Tag: Wedgwood

  • Wedgwood opens tea-room experience in China

    Wedgwood opens tea-room experience in China

    Vintage ceramics firm Wedgwood has opened a new pilot store at The MixC Luohu mall in Chinese Shenzhen. The Tea Room Experience, which invites customers to try out products according to their own style, represents the first move in Wedgwood’s reimagined brand aesthetic, with the new designs expected to be rolled out globally following the Shenzhen launch. Shoppers in the luxury mall will experience a modern interpretation of a fundamentally British mode in the 2nd-floor tea room.

    “China is our key growth market and we are aiming for double-digit growth over the next three years, so we will be looking closely at the new stores to learn along the way,” said Wedgwood VP Paivi Svens. “We hope that our new stores and tea rooms will encourage conversations and inspire people to focus more on their own homes and become confident in expressing their own personal style.”

    The experience was created in partnership with British design firm Checkland Kindleysides based on the brand’s new proposition “celebrating eclectic originals”. The store presents three zones – a Garden Room, a Pantry and a Tea Emporium – that “balance minimalism with maximalism with strong visual articulations of Wedgwood’s horticultural connections”, according to the firm.

    Customers are invited to immerse themselves in the brand history and collections via interactive displays, while more than half of the available floor space is given over to service and experience over shopping – an unusual balance in a small format store. “In-store stylists” remain on hand to encourage shoppers to recombine product groups from the various zones to discover their own style.

    Further executions of this concept store will be built across China later this year, with flagships in key global cities following next year

  • Wedgwood plans China expansion

    Wedgwood plans China expansion

    Wedgwood, one of the world’s best known china brands, is now betting big on China.

    As news broke that Wedgwood’s parent company WWRD was being put on the market by its private equity owners, it emerged that the business is planning a “major” retail expansion in Hong Kong.

    WWRD owns Waterford (crystal), Wedgwood and Royal Doulton china brands. It has 35 stores in China including two flagships in Shanghai.

    Subsidiary Waterford Wedgwood Hong Kong is to buy the assets of its distributor Shanghai Balolong International Trade Co and through that process acquire a number of store leases.

    That move alone will expand the store network to 56.

    “The acquisition of a significant number of Waterford and Wedgwood retail stores from Baolong in China positions WWRD perfectly to engage and meet the needs of affluent Chinese consumers,” group VP Jim Harding said in a statement.

    “This announcement comes at the right time with 2015 set to mark a growing vision for our brands as we continue our commitment to developing the business globally as a leader in luxury goods.”

    WWRD, founded in 1759, was rescued by US private equity company KPS Capital back in 2009 when it collapsed beneath a massive € 800 million burden of debts and pension liabilities.

    Investment bank Goldman Sachs has been appointed to undertake an auction of the business which promises a substantial return on the £82 million it spent acquiring the assets. The business achieved annual sales of US$450 million last financial year and it posted a £36 million profit.

    The financial press tips significant interest in the bidding from Asian investors, given 40 per cent of the group’s revenues come from Asia. A significant number of the group’s products are now manufactured in Indonesia, although the company recently commissioned a new plant in the UK.

    In a statement WWRD said: “As a profitable and strongly performing global business under private equity ownership, options for the next phase of growth are constantly under review. KPS Capital Partners remains firmly committed to achieving the brightest possible future for the brands and employees of WWRD.”