Hot Diamonds plans new growth strategy

With a new management in place four months ago, Hot Diamonds, a renowned jewellery brand has chalked new growth strategies for 2011. Based on extensive market research in the UK and globally, the brand wants to reposition its image oj jewellery from higher price-points and aspirational pieces to also offer volume best-sellers with contemporary appeal at attractive price points.

The new team is looking at a portfolio of proven best sellers, and is implementing a Concept Pod Strategy, through which it will generate monthly concepts for global market testing, based on range analysis, market feedback, trend analysis and “pure instinct”. Successful concepts will be materialized into the brand’s seasonal ranges. The brand has already worked on its initial concepts with established guest designers.

As part of its new strategy, the brand has reduced its product’s time-to-market, in a market where trends change quickly. It is also reviewing its current pricing.

After the exit of managing director Jonathan Crocker and creative director Large, owner Sanford Simpson has been playing the role of managing director with a strategic team of managers.