Stone Island Posts Double-Digit Growth And Gets Bigger In Retail
MILAN — Stone Island continues to develop its retail network.“We are opening a boutique in Venice in the first semester of 2018 and we’re in search of a location in Tokyo,” said Carlo Rivetti, president of Sportswear Co.which is Stone Island’s father or mother firm, including that the corporate can also be scouting shops in Milan to relocate its unit in the Italian city.The Modena, Italy-based mostly firm counts 20 stores.These embrace a 5,382-square-foot flagship in Los Angeles, which was formally inaugurated earlier this month.“This is just not solely our greatest store but additionally essentially the most lovely,” Rivetti mentioned enthusiastically. “Since we opened last summer time, we are able to say that it has been working really well, exceeding our expectations.” Carlo RivettiPositioned at the corner of North La Brea Avenue and West 1st Road, the flagship occupies a whole building and features intensive windows going through the road. Designed to hold current collections as well as an exhibition area devoted to creating prospects extra acquainted with the brand’s heritage, the store’s interiors are marked by the presence of blue crystal walls separating the spaces, which are decorated with the brand’s iconic Rose of the Stone Island Fleecewear Winds brand. This additionally seems on the ceiling and on the stone and steel flooring.The brand’s modern method to design is reflected within the shows combining fiberglass, carbon fiber, high-tech mirrored aluminum and industrial felt. As well as, furnishings items are juxtaposed to the functional modular system developed by German industrial designer Marc Buhre solely for Stone Island.“The requests of the shoppers in Los Angeles are consistent with these we get in our New York boutique, but we can say that whereas New Yorkers favor sober tones, people in Los Angeles opt for vivid colours,” Rivetti observed.Though the U.S. still account for about 3 % of the company’s stone island badge tracksuit whole business, the market is producing excellent outcomes. “We are growing quite a bit in North America where we are additionally elevating our wholesale distribution.”Stone Island is current in about ninety stores throughout the U.S.including Barneys, Sense and Haven.“I think that our collaborations with Nike and Supreme undoubtedly helped us within the States, however what I think is actually making the difference is the standard and magnificence of our products,” Rivetti stated. A look from Stone Island’s spring 2018 collection.Based on the entrepreneur, the company is closing 2017 with revenues of 147 million euros, up 36 % compared to 2016. Earnings before curiosity, taxes, depreciation and amortization elevated 70 percent to 34 million euros.The company also expects to proceed growing in 2018. “The gross sales of the spring 2018 collection to our shoppers are up 35 % compared to the previous winter season,” Rivetti added.Even when Italy remains the brand’s greatest market, accounting for 33 p.c of the company’s whole business, Stone Island is rising its gross sales throughout all of the international markets.“Our on-line business also grew 55 % in 2017,” Rivetti mentioned.Final July, Sportswear Co. bought a 30 p.c of Stone Island to Singapore-based mostly investment agency Temasek.“It’s nice working with them, they’ve whole trust in the company, within the methods and in the management,” said Rivetti, including that sooner or later their funding companions will be also key in understanding the specific needs of the Asian markets. “But now it’s too early. We must concentrate on consolidating the U.S.