The Paris-based company, that has the name of the designer that founded it, is planning to land in the Asian region and to boost its presence in its existing markets.
Karl Lagerfeld post Karl Lagerfeld is set to conquest the world. The Paris-based company, that has the name of the late designer that founded it, has more than 200 stores around the world and is planning to enter South East Asia and to boots its presence in countries like the United States and Russia.
“Starting with a brand that has such a strong name behind it immediately turns it global,” stated Pier Poalo Righi, CEO of the company, to Mds. “We want to be present in as many countries as we can, as well as reinforce our current markets.”
Karl Lagerfeld is currently present in 96 countries and is planning new store openings in Italy, where its only presence though the multibrand channel. In Spain, where it operates with local distributor Via Emilia, the group is planning its first high street opening in Madrid for the beginning of next year.
Karl Lagerfeld is present in more than 96 countries worldwide
The company also sees opportunities in the Latin American market, specifically in Mexico, where it operates with a joint venture with G III Apparel, that has also a 19% stake of the company. In Mexico, Karl Lagerfeld is also present in corners in department stores like El Palacio de Hierro.
Mixing online with brick and mortar has been part of the strategy of the company since the beginning. The group operates in international markets with local partners and has also relies on third-parties for its menswear and perfumes lines, which are licensed.
Karl Lagerfeld had a revenue of 700 million euros in its last fiscal year, ended March 31. Online represents around 30% of its total business.
Karl Lagerfeld had a revenue of 700 million euros in its fiscal year 2018
The company, founded in 1984 by German designer Karl Lagerfeld, that passed away in February of this year, faces the challenges of continuing its work. “We have the responsibility of carrying its legacy, but it was never a one-man job, we have always been a well-integrated team, so everything we do is connected to our main strategy,” stated Righi.
The company has two headquarters, one in Paris, for its design team and one in Amsterdam for its production, and it has more than 200 employees. Karl Lagerfeld doesn’t rule out the possibility of selling but not on short term.