Olivia Burton is a British fashion watch and jewelry brand founded by Lesa Bennett and Jemma Fennings in 2011. The two best friends started their business started using their £15,000 savings as an initial investment. It wasn’t an easy start for them but eventually, the business has become one of the UK’s fastest-growing watch brands generating £15million in revenue in 2016.
The brand aims for affordable and fashionable feminine watches which, according to the founders were missing in the market for a long time. Many of Olivia Burton watches feature floral designs, butterflies and bees—which accentuate the feminine aesthetic.
In 2017, the company was acquired by Movado Group and became its subsidiary brand with the potential for further growth and expansion in mind. As a result, Olivia Burton has reached a wider aspirational and millennial audience. Despite the acquisition, the founders Bennett and Fennings still have control of the operation of the business, and Movado Group is just there to supervise.
But since Olivia Burton has now a wider audience reach, does this mean that the brand is now considered a luxury brand?
Is Olivia Burton A Luxury Brand?
Olivia Burton is not a luxury brand due to the brand’s aim since it was founded—to sell affordable and fashionable watches for women. As a result, many of its watches are truly affordable and not going over $350. That alone is already clear evidence that the brand is not a luxury one.
Here are the reasons why Olivia Burton is not a luxury brand.
1. It Is A Young Brand
Olivia Burton is a relatively young brand as it was only founded in 2011. This is in stark contrast to luxury brands which have been around for many centuries. For example, luxury watch brands like Patek Philippe and Vacheron Constantin have been around since the 18th century.
While it is possible for young brands to be considered a luxury in a span of a short time, certain requirements must be met. For one, the brand must have a solid reputation which can only be gained through many years of experience in the industry. And since Olivia Burton is still a young brand, it has not yet established such a luxe reputation.
2. The Materials It Used
Another reason why Olivia Burton is not a luxury brand is because of the materials it uses for its products. While some of its watches do use stainless steel, a lot of them are made with cheaper materials like plastic. This is not something you would expect from a luxury brand as they only use the finest and most expensive materials for their products.
Olivia Burton is an aesthetic-focused brand as most of its designs are based on flowers, butterflies, and bees. This is in contrast to luxury brands which focus more on the functionality of their products. Luxury brands prioritize the quality of their materials and construction over aesthetics. While Olivia Burton offers a newer approach to entice consumers, it is not enough to be considered a luxury brand.
4. It Lacks The Exclusivity Factor
What separates luxury brands from regular brands is exclusivity. Luxury brands are only available to a small group of people due to their high price tags. This is not the case with Olivia Burton as its products are widely available. Also, because of its affordable prices ranging anywhere between $100 to $350, anyone can purchase its products without breaking the bank.
5. Locally Made
While a lot of people appreciate that Olivia Burton watches remain faithful to their roots and are made and avilable in London, this is not always good sign if you want the brand to be considered a luxury. Most luxury brands are made in Switzerland as it is known for having the best watchmakers in the world. Nevertheless, it is able to sustain to produce good quality watches, it’s just that it doesn’t have luxury-level standards.
6. It Lacks Global Presence
Lastly, another reason why Olivia Burton is not considered a luxury brand is that it lacks a global presence. Sure, it may have a lot of stores in the UK but it doesn’t have many store locations outside Europe. In order for a brand to be truly considered luxury, it must have a global reach so that its products are more accessible to anyone in the world (with money, of course) to the people who wants to buy luxury items.
Does Olivia Burton Hold Value?
In general, Olivia Burton does not hold value. Just like a majority of watch brands, it is rare for a watch to appreciate over time. This is because of the wear and tear, which means that watches have a lifespan. And considering the price range of a brandnew Olivia Burton watch, it is clear that it is affordable enough.
So, in terms of, when it comes to thinking of reselling a pre-loved Olivia Burton watch and jewelry in the future, it won’t return the same or higher amount of money than when it was initially purchased. In short, the value of the product depreciates over time unless Olivia Burton reaches the luxury level status and its products become sought-after in the market. Nevertheless, it is a good everyday watch to wear as it is low maintenance and will still look great after many years.
Frequently Asked Questions
How did Olivia Burton start?
Olivia Burton was founded in 2012 by friends Jemma Fennings and Lesa Bennett. They are best friends who were ex-fashion buyers that met on their first day at the London College of Fashion. . Their business of making watches initially started with £15,000 from their savings and started their business from the kitchen table.
Can you change Olivia Burton straps?
Yes, the straps of an Olivia Burton watch are interchangeable and can be changed depending on your preference. The brand has a wide range of straps that you can choose from, including leather, and mesh straps.
What is the warranty for Olivia Burton watches?
Olivia Burton offers a two-year warranty for all its products. This covers any manufacturing or material defects but does not cover any damage caused by water, normal wear and tear, or accidental damage.