Davide Cenci turns 100 and its president is planning for a fourth generation

Davide Cenci, the family-owned Italian menswear house founded in Rome in 1926 by Davide Cenci, is marking its centennial. President David Cenci, the founder's grandson, is in New York this week for the celebration and says succession is the issue the family is spending most time on.

"In a family business, the transition from one generation to the next is key," Cenci said. The family's number-one concern is whether it can be around for another 100 years, and whether the younger generation sees the business as viable economically and personally rewarding.

One option is a transition with an outside manager, on the family's own terms, with relatives still on the board. Cenci called that the challenge over the next three to four years. He said the fourth generation is undecided or too young, and that January 2027 becomes the priority.

How the centennial is being marked

Loyal customers, family and friends gather on Thursday evening at the 3,000-square-foot Davide Cenci store at 1041 Madison Avenue. A second celebration follows on Oct. 22 at the 10,000-square-foot shop in Rome, the company's home city.

Both stores carry a retrospective of historic photos, ads, artwork and awards, and celebratory shopping bags have been developed. The company also has a store in Milan and a Davide Cenci Jr. children's store in Rome, which a cousin of the Cenci brothers runs.

Most merchandise is Davide Cenci private label, made almost entirely in Italian factories from fabrics from the Biella region, including Loro Piana, Zegna and Vitale Barberis Canonico. Made-to-measure is offered, with tailors in the Rome and New York stores, and women's fashions are sold too.

Some third-party brands are also stocked, among them Herno, Ralph Lauren and Barbour. In Rome in the 1950s and 1960s, Cenci's grandfather and father were among the first to import big British names including Burberry, Aquascutum and Ballantyne, which he cites as a hallmark of the business.

Trading by city

"These days the business is doing well," Cenci said. "New York is extremely good." The company is on pace to reach 9 million euros in Italy and $4.5 million in the US this year, with both locations running a healthy EBITDA thanks to good markups and a streamlined cost structure.

Rome is the soft spot. Shopping there has really slowed and business has been flat for two or three years, Cenci said, with inflation and salaries in Italy not as strong as in the US. Tailored clothing for weddings and ceremonies still drives the city's trade.

Milan suffered most during COVID-19 and took longest to rebound, but has grown strongly for two years. Cenci credited a store manager with lots of connections, whom the company finally found after a search.

What men buy has shifted. Few suits and ties sell now, offset by strength in casual clothing, particularly outerwear, cashmere sweaters and pants. The suits that do sell are mostly formal, with navy or light monochrome popular for summer, plus tuxedos. Ten years ago, chalk stripes and Glen plaid were popular.

Cenci still wears a tie every day and thinks people are sometimes too dressed down. "Flip-flops and shorts should be banned" on planes, he said, and the theatre or opera needs a dress code. "I think sometimes we have gone too far down the casual road."

Values, service and expansion ideas

Consistency is the key to longevity, Cenci said. His grandfather's advice was not to compromise on quality. Cenci avoids calling the result timeless style, because a brand must update or die, and prefers "sophisticated elegance", rooted in Italian and British tailoring traditions. The company sees itself as a team of style consultants.

On growth, Cenci named possible new stores in Miami, residential areas beyond downtown Rome, Spain and the Middle East, if conflicts there end. Another plan in motion would carve 1,000 to 2,000 square feet out of the Rome store for an experiential food and hospitality concept.

The company has relationships with a couple of Italian bakeries that make its branded panettone, and they also made branded cookies for the centennial. David Cenci handles US operations, marketing and the women's department. His brother Giacomo runs finance and the men's department, and a third brother, Tomaso, a lawyer, is on the board.

The next generation is not yet committed. Cenci has two children, Giacomo four and Tomaso two, aged 16 to 29. "The older ones haven't shown much interest in being hands-on," Cenci said. One daughter works in graphic design and comics in Los Angeles; another is doing an MBA and wants corporate experience first.

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Images: Davide Cenci; Courtesy of Davide Cenci