De Rigo: acquisitions in sight
De Rigo is targeting its own brands, Police and Sting, for the 2004 launch. A launch that could also be fostered by the strong euro, which, as group chief executive, Michele Aracri, declared in an interview in Il Giornale, 'also allows us to take important acquisitions into consideration. A distribution chain, for example, as in Spain with General Optica, and in Great Britain with Dollond & Aitchison'.
Expansion also envisages opening two branches in the United States. In the meantime, thanks to the new advertising campaigns with protagonists David Beckham and Michael Schumacher, the Police and Sting brands are selling very well. Sting has been particularly successful between Korea and Japan: 'We are focusing a lot on the Police brand for 2004', Giovanni Pivetta, marketing director of De Rigo, told Modaonline. 'We are making considerable investments in advertising and we are beginning to receive product requests from countries which are new for us, like Sweden, Greece and Mexico'.
The brands under license are also contributing to widening the group's horizons: 'In 2003 Givenchy acquired new markets, including Russia', Pivetta explained. 'Today Eastern Europe is fertile ground which will bring good results in a short space of time for Etro and La Perla.' Together with Police, Furla was the only brand that did not feel the crisis that crossed Italy between May and September, whereas Fendi continues to be the most significant client with regard to the group's consolidated billings.
Pivetta then spoke about the imminent acquisition of a new brand that is known throughout the world 'a true phenomenon which in recent years has involved not only young people, but has also created space for itself in all segments of the market.'
About Stock Exchange listing, Aracri explained, lastly: 'We were ready for the star segment and we still are. We have postponed it only because of the market's problems. We have practically zero indebtedness, thanks to cutting down costs and transferring Eid, the joint-venture with Prada, which ended last July'.
