The future of luxury menswear – an exclusive interview with Stefano Canali
Stefano Canali, General Manager of Canali SpA has spoken to CPP-LUXURY.COM exclusively about the key strategic decisions behind the continued success of his company, one of the leading international luxury menswear companies.
How has your company performed in 2013 and what are your expectations for the rest of the year?
Beside the economic trends we are proud of our growth. In 2012 we had a + 15% compared to 2011 and we are expecting a similar growth for 2013. On the basis of the results for 2012, America is our first market followed by Emea and Asia Pacific Region
What is your view of mono-brand franchising versus directly operated stores?
Retailing is strategic for the luxury world, first of all for the opportunity to have a direct contact and feed-back from the customers, but also in order to provide an exclusive customer experience showcasing and communicating the entire world of the company in terms of product variety and cohesive message. However there are also positive aspects with regards to franchising stores like the opportunity to work with partner deeply embedded in their countries and with a strong local culture knowledge that can support brand awareness differently
Earlier this year, you have undertaken an ample re-branding process. What motivated this process and what benefits are you expecting?
We have solid deep-rooted values which we have decided to highlight and strengthen through a visual identity with a contemporary feel. We’ve conveyed our sartorial expertise and knowledge, attention to details, creativity and innovation into a new harmonious logo, an exclusive texture and the modern colours of elegance to illustrate the taste of the past and express a timeless sense of style.
We have developed a new exclusive signature to communicate our distinctive values and messages. Something that will be quickly recognizable.
Most of your new store openings this year have focused on Asia, including a flagship store in Shanghai. What is your perception of the Chinese market in terms of luxury consumption?
Asia is a fundamental market, thanks to the expansion that it offers, and China is for sure one of the most important country where in 10 years we have opened more than 70 stores, including Hong Kong. Chinese consumer’s expectations have been growing more and more as they have become more conscious of the value and quality of luxury products beside brand, something we are extremely pleased of as we consider it a driving force to our brand’s excellence
Which markets do you target for future openings?
We will focus on our key markets and scout new opportunities all over the world. We are specifically interested in all the markets where luxury requests is more consistent.
As one of the few remaining independent houses, have you been approached by luxury groups? Would you consider an IPO versus a potential sale?
We are constantly approached by luxury groups and not only but at the moment we are not interested in that kind of opportunity. This is our current vision.