Both Manas and Coccinelle are family-owned companies, specializing in shoes and handbags, respectively, and both of them have most of their products manufactured in Italy. Each one has an annual turnover of around €50 million. After looking at other possible licensing opportunities, Manas, the shoe company run by Cleto Sagripanti, a young manager who was elected president of the Italian shoe industry association (Anci), has decided to work first with Coccinelle, and to do the job well before considering any other licenses.
Manas' three-year renewable license agreement with Coccinelle will start with the fall/winter 2012 collection. The shoes will be sold through Coccinelle's stores and third parties, concentrating initially on the Italian and French markets, where the brand is well known. At the moment, the Italian market represents 64 percent of Coccinelle's sales, and the rest of Europe 27 percent.
Coccinelle has managed its own shoe business directly since 2001, working with various Italian manufacturers, especially in the Campania region, but this activity has come to represent only about 3 percent of its turnover, with the line sold mainly in Coccinelle stores.
The idea is to expand the Coccinelle collection and to at least double the revenues from the line to about €3 million in three years' time, making them equivalent to between 7 and 8 percent of Coccinelle's turnover. Manas' Coccinelle shoes, targeted at a female clientele, will be made in the Marche region and will sell at an average retail price of €150 per pair, positioning the line at a slightly higher level than the Manas branded collection.
Manas currently produces about 1.5 million pairs of shoes per year, working mostly with other workshops in the Marche region. It has showrooms in Milan, Barcelona, Chicago, Marseille, New York, Brussels, Amsterdam, Paris, Monaco, Stockholm and Moscow. It manages 19 single-brand stores and sells its products in more than 3,000 stores around the world.