MILAN — Malo is knitting a new future for itself.
Without shunning its heritage of plush cashmere knitwear, the brand, owned by IT Holding, has developed a growth plan based on broader collections with a contemporary spin.
The arrival last July of designers Tommaso Aquilano and Roberto Rimondi of the 6267 line marked the beginning of Malo’s drive to be edgier, lure new sales points and broaden its customer base.
To be credible, Malo’s chairman Giacomo Santucci believed it was necessary for the clothes to be associated with a face — or faces, in this case — rather than with an anonymous design team.
“We want to build brand image alongside awareness,” said Santucci.
Aquilano and Rimondi’s 6267 line won the Vogue-sponsored Who Is On Next contest a year ago with a collection that melded big-screen glamour with innovative tailoring.
Santucci said Malo was expanding its offerings beyond knits because “not only is knitwear an overcrowded market, but depending on China for cashmere is very risky.”
In Santucci’s opinion, Malo should be more fashion-driven since “people’s drawers are filled with classic cashmere sweaters.”
In the near future, Malo expects the percentage of its business to be equally split between knitwear and wovens. Currently, 70 percent of the company’s revenues come from knitwear and the remainder from wovens.
Stores that lauded Malo’s new fashion direction and that carry the line include Bergdorf Goodman, Neiman Marcus and Saks Fifth Avenue in the U.S., Selfridges in London and Lane Crawford in Hong Kong. Malo also has 30 freestanding stores around the world.
“First, we want to consolidate the collection to then reach out to new sales points that aren’t necessarily interested in cashmere,” said Santucci.
To up the international quotient, Malo showed its spring line in New York during fashion week. The Sixties-driven collection spotlighted structured volumes and bigger silhouettes with a Mod streak. Detail was key, with cabochon glass beads applied to tulip skirts, shorts and oversize totes.
In the knitwear arena, there were slouchy cashmere sweater dresses or flat knit shifts with a Lurex border.
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Accessories, a growing category for Malo, included oversize bags with braided handles and sculpted patent leather platforms. Santucci said footwear was launched by a team of designers hailing from Prada.
Wholesale prices range from $1,000 for a long cashmere cardigan and $1,400 for a glass embroidered silk bomber jacket to $2,000 for a lightweight cashmere coat.
Santucci said Malo registered double-digit growth in sales this season. Malo’s first-half sales grew 13.6 percent, to 22.6 million euros, or $27.8 million at current exchange.