The brand announced its new, expanded headquarters in Milan on Friday, and to mark the occasion it revealed plans to raise prices including the launch of an ambitious Plein hotel project in the coming weeks. city; the relaunch of Plein Sports row; new licensing deals and global store openings; significant distribution plans in China, and overall enhancement of the women’s clothing business to rebalance the brand’s offering, among other initiatives.
That’s a lot to deal with in a strategy aimed at further scaling the business, which is expected to end the year with sales of 200 million euros.
Many of the revealed plans still appear to be in the works, starting with the gallery undergoing some final finishing touches, including work on a spacious rooftop terrace and a separate 1,076-foot structure square will display the Plein Sport product line.
“This space will definitely be ready by December 15th,” Plein, founder and chief executive officer of the Swiss-based luxury group, assures with Billionaire label. Plein explains that on that date, the activewear collection will be introduced to buyers before being officially unveiled with a press launch in January.
Introduced in 2016, Plein Sport has been suspended since then, as reported, designers claim their success has eaten up and interfered with the brand’s mainstream perception. As a result, the company closed half of its 30 independent Plein Sport stores while the others were converted into Philipp Plein locations.
“But we have received a huge request from the market, along with offers for licensing agreements to take over the Sport brand. After internal discussion, we decided to do it ourselves, so we are bringing the line back,” said the designer.
If the new Plein Sport collection is still incomplete, accessories from the fall 2022 mainstream are already on full display at the showroom, as the company kicks off its sales campaign this week, welcoming most Most buyers return for actual appointments.
“Accessories in particular are a very important business for us, they account for 25% to 27% of our total sales and they are constantly growing,” says Plein, noting that footwear is driving sales.
Footwear, bags and baseball caps were introduced alongside the first attempt at licensing deals the brand has signed over the past months with De Rigo for eyewear and WorldTime Watches & Jewelry for watches at the three-story showroom, located on Via Burlamacchi, to the south of Milan.
Designed by JSC Studio founded by architect Jolanda Sbrana, this 16,146 square foot space is dominated by marble, mirrors and glass surfaces while here the walls and floors are spray-painted. graffiti. All of these elements run through different zones, including vibrant men’s and women’s apparel galleries; a denim corner and a small pub restaurant with green walls accented by a large logo. A wooden floor hall and a separate entrance display the Billionaire’s offerings.
Formerly a showroom for the Dirk Bikkembergs brand, the Philipp Plein Group acquired the property in late July, replacing the old outpost on Via dei Giardini in central Milan that closed last year.
Moving to the southern part of the city, the company is mirroring the migration of other fashion groups. As reported, earlier this year LVMH Italia signed a pre-authorization agreement with real estate company Covivio to lease offices for 10 years in the Symbiosis business district, located next to Fondazione Prada and 20 minutes from Plein’s new outpost. walk. .
But the German designer is not yet ready to leave the heart of Milan. He signed an agreement to open a Plein hotel in Via Manin, in the historic Palazzo Melzi d’Eril building, which was formerly the legendary headquarters of Krizia. Plein has signed an agreement with a new entertainment company that has leased the space and will operate the brand’s hotel project under license. The location is expected to include a hotel with about 18 rooms, the Philipp restaurant and club, the bistro restaurant La Jungle de Plein, The Skull bar and a private cinema dedicated to small screenings. and can only be accessed by members.
To mark the start of the renovation, Plein hosted a “Noir Christmas” themed party on Friday at the site, which is expected to officially open to guests next year.
The designer said he will use this space to hold the brand’s show of the same name next February. Given Plein’s knack for staging sinks during Milan Fashion Week, the hotel project will be flexibly designed to accommodate these events and change its look with the seasons, according to the theme. program topic.
There will be an element of continuity, however, thanks to the brand’s new in-house lineup. The group applied for another license with luxury furniture company Eichholtz to develop a home collection under the Philipp Plein banner. As part of the deal, which marks a return to the beginning of Plein’s career in the design world, the first furniture series will be launched during Milan Design Week in April 2022.
Plein, who is also aiming to open two stores dedicated to family collections next year, one in Miami and the other in Russia.
Overall, the company is preparing to accelerate the expansion of its distribution network with more than 25 stores opening as planned for 2022. Among the most prominent activities, the brand is in exclusive negotiations to take over. old Michael Kors flagship in London’s Old Bond Street to replace the decommissioned New Bond Street unit.
After moving its China office from Hong Kong to Shanghai, the group also intends to accelerate in that market, where it anticipates significant growth potential. Philipp Plein currently has seven units between high-speed trains and stores in Mainland China, but is expected to have 16 doors in direct operation by 2022.
This will boost local sales, which currently account for 5.4% of the brand’s total sales, placing China behind the US – which accounts for 20% of total sales – Russia, Italy, Germany and Spain. But Plein said he expects China to come in third by the end of 2022.
Overall, the brand is present in 730 stores worldwide, including 40 directly operated stores, 30 stores, 40 franchisees and a presence in 620 multi-brand retailers.
Thanks to its partnership with Italian manufacturer De Rigo, its eyewear offering is expected to hit 1,000 doors next year, with the US expected to account for 24% of eyewear sales.
As for the watches developed and handcrafted by WorldTime Watches & Jewelry in partnership with the professional Timex group, these watches will be available in 1,500 stores worldwide by 2022. In addition, Plein said he will launch a jewelry collection in the near future.
Other licenses include a five-year contract with the Altana Group for children’s clothing collections this early year. In 2019, this brand also entered the beauty arena with two scents developed under Philipp Plein Parfums, a separate company founded in Geneva under the umbrella of holding Brands Beyond Beauty, sold 1,000 products in a week on the brand’s online store.
The e-commerce platform continues to be a key driver for the company, being one of the first fashion players to accept cryptocurrency as a payment method. Online sales of the Philipp Plein brand are up 16% year-on-year, with the average shopping cart at around €800. This month alone, the brand registered 11 million euros in online sales, with orders coming mainly from the US, Russia, Germany and Italy and in terms of assortment, men’s sneakers and jackets Men are ranked in the list of most searched items.
“Today menswear makes up 65% of our total sales, whereas when we started it was 10%. We’re currently looking to relaunch womenswear to rebalance its offering and improve its performance, with the goal of having this segment account for 40% of our revenue next year,” Plein said.
To achieve this goal, the brand is working on the communication front, exploiting the key personalities as the face of the brand. Previewed the Philipp Plein spring 2022 collection video earlier this year, Megan Fox will appear in the eyewear campaign shot by Steven Klein will start rolling out on December 1st.
Also next week, the company will shoot a promotional campaign for the pre-fall 2022 collection, which already attracts supermodel Eva Herzigová.
The brick-and-mortar stores will reflect this commitment to elevating the women’s clothing range with a new interior concept that will launch next month. Philipp Plein has moved his flagship in Barcelona, Spain, now standing next to the city’s Mandarin Oriental hotel. The unit will open next month with a new design in sync with the Milan showroom blueprint and with a different color palette designed around products for men and women.
The new concept will also be replicated at the Milan store, which will be temporarily closed for renovations next summer and relaunch in time for fashion week in September 2022.
https://wwd.com/fashion-news/fashion-features/philipp-plein-new-showroom-open-hotel-milan-1235003881/ A Philipp Plein hotel, club and restaurant is coming to Milan – WWD