MILAN — Coltorti no extra — the storied Italian multibrand retailer is altering gears after 90 years in enterprise, adopting the moniker of Residenza 725 from April 10, when the rebranding can be formally revealed at its 4 bodily doorways in Italy and on its e-commerce website.
The transfer indicators “greater than a mere restyling, however moderately a shift within the firm’s mindset and enterprise mannequin,” mentioned Riccardo Bilancioni, chief govt officer of Coltorti’s mum or dad firm Ikonic Srl.
Underneath the brand new identify, the corporate intends to embrace a extra curatorial method, shifting its position from merely a displayer and vendor of merchandise to an enabler of cultural conversations that have interaction its neighborhood and additional expands it.
Stemming from the notion that tradition and vogue in the present day are much more about participation than possession, Residenza 725 goals to change into an open cultural hub for the cross-pollination of various disciplines — from structure and design to meals and artwork — by staging panels and particular occasions with resident artists as hosts or producing editorial content material spotlighting completely different abilities to supply a number of inventive factors of view.
Bilancioni mentioned the rebranding was two years within the making, with plans developed even earlier than South Korean Group NHN Commerce acquired a majority stake within the household enterprise final 12 months. As reported, NHN Commerce, a world distributor and licensee of manufacturers within the vogue and sweetness sector in South Korea, by no means disclosed the dimensions of the stake however on the time of the deal mentioned it subscribed to a ten million euro capital enhance in Ikonic. Maurizio Coltorti, who represents the third era of the founding household and who has led the worldwide growth of the enterprise, retained “a major minority stake.”
“I don’t have the necessity to have my surname written someplace,” Coltorti mentioned on the time, teasing how the purpose of the brand new model picture was to boost the worldwide standing of the retailer, which was established in 1934 in Jesi, in Italy’s Marche area.
“The premise is that we don’t have any aversion for the household identify,” Bilancioni defined. “However the position of a multibrand retailer is to be in the marketplace within the freshest and most up to date means as attainable. So any private reference or nod to a person can be a distortion of our means of working. Household names are extra applicable for the excessive finish of the availability chain and for manufacturers making merchandise moderately than for these containers showcasing them and enhancing them with a combination and match method.”
The CEO highlighted how the time was ripe for switching to a reputation that would telegraph extra values and that Residenza 725 was adopted to evoke a “cozy and reassuring house for our neighborhood, a heat place as a house the place to [dialogue] and develop collectively.”
A Residenza 725 retailer.
Courtesy of Residenza 725
“At the moment the neighborhood is the true asset….I’m considering fine-tuning the interplay with it and develop it,” the CEO mentioned. He identified that the mission is to counterpoint the dialog round every little thing associated to magnificence, transferring past vogue tendencies as dialog drivers in favor of a extra extemporaneous method.
“I feel there’s a have to interpret the second we’re experiencing [in retail] in an authentic means, not solely with a muscular motion, so amplifying with cash what we’ve executed up to now or pondering ‘more cash, extra retailer openings’,” mentioned Bilancioni, hinting on the iffy outlook for a lot of retailers and e-commerce giants, like Farfetch and Matches. “We consider the disaster the trade resides is a disaster of concepts, before everything. For us having good concepts may signify the appropriate reply, even when it questions all we’ve executed as much as this second.”
“To have a stupendous structure and site is just not sufficient. At the moment is all about how related you might be to your neighborhood of reference…and to be related, you must dominate the contents of dialog and the interplay,” the CEO continued. “Luxurious in the present day is much less concerning the product and all concerning the message. The product is all over the place and that’s the explanation why e-commerce is struggling now: There’s an overstock and [platforms are] turning into the house of reductions, which is one thing manufacturers can’t respect, as they curate every little thing up the final mile.”
A marketing campaign by Residenza 725.
Courtesy of Residenza 725
Along with getting used all through the retailer’s on-line presence and current shops within the Italian cities of Ancona, Pescara, San Benedetto del Tronto and Macerata, the rebranding will embrace itinerant residences and collection of cultural occasions within the likes of Berlin, Copenhagen, Venice and Palermo, Italy.
Earlier than increasing its attain, the retailer will kick off the cultural calendar on April 10 with a partnership with Miart, the Worldwide Trendy and Up to date Artwork Truthful in Milan, that may see the introduction of an award known as Residenza 725 for the very best presentation inside its Portal part.
Three days later, the worldwide version of the “Forgotten Structure” e book produced in collaboration with Residenza 725 can be launched. The tome retraces architect Bianca Felicori’s 5 years of analysis into forgotten masterpieces of recent structure.
Different Residenza 725 content material and collaborations to observe will vary from non-public dinners with lesser-known cooks to philanthropic initiatives, from creative window installations to on-line editorials, amongst others.
Riccardo Bilancioni
Courtesy of Coltorti
“Our predominant focus is to maintain our stage of originality and the range of our contribution as a multibrand retailer excessive,” mentioned Bilancioni, declaring that this perspective would give Residenza 725 a bonus in partnering with manufacturers. “I don’t wish to compete [with others] solely when it comes to scale. Additionally as a result of manufacturers proved to have left huge gamers quickly in favor of different methods. If we might be fascinating for our viewers, we can be fascinating to manufacturers, as nicely,” he mentioned, stressing that he goals at an natural development.
By the way, on the time of the NHN Commerce deal, the corporate outlined the bold goal to succeed in 200 million euros in gross sales by 2027. Though plans haven’t been tweaked, Bilancioni mentioned his focus now could be “not merely countable however qualitative. I do know I’ll attain that 200-million-euro milestone if I’ll attain the neighborhood in the appropriate means.”
The remainder of the technique hasn’t modified both. Along with enhancing the digitalization and the in-house manufacturing of content material — which can be powered by NHN Commerce’s experience in tech — the retailer will more and more work on upping its tone of voice and communication, in addition to increasing its brick-and-mortar footprint overseas by prioritizing high-end resort locations. To this finish, Bilancioni confirmed the corporate will plant its first worldwide flag in Andermatt, Switzerland, this 12 months, when it would additionally unveil different two models. These are being scouted in locations the CEO declined to reveal.