A meeting with Harrods

[the Chocolate]

I have been contacted by Harrods because they love our product and want to stock it.
I have a meeting with them Tuesday, does anyone have any experience of this, tips etc and what kind of mark up/percentage would they want?
Thank you for any information.

 

[S-Marketing]

Wow, I just looked at your website and can honestly say I had never considered gold to be a 'foodstuff'.

Sorry, cant really help with retailer questions as I deal with marketing service based industries. Best of luck with the meeting though.

 

[WebTrust]

Hi

I can't help, but would you keep us up dated?

 

[deniser]

What they sell it for is down to them. You need to work out what margin you need to make to make it viable for you and then price your product accordingly.

You need to be very clear so you can answer questions on:

1. minimum and maximum order quantities overall
2. minimum quantity per item
3. shipping cost and carriage paid order amounts
4. delivery timescales
5. shelf life
6. ingredients
7. compliance with legislation
8. whether you can offer them own label (they do this quite a lot)
9. packaging
10. price (which may vary according to quantity)

 

[Billmccallum]

I have been contacted by Harrods because they love our product and want to stock it.
I have a meeting with them Tuesday, does anyone have any experience of this, tips etc and what kind of mark up/percentage would they want?
Thank you for any information.

The last person I know who dealt with Harrods was paid on a sale or return basis, but he was making hand printed ties and they expected at least 100% mark up.

 

Brilliant advice from Denise

General rules on negotiation - don't concentrate on price, look at the other benefits you can bring, and how you can work in partnership.

A good buyer (And I'm guessing that Harrods have good buyers) will understand the benefits of creating a deal that works all round, particularly for a unique product like this.

For more advice you could ask DWP (sorry, couldn't resist..)

 

[the Chocolate]

Hi

I can't help, but would you keep us up dated?

Of course, thank you for your interest.

 

[the Chocolate]

What they sell it for is down to them. You need to work out what margin you need to make to make it viable for you and then price your product accordingly.

You need to be very clear so you can answer questions on:

1. minimum and maximum order quantities overall
2. minimum quantity per item
3. shipping cost and carriage paid order amounts
4. delivery timescales
5. shelf life
6. ingredients
7. compliance with legislation
8. whether you can offer them own label (they do this quite a lot)
9. packaging
10. price (which may vary according to quantity)

Thank you.

 

[the Chocolate]

The last person I know who dealt with Harrods was paid on a sale or return basis, but he was making hand printed ties and they expected at least 100% mark up.

I was expecting a figure like that.
Thank you.

 

[MASSEY]

Good luck.

I saw a tv show about someone who was getting a product into john lewis and basically john lewis told the seller what they were going to buy them for. So as mentioned i think it would be better to not focus on price. Hopefully they don't want them at a lesser price than they cost you to produce

 

[the Chocolate]

Brilliant advice from Denise

General rules on negotiation - don't concentrate on price, look at the other benefits you can bring, and how you can work in partnership.

A good buyer (And I'm guessing that Harrods have good buyers) will understand the benefits of creating a deal that works all round, particularly for a unique product like this.

For more advice you could ask DWP (sorry, couldn't resist..)

DWP is in Harrods isn't he?

 

[BizPal]

I once supplied Harrods a fact which played a huge part in the sale of my business in an venture capitalist backed MBO. The market perception (and perception by the VC's) by other potential retail outlets and consumers that if your product is good enough to be stocked by Harrods it must be worth stocking/buying can be invaluable (regardless of whether it's true) particularly for overseas markets. In addition to all the other very helpful advice offered on this forum, I would suggest your objective is to get them to stock it, almost at any cost. You then incorporate the fact you supply Harrods into your marketing and benefit from the borrowed credibility to acquire new customers. Even if your final margin is thin, in addition to the valuable marketing asset you can still benefit as the volume purchases will help your buying power and thus increase your margins possible from other customers. I hope this helps. Good luck.

 

[the Chocolate]

I once supplied Harrods a fact which played a huge part in the sale of my business in an venture capitalist backed MBO. The market perception (and perception by the VC's) by other potential retail outlets and consumers that if your product is good enough to be stocked by Harrods it must be worth stocking/buying can be invaluable (regardless of whether it's true) particularly for overseas markets. In addition to all the other very helpful advice offered on this forum, I would suggest your objective is to get them to stock it, almost at any cost. You then incorporate the fact you supply Harrods into your marketing and benefit from the borrowed credibility to acquire new customers. Even if your final margin is thin, in addition to the valuable marketing asset you can still benefit as the volume purchases will help your buying power and thus increase your margins possible from other customers. I hope this helps. Good luck.

