How is Schiaparelli's ready-to-wear expansion going?

If today we had to imagine a luxury maison at the highest level, Schiaparelli would undoubtedly be among the top names. A stark contrast to twenty years ago, when its name would have remained in the shadows, almost forgotten. In 2007, when Diego Della Valle acquired Schiaparelli, the brand was a dormant myth, confined to an office in Place Vendôme, Paris, filled with sketches and archival documents. Elsa Schiaparelli, an avant-garde and visionary designer of the 1920s and 1930s, created revolutionary pieces such as the famous shocking pink, exposed zippers, thematic collections, and the perfume “Shocking,” while dressing clients of the caliber of Marlene Dietrich. However, the Maison closed its doors in 1954, and before Della Valle’s acquisition, its legacy had remained in limbo for over fifty years. Eventually, the Italian entrepreneur acquired Elsa Schiaparelli through Interbasic Holding (Ih), a company owned by the Della Valle family, without integrating it into Tod’s group. Over the years, the brand has undergone a challenging yet well-calibrated relaunch, bringing Schiaparelli back among the most exclusive names in Haute Couture. However, the revenue of a Maison does not experience major growth solely through the highest iteration of fashion: ready-to-wear is the economic engine of brands. For this reason, in recent years, Della Valle announced that Schiaparelli would be at the center of an expansion, reviving the Maison's RTW line.

Schiaparelli’s relaunch was carefully orchestrated: a societal reentry through the designs of Lacroix, a philological and conservationist revival with Zanini, culminating in global consecration with Roseberry, who transformed Schiaparelli into an ultra-luxury maison tied to elite circles and international celebrities. Reclaiming 21 Place Vendôme, with a boutique on the third floor, a haute couture salon, offices, a design studio, and an atelier. A highly successful operation in terms of luxury market positioning and the social perception of the brand. Economically, however, success manifests more gradually and less extraordinarily. Ih’s 2022 financial report showed a loss of €9.8 million, an improvement from nearly €20 million the previous year. However, this loss was carried forward, raising the uncovered deficit to over €153 million. The net equity increased from €8.4 million to €21.3 million, but this rise was mainly due to the “other reserves” category, which grew from €147.1 million to €170.2 million, thanks to a €23.1 million contribution from parent company Diego Della Valle & C. “The operating loss for the year,” explains the financial report, “is primarily attributable to the substantial promotional costs incurred by the company, as well as the negative results of its subsidiary Elsa Schiaparelli, which, despite reporting losses, is showing particularly high growth rates.” In 2023, Ih recorded revenues of €2.8 million, an increase of one million compared to the previous year. However, the French subsidiary closed the year with a loss of €8 million. It is essential to consider the costs and time required to establish itself among the major names in the elite market. “The brand has aimed high, not wide,” said Diego Della Valle to Business of Fashion.

Since taking the helm at Schiaparelli, Daniel Roseberry has successfully developed not only the Couture line, acclaimed by critics and audiences alike but also the ready-to-wear collection, initially created by Bertrand Guyon in 2016. It made its debut under Roseberry’s direction during Paris Fashion Week in 2023 for the SS 2024 collection. Della Valle’s 2023 strategy and goal was to expand retail: “The objective is to increase the number of boutiques to 30 or 40 in the medium term [...] We want to expand as soon as possible, but with a cautious strategy,” he told BoF. Schiaparelli’s entry into the luxury market, where the highest segments drive growth, does not target an entry-level audience. Della Valle’s intent is to position the brand between prêt-à-porter and haute couture, aiming at an ultra-luxury clientele. The forecast for Schiaparelli’s boutique expansion beyond Paris has been ambitious. In 2024 and 2025, the extensive expansion plan materialized, leading to the opening of new stores. In addition to the existing boutique in Place Vendôme, new locations have been inaugurated inside Harrods in London, at the Mandarin Oriental in Dubai, and in the United States with three boutiques: in New York at Bergdorf Goodman, in Los Angeles, and in Dallas. Schiaparelli has also entered the Chinese market with a boutique in Shanghai, located inside the Hotel Plaza. These retail locations cover different markets, but what unites them is the exclusivity of their locations, ranging from luxury department stores to the highest-end hospitality spaces.

In Della Valle’s plan for Schiaparelli, following the retail expansion aimed at allowing customers to experience the prêt-à-porter universe in person, the next step is the consolidation of the accessories line, crucial for increasing sales and attracting buyers with bags, shoes, and items that can become trendsetters, no longer just catering to a niche clientele. Over the past year, the offerings have expanded, particularly in handbags, featuring historic models like the Anatomy Jewelry and the Torso Bag, alongside newer designs such as the Soufflé Bag. Additionally, Schiaparelli aims to enter the fragrance industry, where the Maison has left a lasting legacy. “Della Valle sees enormous potential in expanding into the perfume and beauty sector, an area where the Schiaparelli name has strong historical resonance and an archive of collectible bottles designed by Salvador Dalí,” he stated, acknowledging the opportunity to attract a broader audience while maintaining the brand’s exclusivity. Della Valle’s objective is clear: to expand the brand within an elevated and exclusive sphere, “always aiming for a luxury-driven revenue,” while still seeking the right balance between growth and elitism.