Squeeze is on but success is in the bag
Bag and jewellery label Coquette Red has opened a Melbourne showroom to support a projected business spike.
Coquette chief operating officer Phil Hayes-Brown said the company had opened the showroom as part of its ongoing growth strategy.
"The showroom is in a mezzanine area at the fashion boutique Callipso in Glenferrie Road which is our Melbourne flagship stockist for both bags and jewellery. The other key sales support is in Sydney where our NSW sales agency Jo Hyde Fashion Marketing (JHFM) will be carrying the full range of handbags in their Paddington showrooms."
With this the brand's second season working with JHFM Coquette Red was looking to expand its presence in NSW. It was also targeting the New Zealand market as a growth hot spot.
"We are currently in about 10 stores in New Zealand via direct sales and we have targeted that to grow to triple over the next two years," said Hayes-Brown, adding the brand was currently working with Austrade to find a local agent in New Zealand.
Over the traditionally quiet months of December and January the label had also "Some of these have been fashion retailers who have decided to add accessories to their mix for the first time, perhaps anticipating that there will be more customers in the tighter economic climate who want to freshen up existing wardrobes with bags and jewellery rather than buying new outfits."
While the business climate remained tough, Hayes-Brown said the company was "quietly confident" and expected further growth opportunities to emerge following its participation at the Reed Gift Fair in Sydney from February 21 to 25.
"While the uncertainty is obvious, the new business plus other enquiries pre-fair made us bullish heading into the spring/summer indent sell-in and we're predicting 20 per cent growth over the previous fair."
Meanwhile overseas, Coquette Red jewellery had sold well the US, where it had clinched an account with 10-store US chain The Territory Ahead, leading to expected re-orders from the retailer.