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July 25, 2014

Why US Still Trumps China in Personal Accessories Strategies

Sulabh MadhwalAnalyst Insight by Sulabh Madhwal - Personal Accessories and Eyewear Analyst

View Sulabh Madhwal's profile on LinkedIn

Owing to the emergence of several metropolitan cities and the subsequent appetite for luxury purchases in China, the country has been the undoubted growth driver of several accessories brands over the past five years. China overtook the US to become the largest personal accessories market by value sales in 2011, and since then has grown at a comprehensively faster pace. However, the US will continue to be the most influential market in the global strategies of most personal accessories players for three major reasons.

Consumer and Marketer Maturity

Nearly all personal accessories categories in the US have a highly evolved pricing structure. As such, the appreciation of private label, mid-priced, affordable luxury and high-end luxury brands is well defined among their respective target audiences. Fossil and JanSport are recognisable examples of mid-priced brands, while Coach and Michael Kors epitomise affordable luxury. On the other hand, most locally-based players in China tend to focus on economically-priced products, while international brands satisfy demand for high-end products. As a result, luxury players Swatch Group, LVMH and Richemont are the biggest international companies in China.

Continue reading "Why US Still Trumps China in Personal Accessories Strategies" »

Euromonitor to Speak at International Jewellery London 2014

IJL_LOGOS_2014Date: August 31 – September 2, 2014
Location: Olympia, London

Conference: IJL is the UK’s premier jewellery event, offering exclusive insight into the trends that will continue to drive the £1.2 billion UK jewellery market for years to come. IJL unites over 600 manufacturers, designers, gem suppliers and allied services with senior level quality buyers.

Discover the latest products and collections and gain insight into the latest trends. Network with the industry and expand your knowledge with our market leading seminar programme.

 

 

 

 

Continue reading "Euromonitor to Speak at International Jewellery London 2014 " »

July 20, 2014

Fashion Speaks: The Growth Potential for Wearable Digital Electronics

Weeteck_loo MayLing_Tham

Euroasia_yvonne kok_LThumbWith Wee Tek Loo, Head of Consumer Electronics and May Ling Tham - Head of Personal Accessories and Eyewear 

Moderated by Yvonne Kok, Head of Industry Research


Wearable devices, such as the Nike Fuel Band and the Samsung Galaxy Gear are manufacturer driven products that do not yet address any major functions better than a smartphone. So far, only fitness tracking devices are driving sales in the category as they serve a practical and motivational purpose. Other devices such as the Galaxy Gear suffer from poor aesthetics and bulky design. Until Apple releases its highly anticipated watch, which has the potential to disrupt the industry in the same way that the iPhone did, many manufacturers of electronics and watches are adapting a wait-and-see approach to wearable devices.

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July 16, 2014

Michael Kors’ Marketing Strategy Pays Off

Euroasia_Chloe.Wu_LThumbWith Chloe Wu, Personal Accessories & Eyewear Industry Analyst

Michael Kors is investing heavily in marketing its new diffusion line and as a result, consumers are associating the company as a lifestyle brand in line with Coach and Tory Birch. The company is also using social media as a way to use consumers to market its brands. It has a blog site called MK Timeless where consumers can upload pictures of their Michael Kors watches and a campaign called Watch Hunger Stop where the company donates money to the World Food Program for every 100 series timepiece purchased. These marketing strategies have paid off for the company with strong brand equity.

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Euromonitor to Speak at International Jewellery London 2014

IJL_LOGOS_2014Date: August 31 – September 2, 2014

Location: Olympia, London

Conference: IJL is the UK’s premier jewellery event, offering exclusive insight into the trends that will continue to drive the £1.2 billion UK jewellery market for years to come. IJL unites over 600 manufacturers, designers, gem suppliers and allied services with senior level quality buyers.

Discover the latest products and collections and gain insight into the latest trends. Network with the industry and expand your knowledge with our market leading seminar programme.

Continue reading "Euromonitor to Speak at International Jewellery London 2014 " »

June 25, 2014

Tiffany & Co: At What Point Does Affordable Luxury Prove Costly?

Rob WalkerAnalyst Insight by Rob Walker - Contributing Analyst

View Rob Walker's profile on LinkedIn

When a luxury brand renowned for high-end products takes a big chunk of its portfolio downmarket, there are risks. The biggest is that its prestigious image becomes diluted and affluent consumers drift away. Tough times call for bold decisions, though. Rewind a year and a half and US luxury jeweller Tiffany & Co found itself in choppy waters. Sales were sinking like a stone in its core home market, and in its New York flagship especially. Revenue in Europe and Asia Pacific was in freefall too.

In a bid to turn things around, Tiffany ramped up its participation in affordable luxury. At its famous New York flagship on Fifth Avenue, well-heeled shoppers could still spend upwards of US$50,000 on a piece of statement jewellery, or US$5-10,000 on a piece of fine jewellery. But, low-priced silver jewellery, typically costing less than US$500 a piece – and led by a new range branded as the Atlas collection – began to grow in visibility. Few retailers anywhere in the world offered products covering such a cavernous price spectrum.

