Iro relies on multiple levers of growth
Iro is drawing its roadmap for the coming months and plans on accelerating its digital strategy, penetrating new markets, and developing its men's collection. In order to execute this, the French ready-to-wear brand is counting on the Chinese fashion group Ellassay, which took control of the label in August 2019, after increasing its capital to 50% in 2016.
Although the health crisis took a toll on its business through the closure of its points of sale, online sales have helped maintain Iro’s revenue, although the brand does not specify its figures.
"Digital transformation has truly been at the heart of Iro's strategy since 2017. Significant investments have been made on the technical and human front and this has helped sustain its figures. We have put in place tools to become an omnichannel company. Iro's business model remains solid thanks to the multiplicity of its distribution network and the internationalization of its market," said Richard Fettaya, CEO of Iro.
Under Ellassay's leadership, the teams have also expanded. Six months ago, Iro welcomed Tiffany Biou, who was formerly at Sandro, as marketing and digital director.
Retail-wise, Iro has 90 points of sale worldwide of which 40 are in Asia, 40 in Europe and 10 in the United States. This development, which is 90% internally operated, is important for the brand as it wants to be present in major cities around the world. In 2021, the brand opened three new points of sale in London, Melrose (California) and Barcelona. "Wholesale is also a historically important market for Iro, mainly in Europe and the United States. It is sustainable for the company because it allows us to sell to more than 1,000 customers who are divided into two categories: distributors and multi-brand stores," explained Fettaya.
Iro, which aspires to become a leader in contemporary fashion, is also cultivating other sources of growth such as establishing itself in new territories and further developing the men's line and the accessories line, which still only represent a small share of sales. This year, Iro will also announce its CSR ambitions.
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