MILAN — Belstaff is forging ahead with an expansion plan aimed at penetrating new markets, increasing the number of directly owned stores and adding product categories.
The goal is to generate half of consolidated turnover from directly operated stores, which now account for 20 percent, by next year. Belstaff posted sales of 75 million euros, or $98 million at current exchange, in 2009.
Also in the pipeline is a fragrance scheduled for January and a cosmetics line of creams on tap for June 2011, which will mirror the brand’s biker and outdoorsy spirit with sunscreens and antismog creams. Belstaff declined to disclose its partner for the project.
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Despite the still-shaky retail scene, the U.S. market continues to fuel Belstaff’s sales, a fact evidenced by a 40 percent increase in fall orders compared with the same period last year.
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In the U.S., Belstaff is carried at Barneys New York, Fred Segal, Scoop, J. Crew, Neiman Marcus Direct and Ron Herman in Los Angeles, among others. The brand will open a 10,800-square-foot store in September on Melrose Place in Los Angeles, and the search is on for an adequate space in New York, where the plan is to open next year.
“The robust sales increases that we’re registering in the U.S. are for us a very important signal, because many companies are still suffering,” said Manuele Malenotti, chief executive officer, who also called the company’s collaboration with J. Crew incredibly successful.
After recent openings in Bucharest, Glasgow and Prague, Belstaff has plans for ribbon-cutting ceremonies in Tokyo, Berlin, Paris and Vienna.
The company has 12 stores and is carried in 1,300 points of sale worldwide.
Belstaff’s love affair with the U.S. is partly kindled by its ongoing relationship with Hollywood. Most recently, its products have appeared or are due to appear in “Wall Street: Money Never Sleeps,” “The Tourist,” “Transformers 3,” “Harry Potter and the Deathly Hallows,” “Water for Elephants,” “Real Steel” with Hugh Jackman, and “This Must Be the Place,” featuring Sean Penn.
To make inroads in and possibly outsource a small part of the production to China, Belstaff is in the process of forming a venture with a Chinese partner, who will manage distribution and stores.
“The bulk of the production stays in Italy, but we’re mulling the idea of outsourcing the more technical and less elaborate pieces to China,” said Malenotti.