Page 20 - TMI Special 10-11 2020 FlipBookv2

INSIDER

Island Jewellers is looking to expand its
luxury watch portfolio with carefully selected,
innovative partnerships.

in the Caribbean in 2019 –with average Between January and September of Cigars, a Pandora franchise, a Swarovski
rates that were three and a half times that last year, the island welcomed a record store, Seafire Supply Co. (resort wear/
of the Dominican Republic and more than 503,000 stay-over visitors, up more than sunglass/etc.) and La Boutique in the Ritz
25% higher than second place St. Lucia. 10% from the year before. Tourists spent Carlton.
Moreover, stay-over tourists represent 80% some $700 million while they were visiting Island Companies’ first store opened
of the visitor arrivals and the average stay- the island during that time, increasing more on the island more than 40 years ago, and
over visitor spends almost six days on the than 8%. Dart took full ownership of the retail group
island. Add to this the fact that pre-COVID, Island Companies sees a lot of retail in 2014. The company has been fine-tuning
the Ritz Carlton in Cayman had the highest potential from these stayover tourists and its merchandise assortments and properties
ADR among all the Ritz properties in residents with the presence of the right for the past few years to better align with
the Caribbean, and a picture emerges of high-end brands, coupled with first-class the changing demographics of the Cayman
the luxury potential of Cayman’s ultra- customer service. market, says Jackson.
appealing clientele. Island Companies currently operates “Island Companies is about growth in
Several additional new ultra-luxury 13 retail locations spread across Cayman line with Dart’s philosophy. We are here as
resorts are expected to open on Seven Mile (including the locations now temporarily a long-term partner in Grand Cayman, we
Beach in the next few years, expanding the closed due to the pandemic): Island are not a fly by night company,” explains
shopping base even further. Jewellers, De Sunglass Man, Churchill’s Jackson. “We are not looking to acquire

Island Jewellers has five locations in Grand
Cayman, including in Camana Bay, Island Plaza
and The Ritz-Carlton.

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