Luisaviaroma closes Milan headquarters
The 500-square-meter space on Via Spadari will close its doors after just over a year of existence, while jobs will be safeguarded. Layoffs have been averted for the 22 employees present in the Lombard capital, for whom a transfer to Florence has been planned by the end of September.
The opening in Milan had marked an important step in the Florentine luxury e-tailer's expansion plan, followed by its landing in New York with a mega-store of over 1,000 square meters. The positive growth phase driven by post-Covid online sales then slowed with the return to the physical channel, aggravated by the outbreak of the luxury crisis and now squeezed between wars and tariffs.
"A change in consumption is taking place, prices have been too high and less is being created. For us, a location in Milan was too much, but we protected the workers by proposing an incentivised relocation," Luisaviaroma CEO Tommaso Maria Andorlini told the press.
The company, which owns the e-commerce platform of the same name and the historic boutique in Florence, is 40% controlled by the private equity fund Style Capital and, since last January, has taken on a group structure with the acquisition of Holding It (Playground and FFW Srl), with a workforce of 200 employees and around 400 million in gross sales.
Andorlini was positive about the business' 2024 performance. "It was better than 2023 with sales up and margins negative but improving."
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