Girard-Perregaux will open its first boutique in the UK this year, the company’s CEO Patrick Pruniaux has revealed.
In WatchPro’s Big Interview this month, Mr Pruniaux says the branded showroom will be in London, and will be part of a global network of around a dozen flagships.
Girard-Perregaux already has boutiques in Asia, run as franchises by its retail partners in the region.
Monobrand stores will be in addition to shop-in-shops, which will be launched with what Mr Pruniaux describes as the best retailers in the world, without providing examples.
“In 2023 we are going to roll out between 40 and 50 [shop-in-shops], which is about 25% of our distribution. Plus there will be a dozen additional boutiques in top locations. We are opening a boutique in Geneva in 2023. There is also going to be one in London,” he reveals.
Whether the location is best served by a boutique or a shop-in-shop within a multibrand environment, Girard-Perregaux will only work through partners.
“Our strategy is to continue selling 100% through retailers, whether that is in multibrand stores or franchised boutiques. We believe strongly that retailers are very good at what they do. Our job is to make sure they understand Girard-Perregaux and believe in us,” Mr Pruniaux insists.
Being highly selective with its distribution is attracting the strongest retail partners in each city around the world, and those retailers are committing to prime positions and space within their stores.
“There is a very strong level of partnership with our retailers and we have great positions with many of our points of sale. Sometimes we are only second in the way we are treated by our retail partners to the market leader. Very often we will be one of the top three brands with a retailer in terms of space allocated and position. That only happens if we mutually support each other. Having fewer points of sale is an important part of that,” Mr Pruniaux describes.
“Today, brands have a lot of different strategies when it comes to retail. Some are verticalising their distribution [selling direct to consumer], but that is not our way,” he concludes.
https://www.watchpro.com/newsletters/the-big-interview-girard-perregaux-ceo-patrick-pruniaux/
