You are in:
Head’s first dive
Why is Head jumping into the swimming pool?
The Head Group [includes] the brand Mares - a leading player in the sub-aquatic category. Our strategy was to use the expertise of Mares designers to move laterally into an associated aquatic area, leading naturally into swimming. Out of this challenge grew Head Liquidskin Swimwear. The technical expertise of Mares married to a global brand in Head – a label renowned for innovation and design – it is a powerful combination!
In terms of global brand notoriety – with Andy Murray, World Championship skiers, and frankly everyone in the UK must have had a Head bag at some time - Head is already a household name.
Is there room for another brand in the competitive swimming market?
Yes. Globally, swimming is a serious business. The estimated retail value of the global aquatic market place is around €8 billion, and in Europe, swim textiles are worth over €600 million at retail, with accessories worth over €300 million. Domestically, the aquatic market is worth in excess of €300 million. The UK accessory market is estimated to be worth €50 million, [of which] some 90% is already catered for by the sports stores, but less than 40% of the UK’s aquatic textiles are sold through sports stores, so there is a great opportunity for sports stores to grow their market share. That gives you the basis to our thinking.
How is the sub-aqua expertise of Mares going to be applied to swimming?
Mares takes a major slice of the mask, snorkel and fin business in sub aqua, and its Italy-based design team has some exceptional, patent-registered concepts that can trickle down into Head Liquidskin Swimwear masks and goggles. Leading this is our bi-silicone technology, which involves injecting liquid silicone into a mould, providing Head with the ability to use two densities of silicone within one product.
So we have the Jaguar LSR+ Mask and Tiger LSR+ Goggle. The harder silicone holds the lens, while the softer element is in direct contact with the face, thus avoiding the ‘panda look’ when removing a mask or goggle after a swim. An added benefit is the amazing suction on the face – it’s just like having an octopus on your face – it’s incredible. No more leakages. This is groundbreaking technology.
Do you have any early sales indications?
We have achieved our Spring Summer 2010 budgets across all markets, while carefully growing export business, which, over time, we envisage being a great opportunity for growth.
How much marketing support is Head devoting to Liquidskin Swimwear?
It is something that will develop over time. We are concentrating our efforts on providing quality product to the trade first, and we want to make sure we have the product in place so that consumers can buy it with confidence before we start working with athletes.
With the well publicised, new performance suit regulations having come into effect in January 2010, it will be interesting to see what develops. There remains some confusion among dealers and suppliers, so it’s a watching brief right now. We are talking to some athletes and we will also consider sponsorship of events and perhaps localised clubs, but that is an action we would always promote through a supporting retailer. We have made a good start with the swim specialists, who obviously have direct connections with the clubs, and we want to foster those relationships.
What proportion of your early sales has been made online?
Initially, about 40% of our UK sales have been via swim specialists operating online and via Swim Club catalogue. From January 2010 we have expanded the sales function with nine people selling in the UK, so I would expect that percentage to drop back as we develop relations within the general retailer network. The existing Head agents are going to be carrying the swimwear line, so the network is already in place.
