You might not have heard of Tayroc watches and you are almost certainly unaware of Lid Projects, a marketing and business development agency, but both companies have big plans to crack the UK market by growing a significant network of retail partners for the brand.
Lid Projects acquired Tayroc earlier this year for an undisclosed sum. Gemma Noble, co-founder and managing director of Lid Projects, has taken the reins of the watch business, having already been intimately involved in its growth story over the past six years.
The two companies have been working together since 2014, developing a network of retail partners across Europe and Asia that now stretches to 660 doors.
Ms Noble concedes that Tayroc is “still undiscovered”, despite having amassed over 513,000 followers on Instagram and selling 40,000 watches world-wide in 2019.
Lid Projects is experienced at building retail networks for fashion brands, and will be tapping into its contacts in that world, but Ms Noble also wants to work with independent and multiple jewellers as well as department stores and ecommerce operations.
“We want to work with the best retailers in their areas, and we will support them with local targeted marketing,” she explains.
Tayroc’s watches are currently designed in Britain and made in China. They sell for between £70 and £120 to a typically millennial or Gen-Z demographic.
Ms Noble wants to add a Swiss-made line with higher price points of £200 to £300 ahead of Christmas this year. She is also looking into creating other lifestyle products under the Tayroc name including jewellery and sunglasses.
Lid Projects is also offering to make white label watches for partners that want to create their own branded collections.