Thanks David, I am of the same thinking, we are looking to break into China and the USA, so having Harrods under our belt, I am assuming will be a big plus to foreign markets.

 

[WebTrust]

Good luck.

I saw a tv show about someone who was getting a product into john lewis and basically john lewis told the seller what they were going to buy them for. So as mentioned i think it would be better to not focus on price. Hopefully they don't want them at a lesser price than they cost you to produce

Any idea what program that was?

 

[deniser]

Thanks David, I am of the same thinking, we are looking to break into China and the USA, so having Harrods under our belt, I am assuming will be a big plus to foreign markets.

I was having exactly the same conversation this morning with someone who does supply Harrods and they said the power of the name in selling to others was incredible.

 

Good luck.

Hopefully they don't want them at a lesser price than they cost you to produce

Actually that's the easy problem - the real problem is when you get to the 'just about' margins.

Notwithstanding (so seldom I get chance to use that word) the prestige of supplying Harrods I would certainly not sell at a loss.

Keep it real, and don't be afraid to say 'I just can't afford to supply at those costs' - that is probably your stongest price tool.

Again, be aware of their needs and wants and establish whether there is anything else you can sweeten (see what I did there?) the deal with - low cost to you, high value to them..

 

[BizPal]

Just to clarify a point in my last post, where I said to get into Harrods "almost at any cost". I really should have clarified that better and said "even if only at break-even" as the potential benefits for future sales elsewhere may far outweigh the lost margin. It really depends what your expansion plans are and if you need to make a margin from Harrods now then stick to your guns. However, if you're new in the market you're not in the strongest position to demand favourable terms but always try to ensure a win-win if you can. Good luck.

 

[marketingquotes]

First of all, well done on getting a meeting - I have heard that Gold is good and your site is accurate from what I have heard (nice website btw).

Have to agree with DW - getting your product into Harrods will do wonders and boost your Kudos.

Will look out for it next time I am in there (and depending on the price, may buy some .

Regards,

Marketing Quotes Support

 

[the Chocolate]

Just to clarify a point in my last post, where I said to get into Harrods "almost at any cost". I really should have clarified that better and said "even if only at break-even" as the potential benefits for future sales elsewhere may far outweigh the lost margin. It really depends what your expansion plans are and if you need to make a margin from Harrods now then stick to your guns. However, if you're new in the market you're not in the strongest position to demand favourable terms but always try to ensure a win-win if you can. Good luck.

Hi David
Just out of interest, what did you supply Harrods with?

 

[the Chocolate]

First of all, well done on getting a meeting - I have heard that Gold is good and your site is accurate from what I have heard (nice website btw).

Have to agree with DW - getting your product into Harrods will do wonders and boost your Kudos.

Will look out for it next time I am in there (and depending on the price, may buy some .

Regards,

Marketing Quotes Support

Thank you.

 

[Scousejock]

Very nice website and a product that clearly fits into their market.

As stated even at break even it could be a huge boost to your business to get them on board.

Good luck and let us all know how you get on.

 

[the Chocolate]

Very nice website and a product that clearly fits into their market.

As stated even at break even it could be a huge boost to your business to get them on board.

Good luck and let us all know how you get on.

Thank you, it's heartwarming to receive comments like this, thanks to everyone for contributing to the post.

 

[supermak]

That immense, you shoud be proud if you have brought a product to market yourself, and been approached by a company that if you supply, can turn your small business in a brand name.

 

[deniser]

I'be been thinking about eating gold all morning. Can you really eat it? I couldn't find a place to buy on your site but maybe I haven't looked hard enough. I really want to try some of your chocolates!

 

[vvaannmmaann]

Obviously everyone who has helped you should now receive a sample box!

 

[the Chocolate]

That immense, you shoud be proud if you have brought a product to market yourself, and been approached by a company that if you supply, can turn your small business in a brand name.

Thank you, a lot of research went into the Chocolate and 2 years before it was ready to launch... And yes that was our aim from the outset to be the 'Gucci' of the chocolate world.

 

[Alicatt]

Deniser, click on the product information button. Make sure you are sitting down before you check the price.

The Chocolate - just want to add my congrats. It should be a good match with Harrods brand. Hope it all goes well for you.

 

[JohnnyCash]

Nice site

Gold is The Worlds Most Expensive Food...

