LONDON — Robert Tateossian, founder of the men’s and women’s jewelry brand, is expanding his business with the opening of his first stand-alone store outside London, and long-term plans to roll out units worldwide.
Later this month, Tateossian will open a stand-alone store in Yerevan, the capital of Armenia and its largest city. The 700-square-foot store, his largest so far, will be operated by a local business partner Arthur Yezekyan, co-founder of the Armenian TV station Shant.
Tateossian currently has four stores in London, and select wholesale accounts worldwide, including Saks Fifth Avenue, Harrods, Bloomingdale’s, and Le Bon Marche.
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The partners met after Tateossian featured in a cable TV program about successful men and women of Armenian origin.
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“I had never really planned to open a store in Yerevan, and our meeting was unexpected. I’ve never even visited Yerevan — my family is from eastern Turkey,” said, Tateossian, who was born in Kuwait, schooled in Rome, and later studied international finance at Wharton.
With the Armenia opening in the pipeline, the international retail bug has clearly bitten Tateossian. He now plans to roll out retail locations in the world’s most important cities over the next five to 10 years.
“I am looking for different strategic partners around the world, and the plan would be to open 20 retail stores in 10 years. But there is no rush. I’m very happy with the business and our Web site, which is international, is growing at a rate of 200 percent per year,” he said.
“I have no venture capital partner on top of me, and that makes all the difference. I can create whatever I want,” he said.
Tateossian is also looking to tweak his product mix, boosting the gold component to 30 percent from the current 10 to 15 percent in a bid to boost the value of sales.
This fall the brand will unveil a Rough Stones collection of rocks such as emeralds and black diamonds set in 18-carat gold. Prices will range from 700 pounds, or $1,120, for a bracelet to 40,000 pounds, or $64,000, for a set of black diamond cufflinks.
Earlier this year, Tateossian launched Urishi, a collection of jewelry made from silver dipped in white lacquer, with prices that start at 250 pounds, or $400. Also this fall, Tateossian will introduce a black lacquer component to the collection.
Bestsellers from the overall line include men’s and women’s bracelets, in braided leather and silver, or made from beads and silver. Tateossian said they often become an add-on buy when customers are shopping for more important pieces, and he is always widening the range.