Brunello Cucinelli Advocates for Multibrand Retailers at NE(x)T Conference
Emphasizing the Importance of Identity in Retail
At the recent NE(x)T Retail conference, titled “The Future of Multibrand between Continuity, Transformation, and Made in Italy,” renowned Italian fashion designer Brunello Cucinelli delivered a compelling address that underscored the vital role of multibrand retailers in the fashion industry. Organized by Camera Buyer Italia in collaboration with the Ministry of Enterprises and Made in Italy, and under the patronage of the Camera Nazionale della Moda Italiana, the event brought together industry leaders to discuss the evolving landscape of retail.
Cucinelli, known for his luxurious cashmere products and commitment to ethical fashion, expressed deep appreciation for multibrand retailers, stating, “I grew up with multibrand retail; until 30 years ago, that was the business.” He noted that even today, a significant 40% of his company’s sales are generated through wholesale channels. This statistic highlights the enduring relevance of multibrand retailers in a rapidly changing market.
Acknowledging Historical Contributions
Reflecting on the past, Cucinelli paid tribute to influential figures in the retail sector, particularly Barney Pressman, the founder of the iconic New York department store Barneys. Cucinelli recounted how Pressman discovered his brand at Pitti Uomo, a prestigious fashion trade show, and subsequently showcased his products in New York. This moment was pivotal for Cucinelli, marking the beginning of his journey in the global fashion arena.
“Your stores are a source of inspiration for us,” Cucinelli remarked, emphasizing the cultural and architectural significance of multibrand retailers. He acknowledged that these establishments have been integral to the fashion landscape for decades, serving as custodians of brand identity and customer relationships.
The Digital Dilemma
Despite his admiration for multibrand retailers, Cucinelli raised concerns about the challenges posed by the digital age. He pointed out that while e-commerce has become a significant revenue generator, it often lacks the personal touch and identity that physical stores provide. “In a physical store, you can understand who we are; online it is more difficult,” he explained.
Cucinelli urged multibrand retailers to cultivate a stronger online presence that mirrors their physical identities. He cautioned against the risk of losing brand essence in the digital realm, stating, “I understand that e-commerce generates a lot of turnover – although I believe it is not especially profitable – but the risk is that you lose your identity.”
The Call for Consistency
Cucinelli’s call for consistency between physical and digital platforms is particularly relevant in today’s retail environment, where consumers increasingly expect a seamless shopping experience. He encouraged retailers to leverage their rich histories and deep understanding of their clientele to create online experiences that reflect the beauty and uniqueness of their boutiques.
“Your boutiques are beautiful; I would like your websites to be a reflection of your boutiques,” he concluded, emphasizing the need for a cohesive brand narrative across all channels.
The Future of Multibrand Retail
The discussion at the NE(x)T Retail conference is part of a broader conversation about the future of retail in an era marked by rapid technological advancements and shifting consumer preferences. As the industry grapples with the implications of e-commerce, the insights shared by Cucinelli resonate with many retailers who are navigating the complexities of maintaining brand identity in a digital world.
Historically, multibrand retailers have played a crucial role in shaping consumer perceptions and trends. They have been instrumental in introducing new designers and products to the market, often serving as the first point of contact for consumers with emerging brands. This unique position allows them to influence purchasing decisions and foster brand loyalty.
Conclusion
Brunello Cucinelli’s address at the NE(x)T Retail conference serves as a timely reminder of the importance of multibrand retailers in the fashion industry. His emphasis on the need for consistency between physical and digital identities highlights a critical challenge that many retailers face today. As the industry continues to evolve, the insights shared by Cucinelli may guide multibrand retailers in navigating the complexities of modern retail while preserving their unique identities. The future of retail may well depend on their ability to adapt and innovate while staying true to their roots.
