Table of Contents
Executive Summary
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- Italy
- A fashion conscious population willing to spend
- Trading conditions harsh
- A fragmented market, but importance of multiples increasing
- Franchising very popular
- Non-specialist channels important
- Cross-border activities
- Key players
- Forecasts
- Europe
- Italy and the UK close the gap on Germany
- Clothing market contracts in five countries
- Hungary and Greece the star performers
- Eastern Europe still well adrift on per capita spend
- Clothing specialists losing share of all retail sales
- Several factors at play
- UK’s specialists sector holds pole position
- Growth rates vary greatly
- Other channels growing
- Food retailers
- E-commerce
- M&S and C&A cling to the top spots
- Seven chains with over 1,000 stores
- C&A flexes its muscles
- Corporate activity
- And speculation
- Forecasts
Report Scope and European Outlook
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- Report scope
- Currencies
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- Figure 1: Europe: Euro currencies: Entry rate into the Euro
- The clothing sector
- The European clothing sector outlook
- Company prospects
Background Data – Italy
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- Population
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- Figure 2: Italy: Population trends, 1997-2001
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- Figure 3: Italy: Population, by age group and sex, January 2001
- Figure 4: Italy: Households, by number of members, 1971-2000
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- Figure 5: Italy: Population, by region, January 2001
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- Figure 6: Italy: Major cities, 2001
- Economy
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- Figure 7: Italy: Gross domestic product, 1995-2002
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- Figure 8: Italy: Consumer prices, 1996-2002
- Figure 9: Italy: Consumer expenditure, 1995-2003
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- Figure 10: Italy: Detailed breakdown of consumer expenditure, 1999-2003
Clothing Retailing in Italy
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- Clothing market value
- Channels of distribution
- Department and variety stores
- Food retailers
- Sports goods retailers
- Home shopping
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- Figure 11: Italy: Estimated channels of distribution for clothing, 2003
- Property matters
- Internationalisation
- Corporate activity
- The Italian clothing specialists’ sector
- Sector value and trends
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- Figure 12: Italy: Clothing specialists’ sales, 1999-2003
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- Figure 13: Italy: Clothing specialists, relative performance, 1999-2003
- Outlet and enterprise data
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- Figure 14: Italy: Retail enterprises by sector, 1997-2001
Prospects and Forecasts
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- Figure 15: Italy: Clothing specialists’ sales forecasts, 2003-08
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- Figure 16: Italy: Clothing specialists, relative performance, 1999-2008
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Leading Specialists
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- Domestic companies dominant
- Increasing presence of foreign owned companies
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- Figure 17: Italy: Leading clothing specialists, 2003
- Designer brands
- Market shares
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- Figure 18: Italy: Leading clothing specialists’ estimated market shares, 2003
Major Company Profiles
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- Benetton
- Background
- History
- International expansion accelerates
- Megastore development
- Management changes
- 2004-2007 corporate plan
- Ownership
- Financial data
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- Figure 19: Benetton: Financial performance, 1999-2003
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- Figure 20: Benetton: Consolidated sales by geographical area, 2000-03
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- Figure 21: Benetton: Consolidated sales by commercial activity, 2002 and 2003
- First quarter 2004
- 2004 outlook
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- Figure 22: Benetton: Group financial targets, 2003, 2004 and 2007
- Outlets
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- Figure 23: Benetton Group: Outlet numbers, 1999-2003
- Figure 24: Benetton: European store coverage, 2003
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- Figure 25: Benetton: Store numbers by major European country, August 2004
- Figure 26: Benetton Group: Evolution of directly owned stores, 2000-03
- Products
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- Figure 27: Benetton Group: Sales by brand, 1998 and 2003
- Advertising and marketing
- SWOT
- C&A
- Background
- History
- Expansion in Continental Europe
- Further afield
- Restructuring
- UK/ROI bear the brunt
- Picking up the pieces
- Image rebuilding
- New fascias
- Too little, too late?
