© Written by Rachael Taylor for Retail Jeweller
The post-recession explosion of silver jewellery brands in the UK market came at a time when the industry sorely needed a boost. Soaring precious metals prices made gold – until then, the bread and butter of jewellery sales – unattainable for most, and the trade remained shrouded in a dusty, fuddy-duddy image. The entry of flashy, fashionable brands like Pandora was revolutionary and made jewellery relevant to a new audience. Yet all revolutions have a life cycle. After a dazzling peak, are we slipping closer to a trough as some retailers start to move away from jewellery brands?
“Five years ago, 70% of our business was jewellery, and 70% of that was branded jewellery, but [branded jewellery] has shrunk to an almost irrelevant amount now,” says Kyron Keogh, co-founder of Rox. The Glasgow-based retailer still works with select jewellery brands – Thomas Sabo, Gucci and its latest signing Chopard, which Keogh says is selling well to a “young, fashionable crowd” – but five years ago it started to develop its own brand, employing an in-house designer, and reduced its dependency on brands. Now the majority of the jewels it stocks are sold in a Rox box.
A key message within the industry over the past couple of years has been the importance of building a retail brand that is stronger than the branded jewels sold within it. Independent retailers have invested in shop fits and branding that create a memorable identity with signature colours, such as the blue of Kings Hill Jewellery in St Albans, a retailer that has also moved away from brands to focus on its own Kings Hill Collections of fine jewellery…
This story was originally published in the January 2018 issue of Retail Jeweller magazine. Continue reading to see magazine layouts and download full-size PDFs. Main image: Hamilton & Inches.
Download PDF: 039-040_RJ_JAN2018_ByeByeBrands