CHLOE PAYNE STUDENT ID: 25015232
BUSINESS OF FASHION 2 CREATIVE BRAND MANAGEMENT AND MARKETING
SHOES REPORT ACCESSORIES REPORT
PERFUME REPORT BAG REPORT
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CELEBRITY ENDORSEMENT COLLABORATION STRATEGIC MARKETING PLAN BIBLIOGRAPHY APPENDIX
Shoes are products that people obsess over – the perfect pair completes an outfit. Market reports from Mintel (Online, 2016) state that “footwear has continued to outperform the clothing market as consumer spending on shoes outpaces spend on clothes.” Supporting this the report continues to expand on this showing that the sector is set to continue to grow, rising “25% to £13.2 million by 2021.” These figures are encouraging for brands within market sector, as they show that it is continuing to grow, suggesting it will become a promising market. Women are the largest target consumer within the footwear market, with the Mintel market dividers reports specifying that it is women who take up 52% of the market, particularly the 17-26 age category. An identifiable leader within the luxury footwear market is Gianvito Rossi. An article accessed on the Telegraph (online, 2016), elevates the designer, explaining, his shoes are sold in over 250 stores around the world with a turn over of €61 million a year. The article goes on to explain the following: “he has been responsible for three of the most copied styles of recent times: the Portofino sandal, a deceptively dainty looking strappy stiletto; the velvet ankle boot; and the leather-tipped PVC stiletto court shoe, which has been a perennial bestseller since its launch five years ago.” The products have been shown in world-renowned magazines such as: Vogue, Harpers Bazaar and Marie Claire. They brand also have a newsletter which potential customers can sign up for, as well as promotions on various social media platforms such as Twitter, Facebook and Instagram.
Adidas is also a key market leader. A relevant competitor, as CourrĂ¨ges showed a large amount of sporting influences within his designs. Therefore, looking into a successful producer of sports/lifestyle footwear will be beneficial towards discovering what is successful in the market. There are many new product designs shown online at WGSN, (Online, 2016). These show Adidas pushing the boundaries with design and innovation, weaving technology into the futuristic designs. Adidas promote their products on various social media platforms as well as creating major television campaigns starring well known sports players. Their latest campaign stars footballers such as Paul Pogba, Gareth Bale, Diego Costa and Jose Mourinho. The benefits of using wellknown players will be explained in the celebrity endorsement sector of this report.
Apparel within the market sector produces a variety of products. Reports on databases such as Mintel suggest that in comparison to the footwear market the sector is set to face decline, as consumer demand for clothes go down. Sender, T. (2016b) states, sales within the industry are “set to decline in 4% in 2016”. Indicating to new brands entering the market that now may not be an ideal time considering this current climate. However, following the recent vote to leave the EU Mintel research shows that nine out of ten people are interesting in purchasing clothes manufactured in Britain, a figure that prior to this vote was lower. (Sender, T. 2016a)
The target market for this sector has been identified by Mintel as 24-34 years, similar to age range identified within the report focusing on the footwear sector. (Mintel Online, 2015) Leading on from this, Gucci is a brand thriving within that target market. Figures published on BOF, Wendlandt, A. (2016), support the success, stating “Italian fashion brand Gucci confirmed its turnaround with a 17 percent rise in third-quarter comparable sales”. Gucci has become a relevant market leader within the sector, having targeted celebrities, bloggers, buyers and editors. Through lending items out to magazines for editorial purposes the brand have been able to spread their new image across large platforms. As a result, Abbis, S. (2016), states, “his designs are jumping from the runway and magazine covers to the red carpet and the street with significant frequency.” These are key strategies, which could be taken into consideration when re-launching Courrèges. Gucci have created advertisements which reflect both the image and feel of the brand, they are relevant, and appealing to the target consumer using: print media, television campaigns and social media. Through the reinvention of the brand led by Alessandro Michele, Gucci have presented themselves coherently across all campaigns and have therefore been able to increase their reputation and brand position within the luxury market. Burberry is also currently popular following the 2016 fashion shows, with Vogue (Online, 2016) rating it the number one collection at London Fashion Week 2016. Following this it is a nominee for the best British brand at the 2016 Fashion Awards (Vogue, 2016). Burberry their focus marketing on promoting the quality behind their luxury products, consequently, making themselves more appealing amongst competitors. Burb-
Image: http://www.dazeddigital.com/fashion/ gallery/related/21618/gucci-aw16
erry (collaborating with The Craftsmen) opened a pop-up event - the Makers House, for one week following their London 2016 show. As explained by Goody, A. (2016), “Burberry is an innovative player in the luxury market and we wouldn’t be surprised to see more brands follow suit with their own events and pop-up spaces that provide greater inspiration and creative processes behind their collections.” This success supports the figures in paragraph one about consumers becoming interested in clothing manufactured in Britain. (Mower, S. 2016) (Yatko, S. 2016). This event was a clever way for Burberry to show their collection to a wide range of people. Potential consumers have been able to view the collections without feeling intimidated, which they may feel entering a luxury store unsure of whether they want to make a purchase.
