Because Lagos' jewelry dominates the retail space between fine jewelry and more affordable pieces, he has earned the nickname "King of Bridge Jewelry." Pieces range in price from a pair of $200 to-die-for silver hoop earrings to a $1,500 strand of pearls. A Philly touch: The designs etched on his sterling silver "Heart of Philadelphia" necklace echo the columns of City Hall.
Celebrity fans include Madonna, Fergie, Katie Couric, and Barbara Walters. He has sold more than two million pieces, and this year he's on track to sell 90,000 items. But that doesn't mean Lagos doesn't have to tweak his image occasionally.
The Bloomingdale's boutique is actually the third part of a three-part makeover plan. The company relaunched its website in October, and Lagos completed a million-dollar renovation of his Rittenhouse Square store.
Lagos' updated marketing strategy makes sense, especially in these economic times, said Matthew Tullman, president and chief executive officer of the New Hampshire-based consumer behavior research firm Merchant Mechanics.
Shop-in-shops and their less-glamorous little sisters, pop-up stores, help smaller, yet successful, lesser-known brands, like a Lagos, lower overhead costs, build brand recognition, and take advantage of foot traffic in well-established retail spaces.
During the last five years, Tullman said, we've seen them pick up traction at the onset of the holiday shopping season when consumers are most receptive to new merchandise.
"They are really at a tipping point right now," Tullman said. "The public has become accustomed to seeing them and they can appreciate the uniqueness, but it still has a newness and exclusivity to it."
