Boodles MD Michael Wainwright on the importance of client relationships through 2020
Wainwright shares his insights in the Tempus British Luxury Review 2020
2020 has been a year of new challenges but the future is bright for lovers of luxury. In our first ever British Luxury Review, Tempus asks experts from 12 of the UK’s most prestigious brands to shed some light on a year of seismic change and, in doing so, discovers a luxury landscape more focused on meaningful storytelling and fine craftsmanship than ever before. Here, Michael Wainwright, managing director of Boodles, shares his insight into the importance of client relationships as we build back from the trials of 2020…
“While obviously our shops are far quieter than they were, activity at the top end among our very loyal customers has been buoyant. Our coloured pink diamonds, which have become something of a house speciality at Boodles, have been particularly strong. Consumers continue to look for outstanding design and beautiful stones. For me, the definition of luxury hasn't changed.
“Although I wouldn't say that many of our customers actively ask us about [sustainability] in person, we are very descriptive about our sustainability measures on our website, in our brochures and all our communication material. We are using SMO (single mine origin) gold, so we know the sources are good. We have also reduced the number of our diamond supplies from over 30 to around six. This means we can carry out high-level due diligence on all of the companies we work with.
“Obviously, the biggest challenge for us during 2020 has been trying to access the customers who have been nervous about coming into cities. So, we have been finding ways to go and visit them instead – for example, in the summer, taking our Fortnum's picnics with champagne and jewels to our customers’ homes. My hopes for 2021 remain high. We have fantastically loyal customers, wonderful staff and jewellery designs which people like.”