first person

five Questions for…

Guillaume Pottecher was named the president of DeRigo Vision USA this year, steering the company through a complex economy. Here are his views on luxury optical.

EB How is the luxury market faring?

GP Even with many Americans pulling back on spending, the affluent shopper is again buying luxury eyewear. In 2012, the global luxury market is set to grow by more than seven percent to $302 billion.

EB What can high-end ECPs do to improve business?

GP First, by offering brands that are in demand by the end consumer. Second, by partnering with a vendor that you feel comfortable with, one you’ll stand with and invest with—a partner in this sometimes partnerless industry. Last, by having new brands that help the retailer to combat the monopolies that are springing up.

EB What has happened to the aspirational shopper?

GP Too many brands were chasing not enough buyers and, as a result, high-end stores started reducing prices and taking “refuge” in commercial brands. As a result, consumers were waiting for higher discounts. Now the affluent consumers want reassurance that the frame they buy has the ultimate quality, provenance, and expertise.

EB How is luxury product changing?

GP Richness is not any more dependent on one age group or demographic. Luxury plating and precious stones are hot today, and younger consumers might start by buying silver and, when they are comfortable with what it signifies, may shift into gold. Our product must adapt to a full new range of potential affluent buyers.

EB What’s the biggest challenge in your segment of optical?

GP The recent reports of some luxury goods retailers show just how much the high-end shopper has been willing to spend again. We need to educate the sales associates and train the staff on how to successfully sell these collections.

We need to change our thinking to reflect the true growth potential and profitability so together, we can change the game. EB