Fashion
Eleventy: Revenue at €127 million, Chicago store opening imminent, push in the US and Asia
Published
January 20, 2026
From its elegantly appointed 1,000-square-metre showroom at 11 Via Uberto Visconti di Modrone in Milan, which showcases the brand’s entire universe, high-end clothing and accessories label Eleventy presented its Autumn-Winter 2026/27 collection, marked by colours new to the house, an expanded assortment—especially in footwear—and the use of new raw materials such as vicuña, as revenue stabilises and new store openings are readied, starting in Chicago.
“It’s an important year for us, one in which we wanted to reinvent ourselves, because we believe it’s right to go back to being special,” Marco Baldassari, who continues to lead the brand he owns as CEO, tells FashionNetwork.com. “We had certainly spent many years operating in our comfort zone, with light colours, which by now are no longer distinctive. So we wanted to introduce new, more sophisticated, darker colours and silhouettes that are new to us, to differentiate ourselves once again from what the market offers.”
“The inspiration for the collection,” Eleventy’s CEO continues, “begins with an inner journey of reconnection with nature, which becomes our stage.”
Brown, therefore, assumes a central role in Eleventy’s wardrobe, as do very deep, almost black greys—like the winter sky—alongside forest greens and burgundy.
“This change has been noticed and, I must say, warmly received by buyers, also because I think it’s right to rekindle the desire of a consumer who perhaps had found the market a bit flat, lacking truly new propositions, where everything seems interchangeable,” the entrepreneur notes.
“It’s one of the contributing factors to this global downturn in fashion and luxury sales. More than tariffs, which in my view have somewhat distracted from the real issue—the strengthening of the euro, alongside the weakening of the yen and the dollar—pricing has certainly played a part, and in many cases the end consumer has not found it justified. With a very balanced price-to-quality proposition, Eleventy has not been particularly affected by this phenomenon. I hope this new collection of ours will reignite a great deal of desire, because we have completely reinvented ourselves, including in terms of fit and aesthetic.”
Eleventy, which in late 2025 opened its first flagship in Lisbon, will continue its programme of monobrand openings in 2026. The most significant will be in Chicago, in the United States.
“The U.S. is our most important market, thanks also to the mentality of the American consumer, who tends to spend more and is more inclined to purchase than the European customer,” Baldassari observes.
Eleventy currently employs 200 people and has 18 monobrand stores managed directly from headquarters, plus 22 with franchise partners, for a total of 40 monobrand stores. In the multibrand channel, the Milan-based label is carried in around 300 carefully selected doors worldwide.
“To be special, and thereby sell a quality product, you also have to be more selective in distribution, sometimes sacrificing opportunities in favour of a longer-term vision,” the CEO said.
The womenswear collection is growing within Eleventy’s business; today it accounts for 25 per cent of revenue, with turnover rising to 127 million euros from approximately 100 million in 2024 (it was 43 million euros in 2022 and 65 million in 2023, ed.), with 18 per cent generated in Italy and 82 per cent abroad. After the US comes the Middle East, Europe overall, and Asia, where Baldassari highlights South Korea and Japan as growth markets, while China remains to be defined.
The agreement between the European Union and Mercosur to further liberalise trade between them “is certainly a new opportunity that we will not fail to evaluate with great attention and interest,” said the founder, in the presence of Gianmarco Tamberi, who has officially become Eleventy’s new brand ambassador.
“The choice of Gianmarco Tamberi is due to two fundamental reasons. First, we are Italian and we want to bring Italy to the world, which an athlete like him represents excellently. Second, the alignment of our respective values: to achieve the results we have, we have made many sacrifices, with hard work, consistency, commitment and discipline. These are all elements that unite our paths,” the founder continued.
Since in recent years fashion has first seen the rise of tennis-inspired style and then that of skiing (preceded about fifteen years earlier by golfwear and polowear), can athleticwear be trendy in the coming years as well?
In other words, will athletics succeed in conveying its values to the general public, as it has almost never managed to do in the past? “Achieving results certainly helps to spur similar developments,” Tamberi replies.
