A partnership with Christiano Ronaldo, a branded skyscraper in Dubai and a partnership with The Godfather movie are just some of the initiatives that have propelled a rise in sales for Jacob & Co of 132% from 2022 to 2013.
These headline-grabbing plans have been underpinned by a global roll out of boutiques overseen by the father and son team of Jacob Arabo and Benjamin Arabov.
The Middle East has become a key market for the New York-based jeweller and watchmaker.
The Jacob & Co boutique reopened in Dubai Mall (the biggest mall in the world and home to the largest Rolex showroom) earlier this year.
This coincided with friend of the brand Christiano Ronaldo moving to Saudi Arabia in a mega money move likely to be the last of his illustrious football career.
The company has also opened its first point of sale in Istanbul.
“Joining my father to run the company, doubling our business activities in two years has been incredibly challenging and rewarding. Supporting Jacob & Co’s growth is the implementation of a strategy based on total independence, an agile management structure, a laser-like focus on innovative creations and absolute excellence,” Mr Arabov says.
One of the secrets to recent growth has been investing early in the highest growth markets.
India is a prime example, where Jacob & Co is not in 11 locations with its partner Ethos. The businesses will open a first boutique in Mumbai in March.
“What makes Jacob & Co unique is its unconventional designs and mechanisms which are nothing less than a piece of art. In the next 5 years, India will be one of the top luxury watch markets in the world. Bringing the quintessential Jacob & Co into the Indian market raises the interest and curiosity of Indian buyers. It was the brand’s zest to bring something innovative and unique into the market that essentially motivated us to invest in Jacob & Co,” says Ethos CEO Soomya Rastogi.
Sales growth for the two years from 2020 have been underpinned by by strong demand for luxury watches in core markets, including the United States where Jacob & Co has boutiques in Miami and New York, and opened with Watches of Switzerland last year Minnesota and Atlanta.
“We see attractive opportunities in the US as we further develop our lower-end timepieces, with substantial growth happening in 2024 and 2025,” Mr Arabov reveals.
