The British company DCK Concessions, the world's largest manufacturer of costume jewelry, which owns the brand widely known DIVA, plans to double its sales, which now totals $300 million, or 30 million units of products.
This rapid growth, the company is going to be achieved through a special business model, the so-called fast fashion. Collection of fashion jewelry and accessories vary in stores every week, no one product does not stay on the shelves for longer than two months. This concept of DIVA is no different from the successful concept of the leaders in the fast fashion clothing – Spanish Zara and Sweden's H&M.
«Our principle – keep buyers from hand to mouth a little bit and make us think that if they do not buy the product in a minute, then then this model will not be. In each store, we sell a few copies of jewelry in a particular color. This encourages our customers to go to the store every week», - said «expert» Director of Design and Procurement DIVA/DCK Concessions Vivien Thomason. Full production cycle DIVA takes six to nine weeks, which is almost two times longer than the production of clothing fast fashion, which lasts about four weeks (compared to traditional retailers spend on the same to forty weeks). Vivien Thomason explained by the fact that jewelry has to produce in China and other countries in Southeast Asia, not Europe, as does Zara. In addition, some of the ornaments are made up of small parts, and their production takes even more time.
The spectacular success of fast fashion due to the fact that modern women aspire to look great in any situation and at any time, and fashion trends come and go very quickly – hence the need for more clothes and jewelry. Hence, most purchases are made, and new clothes can be worn only a few times. In this increasingly important to not only the brand, but rather the creation of whole image (which promotes and jewelry). Luxury fashion house has not kept such appetites of consumers – because of a much longer production cycle and the use of manual labor expensive brands can not quickly respond to changing fashion trends. In addition, few are willing to buy expensive clothes and jewelry in the same quantities as the fast fashion.
To meet the tastes of buyers in different continents, DIVA adapt their collections to local markets. Vivien Thomason notes that the most important thing – color matching jewelry skin tone, so the same model can be represented in different countries in different colors: «In Canada, prefer low-key colors, and in Europe is much more vibrant. We conduct research, and our partners, such as TopShop, also give us information about the market. We focus on the clothes they sell, including the color palette».
DIVA Costume jewelry is sold in boutiques of the same name, and in such networks, fast fashion, selling clothes, as TopShop, Etam, Miss Selfridge, Dorothy Perkins, Tammy, BHS, Wallace and Burton. Moreover, the percentage of those sold in stores of clothing and accessories is constantly growing in favor of the latter, and the jewelry is already 7–8% of all goods sold there. This year, DIVA began its expansion in the United States, so that a very optimistic forecasts may be realized.