Ahead of the game
With such a globally recognisable brand and an established consumer following, Lacoste was always going to be a popular candidate for travel retail. But whereas many brands have tried simply to transfer a successful domestic formula into travel retail – and failed in the process – Lacoste created a dedicated accessories division.
David Dayan, director of Lacoste Accessories Travel Retail (LATR), says that the concept of a travel retail division illustrated from the start that the company is serious about understanding the channel. Yet a dedicated TR team doesn’t necessarily mean a dedicated product offer.
Dayan is adamant that travel retail exclusive products aren’t the way forward for this brand. “Everybody travels now and people may see one item in a domestic Lacoste boutique in London or Paris, and so it is important to have the same items available in travel retail. We do have some small accessories exclusive to travel retail but this is only 1-2% of our collection. When it comes to the most important collections like leathergoods or the shoes, we have exactly the same as our domestic boutiques.”
Keeping the Lacoste product offer fresh in travel retail has meant introducing new items from the domestic boutiques. Last season, it was Lacoste shoes. “They worked very well,” says Dayan. “I think next season we will see up to 50 points of sales for our shoes, because all the buyers liked them.” He also reveals that Lacoste’s towel range might be available in travel retail from next spring.
The company now has 45 points of sale in travel retail (this is set to soar to 75 between now and June 2007, including openings at Marseilles, Hong Kong, Singapore and Miami , to name a few) and also has a strong inflight presence with sunglasses, watches and belts.
Perhaps the most anticipated of all the openings is the new flagship store on the island of Guam. This 92sqm space is due to open in March in the Tumon Sands Plaza department store alongside such brands as Dior, Louis Vuitton and Chanel.
So far this year sales are up by 35%, especially in the Americas, including New York, Toronto, Vancouver, Mexico, Venezuela and Brazil.
But with 17 locations recently signed in Asia – “We know the Asian people are very big buyers of the accessories so we hope this market will grow for us,” says Dayan – the future of LATR may lie elsewhere as another region warms to the small green crocodile.
“Actually the Lacoste logo hasn’t always been so small,” says Dayan, adding that the new Vintage collection launching in 2007 will include three bags sporting René Lacoste’s original 20cm-size crocodile design.
Looking back on an impressive travel retail debut, Dayan is most pleased with how the brand has grown in stature in the eyes of retailers. “Our operators now consider Lacoste a fashion brand not just a sport brand. In many places we started off in the sports area with Puma or Adidas, and after one season the retailers moved use near to Ferragamo or Bulgari. They see, with our global advertising and our participation in fashion events, that Lacoste is a fashion brand.”
It is this high visibility that is the secret of the brand’s success. “Lacoste is different from other brands in that we come from the sports and we haven’t forgotten our base,” says Dayan. “But we are very active: we organise golf tournaments and tennis, and we can use that success to organise events for our partners in the airports.”
Sponsorship on this scale brings international status and recognition, which Dayan says is crucial in the self-service environment of travel retail. “We always have the best locations, lots of advertising and billboards in airports,” he says, “so everybody knows the brand and selling is easier.”
And with a new store due to open in Bejing next year in time for the 2008 Olympics, LATR has positioned itself perfectly to take advantage of the next great sporting event. n
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