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The Majorica brand is sold in over 100 countries |
SPAIN. As it gears up to showcase its pearl jewellery collections at the IAADFS Duty Free Show of the Americas (Booth number: 1618), long-established Spanish brand Majorica has given an exclusive interview about its progress in the travel retail business.
Majorica USA Sales Manager Duty Free North America Bettina Rubinton told The Moodie Report that the company’s focus would continue to be on what it calls the “5 P’s”: Product, Price, Presentation, Placement and Partnership.
In a significant development for the brand, Rubinton also unveiled plans to open 32 new stores in April, all with fresh merchandising and branding collateral. The new merchandising and display concept will be introduced to travel retail buyers at the IAADFS show in Fort Lauderdale.
Here is the interview in full:
What are the challenges/successes you have experienced in travel retail?
In 2008, Majorica’s North American Travel Retail division had a +24% increase in comp store sales. The challenges for 2009 will be competing for business in a tough economic climate and keeping prices level despite increasing costs. Thankfully, this has been a great year for pearls. Political candidates, celebrities and even the new First Lady love our pearls. Majorica has been featured in many magazines from In Style to Vanity Fair. We have great selling basics and compelling newness that has kept the growth of the Majorica brand steady.
What is the company’s new strategy?
Our focus will always be on what we call the “5 P’s”: Product, Price, Presentation, Placement and Partnership. We will continue to focus on building the Majorica brand location by location. We are currently in over 100 countries throughout the world, and Majorica is sold in thousands of stores, all having different customer profiles. We believe that every store has its own specific customer demands and needs. In this economic climate it is imperative that when launching a new store, we identify who the customer is; this is how we develop our core and fashion assortments by location. This is a basic premise which defines who Majorica is.
Our duty free sales team focuses most of their time and attention on product assortments and analysis. We feel that once we have agreed to become partners with a retailer it is our duty so assist them in driving sales. No matter the size of the store, we strive at achieving a mutually agreed sales, stock and turn plan. We analyse sales by location on a monthly basis and maintain a proactive approach with our buyers.
Please tell us about any exciting developments/new stores.
We are launching our new merchandising and display concept at the IAADFS. We are focusing on increasing the brand identification in the stores by re-imaging our stores with the new merchandising collateral and our new display tower. In April, we are opening 32 new stores. These stores will have the new merchandising and branding collateral.
Who are your key buyers?
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The beauty of Majorica pearls is that they can be worn any time and anywhere; they are perfect for an evening out, a day at work or on the weekends with blue jeans. Therefore, our buyers range widely in age and personality. Young and old, casual or sophisticated, Majorica is a brand for all those with a great eye and classic chic taste.
Travel retail is a very strong venue for Majorica as we are able to offer our buyers products that they see at Neiman Marcus, Saks Fifth Avenue, Nordstrom and Bloomingdale’s at 20% below domestic retail. Majorica has incredible visibility in the domestic market as a result of our distribution to only the best department stores, jewellery stores and speciality stores.
How do you entice your customers to buy?
Majorica was founded in 1890. We have a very long, successful history which stems from one element: designing and producing the right product assortment. Majorica offers compelling timeless designs at compelling prices. Once a buyer tries on a Majorica necklace or a pair of earrings, the chances are they will buy it, [as] the product looks amazing on. We also stand by our product with a lifetime limited guarantee.
* Majorica will be exhibiting at the IAADFS Duty Free Show of the Americas later this month (Booth number: 1618).
For details, contact Bettina Rubinton, Sales Manager Duty Free North America, Majorica USA, tel: +1 305 933 4466, fax: + 1 305 933 3957, or e-mail brubinton@majoricausa.com Visit www.majorica.com
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