Case Scandinavian Luxury Group

Some might be surprised about the news that Scandinavian Luxury Group is about to cross the SEK 100 million turnover threshold this year. But there’s something even more surprising. As we speak over the phone, CEO Joel Lagerroos reveals that he’s not wearing a watch around his wrist.

The company is called Scandinavian Luxury Group for a reason: through its e­commerce stores Uret and Lamastone, it sells exclusive watches and jewellery at very competitive prices. It all started about ten years ago when Lagerroos and long­time friend Pontus Sjöberg, both fresh out of the Royal Institute of Technology, wanted to turn over the apple cart in the exclusive wrist watch market. ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

“What was a very heavily regulated industry made up of retail stores selling watches with high list prices got itself a challenger”, they write on their website. “Watch enthusiasts living outside the major conurbations no longer had to undertake a pilgrim journey just to buy an exclusive watch. Today, we’re by far the biggest Scandinavian watch retailer on the Internet.”

A couple of months later, the company diversified its offering by launching a jewellery store and web shop called Lamastone. Since then, the company has expanded to cover most of the Nordic countries and Poland. Business has been booming. Only three years ago, turnover was in the SEK 35 million range. This has now more than tripled.

“A vast supply, a market leading position, a focus on low prices and good, personal customer care. And, of course, extensive knowledge of the market,” is Lagerroos’ quick assessment of his company’s rapid rise. ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

In Finland, Scandinavian Luxury Group have partnered up with Paytrail, and Lagerroos has only positive things to say about it:

“They’re fast, easy to deal with and accurate in everything they do. Other than that, we don’t take a specific approach to the Finnish market. The same rules apply: excellent customer care and a wide range of products at good prices.”

Considering how long he and his partners have been interested in wrist watches, we have to ask what kind of watch he’s wearing right now.

“Actually I’m not wearing one right now [laughs]. Too bad, I can’t provide you with a good answer on that one. I do prefer round faces though.”

WHY IT WORKS: 

Scandinavian Luxury Group sells exclusive watches and jewellery at very competitive prices and are about to cross the SEK 100 million turnover threshold this year. “A vast supply, a market leading position, a focus on low prices and good, personal customer care. And, of course, extensive knowledge of the market,” is CEO Joel Lagerroos’ quick assessment of his company’s rapid rise.

Text by: Peter Ottsjö