Asprey Celebrates 225 Years of British Luxury Opening New Flagship on Madison Avenue
Asprey marks 225 years of the best of British luxury this year, a celebration of both its prestigious heritage and exciting future as one of the world’s most refined and renowned purveyor of luxury goods. The company has much to look forward to as it moves towards its next stage of evolution; there are new owners, a new Creative Director at the helm and a new flagship store for the US on Madison Avenue.
The new 7500 sq ft store on Madison Avenue at 70th Street, is located in the heart of one of Manhattan’s most exclusive residential neighbourhoods. Based on the design aesthetic of the famed London store restored by wellknown British architect Norman Foster, the New York location has been infused with contemporary design touches and an eclectic melange of antiques from Karl Kemp to create an inviting atmosphere, housing its unique mix of old and new, traditional and contemporary.
In defining the future of such a revered brand, the new owners, in tandem with the management team, conceived of an Asprey that would repeat its historical success stories and thrive in today’s competitive luxury arena. Asprey is known for its grand tradition of British craftsmanship and design and for catering to an exclusive audience of the world’s most discerning customers.
The product mix that the new store will house, ever Asprey and quintessentially British, demonstrates the attention to detail and inspired design upon which Asprey built its reputation. Always known for its fine jewellery, watches and silver, Asprey has expanded upon its craftsmen’s talents and created exquisite china, crystal, clocks, baby gifts, luggage, small leather goods, ready-to-wear, objects for the home, rare books, games and fragrance – all packaged beautifully in that coveted purple box.
The new collections are evolving under the talented hand of the creative director, Hakan Rosenius, who came to Asprey with a contemporary take on fine British traditions. The workshops above the Bond Street store in London have just begun turning out Asprey’s newest designs, amongst them ready-to-wear collections for women and men which will arrive this fall, new jewellery lines, accessories and home ware. The new designs include women’s cream swing back coat with black and gold metal cornice embroidery, men’s camel cashmere coat with shared mink collar, 1920’s inspired black onyx and diamonds jewellery, silver trays trimmed in alligator and other precious objects.
In March of 2006, Sciens Capital Management and Plainfield Asset Management LLC purchased Asprey and embarked upon a major restructuring of its operations, including the closing of the former Trump Tower location in New York and the revamping of all its marketing, sales, design and production activities. The appointment of the new Creative Director Hakan Rosenius last August marks a turning point for the brand in its new era.
The new flagship on Madison is one of the latest initiatives in the company’s plan for strategic growth in luxury markets. It brings the number of points of sale worldwide to 20, following openings in Hong Kong, St Moritz, Dubai, Tokyo in the last twelve months and with plans to open in Russia and India in the near future.
In fiscal year ending March 2007 Asprey “Revenues” have been US$42 million, with worldwide “Retail Sales” in owned, franchising and travel retail stores growing +20% versus previous year, excluding the effect of New York temporary store relocation.
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