Bogner announces ambitious 2022 strategy
today Nov 11, 2016
"Establish [Bogner] as sport fashion's international luxury and premium brand."
German label Bogner, owned by Willy Bogner, has nailed its colours to the mast. By 2022, the Bavarian brand is planning to grow its wholesale business to €300 million. The new management team, led since August by Alexander Wirth, wants to reverse the trend of declining global revenues, which has characterised Bogner in the last few years.
From approximately €220 million four years ago, revenue fell to €202 million last year, and a 5% decrease is expected in 2016. To buck this trend, management has devised a new strategy, involving an overhaul of the label's organisation in 2017.
From having several different divisions, Bogner will now comprise only one operational unit. It intends to expand its licence business and its partnerships, and especially to "quickly grow online sales and sales via social media, giving priority to expansion in Germany, Austria and Switzerland, in Europe and North America."
Bogner currently generates just over half of its revenue through wholesalers, and intends to triple its sales in six years, increasing its department store presence, opening new stores via new partners and growing in multi-brand stores.
Bogner is currently present in 54 partner stores, about one hundred shop-in-shops, 1,400 multi-brand stores as well as 21 branches and 11 factory outlets.
To bolster its expansion, the brand will target directional clients in the premium segment, besides its current focus on the luxury one. As a result, Bogner has revised its product range, with a new segmentation and three price categories.
The new 'B-Athleisure' line will combine ready-to-wear and sport apparel. The 'Smart Casual Living' range is positioned in the chic, casual everyday-wear segment, while the 'Sônia Bogner' collection slots into the luxury niche.
The brand will stay true to its sporty approach, focused especially on skiing and Alpine sports, and is targeting by 2022 total retail sales worth €550 million.
Two years ago, Willy Bogner was thinking about selling the company, but the new management has indicated that such a sale is no longer on the cards. The company is instead open to finding new partners with know-how in retail, web and commercial real estate.
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