From 25 to 100 million in turnover within the next five years. From made in Italy footwear startup to international total look brand. From e-commerce to corners in department stores and street-facing windows, making omnichannel the winning lever for growth. Velasca, the fashion brand born in Milan with the idea of becoming the flag of Italian craftsmanship, is 10 years old celebrating its first profit and an EBITDA aiming for 25%. “Our secret is having kept the customer at the center – explains Enrico Casati, founder together with Jacopo Sebastio di Velasca – and have always been consistent in the offer of products and in communication. This transparency has rewarded us and made us grow”.
The growth of Velasca
Ten years of growth, which also served to focus on the business model, which moved from just an online store to traditional ones, which now account for half of the turnover of 25 million. “Our experience – continues Casati – has shown us that the combination of the two sales channels is the winning formula. We have focused on the strategy of small shops to show the quality of our products, which we can then still deliver to the customer’s home, if requested”.
I shop
There are currently 18 stores in 11 cities, from Milan to Rome, from Paris to New York. The goal now is to cover at least 40 locations by 2026. The stores are then flanked by corners, such as the 7 that have been opened inside of the Rinascente chain. To finance this second phase of growth, new capital will be needed, around 20 million. Between 12 and 15 million, the company hypothesizes, will be raised with a new round and the remainder will be in debt.
It total look
Over the years, men’s shoes have been joined by women’s shoes. Then, last autumn also the launch of the men’s total look collection, with the desire to replicate with the female one. “An idea born with Covid – says Sebastio – during which we questioned ourselves about which assets we had at home and which we were not yet making an income. Women’s footwear was the natural extension, to formulate a complete and coherent proposal with the value of each individual customer”.
In the industrial plan there is now the goal of 100 million in turnover to be reached in five years. But the vision is much broader. Making Velasca an increasingly international and complete brand, which also embraces other products born in Italy, from design to catering. “Our dream is to become synonymous with the beautiful and well-made Italian style – continues Casati -. We aim to grow, but maintaining the consistency that distinguishes us and our values”.
With a projection towards foreign countries, where the greatest boost in turnover in the years to come can come from. “From a startup we have become a structured company – concludes Sebastio – with a consolidated business model. We have shown that we are competent in this sector both online and offline, with loyal customers who come back to buy again during the year and who represent more than half of the turnover”.