Claudie Pierlot sees Asia as ‘next growth vector’
After consolidating its presence in Europe, fashion label Claudie Pierlot sees strong potential in Asia, particularly China.
It is the smallest of the three labels owned by SMCP group, with Maje and Sandro already well established. Claudie Pierlot joined the group in 2009, and in the past three fiscal years has grown sales by nearly 30 per cent. It topped the €100 million revenue mark last year.
Accounting for 16 per cent of the group’s total revenue of €786 million (US$933 million) last year, the label is expected to increase by yet another 30 per cent this year.
Claudie Pierlot is opening between 20 and 30 retail outlets a year, half of them ‘corners’ and half monobrand stores, most directly owned. This rate of expansion has brought the label’s total network to 200.
Claudie Pierlot GM Isabelle Allouch says the label is already growing in Asia given its style and accessible luxury positioning.
After being acquired by Chinese group Shandong Ruyi, SMCP has a solid infrastructure in the region and is pushing hard to speed up brand development there, reports Fashion Network. As a result, Claudie Pierlot has opened 10 stores in the past 12 months, in Hong Kong, Mainland China and South Korea.
More stores are expected to follow in each of these countries on account of SMCP’s impending stock exchange listing. “The region is clearly our next major growth vector,” says Allouch.
Claudie Pierlot was previously established in Japan, thanks to partnerships set up by its founder before the label was bought by SMCP. “We are entering countries one by one, so we will first concentrate on China. Japan will come later,” says Allouch.
As well as working on its retail network, the label is also busy in the accessories category, which it wants to grow to become 10 per cent of the business. As well as footwear, it last month added a signature handbag to its product line.