Marking 30 years in business, Italian hosiery and underwear group Calzedonia plans to open its first monobrand stores in China this year.
Its brands and group CEO Sandro Veronesi says a Shanghai store will open in April showcasing its historic labels Calzedonia and Intimissimi. It is its first store on the mainland, with others to follow.
Calzedonia already has a retail presence in Hong Kong and Japan, and Veronesi says expansion in China will be a key step forward for growth in Asia.
Other brands owned by the group include Tezenis, Falconeri (knitwear), Signorvino (wine shops) and Atelier Eme (bridal wear),
The Calzedonia group has more than 4000 stores (about 2400 outside Italy) and has more than 32,000 employees. In 2015 its consolidated revenue was more than €2 billion (US$2.1 billion), a 9.3 per cent rise over the previous year. Half of its income was generated in Italy.