Fashion house Ami Paris is expanding in China, aiming for annual revenue of 300 million euros worldwide.
Photo from CFP
By ZHU Yongling
French fashion house Ami Paris is expanding in China with its first store in Southern China set to open in Guangzhou, following two recent openings in Chongqing and Wuhan.
Ami’s CEO Nicolas Santi-Weil told Italian media MF Fashion that the company was aiming for annual revenue of 300 million euros (2.4 billion yuan, US$ 330 million) worldwide. Last year's revenue stood at 230 million euros.
Ami was founded in 2011 by designer Alexandre Mattiussi. Positioned as an affordable luxury in the thousand-yuan range, the brand adopts a casual and everyday design style. It has established brand recognition through its iconic logo featuring a heart-topped "A."
Unlike some brands that establish themselves in the domestic market before expanding overseas, Ami had ambitions beyond France and Europe from its inception. Within five years, it had stores in Tokyo, London and Hong Kong.
Ami came to the Chinese mainland in 2018. In 2021, Santi-Weil told Forbes the Chinese market was the best in the world. At the time Ami had eight stores in China, with sales four times higher than the year before.
In the same year, Sequoia Capital China (now Hongshan Capital) invested in Ami and the pace of expansion stepped up.
Ami has expanded from initially offering only men's clothing to include women's clothing and accessories. Currently, women's clothing contributes 20 percent of revenue.
In Asia Ami relies heavily on social media marketing. Santi-Weil has openly stated that Ami's success in China is down to the brand's connection to local culture and celebrities.
The brand comes in for a lot of criticism online. Apart from a few, the design and quality of Ami's other products are not outstanding. Consequently, the barrier for counterfeit products is low, leading to the proliferation of cheap imitations and copycat brands.
As a young brand, Ami relies on trendy items to attract consumers. Cultivating consumer loyalty and maintaining relevance is crucial to revenue growth.