Besides giants of the sector in Spain, other fashion players in the country also created goals for 2020 to reinforce their commercial network or double their revenue.
Retail expansion, digitalization, revenue records. Most of the biggest operators of the fashion industry created at some point some strategy to reach goals. Like in anniversaries, rounded figures are used as an excuse to put a deadline, and in fashion, 2020 is the key year in which many plans of companies, expire.
One of the first ones to put 2020 as its goal was Puig. In 2014, the perfume company marked the goal to arrive at the global top 3 in its sector, rising its percentage in the market to 12% in 2020.
At the closure of its fiscal year 2018, the group arrived at 10% in its sector. As for its goal to enter the global top 3, Puig is still far, registrating a revenue of 1.9 billion euros, number that leaves the company out of the global ranking of the biggest perfume companies.
Inditex has a goal to become a pure player in 2020
In 2014, Pronovias also designed a strategic plan due in 2020. The bridal fashion company hired the consultant Nexe to design a strategy based in professionalization, international development, bet for owned stores and acquisitions, with the goal of doubling its size in 2020.
Four years later, Pronovias has switched hands, has boosted its presence overseas, reinforced its United States market and landed in China, and has acquired the Italian Nicole in 2018 and the Dutch LadyBird in 2019. With all, Pronovias revenue went from 160 million euros in 2014, to 166 in 2017, still some road to achieve the 320 million euros in 2020.
Inditex has created a 2020 goal twice. The first one was in 2016, when Pablo Isla, president of the group, explained that he would base its strategy in new geographies, ecommerce development and extend the chain offer.
Pronovias has accomplished its acquisition strategy with the purchase of Nicole and LadyBird
In September 2018, the giant set another goal for 2020: to arrive online to every country in the world. With this new strategy, that also covers the previous goal, Inditex will become a pure player in one year. Under this premise, the company has launched zara.com, the global web of its star chain, that added 106 new online markets.
Desigual, on the other hand, also started its strategy at the beginning of 2016, a plan to develop a restructuration to give results in five years. Product checkup, processes and commercial presence where the bases of the group’s strategy.
However, four years later and after Thomas Meyer rebought 100% of the groups’ capital, Desigual has seen a downfall in its revenue, up to 761 million euros in 2017, last available data, compared to the 933 million euros in 2015.
Despite not achieving its revenue goal, Desigual has reached the goal of renovating its image before 2020
What the group did achieve is the renovation of its image. Recently, the company has changed its graphic identity with the goal of reaching new targets and engaging a younger consumer.
International bet for Spanish market up until 2020
International operators of the sector also started goals to achieve in 2020. Amongst them, many went from betting for the Spanish market and extending its presence with the opening of new stores.
This is the case of the Italian Twin-Set, that in 2017 defined the goal of turning Spain into its second biggest market. For that, the company started a strategy that was to open six new stores in the county in 2020. The company overcomed the goal, today, Twin-Set counts with 17 stores in the country.
In 2017, Swarovski also started a plan to expand its market and face Tous and Pandora in the country. The group set the goal of overcoming 110 stores in 2020. Today, the Austrian company has a network of more than 90 corners in the country.
Twin-Set had the goal of turning Spain into its second biggest market in 2020
The French company Etam, was other of the groups to bet for Spain in its long term goals. In 2017, the company explained that it wanted to reach the 100 stores for 2020, a plan that is still running and that already counts with 67 establishments in the country and it's planning new openings.
The also French, Celio, said at the beginning of the year, that by 2020 it will count with 100 establishments in Spain. Today, the company is almost in the middle of its strategy, with a network of more than forty stores.
Footwear also planned its extension in Spain. In 2016, New Balance, boosted Rockport in the country with the goal that the chain reached fifteen establishments in the next four years. At the middle of 2016, the company counted with five stores in the country.
Other of the plans that didn’t work in the Spanish market was the expansion of Teddy Smith. The company set the goal of opening fifteen new establishments, however, the company didn’t achieve its goal and it’s not even present in Spain anymore.