moleskine-ipo-report-04-03-2013-mediobanca

Moleskine
d) Distribution network
Moleskine products are distributed through a multi-channel distribution strategy aimed at reaching a
wide customer base. The distribution channels are the following:
Indirect channel
B2C, contributing 78% of 2012 revenues, consists of both a direct relationship with key accounts
and 51 distributors covering 92 countries. At the end of 2012 the group’s customer base consists of
23,575 doors, which include bookstores (accounting for some 40% of B2C sales in 2012),
stationery stores and online (3 rd party) for some 10% each, and department stores for approx. 8%.
Direct channel
B2B (16%) consisting of customized Moleskine products sold to companies, institutions, etc.,
which use them as part of their PR activities. At the end of 2012 the group customers totalled
1,183.
Retail (2% ) consisting of 4 DOS in China (opened from 2011) and 5 stores in Italy (Milan, 2 in
Rome, Naples and Turin);
E-commerce (4%) launched in Italy in July 2010, in Europe and US in 2011.
MOLESKINE: Revenues breakdown by channel (2012) MOLESKINE: Revenues trend by channel (2009-12)
E-COMMERCE
4%
RETAIL
2%
Source: company data
B2B
16%
B2C
78%
90
80
70
60
50
40
30
20
10
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0
40.8
13%
87%
53.4
16%
84%
67.3
2%
16%
82%
2%
4%
2009 2010 2011 2012
B2C B2B E-commerce Retail
78.1
16%
78%
IPO
04 March 2013 ◆ 20