process of rolling out Hugo Lacoste
and Tommy shop-in-shops in H.
Samuel. East London shopping
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running and doing really well, as is
Arndale in Manchester. We opened
one in Milton Keynes two weeks
ago and there was in excess of a
huge increase in sales for Tommy
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works, and H. Samuel likes how the
activity attracts younger customers,
millennial customers. The right shop-
in-shop can contribute to keeping
stores open, which in the current
market conditions is a big deal. They
are great for us because we can tell
the brand story in a much grander
way. We can run movies, etc. through
those installations.
We are in a fortunate place
because, as a global business, we
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at the moment, but we are seeing
growth for a lot of our brands and
we see the current climate as an
opportunity to grow market share.WatchPro: If you have been
growing for 26 consecutive
quarters, you must have
been winning considerable
percentages of market share
from your competitors.
Steve Brydon: We are. We study
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because we have to understand the
impact of what we are doing and our
competitors are doing. We need to
always react to that. The market as
a whole under £500 is roughly 12%
down year-on-year at the moment.
That would be a much sharper
decline if it were not for some of our
most successful brands. Our hottest
brands are not just growing, they are
growing at 40, 50, 60%.
In addition, we have jewellery
from many of our brands, which is
an opportunity to grow them even
more. We try to portray a lifestyle
image, rather than a fashion brand
image. Once we add jewellery, that
will push us further forward. Tommy
jewellery is being added at the
moment, which is very successful. It
is a great incremental, add-on-sale;and a relatively easy add-on from
what our retailers report.
We help retailers with this. So,
when you see Tommy photography,
it will always include a watch and
bracelet or some other jewellery.
The new Boss jewellery collection is
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to launch it in spring next year. That
is really exciting because it is such a
big brand. If we see the same level
of turnover as we do with Tommy
jewellery, compared to the brand’s
watches, Boss jewellery will be very
successful.WatchPro: Are you doing men’s
and women’s jewellery for Boss?
Steve Brydon: It is both. We need to
make sure that women’s jewellery
is designed by women, for women.
It needs to be feminine. The men’s
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for men. It is relatively easy for us to
get this moving because of being
part of the global Movado Group
organisation. They have done much
of the leg work on other brands and
we can tailor that for our market.
We trialled jewellery a little over
the past two years with gift sets
containing a watch and a bracelet, for
example. We have sold over 15,sell watches to retailers that that
was that. You have to be working
in partnership, promoting those
watches to customers, and we have
to be sophisticated enough so that
we can come up with different
approaches for different brands and
different customers.
WatchPro: The focus is very much
on sell-through rather than sell-in.
Steve Brydon: It has to be. We
have to make sure each collection
is clean, that each retailer has the
right products in stock. If [American
actress] Zendaya is your Tommy
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make sure that Zendaya watches are
front and centre of a store’s image
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global campaign across all Tommy’s
product categories. We have to
make sure our watches are part of
that global story, and it works very
well with us.
We have to watch for changes
in the market because how we
advertise to customers for a brand
like Tommy has been transformed.
Print has largely gone. That does
not mean that the great print titles
are irrelevant. WatchPro is a great
example of a magazine title that
everybody reads online. Coming into
London on a train today, there was
barely a person on my carriage that
was not staring at a mobile phone or
tablet screen.
WatchPro: How do you use global
and local social media, celebrities
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Steve Brydon: Our marketing falls
into two main categories. There is
stuff we do to make sure we are
telling stories within stores. For us,
while the web is important and is
around 30% of all sales now, we must
not forget that 70% of sales are still
made in stores. We have to protect
and nurture that business because
it also gives us great visibility on the
high street and shopping centres.
WatchPro: Do you have any stats
on how effective those in-store
promotion can be?
Steve Brydon: We are in the
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2010-11 2011-12 2012-13 2013-14 2015-16 2016-17 2017-18*2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18*2014-MOVADO GROUP UK / THE BIG INTERVIEW
watchpro.com / AUGUST 2019 / WATCHPRO 19
Movado Group UK Limited turnover (£m)£
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