Travel Retail and Duty Free Business Intelligence    Monday 20 October 2014

WATCHES

Island Companies boosts Frédérique Constant fortunes on Cayman Islands

Published: 05/03/13

Source: ©The Moodie Report

By Melody Ng, Asia Bureau Chief

CAYMAN ISLANDS. Island Companies Ltd posted +61% growth year-on-year in retail sales of Swiss luxury watch brand Frédérique Constant in 2012.

The Cayman duty free retailer said it has “grand plans” for Frédérique Constant in 2013, with additional merchandising and marketing budget to support the brand’s “excellent sales trend”.

Frédérique Constant Caribbean Area Manager Michael Stauber said: “With a partnership spanning over four years and the exciting opportunity for continued growth, we are honoured to partner with Island Companies. We firmly believe that such growth could not be achieved without the personal touch from the professional watch sales team at Island Companies that represents our brand on a daily basis, and we thank this front line for their impressive efforts."

He added: “We will continue to offer elegant GWP and limited edition models, such as our Runabout limited edition series which continues to be a very successful seller at Island Companies."

(Left) Island Companies Ltd CEO Alexandre Tabacoff;
(Right) Frédérique Constant Caribbean Area Manager Michael Stauber
Island Companies Ltd CEO Alexandre Tabacoff credits the brand’s strong performance to his marketing and sales teams. “Michael and I we share the same vision of what is a good partnership to grow sales for Frédérique Constant: it is key to create entertainment around the brand for our customers, and this is what we have done by creating frequent events for the local community in Grand Cayman at The Mansion store. Our marketing team, thanks to original, creative and dynamic marketing best practices, is driving very high quality traffic to our stores.

“On the other hand we are setting daily ambitious targets to every watch sales specialist in our stores in terms of brand presentation to our customers. In this business, the more brand presentations you make the more you sell; there is no mystery. Our sales managers are here to control the conversion rate of presentations into transactions and coach the staff to help them exceed their sales targets,” he stated.

Frédérique Constant is available at the two Island Time stores and at The Mansion store located at Camana Bay.

Frédérique Constant posts +61% sales growth with Island Companies Ltd in 2012