Folli Follie fashions successful strategy

Updated: 2014-06-20 07:20

(China Daily)

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Folli Follie fashions successful strategy

Folli Follie offers fashion, trends and luxury experience to customers in China. Photos Provided to China Daily


Greek luxury group Folli Follie is one of the key players in China's fashion market. Since beginning business in China in 2002, the group has expanded its network to offer tailor-made products to local customers. George Koutsolioutsos, CEO of Folli Follie Group, met with China Daily reporter Xu Xiao to share his views on fashion and branding as well as its future strategies in the world second-largest economy.

How is Folli Follie performing in China?

Folli Follie's annual sales revenue has maintained a stable increase for more than a decade.

China and Asia are of key importance to FF Group as 58 percent of its total revenues are generated from Asia, with the largest share coming from China.

Although most luxury brands have faced a hard situation in China recently, Folli Follie had sustained growth as a result of strategic and successful positioning of the brand. There are more than 200 Folli Follie stores in China at the moment including boutique stores, counters in department stores and stores operated by franchisees.

We are so proud to see the positive sales performance.

What's different about the China market? Which Chinese city do you think is the most fashionable?

We have an insightful grasp of how the Chinese market operates and we aim to further empower our presence in the minds of the local consumers.

The vast population and the remarkable growth rates make China one of the most challenging markets for us.

We have established a solid presence since 2005, but we still acknowledge there is a remarkable margin for growth.

Folli Follie opened its first store in China in 2002 and since then our largest network expansion globally has taken place.

We are currently present in 62 Chinese cities with 211 points of sales, adding about 50 new openings per year. There are many fashionable cities in China such as Shanghai, Chengdu and Hangzhou.

The very first Folli Follie store in China followed the global architecture and philosophy of the brand and introduced the feel-good shopping experience.

The biggest Folli Follie store in the world has been in Oriental Plaza, Beijing since 2012.

Where do the inspirations for the brand's designs come from?

Folli Follie has special teams of designers that have succeeded in presenting collections that bear the iconic Folli Follie motifs translated not only in jewelry but also in watches and handbags.

For example, over the past few years, the Folli Follie consumer follows the exciting journey of the Heart4Heart motif, from a very successful global best selling necklace, to an exciting watch collection.

Women nowadays have come to evolve beyond "following the trends".

They always seek items that can complement their looks and that emphasize their personal styles.

In Folli Follie, we respect that and have incorporated it in our design philosophy. This is the reason why Folli Follie doesn't produce simply two collections every year.

On the contrary, we constantly feed the fashion-conscious women of the world with collections, special lines and flash collections that answer to their needs for renewal, change and diversity.

Being an international fashion and lifestyle brand, we share our designs with our consumers globally.

Part of the Folli Follie philosophy is answering to the specific needs of the markets in which we operate.

Offering limited edition collections or items to key markets and for specific events, we form part of our local strategy.

For example, this year we were inspired by the Year of the Horse and created a beautiful pendant that received very positive feedback.

On top of that, we are implementing an ambassadors' scheme in key markets, choosing inspiring personalities who stand out because of their fresh, uncompromised sense of styles and can easily relate with the Folli Follie DNA.

Soon we'll be in place to announce in a rather impressive way the Chinese ambassador for Folli Follie.

We believe that our Chinese fans will be very excited to learn about this collaboration.

As a Greek company, how do you see the business and cultural exchange between China and Greece? What similarities and differences do you find in the fashion industry in the two countries?

One cannot overlook the strong Greek-Chinese bonds.

The two countries, aside from strong business relationships, share the legacy and the "burden" of two of the world's most influential ancient civilizations.

This fact will always underline a feeling of mutual respect among the two countries and their people.

In Folli Follie we believe that both commercial and amity relations among the two countries will even grow stronger in the coming years, with tourism being a strong and growing vehicle. What is very interesting with Chinese consumers is that they demonstrate an unprecedented "thirst" for fashion and design - and I believe that this is one of the reasons Folli Follie has received such a warm welcome in the country.

There are many common points of reference for both Greek and Chinese women in terms of fashion, as the women in both countries have grown to be more sophisticated, placing more emphasis on their appearance without "suffocating" their personal style.

In both countries, women incorporate ethnic references in their jewelry and accessories, and love rose-gold finishing in their fashion jewelry.

A difference one may notice is that women in Greece tend to choose oversized and bulky pieces whereas Chinese women go for more discrete elegance.

What's your understanding of fashion and the brand concept?

Folli Follie is an international lifestyle fashion brand that creates and offers fashion on an international level.

The philosophy of the brand lies in offering a "full fashion concept" of branded, trendy jewelry, watches and handbags that enhance the feel-good factor and add a luxurious lifestyle to the lives of modern women.

For us, fashion has a cosmopolitan feel and needs to be designed to address the needs of the woman about town.

Our niche in the market came through applying innovations, unique techniques and experimenting with combining different materials in the jewelry-making procedure.

Today, we have established an even stronger niche in the market as we are all witnesses to a turning point in the fashion industry, given the global financial condition.

Consumers globally seek and demand top-notch design, excellent services, quality products and uncompromised style.

And at the same time they are very considerate in terms of the money they spend.

In a Folli Follie store anywhere around the fashion aficionados can find the item that expresses their personalities in prices that make it irresistible.

With a history of more than 30 years, how does Folli Follie stand out among acute market competition?

Folli Follie is a lifestyle accessory brand that is always there to set the ground and establish trends. Folli Follie has built a strong competitive advantage based on its effective positioning.

We offer fashion, trends, excellent overall customer experience, all wrapped-up in prices that no one can resist without ever compromising quality.

We carefully choose materials that are durable and fashion-oriented, such as ceramic and stainless steel that produce alluring results, but always keeping in mind the needs of the modern consumer.

Moreover, the continuous offering of amazing new collections and additions to statement and best-selling Folli Follie collections throughout the year, keeps our customers satisfied and fully aware that there is always a new item waiting to be discovered at a Folli Follie store.

 

 

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