Recently, I was interviewed by the Wall Street Journal’s MarketWatch for an article about Jimmy Choo’s IPO.
As I state in the article, this is an interesting move, as it’s the first luxury shoe to make an IPO move like this, on any stock exchange. A lot could happen to the brand after it goes public. As they’ve stated aspirations to move into Asia, clearly they recognize the wealth being created in this market.
Though they are adding 10-15 stores per year, the geography in Asia is a bit more fragmented and rural outside of the major cities, signaling that this IPO is likely to fuel innovation in their ecommerce strategy – a major possible area of investment. Their retail price point suggests they target luxury locations and even with growth plans, their current size prevents them from having stores in every luxury location, or to compete with the presence of their retail partners like Nordstroms and Saks. Jimmy Choo may see better margins if they were focus this new financing on developing their ecommerce platform to become multinational, multilingual, highly innovative and personalized.
One trend I’m seeing in the retail space is a highly customized ecommerce experience, where buyers can literally see themselves wearing potential goods such as sunglasses through their devices and cameras, and customize or tailor the end result. Jimmy Choo may or may not add those types of capabilities – but if they do, at their price points, they could sell a lot more and reach their full audience of potential buyers—anywhere, anytime with just-in-time delivery.
For example, the company could cater to their wealthier consumer segments, their Hollywood red carpet buyers who potentially could order a custom designer shoe delivered in two weeks, built exactly to their specifications. After all, our research shows that consumers today seek to buy anything they want, any way they want it, from any device – and retailers who succeed are innovating to meet these demands.
Read some of my related research for more:
- Rethinking Merchandise Optimization in the Connected-Customer Era
- Multi-modal Mobility – Ecommerce and All Channel Fulfillment
Jimmy Choo’s IPO – What Does It Mean?
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