Footwear brand Aldo Bruè seeks financial partner to launch in USA and double revenue
Italian footwear and accessories group Bruè S.p.A., owner of the Aldo Bruè label, is ready to expand in the USA next year, and intends to bolster the project by seeking a financial partner willing to acquire a stake in the company. In an exclusive interview to FashionNetwork.com at the theMicam trade show in Milan, group director Stefano Luzi talked about Aldo Bruè's ambitious plans.
“Our brand already enjoys a solid reputation in the USA, so we believe we are ready to do business there directly, by setting up a New York-based trading company with a US partner," said Luzi, the CEO of AB Servizi, a wholly owned subsidiary of Bruè S.p.A. "In order to do so, we are seeking a financial partner, willing to acquire a 30% stake in the company. We will initially focus on the wholesale channel and department stores, both with our collections and by manufacturing for private labels, and eventually consider monobrand stores."
In the meantime, Bruè S.p.A. has strengthened its position in Asia, by opening stores in Hong Kong and Jakarta, and is working to consolidate contacts in Korea and Japan.
Aldo Bruè is specialised in men's footwear - 95% of its output - with only a small women's line. It also produces bags and overcoats as line extensions, especially for the Russian market. This year, a new line of watches was created in collaboration with the licensed manufacturer for long-established Italian footwear label Bruno Magli. Bruè S.p.A. holds a production license for the latter since last February, with exclusive distribution rights for Magli’s men's and women's shoes in Europe, Russia and former Soviet republics.
The group's revenue forecast for 2017 is €17 million, up from €15.5 million in 2015. Thanks also to expansion in the USA, the group is aiming to double its revenue by 2021.
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