Claudie Pierlot sees Asia as ‘next growth vector’
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After consolidating its presence in Europe, fashion label Claudie Pierlot sees strong potential in Asia, particularly China.
It is the smallest of the three labels owned by SMCP group, with Maje and Sandro already well established. Claudie Pierlot joined the group in 2009, and in the past three fiscal years has grown sales by nearly 30 per cent. It topped the €100 million revenue mark last year.
Accounting for 16 per cent of the group’s total revenue of €786 million (US$933 million) last year, the label is expected to increase by yet another 30 per cent this year.
Claudie Pierlot is opening between 20 and 30 retail outlets a year, half of them ‘corners’ and half monobrand stores, most directly owned. This rate of expansion has brought the label’s total network to 200.
Claudie Pierlot GM Isabelle Allouch says the label is already growing in Asia given its style and accessible luxury positioning.
After being acquired by Chinese group Shandong Ruyi, SMCP has a solid infrastructure in the region and is pushing hard to speed up brand development there. As a result, Claudie Pierlot has opened 10 stores in the past 12 months, in Hong Kong, Mainland China and South Korea.
More stores are expected to follow in each of these countries on account of SMCP’s impending stock exchange listing. “The region is clearly our next major growth vector,” says Allouch.
Claudie Pierlot was previously established in Japan, thanks to partnerships set up by its founder before the label was bought by SMCP. “We are entering countries one by one, so we will first concentrate on China. Japan will come later,” says Allouch.
As well as working on its retail network, the label is also busy in the accessories category, which it wants to grow to become 10 per cent of the business. As well as footwear, it last month added a signature handbag to its product line.
Questions & Answers
Q.How much revenue did Claudie Pierlot generate last year, and what percentage of the SMCP group's total revenue did this represent?
How much revenue did Claudie Pierlot generate last year, and what percentage of the SMCP group's total revenue did this represent?
Claudie Pierlot topped €100 million in revenue last year. This accounted for 16 per cent of the SMCP group's total revenue of €786 million.
Q.What is Claudie Pierlot's current network size and how many new outlets does it typically open each year?
What is Claudie Pierlot's current network size and how many new outlets does it typically open each year?
The label's total network has reached 200 outlets. Claudie Pierlot typically opens between 20 and 30 new retail outlets each year.
Q.Which Asian countries has Claudie Pierlot recently expanded into and where will it focus its future efforts?
Which Asian countries has Claudie Pierlot recently expanded into and where will it focus its future efforts?
Claudie Pierlot has recently opened 10 stores in Hong Kong, Mainland China, and South Korea. It will first concentrate on China, with Japan to follow later.
Q.What is Claudie Pierlot aiming to achieve with its accessories category, and what new product did it recently add?
What is Claudie Pierlot aiming to achieve with its accessories category, and what new product did it recently add?
The label wants the accessories category to grow to 10 per cent of its business. Last month, it added a signature handbag to its product line.
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