MILAN — Cesare Paciotti is returning to Paris. The Italian footwear brand will hold a presentation in the French capital on Saturday and chief executive officer Marco Calcinaro said the move marks the next stage for the company, after a financial setback.
“This will show that nothing has changed,” said Calcinaro during an interview at the Paciotti showroom here.
After filing a petition for composition with creditors, the company, which was founded in 1948 in Civitanova Marche, has set up a new strategic plan, reorganized its structure and streamlined its wholesale accounts.
Calcinaro underscored that the family is behind the relaunch and that the namesake designer remains president, with 50 percent of its shares, while his sister, Paola, holds the remaining stake, and that a new board has been set up.
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Calcinaro said the firm was overexposed to the Italian market, which had grown to account for 65 percent of sales. Now, sales in Italy account for 33 percent of revenues. The company is “strongly represented in Europe and Russia. Despite the crisis, Russia remains important,” said the executive, noting that wholesale is “working well” in the Far East, where retail “must be strengthened.”
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Paciotti entered the Middle East in 1998 in Dubai, and the region continues to be important for the brand. Calcinaro also pointed to Bal Harbour and Los Angeles as two key markets in the U.S. for the brand. The company has stores in Milan, Rome, London, Paris, Miami and Los Angeles, as well as 26 franchised units.
In terms of product, the executive said the company has refocused on its design guidelines. “There had been some dispersion. We can’t be liked by everyone,” he explained. The firm also has a strong men’s business, which accounts for 65 percent of total revenues. An expansion in handbags is also a major project for the company, he said.