Ballantyne starts again from scratch and opens its very first new store
Ballantyne has returned to Milan’s luxury district to start a new chapter in its history. The long-standing Scottish cashmere label, founded in 1921, was sold last year by Italian investment fund Charme Investments to Veneto entrepreneur-designer Fabio Gatto, through the Corso Italia Ltd company. After the setbacks of the last few years, Ballantyne is now starting again from scratch, opening its very first new store.
The 50 m2 store, upholstered in black velvet, was recently inaugurated at 18 via Bagutta, Milan. It will act above all as a laboratory in which the label will be able to test collaborations with other premier Italian brands.
After acquiring the label, Fabio Gatto has entirely reorganised the business, bringing cashmere production back to Scotland and overhauling the whole distribution network. In one year, the women’s collection’s share of sales has notably grown from 10% to 50%.
“This store represents a crucial stage in the brand’s relaunch experience, allowing us to stay closer to our Italian customers, while also having a top-notch international showcase ,” stated the President of Ballantyne in a press release. For the current year, the revenue forecast is €5 million.
For the new store’s inauguration, Ballantyne presented the ‘Heritage’ capsule collection, featuring the label’s distinctive lozenge pattern and focusing on two motifs, one animal-themed, the other floral.