Philippe Model to expand internationally, opening stores in Milan and Paris
today Dec 15, 2016
Philippe Model is set on a new course, energised by its new majority shareholder, Benetton's 21 Investimenti investment fund. The Parisian-born sneaker label has appointed a general manager with experience in the luxury world, Andrea Pesaresi, with a view to expanding internationally.
Philippe Model essentially poached Andrea Pesaresi in early December from Ermenegildo Zegna, where he worked for 25 years, lately as the luxury label's Global Brand and License Director. His arrival goes hand in hand with a strengthening of the management team, especially in marketing and sales, and with renewed investment.
"The objective is to relaunch Philippe Model via a more international outlook and a multi-channel type of distribution. The label is currently sold in [about one thousand] multi-brand retailers and through its e-shop, which accounts for 5% of our sales. We are keen to expand our retail sales by opening Philippe Model stores," Pesaresi told FashionNetwork.
The plan is to open a first directly owned store in Milan's uber chic Via Sant’Andrea next February. The same will happen in Paris' equally sophisticated Faubourg Saint-Honoré area, by the end of 2017 or early 2018, followed by openings in Tokyo, Seoul, London and New York.
According to 21 Investimenti, Philippe Model generated a revenue of €30 million in 2015, half of it in Italy. France is the brand's second market, with about one hundred multi-brand clients including department stores, and accounts for 12% of sales, followed by Germany, Japan and South Korea.
Philippe Model also operates two showrooms, one in Milan and a recently opened one in Paris.
21 Investimenti took control of Philippe Model in July 2016, after purchasing a 75% stake in the company. The rest of the capital is still owned by Creative Director Paolo Gambato and Italian entrepreneur Roberto Doro, who in 2008 had taken over the brand, founded in the 1980s by the eponymous French fashion accessories designer.
In the last few years, Philippe Model concentrated on high-end sneakers for women, men and children, retailing at prices between €250 and €400 and manufactured at the label's headquarters in Vigonovo, in Italy's Veneto region. "Quality is our main asset," concluded Andrea Pesaresi.
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