For booming Moncler, it's all about the jacket, says Ruffini
One item took centre stage at the opening of Moncler's flagship store in Tokyo. Divia Harilela discovers it's all about the jacket
Extravagant store openings are becoming few and far between in this part of the world, but that wasn't the case in Tokyo last week when luxury brand Moncler opened its second global flagship store in the exclusive Ginza district. Outside the boutique Japanese and Chinese tourists were taking selfies alongside a group of Moncler monogrammed VW Beetle cars while guests were treated to an arts festival.
This included a meet-and-greet with LA-based artists FriendsWithYou, a celebrity photoshoot by controversial photographer Terry Richardson and a DJ set by designer and Kanye West co-collaborator Virgil Abloh.
Business at Moncler is booming, unlike many other luxury brands affected by the China slowdown, volatile stock market and a weakening euro. In June, the company reported consolidated revenue of €295.8 million (HK$2.53 billion), a healthy 35 per cent increase over the previous financial year. CEO and creative director Remo Ruffini says the brand's enduring success is due to one simple strategy.
"I am very focused on our product. It's all about the jacket. My strategy is to have a jacket for every customer and every generation, men and women. We are not in the business of making fashion," he says.
Plenty has been written about Moncler's transformation from a functional skiwear Label into a highly prized global luxury brand, and Ruffini has played the starring role.
Born in Italy, the fashion marketing graduate began his career working for his father's company that designed and marketed a range of clothing labels. By the mid-1980s he launched his own fashion business called the New England Company, which featured preppy classics inspired by his time studying in the US.