“We were coming out of a period (from around 2000 to 2015) when athletics had a huge void of champions in Italy. Now something has shifted, especially since the Tokyo 2020 Olympics, after the famous five gold medals we managed to bring home. Results can allow the personalities who achieve them to emerge; otherwise it’s difficult to bring a movement to public attention. Today, many young people in athletics are coming through,” explains the high jumper, who in his discipline has won at least once everything there was to win, having been Olympic champion at the Tokyo 2020 Games, world champion in Budapest 2023, world indoor champion in Portland in 2016, and three-time European champion (2016, 2022, 2024), not to mention victories at the European Indoors and two Diamond League finals reached.
“The collaboration with Eleventy came about very naturally, as we share similar values,” confirms the Ancona-born athlete. “For a few years I had the honour of being a Giorgio Armani ambassador, whom I take this opportunity to thank and acknowledge. When that partnership ended, several companies came forward to have me as a testimonial, but I couldn’t find any that resonated with me and with what I want to represent and communicate. Then Marco Baldassari got in touch. And everything clicked into place naturally.”
Founded in Milan in 2007 by Marco Baldassari and Paolo Zuntini, joined in 2009 by Andrea Scuderi, and now majority controlled (65 per cent) by the Fashion Cube fund—a holding company composed of the VEI Capital fund and a Gulf financial group that controls all the sales networks of the high-end apparel and accessories company—Eleventy works exclusively with natural Italian materials and 100% made in Italy production. Present in more than 30 countries, it also has directly operated stores in cities such as Milan, New York, Paris, Tokyo, Seoul and Dubai.
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The company’s net sales rose 7 per cent year on year (YoY) to €1,745.9 million (~$2.06 billion) in FY25 ended January 31, 2026. Excluding Goldenpoint, sales growth stood at 2.9 per cent, significantly outperforming the reference market, which expanded by just 0.3 per cent during the period. Directly operated stores generated €1,431.3 million in revenue, up 8.2 per cent YoY, while franchising and B2B channels contributed €314.7 million.
OVS has posted record FY25 sales of €1,745.9 million (~$2.06 billion), up 7 per cent YoY, driven by like-for-like growth and Goldenpoint consolidation.
Adjusted gross margin rose 8.8 per cent, while net profit increased 14.8 per cent.
Key brands delivered solid EBITDA gains.
Womenswear and beauty led growth, with early FY26 performance remaining strong on robust collection demand.
The group delivered strong improvements across key financial metrics. Adjusted gross margin rose to €1,033 million, up 8.8 per cent YoY, with margin expanding to 59.2 per cent. Adjusted net profit was €89.4 million, an increase of 14.8 per cent YoY.
At the brand level, OVS reported EBITDA of €172.6 million, up €9.8 million YoY, while Upim recorded €44.0 million, compared with €40.1 million in 2024. Stefanel also delivered improved performance, with EBITDA rising by around €4 million. Goldenpoint contributed €3.9 million to EBITDA during its seven-month consolidation period, OVS said in a press release.
“2025 was a year of excellent results, with growth across all the main banners and brands. This performance confirms the validity of a positioning based on quality, stylistic research, and sustainability, which have elevated the perceived value of the brands, effectively intercepting a growing demand for quality products at affordable prices,” said Stefano Beraldo, CEO of OVS.
He added that the group continued to strengthen its brand portfolio, including the launch of Les Copains and extensions of the PIOMBO line, alongside the expansion of Altavia, B Angel, and Utopja. Womenswear and beauty remained standout categories, with the latter supported by Shaka stand-alone stores, now operating 10 locations.
“Another fundamental pillar remains the constant enhancement of the stores, in a context where offline is regaining centrality in customer preferences,” added Beraldo, highlighting investments in store design and customer experience.
Goldenpoint delivered sales growth of around 10 per cent during its initial consolidation phase, supported by product updates and store modernisation, along with purchasing synergies that improved margins.
“The internationalisation strategy of OVS is accelerating, supported by a solid financial position and the success of the womenswear offering. Expansion into the most promising markets is planned for 2026,” Beraldo said.
The 2026 financial year is showing significant growth compared to 2025 thanks to the very positive reception of the new collections, added the release.
