<\/p>\n
\n\tPARIS \u2014 Steps from the Avenue des Champs-\u00c9lys\u00e9es, Italian hatmaker Borsalino has opened the doors to its second stand-alone store in Paris. The jewel box of a shop, at just 160 square feet, is tucked away at 24 rue Marbeuf but is indicative of the 169-year-old brand\u2019s bigger retail ambitions.<\/p>\n
\n\tThe company is expanding its network of directly operated stores, building its presence in China and preparing to explore the U.S. market, plus expanding into new categories while keeping hats top of mind for its offering.<\/p>\n
\n\tIn Paris, the new store adds to Borsalino\u2019s portfolio, which includes an historic Left Bank address and two department store corners.<\/p>\n
\n\tExpansion in China, as well as the U.S., is on the way as the company seeks to boost its direct-to-consumer business.<\/p>\n
\n\tIn Paris, the opening follows a yearlong search for the right location, where the brand worked to translate its heritage into a contemporary retail concept. Designed with architect Nicola Quadri, the space combines modern fixtures with vintage items, including a stunner of a table by architect Ignazio Gardella. The piece was a lucky find, as the legendary Italian industrial designer had worked on the brand\u2019s first showroom in the 1950s.<\/p>\n
\t\t\t\t\tBorsalino\u2019s store in Paris.<\/p>\n
\t\t\t\t\t\t\t\t\tCourtesy of Borsalino<\/p>\n
\n\tInside, a checked pattern was inspired by the uniforms historically worn by hat-making workers, here reinterpreted for the walls and carpet, while traditional hat-making forms and tools bring an understanding of craftsmanship into the store.<\/p>\n
\n\tThe Paris opening is part of Borsalino\u2019s selective approach to growing physical retail rather than an aggressive store-count expansion.<\/p>\n
\n\t\u201cTo open a store is quite expensive, and we want to be profitable, and so we tested different activities,\u201d said Borsalino general manager Mauro Baglietto. \u201cThe monobrand store is also a way to have a direct relationship with customers and explain what the new Borsalino is, and how contemporary we are.\u201d<\/p>\n
\n\tThe brand, backed by private equity firm Haeres Equita since 2018, is already \u201csuper successful\u201d in travel retail, and has opened five stores in Italian airports, including two in Rome, two in Milan and one in Venice.<\/p>\n
\n\tThose key locations have helped boost brand awareness as well, and tourism has become an important driver of the business. Foreign customers account for around 50 percent of sales at Borsalino\u2019s Milan stores, Baglietto said, with U.S. shoppers representing the largest international customer.<\/p>\n
\n\tHe added the company expects the share of tourists at the new Paris boutique to be at least as high.<\/p>\n
\n\tOver the past five years the company has worked to revamp its image by expanding its women\u2019s range and developing less-structured styles. Fedoras and Panama hats are still the core of the business, but baseball caps, beanies and packable designs that can be folded into a suitcase have created new entry points for a younger clientele.<\/p>\n
\n\tThe customer mix is changing, too. Globally, men account for around 60 percent of Borsalino\u2019s customers and women 40 percent. In China, the proportions are reversed, with women making up 60 percent of customers.<\/p>\n
\n\tChina is now one of the company\u2019s main expansion priorities. After testing the market with a six-month pop-up in Shanghai, Borsalino opened a permanent store at luxury shopping center Plaza 66 in September. The reception in the country has been \u201cstrong,\u201d particularly among younger consumers interested in its history and manufacturing.<\/p>\n
\n\tThe brand is currently in negotiations for new locations in Beijing and Shenzhen, targeting openings before the end of the year or in the first quarter of 2027.<\/p>\n
\n\t\u201cFor us, it\u2019s not just about opening a store or entering a new market. It\u2019s about finding the right location, with the right target customer and the right size,\u201d said Baglietto.<\/p>\n
\t\t\t\t\tMauro Baglietto<\/p>\n
\t\t\t\t\t\t\t\t\tCourtesy of Borsalino<\/p>\n
\n\tIt also sits at a sweet spot in the challenged luxury market. An accessory that takes upward of 50 hours to hand-make ticks all the luxury boxes, but the price point is more accessible. Add fashion\u2019s return to dressing up, and it\u2019s a winning formula for the brand.<\/p>\n
\n\t\u201cAccessories are much easier to buy right now than a suit or something more ready-to-wear,\u201d said Baglietto. \u201cAnd in a lot of fashion shows there are hats, so this is a trend for style and attitude. So the customer right now is looking more for quality and value for money \u2014 and [put together, this is] all a very good position.\u201d<\/p>\n
\n\tThe company is also pushing into lifestyle with new categories such as fragrance, with a men\u2019s and women\u2019s scent launched a year ago, and handbags, which are entering their first full season. Five models are on offer in the Paris store.<\/p>\n
\n\tSunglasses and footwear will be a part of the growing offer for the own-brand retail, in an effort to paint a more complete picture.<\/p>\n
\n\tStill, hats are expected to remain about 90 percent of the business, Baglietto said.<\/p>\n
\n\tFor the U.S., it\u2019s part of a longer-term roadmap. Recent pop-ups in Miami and Los Angeles were hits, and the demand is there, said Baglietto. \u201cOf course\u201d New York City is on their radar, as well as the Hamptons and Costa Mesa, Calif., he added. But Borsalino does not expect to start exploring permanent stores in the U.S. until 2028.<\/p>\n
\t\t\t\t\tA selection of Borsalino handbags at the Paris boutique.<\/p>\n
\t\t\t\t\t\t\t\t\tCourtesy of Borsalino<\/p>\n
#Borsalino #Expands #Paris #Eyes #Growth #China #U.S #Markets<\/p>\n","protected":false},"excerpt":{"rendered":"
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