CCESSORIES Accessories are important for making any plain outfit stand out and for adding glamour to a look. Mintel, Sender, T. (2016c), have reported that the market sector is continuing to grow with a rise of 3.4% last year. However, they also explain that in relation to the luxury market sales have been slowing down. This is based on sales figures, which have been released by brands such as Lois Vuitton. However, considering it is still a growing market, it is still a product area worth entering.
From the Mintel consumer report, Sender, T. (2016d), it is clear that women aged“16-35 are the most active fashion accessories purchasers.” Therefore in order to become a successful brand within this market sector, a key target market would be the millennials. They continue to explain that this is also an increasingly popular market for those purchasing accessories embedded with newly developed technology – a very relevant point in relation to Courrèges re-launch. A trend relevant to a brand such as Courrèges, would be that of detachable embellishments – a small product that can be attached to a bag. This product will help brands to increase sales as the optional extras will increase the value of the product. An example of this is the fur/faux fur pom-pom. As featured on WGSN, Scullon, C. (2016), it is clear that the trend is going to remain popular. It can be seen across high-street but within luxury brands such as Fendi. Fendi are succeeding within the luxury accessories market with their products crossing from the affordable luxury market into high end. Their pom-pom key chains go up from £200-£1000+. Fendi are using these accessories as an effective way of gaining add-ons in their sales. (Fendi, accessed 2017). Fendi use promotional methods such as: video campaigns, print media and online platforms. In the SS17 show they used models Bella Hadid, Gigi Hadid and Kendall Jenner – who are all models of the moment with enormous online presences, this will allow the brand to reach the key target market of millennial’s effectively.
ERFUME A luxury fragrance can transform the way that someone can feel; with affordable luxury perfumes, consumers who may not be able to afford luxury clothing can still feel connected with the brand. Based on reports by Mintel the size of the fragrance industry is estimated to have a slow rise in the future years, unlike the other product areas such as bags and shoes, which appear to be growing at a larger rate. Khanom, R. (2016), states, “in the best-case scenario the category will increase from an estimated £1.45 billion in 2016 to £1.60 billion in 2021 or in the worst case decline by 1% to £1.43 billion.” However, this is still a rise and therefore a market area worth entering. The target market for a brand such as Courrèges is affordable luxury and therefore, when crossing into the fragrance industry competitors are brands such as Dior and Chanel. Chanel’s most recent campaign stars Lily-Rose Depp. Chanel used a campaign video in order to promote the new product, and used Lily-Rose Depp’s popular social media platform, Instagram, to reveal a teaser of which engaged and excited consumers prior to the product launch. As well as this they heavily use print campaigns as methods of promotion. Dior is also a successful brand for perfumes. They have affordable products which are below £100 but also offer a more exclusive range which reaches up to £290 for a 250ml bottle (Dior Online, Accessed 2017). These ranges are aimed at a niche markets of consumers who
can afford the more luxurious items and therefore, they aren’t sold in high-street fragrance retailers. Dior products are instantly recognisable to the brand, they are feminine and exquisite with a large focus on the quality. The global president of Dior, described the brand in the following way: “Dior is more than just a luxury brand. It’s an absolute symbol with international significance. When you say “Dior,” all the excellence of French luxury stands out, along with unique savoir-faire and expertise.” Yitong, W. (2015). Dior market their products with a focus on both the historic value of the brand and on who they are today. (www.Dior.com Accessed 1.1.17) Khanom, R. (2016b), suggests that the most successful method of promotion within the fragrance industry is in-store promotions, stating, “33% of fragrance buyers are basing their last new purchase on something they tried in-store and 29% spotting it whilst browsing in-store.” It is therefore important that the product is displayed effectively in store. The report continues to explain that celebrity endorsements have a low level of influence on consumers. Most luxury brands concentrate on making consumers feel that by purchasing the fragrance it will transform the way that they feel. In doing so the product appears to be a 8 necessity for making them feel special.
