MILAN — Chiara Ferragni Collection has signed a five-year licensing agreement with Italian high-end children’s wear specialist Monnalisa. The license will enable the brand founded by the influencer and digital entrepreneur to further expand in the kids’ wear category, which so far featured a limited offering targeted for baby girls only.
In particular, under the new license, Chiara Ferragni Collection will include apparel for children up to age 10 starting from the fall 2021 collection. The line will be distributed both in the brand’s flagship and Monnalisa’s sales points globally, as well as on the respective online platforms.
The Tuscan company — which already produces and distributes collections for children up to age 16 under the Monnalisa, Jakioo and Hitch-Hiker labels — distributes in more than 60 countries through 48 directly operated stores and 500-plus multibrand doors, including Harrods, Rinascente, Galeries Lafayette, Saks Fifth Avenue, Harvey Nichols and Tsum, to name a few.
Founded in Arezzo, Tuscany, in 1968 by Piero Iacomoni and Barbara Bertocci, Monnalisa has been listed on the Italian Stock Exchange since 2018 as part of the AIM program, which targets small and medium-size firms. Last year, the company reported revenues of 47.9 million euros, with exports accounting for 67 percent out of total sales. But the pandemic affected the financial results in the first half of 2020, as the company’s sales totaled 15.1 million euros, a 38 percent drop compared to the same period last year.
Following the announcement of the deal with Ferragni, by mid-day trading on Monday, Monnalisa’s shares were up 12.12 percent to 3.70 euros.
“This agreement is an unprecedented opportunity to employ all our expertise — from a creative, productive, commercial and distribution standpoint — drawing on major economies of scale,” said Monnalisa chief executive officer Christian Simoni. He enthused about his company being “involved as the vehicle for this young but absolutely iconic brand to take off, benefiting at the same time from the global reputation of this extraordinary digital entrepreneur, followed closely also by young mothers as a model of a determined woman to identify [with].”
Ferragni, who counts almost 22 million followers on Instagram and holds the roles of both ceo and creative director at her label, defined the operation as “a further step in the comprehensive and global development of the brand.”
As reported in September, the digital entrepreneur was already eyeing children’s wear as one area of interest to expand her business, which was launched in 2014 under the Serendipity company she helms.
At the time, she revealed that after investing in a capital increase, Serendipity inked a new licensing agreement with Swinger International — which also owns Genny — for the production of ready-to-wear, handbags and accessories branded Chiara Ferragni. Footwear will continue to be produced by Mofra, the previous rtw and accessories licensee.
Thanks to the new strategic asset and license, the goal for the company is to reach sales of 15.4 million euros in 2025 with a net profit of 4.4 million euros, and earnings before interest, taxes, depreciation and amortization margin of 44 percent.
To further sustain this plan, the brand will debut an eyewear collection, whose launch was pushed from September to March next year in light of the pandemic, and is eyeing the fragrance and makeup categories after the success of Ferragni’s two beauty capsule collections developed with Lancôme.