In the March 2013 issue of the magazine WatchPro presented an in-depth report on the licensed watch brand market. Here Beaverbrooks watch buyer Nick Bucknell gives his insight on how the national retailer’s licensed brand offer works and which styles are most popular with its shoppers.
WatchPro: Licensed watch brands appear to be growing in strength in the UK market – why do you think this is?
Nick Bucknell: Licensed watches have absolutely grown in strength. We believe this is following the ever-growing popularity of fashion labels in general, although particularly noticeable in the clothes and jewellery industry. People love to wear fashion labels and really do buy in to the lifestyle and appearance of the image that they portray. A watch is another opportunity to do this in style and at a reasonable cost, add to this great quality products and it is easy to see why this segment has grown stronger.
WP: Tell us about the licensed watch brands Beaverbrooks sells.
NB: We offer a large portfolio of licensed watch brands, which between them can appeal to most types of customers. Our offer includes amongst others Emporio Armani, Michael Kors, DKNY, Marc Jacobs and Hugo Boss.
WP: With such a wide variety of brands inspired by fashion houses, how do they sit alongside each other in the shops?
NB: The interesting observation about watch brands is that each one holds its own unique identity depending on the customers and segment of the market of which they are aiming at. For these reasons we often find that the bestsellers from each brand are very different from each other.
WP: What are the most popular styles of watch in the licensed brand segment?
NB: Sports watches with the chronograph function remain as a gent’s favourite and we are seeing a strong trend towards rose and yellow gold tones for ladies.
WP: How does Beaverbrooks work with the watch brands to market the collections?
NB: We work collaboratively with each brand to establish how we can best inform our customers about both established and new products. A key part of this is ensuring that we honour the integrity and image of all our partners. We are very fortunate that we receive great support in doing so.
WP: Is there any area that you believe is untapped in terms of licensed brands?
NB: There is so much product choice that it is difficult to name any area that is untapped. The market is incredibly fast paced and innovative which is why it is such an exciting market, for both retail buyers and for consumers.