Trussardi unveils new brand strategy at Pitti Uomo
Trussardi has begun a new chapter, and chose Italian trade show Pitti Uomo, which is currently running in Florence until January 10, to make its announcement. Italian fund QuattroR acquired over 60% of the brand in February 2019 and began a major reorganisation of the label in recent months in order to reposition it in the market in terms of both its products and its image. As summarised by the brand’s new management at Trussardi’s stall at the trade show, the brand aims to be “inclusive, while still expressing a certain idea of luxury”.
The brand has taken its heritage as the starting point from which to put forward its lifestyle, the "prêt-à-vivre" (ready-to-live) spirit that saw it gain success in the 1980s with a series of products ranging from clothing to furniture to accessories. A large amount of work has been done in order to restore coherence to the Italian brand which saw its numerous product lines and formats lead to a blurring of its brand image.
Trussardi now centres its brand around its main product line which is divided into three segments, best (its top of the line range), better (its premium offerings), and Trussardi Jeans (its youngest and most accessible line). A single brand now covers the label’s entire concept with prices ranging from €90 ($100) to €150 for t-shirts and sweaters, from €150 to €250 for knitwear, and from €1,200 to €1,300 for leather goods.
“We have elevated our Trussardi Jeans range and repositioned our luxury products at a more accessible price point to standardise our range around a single identity,” the brand’s CEO Maela Mandelli, who joined the company in September 2019, told FashionNetwork.com. “That is to say, a premium brand that oscillates between urban-wear and effortless chic.”
This new directive has resulted in new merchandising and offerings in the brand’s stores where items that no longer fit with its new positioning have been removed. Iconic Trussardi pieces such as leather blazers and trench coats have been reinstated in the brand’s stores. “The results have been very promising with a 15% increase in sales in the last quarter of 2019,” said Mandelli.
As part of this initiative, part of the brand’s production has been relocated to Italy and other parts of Europe and the brand’s delivery schedule has also been reconfigured with new products launching in stores every two months. Through its new “Beautiful Minds” project, collaborations with young artists and creatives tasked with revisiting the brand’s archives will revitalise its image and will also allow for more continued and editorial offerings.
In March, two bag designs will be released, created by sisters Camilla and Giulia Venturini who run accessories brand Medea. Trussardi also took the occasion of Pitti Uomo to unveil its 80-piece collection by Giorgio Di Salvo, creative director of the young streetwear brand United Standard. Di Salvo’s capsule collection is both causal and chic and notably uses the brand’s signature greyhound emblem on sweaters.
The brand, which just recently opened a commercial showroom in Paris, counts 200 stores across the world including 50 franchises, and is distributed through 5,000 re-sellers. The brand plans to restructure its delivery network in 2020. The brand’s main market is Italy which makes up between 30% and 40% of sales followed by Russia, China, and Europe.
The business expects its revenue total of €150 million in 2018 to decrease in 2019 due to its ongoing restructuring activities which has led to the closure of several stores. “But in the last quarter, the company should post a slightly positive Ebitda after recording a gross operating loss for over three years,” said Mandelli, who underlined “the opportunity for Trussardi to begin again on a solid basis.”
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