Gilmar acquires stake in N°21
Gilmar is acquiring a stake in 2112, the company that controls N°21, with intention of accelerating the latter’s development. Launched in 2010 by Alessandro Dell'Acqua, when the designer had just walked away from his own luxury fashion house, the “advanced contemporary” ready-to-wear line has been a dazzling success story, going from a turnover of 4 million euros in 2012 to 24 million expected for 2015.
"We have produced and distributed No. 21 since July 2012. In two years, the brand has seen a huge degree of success. This year, we expect 55% growth, which has led us to strengthen our relationship with Alessandro Dell'Acqua, especially since we are convinced that N°21 still has a lot of growth potential," said Gilmar CEO Paolo Gerani, who has just acquired a 30% stake in N°21 through the company 2112. No details have been revealed regarding the amount of the transaction.
This manufacturer from San Giovanni in Marignano (central Italy) has long specialized in knitwear and owns such ready-to-wear brands as Iceberg, while, beyond N°21, it produces and distributes under license Fausto Puglisi, Siviglia and Paolo Pecora. Gilmar’s turnover in 2014 amounted to 100 million euros.
"The goal is to accelerate N°21’s retail expansion, as, for now, it’s primarily distributed through the wholesale channel. We want to open a brand store in Milan, and then flagships in our main key markets," said Gerani. Other projects in the pipeline: the launch of an eyewear collection and a childrenswear line. Discussions are underway with partners.
N°21 offers a complete look for women, including shoes (produced under license by Kallisté) and bags, as well as a menswear collection launched 4 seasons ago that represents 20% of sales. “Our success is due to the fact that we offer high quality products at a fair price. It’s a contemporary line that has a very design edge. In other words, it’s a luxury product without the luxury price,” said Dell'Acqua.
“I’ve held onto my identity with a style that’s both feminine and mixed with a slightly more masculine attitude, with a strong emphasis knitwear, which has always been important to me. But compared to what I was doing when I started, I’m much more attentive to the needs of women. My customers range from 20 to 60 years old. The most important thing is that the garments leave the store - that they’re sold! With this project, I really started from scratch," said the Neapolitan designer, who is also the creative director of Rochas.
N°21 is currently available in 500 multibrand locations around the world as well as in a store in Tokyo and two shop-in-shop in Seoul that were opened in partnership with local distributors. It’s available in all markets (Italy, Russia, Asia, the Middle East, etc.) and is sold in France at les Galeries Lafayette, Printemps and Kabuki.
What’s more, on Wednesday, it will become available on the site GilamrLab.com. Finally, the brand plans to strengthen its presence in the United States, where it has just entered into an agreement with a new partner, the distributor CD Network, while it plans to subsequently expand in China.
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