 2022 with the brands owned by the Group — including Maison Margiela, Marni, Viktor&Rolf, Jil Sander and Amiri — that are already present in 16 Chinese cities with 80 stores, which will double over the next three years.
JC Plaza Mall will host Jil Sander's first flagship in Shanghai and the first one opened in China after its acquisition by OTB Group in last March. Amiri, Los Angeles-based fashion brand in which OTB Group owns a minority stake, will open its retail store in China in the mall as well.
The Group's online business is quickly growing, as Diesel, Maison Margiela and Marni implemented specific programs on WeChat and Tmall and recorded a sharp 140% growth in sales since the beginning of the year.
On the contrary, Missoni's growth will be slower. The brand has always developed the majority of its business in Europe, with a great presence in the US, where it has a high brand awareness. "Over the years it has also developed a good distribution network in Korea and Japan, while it has never invested so much in the Asia-Pacific Region overall," Livio Proli, CEO of Missoni, explained, adding that "depending on health conditions, we will slowly try to enter the Asian market with more strength. We have already inaugurated a store in Shanghai at the end of November and it was the first of ten openings planned throughout China over the next two years, still without neglecting the Middle East, a healthy market where we are performing very well".
With growing results and a strong desire to consolidate a business increasingly oriented to the luxury world, Missoni is preparing to leave behind a year above expectations and enter 2022 with the wind in its sails.
"We are closing 2021 fiscal year with remarkable results. In the middle of the pandemic, we had estimated to recover pre-COVID-19 levels in 2022 or 2023, but we will probably reach the values obtained in 2019 both in terms of turnover and margins already this year, also thanks to these last Christmas weeks," Proli told MFF.
In fact, despite having joined the Italian fashion house, 41.2% of which is owned by FSI, in the spring of 2020, the CEO has managed to successfully guide the brand through a still very difficult time. "This year has been about re-emerging from 2020 and resetting the business. We are not yet where we would like to be, but it will be a positive start and we will remain faithful to the five-year plan approved by the shareholders last year, which provides for the achievement of 155-million-euro worth sales in 2025 with an around-12% EBITDA," Proli concluded. (All rights reserved)
(Source:Class Editori)
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