The Hyundai Group is the latest to try and crack the premium market with a new brand - perhaps one of the industry’s toughest tests - yet spend time in the company of Genesis’s management and your perception of it as another wannabe BMW or Audi soon shifts.
Instead, Lawrence Hamilton, managing director of Genesis in Europe, sees a very different part of the market it can carve out. “The ambition is to build a loyal club of customers,” he says. “Once you’re in, you won’t want to leave.”
That’s not just a sentimental statement, but rather one related to the only number Genesis is putting on its ambitions: the size of its dealer network. After a recent pivot away from solely online sales and brand experience spaces in shopping centres during its first two years on sale in the UK to working with retailers in an agency model, Genesis has signed seven dealers to start sales in early 2024 and plans to build a network of 15. BMW has more than 10 times that number.
A small network means more personal relationships with customers, which is where Genesis thinks it has the edge.
“The key to success is not only beautiful cars that perform well but relationships with customers,” says Hamilton. “This is where we can have an advantage; we can demonstrate value here. We call it a Korean phrase: ‘som mim’. It means honoured guest. Someone in your home - that’s the kind of relationship we want to build with customers.
“The key to a luxury brand is the experience, the personal touch and thoughtfulness. Retail partners are as important as customers. If the retailer wins, the customer wins, and we win.”
That size of network will be over a pretty even geographical spread and give Genesis a “frontline of 100-150 people working in dealerships”. Hamilton adds: “As an OEM, 150 is a very manageable number to get to know, train and spend time with. They get to know and understand the brand and become more aligned with us and build a strong culture. It’s the ‘cult’ of Genesis; get pride in the frontline and it’s going to do well with customers.”
Add your comment