LuisaViaRoma, the iconic Italian luxury retailer, has recently marked a significant milestone in its expansion by opening its first branch outside of Italy in Riyadh, Saudi Arabia. Situated in a highly exclusive commercial district that has seen substantial investments from local investors, the new 1,100 m2 store represents a key strategic move for the brand, which previously only had its flagship store in Florence.
The rich history of LuisaViaRoma dates back to the late 1920s when Luisa Jaquin first established a small milliner’s shop on via Roma in Florence. Under the leadership of Jaquin’s nephew, Andrea Panconesi, the brand has evolved into a global powerhouse in luxury fashion retail. Beyond its physical locations, LuisaViaRoma has experienced remarkable growth in its online sales, with a 70% surge in e-commerce revenue over the past quarter.
Catering to clients from nearly 180 countries, LuisaViaRoma achieved record-breaking revenue of close to €160 million in 2019, marking a 20% increase from the previous year. The brand’s online presence has solidified its position as a top luxury multibrand retailer worldwide, with a significant 20% contribution from its home country of Italy. The successful foray into the Saudi market coupled with the advancement in e-commerce has firmly established LuisaViaRoma as a key player in the luxury retail landscape.
Looking ahead, CEO Andrea Panconesi has outlined ambitious plans for diversifying product offerings to encompass childrenswear, home décor, beauty products, sportswear, and potentially gourmet delicacies. Moreover, the brand’s communication strategy is set to evolve beyond mere search engine optimization, with a pivot towards hosting large-scale events with a philanthropic angle. Commitment to ethics and community outreach remains a core tenet of the brand’s identity, exemplified by initiatives such as the Summer Gala in Porto Cervo that raised €3 million for UNICEF.
The ongoing success of LuisaViaRoma’s expansion initiatives, both online and offline, underscores its dedication to innovation, growth, and social responsibility. By upholding the values of luxury, excellence, and ethical standards, the brand continues to redefine the benchmarks of luxury retail on a global scale.
To learn more about LuisaViaRoma and explore their stunning collections, visit their official website here. For the latest updates and behind-the-scenes insights, follow LuisaViaRoma on their social media channels here.
