Akshara Manohar is a Strategist retail and brand consultancy Fitch. Her role includes mapping the clients brand, business landscape and uncovering consumer insights that lead to functional and experiential strategies. Fitch’s portfolio includes H&M, Ann Summers, Stella McCartney, Ford and Lego.
Here Manohar talks to Cosmetics Business about how to create the perfect flagship store and which brands are leading the way.
What is a flagship store?
The term ‘flagship’ is of nautical origin; it refers to a ship that is the largest, fastest, newest, most heavily armed, most well known, or the lead ship in a fleet.
With that comes our understanding and expectations of what we mean when we say flagship store. It is usually the most unique and most experiential retail store in a brand’s portfolio.
What is the purpose and value of a flagship store?
The purpose of a flagship store transcends commerciality, size and quantity of footfall.
The purpose of a flagship store can range from showcasing the complete offerings and newest products supported by world class service, to a more specific purpose like building confidence around a particular target audience by selling a story, or celebrating a brand’s heritage.
One can never underestimate the value of a flagship store, if done right it has the power to capture new audiences and sustain old – it’s not just the quantity of footfall but quality too.
Essentially, they have the potential to become tourist destinations in their own right.
What makes a flagship store different from a regular retail space?
Some of the obvious differences we have noticed are:
- Different or exclusive product ranges and merchandise
- More service functions (e.g. custom