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Brand News: New Luxury Watch E-Partnerships Launched; Pandora CEO Resigns; Promotions At HOF; More August 15, 2018 (0 comments)

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Troverie Launches Brand-Authorized And Jeweler-Partnered E-Commerce Site For Luxury Watch Brands

New York, NY—Independent jewelers that have to battle with online gray marketers of luxury watches are getting some new help from Troverie, an innovative brand-authorized, omni-channel luxury watch retailer that launched last week.

The new site is addressing a long-standing gap in the luxury watch industry: the ability to buy luxury watches online from authorized channels. Plenty of unauthorized sellers, i.e. gray market, offer high-end watches online, but many brands have been slow to embrace digital sales via authorized channels.

Related: Online Gray Market Growing For Luxury Jewelry And Watches, Discounts Up To 65%

Troverie’s nationwide, vertically-integrated, authorized online shopping experience offers over 800 models from top luxury brands like BLancpain, Breguet, Girard-Perregaux, Omega, and a dozen more, for a total of 16 brands so far. It also has partnered with 26 of the nation’s leading independent retailers—representing 70 doors in 22 states—to offer their customers a single clicks-and-bricks shopping experience where luxury watches can be bought online and either delivered directly to the consumer or picked up in person at the local partner jeweler. Delivery orders will be fulfilled by a partner retailer that has the watch in stock.

Troverie was founded by Fred Levin, a longtime watch industry executive and former head of market research firm NPD’s luxury group. “With Troverie, we are targeting one of the few remaining merchandise categories yet to be adequately represented online and helping generations-old, family-owned businesses expand their reach and enhance their digital presence in a seamless omnichannel platform,” he said. 

“The watch industry has been desperate for an omnichannel sales vehicle led by true experts to properly bridge the gap between online and in-store sales. Troverie is just what Breitling and our authorized retailers have needed,” said Georges Kern, global CEO of Breitling. “With Troverie, consumers can rest assured that they are looking at authorized watches, knowing the source is authentic.” 

Related: Study: Not Having E-Commerce Hurts Jewelers’ Brick And Mortar Sales And Helps Gray Marketers

“Troverie expresses digitally the watch industry’s business model. It puts together a great product offering from top watch retailers and elevates the experience of finding the perfect timepiece,” said Patrick Pruniaux, CEO of Ulysse Nardin. “For a brand like Ulysse Nardin, partnering with Troverie provides additional visibility as well as the perfect environment to find our clients online. We are proud of being part of such a project, a true trademark between today’s traditional brick-and-mortar world and tomorrow’s pure digital experience.”

Among the 26 jeweler partners are renowned luxury watch purveyors such as Traditional Jewelers in Newport Beach, CA; Hamilton Jewelers in Princeton, NJ and Palm Beach, FL; Borsheims in Omaha, NE, Shreve & Co. in San Francisco, CA; and Denver, CO-based Hyde Park Jewelers.

“Troverie represents a strategic opportunity to create the industry’s first premier authorized luxury watch online experience with official watch jewelers as a critical component of the solution,” said Michael Pollak, CEO and founder of Hyde Park Jewelers. “Through the Troverie platform, Hyde Park can now offer clients flexible choices for their purchase, including buy online, buy online/pick up in-store or view in-store.” 

“We have been following the development of Troverie for some time, looking forward to this launch,” said Mark Udell, CEO of London Jewelers in New York. “As our business continues to grow, selling online will be a bigger and bigger part of that. We believe in delivering a true omnichannel experience for our customers and have always put a high priority on being able to do that in a way that is fully authorized by the brands we represent. We see Troverie as the next step in being able to serve our customers.”

Troverie offers daily concierge service where industry professionals provide education, guidance, and support via email, phone, or live chat. Once customers select a watch, they can have it delivered to their home or office or pick it up at their nearest trusted jeweler, where a Troverie Ambassador will size the watch and educate the customer on proper operation and care. If customers choose to have it shipped to them, the watch will be sized to their specifications, carefully packed, and sent promptly. 

To learn more, visit www.troverie.com.

 

Hearts On Fire Announces Three Promotions 

Boston, MA—Hearts On Fire has promoted Krista Beerman, Joshua Gilbert, and Albee Schimanski to vice president positions at the brand. Beerman a 13-year veteran of merchandising has been named vice president of product; Gilbert, an 11-year veteran in the sales department is the new vice president overseeing all sales functions in the United States, and 10-year sales veteran Schimanksi was named vice president of trade strategy in addition to continuing his role overseeing sales in Canada and the Caribbean.

From left, Beerman, Gilbert, and Schimanksi were all promoted to vice president positions at Hearts On Fire.

 

As Pandora Sales Fall, Its CEO Takes The Fall

Copenhagen, Denmark—CEO Anders Colding Friis has stepped down after less than four years at the helm of Pandora, becoming the fifth CEO change in eight years at the company. The Danish bead brand has been struggling with sales, recently announcing cuts to both its earnings forecast and its workforce. As a result, its stock price has also declined sharply.

National Jeweler reports Friis’ last day will be Aug. 31. On Sept. 1, the former CEO of The Body Shop, Jeremy Schwartz, will join Pandora as chief operating officer. He will run the company together with Chief Financial Officer Anders Boyers until a new CEO is found. 

Earlier this year, Friis had outlined a strategy to speed up production time and reduce repetitiveness of product. The brand remains committed to those changes, says the report. Read more here and here.

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