Luciano Padovan-a historic shoes brand with an all-Italian heritage, debuted on the fashion market in 1997. Over the years it has been appreciated by celebrities from all over the world, up to the set of Sex & The City. In an interview with Fibre2Fashion, CEO Giorgio Innocenti gives an overview of the prominence of the Italian footwear market, how it was impacted by the global pandemic and the new footwear styles that have evolved in the current scenario.
Where does the Italian footwear market stand in terms of value and prominence in the world today?
Italy is the first footwear manufacturer in the European Union and tenth in the world. It has around 4,300 companies and 75,000 employees (data for 2019), a trade balance that has always been active and a total annual turnover of around €14.3 billion. The sector represents a reality of extreme qualitative and quantitative importance in the Italian economy
Where is the manufacturing/ production done? How is the demand and supply worked out?
Production takes place in a city in central Italy called Porto Sant'Elpidio-a magnificent production reality, modern and equipped with a specialised, highly trained manufacturing team. We have the ability to quickly produce even small quantities and to fully satisfy the needs of our customers.
How big is your R&D team? What are the latest designs and styles they are working on?
We have 6 people who work closely with Silvia Scaramucci and Riccardo Polidoro. The research and development team is very important for our business. They are currently working on the next Spring Summer '22 collection that we will present in Milan in September. I can only say that it will be colourful and extremely feminine.
How was the shoe industry of Italy affected due to the pandemic in terms of supply chain disruptions, cancelled orders, factory closures, layoffs etc?
According to the latest data, in 2020 both turnover, which reached €10.72 billion (-25.2 per cent) and production (down to 130.5 million pairs, -27.1 per cent), fell compared to 2019. The drop in exports was heavy in terms of value (-14.7 per cent) and quantity (-17.4 per cent). This is an important decline, despite double-digit growth for the online channel that fails to stop the collapse of tourist shopping and the loss of revenues, especially for the luxury segments. Italian companies had to update their business model.
Give us the story behind brand Luciano Padovan. When was it founded and by whom?
Luciano Padovan means Italian craftsmanship and luxury shoes. The brand was created in 1997 in Parabiago, a luxury footwear district near Milan and has had an impressive growth. In a few years many single-brand stores have been opened (Moscow, Dubai, Milan, Rome, Paris, Sofia, New York, Riyadh) and the brand was distributed in over 400 multi-brand stores worldwide.
What percentage of your sales is through, brick & mortar, exclusive online store and e-marketplaces?
We have just gone online. We come from a past management that had made some mistakes. We are doing it with method and selection. Our e-commerce channel is important even though we are planning more important development from the SS 22 collection.
What are the marketing strategies you employ?
The marketing strategy is simple: don't lie to the customer! You have to be responsible and follow every aspect of the product firsthand. I am really happy to be able to do it with qualified and prepared people like ours. Teamwork and the sharing of objectives must be at the center of all strategies.
How are you equipped today to deal with a post-pandemic world?
You need to have a light and well-organised structure. For this reason we have outsourced the production relying on a well prepared and top level Italian partner. The product must reflect all the qualitative and stylistic values of the company and the distribution must be a mix between traditional and digital.
What factors have majorly contributed to your success through the years?
The quality, design and tradition of "Made in Italy"-we are known and appreciated for this and we do not want to disappoint our customers.
How many collections do you launch yearly?
We currently launch two collections a year. With the slackening and post Covid reopening, it is our intention to integrate special capsules during the year and also bring the bags into the collection to complete the look we are proposing.
What are the new launches/product offerings to look forward to in the current year?
We believe in the recovery and synergistic growth of the entire accessories sector. It is no coincidence that many international financial players have carried out M&A transactions in recent months. There are prey on the market that have enticed (and are still doing so) investment funds and businessmen. Fashion and luxury are returning to pre-pandemic levels and certainly these market values are exceptional.
Where do you source the raw materials for your footwear from?
The leathers are chosen by our stylist-Riccardo Polidoro, together with the product manager Silvia Scaramucci, and shared with the producer (L'autre Chose). We have a team of absolute value! I am lucky to work with such capable and knowledgeable people.
What are the competitive advantages of Luciano over some of the other footwear brands?
International brand awareness and recognisable style are among the most important factors. Over the years we have dressed international celebrities such as Penelope Cruz, Lucy Liu, Jessica Biel, Kate Hudson, Britney Spears, Jennifer Lawrence and many others. We are fortunate to work with passion and do our best in every business process.
What are the key footwear trends to watch out for in terms of footwear technologies, consumer demand, materials & accessories used?
There are several accessories that a shoe can have. Personally, I strongly believe in the jewel and in the plateau. Colour is another key element. These are the keys.
Do you plan to expand your product offerings - beyond shoes in future?
Yes. Our demand is growing and I think that in 2023 we will also produce a capsule of bags, belts, key rings and wallets. There is also a demand for these objects. (PC)
How is the business demand now?
The Italian market is recovering, even if most of our turnover remains international.
Which of your footwear segments has the greatest demand in the current scenario?
Heel height has also changed with the pandemic. Many flats have received more praise from the sale than high heels. I believe that the question will be reversed and we will have a surprise for the SS 22 in these terms. Women want to get back on their heels and throw sneakers and slippers in the dumpster!
Published on: 21/06/2021
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.
