Borsalino has opened its second stand-alone store in Paris, a 160-square-foot unit at 24 rue Marbeuf steps from the Champs-Élysées, as the 169-year-old Italian hatmaker shifts its channel mix toward directly operated retail in China and, later, the United States.

The Paris opening follows a yearlong search for the right location. The store, designed with architect Nicola Quadri, adds to a Paris portfolio that includes a historic Left Bank address and two department store corners. The company describes this as a selective approach to physical retail rather than aggressive store-count growth.

"To open a store is quite expensive, and we want to be profitable, and so we tested different activities," said general manager Mauro Baglietto. "The monobrand store is also a way to have a direct relationship with customers and explain what the new Borsalino is, and how contemporary we are."

What is driving the direct-to-consumer push?

Backed by private equity firm Haeres Equita since 2018, Borsalino already runs five stores in Italian airports — two in Rome, two in Milan and one in Venice — and calls its travel retail business "super successful." Tourism now carries significant weight in the sales mix: foreign customers account for around 50 percent of sales at the brand's Milan stores, with U.S. shoppers the largest international customer group. Baglietto expects the tourist share at the new Paris boutique to be at least as high.

How big is the China bet?

China ranks among the company's main expansion priorities. After a six-month pop-up in Shanghai, Borsalino opened a permanent store at the Plaza 66 luxury shopping center in September. The reception has been "strong," particularly among younger consumers interested in the brand's history and manufacturing.

The company is now negotiating locations in Beijing and Shenzhen, targeting openings before the end of the year or in the first quarter of 2027. The customer profile there differs from the global average: in China, women make up 60 percent of customers, the reverse of the global split of roughly 60 percent men and 40 percent women.

"For us, it's not just about opening a store or entering a new market. It's about finding the right location, with the right target customer and the right size," said Baglietto.

How is the product mix changing?

Over the past five years Borsalino has expanded its women's range and developed less-structured styles. Fedoras and Panama hats remain the core, but baseball caps, beanies and packable designs have opened entry points for younger customers. The company has also launched fragrance — a men's and women's scent introduced a year ago — and handbags, now in their first full season with five models on offer in the Paris store. Sunglasses and footwear will follow in own-brand retail.

Even so, hats are expected to stay at about 90 percent of the business, Baglietto said.

The accessory positioning works in a challenged luxury market, he argued. "Accessories are much easier to buy right now than a suit or something more ready-to-wear," he said. "The customer right now is looking more for quality and value for money — and [put together, this is] all a very good position." A hand-made hat takes upward of 50 hours to produce, yet sits at a more accessible price point than tailored ready-to-wear.

When does the U.S. happen?

The U.S. remains a longer-term roadmap item. Recent pop-ups in Miami and Los Angeles were hits, and demand is there, according to Baglietto. New York City is "of course" on the radar, along with the Hamptons and Costa Mesa, Calif. But Borsalino does not expect to begin exploring permanent U.S. stores until 2028, meaning the near-term capital and sourcing attention stays fixed on China and the directly operated European network.