Swarovski, the well-known crystal supplier, has unveiled its latest concept store called Instant Wonder. Described by the creative director Giovanna Engelbert as a “crystal candy store of escapism,” this vibrant and enticing boutique is located on the renowned Champs-Elysées, positioned opposite prestigious fashion brands Christian Dior and Moncler. The opening of this store signifies a larger transformation within Swarovski and the brand’s repositioning, spearheaded by CEO Robert Buchbauer.
Swarovski has long played a significant role in the fashion industry, supplying crystals to renowned fashion houses worldwide. However, in recent years, the brand has faced challenges that led to store closures and employee layoffs. Buchbauer openly acknowledged these difficulties and emphasized the need to streamline operations and consolidate the brand under one roof. Despite a decrease in turnover, the brand’s online business performed exceptionally well in 2020, accounting for 30% of total sales. With this in mind, Buchbauer is optimistic about Swarovski’s growth prospects in the coming years.
Engelbert, with her background as a fashion editor, brings a fresh perspective to Swarovski. Her designs, showcased in the new Instant Wonder concept store, feature vibrant colors and intricate crystal jewelry at affordable prices. The brand aims to highlight the purity and design of its materials, providing customers with a sense of joy and accessibility.
Another significant shift for Swarovski is its focus on the luxury market. The brand has abandoned its wholesale partnership with low-cost Chinese manufacturers and instead plans to collaborate with high-end fashion brands, expanding its presence in the upper segment of the market. This strategic decision aligns with Swarovski’s ambition to position itself as a luxury brand moving forward.
The Instant Wonder concept store perfectly reflects Swarovski’s new direction. Its whimsical and inviting atmosphere showcases the brand’s commitment to providing an immersive and enjoyable customer experience. Swarovski’s optimism for the future is evident in its plans to open more flagship stores, potentially including collaborations with other brands and the introduction of dining establishments.
Despite the challenges faced by the brand, Swarovski’s unwavering commitment to quality and innovation remains a cornerstone of its identity. As it continues to evolve and adapt, Swarovski aims to reclaim its position as a leader in the crystal industry.
Link 1: Official Swarovski Website
Link 2: Business of Fashion article on Swarovski’s new era