Everyone needs a bag, for everyday life, running errands, for going out in the evenings, for travelling and for just about everything. Which means that there is constant demand within the product sector.
It is clear within market reports that one of the leading target markets for brands selling luxury bags would be the 16-35 age range, with figures from Mintel stating that 40% of bag shoppers within that age range prefer designer bags. (Sender, T. 2016f)
In order to excel in the current market Michael Kors released their 2016, summer products, early in an attempt to encourage consumers into their stores. Wong, S (2016), states, it was this strategy that has led to an increase in revenue which has topped analysts’ predictions. As well as this, the brands success is supported by Mintel (Online, 2016), which reviews the products as having consistency in both high quality and in their affordability. Both of these factors make the products more accessible to a larger consumer range. It also supports the target market, suggesting that due to how the brand is marketed (affordability and quality) that there is a positive brand image amongst the 16-34 category. (Sender, T. 2016f) Michael Kors crosses over into the same affordable luxury price market as Courrèges, with bags currently ranging from £110. However, prices then go up £7,825, which are far above those sold at Courrèges. With the price range that Michael Kors has, it allows the brand to fit solidly into the luxury market, whilst avoiding excluding consumers who cant afford the top of the range products, thus making them a more accessible. (www.michaelkors.com Accessed 1.1.17) The brand are staying current, in the ss17 shows they used models of the moment such as Kendal Jenner and Bella Hadid. This is an instant way to win over the desired target market. The number of consumers that are willing to wait, until luxury brands introduce sales to make their purchase, is increasing. An effective method of working around this is to produce smaller versions of the most popular bags, consequently making them a more accessible price. Doing this allows the brand to keep the image of high brand value within consumers; something that could be lost if they begin to introduce sales. Examples of brands who have done this are Mulberry, Fendi and Alexander Wang.
Mulberry are a successful competitor for Courrèges with them making a big impact recently into the affordable luxury market. They have promoted the brand focusing on its British Heritage, with the brand boasting the craftsmanship behind the product it is no question as to why consumers view it as luxury, and a necessity within a luxury wardrobe. With their products priced between £500-£995 and Courrèges bags currently priced from €995-€1,480, they are a forceful competitor for the brand. (www.mulberry.com Accessed 1.1.17) Mulberry advertise using the following platforms: print media (such as magazines) and television promotions. As well as this, they use celebrity endorsements, such as well-known supermodel Cara Delevingne. She starred in them in 2013 and 2015 – and Georgia May Jagger starred in a campaign in 2015 leading up to the launch of her collaborative collection with the brand.