- Financial data
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- Figure 28: C&A: Financial performance, 2000-04
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- Figure 29: C&A: Turnover in selected European markets (e), 2003/04
- Outlets
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- Figure 30: C&A: Number of outlets, by European country, 2000-04
- Expansion pace picks up in 2002/03…
- …and continues in 2003/04
- Future plans
- Products
- Inhouse brands
- Price-led strategy
- E-commerce
- SWOT
- Etam Développement
- Background
- History
- Organic and acquisitive international development
- Central buying abandoned and recovery programme instigated
- Financial data
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- Figure 31: Etam Developpement: Financial performance, 1999-2003
- 2003 results
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- Figure 32: Etam: Breakdown of sales by domestic/international markets, 1999-2003
- Figure 33: Etam: Development of operating profit by geographical area, 2001-03
- Disappointing 2004 interim sales
- Outlets
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- Figure 34: Etam: Outlet data, 1999-2003
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- Figure 35: Etam: Outlet numbers by country, 2002 and 2003
- Products
- Etam Prêt-a-Porter
- Etam lingerie
- 1.2.3
- Tammy
- SWOT
- H&M Hennes & Mauritz
- Background
- History
- Ownership
- Expansion in Europe and beyond
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- Figure 36: H&M Hennes & Mauritz: International expansion record
- Plans to step up international expansion
- Marketing and the offer
- Concept stores
- Long standing home shopping arm
- Financial data
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- Figure 37: H&M Hennes & Mauritz: Financial performance, 1998/99-2002/03
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- Figure 38: H&M Hennes & Mauritz: % change in local currency sales by country, 2001/02-2002/03
- Figure 39: Hennes & Mauritz: Relative sales importance by country, 1999/2000 and 2002/03
- Interim results 2004/05
- Outlets
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- Figure 40: H&M Hennes & Mauritz: Outlet data, 1998/99-2002/03
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- Figure 41: Hennes & Mauritz: Sales versus outlet growth by country, 1999/2000-2002/03
- Concept stores
- Future expansion
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- Figure 42: H&M Hennes & Maurtiz: New store openings, December 2003-May 2004
- Products
- Sourcing and lead times
- Buying functions split
- Customer loyalty card
- Home shopping
- SWOT
- Grupo Inditex
- Background
- New formats
- International presence
- Innovative vertically-integrated model
- Financial data
- Full-year results
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- Figure 43: Grupo Inditex: Financial performance, 1999/2000-2003/04
- Latest data
- Performance by fascia
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- Figure 44: Grupo Inditex: Sales performance by fascia, 2000/01-2003/04
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- Figure 45: Grupo Inditex: Operating profit performance by fascia, 2002/03-2003/04
- Geographic breakdown
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- Figure 46: Grupo Inditex: Consolidated net sales by geographic region, 2001/02-2003/04
- Figure 47: Grupo Inditex: Domestic and international sales mix, 1999/2000-2003/04
- Sales by selected European markets
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- Figure 48: Grupo Inditex: Sales in selected European markets (e), 2003/04
- Market share – Spain
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- Figure 49: Inditex Spain: Domestic sales as % of clothing specialists sector, 1999/2000-2003/04
- Outlets
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- Figure 50: Grupo Inditex: Outlet and country numbers, 1999/2000-2003/04
- Figure 51: Grupo Inditex: Outlet data, 1999/2000-2003/04
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- Figure 52: Grupo Inditex: Outlet data by fascia, 2001/02-2003/04
- Figure 53: Grupo inditex: Space by fascia, 2003/04
- Franchised presence
- European store data
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- Figure 54: Grupo Inditex: Outlet data by European market, January 2004
- Expansion strategy
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- Figure 55: Grupo Inditex: Forecast number of store openings, 2004/05
- Products
- Zara
- Pull&Bear
- Massimo Dutti
- Bershka
- Stradivarius
- Oysho
- Kiddy’s Class
- Zara Home
- Pricing
- E-commerce
- SWOT
- Mango
- Background
- History
- Philosophy
- Systems
- Franchising
- The future
- Financial data
- Five year performance
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- Figure 56: Mango: Financial performance, 1999-2003
- Latest full-year results
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- Figure 57: Mango: Domestic and international retail sales mix, 1999-2003
- Retail sales by selected European market
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- Figure 58: Mango: Retail sales in selected European markets (a), 2003
- Market share – Spain
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- Figure 59: Mango: Domestic sales as % of Spanish clothing specialists sector, 1999-2003
- Forecast
- Outlets
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- Figure 60: Mango: Outlet data, 1999-2003
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- Figure 61: mango: Outlet data by European market, July 2004
- Non-European activities
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- Figure 62: Mango: Non-European stores network, July 2004
- Products
- Media presence
- E-commerce
- SWOT
- Vivarte
- Background
- History
- Clothing added to portfolio
- Internationalisation and reorganisation
- Poor results lead to management changes
- PAI Partners move in
- Financial data
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- Figure 63: Vivarte: Sales performance, 1998/89-2002/03
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- Figure 64: Vivarte: Operating profit and margin, 1998/99-2002/03
- Interim results 2003/04
- Outlets
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- Figure 65: Vivarte: Outlet data, 1998/99-2002/03
- Caroll
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- Figure 66: Caroll: Store network, 2001/02 and 2002/03
- Kookaï
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- Figure 67: Kookaï: Store network, 2001/02 and 2002/03
- Figure 68: Kookaï: European outlet network, June 2003
- La Halle!
- Parti Prix
- Creeks/Liberto
- Products
- Caroll
- Kookaï
- La Halle!
- Parti Prix
- Creeks/Liberto
- E-commerce
- SWOT
Mini Company Profiles
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- Chicco Artsana
- Background
- Financial data
- Outlets
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- Figure 69: Chicco Artsana: Number of outlets by country (a), 2003
- Cisalfa
- Background
- Financial data
- Outlets
- Diramode (Pimkie)
- Background
- Financial data
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- Figure 70: Pimkie: Group sales, 2000-03
- Outlets
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- Figure 71: Pimkie: Outlet data, June 2003
- Groupe Zannier
- Background
- Financial data
- Outlets
- Gruppo Coin
- Background
- Financial data
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- Figure 72: Oviesse Italy: Sales performance, 1999/2000-2003/04
- Outlets
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- Figure 73: Gruppo Coin: Estimated clothing outlet data, 1999/2000-2003/04
- Orsay
- Background
- Financial data
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- Figure 74: Orsay: Estimated sales performance, 1999/2000-2002/03
- Outlets
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- Figure 75: Orsay stores: Outlet data, estimated, 1999/2000-2002/03
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