Coco de Mer unveils new global growth plan, will be digital-first
Lingerie specialist Coco de Mer had big news on Friday as it announced the “next step" of its customer-focused strategy, “moving from a London focus to global expansion” and a wholesale and digital-first approach.
Exciting though that sounds, it does mean the brand’s London boutique is surplus to requirements and is set to shut for good on 5 March.
The current head office in Seven Dials will be moving to a new space in Primrose Hill where those important wholesale operations will be based, the space also hosting VIP appointments and bespoke fittings. Those currently working in the boutique are being brought into the head office location.
The company said it’s moving to the new strategy that’s all about “creating an intimate experience for our customers on a global scale” after three years in which it has seen “substantial top-line growth and increased profits”.
In fact, a 500% increase in its wholesale division, boosted by a 45% increase in international stockists, plus its “phenomenal” growth online have been combined with some consumer research and product rationalisation to create an operation that said it’s ready for “an exciting new chapter”.
Coco de Mer has spent some time streamlining the product assortment, curating the collections, developing its own-label products across all categories and working on the brand’s mission (which is “to create a haven for female pleasure”).
The offer as it currently stands comprises lines like the Icons Collection (modelled by Helena Christensen), alongside the high-end Mainline lingerie collection (modelled by Charli Howard), the Pleasure Collection of luxury toys and the new Muse by Coco de Mer toy and lingerie collections.
CEO and owner Lucy Litwack said of the new strategy: “We are a brand with purpose, and that is so important to me. We care about women’s rights and we want to reach as many people as possible with our message — to shine a light on the importance of female pleasure.
“We have decided that the best way of doing this is to hone our efforts. We have seen phenomenal growth and expansion of our online business and our wholesale division. Both elements enable our international growth and give us the best way of reaching all people equally, whilst also bringing our team together and ultimately strengthening our performance as the Home of Pleasure.”
She added that it was a “tough decision” to move away from the current model of one standalone store “as the store has become a real destination and such a beautiful space”.
“Where the brand has focused for the last 21 years on this one store in London, we are now looking at possibilities that feel more immersive and engaging for today’s consumer,” she explained, “including partnerships and collaborations worldwide, alongside private one-on-one VIP appointments, really catering for our customer’s desires with the inimitable indulgent feel of Coco de Mer.”
Copyright © 2023 FashionNetwork.com All rights reserved.