170. retail-world


Brand Boutiques - PROS AND CONS: BTC

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September 2013




Watch brands of all sizes continue to open up monobrand boutiques around the world. Europa Star investigates this trend and talks to opinion leaders on both sides of the issue.

Ayman Nassif, president, BTC (Egypt):

“PR plays an enormous role in proliferation of the brand. A brand boutique creates the brand personality, mystique and emotional values. I think in the short term, sales may decrease in retailers’ shops, that’s why for retailers to remain in competition, they must buy large quantities to maintain their margins and to always have stock like the boutique. The independent retailers benefit from the advertising and PR that the boutiques do for the brand.

Ayman Nassif
Ayman Nassif

“It can still help to carry a brand that has its own boutique. For example, here in Egypt, we have a Tissot monobrand boutique and next to it our retail shop BTC, which carries Tissot, and in front is another retail shop that carries Tissot as well. We all sell well. “An independent retailer can make offers and discounts on the prices of watches which will attract the customer, or to do some offers or liquidation in order to finish old stock. But in a boutique there are rules that you have to follow.

Tissot Boutique, Sun Stars Mall, Egypt
Tissot Boutique, Sun Stars Mall, Egypt

“Independent retailers have a lot of choices for customers, but for the boutique if customers don’t find what they want they won’t buy anything. “I believe that big brand watches will only be available in their own boutiques in the future.”

Brand Boutiques - Pros and Cons

Introduction

Patrik Hoffmann, president, Ulysse Nardin

Larry Pettinelli, president, Patek Philippe North America

Ehren Bragg, Managing Director, Devon

Marc Gläser, president, Maurice Lacroix

Thomas Morf

Greg Simonian, president of Westime (Los Angeles, USA)

Jeremy Oster, co-owner, Oster Jewelers (Colorado, USA)

Alon Ben Joseph, CEO, Ace Jewelers Group (Amsterdam, the Netherlands)

Source: Europa Star August - September 2013 Magazine Issue