De Rigo Vision closes 2011 with 12% growth
Michele Aracri: "The best way to beat the crisis is to continue to invest in design" De Rigo Vision's wholesale division closed 2011 with billings of 214 million euros, up 12% compared to the previous year and confirming the positive two-figure trend achieved last year. The increase in turnover, more than two percentage points higher than forecast, is mainly due to the Group's internationalization strategies that consider Europe, Asia, Middle East, Russia and the United States to be the most important markets, especially for the luxury brands in the company's portfolio. Also contributing to significant growth is house brand Police, up +14% against 2010. Among the new additions that stimulated market interest was the new license De Rigo acquired last July for the design, production and worldwide distribution of the Lanvin brand. Recognized as one of the coolest fashion house of the moment, this prestigious label complements the Longarone group's rich portfolio of licenses and increases leverage on the international development of business with selective distribution in Europe and the US. For De Rigo internationalization also means understanding different markets and providing them with increasingly targeted products: "The best way to beat the crisis is to continue to invest in design, because today's consumers are always looking for an attractive product that meets their expectations", stated Michele Aracri, Managing Director of the De Rigo Group. "In order to fully understand the trends and needs in different countries and, as a consequence, create the most suitable product, we have opened product/design offices in Hong Kong, Tokyo and Seoul". Another antidote for the crisis according to De Rigo Vision is to study targeted marketing strategies for the different markets in which the Group annually invests about 10% of its billings. Aracri continued: "We make significant investments in key countries so that we can bring consumers closer to our brands through customized initiatives; the combination of a global vision of the business and specific local actions that leverage the tastes and trends in each country".
