New York’s legendary Fifth Avenue boutique, Henri Bendel, has announced that it would no longer be selling clothing. Instead, the chic boutique will focus on marketing accessories, beauty and gifts; however, Henri Bendel will not lose their reputation for have shimmering bright goodies anytime soon.
Right out of the gate, their new merchandise will be packed with crystallized-Swarovski elements. CEO of Henri Bendel, Ed Bucciarelli, has stated that "our girls love bling and shine and shimmer," which would explain his statement, "Swarovski-enhanced product is approaching 15% of the total."
Swarovskified Shops
Designs from the Henri Bendel & Swarovski Collaboration
Trend Themes
1. Crystal-clad Merchandise - There is an increasing trend towards merchandise, particularly accessories, being enhanced with Swarovski elements to cater to consumers' love of bling and shine.
2. Shift Away From Clothing - More and more boutiques, like Henri Bendel, are choosing to forego selling clothing and focusing on accessories instead, presenting an opportunity for companies who specialize in accessories to expand their market share.
3. Luxury Gifting - With the focus on accessories and gifts, there is a growing trend towards luxury gifting, presenting an opportunity for companies that specialize in customizable, luxury gifts to broaden their client base.
Industry Implications
1. Fashion and Accessories Retail - Retail companies that specialize in accessories have a chance to capitalize on the shift away from clothing sales as consumers seek to bling out their accessories with Swarovski elements.
2. Luxury and Personalized Gifts - Companies providing luxury, personalized gifts can take advantage of the trend towards luxury gifting that has arisen as a result of boutiques like Henri Bendel shifting their focus to gifts and accessories.
3. Crystal Embellishment - The demand for Swarovski elements on merchandise continues to increase, presenting an opportunity for companies specializing in crystal embellishment to broaden their reach.