Forward looking
Despite possessing a heritage that reaches as far back as 1902 and the fact that the modern-day operation is established in countless markets across the globe, there is absolutely no room for complacency in the Festina Group worldview. The Switzerland-based operation’s forward-looking approach is pretty evident from a cursory glance around its website, where the 100-year anniversary of its eponymous brand in 2002 is referred to as signifying “a firm commitment to the future”, and there are several references to an emphasis on innovation and fresh design.
The methodology becomes dazzlingly clear, however, when you speak to Festina duty free manager Jason Newman, who leaves Frontier Brands in no doubt that this supplier has big plans for TR in 2007. As he notes: “Our ambition is to be one of the biggest suppliers of watches in the travel retail business on a long-term basis.”
The busy annual trade show season that got underway last month with the IAADFS exhibition in Fort Lauderdale is often integral to such ambitious growth strategies, and the Festina Group is no exception. “Festina is growing very quickly in the US and we hope the Singapore show will start the same trend in Asia,” says Newman. “We look forward to seeing our existing clients with whom we have been working successfully, and we want our presence to underline our global image and, of course, increase our client base internationally.”
Judging by the Festina Group’s broadly-based and continually evolving product portfolio, there is every reason for optimism. Brands such as Lotus, Jaguar, Candino, Calypso and the eponymous Festina ensure the supplier caters to every taste and age group. Current plans for travel retail, however, call for a further broadening-out of the company’s appeal.
“The strategy behind our latest travel retail range is to extend the collection of stylish timepieces already offered to include both higher and more economical models to fit more with the passenger profile in mind,” confirms Newman.
One of the most striking results of this strategy is the addition of “trendy” white and black crystal women’s timepieces to the 2007 collection: “These watches are fashionable with a sporty touch, and they appeal to a wide public.”
There is also a greater number of items carrying more readily affordable price tags. “The economic factor is important,” notes Newman, “so we have adapted our brand in general to include affordable pieces for the spontaneous buyer who knows our brand and its quality.”
The TFWA World Exhibition in Cannes this October looks set to provide a focus for the group’s current travel retail plans, with Newman anticipating a host of new developments: “For Cannes we will launch the Calypso brand, for which we are developing a children’s watch, and will extend the Lotus range. For Festina, we are considering the inclusion of a higher specification product.”
The ongoing expansion of the Festina Group’s selection underlines a belief that the contemporary consumer has a variety of considerations in mind when he/she comes to buy a new watch. The modern timepiece, says Newman, is “an accessory that reflects image, feelings and state of mind. Nowadays people want a watch for each situation, be it out on the town, at work or playing sport. Festina has recognised this and our travel retail range gives the opportunity to own a different style of watch for each situation.”
A supplier with energy and ideas to match, the Festina Group has every reason for optimism about its status in global travel retail. n
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