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Diesel looking to reinvent itself under Nicola Formichetti

Diesel looking to reinvent itself under Nicola Formichetti
Kristopher Fraser| Tuesday, March 17 2015

Nicola Formichetti, Creative Director of Diesel, is out to reinvent the brand and make it more fabulous than ever. While the brand already has a huge following, Formichetti wants to elevate and give the brand a whole new feel, and one of his first steps towards doing that is ensuring that all the stores have a new concept. Those longtime fans of Diesel will soon be able to enjoy more intimate and sophisticated shopping spaces.

Their new store concept will first be visible in NYC, with plans for a new flagship store to open on the corner of Madison Avenue and 59th Street slated to open this fall. Over the next three to five years the brand plans to commit to opening and relocating 120 stores, as well as doing 30 to 40 refits each year. With the shift in shopping to consumers looking for a more personalized retail experience, Diesel is doing the right thing by changing up their store concept.

Diesel to unveil new store concept

In the past, Diesel stores have usually been quite spacious with high ceilings and plenty of room to move around, but with shoppers moving more towards e-commerce it is important that brick-and-mortar stores give their customers a personalized shopping experience that will make them want to shop at physical locations. The proposed Madison Avenue flagship is expected to be over 3000 square feet and will be much smaller and more intimate than its predecessor. The former Fifth Avenue flagship was almost 10,000 square feet and was in a shopping area of Manhattan that now includes many entry-level priced stores like Forever 21.

With the dynamics of the neighborhood and shopping habits changing it was smart for Diesel to move on from the location. Madison Avenue is one of the most iconic shopping strips in the world and is home to everyone from Calvin Klein Collection to Chanel. If Diesel is looking for that upscale client and luxury shopper they needn’t look any farther.

The new store concept is being developed with the help of interior and retail architect Masamichi Katayama and his Tokyo-based firm Wonderfall. While fashionistas are waiting with bated breath to see what the new store concept could entail it won’t be anything revolutionary. The brand intends to stick to their core concepts, with the intention of reinventing ideas like the denim wall to make them more updated and modern.

Sometimes it is best to stick with what you know, which is why Diesel is looking to do more of an update than a complete deviation from what they have done in the past. While the denim business has not been at its most supreme lately, Diesel hopes to keep its brand strong by keeping it elevated. In addition to their store remodeling plans, Diesel also has plans to open 50 stores in China over the next three to five years. The company is also looking to expand in Australia as well.

In 2013, their total revenue was over 1 billion dollars, and while denim might be struggling with the growth in their number of stores they could easily surpass that this year. Under Formichetti, Diesel is entering a whole new era while still sticking true to its roots.





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