FINE CHINA: At the Ferragamo show Sunday, chief executive Michele Norsa said the family-owned company plans to open 30 stores this year, with 10 in China. Also, it is entering the Turkish market for the first time, with a boutique opening in Istanbul in June and a shop-in-shop in Ankara. South Africa is also a new market the brand, which plans to open a store in Johannesburg in the second half of the year.
Earlier in the day at Marni, ceo Gianni Castiglioni, also touted the potential of China, where the company has just opened a store in Shenzen. In July, the brand will open a boutique at the Ion Orchard luxury mall in Singapore. “2010 has kicked off much better than last year, with markets picking up globally,” said Castiglioni. In particular, sales in the U.S. grew 20 percent in the first two months of the year, said the executive.