BERLIN — German denim label Mustang isn’t letting poor economic conditions stand in the way of an ambitious expansion plan.
This story first appeared in the March 19, 2009 issue of WWD. Subscribe Today.
The company opened its largest store to date at the end of February, a 2,350-square-foot flagship in Frankfurt that’s almost double the size of Mustang’s more traditional locations. The store stocks not only the complete latest collections, but also all of the brand’s licensed merchandise.
“The opening of the flagship store in Frankfurt is part of our move to make Mustang a more vertical brand,” said chief executive officer Heiner Sefranek. “This will allow us over the medium term to double our group turnover to 200 million euros,” or $255 million at current exchange.
The flagship is located on the ground floor of the new, futuristic My Zeil shopping mall in the center of Frankfurt that opened in February. Using functional concrete, wood and steel, the shop goes back to basics with a warehouse feel softened with a red-carpeted lounge near the changing rooms.
By the end of the year, Mustang plans to open four more flagships, in Beijing, Hong Kong, and Stuttgart and Cologne, Germany. Through 2010, the label aims to increase the total number of stores worldwide to 480 from 198. At the moment, 29 of these stores are located in Germany.
According to Mustang’s management, increasing the number of stores and becoming a more vertical label will allow the brand to position itself more effectively — the aim being to improve its image and attract new consumers. By boosting the label’s presence on the high street, Mustang also hopes to pull in new wholesale customers.