Clouds in the Middle East over Arav Group's projects: 'But we continue with our growth strategy'
Mena Marano, CEO of the Campania-based group headed by John Richmond: 'Forced to put important investments on hold, but we are not stopping and are aiming at new markets'
"For 8 March we had planned a big event, with a thousand guests, to present the start of work on the John Richmond towers in Dubai. Now everything is suspended, we will see what will happen": there is natural concern in the words of Mena Marano, ceo of the Campania-based Arav group, to which the John Richmond brand has been headed since 2017. Nine years of investment for its relaunch, with visible results, would have culminated in the launch of the first project linked to real estate, John Richmond Real Estate, developed in partnership with Mira Developments, ready to go with the launch of the first phase with seven residential towers and over 300 flats. "The Middle East is strategic for us," continues Arav's CEO, "We have a widespread presence, with shops in the Emirates, Arabia, Qatar, Kuwait. On 2 February we participated with John Richmond in the Dubai fashion week, and we have just started contacts to open a shop in Riyadh'.
Certainly in this apprehension, the Arav group - to which, in addition to John Richmond and its collateral brands, Silvian Heach and five junior fashion brands under licence, from Cavalli to Trussardi Kids, also belong - is not alone, since the Middle East, especially after the slowdown in China, was considered the most promising region for the global fashion and luxury market. Altagamma's Consenus, last November, estimated its growth at 6%, the highest of any region on the planet. However, if this remains on hold, Arav's other, numerous projects do not stand still: "At the Salone del Mobile in April we will have a large 500 square metre stand where we will present the home collection project, realised in collaboration with Formaitalia, after the launch of a capsule of chairs last year," continues Marano. "On 5 March, in New York, we will present the Eva Leah for John Richmond Kids capsule at Saks Fifth Avenue, a project that will be in Miami in April.
In London, meanwhile, the fashion show of John Richmond's A/W 26-27 collection, last 23 February, was a success: 'We had an excellent response, the brand regained a lot of visibility, certainly the beauty of the location, the crypt of St Martin-in-the-Fields church in Trafalgar Square, also helped. We have launched a new line of jewellery in Vicenzaoro, eyewear, perfumes; we are preparing luggage with Roncato and we have confirmed the historic licence with the Zengarini shoe factory in Montegranaro. We want to enhance this brand more and more, and we are also looking at possible capital opening opportunities to expand its presence in international markets, such as the United States'.
Silvian Heach, founded by the group in 2002, also belongs to Arav: "We plan to open 20 new shops in the next three years," continues the entrepreneur. "We are well distributed in Europe and we are approaching the United States and Canada, always with a very clear product positioning, with an excellent relationship between quality, style and price, which is the strength of the brand. Also under development is the children's division, building on Arav's expertise in the segment: "We are also evaluating new opportunities here," says Marano. To implement these ambitious plans, the company recently decided to renew its management: 'Our new chief financial officer (cfo), Silvia Menigatti, comes from the world of private equity, with a great deal of experience. We have also added two other key profiles, including a new head of operations who specialises in the application of artificial intelligence programmes. You have to open up if you want to grow'.
