But once they expanded to every mall in America, they had largely taken advantage of their investment opportunity. Rothschild Inc. When store closings failed to turn the company around, it expanded into watches, first in separate mall stores and later in Sunglass Hut locations.
That strategy missed sales targets, and last month Chief Executive John X. Watson, who had executed the watch expansion, resigned. The luxury eyewear group is launching new bio-acetate and bio-based sunglasses styles from its Arnette, Burberry, Emporio Armani and Giorgio Armani brands into global travel retail. To subscribe and manage your alerts from The Moodie Davitt Report.
Click Here. More Brands at this Location View all brands. Say Hello to Sun Perks Get your hands on our brightest benefits. See our COVID response With the goal of helping to protect our customers and employees, we have established an enhanced store cleaning protocol, including the frequent cleaning of all high-contact surfaces. Each pair of glasses will be cleaned after a customer tries them.
We will also adhere to all social distancing requirements. Our associates will be wearing masks and customers should be wearing masks in states where it is mandated. About Sunglass Hut The Headquarters At Sunglass Hut, our mission is to be the premier shopping and inspiration destination for high quality fashion and performance sunglasses.
Step in to style with thousands of pairs for every shade of you. Frequently Asked Questions. The company also entered a joint venture agreement with Sunglass World, the largest specialty retailer of sunglasses in Australia, to open and operate almost 80 Sunglass Huts there. Meanwhile, the company had been working to strengthen its relatively new direct-mail sunglass sales operation.
Some wondered why Sunglass Hut would bother selling its items by mail order, when the practice was often expensive because of the costs related to shipping items and to an increase in returns. In that way, the mail-order operation not only paid for itself and then some , but also enabled the company to reach a wider base of consumers. Sunglass Hut continued to open new store units rapidly in , everywhere from airport terminals to outlet centers and leased spaces in department stores, in addition to its traditional stores in malls and on city streets.
The company also began planning to expand into the sale of prescription sunglasses in selected markets. Testing of the idea began early in the year. In addition to the rollout of SunGear, another new member of the Sunglass Hut family included Sunsations Sunglass Company, which was an Indiana-based sunglass retailer, the national chain of which was made up of stores in 44 different states.
At that point, Sunglass Hut International possessed a 30 percent share of the sunglass market in the United States. The company was operating more than 1, stores throughout the world, with approximately 1, of those being in the United States and the remainder spread throughout Canada, Australia, Europe, Puerto Rico, the U.
Virgin Islands, and Mexico. That year, Sunglass Hut committed itself to two major projects for the future. First, the company entered a joint venture agreement with Royal Sporting House Pte. Under the terms of the agreement, each company would own 50 percent of the venture initially, with Sunglass Hut International possessing the right to purchase Royal Sporting's portion after five years. Another major plan that was set in motion in was the company's entrance into the business of selling watches through a new enterprise called "Watch Station.
The first Watch Station was opened as a freestanding kiosk in Miami's Dade-land Mall, the same place where Sunglass Hut had begun 25 years earlier. The Sunglass Hut strategy is to offer customers a dominant assortment of the most wanted sunglasses in a convenient fun shopping environment, staffed by friendly, knowledgeable sales associates who are trained to provide a high level of service.
The foray into selling watches proved to be a boon to Sunglass Hut's business, giving the company a new avenue of growth at a time when its mainstay business was beginning to suffer financially. As the company entered the late s, profits began to deteriorate, prompting management to implement a program aimed at creating a leaner, more profitable organization.
In , the company closed stores, reduced the number of vendors it dealt with by more than 50 percent, and reduced the selection of brands and styles it stocked by 90 percent.
0コメント