Leather goods, an obligatory step to develop the brand (and revenues). Confirming the strategic nature of the bag are the moves by Aquazzura and Liu Jo. The first brand is a specialist in women’s footwear, and is making its debut in leather goods. Liu Jo, on the other hand, which already offers accessories, is expanding its offer for the male universe. Leather goods has shown great resilience during the pandemic. And it is the category with the greatest growth prospects.
Aquazzura’s evaluations
Speaking of the initiatives of Aquazzura and Liu Jo, let’s start with the former. “Leather goods is a very important category,” founder Edgardo Osorio acknowledges with WWD, “but it is very rare for footwear brands to see bags become an important part of their business”. To celebrate its tenth year in business, the brand presented the Tequila clutch, which anticipates the collection to be presented next July. The bags, like the shoes, will be made in Italy. For Osorio, the decision to invest in leather goods responds to demand from partners and customers. Moreover, the recent experience in leather accessories has been very positive: the capsule of 20 limited edition bags made with French artist Beatrice Serre for the Venice Biennale sold out the same evening of its presentation.
Partnership perspective
Aquazzura will close 2022 between 66 and 70 million euros in revenues. And as for the rumours of a possible sale, Osorio replies: “Independence is rare and we like it, but we know that in order to reach a turnover of 200 or 300 million euros you need a strategic partnership and liquidity. I don’t think this will happen in 2022 or 2023, but in the short to medium term, yes”.
And Liu Jo
Leather goods are also important for men’s fashion and in a lower luxury segment. This is demonstrated by Liu Jo, which has launched its first collection entirely dedicated to bags and accessories, the result of an exclusive licence with the Italian company Co.Ca.Ma, the brand’s long-standing partner in the men’s channel. Giuseppe Nardelli, owner of Co.Ca.Ma, told Fashion Network: “It is a great opportunity that strategically allows us to expand the wholesale channel” both in Italy and abroad.
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