MILAN — At a time of economic turbulence and a global slowdown in luxury spending, Maison Zilli’s rebirth over the last three years is a rare bird kind of story.
The storied French menswear brand established in 1965 by Teofilo Zilli and credited with having pioneered luxury leather jackets, was acquired in 2021 by Dubai-based investment fund Negma Group, founded by Elaf Gassman.
As the brand gears up for its 60th anniversary in 2025, it’s in much better shape than three years ago, when the acquisition dragged it out of a Chapter 11-like procedure in France.
“We’ve spent the first years analyzing the world that has made the brand globally renowned in its first 60 years,” said president and chief executive officer Giuseppe Di Nuccio, a seasoned industry executive with previous experiences at Prada, Giorgio Armani and Burberry, among other brands.
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“It wasn’t so difficult to position the brand in the high-end menswear [market], that kind of luxury positioning defined by [the quality] of the products…which we often refer to as ‘men’s couture,’” Di Nuccio said.
Since the acquisition and his arrival, Maison Zilli has made leaps toward profitability and implemented a business plan aimed at growing its international scope, while preserving its DNA rooted in leather outerwear and artisanship.
In addition to beefing up management and key divisions, including the design studio, the brand has recently refurbished its only flagship, on Paris’ Rue François 1er; expanded its leather goods assortment; opened a showroom in central Milan to operate sales campaigns, and has developed a global distribution push.
Di Nuccio believes that Maison Zilli’s unique positioning and avoidance of seasonal trends help ensure its profitability. With sales of 40 million euros in 2023, the brand posted net profits of 3 million euros and double-digit earnings before interest, taxes, depreciation and amortization.
“Generally speaking, I think that clients can no longer be teased…I think that even the most sophisticated client today really just wants to buy into the real value of luxury goods and this [is] our advantage,” he said.
To be sure, one key priority for the new investor and the executive upon arrival was the protection and strengthening of the brand’s manufacturing prowess at its storied site in Lyon, France, and in Italy, where Maison Zilli operates facilities in Pescara and Bergamo for tailoring and shirts, respectively. The brand only outsources footwear production.
Since the acquisition, Maison Zilli — which already offered apparel, including denim (currently among the strongest categories), tailoring and knitwear, as well as accessories and leather goods — further expanded its collections.
Leather accessories have been the focus as of late, with the retail debut last month of an expanded assortment, which includes business, weekender and travel-suit bags, as well as small leather goods and footwear.
“We are a full-fledged lifestyle brand, with significant sell out across the different product categories,” Di Nuccio said.
The brand continues to be largely wholesale-dependent, primarily through franchised stores, with about 40 monobrand boutiques operated by partners across Europe, the Middle East and Asia.
In the latter region, Maison Zilli counts seven stores in Greater China and plans to increase that number over the next few years.
Signaling its commitment to the Far East, last November the French label opened a franchised unit in Singapore and is planning to ink more deals with local partners to ramp up its footprint in the region.
Traditional wholesale is a small portion of sales, but the menswear specialist is planning to test the waters of the shop-in-shop model, with one bowing in 2025 at the Caesar Rotterdam multibrand store in the Netherlands with similar activations planned in Germany and potentially Spain, the CEO said.
Its only directly operated flagship, in Paris, was revamped and unveiled last September as part of the new owner’s strategic plan and commitment to the brand’s growth.
“It’s not just a retail destination but rather a step into our world, for customers to discover,” Di Nuccio explained.
The brand conscripted fashion-favorite architect Gwenaël Nicolas to refurbish the four-story, 19th-century building, preserving its allure of a Parisian hôtel particulier but adding a more modern flair.
Maison Zilli plans to open an additional flagship, in London’s Mayfair, in the first half of 2025, before potentially looking at other destinations such as Montecarlo, the CEO said.
Marking its 60th anniversary, the menswear specialist is planning to link up with partners globally to spotlight its made-to-measure service, which the CEO believes has been recently under promoted.
Asked about the brand’s presence in the U.S., the executive said that although online sales in the region are doing well, he sees the market as a target for 2026 and beyond.
