Logistics, retail and 50 additional artisans. These are the focus area of Stefano Ricci’s investments. In 2023 the Florence-based brand will have a revenue of over 200 million euro, with a 95% export quota. “We are looking attentively to next year, but we continue to invest”, said the brand. “During the pandemic, we decided to increase manufacturing and quality: this choice rewarded us”, explained Niccolò Ricci, CEO of the family business.
Manufacturing and quality
The Florence-based brand revealed it plans on closing a record-year: 200 million euro. This means +40% on 2022 and 2019. A relevant and fast growth, if we think that in 2020 revenue had fallen 40% compared to the previous year. “At this time, we have decided to increase manufacturing and quality, and this choice rewarded us. 200 million in sales are something that a few years ago we were looking from far away”, says Ricci (source Il Sole 24 Ore).
Investments
The increase in manufacturing will take place thanks to a higher number of employees in the production site of Caldine, near Mugello. Today it welcomes 200 workers making leather goods, knitwear, silk goods, belts and handbags. A sartorial lab will be created by Spring and will employ 50 additional people (source La Repubblica). Investments will be focused on logistics (with a new 10,000 square meters warehouse) and retail. Between 5 and 6 new openings are scheduled for 2024 in Vietnam and the USA.
Forecasts
Important investments will be made, even if the global context isn’t optimal. Stefano Ricci looks to 2024 with attention and caution, but not negatively. “We look to next year with caution, but we continue to invest”.
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