In the competitive world of watches, one stylish brand from Sweden is popping up (quite literally) all over Asia. We spoke with Alexander Westin, brand manager of Triwa, to discover how they started out, their target market and what their plans are for the future.
When did Triwa enter the HK and Asia market?
We opened up our Asia office here in Hong Kong in August 2015 to be closer to the Asian consumers and our distribution partners in the region.
Who are your target customers?
Our target customers are fashionable, urban individuals aged between 20-40 with an interest in style and design.
What was your retail strategy to start with?
In Hong Kong it was natural for us to establish a pop-up concept that is moving around the city in order to test the viability of different areas and not commit to anything long-term.
Why do you use pop-up stores?
First of all you reach more potential customers with pop-up, compared to fixed locations. Pop-ups allows you to test the viability of different locations in a city in an affordable way and without any long-term commitment.
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Further, being a small brand, pop-ups allow us to focus our investment on the most productive selling periods. Finally I would say that a pop-up strategy preserves the opportunity in a time of declining rents and heavy turnover of retail space, meaning that we get better locations at better prices by waiting with physical permanent shops and focus on pop-ups.
Why did you choose Mongkok and PMQ?
We chose Mongkok due to the high traffic, young consumers and the fact that it is an area in HK where we haven’t sold our products before. PMQ is very different to Mongkok; it is very a creative and design-focused atmosphere, which resonates very well with our brand.
How do you promote your brand/drive sales?
We mainly promote our brand through influencers and social media. Our pop-up stores in the region are also an effective marketing tool for us.
What are your expansion plans in Asia?
We are still a new and small brand in almost all Asian markets and we work closely with our distribution partners, who play a very important part in our expansion, in order to grow our online and offline retail in each country.