Canali disclosed on Thursday that it has taken over from a franchisee partner in China to gain control of several stores in seven Chinese cities.
As a result, the Italian luxury menswear brand is assuming full control over all ten stores in Changsha, Changchun, Hangzhou, Kunming, Nanning, Taiyuan, and Xi’an.
The takeover reflects the growing importance of China as a strategic market for the brand and it is aimed to further strengthen Canali’s position in luxury menswear by gaining control of its distribution and brand image in these cities.
“This is an important project that stems from our conviction about the leading role of the Chinese market,” said Stefano Canali, president, chief executive officer, and the third generation of the family. “The acquisition signifies our long-term commitment to this strategic market and marks an important cornerstone of the next phase of Canali’s growth in China to elevate brand presence and customer experience.”
“Our presence in China dates back to the late ‘90s and we have a deep respect for the Chinese culture that shares many similarities with the Italian one,” Canali added. “We are always trying to create ‘cultural bridges’ to leverage the best of both cultures thanks to the support of Chinese and Italian colleagues operating in multiple offices and geographies within the company.”
Canali has a total of 47 stores across China. 26 stores are now directly operated across 12 Chinese cities and regions including Beijing, Shanghai and Nanjing, Hong Kong, and Macau.