Maxim Weinberg Speaking on the Concept of Multi-brand Salon

Within the scope of XIII International Forum "Russian Retail", organized by Adam Smith Institute on March 24-27, CEO of Adamas jewellery company Maxim Weinberg presented a strategic project of Adamas involving creation of a multi-brand store. During open discussion on "formats for the future", he highlighted high importance of a multi-format approach and announced the company's plans for development in this direction, Russian Jewellery Network reported.
The concept of multi-brand jewellery salon implemented by Adamas since 2013 is the first experience of the Russian jewellery retail sector. The idea of this project involves setting up a shop "for the whole family", where a woman of any age can effectively satisfy her needs for jewellery accessories. A single location will feature various styles of jewellery of wide price range, from democratic to high-end prices.
Speaking about pre-conditions of the project Maxim Weinberg noted: “The need for change of concept of the company is dictated by change of demand model by our customers and requirements of our partners in B2B segment. Our analytical studies have shown that young people aged 16-27 will not appreciate a classic jewellery salon. For fashion-focused women following fashion brands it is necessary to look for radically different solutions and it is obvious that our development was largely dependent on malls, with penetration being possible subject to offering interesting and attractive brands for such audience.
At the same time classic jewellery store remains the preferred format for our clients aged 40 +, contributing for the core of the total demand.
Asked about prospects of new brands Maxim Weinberg noted the need to increase their presence in malls: “In my opinion within 5-7 years high coverage and projected “Europeanized” approach to jewellery consumption will secure very good position for our new brands.”