Acne Studios aims for 500 million euros in turnover

Acne Studios confirms its goal of reaching 500 million euros in turnover in the medium term by operating on multiple fronts. On the one hand, one key move is the launch of its first major brand extension, a new fragrance created in collaboration with Frédéric Malle, the outgoing Founder of Editions de Parfums Frédéric Malle. This new product will be available in stores in the US and Europe starting in mid-April. On the other hand, the Swedish fashion house is also strengthening its retail presence with strategic openings. A flagship store in Tokyo is scheduled for spring 2025, adding to its current 80 stores worldwide. Meanwhile, Acne Studios, which has revenues between 300 and 350 million euros, is set to open its new Paris headquarters on Rue des Petites Écuries, designed to mirror its Stockholm office. ceo Mattias Magnusson shared these updates with MFF.

What does entering the fragrance market mean for the Brand?

It is a significant step. Entering the fragrance market can be transformative, depending on how it is done. We have taken this step with a product we are incredibly proud of and have partnered with someone who represents the best in the industry. This is a pivotal moment for the Brand as we are in a crucial stage of development. We are stepping out of our comfort zone and into the spotlight to show the public our work.

How did the project come together?

It is funny because we had secretly admired Frédéric Malle’s work from afar for a long time. Jonny (Johansson, the founder and creative sirector of Acne Studios) and I were discussing how to enter the fragrance market in a way that felt authentic to our Brand. Around the same time, Frédéric reached out to us, wanting to meet because he liked our approach to work. The timing was perfect, and the partnership just clicked. It was a pleasure working with him—he is truly inspiring, not just in his field, but in general.

How long did it take to develop the fragrance? The timelines in this industry are different from those in fashion...

We brought this up during our first meeting with Frédéric, knowing we might get frustrated with the slower pace compared to fashion. Our initial conversation was in June two years ago, and the work began shortly after.

How will the distribution be managed?

Mainly through our stores, Frédéric Malle’s boutiques, and a few select wholesale outlets. Sales started on April 17 in Europe and North America, with Asia to follow in mid-May.

Is this the Brand’s first major extension?

It depends on your perspective. We began as a creative collective, with the original idea of collaborating with multidisciplinary designers. We publish magazines and books, and we produce furniture and bicycles. But nothing has ever been done on this scale.

What are Acne Studios’ upcoming projects?

We are launching a new brand hub in Paris this June, mirroring our Stockholm headquarters. We have been searching for the right location for seven years, and we finally found it in the 10th arrondissement on Rue des Petites Écuries. The new space will feature our showroom and offices, providing an opportunity for people to explore the heart of the Brand. It will be our second home. At the product level, we are experiencing significant growth in bags, which are increasingly popular among consumers. We are focusing heavily on this product category. Ready-to-wear is still our core business, but bags are rapidly gaining ground.

Will you continue to present your collections in Paris?

Paris has always been supportive. We have been showcasing our collections there for over ten years and have excellent relationships with the Fédération de la Haute Couture et de la Mode, so we are likely to stay in Paris.

Do you have other plans for Italy?

Yes, we definitely want to increase our commercial presence there. Right now, we only have one store in Milan. Our next natural step is Rome.

Are you planning more store openings worldwide?

We are working on opening our largest store in Tokyo, which we are very excited about. The goal is to open next spring. We are also looking to enter Thailand soon, a new market for us, with a direct presence. We prefer a direct connection with our customers.

Which markets are performing best?

Japan is delivering excellent results. It is not our largest market—those are China and the US—but it is growing the fastest.

You have set a goal of reaching 500 million euros in revenue. When do you expect to hit that target?

We still aim for that target. Currently, our revenue is between 300 and 350 million euros. We have not set an exact date, given the complexity of today’s market. It will likely take another three to four years.

Will you remain independent?

We like being independent. It gives us the freedom to do things the way we see fit. (All rights reserved)