Since 2023, luxury has slowed down, as we have learned to our cost: the average growth of groups has settled into single digit growth (within +9%). Stefano Ricci, on the other hand, has not: the Florentine brand, which started out in 1972 with ties and is now a lifestyle brand with 700 employees, closed the best turnover in its history. Turnover stood at EUR 200 million, with year-on-year growth of 43%.
The exception of Stefano Ricci
Of course, the size is not that of the big conglomerates but, in this sense, Stefano Ricci has done better than anyone: while luxury slowed down in 2023, explains Niccolò Ricci to La Nazione, the brand experienced “the year of highest turnover”. How? Certainly, thanks to the boom in Asia: “The greatest growth was in Greater China (+90%)”, acknowledges the founder’s son. But it is also the result of an idea of quality and exceptionality from which the company has never deviated.
Italian heart
First of all, there is the focus on the product: “We produce 100% in Italy, and sell mainly abroad”, says Ricci. “My father was able to transform his passion into every single detail of the men’s wardrobe, without ever compromising the integrity of the brand with end-of-season liquidations or second lines”. And then, that on the company: “The company is firmly in the hands of our family, but we try to manage it as if it were listed”, he concludes. “In the past there has been an approach to a listing project, just as we have received various partnership proposals”.
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