Looking at the luxury writing material market for the 2019 timeframe, you can see an expected growth rate that is important and strategic for brands. Brands have worked to make improvements over the last few years and research is showing that it will pay off in 2019. ST Dupont is very active in the Luxury Pen market and the French brand boasts clients from around the globe. The brand has been prominent in looking for ways to increase growth for their products and celebrated with a large party to celebrate the launch of their new website.
The brand website will be up and running with opportunities that have not existed before, allowing customers to buy online. The brand is looking to restore sales to a level they have enjoyed for many years and also take the company to new places, once that customers can have easy access for shopping. While the brand is listed in France, it is controlled by a major shareholder in Hong Kong. There have been some challenges for all luxury pen manufacturers, but hopefully the market is on an upturn as reports show.
Focus for ST Dupont is on marketing, creativity, finance and strategy. Luxury pens are items that officials and companies present as gifts, and with economies tightening it means that every sale is critical. China and Russia are two of the largest markets in the past, but both have suffered with struggling economies, so it is very important to grow other countries, and expand into tourist areas as well as online. France, Germany, the UK and the Middle East are target areas for growth, winning new customers, and showcasing the pens showing that within the offerings there are standard pens, special edition pens, limited editions, and other various choices. Innovation in product designs, features and capturing trends are crucial for future growth.
Key players in the Luxury Pen market for 2019 are highly focused on innovative production technologies and improving efficiency. Optimal strategies for ongoing process improvements and long-term growth opportunities are key in survival for these brands as well as financial flexibility and smart business. What can we expect in the future? Mergers, acquisitions, change and adaptability will certainly be on the horizon. While ST Dupont was founded 143 years ago it was a different world, and they grew because they adapted with time and demand. The products are made in Faverges, sitting at the foot of the French Alps on the shores of Lake Annecy. The brand has partnered with Disney, Rolling Stones, and has created pens with Star Wars theme and a James Bond lighter with a bullet hole in the middle. They know how to capture attention, and have always chosen clients who appreciated their products.
Luxury pens can be diamond and gem-encrusted, or they can take on a more standard look, much like the folks who own them. Advertising has never been popular with the brand, but perhaps that is another area that could change. Relationships have always been key for ST Dupont and other brands in the Luxury Pen Market, but 2019 is sure to bring new relationships, renew old acquaintances, and see just how much ink each brand can afford to lose.
