Latest news with #LucaLisandroni
Fashion Network
16-07-2025
- Business
- Fashion Network
Luxury fashion: what future for multibrand stores after a decade-long decline?
Squashed between luxury labels' boutiques and low-cost chains, such as Shein, Temu and Zara, independent multibrand retailers have gradually lost ground, and ceased to provide a market outlet for premium and mid-range brands. Having limited resources compared to large luxury groups, mid-size, emerging and new brands find it very hard to cope with the investment levels required to open stores, investments that are often unprofitable because they are way too high for these brands' size. 'These brands have positioning and durability problems. They have been penalised by the crisis of multibrand retailers, which used to play a crucial role in curating and discovering smaller labels, often less recognised by consumers. The role retailers play as talent-spotters is essential,' said Solca. 'Our customers don't need anything, but they're all looking for something. It's up to us to give it to them. Apart from those who already know which labels they love, there are other consumers, another 50% of the market, who are entering the luxury sphere now, and need to be guided, inspired. That's where our greatest challenge lies. To overcome it, multibrand retailers are sorely needed,' said Luca Lisandroni, co-CEO of Brunello Cucinelli, speaking at the Altagamma conference. 'Multibrand stores are very important, because they train our ability to listen. It's an extremely modern channel, much more relevant than we think, because it's an open system. It puts brands face to face with a different point of view, that of the retailers who select and interpret our collections,' he added. Among multibrand chains that are currently successful, the Bernstein study cited US group Mitchell Stores, and Sogo & Seibu from Japan, acquired by US investment fund Fortress Investment Group. Sogo & Seibu has successfully redesigned its flagship store in Ikebukuro in Tokyo, showcasing its range of men's and women's luxury ready-to-wear on the same floor. 'These two examples show how the traditional formula can be improved. There are also mass-market players, such as Inditex, which are successfully expanding into the premium segment. Finally, there are new players - online giants like Google, assisted by AI, or Amazon. Each in their own way, they're seeking to position themselves in fashion's medium and high-end segments. Adopting a hybrid physical/online format could enable multibrand retailers to make faster inroads into the premium segment, as shown by the merger between Amazon and US department store Saks. That's very interesting. In fact, it's opened the floodgates,' said Solca. Another interesting initiative is the partnership recently forged between Italian multibrand store LuisaViaRoma and the collective e-shop of the independent multibrand retailers affiliated with the Camera Buyer Italia (CBI) association, creating the first 100% Italian luxury marketplace. 'Major luxury labels owe a great deal of their success to Italian multibrand retailers. However, this channel has never been valued. The deal with LuisaViaRoma will enable us to create our own ecosystem and gain visibility,' said Maura Basili, president of CBI. Something to keep an eye on.
Fashion Network
16-07-2025
- Business
- Fashion Network
Luxury fashion: what future for multibrand stores after a decade-long decline?
Squashed between luxury labels' boutiques and low-cost chains, such as Shein, Temu and Zara, independent multibrand retailers have gradually lost ground, and ceased to provide a market outlet for premium and mid-range brands. Having limited resources compared to large luxury groups, mid-size, emerging and new brands find it very hard to cope with the investment levels required to open stores, investments that are often unprofitable because they are way too high for these brands' size. 'These brands have positioning and durability problems. They have been penalised by the crisis of multibrand retailers, which used to play a crucial role in curating and discovering smaller labels, often less recognised by consumers. The role retailers play as talent-spotters is essential,' said Solca. 'Our customers don't need anything, but they're all looking for something. It's up to us to give it to them. Apart from those who already know which labels they love, there are other consumers, another 50% of the market, who are entering the luxury sphere now, and need to be guided, inspired. That's where our greatest challenge lies. To overcome it, multibrand retailers are sorely needed,' said Luca Lisandroni, co-CEO of Brunello Cucinelli, speaking at the Altagamma conference. 'Multibrand stores are very important, because they train our ability to listen. It's an extremely modern channel, much more relevant than we think, because it's an open system. It puts brands face to face with a different point of view, that of the retailers who select and interpret our collections,' he added. Among multibrand chains that are currently successful, the Bernstein study cited US group Mitchell Stores, and Sogo & Seibu from Japan, acquired by US investment fund Fortress Investment Group. Sogo & Seibu has successfully redesigned its flagship store in Ikebukuro in Tokyo, showcasing its range of men's and women's luxury ready-to-wear on the same floor. 'These two examples show how the traditional formula can be improved. There are also mass-market players, such as Inditex, which are successfully expanding into the premium segment. Finally, there are new players - online giants like Google, assisted by AI, or Amazon. Each in their own way, they're seeking to position themselves in fashion's medium and high-end segments. Adopting a hybrid physical/online format could enable multibrand retailers to make faster inroads into the premium segment, as shown by the merger between Amazon and US department store Saks. That's very interesting. In fact, it's opened the floodgates,' said Solca. Another interesting initiative is the partnership recently forged between Italian multibrand store LuisaViaRoma and the collective e-shop of the independent multibrand retailers affiliated with the Camera Buyer Italia (CBI) association, creating the first 100% Italian luxury marketplace. 'Major luxury labels owe a great deal of their success to Italian multibrand retailers. However, this channel has never been valued. The deal with LuisaViaRoma will enable us to create our own ecosystem and gain visibility,' said Maura Basili, president of CBI. Something to keep an eye on.
