Editor’s Note
This article details the German jewelry group’s strategic expansion into Mexico, beginning with new retail locations in key neighborhoods and with plans for further growth through its local distributor.
The German jewelry group has launched its first points of sale in the department store, specifically in the Polanco and Coyoacán neighborhoods. Furthermore, the company is preparing more openings in the country, where it is distributed by Grupo Ultra.
Thomas Sabo is strengthening its presence in the heart of Mexico. The German jewelry company continues its expansion in the country with the launch of its first monobrand stores in Mexico City. Additionally, the group is preparing more openings in the Mexican market for this year.
According to sources close to the company informed Modaes, the new Thomas Sabo points of sale are located within the El Palacio de Hierro department stores in the Polanco and Coyoacán neighborhoods.
The German company’s plans involve continuing to grow in the Aztec market and opening more points of sale this year. Thomas Sabo has Grupo Ultra as its local partner in the North American country.
Currently, the jewelry company has two other monobrand stores in Mexico. They are located in the Luxury Avenue shopping centers in the cities of Cancún and Los Cabos.
In the rest of Latin America, Thomas Sabo has a presence through the multi-brand channel, in specialized jewelry stores in Colombia, Chile, and Peru, among other markets. Additionally, the company operates in the online channel, on e-commerce platforms such as Mercado Libre, for example.
Headquartered in Germany, the company traces its origins back to 1984 and remains controlled by the founding family, despite the recent departure of its namesake founder. Thomas Sabo was one of the standard-bearers of the charm trend, in which the Danish giant Pandora also operates, albeit in a higher price range.
At the beginning of this year, designer Thomas Sabo, founder of the namesake jewelry company, decided to step away from the day-to-day management of the group and bring in a new CEO.
The 56-year-old entrepreneur made this decision. Despite his departure, the designer will remain linked to the company as the majority shareholder and as a consultant in design development.
Although not yet confirmed by the brand, Gunnar Binder, the current CFO, could assume the CEO position after his departure, while Tony Björk, the commercial director, will take on new responsibilities.
Thomas Sabo, which entered the US market in 2016, operates 137 monobrand stores and 107 shop-in-shops and is present in a network of over 3,000 jewelry stores worldwide.
