Old Navy operates a chain of 960 stores in North America. Old Navy offers its own brand if women’s, men’s, and children’s clothing and accessories at discount prices. According to Yahoo Finance, in 2006, the company’s revenue grew 1.6 percent to $6.86 billion.…
Companies that produce accessories and handbags have to work very hard at keeping up with the latest fashions and making sure that they are designing items that their target market wants. The market for handbags and accessories is very large. Not only do women purchase these items for themselves, but men also purchase them for the women on such occasions as birthdays, anniversaries, Valentine’s Day, Christmas, etc. These brand name handbags such as Coach and Louis Vuitton come with a hefty price, but consumers still buy them. What makes these designer bags worth the extra money? Today there is more of a focus on the name of the designer and how much you paid for it. Rivalry among luxury handbag and accessory makers is becoming increasingly stronger. There is competition of who has the strongest brand name and the newest products. The real struggle comes when you offer too many discounts and the products no longer are seen as being a luxury item.…
A luxury brand may have profound influence on an overall product strategy since its position may determine how the company is going to make its next step. A luxury brand like Coach epitomizes elegance and combines classic beauty with modern design. According to John E. Gamble, not only has Coach become one of the most respected and known brand names in the ladies’ handbags and leather accessories luxury brand industry, it is also one of the most best-selling luxury brand companies in the world, with net sales reaching 2.1 billion in 2006 (Gamble). When a company like Coach decides to set up a product strategy for the next season, the manager will need to take the brand’s established style into account, since their incoming products must fit with the existing brand. When a manager, such as Lew Frankfort, chairman and CEO of Coach, Inc., aims to build a luxury brand like Coach, he invests millions of dollars in setting up a series of business strategies, including advertising on television, organizing fashion shows, and gaining the approval of fashion designers. These actions are decided based on how a luxury brand is built; essentially, the brand will guide the future steps of the company to a certain degree. Coach, Inc. is different from other more expensive luxury brands, such as Hermes, Prada, Fendi, and Louis Vuitton in the sense that Coach focuses more on middle-income consumers who want to purchase their hand bags from a price range of $200 to $500. Coach is the alternative to these competing companies, matching their key luxury products on quality and styling, while beating them on price by 50% or more (Gamble).…
In the case of Adidas Yeezy example, people should think about why Yeezy series will be so popular. The products are popular because of its unique design or people just to purchase this product to show their wealthiness and social status. There are wide population out there “by using status goods as symbols, individuals communicate meaning about themselves to their reference groups. Many consumers purchase luxury goods primarily to satisfy an appetite for symbolic meanings” (Melika, Muris, 234). Most of the time, these people just understand the shallow meaning of luxury products, however, they are not aware of the brand’s history, product materials or what designers would like to express through these products. Because the cultural and value system difference, most consumers who come from Asia do not care about the deeper meaning that hides underneath of luxury brands. As Wong and Ahuvia state that “southeast Asians pay a great deal of attention to possessions that are both public and visible, such as designer-labeled goods, expensive cars, jewelry, etc. but this apparent materialism may or may not reflect internal personal tastes, traits, or goals” (Wong and Ahuvia, 437). So for people who comes from the Eastern part of the world, purchasing luxury products is the sign of showing social status. Even though culture differences leads people purchase luxury products because of the brand names, most of the luxury products do have adequate qualities, and its design will not easily go out of style. However, in the recent year, some luxury brands’ reputation has gone down because those brands were shifting their factories to other countries and then shipping back to Italy just for the label. Technically, the phrase “Made in Italy” is not really manufactured in Italy…
Nagasawa, Shin’ya (2008), Luxury Brand Strategy of Louis Vuitton: Graduate school of Commerce, Waseda University Tokyo, Japan.…
