(NEW YORK) Big plans on the docket for Givenchy: The LVMH-owned label, which currently has 20 company-owned stores and 53 franchises, has announced intentions to open an additional 26 shops by next year. The major expansion, as helmed by Sebastian Suhl, the label’s CEO, will allow the brand to continue on their route towards high revenue, according to WWD. New York, Las Vegas, and Miami can expect to be among the first-ever Givenchy stores stateside. Rome, Milan, London, China, and Japan are also part of the worldwide expansion plan. In addition, Stuhl has also announced his intentions to create a new position for an American-based president within the company.
Current Givenchy sales show an even 50-50 split between ready-to-wear and accessories, but Stuhl has speculated that accessories sales could jump up to 60 percent. In overall sales, women’s wear takes up 65 percent of their market with the remainder attributed to menswear, which has garnered a high volume of customers since Riccardo Tisci introduced it in 2008. On the financial front, Givenchy has fared well in the past year, ringing in alongside the likes of Fendi and Céline.
Suhl joined Givenchy a year and a half ago, after departing his position as COO for the Prada Group. He spent seven years at Prada before heading to Givenchy. He applauds creative director Tisci’s dexterity with promoting the brand, through large scale fashion shows (like his most recent one which featured a car wreck) and selective celebrity dressing. Suhl also recognizes the strong roots the house has in couture history, a facet of the company that was put on hold last year after the brand decided not to show at Paris Couture Week. How does Givenchy pay tribute to its roots? A line of very exclusive ostrich and python HdG handbags, named after the label’s late founder, Hubert de Givenchy that are launched at the time of each new store opening. At $5,665, they don’t come cheap, but their exclusivity ensures they’ll sell out in the blink of an eye.
