Singularu bet on retail: 90 openings scheduled for 2020
Singularu, the valencian brand of jewelry manufacturer, decides to invert in physical retail: the goal is to reach 90 stores in 2020.
This brand, born as an e-commerce in 2014, thanks to Cristina Aristoy y Paco Tormo, is now able to sell around 15,000 jewels a month.
Their business model is inspired by the one used by the giant Inditex: local production, fast suppliers, quality and personalized attention. The speed in production allows you to have a lot of variety, based on new trends, and new products constantly: their main focus is on quality, and not on quantity.
Singularu produces its jewels in Spain: its factories are located in Catalonia, Extremadura, Andalusia and La Rioja. This factor allows maintaining a national production, to create and commercialize new models of jewels in record time
Currently, Singularu is present in Spain with 4 physical stores (two in Valencia and two in Madrid), while it sells online in most of Europe. In the future, its goal is to reach 90 stores by 2020 with the help of a franchise plan.
The investment is significant, the shops are very profitable and it’s worth it”, said the brand’s financial director, and it is sustained by sales, which exceeded one and a half million euros in 2017 and aspire to reach 4 by the end this year, aiming to double their value in 2019 to reach 15 million by 2020.