If you want intelligent insight into the evolution, challenges and opportunities for the American watch market over a game of Eight-ball, Fred Levin is your man.
Few individuals are as well-connected, thanks to him founding LGI Network, a business that amassed data from point-of-sale systems at more than half of leading independent jewelers and nearly all leading chain and department store retailers selling watches.
After LGI was bought by market research company The NPD Group (which then allowed it to wither on the vine), Fred leant on his relationships to launch Troverie, an omni-channel retailer of luxury watches with the privileges of authorized dealer status for every brand it offered.
When Troverie — selling at recommended retail prices as befits an authorized dealer — found itself undercut by gray market dealers offering the same watches for less, Fred pulled the plug and Teddy Baldassarre took over much of its intellectual property.
Fred moved back to the world of consultancy, where he is now managing partner of Forward Impact Associates, which advises luxury goods businesses on distribution, retail, finance and marketing.
He is passionate about helping luxury brand clients reach new markets by embracing modern marketing, media and retail strategies, but has found the watch industry averse to taking risks on anything judged too cutting edge.
“This has historically lowered the pace of innovation in our industry,” he argues.
Attitudes might be shifting, and Fred’s advice is for business leaders in America to embrace the unconventional as a way of getting noticed.
“I resist relying on persuasion and logical arguments and instead highlight the career risk of a professional being seen as too risk averse and lacking vision,” he says.
“Industry leaders are gradually beginning to embrace these new ideas.”
