According to its president Carlo Rivetti, the company expects to close 2016 with revenues of more than 100 million euros, or about $113 million at current exchange, up 20 percent compared with 2015.
“We are growing in all the markets and with all the categories,” said Rivetti, who revealed that the sales of the fall 2016 collection — the company’s most successful in the last 20 years — increased 26 percent compared with the previous year.
The United Kingdom and Germany continue to be leader markets for the brand, but Italy is also successfully performing. “This year the domestic business is expected to register a 16.8 percent increase [compared to last year],” Rivetti said.
The brand, which was previously focused mainly on wintry outerwear, continues to expand its offering not only with transitional jackets — summer sales represent 45 percent of the company’s total business — but also with sweatshirts, knitwear, T-shirts, polo shirts, trousers and swimwear.
Stone Island is also growing in the United States, where the company operates a flagship in Los Angeles. “We expect to open a store in New York before the summer,” said Rivetti, who highlighted that the company’s current goal in North America is to dramatically increase the brand’s awareness with potential customers. The successful cobranding collaboration with Supreme — its third edition in March — certainly played a pivotal role in this strategy.
Stone Island has expanded its productive plant in Italy’s Emilia Romagna region, adding 20 employees.
The firm forecasts to close the year with online sales up 20 percent compared to 2015. It has introduced in Italy and Germany an in-store pick up and return service, as well as the chance to buy products available in the online catalogue from the boutiques and expects to make these options available for U.S. costumers very soon.
Stone Island currently operates seven doors in Italy, nine in Europe, as well as three across the Far East and United States.