Watch brand planning to more than double UK market share.
Watch brand Frederique Constant is expecting a record year’s trading in 2010, according to Frederique Constant chief executive Peter Stas.
Stas told Professional Jeweller that turnover in 2010 to date has been up 40 percent on 2009 and up on 2008’s comparatives by between 15 percent and 20 percent. He added that the brand had noticed “big growth” at international trade show BaselWorld in March.
Stas said: “Since Fall last year we have had very good results and this has continued.”
Frederique Constant is planning to build its presence in the UK this year. At present the UK market accounts for less than 0.5 percent of the watch brand’s business but Stas is planning to grow this to 3 percent within three to five years.
Stas said: “We’re serious about the UK market and we want to relaunch here like it’s a new market for us.”
As part of its UK growth strategy the brand has taken on a new distributor, Argento Fine Products, and a new PR company, Nem3sis. “We need good partners on the ground to deal with retailers and press,” said Stas.
Stas said that the recession has helped to open more doors for Frederique Constant as high-end jewellers struggling to sell luxury watches have turned to the brand as a more affordable option for price-conscious shoppers. Stas said that going forward the brand plans to target multiple retailers in the UK as well as growing its base of independent retail stockists.