MILAN — It’s a busy fall for Dsquared2 founders Dean and Dan Caten.
Ahead of amfAR’s The Inspiration Gala in Los Angeles on Oct. 29, where Dsquared2 is the official fashion sponsor, and as their brand’s 20th anniversary celebrations continue, the twin designers are planning an event in New York on Saturday to mark the label’s first year in retail in the U.S.
In an exclusive interview, chief executive officer Gianfranco Maccarrone discussed the brand’s ongoing retail expansion, revealing that the company is expected to finish 2015 with revenues increasing 10 percent to 230 million euros, or $261 million at current exchange rate.
“Our growth continues according to the plan to open 50 stores in five years,” said Maccarrone, noting a double-digit rise in retail sales. Last year, 14 new units opened in cities ranging from New York and Los Angeles to Shanghai, Hong Kong, and St. Moritz, Switzerland. By the end of the year, Dsquared2 will have 12 new stores, including boutiques in London, Miami, Dubai and Singapore. Ten are planned for 2016, including in Las Vegas at The Shops at Crystals in the first half, and in Rome in Via del Babuino in March, and units in Madrid, Munich and Barcelona.
The company has also entered the Middle East, with new stores in Kuwait and Qatar.
The company is planning to open three boutiques in China, where it is already present with units in Shanghai and Beijing. “Despite China’s phase of reassessment, there are opportunities for important projects. We have the good fortune to be present only in key cities, and things did not backfire for us there, as there was no overload,” explained Maccarrone. “We are benefiting from the situation, with more interesting spaces being available.”
The firm is also exploring Europe now, leveraging the information gathered from online sales in Germany, for example, then moving onto France, where there are already boutiques in Paris, Cannes and Spain. The company’s wholesale channel accounts for 70 percent of total sales and is registering a 5 percent growth rate.
Asked about supporting the pace of the global development, Maccarrone said, “This is a healthy company, which follows a program of organic and self-financed growth.”
Dsquared2 has a strong online business, working with the Yoox Group — an “excellent collaboration,” Maccarrone said. The brand will also be available on Net-a-porter.com now, following the merger of the two e-tailers into Yoox Net-a-porter Group. “We are starting an important alliance,” he observed.
The U.S. is the company’s main market online. Globally, 2015 online sales are seeing a 40 percent increase and “continue to grow,” the executive said.
Sales of accessories, bags, and men’s and women’s shoes are growing, now representing 30 percent of total revenues, and the new stores support the “correct display” of merchandise.
The company has just introduced a new women’s fragrance, called “Want,” with longtime licensing partner ITF. “Our licenses with ITF and Marcolin [for eyewear] continue with great satisfaction,” said Maccarrone.