From zero to £1.5 million within 12 months
Within the watches category there are three distinct buying categories – Self Select, Undercounter and Premium. The self-select category was dominated by either brand leader Swatch at a premium price or Sekonda at the entry price. There was a gap in the market for a ‘fashionable’ brand targeted at a younger customer at an affordable price with a strong Brand name.
Context and Challenge
ICG (Inter City Group) made an initial request for us to view a new proposal for Superdry Watches. At this point the designs were only on paper and not in production. The concept was immediately of interest however, there were many challenges to overcome. The potential of the product was so clear that we needed to design self-select floor units and have them on the shop floor, in over 30 stores, before the peak season trading, meaning a timeline of 3 months.
It was also clear that this product should not be limited to UK business only, but had potential in overseas stores, therefore an expansion plan, including international airports was agreed. This required considering differing currencies and export details which needed to be agreed.
Process and Solution
Working extremely closely with the supplier, we made compromises in order to get up and running, ensuring it was launched in a professional way, and only when the stands and products were available. We agreed T&C’s based on an initial roll out and then dependant on sales volume and international expansion.
We prepared a sales budget based on units sold of similar products and placed orders accordingly. Given the lead time from the Far East we agreed on a phased roll out plan.
The overseas roll out presented further challenges but with internal negotiations and clear sales targets we achieved the agreed plan.
Results and Insight
The product launch was extremely successful leading to a period of low stocks in the first year. This was unfortunate but also gave us a clear insight into potential volumes for the following season.
The International Roll out was achieved with a new merchandising and re-order process adopted.