Jeweller - December 2020
• Survival lessons: Essential business tips learned from a year of upheaval • Full state of play: a comprehensive report into the Australian jewellery industry in 2020 • Show stoppers: standout jewellery pieces from local talents
• Survival lessons: Essential business tips learned from a year of upheaval
• Full state of play: a comprehensive report into the Australian jewellery industry in 2020
• Show stoppers: standout jewellery pieces from local talents
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Brand-only stores | STATE OF THE INDUSTRY<br />
L to R:<br />
Bulgari; Boucheron<br />
independent stockists – unlike, for example, Tiffany & Co., Cartier,<br />
and Georg Jensen, which have vertically-integrated business<br />
models.<br />
A vertically-integrated business consolidates multiple steps in<br />
the typical distribution process, from manufacturing to consumer<br />
purchase. Hence Pandora stores are now classed as a ‘chain’ for<br />
the purpose of our <strong>2020</strong> State of the Industry Report. This means<br />
we can compare apples with apples, and observe that there were<br />
128 flagship and brand-only stores in 2010 (excluding Pandora)<br />
compared to 220 in <strong>2020</strong>.<br />
Further, we can see that five of the 19 brands in 2010 (Autore, Briel,<br />
Storm, Georgini and Guess) no longer operate any retail stores<br />
whatsoever today. Despite this contraction, 24 new brands have<br />
entered the market, meaning that there are now 38 watch and<br />
jewellery companies operating brand-only stores in Australia.<br />
It should be noted here that the increase in brand-only stores<br />
has been driven by a number of internationally renowned luxury<br />
conglomerates, such as Moët Hennessy Louis Vuitton (LVMH) and<br />
Richemont, which cover a wide range of products, from jewellery<br />
and watches to fashion and leather goods, perfumes and cosmetics.<br />
These groups account for many of the new brand-only stores<br />
introduced to the Australian market over the past 10 years –<br />
including Montblanc, Chaumet, Hublot, Piaget, Van Cleef & Arpels,<br />
Jaeger-LeCoultre, and Vacheron Constantin – and increases in the<br />
number of existing brand stores, notably Bulgari and Tag Heuer.<br />
International luxury brands such as Chopard and Hèrmes have<br />
followed suit.<br />
It is notable that Kennedy <strong>Jeweller</strong>s, which was established in<br />
Sydney in 1976, operates 10 boutiques (brand-only stores) for Rolex,<br />
IWC Schaffhausen, Jaeger-LeCoultre, Panerai and Graff.<br />
These have been included in this section of the State of the Industry<br />
report, consistent with <strong>Jeweller</strong>’s definition that brand-only stores<br />
can be owned and operated by the proprietor of the brand, or under<br />
license by third parties.<br />
Rolex, for example, has two other boutiques in Queensland operated<br />
by Langfords <strong>Jeweller</strong>s, while owner Richemont operates a second<br />
Jaeger-LeCoultre brand-only store in Melbourne.<br />
The evolution of the watch and jewellery brand mix over the past decade<br />
TABLE 3: JEWELLERY BRAND-ONLY STORES <strong>2020</strong><br />
BRANDS NSW VIC QLD WA SA TAS ACT NT TOTAL<br />
APM Monaco 4 2 1 7<br />
Bulgari 1 3 2 6<br />
Cartier 2 1 1 4<br />
Chaumet 1 1<br />
Dior 1 1 2<br />
Georg Jensen 2 4 3 1 10<br />
Graff 1 1<br />
Gucci 2 1 2 1 6<br />
Hèrmes 1 1<br />
Kailis 4 4<br />
Louis Vuitton 2 3 2 1 8<br />
Montblanc 2 2 4<br />
Ole Lynggaard 1 1<br />
Paspaley 1 3 1 2 1 8<br />
Piaget 1 1<br />
Secrets Shhh 2 4 9 1 1 17<br />
Swarovski 20 12 10 2 1 1 46<br />
Thomas Sabo 1 2 3<br />
Tiffany & Co. 2 2 2 1 1 8<br />
Van Cleef & Arpels 1 2 3<br />
TOTAL 44 46 32 13 4 0 1 1 141<br />
There has been a large move by international luxury goods brands to establish brand-only outlets<br />
in Australia. Of the 38 watch and jewellery brands with brand-only stores in Australia, nearly 40<br />
per cent are owned by LVMH, Richemont, or Kering.<br />
SWATCH GROUP<br />
19 BRANDS<br />
FOSSIL GROUP<br />
15 BRANDS<br />
MOVADO<br />
10 BRANDS<br />
TIMEX<br />
8 BRANDS<br />
Balmain<br />
Jaquet Droz<br />
Adidas<br />
Marc by Marc Jacobs<br />
Movado<br />
Gc<br />
Blancpain<br />
Léon Hatot<br />
Armani Exchange<br />
Michael Kors<br />
Concord<br />
Guess<br />
Breguet<br />
Longines<br />
Burberry<br />
Michele<br />
EBEL<br />
Nautica<br />
Ck Calvin Klein<br />
Mido<br />
Columbia Sportswear<br />
Skagen<br />
MVMT<br />
Salvatore Ferragamo<br />
Certina<br />
Omega<br />
Diesel<br />
Tory Burch<br />
Olivia Burton<br />
Ted Baker<br />
Endura<br />
Rado<br />
DKNY<br />
Coach<br />
Timex<br />
Flik Flak<br />
Swatch<br />
Emporio Armani<br />
Hugo Boss<br />
Versace<br />
Glashütte Original<br />
Swiss Timing<br />
Frank Gehry<br />
Lacoste<br />
Versus<br />
Hamilton<br />
Tissot<br />
Karl Lagerfeld<br />
Tommy Hilfiger<br />
Harry Winston<br />
Kate Spade<br />
Scuderia Ferrari<br />
<strong>December</strong> <strong>2020</strong> | 49