MILAN — Florentine fashion house Ermanno Scervino has signed an exclusive agreement with trading company Itochu Corporation, which is to distribute the brand’s women’s, men’s and accessories lines in Japan through the Coronet Corporation.
The deal, effective with Scervino’s spring-summer 2014 collections, aims to solidify the fashion house’s retail presence in Japan, with a new flagship slated to open in Ginza, along with shop-in-shops at major department stores.
“The Japanese market has enormous potential, with an increasing demand for products made in Italy,” said Toni Scervino, chief executive officer of the Ermanno Scervino Group, adding: “We are certain that, thanks to the partnership with market leaders Itochu and Coronet, we can accelerate our development strategy in Japan.”
Ermanno Scervino currently has 42 flagship stores internationally and has been present in Japan since 2003. Seventy-two percent of the brand’s sales stem from exports, and the company closed 2012 with 93 million euros in revenues, or about $119 million at average exchange for the period.
The Itochu Corporation also recently acquired exclusive rights to import and sell American brand Elizabeth and James in Japan. Along with Toray Diplomode, Inc., the firm is expanding the Japanese retail presence of Blue Les Copains, the diffusion line of Bologna-based Les Copains.