British-based manufacturer and retailer of luxury mobile phones Vertu is a global, medium-sized company, based in Hampshire, England.
To keep the value of the brand, Vertu mobiles are only available in its own branded stores, concessions in leading department stores such as Harrods and Selfridges in London, and Galeries Lafayette and the recently-opened shop-in-shop at Le Printemps in Paris, as well as other authorised retailers. The company operates throughout 67 countries with over 600 retail outlets, around 90 of which are branded stores – 50 per cent of these are owned and operated by Vertu.
The Vertu product portfolio is complemented by class-leading dedication to lifestyle assistance and enrichment. As the evolution of the mobile phone continues, the brand is at the forefront of delivering tailored, luxury services direct to a mobile handset.
The company is headquartered in the UK, with offices in Paris, New York, Las Vegas, Singapore, Tokyo, Frankfurt, and Hong Kong. Overseeing over 500 employees is Vertu’s President Perry Oosting.
“We have a very interesting retail model, probably one of the best in terms of productivity amongst the luxury brands, with a small box, high price and high rotation,” says Oosting. “We are probably at number one in that respect.”
So does the company have a target for expansion?
“Like any company we plan and forecast,” he says. “Of course, forecasts are subject to change but we are flexible enough to adapt. We certainly have a number of stores in mind, quite an aggressive number compared to where we are today, which will give us a much wider range of owned and operated retail stores.”
However, Oosting has no immediate plans for expansion into new territories, preferring to focus the brand’s growth on its existing territories. “We are still a relatively new company and of the 67 markets that we are in, most are still fairly ‘new’. Within them there remains a vast opportunity for us.”
For the full article, please see the June 2010 issue.
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