Italy based luxury fashion brand Mencler says that it will be opening or refurbishing 200 stores in the next three years and increase its online sales for its eponymous brand known for its puffer jackets to 25% of total revenue.
The company is planning to open 10 to 14 new stores across the Asia Pacific region including a flagship store in Beijing. In addition it will set up a China business unit at its headquarters and reinforce its organization in the country.
The company is also seeking to diversify its offering away from winter clothing, with spring-summer collections which account for over 33% of its revenues. Additionally, Moncler wants its footwear sales to account for 10% of its total sales by 2025. The company made these revelations during an investor presentation held on May 4.
The company reported a 60% increase in first quarter sales a similar situation like its industry peers who also recorded revenue boom across Europe and the United States. Moncler expects that by 2025 over 50% of its growth will be coming from China and the Unites States.