Dutch luxury watchmaker TW Steel opened a store in Hong Kong in June. Now they are planning a full-blown expansion. “We wanted to test things first. Hong Kong is such an important market that if you do it, you need to do it right. You can’t make any mistakes,” said CEO Jordy Cobelens of his store at the Harbour City Mall in Hong Kong’s Tsim Sha Tsui district.
The brand plans to open 39 standalone stores and shop-in-shops in first-tier cities across the mainland next year, followed by another 30-35 stores in 2014.
“Stores are definitely the right strategy for us in Asia. You have the full range you can offer. You can really have people experience the brand the way we want them to,” Cobelens said. TW Steel plans to take advantage of lower operational costs in Asia before tapping into other markets.
“The crisis is still being felt among the jewelers, but in Asia the whole middle class is growing so fast,” he said.
photo credit: tw steel