The Brand Has Opened New Outlets in Shanghai and Ningbo, China, and Is Set for Its Retail Debut in Macau Next Month
Stone Island is further expanding its retail presence catering directly to consumers, specifically focusing on the Chinese market. The company opened new outlets in Shanghai and Ningbo recently and is preparing for its inaugural retail debut in Macau in the coming month.
Robert Triefeus, CEO of Stone Island, commented on the expansion efforts, “Following the internalization of our distribution and the establishment of our new regional office in Shanghai last November, these new openings underline the progress we are now making in structuring our DTC network in China, a market which offers significant potential for the Stone Island brand in the years to come”.
The newly launched stores augment the brand’s existing network in China and the Asia Pacific region, including units in Beijing, Shenzhen, Chengdu, Nanjing, and Hong Kong.
Conforming with the Stone Island blueprint crafted by Rem Koolhaas’ OMA/AMO studio, the newly established flagships blend blasted sand and rammed earth with vibrant colors while encompassing an industrial aesthetic. The Shanghai store, housed within the TaiKoo Li QianTan retail development, extends across 1,872 square feet. The shop at Ningbo’s Hankyu mall, the largest of the lot, covers 2,000 square feet. Set to launch on September 7, the Macau Galaxy flagship will spread over 1,506 square feet.
In addition to rolling out its physical presence in China, Stone Island has also expanded its virtual presence. It debuted on Tencent’s WeChat Mini Program to enhance its online footprint in the country. This digital initiative intends to mirror the design of the brand’s international e-commerce site.
Stone Island, celebrating its 42nd anniversary in 2024, was operating 85 direct stores as of June 30. They also operate 13 monobrand wholesale stores. Earlier this month, the brand also opened its first store inside London’s Harrods department store, further consolidating its direct-to-consumer operations.
Despite the expansion, Stone Island’s revenue for the first half of 2024 totaled 188.9 million euros, marking a decrease by 6%. Revenues for the second quarter were at 75.9 million euros, down by 4%, attributed to the rollout of the DTC strategy. However, the downfall in the wholesale channel was almost entirely offset by a strong double-digit growth in the DTC channel.
In 2020, Moncler acquired 70% of Sportswear Company SpA, the owner of the Stone Island brand, later taking complete control over the company the following year. Triefus was appointed the CEO of Stone Island last year, following a 15-year tenure at Gucci where his final roles included CEO of the brand’s Vault and Metaverse Ventures and Senior Executive Vice President of Corporate and Brand Strategy.