The Italian women’s contemporary label has introduced a different store concept for the new venue, located in the SoHo district.
“While the store on Madison features a very institutional concept, the boutique in SoHo shows a very different mood to reflect the different attitude of the neighborhood,” Pinko president Pietro Negra said. “It’s a kind of loft with a postindustrial aesthetic and it’s different not only in terms of design but also of product offering, which is more contemporary.”
“The sales of the stores in New York and Miami would be able to give us relevant signs on the performance of the brand in the market,” said Negra, who aims to introduce CRM-based activities in the U.S. soon. “The retail results will give us the chance to elaborate a wholesale strategy.” Negra said sales at the Madison Avenue store “have almost reached the budget,” the company had set, but declined to provide financial details.
Currently, Pinko is sold in a dozen multibrand stores in the U.S.
Pinko expects to close 2016 with 12 percent growth compared to 2015, when the company generated revenues of 174 million euros, or $193.14 million at average exchange. In particular, the U.K., Spain, the Czech Republic and Poland had the best results, as well as the Middle Eastern market.
However, Italy still represents the first market for the label, accounting for 50 percent of the company’s total business. Negra expects international markets to account for 60 percent of the brand’s revenues next year.
In March, Pinko will also open a new store in Tokyo’s Aoyama district.