News: Van Cleef & Arpels plans local foray
(TNN 02/04/2006) Mumbai - Stanislas De Quercize is proud of being audacious. He feels audacity is the DNA of Van Cleef & Arpels. Its mystery settings are audacious, its legendary zip design is audacious, the first high-end jewellery brand to launch a fragrance in ’74 is audacious.
In a market where 80% is held by the unbranded segment, to be the most recognisable brand in the world, audacious. “Wealthy women who choose to buy Van Cleef & Arpels are chic, glamorous and audacious,” says the president and CEO, Van Cleef & Arpels International, of the legendary high-end jewellery brand, which is celebrating its centenary year.
On his first visit to India, Mr Quercize — who has spent the past decade-and-a-half with the world’s second-largest luxury group, Swiss giant Richemont (total turnover as of FY05 was e3,717 or Rs 17,000 crore) and has had experience with brands like Mont Blanc, Cartier and Alfred Dunhill — is sure that the time has never been more right to foray into the Indian market.
In fact, the high-end jewellery house has been growing in double digits, says the CEO, without divulging any figures. He says the pie is equally divided between Europe, America and Asia.
While Van Cleef & Arpels made its first Asian foray into Japan way back in 1972, its Hong Kong entry came a decade later (three boutiques at present), followed by Taiwan (two), Korea (three) and Singapore (one).
Mr Quercize says there is more wealth in the world and consumers are discerning, but buying. Being recognisable has, of course, helped, as has being timeless in its design.
Legendary for its mystery settings, exquisite stones and famous clover collections among many others, the legends who have chosen to wear the brand include people as diverse as the Duchess of Windsor to Grace Kelly, Julia Roberts and Britney Spears.
The CEO is sure that India, a country with a passion for jewellery, will be a good market, though he agrees that with branded high-end watches already being an established market, he expects his watches will do good business.
In the jewellery segment, following its Asian neighbours, Mr Quercize expects that the world-wide success story of the Alhambra collection will be repeated in India too.
A line whose entry point begins at $800, (going up to more than $7m) is the reason why Mr Quercize has chosen to depart from his global retail strategy of standalone boutiques to be part of a multi-brand fashion retail format in Mumbai called ‘Thanks’, which already houses luxury brands like Fendi and D&G among others.
“Indian consumers are ready for self-purchase, which is the new buzz among women world-wide. They no longer wait for occasions to buy jewellery. And a multi-brand fashion retail format like Ashish Chordia’s ‘Thanks’ helps in diminishing the barrier and intimidation of a jewellery brand like Van Cleef & Arpels.
This retail strategy allows us to understand the Indian market,” says Mr Quercize. His long-term strategy will include both self-standing boutiques, as well as a presence in a multi-fashion brand retail format.
For now, the CEO is eagerly awaiting the release of the limited edition (100 pieces) of the Poetic complication watch from Van Cleef & Arpels at the Geneva watch fair. The dial of the watch changes with the four seasons, spring, summer, autumn and winter. “We did say we are an audacious brand,” says Mr Quercize.
In a market where 80% is held by the unbranded segment, to be the most recognisable brand in the world, audacious. “Wealthy women who choose to buy Van Cleef & Arpels are chic, glamorous and audacious,” says the president and CEO, Van Cleef & Arpels International, of the legendary high-end jewellery brand, which is celebrating its centenary year.
On his first visit to India, Mr Quercize — who has spent the past decade-and-a-half with the world’s second-largest luxury group, Swiss giant Richemont (total turnover as of FY05 was e3,717 or Rs 17,000 crore) and has had experience with brands like Mont Blanc, Cartier and Alfred Dunhill — is sure that the time has never been more right to foray into the Indian market.
In fact, the high-end jewellery house has been growing in double digits, says the CEO, without divulging any figures. He says the pie is equally divided between Europe, America and Asia.
While Van Cleef & Arpels made its first Asian foray into Japan way back in 1972, its Hong Kong entry came a decade later (three boutiques at present), followed by Taiwan (two), Korea (three) and Singapore (one).
Mr Quercize says there is more wealth in the world and consumers are discerning, but buying. Being recognisable has, of course, helped, as has being timeless in its design.
Legendary for its mystery settings, exquisite stones and famous clover collections among many others, the legends who have chosen to wear the brand include people as diverse as the Duchess of Windsor to Grace Kelly, Julia Roberts and Britney Spears.
The CEO is sure that India, a country with a passion for jewellery, will be a good market, though he agrees that with branded high-end watches already being an established market, he expects his watches will do good business.
In the jewellery segment, following its Asian neighbours, Mr Quercize expects that the world-wide success story of the Alhambra collection will be repeated in India too.
A line whose entry point begins at $800, (going up to more than $7m) is the reason why Mr Quercize has chosen to depart from his global retail strategy of standalone boutiques to be part of a multi-brand fashion retail format in Mumbai called ‘Thanks’, which already houses luxury brands like Fendi and D&G among others.
“Indian consumers are ready for self-purchase, which is the new buzz among women world-wide. They no longer wait for occasions to buy jewellery. And a multi-brand fashion retail format like Ashish Chordia’s ‘Thanks’ helps in diminishing the barrier and intimidation of a jewellery brand like Van Cleef & Arpels.
This retail strategy allows us to understand the Indian market,” says Mr Quercize. His long-term strategy will include both self-standing boutiques, as well as a presence in a multi-fashion brand retail format.
For now, the CEO is eagerly awaiting the release of the limited edition (100 pieces) of the Poetic complication watch from Van Cleef & Arpels at the Geneva watch fair. The dial of the watch changes with the four seasons, spring, summer, autumn and winter. “We did say we are an audacious brand,” says Mr Quercize.
posted by InCar Group Press Room at 23:51
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