MILAN — Il Bisonte expects to return to development in 2021.
The Florence-based equipment model, which earlier this month celebrated its fiftieth anniversary with an occasion staged in Florence throughout Pitti Uomo, sees nice potential within the U.S. market particularly.
According to chief government officer Luigi Ceccon, the corporate, which closed 2020 with gross sales down 25 % to 27 million euros in comparison with 2019, expects to generate revenues of 30 million euros in 2021, up 11 % in comparison with final yr.
Despite the lower in revenues in 2020, Ceccon highlighted that Il Bisonte succeeded at lowering by 60 % its web debt to 2 million euros. “This was possible even if we continued to invest,” stated Ceccon, who revealed that between 2020 and 2021 the corporate allotted 2 million euros to spice up its digital transformation.
Supported by its mother or father firm, Look Holdings Inc. that’s listed on the Tokyo Stock Exchange and that acquired the label in 2019 from the Palamon Capital Partners personal fairness, Il Bisonte can also be reorganizing its construction to fulfill the wants of the digital world. “We made strategic appointments across all the departments, but the focus has been on tapping digital-native professionals,” stated Ceccon.
Operating a community of 49 shops in Japan, in addition to a number of flagships throughout Europe and the U.S., together with a boutique on New York’s Bleecker Street, Il Bisonte is attempting to spice up its on-line enterprise that final yr accounted for 7 % of the model’s complete gross sales. “Fifty percent of the e-commerce sales were made in the United States,” stated Ceccon, including that the label lately entered main U.S. shops, together with Bergdorf Goodman, Neiman Marcus and Saks Fifth Avenue.
While the U.S. accounts for between 5 and 6 % of the model’s complete enterprise, Japan is Il Bisonte’s main market, accounting for greater than 50 % of its turnover.
“The goal now is to expand in the Western world, across the United States and Europe,” stated Ceccon, who additionally sees good potential within the males’s division. “Our business is now focused on women’s bags, but we think there are interesting opportunities in the men’s segment,” he stated, highlighting that the corporate is creatively evolving its heritage line and its extra modern providing. Il Bisonte’s signature vegetable-tanned leather-based items are manufactured by a provide chain positioned inside 18 miles round Florence.
In conserving with the corporate’s deal with sustainability, Il Bisonte took half within the celebrations for the 700th anniversary of Dante Alighieri’s loss of life by donating to town of Florence a everlasting star-shaped tree set up conceived by artist Felice Limosani. Located within the San Donato Park in Florence’s Novoli district, the set up, together with 50 30-year-old willow oak bushes, will contribute to lowering air pollution within the metropolis.
“This project was inspired by the story of Yacouba Sawadogo, one of the United Nations’ Champions of the Earth 2020, who successfully planted trees in the desert in Burkina Faso,” stated Ceccon. “We have been really impressed by his story and we wanted to give our small contribution to the sustainable cause.”
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