The Bishopsgate Department Store
The Bishopsgate Department Store is a luxury retail boutique located in Virginia Beach, VA.
History[edit]
The Bishopsgate Department Store is owned and operated by Dr. Kara Coe, a Greek-American psychologist, philanthropist, socialite, and entrepreneur. Founded in 2013 as an interior design firm, Coe changed the store's business model from service to retail in the Spring of 2018, after the retirement of her mother, MaryAnne Dukas [1].
Business Model[edit]
Despite the failing economy, Coe transformed the 6,000 sq foot space from a furniture gallery with rare antiques, into a boutique department store, offering the highest end goods available on the market. Her belief is that luxury goods are recession proof, and when the economy fails, the wealthy are more likely to spend, than to invest. Around the same time, several iconic gift and clothing stores closed in the area, increasing the demand for such goods. The Bishopsgate business model mirrors the success of international landmark retailers, such as Harrods and Selfridges of London, and offers consumers genuine retail therapy. Strategies employed to increase sales and customer satisfaction include small shoppable departments with high-end brands; the highest quality of customer service; investment in local businesses and charities; developing exclusive relationships with designers and manufacturers; enhancing the shopping experience through techniques like custom ambient fragrance, multi-colored mood lighting, and gourmet offerings; and marketing to customers, who traditionally work with out-of-state personal shoppers[2] .
Current[edit]
The Bishopsgate, rumored to have a cult-like following of customers, continues to attract local shoppers and international celebrities[1]. The launch of the department store's Instasaga Expect Extraordinary, a social media soap opera directed by Peter Eaton, has increased both brand awareness and interest in the inner workings of the retail industry.
References[edit]
- ↑ 1.0 1.1 Pennecke, Sandra J. "Revamped Bishopsgate department store in Virginia Beach has big ambitions". Virginian-Pilot. Retrieved 2018-10-04.
- ↑ Virginian-Pilot, Jamesetta M. Walker The. "Longstanding menswear store closes; spinoff results in partnership at new luxury department store". Virginian-Pilot. Retrieved 2018-10-04.
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