Group CEO, Sandro Veronesi commented, “In April we will open a Shanghai store showcasing our historic labels Calzedonia and Intimissimi. It will be our first store in (Mainland) China, part of a project for a further series of openings in the country, where Calzedonia is popular. We already have a retail presence in Hong Kong and Japan, and expansion in China will be a key step forward for our growth in Asia.”
Also Read – H&M to open 430 new stores in FY ’17
It may be noted here that the Calzedonia Group operates over 4,000 stores (about 2,400 outside Italy) and has a staff of over 32,000 employees. In 2015, its 50 per cent of consolidated revenue was generated from outside Italy. So looking at the gripping turnover, the Group is looking to expand with new stores outside Italy.
Two months ago the Group announced its first US foray. “We recently opened a pilot mono-brand store in the New York area, where in 2017 we plan to have ten stores with the Calzedonia and Intimissimi brands. We are keen to test a market where competition is very strong,” mentioned Veronesi.
Calzedonia Group owns brands like Calzedonia, Intimissimi, Tezenis, Falconeri, Signorvino and Atelier Emé.