Italian luxury menswear brand Canali will open its largest company-owned store today in London. The site at 126-127 New Bond Street, London, will also be its UK head office and showroom.
Canali previously had a store at 122 New Bond Street that was operated under franchise by menswear group Moss Bros. However, the franchise deal came to an end earlier this year and Moss Bros converted the premises into a Hugo Boss store.
Canali’s new store will be fully owned and operated by the Italian brand.
Canali’s commercial director Paolo Canali told WWD: “The UK is our third-strongest market after the US and Italy. We wanted a much stronger presence in London.”
He added that he expects the store to turn over £6m in its first full year of trading.
“2010 started with a much more positive note. We’ve seen a 20% increase in the first quarter in our own stores. Men are buying suits again,” he said.
The new store is understood to measure 7,500 sq ft and will sell Canali’s sportswear, leisurewear, shirts and accessories on the ground floor and suiting on the lower ground level. There will also be a made-to-measure area with a VIP room.
Canali has already opened stores in Hong Kong and Shanghai this year and said it will open a total of 20 in the calendar year, bringing its total to 175 worldwide.