Jan 12, 2015
Stefano Ricci considers going public in 2016-17
Jan 12, 2015
Stefano Ricci aims to devote 2015 to its products and to expanding its direct sales network. Its plans for an IPO, which the Florentine luxury brand specialized in menswear has been working on over the past two years, has been pushed back.
"The Stock Exchange listing will not happen before the end of 2016, or early 2017," said a spokesperson for the house, denying rumors that suggested the listing as imminent.
In 2014, Stefano Ricci expects a turnover of over 150 million euros, up 15% as compared with 2013. As for the outlook for 2015, it’s too early to tell, given the economic uncertainty in markets that are strategically important for the brand.
In Russia, for example, where the brand has 4 brand stores (2 in Moscow, 1 in St. Petersburg, 1 in Yekaterinburg) and where it generates 7-8% of its total sales, "a decline was recorded with new customers, although purchases by regular customers have been maintained, while the stores in Kiev and Ukraine have more than just slowed down," said the company, which claims to have recorded a boom, however, in the United States. "In particular, in our two stores in New York and especially in Los Angeles, where results were remarkable,” said the house.
This year, Stefano Ricci is planning eight new store openings, including a flagship store in Shanghai set to open by February followed by a store in Milan on the chic Via del Gesù and an outlet in Düsseldorf.
Focused on high-end, 100% made in Italy and strong international expansion, the Florentine group, overseen by the Ricci family, is also preparing to double its production during the first three months of the year. The company, which moved from Florence to Fiesole in the surrounding hills in 2012, plans to expand its headquarters with an additional 27,000 ft² dedicated to the production of leather accessories, which represent 40% of its turnover.
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