Italian fashion brand Cruciani intends to strengthen its market position in China. In 2014 the Italian brand posted a turnover of €51million (up 35 per cent year on year). The brand is wholly controlled by the Caprai family (also renowned wine producer).
Cruciani has recently signed a five-year joint venture with D-Mop (an Asian company listed on the Hong Kong Stock Exchange) for the distribution of the brand Cruciani in the markets of Greater China, Hong Kong, Taiwan and Macao.
Through the new partnership, in which Cruciani has a 30 per cent stake, 87 stores (single branded) will be opened over the next five years. According to the agreement a total of €67m will be invested as follows: shops refurbishment (€7m), goods and stock (€12m), rent (13 million), personnel (€5.3m), logistics (€10m) and communication (€20m).
Five flagship stores will be opened in strategic cities such as Shanghai, Beijing, Hong Kong and Taipei. The aim of this expansion plan is to strengthen the brand presence in Asia and to generate total revenues of €246m within the next five years.
Cruciani garments are created and produced entirely in Italy and the brand includes several product lines such as: clothing, bracelets, bags and fashion accessories. Cruciani has recently opened its first flagship store in Italy under the brand name “Cruciani C Bags”, which sells, exclusively, bags and accessories. The new store is located in Forte dei Marmi, a city on the coast of Tuscany.
Cruciani also has a line of jewellery and pop art items. The latter are created in partnership with well-known artists like Mauro Perrucchetti, whose artworks are on display at the Expo in Milan.
Cruciani To Open 87 Fashion Stores In China speed read:
– Cruciani will open 87 stores (single branded) in China
– Italian brand posted a turnover of €51million
– Cruciani has recently signed a five-year joint venture with the Chinese D-Mop
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