Inès de la Fressange: A Decade of Style and Growth
In the vibrant city of Paris, a fashion icon is celebrating a significant milestone. Inès de la Fressange, a name synonymous with elegance and French chic, is gearing up for an exciting expansion journey as her namesake brand turns ten.
But here's where it gets intriguing: Inès and her team have big plans for the future, aiming to expand their retail presence, conquer the digital realm, and even venture into the world of fragrances.
In a recent joint interview, Inès and Fabrice Boé, the brand's chairman and CEO, revealed their ambitious goals. They hope to open multiple stores in key fashion hubs, with the ultimate vision of reaching a revenue target of 10 million euros within just three years. It's an exciting prospect, but it comes with its challenges.
"We're on the hunt for partners who can support our investment plans," Boé shared. With their current shareholders having been on board since 2013, now might be the perfect time to refresh the ownership structure and bring in fresh resources to fuel their growth.
Inès de la Fressange's journey is a fascinating one. Initially launched in 1991, the brand experienced a split with its backers in 1999. But Inès, a model and muse for Karl Lagerfeld at Chanel in the 1980s, wasn't deterred. In 2013, she signed a collaboration with Uniqlo while simultaneously relaunching her label, which was acquired by a consortium including The Luxury Fund and Calao Finance.
The brand's official comeback in 2015 was marked by the opening of a flagship boutique on Rue de Grenelle, and Inès recently celebrated this milestone with a party that felt more like an English soiree than a typical French affair.
"We French are sometimes seen as stiff, but this celebration was a delightful exception," Inès, now 68, reminisced. As the author of the bestselling style guide "La Parisienne," she was particularly thrilled to see her designs embraced by guests in their twenties.
Inès acknowledges the challenges of operating in the luxury-mass market segment, but she's proud to have reached this significant milestone. Her brand's success lies in offering an accessible alternative to luxury, especially in today's economic climate where consumers are weary of constant price hikes.
The brand's retail strategy is a delicate balance. Inès de la Fressange has opened its second Paris store in the chic 16th arrondissement and has a third boutique in Annecy, along with corners in prestigious department stores like Le Bon Marché and Galeries Lafayette. With a global presence in around 150 doors, including 40 in the U.S., the brand is making solid progress.
"Our Grenelle location has been a shining example of success," Boé noted. "Despite the pandemic's impact on physical stores, our retail performance has been exceptional. Online growth is impressive, but our physical stores are holding their own."
Inès de la Fressange's online presence is growing, with e-commerce sales up 33% year-over-year. The brand is available on platforms like Zalando and Miinto, and Boé believes there's still untapped potential for expansion.
The brand is also considering more standalone stores worldwide, with Milan, London, New York, and key Asian cities at the top of their list. These projects require significant investment, so the brand is open to bringing in investors or finding strong local partners.
As for their financial performance, Boé shared that they're currently at breakeven, with a 10% year-to-date growth as of September 2024. While the economic context is challenging, they're confident in reaching their 10 million euro target within the next few years.
To support their growth strategy, Inès de la Fressange recently appointed Romain Trébuil, the former cofounder and CEO of sustainable sportswear brand Circle Sportswear, as deputy CEO. Trébuil will help implement a new strategic roadmap, focusing on visual communication and showcasing the brand's work more extensively.
"I want to share more of our story and how our pieces are worn. I don't want to be the only face of the brand," Inès shared. She designs her collections with Eric Bergère, and her goal is to attract different generations to her stores.
Since ending its partnership with Uniqlo in 2023, Inès de la Fressange has collaborated with other brands, most recently with cashmere label Linnea Lund. They're also seeking a new footwear licensee and have signed a perfume license with Création Beauté International, with a fragrance launch planned for next year.
Inès, who is working on a new book focused on Provence, believes the Uniqlo collaboration boosted brand recognition worldwide. Her label offers an approachable alternative to luxury, and she's proud of her hands-on, artisanal approach in an industry dominated by large luxury groups.
"We're showing that this model works. I still function as I did with Karl, working closely with models and adjusting designs by hand. It's a different path, and I'm glad it's resonating with women."
As Inès de la Fressange embarks on this new chapter, the fashion world eagerly awaits the brand's growth and the fresh stories it will tell.
