Since a few days famous notebook producer Moleskine is publicly traded at the exchange in Milan. At that occasion it was announced that the Italian company will be opening ten new shops this year, which would more than double the current number.
487.6 million euro
Moleskine, founded by Milanese publisher Modo & Modo in 1997 to bring the “legendary” notebooks by Vincent Van Gogh, Pablo Picasso and Ernest Hemingway back to life, is traded at the stock exchange in Milan. This was the first big initial public offering of the year in Italy.
The opening price of the stock was 2.30 euro, giving the company – owned by investment fund Syntegra Capital since 2006 – a value of 487.6 million euro. Moleskine is not the small company it used to be: each year the brand grows 25% and last year it sold fifteen million products, worth a total of 78 million euro.
Quadruple growth strategy
The company owes this phenomenal growth to a well-considered strategy, making the company a regular in the luxury branch (a notebook costs about ten euro). The strategy has four pillars:
- Diversification: Moleskine is not only a producer of notebooks. Since two years it develops writing materials and luxurious covers for iPads. It also has more and more deals with companies and museums, creating customised products.
- Internationalization: Moleskine is also looking for more customers outside of Europe: 36% of sales are from the United States and 11% from Asia. The rest of sales are made in Europe.
- Expanding retail network: Moleskine wants to open five more boutiques this year, in Shanghai and Beijing. Today the brand has twelve shops, in January there were only seven. It also sells its products in 24,000 bookshops, design stores and department stores.
- Online: Moleskine also focuses on the internet. The Italians already have a European and American online shop, the ideal channels to reach people in countries with insufficient sales locations.