Worldwide High-End Store Counts: Upscale Brands With the Most Freestanding Stores Worldwide
There are several ways to judge the momentum of high-end brands. Of course, financial results are key, but store openings can also tell a story. Ferragamo launched 66 stores in 2003, but it’s important to remember that the company has seven...
There are several ways to judge the momentum of high-end brands. Of course, financial results are key, but store openings can also tell a story. Ferragamo launched 66 stores in 2003, but it’s important to remember that the company has seven brands in its stable. Escada added 56 locations, Bulgari opened 35 units and Coach launched 33. Ralph Lauren opened only three new stores, but one, significantly, is in Milan and marks the company’s entry into the Italian market. Versace opened 31 new stores in 2003, but warned that it may be closing locations or downsizing some existing flagships. Many companies see Asia as a fertile market, if not exactly a new frontier. Some firms are opening more than a dozen locations in China, Japan, Korea and Taiwan.
MAX MARA 1,167 Max Mara Fashion Group SRL’s store count includes Max Mara, Marina Rinaldi, SportMax, Max & Co., and Persona, Marella, Penny Black and I Blues, sold outside the U.S. With more than $1 billion in sales, Max Mara is one of Italy’s largest fashion firms. New product groups this year include resort, swimwear, hosiery and accessories. The firm will launch a scent with a division of Procter & Gamble’s Wella unit with first-year retail sales estimated at $15 million.
ESCADA 439 Escada Group seems to be back on track. Cost-cutting measures are proceeding according to plan with fixed costs to be slashed by 40 million euros ($49 million) by Oct. 31, the end of the company’s fiscal year. Escada is also growing its business. Sales for the third quarter rose 3.7 percent to 144.9 million euros or $177.6 million at current exchange. Another good sign: Orders were up 2 percent (in euro terms) for the first time in three years.
POLO RALPH LAUREN 355 Polo Ralph Lauren Corp.’s newest flagship is in Milan and represents the company’s first foray to Italy. There are now seven Ralph Lauren flagships worldwide. The company’s financial results have been encouraging. In the three months ended July 3, Polo’s net income rose 165.1 percent as sales grew 24.1 percent. Net revenue jumped to $592.8 million from $477.7 million. There are plans to open 70 to 85 stores in the U.S. and Europe over the next five years.
COACH 350 The good times keep rolling at Coach Inc., which last week upped its first-quarter earnings and revenue guidance. The brand is launching new products while moving its image up the luxury ladder. At $42.44, Coach shares are under the 52-week high of $47.45 reached on July 2. The company is opening 10 stores in Japan next year. The latest opened in Sapporo late last month.
LOUIS VUITTON 321 LVMH Moët Hennessy Louis Vuitton in July reported a 16 percent gain in second-quarter sales. Louis Vuitton contributed to the strong performance with sales growth in the double-digits. Vuitton had a 50 percent sales surge in the U.S. with blowout products such as the Theda bag, a jewelry line and the Bellaix luggage collection. New stores, which bowed in Shanghai and on Rodeo Drive in Beverly Hills, bode well for even stronger sales in the second half.
GIORGIO ARMANI 300 Giorgio Armani SpA’s store fleet includes Giorgio Armani, Collezioni, Emporio Armani, Armani Jeans, Armani Junior, A|X Armani Exchange, Armani Casa and Armani Accessori. Despite a 3.5 percent decline in consolidated sales to 1.26 billion euros, or $1.42 billion in 2003, expansion continues. In April, Armani opened its first Shanghai store. Plans call for 20 to 30 stores in mainland China by 2008. There’s also a new a pact for a hotel chain with Emaar Properties in Dubai.
SALVATORE FERRAGAMO 269 The Ferragamo family wants to rejuvenate the brand while appealing to a younger clientele and concentrating on its core accessories line. Ready-to-wear designer Graeme Black, who left the house in mid-April when his contract expired, is back in that role as a consultant . He’s working with Nathalie Gervais, who joined Ferragamo in March as creative director. Much of Ferragamo’s annual $46 million investment budget is going toward opening 66 points of sale this year.
MONTBLANC 225 Norbert Platt, credited with Montblanc’s aggressive growth over the past two decades, was named chief executive of Compagnie Financière Richemont SA’s luxury goods group, of which Montblanc is a unit. Platt replaces Alain Dominique Perrin, who retired last year. Platt’s replacement at Montblanc has not yet been announced. New Montblanc stores bowed in Dubai, Hong Kong, Shanghai and Singapore this year.
VERSACE 212 Versace’s store count includes Versus and Versace Jeans Collection. Allegra Versace Beck, Gianni’s niece, turned 18 in June and gained full control over her 50 percent stake in the firm. The remaining half is divided between her uncle, Santo Versace, with 30 percent, and her mother, Donatella, with 20 percent. A new ceo, Giancarlo Di Risio, is taking the firm out of the red. Versace, which wants to sell a minority stake, will close a few stores and downsize some flagships.
CARTIER 210 Cartier will boost the number of boutiques in its retail network with a unit in Casablanca, Morocco, bowing in December. Plans for stores in China and the Middle East are also under way. The jeweler expects to reach a total of 225 stores in 2005. At Cartier’s parent, Compagnie Financière Richemont SA, profits are up and debt is down. The company is flush with cash with 200 million euros ($236 million) in the bank.
PRADA 198 The store count includes Prada and Miu Miu brands. Prada’s August annual report shed light on the factors that fueled a 34 percent jump in net profits last year — namely a $20 million tax benefit. Prada in March said 2003 net profit grew 34.3 percent to 36.3 million euros, or $41 million, as cost cutting boosted margins. The report flirted with the idea of an initial public offering, which the company considered in 2002, but pulled the plug on after three postponements.
GUCCI 194 All eyes are on Gucci in the post-Domenico De Sole and Tom Ford era. Parent company PPR installed Unilever alum Robert Polet as group ceo and the design team of Alessandra Facchinetti for women’s wear, John Ray for men’s wear and Frida Giannini for accessories. Giannini unveiled floral bags and shoes and Facchinetti showed short embellished jackets for resort. In the last year, Gucci opened 18 stores, more than half of them in Asia.
BULGARI 185 Bulgari Group opened its first hotel in Milan this year and plans to launch a second in Bali next year. The Roman jewelry firm unveiled an Astrale jewelry collection and is gearing up for acquisitions through its private equity group Opera. In June, Opera struck a deal with Bear Stearns Merchant Banking, which calls for the U.S. firm to contribute up to 200 million euros, or $240 million, for acquisitions in areas like home furnishings, wine, food and fashion.
CHRISTIAN DIOR 169 Christian Dior Couture in July reported first-half revenue rose 16 percent to 274 million euros, or $336.2 million, driven by strong sales in the U.S. and Asia. Volume grew at double-digit rates across geographical zones led by the U.S., where retail sales in dollars bounded by 40 percent. The company has about a dozen stores in the works for the second half, including a flagship in Tokyo’s Ginza and stand-alone Dior Homme stores in Kobe, Japan and Shanghai.
H. STERN 160 H. Stern backed away from a plan to open a store in SoHo in 2002, but the Rio de Janeiro-based jeweler has a lot on its plate. The company teamed up with Diane von Furstenberg, who is designing a jewelry collection. The firm in the Eighties created jewelry with Catherine Deneuve, and recently with Brazilian furniture design firm Campana Brothers and singer Carlinhos Brown. The company has started wholesaling its fine jewelry and watches.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)