Where David Yurman Failed: On the Hong Kong Experiment

This banner still exists. (See "Heritage" on DavidYurman.com.)
The pictured boutique does not.

Image Credit: DavidYurman.com

2008 was a good year for David Yurman. In addition to running another highly-publicized ad campaign starring super model Kate Moss, the company embarked on a two-year global expansion, opening not one but two boutiques in the Hong Kong area. By 2010 the brand had established four shops in Asia. Today none stands.

So what happened, what went wrong, and whose fault is it?

This native department store is DY's
only remaining stockist in Hong Kong.
Don't ask its employees where the
product can be located, however.
"David... who?"

I suppose before I go any further I should make full disclosure: Although I planned to visit Hong Kong, I didn't plan to write this article. What I planned instead was to post a quick, clean review of the David Yurman Macau boutique and go on with my holiday. What happened was I ferried to Macau, attempted to visit the DY boutique at The Shoppes at Four Seasons (which, by the way, DY still lists as an open boutique on its website), discovered it closed, and asked myself, What the heck is going on? First, why does DY still list the retailer as active on its site, and second, why did it close?

While I still haven't an answer to either question (David Yurman did not immediately respond to requests for comment), I do have a theory, and it has nothing to do with financial collapses or economic downturns. My theory is that, for whatever reason, mainland China's hyper-wealthy (who far exceed Westerners in visits per year) don't want what David Yurman is selling. And they want seemingly everything.

Meanwhile, T&Co is everywhere.

There are fourteen Audemars Piguet licensed retailers in Hong Kong alone. There are twelve Cartier boutiques and eight Chopard. Most embarrassing for David Yurman, there are eleven Tiffany & Co. stores. All of these brands are thriving in Hong Kong, while David Yurman can't couldn't.

It seems there's a missing piece to this puzzle. While outwardly it appears DY has, to use a OneRepublic line, "all the right moves in the all the right places" to be successful in Hong Kong, a mysterious something went afoul along the way to cause brand-savvy mall agents to shake their heads and shrug when asked about the brand. An employee for ifc, Hong Kong's most upscale shopping mall, perhaps said it best: "That store is not here."

Indeed, it isn't.