Making it in the cut-throat world of luxury retail is undoubtedly tough, but six of the most promising brands are being mentored by top names in the sector. By Charlotte Dennis-Jones
France has Louis Vuitton and Chanel, Italy has Gucci and Versace, the UK has… Marks & Spencer and John Lewis. No disrespect to either – everyone has a place in their hearts for these venerable British institutions – but when you think of retail brands associated with the UK, the luxury market doesn’t spring to mind automatically.
Give it time, though, and there’s a good chance you will. Thanks to an abundance of emerging talent, the word ‘luxury’ will no longer be synonymous only with our European neighbours. And a handful of the most promising young luxury brands of tomorrow are being given a helping hand by Walpole British Luxury, an organisation that promotes and develops brands in the sector.
For the second year running, Walpole has selected six small businesses as its Brands Of Tomorrow. Each business has been assigned a mentor to help overcome the towering hurdles that stand in the way of making it big in the competitive luxury market.
John Ayton, founder of Links of London and chairman of the Walpole initiative, says of the companies chosen: “They showed a real drive to grow their companies, we felt their business plans were achievable and they had enough resources to implement the opportunities.”
Walpole deputy chairman Guy Salter says: “This country doesn’t even begin to have a luxury heritage, but it’s suddenly becoming flooded with talent. It’s never been a more promising time, but the luxury market is very expensive to crack. It’s never been more crowded and it’s very difficult to get investors.”
These fledgling businesses are competing against luxury powerhouses such as PPR, which owns brands including Gucci, Bottega Veneta and Yves Saint Laurent, and LVMH, whose portfolio boasts Givenchy, De Beers and Dom Perignon to name but three.
Theo Fennell chief executive Pamela Harper – mentor to jewellery designer and retailer Shaun Leane, one of this year’s chosen brands – says: “It’s extremely tough, particularly when you think about the big guns of the luxury industry and the wealth and power they have in terms of distribution, advertising and strength of retail space.”
Each year, countless creative geniuses battle to keep their business idea alive. As Harper says: “Over the years, so much talent has been lost to countries such as France and Italy because they tend to embrace their luxury industries in a much more committed way.”
There are two elements to the mentoring programme. The structured component includes group meetings and workshops with key speakers to advise on critical business issues, including intellectual property, PR, marketing and managing finances. The second, unstructured element involves one-to-one meetings on a monthly basis between each brand and their assigned mentor. Each luxury expert is also on hand as and when necessary to advise on any issue, no matter how small or mundane.
Martin Bartle, a former Net-a-Porter marketing director and now managing director of 270 Degree Marketing, is mentor to online and mail order retailer The Fish Society. He says: “This is all about focus; it’s about having someone to say: ‘These are the things you need to worry about’. And it’s about having someone at the end of the phone to ask: ‘Does this make sense?’.”
Importantly, though, it’s not just these emerging brands that stand to benefit, says Ayton. “A lot of luxury brands don’t produce new ideas. They often just take their ideas from smaller, more nimble companies and make them their own. For our mentors, it’s fascinating to work with such passionate, entrepreneurial people,” he explains.
And even if the creators of these brands don’t become the next Anya Hindmarch or Jo Malone, one thing is certain: being singled out for this mentoring programme will help ensure that life as a young entrepreneur is not quite such a lonely business.
Walpole British luxury’s 2008 brands of tomorrow
De Roemer, fashion label and online retailer
Mentored by Harrods managing director Michael Ward
Tamsin de Roemer and Justin Packshaw launched their brand in 2004. Selling cashmere, handbags and jewellery, their aim is to provide “ultra-glamorous fashion for both women and men”. As well as trading online, the ranges are stocked in retail outlets across the world.
De Roemer says the offer of a mentor came at just the right time. “When you launch a business, you can get too close to it,” she says. “We’ll be able to ask Michael about anything and everything, but it will prove particularly useful for some of the bigger decisions – for example, we’re at the point now when we’re looking at whether to bring in investors.”
The Fish Society, online and mail-order fish retailer
Mentored by Martin Bartle, former Net-a-Porter marketing director, now 270 Degree Marketing managing director
Can fish really be luxury? Definitely, says mentor Martin Bartle. “Quality of product, top service and exclusivity is what luxury is all about,” he adds.
Founder and owner Alistair Blair set up the mail-order and online fish retailer in 1995. Products range from everyday favourites such as organic salmon to the unusual like sea urchin roe and the very expensive – a pack of rock lobster tails for £57.30.
Aside from Bartle’s online expertise, which Blair says will prove crucial for its web site relaunch, the company will also benefit from his advice on branding. “We often hear that our logo isn’t upmarket enough. I hope in the course of the next year we’ll be able to upgrade our image,” says Blair.
Ormonde Jayne, perfumer and retailer
Mentored by Pelham PR chief executive James Henderson
Perfume manufacturer and retailer Ormonde Jayne was set up in 2002 by Linda Pilkington. She says part of her uniqueness is the fact she uses ingredients not usually found in high street brands.
Mentor James Henderson has already set out some key objectives for her. “He’s highlighted the areas where I can improve and he has already introduced me to some key people, which will help with my strategy of expanding without taking on outside investors,” says Pilkington.
Ormonde Jayne sells online and through its Old Bond Street store, and Pilkington aims to place her products in high-end department stores worldwide. “[Myself and James] both own companies and we’re both debt-free. His is hugely successful and I’m just starting out, but he understands what I want to achieve. I’m confident – as long as I continue to surround myself with the best in the business.”
The Real Flower Company, florist and online retailer
Mentored by Links of London founder Annoushka Ducas
Rosebie Morton, Tim Hobbs and Karen Watson – a former buying director at Harvey Nichols – spotted a gap in the floristry market in 2003. They wanted to develop and grow a range of flowers with a character and scent they believed had been lost through mass production. “To us, these are the couture products of the flower world,” says Watson.
The business has developed from being a trade supplier into an e-tailer and bespoke floristry service. “It’s important for a business like ours to have critical friends,” says Watson of being mentored by Annoushka Ducas. “It’s so important to have that attention to detail. It’s great to have those business debates with someone who’s done it all before.”
Shaun Leane, jeweller and retailer
Mentored by Theo Fennell chief executive Pamela Harper
Shaun Leane is not short of awards, having been named UK Jewellery Designer of the Year at the UK Jewellery Awards in 2004 and 2005, and then picking up the UK Luxury Jewellery of the Year award in 2006. He started the business in 1999 and, eight years later, his first concession opened in Selfridges. He also recently opened a store in Tokyo.
“Having moved into retail as well as selling wholesale, our growth is happening fast,” says Leane. “This is an opportunity to seek advice on expanding the business in a way that protects the integrity of the brand.” Mentor Pamela Harper is confident about Leane’s future: “He’s got that combination of a fantastic level of creativity and a determination to make it happen.”
Timorous Beasties, design studio
Co-mentored by Walpole deputy chairman Guy Salter and luxury journalist Lucia van der Post
“We didn’t even know how to write an invoice when we graduated from art college,” says Paul Simmons (pictured right), co-founder of Timorous Beasties. Not having a business degree is one of many reasons why Glaswegian duo Simmons and Alistair McAuley say they will find the mentoring process priceless. They founded the business in 1990, and focus on designing surreal textiles and wallpapers, as well as rugs, cushions and lampshades. Last year, the company won Walpole’s Best Emerging British Luxury Brand award.
“We’re at a time now when we need direction more than ever,” says Simmons. “We’ve been going a long time, but we’ve reached this pivotal point where we need to look to expand further and we want to become more recognised on a European-wide level.”
No comments yet