“Cancel 2020” was the motto of one of the worst years of contemporary history. Each of us knows and have our own personal stories to tell about 2020. This year has taken so much and so many things we had has granted, like our jobs, our freedom and our loved ones. Our homes have become our haven, our offices, our schools, our restaurants, but besides our personal lives, this year has taken a toll on our economy, many companies could not survive in 2020. CovetED had the pleasure of interviewing the CEO of Covet House, and we are here to let you know all about it.
“Our brand will keep providing the world with inspirations and design. Our legacy has long been built before 2020, and the many other obstacles 2021 or the future may have in store for us…”
But, how did so many companies thrive and kept their business booming amidst this worldwide crisis? We’re taking a look into a company that used the hardships of 2020 to catapult its own success for the years to come. Covet House is a luxury brand that has consolidated its position as the most powerful tool to inspire and to boost creativity over the last few years. Taking pride in its portfolio of clients with whom they work in close partnership to assist in creating the most outstanding interior design projects. Offering 12 brands, more than 2000 products in a dozen categories, over 1300 inspirations, and a wide range of styles.
A Year in Retrospective
We interviewed Carolina Costa, the CEO of Covet House to provide us with a retrospective on how 2020 impacted business, and what strategies Covet House has stored for next year to turn around some of the obstacles that the infamous year has thrown on its path.
Carolina has been the CEO of Covet House for over 4 years, she had the opportunity to watch Covet House from a small curated luxury brand, to a multimillion-dollar business. In her eyes this year was met with a lot of challenges, especially regarding her team. For Carolina the success of Covet House has always relayed on the efforts of each and every employee has put into creating relationships with some of the top interior designers and designs studios in the world. 2020 wasn’t forgiving, Carolina has watched 100% of her teamwork from home two times this year, and for a brand built on relationships “It was difficult, I used to enter the office and see my team interacting, socializing, planning… and with each day I slowly started to noticed less and less interaction and proximity” she explained. Watching her team leave a place she calls home two times in a year, was gut-wrenching, but her priority was the safety and wellbeing of her team “it’s in these times where my responsibility as CEO surpasses the business itself. It’s a business made of people, and Covet House took as a priority its people.”
Becoming close while being apart
Although 2020 distanced business and interactions, for Carolina the silver the lining was that her team has come closer than ever, and relationships were strengthened beside the physical limitations “the team come close while being apart, with online meetings and team-building exercises to keep up not only productivity but also to provide a feel-good ambience and a relaxed environment to boost morality and their mental health” Amidst the pandemic Covet House still was able to produce and deliver its quality designs worldwide, with new strategies to make up for the lack of physical tradeshows, always one of the highlights for the brand, where designers come face to face with the handcrafted luxurious pieces but also to personally cooperate with Covet House brand ambassadors. The brand still made an appearance in early January in Maison et Objet Paris, but with time, every major event and tradeshow was cancelled, and an important part of the year, the international design fair Salone del Mobile Milano, a big investment for the brand was also cancelled. “We were very excited for the fair to showcase the new collection that was not ready at the first fair at Maison et Object, to meet with our clients and to show the pieces live because sometimes the photos do not justice. Besides that, Salone del Mobile Milano, it’s one if not the biggest design fair and the most exclusive one as well “Carolina explained.
To turn around this obstacle, Covet House built a stronger presence online. It was still able to represent its 12 luxury brands in every major digital event of 2020. After opening design showrooms in cosmopolitan cities such as London, Paris and New York, Covet House suffered also with the limitations of visits to one of its major key points, but Carolina and her team turn around this by providing 360 digital tours to its showrooms. “We’re conscient that photos and digital walkthroughs do not make justice to our pieces and our detailed work, but we provided our clients with the opportunity to experience our brands safely and from the comfort of their home.” But more importantly, the brand still managed to keep continuous work, without needing to cut on any human resource, and even more impressive it still managed to surpass the revenue from the previous year while being in a home office premise for most of the year.
In the endgame
No stone was left unturned, and every effort to overturn the difficulties paid off, with Covet House meeting every milestone it prosed to achieve. But what’s in store for Covet House in the foggy future? Carolina puts her faith in online strategies “The presence in the digital world is one of your main weapons, just look at the numbers in the main brand social networks and your active participation on the web. We realized early on with the experience of the other brands of the group that the world is online. By that from an early age, we started to adapt the different networks/platforms that existed in the virtual world to the brands, and we tried to understand how we could play this “virtual game”. We have been feeding people daily with content and inspirations that they are looking. Covet House intends on using a simple formula: talk to an audience that wants to hear them and put “in front of the eyes” of people looking for similar things with their products, our brands. In order to give visibility to the Covet House brand, its website is the ultimate tool to find over 1300 products and inspirations, experiences, catalogues, and different graphic materials that explain and show how big the brand’s online heritage is.
What The Future Holds
Focused and personalized experiences are other strategies Covet House intends to use as an ace for 2021 “With market specialists that are focused on specific countries and cities, will provide a service of excellence, with a 360º service carefully thought-out.” Carolina adds.
All their projects will already be recognized and will have their own notoriety and team specialized project by project, and Covet House expects to become a team of 50 people with various backgrounds, educations and experiences.
“We will be spread in several countries through the various COVET’S franchising (Mexico, Vietnam, Singapore, China…). We will have some renowned brands as our partners in our Marketplace. “ The online store is another big hit and a new focus for the brand, with their presence consolidated online, promoting and using their online store, has become a priority as well.
Much of the future is enclosed in mystery, but for the young CEO the future is not surrounded by mist, the confidence in her brand and team, shines a light on what may 2021 hold for Covet House: “Our brand will keep providing the world with inspirations and design. Our legacy has long been built before 2020, and the many other obstacles 2021 or the future may have in store for us, we used them as an experience, overcome our challenges and build a castle from every stone we may find in our path.” The truth is that 2021 is uncertainty for many of us. Many doubts surrounding the next year, but every day we acknowledge cases of success, inspiring stories from small business owners to international companies like Covet House that fought every moment, with battles won, challenges overturned and a bright future ahead.
Article Written by André Martins
Special Thanks to Carolina Costa, the CEO of Covet House.
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