Valextra accelerates abroad with a new concept store
today Nov 25, 2014
Valextra is picking things up. The Milan-based luxury leather goods brand, whose majority shareholder is British investment company Neo Investment Partners, is accelerating its retail development under the leadership of its new CEO, Alessandra Bettari, with a fall season rich with new stores.
The label has just opened its first flagship store in New York, at 833 Madison Avenue, unveiling its all new concept designed by architect Marco Costanzi.
The 13,000 ft² two-level space is characterised by a discreetly elegant style that calls upon three characteristic elements: "Ceppo di Gré" stone, very common in Milanese architecture, brass, and leather, a primary Valextra material, recalling the brand's artisanal know-how.
Within this new store, there is a space dedicated to a new "made-to-measure" service allowing customers to personalise their bags. "The goal is to give Valextra, a synonym of timeless Milanese luxury, new visibility," explained merchandising and sales director Marco Scarpella.
Another major project is the renewal of the brand Internet and e-commerce site, managed directly by the latter. "The new platform, which is to be launched shortly, has been entirely reviewed and enhanced. We have invested a lot into this project, which we genuinely consider as a new opening. It will be a special site, aiming to stir up emotions all while giving meaning to brand's value of luxury," summed up Marco Scarpella.
The label, whose principle market is Asia (representing between 55 and 60% of its total sales), is actually also getting ready to open its first flagship store in Hong Kong in December, an 860 ft² location in the luxury IFC (International Finance Center) commercial centre.
With these two new openings, Valextra will be selling a capsule collection created by Italian artist-designer Martino Gamber exclusively in its New York, Hong Kong and e-commerce stores.
Valextra plans on closing 2014 with a revenue of 23 million euros, up 25% compared to 2013. By the end of the year, the label could have 11 directly managed single-brand stores (7 in Japan, plus 1 each in Singapore, Milan, Hong Kong and New York), as well as 6 stores in South Korea opened by its partner Samsung.
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