The Mystery Mogul Behind Off-White
In the ever-competitive realm of luxury streetwear, few names resonate as powerfully as Off-White. Founded by Virgil Abloh, the brand has become a cultural phenomenon, synonymous with high-end fashion and street aesthetics. Behind this success story lies a less visible yet equally pivotal figure: Davide De Giglio, the co-founder and CEO of New Guards Group (NGG), the Milanese holding company responsible for Off-White and a plethora of other hyped streetwear brands, such as Palm Angels, County of Milan, and Heron Preston. In his first-ever interview, De Giglio reveals the strategies and insights that have made NGG a powerhouse in the fashion industry, projecting a staggering €420 million in sales for the year.
New Guards Group was founded in 2015, and its meteoric rise can be attributed to its innovative business model, which combines the distinct worlds of luxury fashion and streetwear. Unlike traditional fashion houses that often take years to establish themselves, NGG has capitalized on the existing popularity of street culture, leveraging social media and influencer marketing to create instant recognition and demand. De Giglio’s understanding of the digital landscape has been crucial in positioning NGG and its brands in the minds of consumers, particularly millennials and Gen Z.
One of the core elements of NGG’s success is its focus on collaboration and community. De Giglio emphasizes the importance of building a brand that resonates with its audience. “Fashion isn’t just about clothes; it’s about creating a lifestyle,” he states. This philosophy is reflected in collaborations with a variety of artists, musicians, and influencers, which help to maintain the brand’s relevance and appeal. For instance, Off-White’s collaboration with Nike turned heads and solidified the brand’s status in both streetwear and athletic fashion. Such partnerships not only boost visibility but also foster a sense of belonging among consumers who identify with the brand’s ethos.
The operational model of NGG also sets it apart. By controlling the entire supply chain from design to distribution, the company ensures that it can respond swiftly to market trends and consumer demands. This agility allows NGG to release limited-edition products that create a sense of urgency among consumers, driving sales and enhancing brand desirability. The limited drops and scarcity principle have been effectively utilized by Off-White, making its products highly coveted and often selling out within minutes.
Financially, NGG’s strategy has proven to be a winner. With a projected €420 million in sales this year, De Giglio demonstrates that combining creativity with sound business acumen can yield impressive results. This revenue stream is not just a result of Off-White but is bolstered by the collective strength of all brands under NGG’s umbrella. Brands like Palm Angels and Heron Preston have their own unique identities and customer bases, contributing significantly to the overall profitability of the company.
De Giglio attributes part of NGG’s success to its ability to pivot quickly in response to the shifting landscape of fashion. The COVID-19 pandemic forced many retailers to reevaluate their operations and marketing strategies. NGG was no exception. During this period, the company doubled down on e-commerce, recognizing that digital shopping was here to stay. By enhancing their online presence and investing in technology, they have ensured that they remain at the forefront of the industry.
Moreover, the brand’s commitment to sustainability cannot be overlooked. As consumers become increasingly aware of the environmental impact of their purchases, brands under NGG are taking steps to address these concerns. Initiatives aimed at reducing waste and sourcing materials responsibly are becoming more prominent. For instance, NGG has explored eco-friendly fabrics and sustainable production methods, aligning with a growing consumer demand for ethical fashion.
The global reach of NGG’s brands also plays a significant role in their success. By appealing to international markets, the company has positioned itself to tap into diverse consumer bases. De Giglio recognizes that fashion is a universal language, and NGG’s brands speak to different cultures while maintaining a cohesive identity. This global approach is key to their strategy, as it allows them to harness the power of cultural exchange in fashion.
As the fashion landscape continues to evolve, Davide De Giglio remains a figure shrouded in mystery, yet his impact is undeniable. The success of New Guards Group and its brands exemplifies how innovation, collaboration, and a deep understanding of consumer culture can lead to remarkable achievements in the retail sector. With a keen eye on the future, De Giglio is poised to navigate the challenges and opportunities that lie ahead, ensuring that NGG remains a formidable player in the world of luxury streetwear.
In conclusion, the story of Davide De Giglio and New Guards Group is one of strategic brilliance and a commitment to excellence. As Off-White and its sister brands continue to thrive, they serve as a case study for aspiring entrepreneurs and established brands alike, illustrating the importance of adaptability, community, and a forward-thinking approach in the ever-changing landscape of fashion.
#OffWhite #Streetwear #LuxuryFashion #NewGuardsGroup #DavideDeGiglio