Italian fashion jewellery brand TI SENTO – Milano will be launching a Partnership Programme in the UK this year as part of its plans for growth.
The Partnership Programme is based on working with retail partners to stock the right products in the right place.
The programme, which has been tried and tested in other markets and seen significant growth in stores, will primarily see the brand work with retailer partners on replenishing stock. TI SENTO – Milano will also support partners with monthly merchandising planograms in line with its commercial retail calendar, and help clients with returns.
TI SENTO – Milano managing director, Arjan Van Zuylen, explains: “In partnership, we as well as our retailer partners take a shared entrepreneurial risk.”
“We have tested and optimised this Partnership Programme with multiple customers in various locations over the last two years. The outcome has invariably been a significant growth of store turnover – up to 40% growth – with a decrease in stock position at the same time! We are now ready to start this programme in the UK.”
The Partnership Programme is part of TI SENTO’s strategy to increase the business by professionalising together with its clients.
The brand has been analysing how bigger businesses such as supermarket manager their business, and has worked on a programme which is focused on branding and assortment planning.
“If we can put our brand with the right image and right assortment, in the right place, and make sure that we manage the assortment together, then we have a better understanding of what sells. If we know what sells we don’t make so many mistakes and we can prevent each other from making mistakes.”
Through the Partnership Programme retailer partners are encouraged to share data, which will help the brand paint a wider picture of what is working well on a national and local level. TI SENTO then plans to replenish the business on a weekly basis.
Van Zuylen is very aware that for this to work, the programme needs to be built on trust. He says: “The client believing in this way of working is key. We help the client by selecting the assortment for them, our experience is that they will start seeing results and become believers pretty quickly. This results in more clients following.”
“We have different levels of assortment and it varies slightly per country, but generally the assortments are 80% the same, however we adapt based on the level of shop. We estimate an X amount of turnover and agree on this, together with a certain amount of stock. Ultimately, what we do within the programme is to manage their assortment and therefore the stock. We don’t supply you more than X, therefore you will never have more stock than X, we automatically supply newness (yet not too much, only what you can handle), and we focus mainly on replenishment of core assortment.” As you can imagine trust in each other is very important.
Practically this works through using e-systems for the brand to measure data. This is something the brand’s sales agents can set up and once in place is very easy to use.
Van Zuylen concludes: “It’s a Partnership Programme, so we want to be entrepreneurial together with our retailer partners.”