Expansion of Korean companies in various industries – automotive, electronics, computer – becomes stronger throughout the world. Was no exception and the watch industry. One of the young, but successful watch companies, which do not close the circle of its interests in the market of Southeast Asia, is Nexxen.
Young may be called only conditionally. Yes, the clock under a brand name appeared only five years ago. But for more than 20 years, the company knew as a supplier of components. Today, according to representatives Nexxen, the company controls about 90% of market mechanisms in Korea.
The strategic goal Nexxen, which aims to achieve in recent years, all the company’s activities was the development of new markets for her hours and, above all, European countries.
The secret of success
To be recognized in the watch world, where one of the key success factors is the name of the manufacturer and the company’s history, the young firm is not easy. This can be achieved only by offering an original product with a better than grants, price / performance ratio and providing more attention to partners – trade companies.
Nexxen succeed. Proposed to the visitors the latest Basel exhibition the new collection did not go unnoticed at this hour the world’s largest show. Interesting design, developed with the trends of world fashion, high quality and reasonable prices are interested professionals. Geography sales mark expanded: the company has emerged distributors in Brazil, Mexico, and “advanced” with respect to hours, which has its own powerful hour-long German industry. The success in Germany is especially revealing: the Germans know a lot of good things and tend to only buy quality goods.
Before you tear the fruit, it is necessary to plant a tree – that’s the law business. And the leadership Nexxen understands this. Presented in Basel models have been developed specifically for Europe, together with leading European designers.To ensure the quality of the buyer, the company refused to cheap Chinese parts.
A lot of money invested in advertising and sales promotion. All this requires substantial costs, but the only way to ensure no short take-off and long-term success of the recognition and customers.
The key to success in the market are technology. After developing a model – half the battle. Many Swiss companies from design to implementation are months and sometimes years. Nexxen is fast development of new products: the collection first saw the light at the Basel show in April and in May came from Russian distributors. A visitors’ Moscow Watch Salon “will meet as early as next series of innovations.
Novelties Nexxen this year can be divided into four groups. The first – men’s automatic watch in stainless steel. This model, popular in today’s world of square and rectangular shapes. The combination of an automatic mechanism, quality of materials used, careful handling and interesting design watches made attractive to the consumer, but virtually no impact on prices: the wholesale price of these models – about $ 50.
The second group includes a pair (male and female) quartz models, mostly rectangular in shape. This part of the collection is also made of stainless steel, the range of prices unusually low for the hours of such quality; “upper limit” for all models is at 48 dollars.
The next group of models is more avant-garde and varied. Basically this is a square watch on a leather strap; again, many of them are available in male and female variants. There are models made of different materials: brass, titan.
The last part of the collection is designed for women. This is a very interesting design watches oval or rectangular shape in the ground on a metal bracelet. Models are made of brass and stainless steel and can have up to 4 different coverage options. Wholesale prices on watches made of brass are in the range 22, 5-35 dollars on a stainless steel model, about $ 40.
All four groups that make up the collection in 2002, showed very good sales results in the Russian market.
Over the last year sales in Russia doubled Nexxen. This success is the sum of several terms: good quality, interesting design, advertising support and software stores decoration materials (benches, stands, etc.).
It’s no secret that in Russia there are more popular than Nexxen, brand. However, in the tightening competition in the retail market to maintain sales volumes are often forced to shop to get into a price war, making the work with the most popular brands unprofitable. And in this situation Nexxen, while distributors which can keep the market from dumping, allows the store to get even higher returns than from selling other brands.