Richemont Group which owns the Piaget brand of luxury watches and jewelry is making a strategic shift in its marketing and sales effort. Al over the world, they are identifying the luxury shopping streets and opening brand boutique watch stores instead of going in for general watch stores that stock multiple brands. It is under this strategy that Piaget luxury watches and jewelry has found a new home in the shape of an uncommon boutique store on Bond Street in London.
This move is bound to attract a more focused attention of the consumers instead of competing with the other brands. It will help showcase the brand much better. The Piaget boutique on Bond Street is able to tell the whole story of the brand’s current collection – which ranges from sophisticated to sporty men’s pieces, as well as extremely artistic high-end jewelry watches for women.
The move towards an exclusive brand store is also seen as a step by Richemont to consolidate its position as an online retailer. The boutique stores double as fulfillment centers for shipping product. This way, Piaget has a local distribution center for online sales made in the UK. Richemont is not offering Piaget for sale online as yet but looking at their sales strategy for other brands in their portfolio, Piaget might become available online sooner than later.