Antony Morato reports €95m revenue, plans international expansion

By

Triana Alonso

Translated by
Barbara Santamaria

Published
Oct 12, 2018

“We have Italian roots, cosmopolitan soul and are a global brand,” Raffaele Caldarelli, chairman and creative director of Italian men’s fashion brand Antony Morato, says firmly during a Spanish visit to mark the first anniversary of its store located on Fuencarral in Madrid. The growth of the company’s physical presence, its expansion in Asia and its sustainability commitments are the top priorities of the Italian brand.

“Spain is a very important market for us, where we first started exporting. Although it has taken a while to establish ourselves, understand the local needs and adjust to our customers, we think it has been a good year for the brand in the country and the store in Madrid is giving us good results,” Caldarelli says about the Spanish market, which is led by Luis Gestal, former Calvin Klein and Vente Privée executive. With a presence in over 300 multi-brand retailers and 14 stores, Antony Morato’s chairman reveals: “We are currently analysing the locations, but there are plans to open two new stores next year.”

Worldwide, the company founded in 2007 has more than 70 standalones stores and a presence in 1,600 retailers. Its products are also exported to 55 countries. “We want to continue growing both in wholesale and retail,” Caldarelli says, highlighting the opening of the brand’s second location in Mumbai, India with Iconic Fashion. And the expansion in Asia is a key part of the chairman’s strategy. “South Korea is an important market for us. Additionally, we are working hard to find the right partner to launch in Japan,” he says.

As for Europe, a third standalone store will open in France, in Paris or Bordeaux, in the coming months. It will join existing sites in Paris and Lyon. “It is one of our youngest markets, it hasn’t been long since we launched there. But we are strongly boosting our wholesale presence, where there is ample room to grow.”

Another key priority for the business for the next few years is to boost online sales. “The online channel is a fundamental growth driver for brands and we are striving to expand it,” Caldarelli says, without losing sight of the role of social media. “Since Instagram is the ideal growth channel for fashion brands, we are testing collaborations with the right kind of brand ambassadors who are capable of transmitting our DNA to the final consumer.” Today, e-commerce accounts for 7% of Antony Morato’s sales.

Similarly, the Italian firm has established its goals in terms of sustainability. “Our goal is to become 100% sustainable over the next five years, using recycled raw materials, phasing out all non-recyclable materials in all our supply chain and reducing water consumption,” the company’s founder said. And on the growing trend of brands branching out into new categories, he added: “In an industry where all companies try to cover too much, we want to stay loyal to our customers. We are menswear specialists and that is what we should continue to be.”

Antony Morato, owned by Essedi Spa, currently has more than 400 employees and a presence in 55 countries, as well as offices in Spain, France and the Netherlands. In 2017, turnover at the Italian company reached 95 million euros, up from 91 a year earlier. Gross operating profit was up by 9% during the period.