Internationalization, combined with an ever higher positioning, rewards Giglio.com, a company active in the sale of multi-brand luxury products that has been listed on Euronext Growth Milan since last year.
The retailer, which has its foundations in the luxury boutiques opened in Palermo by Michele Giglio, closed the first nine months of the year with revenues of 33.5 million euros, up 39% on the same period last year. , and Gmv (the gross value of sales) equal to 37.5 million euros, + 41% over the period January-September 2021. Two thirds of the Gmv in the third quarter are made abroad: “We have not suffered the direct impact of the war, given that Russia and Ukraine have a share of less than 1% of sales, and although Eastern Europe is suffering and Brexit has proved disastrous, we are registering particularly positive performances in non-European markets which absorb 50% of the revenues », explains Giuseppe Giglio, president and CEO. In detail, in the third quarter there was record growth in the Middle East (+ 83%), North America (+ 58%) and Asia-Pacific (+ 41%) with China reaching +110 percent.
From family boutiques to the platform
The international expansion that is driving Giglio.com sales is the result of complex work but also of what Giuseppe Giglio defines as “a change of mindset: we have made the choice of no longer being a family with shops and a online site, but to take a specific path, that of digitization ». A path that the Giglio family – together with Giuseppe and his father Michele his brother Federico Giglio works in the company with the role of CEO – wanted to undertake as independent: «We have our own technological platform and we manage everything internally. This allows us not only to better follow our customers but to continuously update ourselves. An example: to open a market we must have a customer care service that works in the corresponding time zone, but also a suitable brand mix, texts and website functions in the same language ».
Higher ranking (which customers like)
Giglio.com has focused on an ever higher positioning (in Q3 the average value of products sold rose by 7 percent over 2021) and this choice was welcomed by international customers: during the third quarter spending average per customer stood at + 9% compared to the corresponding period of 2021. Many of the brands are made in Italy: “We are Italian, naturally brought to the top of the range, and we want to support our products around the world“.
Physical investments in Palermo (and beyond)
If digital is Giglio.com’s first and main expansion tool, there is no shortage of physical investments, most of which in Palermo: “We remain proudly made in the Mediterranean – says Giglio – and we aspire to promote young talents in the area thanks to agreements with universities “. Specifically, for example, today the new men’s-women’s boutique is inaugurated in Piazza Francesco Crispi: 2 thousand square meters on two levels with furnishings produced by local artisans. Then there is the new shooting lab: 5 thousand square meters in a former industrial area undergoing redevelopment that will be added to the existing headquarters and the logistics center inaugurated a year ago. And at the center for the preparation and fulfillment of orders in Vimodrone, in the province of Milan, opened in March of this year, «essential to be competitive in the timing of shipments».