The Eleventy Group, producers of top-of-the-range apparel and accessories, which was founded in 2007 by Marco Baldassari, Paolo Zuntini and Andrea Scuderi is today managed by a Board of Directors made up of the three founders and representatives of Vei Capital, a private equity operator which took over 51% of the company in December. The +35% increase in turnover achieved in only 9 years rewards the corporate strategy which, in contrast to current trends, invested in an outsourcing production system aimed at safeguarding and enhancing the local excellences, thus promoting authentic “Made in Italy” products. “We have a unique manufacturing heritage where tradition and innovative capabilities exist side by side. It is our responsibility to protect this”, explains managing director, Marco Baldassari.
“That’s why our business system is based on a network of 94 selected micro enterprises from Puglia to Veneto, depending on skills and trades which, in a complex of cultures and creativity, allows us to respond with speed and versatility to the market demands, offering easily-identifiable, high-quality products”.The growth of the Group is accompanied by a retail development plan, now comprising a network of 16 single brands (8 Italian and 5 Korean) and 500 Italian and foreign multi-brands. The Group opened the first woman boutique in Cannes, recently. Next openings will be in September the second boutique in Austria (after Leich, in Dornbirn) for man collection; then, in Catania, a surface of 200 mq will have man, woman and home collection. With the entry of Vei Capital, the Group has also implemented a programme of alliances to accelerate the internationalisation process. In fact, the export share, which has an impact of 62% on the turnover, is destined to grow.In Korea, thanks to the agreement with Handsome, a fashion company of the Hyundai conglomerate, 5 new shops have been opened in the most prestigious department store of Seoul, and other openings are forecast by the end of 2017. It is recent the deal signed with a Turkish group, Dogus, for the distribution of the Brand in Turkey and in the Balkans area and, soon, an opening of a shop in shop in Instanbul, at Lafayette.Significant growth has also been recorded in the United States and Canada where the Group is present with the company, Eleventy USA, a joint venture with Earl Rotman, former Private Equity banker, and Geoff Schneiderman, former sales manager in the luxury sector, who, with a market share of 30%, have invested in the growth of the brand in North America.
In January, Eleventy USA inaugurated its showroom in New York and before the end of the year it plans to open a flagship store in the Soho district. In 2015, an important shop-in-shop was also opened in Bloomingdale’s 59th Street department store.The development plan also involves China (by 2016), but not only. “We are keeping a keen eye on the Middle East“, concluded Marco Baldassari, “and perfecting negotiations with an international group for the opening of 7 boutiques between Beirut and Dubai”.Eleventy is present in the responsible luxury sector with vast and extensive high-quality men’s and women’s collections, characterised by the identifying style but no logo.
“We want to fight competition on the market – explains Marco Baldassari, CEO and funder of the Group – sharing with our customers the concept of a responsible luxury which expresses, not only the uniqueness of a Made in Italy product, but also with a balanced price and an efficient service”. It has recently launched the “Platinum” collection which is positioned at the high-end of the market. Also forming part of this line is an eco-sustainable capsule collection made with fabrics, yarns and production processes with zero impact and a reduction in the use of energy (-60%), water (-94%) and carbon dioxide (-45%).Also produced by the Group is the new molecular perfume, Platinum, which, free of any chemical essences, emanates different fragrances depending on the person due to its ability to interact at the level of the pheromones. Platinum is the result of years of research conducted in collaboration with a well-known Japanese perfumer and a historical specialised Florentine company.