Tiffany & Co: Global Net Sales

Source: Euromonitor International from company press release

Continue reading "Tiffany & Co: At What Point Does Affordable Luxury Prove Costly?" »

June 12, 2014

World Cup Excitement Hits Fever Pitch Among Brands and Consumers Alike

Sulabh MadhwalAnalyst Insight by Sulabh Madhwal - Personal Accessories and Eyewear Analyst

View Sulabh Madhwal's profile on LinkedIn

As the most watched sporting event in the world, the FIFA World Cup in Brazil will be a marketing battle for a number of consumer goods firms over June and July 2014. Two of the biggest global names, Procter & Gamble and Unilever, have Latin American footballers Lionel Messi and Neymar among their brand ambassadors, respectively. Here, I narrow my focus to various World Cup strategies adopted by personal accessories and eyewear manufacturers, as well as evaluate the possible impact on their sales.

 

Multinationals Exploit the Internet and Dedicate Collections

Employing a number of online advertisements and viral video campaigns, sportswear brands Nike and adidas are dominating the corporate build-up to the 2014 World Cup. While replicas of national jerseys, shoes and footballs are big draws in terms of event-related sales, bags, watches and sunglasses are appreciable parts of both brands’ global portfolio. In 2013, personal accessories and eyewear sales for Nike and adidas exceeded US$1.5 billion and US$900 million, respectively.

WCBag1.png

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Source: www.nike.com

Continue reading "World Cup Excitement Hits Fever Pitch Among Brands and Consumers Alike" »

June 11, 2014

Euromonitor to Speak at The Jewellery and Watch Show London 2014

JWL_LOGO_HORIZONTAL_POS

Date: June 18 -19, 2014

Location: Saatchi Gallery, London

Conference: Jewellery & Watch London is an exclusive two-day event that will give you the perfect opportunity to discover up-and-coming designs and trends. Each one of our exhibitors has been carefully handpicked to ensure high quality, design and originality, providing you with not only the perfect opportunity to source fresh merchandise ready for the festive trading period, but also to preview Spring/Summer 2014 collections. Jewellery & Watch London is moving to the Saatchi Gallery this year, providing you with the perfect setting for such an exclusive event.

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May 31, 2014

Local Competition to Drive Internet Retailing in Fashion

Sulabh MadhwalAnalyst Insight by Sulabh Madhwal - Personal Accessories and Eyewear Analyst

View Sulabh Madhwal's profile on LinkedIn

Internet retailing has been one of the primary drivers for consumer goods sales over 2008-2013. However, in terms of personal accessories, internet retailing accounted for less than 4% of global sales in 2013, representing its nascent nature in several key markets for the industry. A deeper dive into individual markets reflects a growing influence of locally-based third party websites as most manufacturers remain wary of operating internet retail portals.

 

Global Exposure to Online Sales

With internet retailing accounting for a double-digit proportion of its sales in 2013, consumer electronics is an industry far ahead of the fashion world in terms of accepting online transactions. Within the latter, both apparel and beauty purchases are more likely to be completed online as compared to those related to personal accessories.

Continue reading "Local Competition to Drive Internet Retailing in Fashion" »

May 11, 2014

Women a Key Target Audience for Luxury Watchmakers

Warangkana AnuwongAnalyst Insight by Warangkana Anuwong - Senior Personal Accessories and Eyewear Analyst

View Warangkana Anuwong's profile on LinkedIn

Men remain the core target audience for luxury watches, particularly in the mechanical and digital categories. Globally in 2013, men’s luxury timepieces accounted for a 64% share of sales of overall luxury timepieces, with women’s luxury timepieces accounting for the remaining 36%.

However, women are assuming greater importance in this category for several reasons. The female population has been growing for several years. Over 2008-2013, the world’s female population grew by 6.5%, slightly higher than the male population. This growth trend is expected to continue over the next five years, with women set to account for close to half the world’s total population by 2018.

 

Continue reading "Women a Key Target Audience for Luxury Watchmakers" »

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Recent Posts

Why US Still Trumps China in Personal Accessories Strategies

Euromonitor to Speak at International Jewellery London 2014

Fashion Speaks: The Growth Potential for Wearable Digital Electronics

Michael Kors’ Marketing Strategy Pays Off

Euromonitor to Speak at International Jewellery London 2014

Tiffany & Co: At What Point Does Affordable Luxury Prove Costly?

World Cup Excitement Hits Fever Pitch Among Brands and Consumers Alike

Euromonitor to Speak at The Jewellery and Watch Show London 2014

Local Competition to Drive Internet Retailing in Fashion

Women a Key Target Audience for Luxury Watchmakers