Menswear retailers beware: there’s a brand new arrival on the town. Boggi Milano, which operates greater than 240 shops in 60 international locations, has set its sights on the U.S.
The Milan-based menswear model has opened two shops in New York Metropolis, with a 3rd within the playing cards for subsequent month, however that’s only the start. It is usually planning to increase in different key markets throughout the nation over the following 5 years, based on Claudio Zaccardi, president, chief government officer and artistic director of the family-owned firm. Among the many cities on its goal checklist are Miami, Chicago, Washington, D.C., Boston, Houston, Dallas, Los Angeles and San Francisco.
In a walk-through of the two-level, 5,920-square-foot Madison Avenue flagship on the nook of 54th Road on Monday, Zaccardi mentioned opening in New York is “a dream come true. The U.S. is an important nation on this planet and we imagine that we’re a worldwide model now, however you may’t actually be a worldwide model when you’re not within the U.S. — particularly for menswear.”
Claudio Zaccardi
Shumov Denis
Boggi made its first transfer into the market in February when it opened a single-level 1,800-square-foot retailer at 115 Mercer Road in SoHo. The Madison Avenue flagship opened quietly about one month in the past, with the official grand opening slated for Tuesday.
A 3rd unit will open in June at The Outlets at Columbus Circle. That retailer will even be two ranges and can measure 4,735 sq. toes.
Boggi is absolutely owned by the Zaccardi household, which has a protracted historical past in attire and menswear. It began with Zaccardi’s grandfather, who was a childrenswear tailor and retailer in Monza, Italy, exterior Milan. The shop handed to his mom, who continued to give attention to childrenswear till 1985 when Zaccardi and his brothers took over the enterprise and transformed it to a luxurious multibrand retail retailer referred to as Brian & Barry.
That enterprise was profitable and finally grew into a series of shops in northern Italy. The retailer nonetheless exists and operates three shops in Lombardy, but it surely represents solely 3 % of the corporate’s general gross sales immediately.
In 2003, the Zaccardi household bought Boggi Milano, a Milan-based model recognized for its tailor-made menswear, for round $14.6 million. On the time of the acquisition, Boggi operated 22 shops.
“We began our improvement throughout Italy, then throughout Europe and now we’ve companions in locations just like the Center East, the place we’re not in a position to [operate] immediately,” he mentioned. All advised, 160 shops are operated by the corporate and 80 are franchised. In October, it opened Casa Boggi, its largest retailer so far in a 12-story constructing in Piazza San Babila in Milan that features a showroom and workplaces in addition to a three-story retailer.
In 2024, Boggi achieved gross sales of $360 million, a rise of 15 %, and projections name for the corporate hitting $420 million in gross sales this yr. Zaccardi mentioned present shops are posting gross sales good points of 5 to 7 % and the web enterprise, which represents round 18 % of gross sales, is rising at 30 %.
What has helped the corporate acquire a foothold is its big selection of comparatively inexpensive males’s attire, footwear and equipment. Costs for a go well with common $920, a blazer is $630, outerwear is $520, shirts $160, knitwear $200, polos $130, trousers $200 and sneakers $270.
The gathering is damaged down into 4 separate choices: Formal, Straightforward Formal, Informal and Lively. Within the Madison Avenue retailer, the Formal assortment of tailor-made clothes in addition to a made-to-measure room are positioned on the decrease degree.
The made-to-measure room on the decrease degree.
STUDIOP23
Among the many choices is the Traveler assortment, which options stretch and different consolation attributes in each conventional and trend colours and silhouettes. Merino wool sweaters, linen gown shorts, non-iron shirts, ties, belts and gown and dress-casual sneakers are additionally a part of the assortment.
Zaccardi mentioned the Straightforward Formal assortment of subtle casualwear is now the preferred with blazers among the many key items. “We was once very formal and traditional, however after COVID-19, our most necessary merchandise is a blazer.” That features an assortment of jersey blazers in addition to one other created from a shirt cloth.
Some 30 % of the gathering is core product similar to navy or grey fits and white shirts which can be “by no means out of inventory,” he mentioned.
The Informal assortment options denims, T-shirts, light-weight sweaters and jackets, together with a suede shirt-jacket, in a wide range of colours and materials, whereas the Lively assortment is centered round B Tech, high-performance materials which can be provided in every thing from tech pants to shorts and hoodies.
Seems to be from the Boggi assortment.
Courtesy of Boggi Milano
Along with blazers, Zaccardi mentioned different bestsellers embrace a Madison sweater-jacket for $598 and a light-weight button-down shirt in a jersey cloth that retails for $168.
A lot of the providing is created from pure fibers or sustainable supplies similar to natural cotton, recycled wool or artificial fibers and down alternate options.
The gathering is manufactured around the globe in international locations together with Italy, Portugal, Turkey and China, and Boggi has opened a distribution heart in Pennsylvania in an effort to service the American shops.
Zaccardi mentioned that stylistically, Boggi is just like the much-higher-priced Italian manufacturers similar to Brunello Cucinelli, Zegna and Loro Piana, however costs are round one-third much less. He views opponents as Suitsupply, Ralph Lauren and different menswear consultants, but it surely’s Hugo Boss that’s most related.
“Globally, we’re most like Hugo Boss,” he mentioned. “We frequently go the place they’re. It’s a totally totally different style and magnificence however they carry each way of life like we do.”
He mentioned Boggi has a five-year plan that requires having 20 shops within the U.S. market. “We virtually have a signed deal in Miami and we need to be in all the large East Coast cities like Boston, Washington and Philadelphia,” he mentioned. “Then Chicago, Houston and Dallas and 4 or 5 in California. And we’re going to wish an outlet for each six to seven shops.”
Zaccardi mentioned gross sales on the flagship are already assembly projections and he’s sure Boggi can be profitable within the U.S. market. “Individuals love Italian model,” he mentioned. However he additionally is aware of that it’s going to take a while for the shops to carve out a distinct segment. “We all know it takes 5 years,” he mentioned.
To introduce itself to American shoppers, Boggi will commit 5 to 10 % of its annual gross sales to advertising and marketing, which can include conventional media and on-line automobiles. “However retail is our greatest media,” he mentioned.
Along with its personal shops, Boggi has begun wholesaling within the U.S. The corporate has some wholesale clients in Europe together with El Corte Ingles in Spain in addition to others in Germany and Sweden, but it surely doesn’t signify an enormous a part of the enterprise. Right here, it simply inked a take care of Bloomingdale’s, which can add the model to the 59th Road flagship in addition to 5 – 6 others, he mentioned.
He mentioned the corporate is open to exploring further wholesale alternatives sooner or later.
“We’re not that huge but and we don’t need to develop that quick,” he mentioned. “We don’t need to be the largest firm on this planet.”
