Milan‑based Borsalino, the 169‑year‑old hat house famed for Humphrey Bogart’s Casablanca fedora, will open its first permanent outlet in Shanghai’s premier luxury mall this summer after a pop‑up debut earlier this month. CEO Mauro Baglietto says China now warrants a disciplined approach, targeting four new stores by year‑end. The store sits beside Burberry and Chanel flagships, underscoring Borsalino’s bid to sit with global luxury icons.

The brand produces about 300,000 hats annually and still hand‑crafts its signature Panama styles. After a 2017 bankruptcy, Swiss private‑equity firm Haeres Equita rescued Borsalino for €18 mn, prompting a broader revival that now includes leather bags and silk accessories. Analysts note China’s luxury sector has been bruised, with average sales slipping 10‑15 % last year.

Luxury players such as Gucci have felt the slowdown, yet top‑tier houses like Louis Vuitton are seeing modest rebounds, helped by a ship‑shaped Shanghai store that lifted LVMH’s China revenue by 7 % in Q3 2025. Borsalino’s cautious rollout reflects a market split between heritage brands that attract discerning buyers and mid‑range labels still battling muted demand in China.