Stone Island is expanding its retail presence in Greater China, with the opening of three new stores in the region.
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The Italian luxury brand, owned by Moncler Group, opened new two new stores in Shanghai and Ningbo, respectively, in August, with a third store for slated for Macau next month.
Developed by Rem Koolhaas’ OMA/AMO studio, the new Stone Island flagships boast a n industrial aesthetic, made up of blasted sand and rammed earth, with vibrant colours splashed throughout.
The Shanghai store, located inside the TaiKoo Li QianTan retail development, spans 1,872 square feet, a tad smaller than its location in Ningbo’s Hankyu mall, which serves as is brand’s largest, covering 2,000 square feet of retail space. The flagship at Macau Galaxy, the first in that market, spans 1,500 square feet, as will open on September 7.
The new stores expand upon Stone Island’s retail network in China and the Asia-Pacific region, opening alongside locations in Beijing, Shenzhen, Chengdu, Nanjing and Hong Kong.
“Following the internalisation of our distribution and the establishment of our new regional office in Shanghai last November, these new openings underline the progress we are now making in structuring our DTC (direct-to-consumer) network in China, a market which offers significant potential for the Stone Island brand in the years to come,” Robert Triefus, chief executive officer of Stone Island, told WWD.
In its most recent trading update, Moncler said first-half revenues rose 11 percent to EUR 1.2 billion. In Asia (which includes APAC, Japan and Korea) revenues were EUR 513 million, up 19 percent, following a 6 percent sales uptick in the second quarter.
Sales in the region were driven by strong growth in Japan, supported mostly by tourists, as well as by a good performance in the Chinese mainland, despite the tough comparable base and the increase in Chinese consumption abroad. Korea and the rest of APAC showed softer trends.
In the first half, Stone Island revenues totaled EUR 188.9 million, down 6 percent.
In 2020, Moncler acquired 70 percent of Sportswear Company SpA, owner of the Stone Island brand, before taking full control of the firm in 2021.