Palm Angels to open a store in Paris
Palm Angels is accelerating its expansion. The luxury streetwear label, owned by Farfetch via New Guards Group and led by Francesco Ragazzi, has opened three stores in less than a year. After landing in the United States and Italy, it is now planning to set up shop in Paris. According to our sources, the company has chosen an address in one of the most coveted luxury shopping streets in the world, at number 217 Rue Saint Honoré, not far from the Saint Laurent flagship. This will be a great opportunity for Palm Angels to consolidate its image and positioning in the high-end segment.
The store opening represents a strategic move for Palm Angels, giving it a direct foothold in one of the most prestigious destinations for fashion and luxury. It first opened two stores in the United States, in Miami in August 2021 and in Las Vegas four months later, which is an important market for the brand that draws its inspiration from the Californian aesthetic. In June, Palm Angels opened its first store in Europe, in Milan, at Via Verri number 4 in the city's luxury quadrilateral.
The store covers 150 square meters and has a new creative concept designed by Ragazzi in collaboration with the French architectural firm Gilles & Boissier, which has been in charge of Moncler's retail network for years. Walnut woodwork, oak beams, raw cement walls and granite tile floors characterize the décor, described as "ethno-chic", where items are displayed in a "fluid, eclectic and spontaneous" way. The same interior design will be used in Paris, as well as in future Palm Angels stores.
The ready-to-wear brand, which was launched in 2015 and has been staging fashion shows in Milan since 2017, has expanded its product range in just a few years. In addition to its menswear and womenswear collections, the brand launched a kids' collection for children aged 4 to 12 years old, as well as a line of glasses produced in-house and a fragrance line together with the Swedish company 16-69. It has also just launched a home line offering cushions, blankets, candles and other home decor pieces.
Palm Angels has also launched many collaborations over the past few years, including with Missoni, Vilebrequin, the electric bike manufacturer Mate and Moncler, where Ragazzi was artistic director for over 10 years. The brand is known for its logo featuring gothic letters that is frequently displayed on clothing, as well as the palm tree or cannabis leaves motifs, and mainly offers T-shirts, sweaters and other tracksuits, with a cool and carefree Californian attitude seen through the Italian perspective (and quality) of its creative director.
In 2021, the company New Guards Group (NGG), which was acquired at the end of 2019 by the British e-commerce platform Farfetch, purchased a 60% stake in Palm Angels, leaving the remaining 40% to be owned equally by Ragazzi and Davide de Giglio, co-founder and head of NGG.
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