Tara Jarmon wants to drive forward
It will be a busy year for Tara Jarmon. The Parisian high-end brand has begun a new development phase marked by the arrival of a managing director in April 2015. Founders David and Tara Jarmon turned to Francis Varesano, who was already active as a consultant for the brand. His arrival was followed by an overhaul in the managerial teams at all levels.
In the last few months, Raquel Araujo has taken charge of wholesale and export sales management, Anne Cottin became retail director, Dorothée Rubinski took charge of purchasing and visual merchandising, while Edith Cabane was appointed collections director working closely with Judith Ventura, the Creative Director since 2014, and the founders, both always involved in the collections' creation.
"My arrival corresponded with a dip in the brand's performance. It is acknowledged that it enjoys several assets, which however have not yet been sufficiently realised..." was Francis Varesano's evaluation. "The brand's business is currently worth €100 million at retail value, but it could be worth much more. Our target is to double the network and sales in the next five years," he stated.
Export is the obvious priority to sustain growth. Tara Jarmon's exports currently account for 40% of revenue, and the objective is to reach 70%. The brand's eyes are set on the USA, with a plan for opening a subsidiary and a flagship store, as well as South Korea and China, where talks are under way with potential partners. In the latter countries, the brand used to operate up to fifteen store but is now down to zero after litigation with its former distributor.
Russia is a medium-term priority, waiting for its economy's recovery. Two franchised openings are expected there this year, as well as in Dubai and Abu Dhabi and in Japan, with a first branded store planned by distributor Itochu.
Including retail corners, Tara Jarmon is planning sixteen openings altogether this year, some of them directly managed, notably in Germany and the UK. Currently the brand operates some sixty retail corners, 20 stores abroad and 35 in France, where the network is completed by 250 multi-brand retailers.
Tara Jarmon wishes however to still invest in France, and is working on a new store concept for its enlarged, renovated flagship store that will reopen in September on Paris' Champs-Elysées. Growing from 135 m2 to 350 m², the brand is keen to offer a new shopping experience, a stunning new approach to the customer relationship about which little has been disclosed.
It is a daring approach for the accessible luxury market, which has become very competitive, and after several years of flat sales. "We are trying to offer something unique, for example in accessories, which are assertive and distinctive. And also in our styles, which we describe as edgy; the market is saturated with easily wearable looks, while our identity must remain unconventional," concluded Francis Varesano.
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