Brand Background: Content: Brand strategy Brand Identity & Image Brand Architecture Reference QI YU 14024137 founded in 1784 muslin and spinning cotton end of 18 century knitting and hosier 1819 finest quality raw materials 1893 a limilited company 1960's signature knitwear line After fine gauge knitwear products (Whoson, 2013) Brand Strategy 5 forces influencing brand potential (De Chernatony and McDonald) Macro-environment: Corporation: -Long pround and established -John Smedley Limited company history based in UK textile -Family-owned business industry -230 years historic brand -Great competition pressure (Whoson, 2013) Corporation for the knite industry -Long term decline in Birtish textile industry Macro-environment…
This move by the management to replace Nicolas Ghesquiere, has been seen as a major milestone in the Balenciaga history considering Alexander Wang’s…
Many of today’s prestige brands were started a century or more ago, and usually one-person operating the brand. The products sold were handcrafted by skilled artisans, usually preserved for the aristrocratic world of royalty and old money. Today, many of these brands are run by corporations which have transformed these small sized businesses into thriving multi-billion dollar retail brands. Their products are easily accessible as they are readily available at retail stores found on main city streets, in…
“The Max Mara Group is one of the largest international fashion houses and the first Italian clothing company, recognised throughout the world as the precursor of modern pret-à-porter fashion. The Group was formed in 1951 the Group with the aim of offering haute de gamme feminine clothing, produced according to excellent industrial processes. This is a record that the Max Mara Group has consolidated over time through a meticulous, luxurious style that has always achieved rising success on a world-wide scale” (MaxMara Group), maintaining however its strongest market in Italy. The Group is composed of nine different brands, each targeting a different segment, none of which are particularly active through digital communications, with the exception of websites and online shops.…
Italian fashion is very popular due to its exquisite designs with exceptional styles. Most of the products created by well-known Italian designers such as Gucci, Versace, Prada, and Giorgio Armani bring an extremely feeling of confidence as well as sophistication no matter the money spent. You don't only purchase a piece of clothing but rather a high quality clothing which basically transform you to an extraordinary individual (may be even for a day).…
Burberry’s main competitors are Armani, Coach, Polo and Gucci, their positioning is unique as it targets many different segments of the population such as twenty year old young professionals and 65 year old trench coat buyers with their vast and diverse product range including clothing and accessories and as well as being labeled as a fashion house they have products such as sunglasses and aftershaves that fall into the continuity category with a lifespan of many years. With the luxury appeal of their products and the functionality it would be correct to call Burberry a functional luxury brand.…
‘UNITED COLORS OF BENETTON’ is an Italian clothing brand, part of the Benetton Group, which was founded by Luciano Benetton in the year 1965.…
D I R E C T O R . M a r c o Tu r i n e t t o .…
Italian executive Giorgio Armani is an iconic clothing designer who has expanded his empire to include restaurants and hotels. His popularity skyrocketed in America in the 1980s when his men's 'power suits' appeared frequently on the television series Miami Vice.Designer. Born on July 11, 1934, in Piacenza, Italy. With his body-conscious yet understated clothing, Giorgio Armani has become one of the most popular names in fashion. He first launched his business empire in the mid-1970s, and it has grown substantially over the years. The Armani brand now includes makeup, house wares, books, and hotels. The son of a shipping manager, Armani grew up in a small town outside of Milan. It was a difficult time in Italian history. Giorgio and his two siblings—older brother Sergio and younger sister Rosanna—experienced the hardships of World War II first hand. Some of his friends were killed during Allied bombings. At an early age, Armani developed an interest in anatomy, making "dolls out of mud with a coffee bean hidden inside. His fascination with the human form led to two years of medical study at the University of Piacenza. Taking a break from school, Armani had to complete his required military service. He soon got his first taste of fashion. After completing his military service, Armani dropped out of university and went to work at La Rinascente, a famous Milan department store. He then joined the staff of Nino Cerruti as a designer. With the encouragement of his friend Sergio Galeotti, Armani started to do freelance design work for other companies as well. Armani and Galeotti became business partners, founding Giorgio Armani S.p.A. in July 1975. The company's first collection—a men's clothing line—debuted that year. Armani launched a women's collection the following year, which received a warm reception. His clothes were revolutionary at the time, introducing a more natural fit and using a subtle color palette. While his designs were popular in Europe, Armani…