Celebrity Endorsement can have a large positive influence onto the successful of a campaign. According to Cope, J and Maloney, D (2016), “celebrity status can be attributed to a whole continuum of people within the public eye, from high-status, glamorous or skilled individuals through to the most infamous”. With such a wide range of celebrities to choose from it is understandable that sometimes brands do not make the most suitable decisions in relation to whom EXPLANATION PRODUCT A one-piece made from Nike Dri-FIT (80% polyester, 20% Elastane) from the Nike Lab. The garment is performance enhancing, as explained further in the collaboration report. It is recognisable as Courrèges and the basic design is similar to the wool jumpsuit available currently
from the brand. The style is similar to one that Andre Courrèges designed in the ‘60s, with (Guillaume, 1998) describing “his ambition was to create a new style of clothing, a metaphor for the fit and athletic body. Creation is dreaming up shapes, like the jumpsuit.” Describing the original product as “close fitting garments for women who are becoming more and more confident about their bodies.” This product is a development from this, evolving the idea from a fashion statement to a product with the idea of Courrèges but that satisfies consumer demand today. The product is packaged into a silver card box with a swing tag and product description. PLACE (DISTRIBUTION) The consumer can purchase
Firstly, the TEARS model is used so that a company can identify the most important attributes that are important for them when choosing an endorser. The first attribute of Credibility accounts for the first letter within the model as it refers to trustworthiness. Trustworthiness is the T in the TEARS model, which refers to the celebrity being perceived as dependable, and someone whom they can believe. If the celebrity makes it seem that they are only endorsing the product for self-interest then the trust between the celebrity and the consumer will be reduced. Secondly the E refers to Expertise. This is about the celebrity having specific skills, which can be related to the brand. The most important part of this is how much knowledge the consumer perceives them to have, if the consumers perceive the celebrity as highly knowledgeable then they will be more likely to impact the decision the target consumer makes referring to their purchase of the product. An example of a company who did not take this into consideration would be UGG, who used professional NFL player Tom Brady in their advertisements. This is not a good match up as the celebrityâ€™s perceived knowledge of the product will be small; he would be a better match to a product such as a sportswear product. As well as this UGG is a brand known
Image: http://www.mirror.co.uk/3am/gallery/ cheryl-cole-for-loreal-3823970
worldwide where as an NFL player would not be a well-known person in countries other than America, therefore reducing the effectiveness of the campaign. (www.ugg.com/do-nothing-zone/ Accessed 1.1.17) As explained by Shimp, T.A. (2000),the A is then Attractiveness. Attractiveness as explained in the TEARS approach below is not just physical attractiveness. If the consumer finds the endorser attractive then they are likely to take more interest into the endorsement and therefore the brand and the product. The next letter, R, another attribute of attractiveness represents Respect. A well-respected celebrity will positively reflect directly onto the brands image and therefore increase the success of the campaign. Finally S, the last attribute of attractiveness is Similarity. This is how the target consumer relates to the endorser in factors such as age, gender etc. If these match up the audience is more likely to relate to and therefore increase trust with the endorser. An example of this working is Cheryl Cole for Lâ€™Oreal, there is similarity in terms of gender and age which make the advertisements relatable to the target consumer and therefore more effective. (http://www.loreal-paris.co.uk/inside-l-oreal-paris/our-ambassadors/cheryl Accessed 1.1.17)
NO TEARS Secondly, the NO TEARS approach concentrates on how brands actually select particular endorsers to fit with their company. Advertisers will look for a variety of different factors when they are going through the process of selecting a celebrity endorser. These are: Do the celebrity and the audience match up? Do they the celebrity and the brand match up? How creditable is the celebrity? What is the celebrity’s level of attractiveness? What costs will be involved? Are they easy or difficult to work with? What is the endorsement saturation factor? Is there any likelihood of them getting into trouble It is important that the celebrity and the audience match up because they need to appeal to the desired target market in order for the campaign to be effective. This means that they need to be popular within the market that the campaign is being launched towards, if the consumer cannot relate to the celebrity then consequently they will not relate to the brand and the product. Equally, it is just as important for the celebrity to match up with the brand. The celebrity will be a representation of the company and therefore they need to have the same values and decorum that the brand want their image to be associated with. The importance of this factor is supported Cope, J and Maloney, D (2016), who state, “a good fit between celebrity and brand is generally considered to add to the persuasiveness of any endorsement, and it may also increase the celebrity’s trustworthiness and appeal.” An example of this is Nicole Kidman for Chanel No.5 perfume. Chanel’s fragrances are classic, time-less perfumes and Nicole Kidman is a time-less beauty and a well respected actress. Many perfume companies try to angle their campaigns to represent the type of women who wears the product not just the product itself - this is much more engaging. Overall, the perception consumers have of Nicole Kidman are the same as their perception of Chanel. (Martinson, J. 2004) It is the celebrities’ credibility which will have a large impact on why they are chosen. There are certain traits which will make a celebrity a popular choice, such as; trustworthiness, believability and their knowledge. If they have a perceived knowledge of the product category then they will be more convincing to the consumer, consequently making them more likely to buy into the product being endorsed. For example, Gary Lineker has been used for many years as an endorser for the brand Walkers and therefore built a recognisable relationship. As explained by Fill, C. (2013) the former professional footballer was “an important peripheral cue for Walkers crisps, in eventually persuading a consumer to try the brand or retaining current users.”
