At a time when the Watch and Gold Jewelry network is in full change*, H.Gringoire would like to confirm its status as a “jewelry brand”v. What are the arguments? A history of 135 years, a major role in the colored gem trade and a growth policy at several levels.
Find a great selection of jewelry box on Sacastar
< “Before I arrived in 2008, retailers regarded H.Gringoire as a manufacturer who added color to their offer,” explains Yvan Le Dour, the brand’s energetic president. “However, today, place to be stronger, and we have those assets.” Founded in 1880, the company is still in the same location, in the historical jewelry district. From Achille Hourdequin, Gérard Gringoire to Yvan Le Dour, there have only been 5 company presidents. It was bought in 1992 by Pranda, an industrial group listed on the Bangkok stock exchange. Since then, collection creation and development takes place in Paris. The renewed H.Gringoire spotlights the brand’s DNA: semi-precious and precious colored gems. French green or pink amethysts, rainbow sapphires, London blue topazes, tutti-frutti…dreamy words that are worthy of French luxury! “Market demands focus mainly on sapphires (50%), rubies (40%) and emeralds (10%),” clarifies Yvan Le Dour. However, topazes, amethyst, citrine, peridot, iolite, corindon, tourmaline…also have their amateurs. H.Gringoire works with all of these gems.” Our specificity: assert modernity in simple, feminine shapes thanks to discrete settings. “When a customer looks at ring, she should be able to forget its shape and concentrate on the stones and their color combinations. That is why the brand stands out in a window or on a hand,” indicates Mina El Hadraoui, Manager for marketing and products. “In addition to jewelry codes, I use codes from industrial, automotive and fashion design…” What about trends? “We interpret them, but they represent a given moment. Whereas, in luxury, the notion of time is not the same,” answers Yvan Le Dour. “Above all, we hope to widen the access to colored gems on the place Vendôme.”
The strategic role of 375 thousands
“Between 2007 and 2011, the 18-carat gold trade, which accounted for 99% of the market, was affected by speculation that rocketed the price from 15,000 € to 45,000 € per kg. In 2010, I made the decision to not regard 9-carat gold as a sub-product and to give it value by creating Golden 9, a reference to James Bond’s Golden Eye”, explains the manager. With an average retail price at 370 € and an entry level price at 80 €, the new line enabled us to meet retailers H.Gringoire Haute Joaillerie, with models that can reach 40,000 euros. Each of these collections is presented twice a year to retailers, with a 20% renewal rate.” “Although we are attentive to prices, we do not want to turn to distribution chains. They are not our target.
We want to remain on an image network of +- about 500 shops: fine jewelry shops in province, well-established local references, and image shops- fine shops in province, about 1,200 retailers,” he emphasizes. To increase ties with multi-labels and involve them in development, Yvan Le Dour would like to reduce the number of retailers, dropping from 600 to 400-450, and create a Premium club. Membership would enable signing for territorial exclusivities, benefitting from an H.Gringoire window for each season and sharing advertising costs for local media…The introduction of 3 displays, one for each range, wood and leather cases and a catalog, would be included for points of sale in the distribution network.
At a time when brands communicate…
To renew its national distribution, the CEO has 4 agents, 3 of which are exclusive, without counting overseas French territories, Belgium, Holland, Germany…The Pranda group directly covers Asian countries. Before Yvan Le Dour’s arrival, 95% of revenue came from France. On the long term, the objective is for 50% of revenue from France and 50% from export. To increase brand image abroad, a Parisian flagship store is planned to open during the first semester 2016. It will guarantee a Parisian elegance label for H.Gringoire, “In our profession, there are currently names, generic products but few real labels. Whereas a label is an excellent way to communicate with the consumer. It is the message that I am trying to get across to our distributors,” shares Yvan Le Dour. We use various communication tools: a redesigned H.Gringoire Paris 1880 logo, increased press coverage on social networks as well as in collaboration with social events.
That was the case for the partnership with TroFemina 2015, an award given to exceptional women, or an upcoming event during the Roland Garros tennis tournament in May 2016. The brand will be present to invite its best customers. Training for retailers is another of the industrious president’s projects: “Consumers are increasingly aware with the Internet. Sales personnel, the driving force for distribution, has to be able to tell our story, inform customers about the gems, explain our expertise…The Watch and Gold Jewelry network, with 50% of the business, remains above all, a neighborhood market that benefits from a history with customers and their trust. More than ever, retailers are wondering what the future holds for them and they know that they have to react. That is what we have to offer them!”