The Accelerators: The leaders fueling established companies’ catapulted growth
North American CEO, Cartier
In March, the annual Morgan Stanley report on the Swiss watch industry revealed that, while Rolex remains the biggest watch brand in the world, the No. 2 spot traditionally held by Omega was usurped by Cartier. The company’s revenues surged 40% year-over-year to earn it the billing. Cartier’s North American CEO, Mercedes Abramo, is leading the brand’s expansion into the U.S., the single largest market for the company, to meet that rising demand. That includes opening 10 more U.S. stores over the next year, bringing the total to 40.
What factors drove Cartier’s growth from 2021-2022?
“We made changes that have allowed our boutique teams to have closer relationships with their clients, whether they’re visiting their home-base boutiques, spending time with us online or experiencing Cartier in a new, more curated way. That included [hosting] pop-up boutiques that were warmly welcomed in the communities of Troy, Michigan; Palm Beach, Florida and The Hamptons.
In addition to exceeding the expectations of our current clients, we’re always working to engage new audiences, whether that’s through partnering with an increasingly diverse pool of talent or
communicating via innovative media channels. Most notably in North America, this has meant increasing our presence across TikTok and YouTube.”
What is the biggest challenge facing Cartier and the luxury jewelry industry?
“At the top of everyone’s mind right now is the volatility and uncertainty of the upcoming economic cycles. Current reports show luxury brands faring better than other sectors of the retail industry, but much like we approached the spring of 2020, we [plan to] remain agile and ready to adjust to any complex conditions that may arise.”
What are your priorities for the company going forward?
“We’re expanding our domestic retail footprint across North America, to keep pace with increased demand. This is also reflective of the company’s global increase in the number of boutiques worldwide.
As the migration from major U.S. cities continues, we’re working to meet our clients where they are by bringing the Cartier experience into new markets. Additionally, as North America has some of the highest percentages of global online sales, we’re committed to strengthening and evolving our e-commerce initiatives, ensuring these clients feel they’ve received as exclusive and enjoyable an experience as they would in our physical boutiques.”
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