 Tom Ford's Expanding Universe Luxury Fashion: Anyone who thought that Tom Ford had plans to develop a niche brand had better think again.
Eight weeks after throwing open the doors of his Madison Avenue flagship, the designer has revealed plans to turn his fledgling company into a major global label.
In a key move, his label, Tom Ford International, will open four more directly operated stores open over the next three years in Milan, London, Los Angeles, and Hawaii. But his long-term goal is far more ambitious - a network of 100 freestanding retail stores within the next decade.
"We have now laid the foundation necessary to become a true global luxury brand and to allow us the platform needed to reach and service our customers worldwide," Ford, President and CEO of his own house, said in a release.
Ford also revealed several agreements with key franchise partners that, beginning in spring 2008, will launch his brand in key cities in Europe, South America, Asia, and the Middle East.
The Texan-born, but peripatetic designer has also inked a deal to create a limited distribution Tom Ford Menswear collection with select luxury retail partners in the US and Europe, also targeted to begin in Spring 2008.
His game plan also includes a restricted list of shop in shops with luxury retail partners. This April, he opened his 845 Madison Avenue store to showcase his signature Tom Ford menswear and accessory collection.
Among the cities targeted to host franchise flagship stores are Moscow, Zurich, St. Moritz, Hong Kong, Beijing, Kuwait, Dubai, and Qatar.
Next spring will also see the launch of retail spaces in Bergdorf Goodman and Neiman Marcus in the US, Harrods in London, Daslu in Sao Paolo, and multiple shop in shops in Tokyo and Osaka.
"Our franchise and retail partners are the best in the business and with them we are confident that we will build a strong global presence and stand for excellence in a world of decreasing standards," Ford added.
Ford plans to follow that up in 2009 with an additional 12 stores, including a directly operated flagship store in London, a franchise flagship store in Shanghai and a second
store in Beijing.
Directly operated stores will open in Los Angeles and Hawaii in 2010, along with 15 franchise stores scheduled in Asia, amongst which a flagship store in Tokyo.
During the next decade Ford has targeted "a minimum of 87" franchise Tom Ford stores throughout Asia in partnership with The Lane Crawford Joyce Group, in places like Japan, Hong Kong, China, Taiwan, Macau, Singapore, Indonesia, Malaysia and Australia.
"We have partnered with the finest companies
internationally including The Lane Crawford Joyce Group, Villa Moda, Trois Pommes, UAE Trading, Mercury, Harrods, Daslu and Neiman Marcus Group giving us the necessary competitive advantage as we expand our menswear business globally. With a clearly defined distribution plan in place and a discerning eye on quality, service and design we are poised to establish the first true luxury brand of the 21st century," stressed Chairman Domenico De Sole, Ford's long-time business partner.
Ford launched his brand in 2005 with a licensing deal with Estée Lauder creating Tom Ford Beauty. It produced a fragrance and beauty collection that debuted in November 2006 with his first women's fragrance, Tom Ford Black Orchid.
This April, the designer launched a collection of 12 luxury unisex fragrances called Tom Ford Private Blend. Now a men's cologne is set to debut in September.
Ford has also deals with Marcolin to produce and distribute optical frames and sunglasses and with Zegna Group to produce and distribute luxury menswear, accessories and footwear.
Ford's company is privately held with practically all the stock owned by himself and De Sole.
By Godfrey Deeny
Courtesy Fashion Wire Daily
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POSTED:
Tuesday Aug. 21st, 2007
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