In 2018, the company, which registered a 30 percent gain in revenues to 192 million euros compared with the previous year, has also seen its earnings before interest, taxes, depreciation and amortization rise 51 percent to 57 million euros.
The brand’s online business also grew 35 percent with Germany, the United States and Canada, accounting for the lion’s share of the brand’s e-commerce sales.
“I think the factors determining our growth are many,” said Stone Island president Carlo Rivetti, during an interview at the brand’s new Milanese flagship. “What I can say is that we didn’t do anything special, the market actually came toward us. Probably, we have products which are considered in line with the times and the requests of the market.”
Perhaps so, but even if Stone Island might have taken advantage of a market trend, the company is actually making important investments to support its constant growth. In particular, Rivetti said the company acquired 75 percent of its knitwear manufacturer Officina della Maglia. This strategic move will enable the brand to boost its knitwear segment, which already accounts for 15 percent of the company’s total business.
At the same time, Stone Island implemented its dyeing capacity by teaming up with Tintoria Emiliana, a supplier which has been collaborating with the label for 37 years, to create a dedicated factory for garment dyeing.
With the international markets accounting for 72 percent of Stone Island’s total business, between 2018 and the first quarter of 2019 the company expanded its retail network by opening stores in Venice, which although Italian is among the most important destinations for global travelers, Tokyo, Honk Kong, as well as a shop-in-shop in Shanghai.
“This year we will also open in Toronto,” said Rivetti, who also revealed that on Saturday [May 25] the company will debut its first boutique dedicated to Stone Island Junior, the line dressing boys aged 2-14. The new store will occupy the former Stone Island unit on Milan’s Corso Venezia.
“I think this is a great opportunity for us. Finally customers will have the chance to have access to the whole offering of children’s wear,” said Rivetti. The Junior line currently accounts for 6 percent of the company’s business.
While the company is putting the finishing touches on the revamped store on Corso Venezia, Rivetti proudly offered WWD a guided tour through the about 5,382-square-foot, two-story new flagship skirting Milan’s Golden Triangle luxury shopping area.
“After six years spent searching for the right space, we are happy and proud of this new flagship, which I think is the most beautiful we have, both in terms of location and interiors,” Rivetti said of the banner, which opened last week.
Showing an evolution of Stone Island’s signature concept developed by German industrial designer Marc Buhre, who is the founder of the Zeichenweg TM studio, the airy flagship, featuring major windows filtering the sunlight, sports an intriguing combination of materials for a masculine, strong and at the same time welcoming effect.
Bush-hammered stone, painted metallic mesh, carbon and anodized aluminum, mirror Alucobond and felt are the main materials, all showing tactile textures, taking center stage in the space featuring two levels connected by a stone and iron staircase with a yellow curved glass railing.
The brand, which is collaborating with specialized companies to prevent forgery and at the same time to reduce the impact of the waste of chemical processes on the environment, is launching today [May 23] an exclusive online sale of 100 pieces of the Prototype Research Series 04 jacket, manually flocked nylon, first presented during Milan Design Week last month.