Case in point 5—The rol
Innovation helps create diverse premium products in jewellery, home lighting, architectural elements, watches,
Factors for success
Positioning itself as a total lifestyle solutions provider for consumers’ total needs and wants with regard to both home and personal accents
Believes in innovation and reinvention, the company leverages its core competency in crystal towards new and diverse product lines
e of innovation and new product development at retail organisations Innovation assumes a major role at Swarovski and spans several areas—
New revenue streams Swarovski is comprised of two major divisions—
One division produces and sells loose crystals to the industry
The other division creates design-driven finished products
Swarovski has several product lines that it offers consumers and business clients namely—
Crystals—Swarovski crystal components, known by their product brand names CRYSTALLIZEDTM (i.e., Swarovski Elements for fashion) and STRASS® Swarovski® Crystal (i.e., for architecture and light) are essential ingredients of international design.
Consumer and home products—Swarovski’s lines of accessories, jewellery and home décor are sold through over 1150
Couture—The exclusive Daniel Swarovski accessories collection is the company’s couture signature.
Industry—The Swarovski Corporation also includes four industrial brands—
Tryolit® is for manufacturing grinding tools
Swareflex is for road safety reflectors
Optik produces precision optical instruments
Signity is Swarovski’s brand for genuine and created gemstones
This diverse range of product offerings enables Swarovski to increase its revenue streams, serve diverse business and consumer segments and also increase its breadth as a major player in the crystal industry.
Every year, the brand comes out with two collections, Spring/Summer and Autumn/Winter. The range is a rich and diverse assortment of fashion accessories, jewellery and Crystal Living products. Over 1000 SKUs are launched each year. The products are available across categories, and include sparkling jewellery, charms, Swiss-made watches, crystal figurines inspired by nature, leather wallets, clutches and bags.
New distribution channels
Swarovski views India as a high-potential market for growth and is creating new avenues from which it can reach customers.
In addition to developing its presence in the metropolitan cities, Swarovski also opened dealer stores in Tier II cities and plans to be present at the new airports in Delhi and Mumbai.
With the launch of watches in 2009, the brand has been retailing its design-led watches in their stores and at premium watch stores/ outlets. The company plans to continue to offer watches through specialised watch outlets and with the launch of its watches, has created a new distribution channel.
New customer groups
Swarovski constantly innovates itself to appeal to its target Indian consumers. Swarovski notes that sales growth from its target consumers, across age-categories, have been growing robustly.
The brand is popular with younger Indians who are drawn to the brand’s contemporary fashion accessories.
Swarovski’s jewelry collection appeals to urban professional working women.
Swarovski’s Limited Edition range and larger Crystal Living figurines are extremely popular with the crystal lovers and/or Swarovski Crystal Society members.
(Source: Primary research interview with Swarovski India)