PARIS β Following a major strategic overhaul, Daniel Wellington is pivoting its offer to become a bigger player in the jewelry segment. The Swedish brand, known for its minimalist watches at accessible prices, in May launched a line of charms that retail for 25 euros to 35 euros, placing it in direct competition with Pandora.
In tandem with that, it introduced the Quadro Mini, its smallest watch to date, also aimed at a female clientele. The Charms collection launched with 86 references, including letters, numbers and hearts, and he expects to add between 50 and charms a season.
We have for example created a concept that we call The Perfect Match where you match jewelry with the watch. In addition, Daniel Wellington is preparing to launch its first handbag collection at retail in August, having already added eyewear to its assortment. Liu expects the company to return to profitability this year after a period of upheaval that saw it switch from a wholesale model to a direct-to-consumer system in , before reversing course in the wake of the coronavirus pandemic.
He said the brand turned a profit in and broke even in , before embarking on a loss-making streak. It went well at the start, but then COVID[] came, so we were then stuck with a lot of offices around the world, our teams, a lot of retail stores and retail staff. Daniel Wellington has around 5, points of sale worldwide. The brand last year inked a strategic partnership with American watch manufacturing company Timex, which distributes its products in the U.
Online sales account for around half of revenues, Liu said, reflecting its history as a digital-native brand. Daniel Wellington says it has sold more than 18 million watches since it was founded by Filip Tysander in We were essentially the pioneers in that. The brand has 4. China remains the top market, accounting for roughly a third of revenues, and the company is intensifying its sales push in the U.
