07 Sep. 2011
COIN GROUP OPENS EXCELSIOR DEPARTMENT STOREItalian Coin Group has opened a new department store called “Excelsior Milano” in Milan, in the Galleria del Corso. The store has a retail space of 4,000sqm on seven floors and is dedicated to fashion, food and design. In the past, the location was occupied by the Excelsior and Mignon movie theaters, which were closed years ago.
Excelsior Milano exterior
"I wanted to create an iconic space in the heart of Milan to help strengthen its fashion vocation," commented Stefano Beraldo, CEO Coin Group. "The Excelsior movie theater has been closed for many years. I figured it would be the ideal venue for a different, spectacular store with a high artistic value."
Aim of the initiative is to add a new retail segment to the Coin Group operating in Italy and abroad through the OVS Industry, Coin and Upim Pop and offer a wide selection of apparel, accessories, footwear, jewelry, beauty and fine food (the two basement levels are dedicated to fresh gourmet products).
Excelsior Milano interior
The new department store's selection of fashion-related brands was coordinated by Antonia Giacinti, Milan retailer and owner of the Antonia stores. The store's offer focuses on international brands such as - just to name a few - Tiffany, Valextra, Borsalino, Helmut Lang, Rag & Bone, Alice & Olive, Martin Margiela, Marc Jacobs, Golden Goose, Edwin, Levi's Limited Edition, PRPS, Marni, Dries van Noten, Jimmy Choo and Manolo Blahnik.
The investment made is said to amount about €30 million (€20 million by Beni Stabili, owner of the building, €10 million by the Coin Group) with the store’s estimated generated revenues to be about €40-50 million.
The new Excelsior Milano format is said to be also implemented in other Italian cities soon. An old building from the 1800s on Verona's Via Mazzini is the next project, to be followed by openings in Padua and Naples in the near future.
Maria Cristina Pavarini
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