admin Italian accessories brand Coccinelle is diversifying its product range beyond bags and leather goods.
The Korean E-Land owned company said it is exploring new categories like watches and eyewear. The group’s Chief Operating Officer Emanuele Mazziotta unveiled plans during the Spring Summer 2024 collection presentation at Milano Moda Donna where it introduced footwear and expanded into fine jewellery, as reported by Pambianco.
The brand said it is responding to consumer demand and customer feedback, using market research, surveys, and testing where it eyes expansion and sees opportunities. Financially, the company saw 20 percent growth in 2022 and an 18 percent increase in sales for H1 2023, partly due to product diversification.
Coccinelle also said it iss expanding its retail network, including a new boutique in Vilnius and an upcoming store at Rome Fiumicino airport. The company’s current wholesale presence spans 1,300 locations in 44 countries. While committed to physical stores, digital channels contribute 8 percent of total revenues in 2023, which is low in comparison to larger brands where 20 to 30 percent of revenue is on average generated from online sales.
While Italy remains its largest market, Coccinelle said it is targeting strategic expansion across Europe, the Middle East, and Asia. Later this year a collaboration with designer Ji Cheng is set to launch in China.
