FASHION & ACCESSORIES REPORT
“Storytelling is important…A brand needs to be more than just a bag, a belt, or a purse.”
Gerry Munday, Global Travel DIrector, Furla
July 2017 20
YEARS 1997-2017
SME companies on the rise in South Korea
Desigual’s A/W 2016 collection.
importance of a brand’s story and the availability of travel retail exclusives which allow companies some reprieve from those punitive price margins as a result of competition from other retail channels. “By Spring/Summer of 2018, we
will have a very innovative travel exclusive offer, which we will be able to present to our distributors in Cannes,” says Colino. “We have recently crossed the
barrier of having 50% of our travel retail distribution with our new shop concept, we have tremendous support from our partners and we will keep renewing shops for the next 18 months. Colino also reveals that the
company met expectations on store sales in its North American directly- operated stores (positive for the fourth quarter in a row); showed continuous growth in China and Europe and
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delivered very strong progress in gross margin. “We are very confident of our
transformation plan and we have been very disciplined in executing it. The results and confidence from the market shows that.”
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Biggest challenges So what’s the outlook for this category in 2017 and beyond? “The continuous volatility in the business caused by external factors (travel restrictions, exchange rates, terrorism, geopolitical conflicts, etc) is the single biggest obstacle today,” says Colino, chiming with Munday’s earlier sentiments. “South Korea is definitely our
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Which territories have proved more challenging for DF&TR sales this year and why? It’s a great moment for the brand in terms of developing new partnerships and implementing our distribution in Asia Pacific. In Latin America Diesel is facing a tough period because of the currency devaluation which influences the travel demand from locals. In fact there has been a decrease in
traffic from Brazil. The EMEA regions are stable overall and solid results have been achieved from the recent projects developed: the Venice relocation and the new opening in Fiumicino Airport.
JULY 2017
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biggest challenge today. Coach has been historically very present in this market and due to travel restrictions we see a negative impact in our business.
we have already identified several opportunities and we are already adjusting our product offer in different travel retail locations to address that.” «
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Tell us what your main priorities are for the second half of 2017 and for 2018? The focus for 2017 is on APAC key locations and strategic new partnerships. Diesel is further consolidating its footprint in the travel retail channel with both its formats: store and ‘shop in shops’. New openings are planned later this year in China, Singapore and USA. The priority for 2018 is to reinforce brand presence in the Middle East, with a particular focus on Turkey and the Emirates.
What specific/demands/trends have you witnessed in recent years which have seen the company alter its portfolio
or the way in which it is operating in DF&TR? The most relevant aspects are definitely digitalisation and global pricing. It’s an era where people are connected all the time, which is why Diesel is implementing new digital tools in-store to allow millennials in particular to feel ‘at home’.
TRBUSINESS 39
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sales of sunglasses in DF&TR
“Other regions such as Taiwan and the Middle East also suffered from external factors. However Coach has a very diversified portfolio of shops, in travel retail we are present in every continent, in 30 countries with over 130 shops, which helps compensate in some regions the under-performance in other ones.” The company is also gleaning
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information from its shops outside of travel retail and has created more synergies with its High Street and downtown operations over the last 12 months. “We have decentralised our travel
CITY PLUS | SAMICK | DOOTA DUTY FREE | ASUTIL 2017 REVIEW | M1ND-SET | DESIGUAL PAUL & SHARK | COACH | FURLA | DIESEL | MAUI JIM | SWISS EYEWEAR GROUP | MARCOLIN SCORPIO WORLDWIDE | LUXOTTICA | WILLIAM GRANT | PEOPLE NEWS | NOW & THEN
retail organisation and now we operate through five different offices spread across the globe,” reveals Colino. “This gives us the ability to be closer to our directly-operated stores, learn from their marketing and promotional activities, local consumer knowledge and then apply that to our travel retail business. “Thanks to this new organisation,
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