• Ancient Egyptians Believed Consuming Gold Gave Them Immortality
• Italian Dukes and Earls Used Edible Pure Gold to Decorate Their Risotto in The 16th Century
• It is Known to Give a Higher IQ
• It is The Universal Symbol of Success, Beauty and Eternity
• Pure Gold Has an Effect in Managing Rheumatoid Arthritis
• It is Reputed To Have Mystic Powers and To Aid Wellbeing
• Possesses Legendary Powers Contributing to a Long and Vital Life

Those statements I've bolded... do you have any proof of this? If you do you might want to link to it from the site as it would add a bit of credibility - pretty important if you want to ask for £200 a box...

If you don't have proof of those... then I think you are on extremely shaky ground by saying they have medicinal properties.

 

[marketingquotes]

I don't suppose you are offering UKBF members a special offer on a box?

 

[papverpoppies]

Love the website, and all the information your supply.

I can see why Harrods are interested - you have a product that is right up their street.

The name is very classy...says it all really.

Good Luck

Pops ~xx~

 

[papverpoppies]

Nice site

Gold is The Worlds Most Expensive Food...

• Ancient Egyptians Believed Consuming Gold Gave Them Immortality
• Italian Dukes and Earls Used Edible Pure Gold to Decorate Their Risotto in The 16th Century
• It is Known to Give a Higher IQ
• It is The Universal Symbol of Success, Beauty and Eternity
• Pure Gold Has an Effect in Managing Rheumatoid Arthritis
• It is Reputed To Have Mystic Powers and To Aid Wellbeing
• Possesses Legendary Powers Contributing to a Long and Vital Life

Those statements I've bolded... do you have any proof of this? If you do you might want to link to it from the site as it would add a bit of credibility - pretty important if you want to ask for £200 a box...

If you don't have proof of those... then I think you are on extremely shaky ground by saying they have medicinal properties.

So, eating chocolate is not bad for you, so long as it is dipped in gold.
Sure beats taking medication..where can we sign up for the free NHS trials.

Pops ~xx~

 

[the Chocolate]

I don't suppose you are offering UKBF members a special offer on a box?

Of course.

 

[DancingWithPoodles]

I first met Jonathan Kelly but she then moved on and now works for Bentalls.
Who are you meeting at Harrods? Yioda? or Caroline? or Sabrine? whoever it is I know them all personally Just say you know the owner of DWP chocolate and you close friends and you sorted... Say to Caroline that she ows me a cocktail

Make sure you get into the store because after the first year you can amend the terms and conditions. i doubt you will make more than 20% profit on your products altho i am making 80% but i am a good negotiator and know how to deal with people (hint: go and invite them for an after work fun)

 

[the Chocolate]

So, eating chocolate is not bad for you, so long as it is dipped in gold.
Sure beats taking medication..where can we sign up for the free NHS trials.

Pops ~xx~

The benefits of eating chocolate over 60% in cocoa content are striking, apparently.

 

[the Chocolate]

I first met Jonathan Kelly but she then moved on and now works for Bentalls.
Who are you meeting at Harrods? Yioda? or Caroline? or Sabrine? whoever it is I know them all personally Just say you know the owner of DWP chocolate and you close friends and you sorted... Say to Caroline that she ows me a cocktail

Make sure you get into the store because after the first year you can amend the terms and conditions. i doubt you will make more than 20% profit on your products altho i am making 80% but i am a good negotiator and know how to deal with people (hint: go and invite them for an after work fun)

I think I will pass on the advice.
Thanks anyway.

 

[the Chocolate]

I'be been thinking about eating gold all morning. Can you really eat it? I couldn't find a place to buy on your site but maybe I haven't looked hard enough. I really want to try some of your chocolates!

The chocolate we use has been voted independently 'the finest in the world'

 

[WebTrust]

That is one issue, It's very hard to find how to purchase from your website.

It took me five minutes just to find it!

 

[the Chocolate]

That is one issue, It's very hard to find how to purchase from your website.

It took me five minutes just to find it!

Maybe we need to change the box on the front (product info to product info/purchase)
Thanks for your feedback

 

[the Chocolate]

I was having exactly the same conversation this morning with someone who does supply Harrods and they said the power of the name in selling to others was incredible.

Can you tell me what the product is?
Thanks

 

[Lee Jones Jnr]

The chocolate we use has been voted independently 'the finest in the world'

`Oh? By who?
Ive looked at your website, looks like a nice gift.