With their eyes set on long term expansion and generational influence, founder
David Yurman of David Yurman jewelry and his wife and business partner,
Sybil Yurman, are looking to new avenues, especially Hong Kong, for their nationally acclaimed jewelry enterprise. Just last February, Yurman opened a retail store in the IFC mall in Hong Kong - its first international store. It is also created an Asian subsidiary with headquarters nearby. Further expansion plans for 2008 include: Macau, Tokyo, Europe, Russia and the Middle East in 2009, likely through wholesale distribution.
On the home front, Yurman has jumped at the opportunity to move its Manhattan New York flagship store from its long-time address at 729 Madison Avenue to the 6,000-square-foot and five-story landmark building of 712 Madison Avenue whose current occupant is Lalique. The Manhattan store and the other retail locations across the nation such as LA, Boston, Chicago, Dallas and Costa Mesa, as well as the Neiman Marcus whole sale distribution, industry sources estimate annual sales around $720 million per year. In addition, revenues continue to show consistent growth of about 20% annually.
The current vision for the Asian expansion is hopeful without being overly optimistic. David and Sybil Yurman are hoping to use the popularity the brand has acquired in the States as a catapult for introducing the brand to the new demographic. They understand that the brand may not experience an immediate warm welcome; they seek to slowly build the brand but make its impression long-lasting and multi-generational. Yurman chief executive officer Paul Blum stated, "We'll feel out the business and will get out there as the brand is more well known. We're not looking at it as a huge business early on." The IMF mall store has the same interior design as the new Manhattan store with dark brown zebra wood, marble interiors and exteriors and an elegant, Japanese-inspired aesthetic. A major marketing and print ad campaign, featuring Yurman favorites Kate Moss, Daria Werbowy and Natalia Vodianova, will support the store opening as well as partnering with charities and organizing sponsorships.
With the new Hong Kong presence already in full swing, and future international sites in the works, 2008 looks to be a busy year for David Yurman - plans for a
David Yurman fragrance are already in the mix for 2008 as well.