Wellness watch brand Philip Stein has plans to open five boutiques in the Middle East in the next 12 months as it eyes regional expansion.
Co-founder and president Will Stein told Gulf Business that the company was looking at cities in Qatar, Saudi Arabia, Oman and Kuwait where its products are only sold through existing jewellery stores.
It will also look at further expansion in Dubai and the wider Middle East region, he said.
“For sure we will also expand here in Dubai still,” he said. “I would say we have another probably 10 multi-brand retailers we should go into, another five boutiques and then of course many more hotels.
“But then we are also planning to go into countries where we haven’t been in at all yet for example Lebanon and Jordan.”
Stein was speaking after the opening of the brand’s second UAE boutique at the Yas Viceroy hotel in Abu Dhabi, adding to its existing location in Dubai’s Burj Al Arab hotel that opened last year.
He said the wellness aspect of the brand meant it was also expanding into non-traditional retail channels in the region and globally including hotels, gyms and salons.
“We are selling very well and strong and expanding in the hotel industry where we are in the spas or we sell our sleep bracelet in the rooms.”
Philip Stein watches and other items are also being sold on 17 airlines and will come to Dubai’s Emirates next March, he revealed.
Since launching with a line of watches integrating ‘ natural frequency-based technology’ in 2003, the husband and wife partnership of Will and Rita Stein has expanded into other products including sleep and fitness bracelets, jewellery and even a wine wand.
Stein said the brand also planned to launch the first wellness “consumable” integrating natural frequency technology for hotels and restaurants, but declined to give more details.
Through the company’s wellness focus he said sales in the Gulf were up this year despite general pressure on traditional luxury retailers and brands linked to slower economic growth and low oil prices.
Globally sales are up 15 per cent in 2016 and higher growth is expected next year with the new product line, expansion in Southeast Asia and a recently signed online sales partnership in China, according to the co-founder.