MILAN — Borsalino is poised to develop into a way of life model, as proprietor Haeres Equita is actively spearheading new tasks and initiatives aimed toward rising the scope of the 164-year-old hatmaker.
The firm has not too long ago signed two licensing agreements for the manufacturing and world distribution of leather-based items and purses, in addition to tender equipment equivalent to ties, scarves, gloves and foulards with Modigliani and Isa SpA, respectively.
In an unique interview with WWD, Borsalino’s normal supervisor Mauro Baglietto, who quietly joined the corporate final September, stated “these two new licenses mark a turning point for the brand and come in the wake of the fine-tuning strategy set in motion over the past months.”
The first collections to bow underneath the brand new offers, each overlaying a five-year timeframe, will debut for spring 2022 and aren’t solely anticipated to spice up the corporate’s revenues but in addition supply a “full-fledged shopping experience, providing our clients with coordinated accessories that reflect the brand’s positioning in terms of style and price.”
The collections will make their retail debut with a primary drop in December aimed toward capitalizing on the vacation buying spree.
Baglietto expects licensed merchandise to account for 30 % to 40 % of the corporate’s revenues in two to 3 years. “The move came in response to a need shared by our clients that were looking for other accessory categories from us, so we expect that their performance will reflect this desire,” he stated.
“We’re trying to bridge the gap between our core business and licensed products. Imagining that these products are all displayed inside a flagship store, they need to exude the same spirit,” he stated.
To this finish, the spring 2022 assortment is impressed throughout classes by the travels of the corporate’s founder Giuseppe Borsalino, who left Italy to hunt higher alternatives in Paris. Creative curator Giacomo Santucci translated the escapism theme in three households of merchandise impressed by Japan, Sicily and South America.
Baglietto defined that catering to a youthful shopper base is vital for the model. This is in step with proprietor Haeres Equita’s marketing strategy for the corporate, set in movement after it received in 2018 the public sale arrange by the label’s directors by way of a deal valued at 6.4 million euros. The public sale put an finish to the troubled journey that began in December 2015 when Haeres Equita first took over the hatmaker.
For instance, Borsalino is debuting for spring 2022 its first co-branded assortment in partnership with French hip model Ami Paris, which might be adopted by comparable co-branding initiatives nonetheless being mentioned.
“Our artisanal production capacity is strong enough to allow us to experiment with different products and materials. This is a research lab that we treasure,” he stated, noting that the plant in Spinetta Marengo, close to the city of Alessandria, nonetheless produces headwear in the identical method it did within the nineteenth century.
“Co-branding is part of our strategic plan to gain credibility and tap into different customers’ targets, including the younger generations,” Baglietto defined, noting that Ami Paris additionally has a robust following in mainland China.
To make sure, territorial enlargement is an enormous precedence. The model counts 10 instantly operated flagship shops in Italy and one in Paris, however in keeping with the chief, it’s planning to roll out new models internationally, together with pop-ups “to test the market response” in key areas.
For occasion, the hatmaker has simply opened its first resort retail vacation spot on the Nammos luxurious resort on the Greek island of Mykonos, in partnership with its native distributor, and is gearing as much as unveil three pop-up outlets in Montecarlo, Saint Tropez and on the Sani Resort resort in Greece.
The model will even check the waters of journey retail, opening its first outpost at Milan’s Linate airport in September. “This [opening] is important for us to understand the potential of the channel and set in motion an expansion plan in that sense, as we believe it’s still an important segment to preside,” he defined.
While the pandemic-scuppered 2020 has been a “tough year,” he stated the primary months of 2021 confirmed encouraging indicators, due to the model’s core enterprise, which is enhancing following a consolidation in Europe and the U.S., the place the model is seeking to make up for the bottom misplaced as a result of pandemic, within the wake of the closure of department shops.
“The great challenge ahead is a more significant development in Asia,” Baglietto stated, noting that Japan is already a consolidated market however there are plans to set a stronger footprint in mainland China. “The brand is highly recognized there, as we used to see it by the number of Chinese tourists shopping at our flagships in Italy.”
As per the marketing strategy, there’s hope that within the aftermath of the pandemic Borsalino will have the ability to renew its plans to open extra flagships in these markets, whereas it concurrently works with native companions to develop its presence in Russia.
“We believe that physical stores, especially for our core products that need to be seen and tried on, is still crucial, although we’ve experienced a positive performance in online sales during the pandemic,” he stated, including that the net store was revamped for a extra seamless buying expertise.
In 2020, Borsalino managed to reinforce the variety of feminine buyers, rising the quantity from simply 20 % to 35 %, “although a lot of female customers buy hats that are billed as men’s styles,” the chief famous. He expects the ladies’s and males’s division to every account for 50 % of gross sales in 2022.