Moa plans 50 new stores in Europe in 2017, hitting 200-store mark and expanding product range
Moa continues to build its network. Last year the French jewellery, fashion accessories and leather goods retailer opened 35 stores in France and 15 abroad, and is now operating 165 branded stores internationally.
Moa was founded in 2002 and made a name for itself in the budget fashion accessories sector, before experiencing difficulties and going into receivership in 2013. The retailer got off to a fresh start in 2015, opening about forty stores and adopting a new visual identity, its signature colour changing from navy to black.
In 2016 Moa stepped up the pace with about fifty new openings: in France, 8 of them were directly-owned, and the others in franchising, located both in Paris and throughout the country.
Moa's new openings are targeting larger catchment areas than before: "We are now looking at areas with 35,000-plus inhabitants only," said Cyril Tarica, founder and CEO of the retailer, in which the Etam group is a minority shareholder.
Moa is working on its domestic store network, but as the same time expanding abroad. It opened two stores in Belgium's capital, Brussels, which proved successful enough for Moa to plan another two in March, one in Brussels and one in Charleroi. In 2016 Moa also moved into Russia, opening 8 stores with a local master franchisor, while entry into Bulgaria is planned for 2017.
For 2017, Cyril Tarica is planning to keep up last year's pace with some fifty openings, 25 of which are already a done deal. Moa is aiming for premises from 60 to 80 m2, where it can showcase a range which now includes also footwear, costume jewellery and scarves. The brand has worked on its product mix: "We have adapted our range based on the success of some lines, and on the season. We will intensify the development of fashion accessories (hats, and the cocooning range, for example), as well as the Mimi Moa line for young girls, and we are keen to bolster the jewellery range, with a new silver line and one in gold-plating," said Tarica. At the end of 2015 Moa also launched a make-up line, and a swimwear one in summer 2016.
In the latest fiscal year Moa generated a revenue of €29 million, equivalent to a €50 million sales volume, and to a 20% growth over 2015.
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