MILAN — Cover 50 is expanding Stateside.
Listed on Milan Stock Exchange’s AIM Italia Alternative Market of Capital segment for small- and medium-sized companies, Cover50 SpA, which operates the high-end PT01, PT05 and PT01 women’s pants lines and PT Bermuda collection, has opened a branch company in the U.S.
Called PT U.S.A. Corp, this will manage and distribute Cover50 brands in the United States, along with operating a 4,305-square-foot showroom on New York’s Madison Avenue, opening its doors in March.
“We strongly believe that the United States can offer us great perspectives for growth,” said PT U.S.A. Corp. worldwide commercial and marketing director Mario Stefano Maran, who also noted that in the last four years the taste of American men have changed and that they have become more attentive to fashion trends.
Cover50, which already sells its collections in about 50 points of sales across the United States, including Saks Fifth Avenue and Barneys New York, will soon introduce its made-to-order service, which was first launched in Japan, in that market.
With a business model very focused on exports, Cover50 lists Europe as its first market, followed by Asia, with Japan accounting for 18 percent of the company’s total sales.