High-end jewellery retailer Boodles has struck a deal worth €900,000 to sponsor the Champion Hurdle race at the Punchestown Festival for the next three years.
The deal, valued at €300,000 per year, will see the Friday of the five-day festival, which is also Ladies Day, branded as “Boodles Day”, while its branding will also be attached to the Champion Hurdle.
Boodles director James Amos, who is to take over as joint managing director of the family-run company alongside his cousin Jody Wainwright from Friday, led the partnership negotiations and previously managed its Dublin showroom.
He said Boodles had been looking for a vehicle that will provide it with “brand alignment; an opportunity to entertain clients; and an opportunity for people to see our jewellery in the hospitality areas, try it on, and possibly buy it”.
He said the target market for the group is “people who have money to spend, and the time to come along to these events”.
“Client relationships are what make our business really,” he said. “We are not transactional. We are entirely focused on building long-term customer relationships. We hope there is an angle to entertain our clients and be able to spend time with them.
“Our typical client base is successful business people. People who work hard, earn their own money, and are in a position to enjoy it now either through the experiences they choose or the jewellery they choose.
“We are not dealing with what I would call celebrities or the rich and famous. We are dealing with people who are successful in their own right, often people who have sold a business or who are successfully running a business.”
Boodles recently launched its first equine-inspired jewellery collection ‘Lucky’, which will be on display throughout Punchestown Festival in the new “Boodles Bar”, which will be situated in the middle of the corporate hospitality area.
“The area is being redeveloped as we speak, and our jewellery will be on display and you can buy a drink and everything else,” said Mr Amos.
“Sponsorship as a marketing channel has become really, really important for us. We’re also involved with the Chelsea Flower Show and one or two other things, as well as lots of smaller events.”
Cheltenham Gold Cup winner Rachael Blackmore, who is a Boodles ambassador, will be at the launch party. “She will be racing, but I imagine we will try to get her into our box to meet our clients as well,” said Mr Amos.
Mr Amos said Boodles, which concludes its financial year on Thursday, has had “a good year”, with jewellery sales up about 15 per cent. “We feel our brand is in a much stronger position than it has ever been before,” he added.
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