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MILAN — Excelsior Milano is expanding its footprint.
Developed by retail giant Coin Group, the luxury department store, which unveiled its first door in Milan in September 2011, opened a new location in Verona. In addition, a third flagship is set to open in Rome next year.
“We are very happy with the Excelsior format because I think that, in such a critical moment for independent retailers, it represents a point of reference for those brands that don’t look only for commercial results but that also want their products to be showcased in the best and most appropriate way,” said Coin Group chief executive officer Stefano Beraldo. “The Milan store is performing very well,” he added, denying rumors to the contrary. According to the executive, revenues for the first year were in line with forecasts and, in the three months of 2013, revenues were 25 percent up compared with the same period the year before.
Beraldo was also optimistic about the performance of the new five-story Verona unit. “For the first year, we aim to generate gross sales of between 25 million euros [or $32.5 million at current exchange rates] and 30 million euros [or $39 million],” he said.
Located on the city’s central shopping street Via Mazzini, the 39,828-square-foot store, designed by architects Aldo Cibic and Vincenzo De Cotiis, features a wide selection of fashion items, along with beauty products and food. As in Milan, it counts a food market-cum-restaurant in the basement, along with a café on the ground floor.
“While in Milan we brought a very innovative and niche selection of brands with an unusual and edgy merchandising mix, in Verona we decided to focus more on established luxury labels,” Beraldo said. In Milan, Excelsior teamed up with high-end independent retailer Antonia Giacinti, who curated the store’s three floors dedicated to accessories, men’s wear and women’s wear. Likewise, in Verona the department store joined forces with Francesco Galli, owner of several boutiques across the country, including doors in Verona, Mantova, Brescia, Bologna and Riccione.
The ground floor, which also hosts Prada and Tiffany & Co. corners, carries accessories from a number of brands, such as Bottega Veneta, Balenciaga, Dolce & Gabbana and Givenchy. It features a selection of beauty labels, including Tom Ford, La Mer, Aveda, Dior, Chanel and Guerlain.
The first and second floors are dedicated to men’s wear and women’s wear, respectively, and include labels including Aspesi, Borsalino, Golden Goose and Stone Island for men’s, along with Marni, Repetto, Prada, Brunello Cucinelli and Burberry for women’s.
The last floor features a selection of contemporary women’s brands, including Kenzo, Kitsuné Tee, Kolor and Theyskens’ Theory.