Just a few short years ago German brand Thomas Sabo was on the rise in Canada, opening multiple locations across the country (Vancouver, Calgary, Edmonton, Toronto, Winnipeg and Montreal). In 2017 the German brand had 16 stores across the country and had teamed up with Canadian sales agency Nouvo Luxury Group to strengthen its position in the Canadian wholesale market.
“We intend to take Thomas Sabo to the next level in Canada by capitalizing on the brand’s equity through both traditional and non-traditional strategies and sales channels,” said Steve Turac, co-founder of Nouvo Luxury Group.
However, the company has decided to restructure its retail model and instead to focus on the wholesale channel including independent jewellers, department and chain stores. They are re-launching two flagship locations at the Eaton’s Centre Toronto and Carrefour Laval in Montreal.
“Thomas Sabo has decided to restructure its Canadian activities. A newly created company (TS e-commerce Ltd., Canada) will focus on the most relevant parts of the business, i.e. the online activities and continue its partnership with Nouvo Luxury for its wholesale channel” read the company statement.
The company added that its wholesale business would not be affected by the decision. In fact it is predicted that this move will increase wholesale sales significantly.
“We are convinced that this allows Thomas Sabo to sustainably maintain and strengthen its global presence and will lead to a strong and healthy representation of the Thomas Sabo brand in Canada,” it said.
Other jewellery and fashion retailers are following suit and re-structuring their models: Bench, Forever 21, Links of London, Payless and Topshop.
