Italian shoe brands are looking to the Middle East and China for growth. The Russia-Ukraine conflict has worsened conditions in the European market, which was already lagging behind the Chinese and American markets due to the lack of tourists. The United States and China continue to perform well, but for luxury made in Italy, the Middle East has always been a substantial outlet. A route that now, in light of the geopolitical situation, is becoming increasingly important. This is confirmed by brands Gianvito Rossi, Santoni and Sergio Rossi.
“In these early months of the year, we are seeing a strong recovery of business in all areas of the world. We are focused on our expansion towards Asia, where we were perhaps less present in the past,” Gianvito Rossi told MF Fashion. “We are currently opening in both the Middle East and China”.
For Giuseppe Santoni, CEO of Santoni, the year has also started, well and prospects are good. The brand is already well positioned in the US. “Before this difficult time, Eastern Europe and the Middle East also performed well. Now, we are also developing in Asia, where we are planning a series of openings in Vietnam, Cambodia and also a project in Hainan,” the Marche entrepreneur told MF Fashion.
The Romagna-based company closed 2021 with a turnover of around 60 million euros, with a double-digit increase on 2020 and a recovery in profitability. One of the primary objectives of the brand at the time of the acquisition by Lanvin Group was the development of sales in China, where the new owners (former Fosun Group) are well introduced. This was confirmed to Fashion Magazine by Sergio Sciutto, CEO of Sergio Rossi: “This year, we will open 8 more shops in China, bringing the total to 20. We also expect a good trend in Japan, which currently hosts 17 direct mono-brand stores”.