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MB&F retail strategy - have the retailers beg for your wares  0 Comments

Published Saturday, November 27, 2010 by Harry SK Tan |

 

The NYT/IHT published an interesting report about the business strategy of MB&F a couple of days ago. The brand itself has a growing faithful following but Max Busser the CEO was not satisfied with just having the current customers.Every year since formation of the brand, Max would be flying to the main markets of his watches. He has clearly indicated that Asia is his biggest market and now working in partnership to have a retail presence in Beijing.

The most useful lesson for other independent watchmakers is to have more authorised retailers than the supply of limited editions. That would - presuming there is high demand for the watches - cause retailers to literally beg for additional orders to be filled.

Would that strategy work in the long run? At least in the short term where in the immediate future, most brands are reconsidering their relationships with their retailers and many have already opened up their own boutiques rather than to rely on retailers to push their watches. So retailers will be working hard to keep their suppliers happy.

With the downturn retail markets, retailers are being challenged to remain relevant and competitive. What should be their strategy in such a market situation? They need to capitalise on their customer base and develop an even stronger relationship by providing value services such as concierge services and turn around to deliver watches both new and older designs quicker to the more wealthy customer. So they have to work harder and be more effective to see themselves as a service industry rather than in the business of sales of luxury products. 

- HT

 

 




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