Twin-Set aims for internationalisation and retail expansion
Alessandro Varisco, the CEO of Italian fashion label Twin-Set Simona Barbieri, spoke at the 21st Fashion & Luxury Summit on 'Innovation and Speed', organised in Milan on 10th November by consultants Pambianco and by Deutsche Bank. His talk addressed the new challenges facing the brand.
"Companies today are like platforms that need to be made wholly digital," said Varisco in his initial remarks. The CEO defined Twin-Set as "not a luxury label, but an alternative to luxury, but a world that does inspires us," and stated the brand will be paying close attention to another crucial element, namely story-telling. "Ours is a lifestyle product that speaks several languages as it tries to communicate with consumers. Twin-Set wants to become an entertaining company, capable of generating emotions," said Varisco.
Twin-Set Simona Barbieri was acquired 4 years ago by the Carlyle investment fund, which began to work on the label's international growth (65% of revenue is currently generated in Italy) and on transforming the company's focus from wholesale to retail-oriented one. "This is a highly complicated process," said Varisco, "in the last few years, retail sales management has increasingly become an exact science, one that however must be complemented by story-telling and the ability to generate emotions." Twin-Set’s CEO revealed that the Italian fashion label's objective for the next few years is to split revenue equally between Italy and abroad, and to improve EBITDA.
"Twin-Set is trying to temper its strong Italian feel with the ability to create a product whose style will appeal to consumers worldwide, while still preserving the company's DNA," said Varisco. The CEO ended by remarking how the Carpi textile district in Italy, where Twin-Set is located, is beset by a lack of communication among local companies, limiting the growth potential of the entire district.
"The textile supply chain is a major Italian asset, and change is necessary to generate innovation, but there is a psychological resistance to it; I trust in the new generations," concluded the CEO.
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