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DVF sights its set on retail expansion

By FashionUnited

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Diane von Furstenberg is looking to expand its retail network – both within and outside of the US. The New York-based

fashion label is planning on opening 100 stores within the US over the next five to six years, as well as expanding its international retail network in over 20 countries.

Joel Horowitz, Co-chairman at DVF, believes that label's largest growth potential lies within its retail network. “When I first sat down with the family to present a plan as to how I envisioned growing the business, retail was the major focus,” said Horowitz in an interview with WWD.

“The plan showed that we could comfortably open 100 stores in the U.S. in a five-to-six-year period. From there, we'd grow the business based on the results of those 100 stores.” Horowitz adds that operating 200 stores with the US is not unfeasible, concerning the label's price point and market segment.

“Our focus as a company has been on New York, Florida, California and Texas. We’re looking and have opened stores in secondary markets such as Seattle and Scottsdale [Ariz.]. We’ll be opening a store in Atlanta soon.” The label aims to open a store in all major cities within the US in next few years.

In order to strengthen the impact of its retail network, DVF is also introducing a new store concept which focuses on the label's accessories. The label's flagship store in New York meatpacking district will be the first store to unveil this new look. “It’s going to be the home of DVF." The label's ultimate goal however "is to get accessories to be 50 percent of sales. It will take three to four years to get there. Today, the classification accounts for a little over 10 percent of sales,” explains Horowitz.

Outside the US, DVF largest international push will be in China. The New York-based label currently had 15 stores in China and is set to open four additional stores by the end of the year. In total, DVF has 47 stores throughout Asia. “In the next four years, we’ll have as many as 40 stores in China,” adds the co-chairman.

In addition, DVF will open eight stores in Korea this year, with eight to ten stores in the pipeline to open next year. The luxe label currently has 12 stores in Japan, two in Taiwan and Singapore and four in Hong Kong. “I see growth throughout all of Southeast Asia,” said Horowitz. “In Macau, we have two stores and we’re bursting at the seams. We'll open a third store next year.”

“We have a partnership in the UK with Tom Chapman for four stores in Mayfair, Notting Hill and Wimbledon in London and an outlet at Bicester Village in Bicester. We see a lot of growth opportunity in the UK, as well as throughout the Continent."

“The focus for our own resources is for US growth. Once we dominate in the US, we'll move on to other territories using our own capital.”

DVF
Joel Horowitz