Spanish fashion brand Desigual will launch a chain of shoe stores, with the first already present in Gran Via in Madrid, but it wants another store in the Spanish capital and 2 more in Barcelona.
Tested in Paris
The idea for separate accessory and shoe stores had already been tested in Paris in 2012, with a 35 sqm pop-up store in Rue de Faubourg Saint-Antoine. The new shoe stores will be slightly bigger, from 40 to 60 sqm.
Julie Latil was hired to lead the new shoe activity and she brings along her experience at luxury brand Hermès. At first, the shoe stores will only be located in Spain, not surprising as 95 % of Desigual's shoe collection is made in the Alicante region. The remainder is supplied by Italian subcontractors.
Eurazeo's investment gives financial freedom
Accessories and home textile, alongside shoes, have been part of Desigual's diversification strategy, as it seeks to expand these branches even further, especially abroad. The additional expansion is made possible through French Eurazeo's investment into the company. The investor added 285 million euro through a capital injection, in exchange for 10 % of the shares.
Desigual's 2013 turnover represented 828 million euro, an 18 % increase on 2012's results. Net profit reached 74 million euro, thanks to 405 own stores in 109 countries. On top of that, Desigual can be found in more than 11,000 multi-brand stores and 2,500 department stores.