UK general manager says like-for-like growth will surpass 2013.
Jewellery brand Carat* has reported on a positive start to the year, with the expectation that it will surpass its 2013 growth rate with new wholesale account openings and new standalone stores in the pipeline.
The brand recently showcased fresh designs in its Chelsea and new Power Pearls collections at Jewellery & Watch Birmingham, where it reported meeting a record number of new and existing customers.
From feedback gleaned at the show, along with "strong orders" placed, the brand is now anticipating a bumper year in the UK, with its head of UK wholesale Chris Moses describing the positive impact of shop-in-shop openings and new lines.
Moses said: "On the back of triple digit like for like Christmas sales growth, this year’s [Jewellery & Watch Birmingam] has been the most successful to date for Carat*. We continue to attract quality new business with prospective partners matching our brands aspirations. Our existing customers have also been impressed with the new product lines.
"The new Power Pearl Collection has received very strong opening orders. I fully expect 2014 to surpass 2013’s incredible growth, with our high quality store in store furniture concepts with key partners continuing to be a focus. Our recent shop-in-shop concept with Hugh Rice and Matthew Stephens is an example of the tremendous success that we’ve had with these type of partnerships with our key retail partners."
Carat* opened seven new stores and concessions in 2013, covering the UK, Hong Kong and Shanghai. It now plans to replicate this growth with seven further store openings in Beijing, Shanghai, Hong Kong and London in 2014.
Carat* UK general manager Janet Jokat said: "Feedback from existing wholesale partners at [Jewellery & Watch Birmingham] with regards to their sell through and desire to expand the range has been exceptional. Based on the interest shown by new partners wanting to stock Carat* we will exceed our wholesale expectations. Along with the current like for like growth and our plans to expand the retail footprint, it is going to be a very busy year for us indeed."
At present the brand is sold through 33 independent jewellers and department stores in the UK, with more than 150 stockists worldwide.