Cruciani bracelets ready to emigrate abroad. The weekly magazine «il Mondo» reports the news in an article by Daniela Polizzi and Carlo Turchetti. The two journalists reveal the plan of Luca Caprai, the entrepreneur and manager of the brand that has boomed with macramé bracelets.
From «il Mondo»
An ambitious industrial plan designed by Luca Caprai, 47 years old, third generation of entrepreneurs in the cashmere district of Perugia, the inventor of the Cruciani C brand. Three years ago it was little more than a start-up born alongside the spinning mill for knitwear and outerwear, today it is a business that generates 42 million in revenues (+40%) and 8.5 in EBITDA with 95 single-brand stores for macramé bracelets, leather accessories and scarves. 2014 will be the key year for the brand owned by Maglital, led by CEO Luca and brothers Marco and Arianna, which will reach a turnover of almost 70 million with an EBITDA of 20%. The linchpin will be the opening of another hundred points of sale (boutiques, corners and stands) in China, the United States and Brazil, a country where the company has signed a 51% joint venture with the local retailer Platinum: a hundred or so spaces will be inaugurated over several years, between direct and franchising. The aim is to reach 500 stores, 200 million in revenue (75% generated abroad) and an EBITDA margin of over 25% thanks to new agreements with retail groups. In Caprai’s plans, this goal is set for 2017, the year in which the company could begin work to land on Piazza Affari. The process is fully financed, with the cash generated. The Umbrian entrepreneur is thinking about how to give continuity to the company even if his commitments and state of health (he told «Vanity Fair» about his battle with the disease) require him to take a break. For this reason, he is evaluating the proposals received in recent months together with Unicredit, the bank closest to him. Applications to enter the capital with a large but minority share have arrived from Qatar Investment, from Li & Fung of the brothers Victor and William (a retail giant, also owns the Cerruti brand), from the Lebanese investors of Big and from the funds L-capital, 21 investments and Progressio, the latter having proposed itself for the majority share.
The identikit of the partner preferred by Caprai? An investor capable of bringing skills and management in distribution abroad. The focus is on the US market which today is worth 4% of revenues and will rise to 12% by the end of the year: this is also why Margaret Spaniolo, former top manager of the New York department store Bergdorf Goodman, is arriving. But the same attention is reserved for Greater China, where six stores are opening in Hong Kong, Macao and Taiwan and the search for a retail partner has begun. Another front is e-commerce with a possible agreement for online with the Canadian Nuron. Daniela Polizzi and Carlo Turchetti
