Francesco Ragazzi is all grown up — and so is his brainchild Palm Angels. The brand has been logging a yearly high double-digit growth since 2017 and has several projects in the pipeline, including a fall 2023 show in Paris during fashion week.
Asked about the relationship with New Guards Group, the Off-White licensee that in addition to Palm Angels includes Marcelo Burlon County of Milan, Heron Preston, Alanui and Kirin Peggy Gou, among others, Ragazzi described it as “a creative incubator, a platform that allows you the possibility to express yourself and provides production, logistics and finance, but then the brand walks on its own — just as parents would let their child do.
While Palm Angels was launched as a menswear brand, they have seen a growing interest from women buying into men’s apparel, so that a key goal is to develop the women’s business. Menswear represents 80 percent of sales. “We are aiming at increasing the women’s business to at least 35 percent in the next three to five years,” said Robino.
Ready to wear accounts for 90 percent of sales, but, based on growing interest in sneakers and women’s shoes, Ragazzi and Robino see strong potential in the footwear business. Sneakers currently account for 6 percent of total sales. Accessories — bags and leather goods — make up for the rest, but the objective is for shoes and accessories to grow and reach 30 percent of revenues, and for apparel to represent 70 percent. Jersey shirts and outerwear account for 50 percent of the business.
For the brand, which also has kids’ and eyewear collections, it is also a priority to respond to customers’ growing demand for outerwear and knitwear by expanding these categories. The collaborations with Moncler, Missoni and Vans have helped support this strategy.
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