Save My Bag, an Italy- based ‘Poly-Lycra’ handbag brand, will open 20 new mono-brand stores in US and Asia from 2016. As Asia is the company’s main market, it is focusing on China also. Save My Bag has also signed a deal with Bloomingdale’s for distribution in the US; with Saks for Dubai and Abu Dhabi; and with Harvey Nichols for Hong Kong.
The brand’s products are 100% Made in Italy, using fabrics produced by the Carvico only. As of now, Save My Bag produces 6,500 handbags per week and is expected to close this year with a revenue of € 4.5 million as it generate € 1.3 million in 2014. Save My Bag line originated from the idea of creating a handbag cover made from an innovative fabric (Italian Lycra and a low density foam). This is waterproof, washable, soft and elastic, and could act as a cover protecting handbags from shocks, rain, etc.
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Stefano Agazzi, the brand’s founder together with his wife Valentina Agazzi says that China, Japan and South Korea are our leading markets for sales; and exports to these markets currently account for 70% of our total sales. We will however still continue to open stores in Italy, starting with a retail outlet inside Milan Malpensa airport at the end of November. We’re also negotiating for our first mono-brand store in Rome, in Via della Croce.
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