Hublot’s distribution strategy of reducing the number of retail partners in its network and focusing more on corporate stores in North America has helped boost sales by 20% this year, according to Jean-François Sberro, president of Hublot North America, whose territory includes the United States and Canada.
Not only is there more product going into stores, it is also flying through to consumers. “At the end of October 2018, Hublot North America has registered growth of 20% compared to the same period last year in terms of both sell-in and sell-out,” Mr Sberro tells WatchPro today.
Growth of 20% outperforms the wider US market, which saw sales increase by 8% across all price points in the first half of 2018, according to NPD. Growth at the luxury end of the market has been considerably faster, the retail analyst says.
“Our subsidiary is obviously benefiting from the US watch market strong recovery after three years of downward trend,” says Mr Sberro, “Our distribution strategy, based both on focusing on our corporate stores and downsizing of our overall network, has proved to be the right one for this market,” he adds.
This year’s Hublot product range also helps, Mr Sberro suggests. “Hublot timepieces continue year-after-year to be more desirable, innovative and therefore sought-after,” he concludes.