Kiton studies the Stock Exchange

Kiton studies how to enter the stock market, looking to the future of its third generation. A step that fully confirms the moment of strong growth for the Neapolitan brand and a development that crosses several fronts. In fact, there are numerous projects in progress. They start with the expansion of the production site in Arzano, moving on to the focus on womenswear, which may come to weigh half of the business within five years, and on footwear and accessories, to expansion plans. After the opening of the second store in New York in Madison Avenue and the revamp of the London boutique on Bond Street, plans will touch China and again the Us and Europe. This is what Antonio De Matteis, ceo of the company chaired by Maria Giovanna Paone, explained in this interview with MFF.

How was business this year and what are your expectations for the next one?

After a 2021 filed with a 32% increase over 2020 that reached pre-pandemic levels, in the current year we registered a +27% in revenues in the 10 months, with full-year closing projection up 25% near 160 million. For 2023, we remain positive as we already have orders in house in line with the last few fiscal years.

Are you thinking about listing on the Stock Exchange?

Listing Kiton is a topic we are thinking about, we think it is a good solution to create secure rules for the future of the company. With the listing we will ensure a more structured company for the third generation, which is already included and has more age levels. It is a desire, but we need to grow more first.

Do you now also want to expand production in Italy?

Today we can count on five production sites —Parma, Fidenza, Naples, Caserta and Biella— where we make all the products we market. In total, production employs 850 people. We are currently working on the expansion in Arzano (Naples). By the end of the year, we will acquire a site, bordering our headquarters, of 6,000 square meters. In this way we will be able to increase from the current 16,000 to 22,000 square meters in total. We would like to move all the logistical part there and also concentrate it on new productions, such as footwear, bags and accessories that we will see in Autumn-Winter 2023/24. Also in front of the company, we aim to acquire land that has become buildable, for future investment

How much do you produce?

About 200,000 pieces a year. We make 70 handmade jackets a day.

For what concerns products, what are you working on?

In addition to homeware, which we are offering from Spring-Summer 2023, and which is a world with potential for growth, the focus will be on developing footwear and accessories offerings. We have formed a style team and two close associates of two well-known designers. In 3-4 years, they can be worth 15-20% of turnover.

What are your plans for womenswear?

Womenswear has been growing for the past 5-6 years and is enjoying success, just think of our store in Rome where 70% of in-store visits is women or the fact that sales tripled in the US in just two years. Overall, womenswear has now come to weigh 20% of sales and in the next five years we expect to reach 50%.

You were also the first Italian company to receive gender equality certification from the Sgs Group...

Yes, we are proud of this certification, which is so important in a context that is increasingly attentive to issues of diversity, inclusion, and social sustainability. Today women in the Kiton company represent 55% of the total.

What goals do you have for abroad?

Today we are active through a network of 60 retail stores worldwide, including three in Italy in Milan, Rome and Capri and about 300 doors worldwide. We have just opened our first Korean flagship store in Seoul. The grand opening will be in February. Seven direct openings are planned for 2023: two in China in Shenzhen and Wuhan, where there is already a dozen with the latest opening in Shanghai, and two in the US with destinations that remain top secret at the moment. In Europe we will land in Paris and Frankfurt, while in London, after the recent expansion of the Bond Street boutique, we are planning to open another one on Sloane Street next spring. Finally, we are also working on Japan for expansion with a partner. (All rights reserved)