The French crystal producer Baccarat aims to increase its turnover by opening new shops and creating modern collections. Anne-Claire Taittinger, the director of its Paris-based shop, says that what ma…
The French crystal producer Baccarat aims to increase its turnover by opening new shops and creating modern collections. Anne-Claire Taittinger, the director of its Paris-based shop, says that what makes Baccarat unique is the transparency of the material, its high quality, the colours, and the innovative design. Baccarat is considered an institution in France and its name is well known all over the world. In 1988 Baccarat was bought as a joint-venture between the Louvre Group and the Taittinger group, the French champagne-producing dynasty. At the beginning of the 1990“s Baccarat was losing money, due primarily to a total lack of market strategy. However, Taittinger had faith in the strength of of the Baccarat name. Since 1995, Baccarat has had fifty-one year-old Anne-Claire Taittinger as its president and new efforts have been made to support the brand and to strengthen sales. Last year the turnover increased 10% and, according to Ms. Taittinger, the problems concerning market strategy are now behind them. In the coming year, 10 new Baccarat shops will be opened, in addition to the 47 already existing around the world. In the next three or four years the jewellery concern expects turnover to increase from the current 25% to 40%, due in no small part to the creation of new collections, which will incorporate both crystal and precious stones together.