Piquadro believes in Lancel and its possibility to launch itself at a high level. The group led by Marco Palmieri bought Lancel from Richemont in June, 2018. The French brand, which was losing money at the time, is no inverting the trend: the goal is to grow by between 10% and 20% in the fiscal year going from April 2020 to March 2021. This objective aims at selling products for over 60 million euro in the fiscal year starting now.
Piquadro believes in Lancel
Marco Palmieri believes it: Piquaro’s CEO has outlined the path to follow to bring the brand back to growth, Coronavirus permitting. The first part is the wholesale channel in Italy. France, where the brand is present with circa 60 stores, is also a strategic area. “Comparable sales in the area have grown by between 9% and 10% till December – says Mr. Palmieri to MFFashion -. Starting next month, we will begin restyling all stores in the area”. Meanwhile, in the retail segment, Lancel has opened stores in Australia, Greece, Emirates and Moscow. 12 more retail locations should open in Asia, between Singapore (end of March) and China. “But we have to see how the global health situation develops”, stated Palmieri. Another investment made into Lancel comes from its Scandicci’s (Florence) production site, which has been strengthened.
“Lancel, which we have bought when it was losing money, has now reduced the losses to a third of what they were”, stated Mr. Palmieri to Fashion Network. The CEO also mentioned the good performance of the brand’s digital channel.