From a business standpoint, Gianguido Tarabini had little time to recover from his father’s sudden death in May.
That’s because after Gianpaolo Tarabini, who cofounded Blumarine with his wife, Anna Molinari, was killed in a hunting accident in Africa, his 38-year-old son was thrust into the pilot’s seat.
As much as he claims that he found “a well-oiled machine” in place, Tarabini has worked around the clock to deepen his knowledge of Blufin, the group that includes Blumarine, Anna Molinari and Blugirl, and to evaluate its potential when laying his growth plan.
Anna Molinari, who also launched a namesake collection in 1995 that is today designed by her daughter Rossella Tarabini, has designed Blumarine since its inception in 1977. The diffusion line Blugirl also bowed in 1995.
Priorities for the future include new licensing agreements, the opening of Blumarine stores and improving service and delivery to boost the number of doors, especially in the U.S.
Though Blufin, based in Carpi, Italy, is a private, family-run company, Tarabini released 2006 sales figures. Net profits climbed 21 percent to 2.3 million euros ($3 million at current exchange), and total sales rose 4.8 percent to 101.8 million euros ($132 million).
Better known for garden-glory floral prints, embellished cashmere knitwear and girly dresses, Blumarine attracts a string of celebrities like Sharon Stone, Brittany Murphy, Kate Winslet, Carmen Electra and Cristina Ricci.
Based on his past experiences, Tarabini is treading on fertile turf as he plants seeds for growth.
Tarabini joined the family firm in 1992 to get a 360-degree vision and was appointed licensing manager for Blufin 12 years later.
He was also involved in expanding the retail network and is still chief executive of Hotel Touring, in Capri, which is owned by his mother, Anna Molinari.
To fatten the bottom line, Tarabini is finalizing a licensing agreement for footwear with a key manufacturer, which sources indicate is Vicini.
“Right now, the shoes are an underexploited category as they only complement the apparel and have a sparse distribution outside our flagships,” said Tarabini. “We want to change that because we’ve noticed a strong interest in footwear.”
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The search for a new licensor also applies to Blumarine’s fragrances after its contract with Schiapparelli ended in January.
A new urban sportswear line called Blugirl Folies, based on denim and embellished T-shirts and sweatshirts, will be introduced for fall. With an average wholesale price of 65 euros, it targets ages 14 to 25.
To prove his commitment to this strategy, Tarabini recently hired a licensing manager, Jean-Marc Russenberger, previously at Versace and Roberto Cavalli.
Tarabini is also convinced that the company needs to improve the manufacturing process and streamline deliveries, especially in the U.S.
Already he has computerized the ordering process, which was still a handwritten exercise, and is pushing back the timing of pre-collections.
“This way, not only do the orders reach the plant quicker, but there is less margin of error,” said Tarabini.
Unlike his father, who preferred the peace and calm of Carpi to the bustle of New York or Tokyo, Tarabini spent a couple of months shuttling around the globe, from New York to Taipei, Dubai to Kuwait City.
He said the experience helped him garner a better sense of the cities’ energy, trends and retail panorama.
While Tarabini wants to boost the brands’ relationships with top American department stores, Blumarine’s first Stateside flagship will open in Miami in October.
The brand is also ironing out a new, brighter and more luminous store concept that will kick off with the makeover of Blumarine’s Milan outpost. Blumarine, which has 67 stores worldwide, will open a venue in Paris by yearend.
“My dad taught us all never to bite off more than we could chew,” said Tarabini. “But, slowly, we want to exploit the company’s potential.”