For the past five years, since taking over the brand, Emmanuel and Thomas Saujet have been nurturing the U.S. Creed business like a fragrant garden.
The results have been dramatic. Sales volume has tripled, while distribution has grown only 15 percent — to 85 specialty store doors, according to Thomas Saujet, president of International Cosmetics & Perfumes Inc.
He declined to divulge dollar figures, but industry sources estimate that Creed does a retail volume of more than $20 million in the U.S. and, within three years, the brand could hit $30 million.
Thomas and his brother Emmanuel, the chief executive officer, have adhered to the Creed legacy by keeping the distribution airtight. “We plan to continue maintaining the exclusivity,” Thomas said. Emmanuel added that the company is concentrating on building productivity door by door: “The day you open a new location you can’t go back. The biggest mistake is going to the wrong places.”
The Saujet team has fostered greater productivity by continuing to upgrade space and location as well as the quality of staff. The strategy also has involved expanding distribution — primarily consisting of Neiman Marcus, Saks Fifth Avenue, a few select Bloomingdale’s and five Holt Renfrew stores in Canada — in places where Creed doesn’t already have outlets.
Also, the company marked the first anniversary of its first freestanding store, located at 67th Street and Madison Avenue. “We got off to a slow start for a couple of months,” said Thomas Saujet. “But for the past five months the momentum has been building and we are very pleased with the business.” The company’s new Web site, creedboutique.com, also marked its first birthday by tripling expectations.
But the brothers seem more content with protecting and projecting the 250-year-old image of the brand. Emmanuel Saujet observed that the company has resisted pressure to expand distribution “because we are more concerned with being part of history.”
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