PARIS — Sales at Italian fashion house Etro grew 10 percent in 2007 to 295 million euros, or $404.4 million at average exchange, following a raft of store openings, mainly in emerging markets.
Etro SpA said Tuesday it opened 37 stores worldwide last year, from Lithuania to India, and added that it would continue that trend, with a program of openings in 2008 in the Middle East, the Far East and Eastern Europe, in a bid to grow sales by 10 to 15 percent this year.
Etro also said it would seek to improve its positioning in Europe, its largest market, by opening a unit in Barcelona and renovating its boutique in Milan, as well as expanding its Madison Avenue store and opening a second New York unit in SoHo. Etro's retail network totaled 169 units at the end of last year. Regarding 2007 revenues, Etro highlighted increases of 89 percent in China, 67 percent in Turkey, more than 50 percent in Singapore and Taiwan and almost 40 percent in Russia.
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Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
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