Thomas Sabo, founder of the eponymous jewellery brand, has said his focus for the UK market over the next 12 months is to ensure Thomas Sabo is presented as “best in class” across all of its channels.
Outside of the brand’s hometown, Germany, the UK is Thomas Sabo’s biggest market and one that continues to grow. While Mr Sabo did worry sales would fall after the UK’s decision to leave the European Union, he reveals this decision has not hurt the business so far.
However, the company is aware that the marketplace for branded jewellery has become much more challenging in the UK and for the wholesale arm of the business Thomas Sabo is now working on a customer segmentation programme.
“The focus is on quality points of sale, driving up the average transaction value of Thomas Sabo product lines and working with partners who share our vision of Thomas Sabo being an anchor brand in store and online,” Thomas Sabo founder, managing director and chairman, Mr Sabo reveals in an exclusive interview with Professional Jeweller. “This is and will continue to be a long term project and vision.”
The company wants to ensure sure it is working with the best partners to be able to drive the business forward.
For Thomas Sabo, this does not necessarily mean opening up lots of new accounts, but rather focusing on the retail partners who are committed to working with them and supporting the brand in store and online.
“I think for the industry it’s really challenging at the moment, especially in multi-brand stores,” Mr Sabo says. “It is really important to have the right customer segmentations there and it is really important for the markets to select the right product lines for their shops, and really maintain the collections very well.”
He continues: “Wholesale will be [over the next 12 months] driven through a customer segmentation programme that ensures each partner has a commercial and fully rounded approach to Thomas Sabo and that they present a focussed, but wide enough range, in line with our turnover and presentation expectation. We need to ensure the full story of what Thomas Sabo has to offer is being told across the UK. Similarly in digital we will look to online partners who enable us to reach core demographic customer groups and who again respect and add value to our brand ethos.”
For the company’s standalone concept stores Thomas Sabo will be looking for opportunities in locations the brand is currently underrepresented. Online, Thomas Sabo will be looking for online partners who enable the business to reach its core demographic customer groups, and who, once again, respect and add value to its brand ethos.
“The UK is our number one export market and we will be continuing to nurture this success through our retail and wholesale channels maintaining Thomas Sabo at the forefront of the design led branded jewellery sector in the UK.”