Fibre2Fashion News Desk (SG)
As pressure grows to decarbonise and modernise, countries face a dual challenge: reducing emissions while maintaining efficiency and competitiveness.
UNCTAD and the Maritime and Port Authority of Singapore have launched a partnership to accelerate the transition towards more sustainable, resilient and inclusive global maritime transport.
Both sides will promote cleaner fuels and digital technologies across ports and shipping networks.
A key pillar is support, including training, advisory services and institutional strengthening, for developing nations.
Singapore’s role as one of the world’s most connected and efficient ports positions it as a key partner in testing and scaling innovations, said UNCTAD, which complements this with global reach, policy expertise and on-the-ground support to developing countries.
Under the agreement, the partners will promote cleaner fuels and digital technologies across ports and shipping networks.
Efforts will focus on solutions that can be adapted to different national contexts, alongside knowledge-sharing in sustainable finance, digital innovation and workforce development—key enablers of a successful transition.
“This partnership brings together Singapore’s operational excellence and UNCTAD’s global development expertise,” said Pedro Manuel Moreno, acting secretary general of UNCTAD, in a release.
“It will help accelerate a maritime transition that is not only greener and more efficient, but also resilient and inclusive—while contributing to global discussions at the UN Global Supply Chain Forum 2026,” he added.
A central pillar of the initiative is support, including training, advisory services and institutional strengthening, for developing countries.
Building on UNCTAD’s long-standing work with port communities, the partnership will help improve performance, strengthen connectivity and enhance preparedness for disruptions.
The initiative will also feed into preparations for the UN Global Supply Chain Forum taking place in late 2026, where global stakeholders will address the future of trade logistics and resilience.
Fibre2Fashion News Desk (DS)
The committee will serve as a forum for expert advice on trade, investment, labour and economic strategy, and will be chaired by Dominic LeBlanc, minister responsible for Canada-US Trade, Intergovernmental Affairs, Internal Trade and One Canadian Economy. It includes leaders from across key sectors of the Canadian economy and will hold its first meeting on April 27, 2026.
Canada has formed a new advisory committee to guide its economic strategy with the United States ahead of the Canada-United States-Mexico Agreement (CUSMA) review.
With 85 per cent of trade remaining tariff-free, the move aims to deepen collaboration, safeguard market access and better position Canada for upcoming negotiations and evolving trade dynamics.
Carney announced members including Jean Simard, Candace Laing, Darryl White, Lisa Raitt, Tracy Robinson, Flavio Volpe, Ron Bedard, Ken Seitz, Dennis Darby, Lana Payne, Francois Poirier, Emile Cordeau, Luc Theriault, Magali Picard, Jonathan Price, Susan Yurkovich, Michael Harvey, Tabatha Bull, Cameron Bailey, Valerie Beaudoin, Erin O’Toole, Jean Charest, P.J. Akeeagok and Ralph Goodale.
The initiative replaces the former Council on Canada-US relations and aims to strengthen engagement with business and labour stakeholders while positioning Canada for future negotiations.
“Canada is approaching its economic relationship with the US with focus, discipline and unity. This new Advisory Committee ensures that government is drawing on the best advice and the broadest perspectives to advance Canada’s economic interests. Our goal is a strong economic partnership with the US that creates greater certainty, security and prosperity for all,” Carney said.
“Canada is strongest when governments, workers, businesses and industry leaders pull in the same direction. This Advisory Committee will help us stay closely connected to key sector perspectives, support effective outreach and strengthen Canada’s position as we establish a new economic and security relationship with the US,” LeBlanc added.
Canada-US trade remains a cornerstone of North America’s economy. In 2024, both countries exchanged nearly $3.6 billion in goods and services daily. Together with Mexico, the three countries represent a market of 517 million consumers with a combined GDP of $48.8 trillion. Since CUSMA came into force on July 1, 2020, bilateral trade has increased by more than 27 per cent, or $196 billion.
CUSMA, which is in force until 2036, will undergo a mandatory joint review on July 1, 2026. Member countries will decide by consensus on potential updates or an extension for another 16 years. If no agreement is reached, annual reviews will continue until consensus is achieved or the agreement expires.
Fibre2Fashion News Desk (CG)
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