Coterie, an eyewear brand agency, is targeting the affordable luxury eyewear market
Coterie, an eyewear brand agency, is targeting the affordable luxury eyewear market
Functional glasses that used to be the main focus,
More and more like fashion.
Users' requirements for styles have increased, the frequency of purchases has increased, and many optical stores have seen market opportunities.
Started making fashion glasses.
Unlike the cheaper Mu Jiu Shi and Yin Mi, the brand agent Coterie chose to cut into the market with light luxury glasses.
The introduction of foreign big brands and niche designer brands has a unit price of about 1,800 to 2,200 yuan.
Big-name bags and clothes are made of light luxury, but what about glasses? According to Coterie,
At present, there is a gap in the domestic luxury glasses agency brand, and the user demand is growing.
On the one hand, the spending power of people who buy fast fashion items will increase,
You can buy light luxury products in the future; On the other hand, high-end people such as celebrities who were once keen to chase big names,
Increasingly favor catwalk models from niche design brands or big names, and don't want to wear prominent brand logos.
Compared to other optical stores, Coterie believes they have an advantage in terms of the number of brands they represent and the number of sales channels.
In terms of agency brands, due to the founder's industry resources, Coterie has more than 70 agency brands.
The company's professional buyers take the goods directly from the brand.
Among these brands, big brands such as Tom Ford and Dior account for 30%, and niche design brands account for the majority.
There are also a small number of Japanese handmade glasses and Korean glasses.
Kwong Tingshuo, one of the founders, said that each brand of glasses has a specific fan,
Whether it's a girl chasing stars or a boy who loves Japanese handmade glasses,
You can buy styles that are usually hard to buy here, which increases the brand influence of Coterie.
In terms of sales channels, Coterie is currently mainly offline, with 16 stores in 10 cities across the country.
These include Fangcaodi Sanlitun Sanlitun in Beijing, Xintiandi in Shanghai,
The geographical advantages of places such as Disney have increased their ability to acquire customers.
Coterie Kwong Tingshuo said that it is not open in the community like the treasure island optical store.
Instead, opening in a place with a higher barrier to entry is the difference between them and affordable optical stores.
Sagawa Fujii 62018C1 Trendy Sheet Alloy Full Frame Large Size Unisex Black Myopia Glasses Coterie sells 70% of the glasses sold by Sunglasses,
The main customer base is young people between the ages of 24 and 30, and more than half of them are women.
The gross profit margin is 60%, and the repurchase rate is 42%.
In addition to the slightly lower floor efficiency of large flagship stores, the floor efficiency of ordinary Coterie stores can reach about 24,000.
Due to its positioning as a light luxury fashion, Coterie tries to remove all traditional and functional things when designing the in-store consumption scene.
Previously, there was no in-store lens fitting service because Coterie believed that optometrists and optometry machines would affect the fashion sense of the store.
There are currently four stores with Zeiss optometry machines and do not require optometrists,
According to the customer's own glasses, optometry, glasses.
When it comes to the sales of sunglasses that fluctuate with the seasons, Kwong Tingshuo said that there is no big problem.
Because high sales in the summer can be balanced with the winter.
Moreover, sunglasses naturally have the characteristics of small inventory, easy to transport, and not easy to obsolete.
Therefore, there will be no overstocking.
At present, the main problem faced by Coterie is that the capital flow is difficult to support the expansion speed.
It is also difficult to expand to third- and fourth-tier cities.
In order to solve this problem, Coterie plans to adopt a franchise store mechanism,
And find ways to increase gross margins.
Kwong Tingshuo said that although the average gross profit margin of agent brands in the industry is 60%,
But if they cooperate with niche designers to launch their own brands, the gross profit margin can reach 90%,
At present, they have cooperated with some foreign designers and will launch a cooperative brand next summer.
Coterie has completed tens of millions of angel round investments and is seeking new investments.
It is mainly used for store expansion.
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