The Annick Goutal perfumes enterprise, part of the Taittinger group acquired by Starwood Capital of the US in 2005, has reported an 11% rise in sales for 2007 to €11m. Its current head, Brigitte Taittinger, one of the few family members still involved in the former luxury products group, has said that with Starwood's support and in particular its directors, the Sternlicht brothers, the perfumes brand is to expand significantly over the next few years.
Taittinger said to open a boutique costs around €250,000 but with Starwood's backing Goutal will aim at running 30 boutiques within three to five years compared with 11 at present. The brand will also be located in larger points of sale, with two outlets opening next month in London and another in Macao in January 2009. To offset the costs of this operation some smaller boutiques will close. The aim is to operate points of sale which achieve an average of between €500,000 to €1m in sales annually compared with the present situation of some boutiques not achieving even €200,000. Distribution arrangements are also being set up in China and Korea.