2019 has big news and ambitious goals in store for Balmain and Alexander McQueen
The French fashion house, controlled by Mayhoola for Investments, the fund owned by Royals of Qatar, intends to triple the revenues in the medium term starting from a turnover that in 2018 should be between 180 and 185 million euros. Aiming at supporting sales will also be the contribution of the special team dedicated to the development of sneakers. If in fact the opening of a new plant in Scandicci is a clear investment in leather goods, Balmain is also working on a project that, as CEO Massimo Piombini explained to MF Fashion on the sidelines of the inauguration of the new Paris store, “comes from the idea of bringing the brand closer to the vast public that already knows it, but who has difficulty approaching the product”. The vertices have built a “company in the company”, independent for development, production and merchandising. “We have also signed an agreement with Selfridges – adds Piombini – to open a pop-up two weeks before the world launch, taking place in June”. Alongside the sneaker project, Balmain is preparing to introduce a series of new openings in America, Asia and Europe.
Instead, Alexander McQueen aims at reaching a one billion turnover. In an interview with Business of Fashion, the CEO of the Kering brand Emmanuel Gintzburger explains that “the brand has a great potential” and that “it could be one of the first luxury houses in the world in terms of assets and creativity”. The top manager then highlights how the incidence of ready-to-wear for Alexander McQueen is “greater than what happens to brands that are already over one billion euros” and that what distinguishes the brand “is not a specific category, but a specific silhouette”. According to BoF estimates, the brand should close 2018 with a turnover of between 350 and 400 million. However, these are hypotheses, as Kering does not include the results of smaller subsidiaries. Today Alexander McQueen has 64 stores all over the world and within 16 months, as announced by Gintzburger, “there will also be one in Milan and Paris”.