Tuesday, 5 May 2020

MSGM opens tenth store in China as Covid-19 crisis rages

Undaunted by the Covid-19 pandemic, MSGM continues to broaden its retail footprint by opening a new store in China. The contemporary ready-to-wear label by designer Massimo Giorgetti has announced the opening of a store inside the Grand Emporium shopping mall in Zhengzhou, the capital of Henan province, located between Beijing and Shanghai.

The 75 m2 store features a broad selection of MSGM products, including the menswear and womenswear collections and the accessories range. It was opened by MSGM in partnership with its Shanghai-based Chinese distributor, Raigoal International Trade.

In the last two years, the expansion of MSGM’s direct retail network has picked up speed, after Italian investment fund Style Capital acquired a 32% stake in the label in 2018. This has been true especially in China, where MSGM opened nine stores in 2019.

MSGM operates 42 stores worldwide (in Italy, the UK, France, South Korea, China, Hong Kong, Japan, Taiwan, Singapore, Malaysia and Macao), and it is also distributed via 600 multibrand retailers. Its global revenue is estimated at between €50 million and €60 million, with Europe accounting for 45% of the total, Asia for 30%, the Americas for 10% and the rest of the world for 15%. 

No comments:

Post a comment