Rinascente, the renowned Italian department store group, has unveiled its plans and initiatives for Milan Design Week, which CEO Pierluigi Cocchini considers to be of greater significance than Christmas. During this highly anticipated event, Rinascente’s Milan store will be transformed into a dynamic space that celebrates the world of design, with a special focus on the Design Supermarket located in the basement. This year, the company will revamp its Kartell and Vitra concessions, and will also introduce pop-up stores for Poltronova and &Klevering. Excitingly, Rinascente is set to launch the amaMI capsule collection, a line of design objects in collaboration with 10 leading brands, inspired by the city of Milan and dedicated to highlighting its unique features. This exclusive collection will be available both in-store at Piazza Duomo and online, offering customers a playful representation of the city.
To further enhance the Milan Design Week experience, Rinascente has invited Saint Laurent to take over its store windows, featuring installations that showcase modern design with selected vintage pieces from renowned designers and architects.
The company’s commitment to reinvention extends beyond Milan. Rinascente will revamp its branches in Turin and Florence in collaboration with Pitti, culminating in a celebratory event in June. Moreover, the Rome Fiume store will undergo a complete transformation at a cost of €28 million, with renovations expected to be completed by May. The Milan Duomo store will also undergo renovation work, with the first phase slated for completion on May 22, involving a total investment of approximately €6 million. These renovations aim to create more accessible spaces, enabling visitors to move freely throughout the store. By removing walls and metal structures, Rinascente intends to establish an open layout, while the updated ceiling will feature backlit panels. The store will boast original stone floors and unvarnished natural oak parquet, as well as a neo-brutalist effect achieved through a cashmere-colored Brenta limestone finish for the masonry.
In terms of financial performance, Rinascente achieved total revenue in the fiscal year 2022 that was nearly on par with its 2019 figures, amounting to just under €800 million. The Milan Duomo store accounted for over half of this revenue, while the Rome Tritone store generated €150 million, and the Florence, Turin, and Rome Fiume stores each contributed around €50 million. Cocchini expressed optimism for 2023, asserting that the year has started off better than the previous one, and the company expects to surpass pre-pandemic results. However, there has been a notable shift in revenue composition, with an increase in business generated by local customers and changes in tourism revenue. While Rinascente once relied heavily on European, Chinese, and Arab customers, the Americas—particularly the USA—have now taken the lead due to the strength of the dollar, accompanied by Canada and Brazil.
For more information on Rinascente and its Milan Design Week projects, please visit their official website here.
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