French luxury skiwear brand Fusalp faced significant challenges during the 2020-21 fiscal year due to the Covid-19 pandemic and related closures and lockdowns. As a result, the brand saw a decline in sales by 12%. However, Fusalp managed to bounce back in 2021-22, thanks to its strong international presence, strategic decisions, and a focus on direct sales and digital visibility.

To mitigate the impact of the crisis, Fusalp concentrated on refining its product offering in its 48 retail stores globally and enhancing its digital presence. The brand also streamlined its network of retailers, aligning with its new luxury ready-to-wear positioning by reducing the number from 400 to 300.

In terms of product innovation, Fusalp introduced a new Heritage collection that includes pieces suitable for everyday wear. It also collaborated with luxury fashion house Chloé to enhance brand awareness. Internally, Fusalp strengthened its teams by hiring technical, commercial, and product profiles, as well as a materials and innovation manager. The brand also established a digital department lab in Annecy.

As a result of these strategic decisions, Fusalp is experiencing positive results. Although challenges related to material supply and delivery dates persist, the brand is seeing a significant increase in activity for the current fiscal year. Fusalp expects to close the year with a turnover of approximately €40 million and a return to profitability.

The brand’s digital sales have grown by 60%, with direct sales now accounting for 80% of its business. E-commerce sales represent 12% of total sales, and when online sales from retailers such as Net-a-porter and MatchesFashion are included, the figure rises to 15%. Fusalp’s turnover doubled in December and tripled in January, demonstrating its strong performance.

Fusalp’s strength lies in its ability to create aesthetically pleasing skiwear that is also suitable for everyday use. The brand’s fusion of style and functionality resonates with consumers, and its ready-to-wear products have become top sellers. Fusalp has a presence in 12 mountain resorts in France and operates 18 boutiques in Paris, Marseille, Toulon, and Biarritz. It plans to expand its store areas from 75 to nearly 200 square meters.

Internationally, Fusalp’s sales contribute to 50% of its business. The brand recently entered the Asian market during the Winter Olympics in Korea and is currently present at the Olympics in Beijing. Fusalp has seven international subsidiaries and aims to establish a presence in the United States by opening stores in ski resorts and major cities.

Looking forward, Fusalp has exciting plans for its upcoming 70th anniversary, including collaborations and a potential expansion of its presence in Fashion Weeks. However, the brand acknowledges the need to consider the right timing for such ventures. Nonetheless, Fusalp remains committed to its vision of creating high-quality and fashionable skiwear that can be worn in various settings.

Links:
Fusalp official website
Vogue Business article on Fusalp’s resilience