Bolt International has announced it has acquired the local distribution rights for Lola and Grace – a sub-brand of Swarovski Group – and that it will introduce the new collection at the JAA International Jewellery Fair later this month.
Bolt International chief executive Larry Porter said he was confident that Lola and Grace possessed all of the elements to be successful in Australia and New Zealand.
“After seeing the brand [in BaselWorld 2014], the quality of the collections and the price points, together with the complete retail support having been developed by the Swarovski Group – it ticked all the boxes,” Porter explained, adding, “Lola and Grace is a completely developed retail concept that will meld the traditional jewellery retailers with fashion jewellery.”
Bolt International has announced it has acquired the local distribution rights for Lola and Grace – a sub-brand of Swarovski Group – and that it will introduce the new collection at the JAA International Jewellery Fair later this month.
Bolt International chief executive Larry Porter said he was confident that Lola and Grace possessed all of the elements to be successful in Australia and New Zealand.
“After seeing the brand [in BaselWorld 2014], the quality of the collections and the price points, together with the complete retail support having been developed by the Swarovski Group – it ticked all the boxes,” Porter explained, adding, “Lola and Grace is a completely developed retail concept that will meld the traditional jewellery retailers with fashion jewellery.”
Targeting a core female demographic of fashion savvy 20-somethings, Lola and Grace includes a range of rings, bangles, earrings and necklaces incorporating Swarovski crystals.
Although there was arguably no shortage of fashion – and branded – jewellery lines available in the local market, Porter believed the collection was well positioned to take advantage of the current retail conditions and fill a gap in the segment.
“This [fashion jewellery] is currently a category that is very limited as a stand-alone offering in jewellery stores and Lola and Grace presents a quality, price-pointed and focused offering,” he said.
Porter added that since this year’s BaselWorld, Lola and Grace’s global presence had expanded from three countries to approximately 30.
Lola and Grace managing director Nina Müller explained to Jeweller that the jewellery collection was developed as a stand-alone brand, enabling Swarovski Group to “position itself in the younger fashion jewellery sector”.
“Everything about the brand – from the product itself to the price, communication approach and retail experience – intentionally differentiates Lola and Grace from Swarovski in order to engage with a new, younger and more reactive audience that is looking to make the moment,” she added.
While the group’s strategy might be to clearly differentiate Lola and Grace from Swarovski in terms of a consumer perspective, Porter did highlight the benefits of being connected to the high-profile Swarovski identity.
“It’s not often when launching a young brand that there is so much retail support and tools already in place,” he said. “As the managing director of Lola and Grace says in her own words ‘they are a spoilt start up’, but this is something that is a massive advantage in the marketplace. It ensures speed to market with new product and continual development of the brand from product offering through to display and marketing material.”
He also noted that the range hits a price point “sweet spot” within its target consumer base: “Average RRP in the branded jewellery market is reducing year-on-year consistently given current economic conditions and today the key purchasing price is sub $100. With Lola and Grace our opening range has more than 80 per cent of the pieces below $100 with a RRP range from $39 to $149.”
Distribution strategy
Porter said he first became aware of the product after an international contact recommended he view the range at this year’s BaselWorld, with the two parties coming to a distribution agreement quickly after.
“Lola and Grace wanted to work with us and likewise we wanted to work with them. Both their managing director and head of wholesale came to Australia as part of the process and to meet key accounts, which shows their commitment to our market.”
Müller added that Bolt International was the perfect fit for its expansion into Australia and New Zealand: “Lola and Grace is bold, young, confident, and fun-loving. So is Bolt International…There was good chemistry and we share the same positive energy. Plus, Bolt International has the right contacts with retailers that are talking to our target consumer.”
She also pointed to the strong similarities between Lola and Grace’s key launch markets in the UK and Europe and the local Australian and New Zealand markets as reasons for the expansion into this region.
“There is a place in this market for affordable fashion jewellery that offers