Newsvolt 22/05
TalentVolt Search Group
Smart Talent for Smart Tech | Executive Search & Recruitment Solutions Partners
Edition 5 of our #enterthevolt biweekly Retail & Hospitality Newsletter brings some exciting stories over the last few weeks. Focussing on Retail & Hospitality tech news, we have The Royal Warrants announced, Watches of Switzerland Group PLC continued effort to grow in the US and a lesson to be learned in the Tech space.
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Royal Warrants Handed Out
Earlier this month King Charles and Queen Camilla awarded their new royal warrants. After the death of the late Queen Elizabeth the list of warrant holders were reviewed and the Royal Warrant Holders Association published a new list.
Among the Royal Holders was supermarket chain Waitrose & Partners who is the only supermarket to hold such an honour. Waitrose has a long standing relationship with the royal family having first received the award in 1928 from George V and Elizabeth II in 2002.?
“We are honoured and proud that His Majesty has granted us his warrant, It means the world to all of us, and our farmers and suppliers.” -? Waitrose & Partners executive director James Bailey continuing: “There couldn’t be a more powerful symbol of our commitment to service and quality, and our determination to have the highest environmental and animal welfare standards.”
Other honoured establishments included Twinings and a number of wine and spirit brands. Fortnum & Mason however were granted the Warrant after 28 years off of the list.?
“To receive a royal warrant in 2024 is a big deal,” Tom Athron said. “We are required to demonstrate a rigorous focus on acting for a sustainable future, supporting the country’s rural and farming communities and protecting the arts and heritage crafts, all things that are very close to our hearts at Fortnum’s.
With this review only looking at companies who already held a warrant previously they all still had to re apply. New applicants are set to be reviewed in 2025.
A full list of the Royal Warrant Holders can be found here.
$130 million Jewellery Deal
Watches of Switzerland Group PLC look to grow into the US by acquiring US luxury brand Roberto Coin . As the sixth largest jewellery brand in the US this acquisition could prove incredibly fruitful.?
Watches of Switzerland Group PLC cited branded luxury jewellery as its “core pillar” for growth accounting for 27% of the jewellery market in 2024 rising 10% from 2019
With a lot of luxury brands as a whole feeling a squeeze last year they are starting to see a bit of a comeback. 酩悦·轩尼诗-路易·威登集团 posted a 10% rise in fourth-quarter sales in 2023, 拉尔夫·劳伦 ’s net revenue jumped 6% to $1.9 billion during its fiscal third quarter 2023 and Hermès full-year revenue increased 21%, 2023.
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Many luxury companies are saying direct to consumer channels are aiding in their success. 拉尔夫·劳伦 gained 1.7 million DTC consumers during the first quarter showing its highest growth since the pandemic and Tapestry 's DTC grew 4%.?
With this strong end of 2023 and start of 2024 there is optimism for an uptrend in the luxury market.?
Proof of the importance of a Sturdy App
马莎百货 had to unfortunately apologise to its customers on Saturday 18th due to a fault in their website.?
“A third-party service provider experienced a technical issue which temporarily affected access to our website and app.” - An M&S Spokesperson said
The crash caused a number of problems however was swiftly fixed by 6pm the same day.?
马莎百货 is not the first company this year to have similar issues following a website crash for both Sainsbury's and 特易购公司
Technology continues to rise throughout the retail industry. This issue goes to show the importance of selecting reliable third party partners when designing and launching websites/apps. Having experienced leaders in the correct position will help make the correct decisions in this matter.
And that’s it for our #enterthevolt Newsletter. We hope you have enjoyed this week's newsletter and we look forward to bringing you the latest trends, news and exciting companies in the future. Remember to subscribe to our newsletter on LinkedIn and our Email list for future workshops and advice.
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Kyall Browne - Director of Digital Marketing