Malo is gearing up for international growthMalo's chief officer Giuseppe Polvani said the company saw a 20 percent revenue rise to almost 25 million euro in 2013, as its new strategy saw it working with partners to speed up its international growth.
The company, which was founded in 1972 in Florence, currently has 30 stores with seven of them, most of them in Italy, being directly-operated. Its second largest market is Russia, currently accounting for 20 percent of its production, but China and the US are major focuses this year.
Polvani told MFF that its new stores for 2014 will be via franchise partners with a Beijing location opening in March and Taiwan in May. It is targeting ten stores in Greater China.
In the US, its partner Mosaicon has taken over its existing boutiques and will open more, while in Japan its deal with Misaki will see the brand available in fourty stores.
Polvani also said the company will make a profit in 2014, making it one of the few former assets of the failed IT Holding to achieve a successful turnaround.