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Renato continues to grow thru 'Direct-to-Customer' approach

28
Aug '08
Renato Watches Inc, the luxury watch company most recognized for building a largely successful brand and customer base through the home shopping vehicle ShopNBC, has announced its 2009 expansion initiatives, which include an aggressive Web, television, and retail strategy driven by its 'direct-to-customer' business model.

In 2005, Renato Watches Inc quickly gained prominence with the successful launch of its Collezioni line of luxury timepieces on the home shopping network ShopNBC.

The company's 2005 television debut generated over $1.1 million dollars in sales over three 30-minute episodes and established Renato as a strong contender in the luxury watch category.

Renato has since established a $30 million dollar-a-year gross business by eliminating traditional marketing, advertising, and distribution tactics typically associated with the launch of a luxury watch brand.

Renato's core success has been based on an alternative, direct marketing business model rooted in direct-to-customer sales through television, the Web, and other mediums.

The "Renato Method," or business model, has enabled the company to generate extensive brand awareness, while keeping overhead and price points low.

With procurements and components from some of the leading watch manufacturers from around the world, Renato's key competitive advantage is its ability to offer the same quality product as any leading luxury watch at a far lower price point, a testament to the brand's rapid success and consumer appeal.

"The Renato brand was built on the direct and interactive relationships we hold with our core customers," said founding partner Daniel Mink.

"We have been able to achieve tremendous success in a very short period of time through ShopNBC by continuing to introduce quality, well-designed luxury watches at an affordable price point.

Our next expansion phase is designed to make our products even more accessible to a wider audience and will provide us with the opportunity to build brand elasticity through other mediums."

Renato's expansion plan for 2009 includes the continuation of sales on ShopNBC as its primary vehicle, supported by international expansion efforts through the Shopping Channel of Canada, QVC Germany, and QVC UK.

Additionally, the company will focus its efforts on the Web with distribution networks through PranaGioia.com (an e-boutique for luxury watches), and continuing with ShopNBC.com (ShopNBC's Web component).

Plans to expand its retail presence through international distributors and sales agents are currently in progress, with a strong focus on Gulf countries such as Dubai, Greece, Turkey, and Cypress.

The expansion plan also calls for the establishment of licensed Renato boutiques in a variety of international markets.

Additionally, Renato plans to focus its U.S. expansion efforts on opening retail doors in domestic, high-end stores such as Tourneau, Saks Fifth Avenue and Neiman Marcus.

In addition, Renato recently received authorization from the Army Airforce Exchange (AEEFES) for the sale of its Collezioni line throughout all army and air force bases, as well as AEEFES' supplemental Web site open to military personnel only.

Renato is also currently working with the leading luxury watch showroomn in New York City to establish a showroom presence in the Fifth Avenue luxury district.

Renato Watches Inc


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