For Laurent Feniou, managing director of Cartier UK, the group’s give attention to digital exercise and e-commerce is effectively matched with Cartier’s personal technique, in addition to being complementary when it comes to retail retailer areas in Britain. “Cartier is London-centric however with Watches of Switzerland and Goldsmiths, we are able to have a broad attain throughout the nation,” he stated in a cellphone interview.
A key technique introduced in Watches of Switzerland’s five-year plan, printed final 12 months, is additional acquisitions and investments in america in addition to venturing into Europe, with plans to open six single-brand boutiques in Sweden, Denmark and Eire subsequent 12 months. It additionally has ventured into pre-owned watches, a rapidly expanding category within the business, with the acquisition final 12 months of the U.S. on-line specialist Analog:Shift.
And it’s specializing in jewellery, which Mr. Duffy stated, “is strategically in all probability the following most enjoyable factor we’re .” (The class’s income for the latest quarter, ending Jan. 30, was £41.8 million, a rise of 88.8 p.c in comparison with the identical interval in its final fiscal 12 months, however nonetheless solely 15 p.c of the £280 million luxurious watch income for a similar interval.)
Mr. Duffy introduced a substantial vary of monetary, business and advertising expertise to Watches of Switzerland, with work as a chartered accountant at KPMG and a job at Polaroid adopted earlier than he joined Playtex UK. By 28, he was its chief monetary officer; by 30, he had moved to Paris together with his spouse and younger household to tackle the identical position for Playtex’s European operation; and by 33, that they had relocated to Connecticut, the place he turned its worldwide monetary officer.
He found an urge for food for threat when, in 1986 within the midst of the junk bond increase, he was a part of a administration buyout backed by the funding agency KKR. However then, in 1991, the corporate was offered to the Sara Lee Company. “I went from being a web borrower to having web funding and I by no means needed to borrow cash for a mortgage or something after that,” he stated.
In 1992, the household returned to Britain as Mr. Duffy turned chief government of Playtex UK, and shortly was concerned within the runaway success of Wonderbra, the lingerie model owned by Sara Lee that he negotiated again from its licensee. Its 1994 “Hello Boys” campaign, starring Eva Herzigova, was plastered on billboards world wide and “turned an exceptional success,” he stated. Internationally, “a enterprise that was price $10 million turned a enterprise of $200 million within the house of a few years.”
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