Mar 23, 2018
Delvaux plans new production site in France, to make US store debut
Mar 23, 2018
Luxury leather goods brand Delvaux announced it will open a new production site in France this October, a third for the firm, adding it will bow its first US store in New York this year.
Founded in the Belgian capital in 1829, Delvaux -- which has been back by Asian investors since 2011 -- intends to "double its production capacity to support demand," said management.
The high-end hand bag maker, which also produces in Brussels and in Bourg-Argental (the central east region of France), will open a new production studio in Avoudrey (France's east), not far from Switzerland, in October 2018. The operation expects to have 400 manufacturing staff by 2020.
"We are continuing to strongly invest in know-how and expertise and we are accelerating our geographic diversification in terms of stores," said Frenchmen Jean-Marc Loubier, CEO of First Heritage Brands (FHB), which owns Delvaux, during a press visit to the Brussels facility.
The brand, which holds 37 stores to its name (eight in Belgium, three in Paris and approximately 20 in Asia), will open its first US store in October in New York, on Fifth Avenue across from Central Park.
In Europe this year, London will receive its third store and Italy will get its debut store in Milan.
"We are still doing four or five store openings each year, but these are making us change in stature," said Loubier, who ensures that the firm in the last seven years has increased international revenues from 3% of total sales to 85% of overall revenues made.
Not listed, Delvaux claims to take in annual revenues "superior to that of 100 million euros."
Its competition, France's Hermès, recorded 5.5 billion euros in sales in 2017. In 2011, the Belgian group was acquired by fellow Belgian company FHB, which is now majority owned by the Hong Kong family Fung, associated with Singapore's sovereign wealth fund Temasek.
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