At the beginning there used to be 13 stores located in the major Italian cities but the main one is the one of Milan. “La Rinascente” had always been one of the most profitable Italian retailer but from the start of the new millennium it had got several financial problems with a decrease of revenues until 2005, year in which it was taken over by some important companies such as Investitori Associati, Pirelli Real Estate, Deutsche Bank and “la Famiglia Borletti”.
The companies made a reorganization of this retailer that had taken it to recover its difficult situation giving to the department store a total revenues of 365,5 millions of Euro and increasing also the levels of direct and indirect occupation.
The companies made a strategic positioning, which impacted on the dealer with infrastructure changes, lay-out revisions of sales planning, a change of the goods and services offered to the client, with the goal to position the flagship store at the level of the international department stores.
Its RVP consists of selection. In this department store there is an incredible range of brands that give to people the possibility to choose between so many different products that include clothing, perfumes, household products and jewelleries, without going into every single store split in the city we can say that its RVP consist also on convenience. For people it’s more convenient to go into “La Rinascente” because they can find whatever they need in a single place. The retailer also care for high-quality products based on the fact that the company always chooses brands between a large number, trying to have the best ones on the store.
The introduction of prestigious brands like Gucci, Hugo Boss, Giorgio Armani and Dolce&Gabbana with their concessions, brought their know-how to the exposition and sales of the products belonging to the target of “accessible luxuries”.
The repositioning of “La Rinascente” brought also to the closing of some of the 13 stores, focusing all their efforts on the one of Milan.
In 2008 the company decided to start the restructure of the eight floor of “La Rinascente” of Milan, a floor used for conferences and administrative activities. In place of all these offices they opened a wellness lounge for the public: this big investment represents another demonstration of how the company wants to offer to its costumers a wide range of services. The starting of this wellness area is just another step the retailer is doing to complete and riqualify the services after the creation of a food market and catering with restaurants that overview on the big church of Milan on the seventh floor of the building and the opening of one of the most famous hairdressers of Italy, Aldo Coppola.
All these introductions made “La Rinascente” becoming not just a place to go shopping but also a place in which you can relax and feel entertained and thanks to this repositioning for “La Rinascente” it has started a real re-birth..