“The recovery is still a little sluggish, especially in Paris, which has not recovered its traffic levels. The situation is however better in the provinces”, explains Nathalie Wu, who founded Nat & Nin in 2005 with her sister Ninny Heide . Loyal to the Porte de Versailles shows, the leather goods label was therefore present at the last edition of the Who’s Next show, which took place from September 3 to 6 after almost two years of absence. An almost unavoidable event for the brand, discreet on the numbers, which has nearly 200 resellers and achieves more than 80% of its sales in France.
With the closure of stores, the coronavirus health crisis did not spare Nat & Nin. To counter this unprecedented moment, the brand founded fifteen years ago has therefore focused on the digital aspect: “During the first confinement, we launched outlet sales, for example on our merchant site”, indicates Ninny Heide. , noting that although Nat & Nin’s online sales, which now represent 20% of overall sales, have grown, this has not offset the drop in revenue.
The family company, which since its inception has met with great success thanks to its trendy bags at affordable prices, however did not wish to have recourse to the PGE, preferring to weather the turbulence with its own funds.
To boost its growth more strongly, Nat & Nin, which also has four own stores, including three in Paris, wants in particular to accelerate its export establishment. This international presence could in particular involve marketplaces. “In France, we are already on the sites of La Redoute, Sarenza or even the Galeries Lafayette, so for the moment I do not see the point of being on the marketplaces, but abroad the situation is different . I am thinking of setting up on a site like Farfetch “, explains Nathalie Wu.
Another growth driver for Nat & Nin is the redeployment of its line of shoes. A collection launched in spring 2019 but whose good performance was cut off by the crisis. “Our shoes are made in Brazil and with the confinements, the situation was complex so there will be no new products this winter and next summer, but we will come back afterwards,” said Nathalie Wu.
The two sisters, who come from a family of leatherworkers and have been working with the same manufacturing workshop in China for ten years, also hope that the sea freight situation improves quickly. The crisis, aggravated by the accident in the Suez Canal, having, according to them, increased the cost of transport by 8 to 10%. A situation highlighted by many brands, which weighs on margins but which, to date, has not been reflected in selling prices.
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