Moleskine
Moleskine is an iconic, inspirational brand born from the heritage of a legendary notebook. Its purpose is to unleash the human genius through hands on paper to empower creativity and knowledge in each individual and the entire world.
Moleskine is based in Italy, Milano, and has offices in Köln, New York, Hong Kong, Shanghai and Tokyo. The company sells its products globally through a multichannel strategy (Wholesale, Retail, E-commerce and Strategic Partnerships – former B2B).
The product portfolio goes beyond the original notebooks to encompass planners, writing instruments, bags, reading accessories etc. Moleskine bridges the gap between analogue and digital note-taking with it’s Smart Writing System a hybrid, digital notetaking device and manages a digital ecosystem of apps, digital platform, online publications, etc.
Investment Case – Our Journey with Moleskine
Since the acquisition, D’Ieteren Group has supported Moleskine’s management team in pursuing multiple paths of growth:
- Combine a strategy of growth from the core (remaining the market leader and trendsetter in notebooks) while growing through adjacent product categories such as writing materials, smart writing systems, bags, eyewear etc;
- Strengthen the B2B channels to attract more corporate clients;
- Increase proximity to customers through development of local products and increasing local presence in all channels.
The multiple tracks of growth have resulted in double digit growth rates the first years. However, the decline in brick and mortar shopping, together with a volatile B2B channel, have resulted in revenues slowing down in 2019 and an increasing pressure on margins, exacerbated in 2020 due to the Covid-19 crisis.
In April 2020, D’Ieteren Group appointed a new CEO, Mrs Daniela Riccardi (former CEO of Diesel and Baccarat). Since then, the implementation of the 'fewer, bigger, better' strategy started to bear fruits and the company returned to a profitable growth path.
Developing Moleskine for continued profitable growth through simplification and reinvention
D’Ieteren Group is collaborating closely with Moleskine's leadership team to pursue the strategy and bring the company to its full potential on multiple dimensions:
- Reinvigorate the brand and inspire new generations;
- Pursue the omnichannel strategy with focus on the best partners for growth;
- Enhance the direct-to-customer model with increased traffic on the new e-commerce platform and a new retail concept;
- Intensify the relationship with Moleskine end-customer through deployment of CRM best practices and systems;
- Continue to focus on both high margin evergreens and innovative products in the product portfolio;
- Adapt the company’s structure, culture and incentive model to create a lean and high-performing organisation;
- Pursue a smart spending policy throughout the organization to support margins;
- Put ESG at the heart of the strategy and assure non-financial targets are met across all stakeholders;
- Continuously examine strategic partnerships and monitor the competitive landscape.
