Corneliani discard IPO or equity and speed up expansion Corneliani flagship store, London
Italian luxury menswear house Corneliani aims at opening 20 new mono-brand stores worldwide by the end of the year, according to Cristiano Corneliani, Global Sales Director. Currently, Corneliani has 87 mono-brand stores worldwide, of which 47 in China, where the company set up a subsidiary for a better control of its operations. In a recent interview to Italian media, Cristiano Corneliani ruled out an IPO or selling a stake to an investor, admitting there have been numerous approaches by investment funds in the recent months. Corneliani reached a total turnover of 135 million euros in 2011, with a 4% growth and the positive trend is expected to be maintained for 2012.