Memento Exclusives is a brand that many sports memorabilia specialists and admirers stand firmly behind, and we have Managing Director Barry Gough to write for the Paddock magazine his insights on this ever-changing market.
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Changes in the industry
From our perspective, the global luxury market is in very good health. Our sales continue to grow year on year, with the average order value increasing as we are constantly selling more and more high-ticket items, shipping these pieces all over the world.
Memento Exclusives is continuing to launch more luxury race-used memorabilia for Formula 1 teams such as MERCEDES AMG PETRONAS and Sahara Force India and we are in the process of signing more licensing agreements with the teams and high profile players in the motorsport industry. My team designs and produces bespoke corporate gifts, as well as consumer retail memorabilia and both of these, are rapid-growth areas for our business.
Luxury goods is a flourishing industry with many things to offer. We certainly see more luxury sales coming through our direct online sales channel than ever before, and the whole market is changing in this sense as well.
Memento has official license agreements with several Formula 1 teams and all that comes down to absolutely great working relationships with them, we are speaking to them every day.
Customers are increasingly more confident to purchase high-value items online. We are offering more high-value products every year and we will continue to add to our ranges next year as well.
Our client base is thankfully growing in the UK and outside of the UK, especially in the USA and the Asia Pacific.
The motorsport connection
I have personally worked in the racing business ever since I left school, with 10 of those years spent working for Formula 1 teams. We transfer that experience into the design of our products and the day-to-day running of the business.
Memento has official license agreements with several Formula 1 teams and all that comes down to absolutely great working relationships with them, we are speaking to them every day. This helps keep our industry knowledge up-to-date and ensures the authenticity and professionalism of our product range.
Right now, the most important thing is making sure we deliver all of the orders for Christmas as this is our busiest time of the year. Not saying the rest of the year isn’t busy, it’s just that Christmas is pretty hectic!
Our direction is to continue creating more quality and innovative products for our customers in the motorsport industry and to work with even more great teams and brands.
We will definitely continue working to create and retail the best selection of beautiful, innovative and authentic racing memorabilia. In 2017, for instance, we’ll grow our business internationally and expand the number of motorsport teams and brands that we work with.