Attractiveness is also a key factor, Shimp, T.A. (2000), sections this aspect into three sub-components: physical attractiveness, respect and similarity. For example David Beckham who has endorsed numerous brands such as Emporio Armani, Adidas and H&M over the years. It is both his physical attractiveness, his respect for his sporting achievements and his personality within the public-eye and the similarity of him and who the brands are trying to appeal to which makes him such a popular endorser for brands. All of these attributes add up to make the consumer trust the brand.
of cost is justified.
Next, cost needs to be taken into consideration. How much a celebrity will cost will impact the likelihood of the brand taking them on as an endorser. Before an expensive celebrity is taken on the brand must first complete a cost-benefit analysis in order to determine whether the cost of the celebrity can be justified in terms of the revenue that will be obtained as a result of the campaign. Supported by Cope, J and Maloney, D (2016), that budget is the most important for paid endorsement and that because of the high fees the large extent of research into whether it is beneficial in terms
Finally, the last factor taken into consideration is the trouble factor. If the celebrity is likely to get into trouble then it will sway the brand away from wanting to work with them. The reason for this is, that if they get negative attention it will reflect directly onto the brand image, this is supported by Soloman, M.R. and Rabolt, N.J. (2008), with the example of Kate Moss who was dropped from Chanel, Burberry, H&M and other companies following a drugs scandal in 2005. (Dodd, V. (2005).
Another factor is how the celebrity is to work with. No brand will want to work with someone who is openly stubborn, temperamental, rude and simply just difficult to be around. Where as they would be much more likely to work with someone who has a reputation for being easy to work with due to factors such as being flexible with their time schedule and open to taking direction. For example, Lindsey Lohan has built a reputation within the film/model industry as being late, difficult and unreliable which consequently has reduced her chances of getting booked.
Image: Pinterest Kristen Stewart for Chanel
THE ‘VAMPIRE EFFECT’
One more risk when undertaking celebrity endorsement which is not highlighted within the TEARS NO TEARS theory is that of the ‘Vampire Effect’. As explained by Bryne, A. Et al (2003), this happens when there is no congruency between the brand and the product – the celebrity then overshadows the product. The celebrity could have too much impact and therefore cause the consumer to only remember them, as supported by Fill, C. (2013) “the celebrity becomes the hero, rather than the product being advertised.” Fill goes onto support this with the example of Carol Vorderman endorsing financial services company First Plus – consumers concentrated on the celebrity’s values and not that of the company which resulted in the endorser overshadowing the brand.
CELEBRITY ENDORSEMENT AND THE PRODUCT LAUNCH Although highlighted above the benefits of celebrity endorsement, it will not be used for the re-launch of Courrèges. This is because the collaboration will be Nike which is a majorly successful brand, therefore adding a celebrity to this as well, poses the threat that attention would be taken away from Courrèges. Consequently this would have a large impact on how successful the re-launch is. However, in the future celebrity endorsement will remain a possibility.
CourrĂ¨ges X Nike
ollaborations are a key way to breathe a new lease of life into any brand that needs some rejuvenation. In relation to fashion promotion, collaborations as defined by Cope, J and Maloney, D (2016), “refers to a product, collection, or brand emerging from an alliance between at least one fashion brand or designer, and another entity.” There have been many significant collaborations over time, a recent example of which would be H&M and Balmain. Their 2015 collaboration resulted in sell-out success, as the collection gained enormous attention and popularity amongst consumers. Sherman, L. (2015) highlighted that the benefits of the collaboration were positive for both brands; “a collaboration with H&M can offer a quick cash injection” for Balmain and for H&M the exposure from the collaboration with the luxury label was undoubtedly beneficial. There are many benefits of collaborations, due to them being innovating for brands, and exciting for consumers to see. As stated by Cope, J and Maloney, D (2016)“collaborations happen to help brands gain promotional media coverage, reach new audiences and benefit from the ‘cool’ factor of producing something novel and unexpected.” These factors result in a competitive advantage, and therefore provide a strong reason for a brand to embark on a collaboration. However, in order for the collaboration to be successful, both brands need to be a cohesive fit for each other. This is in a similar sense to how brands need to fit hand in hand with the celebrity they choose for endorsements. Courrèges has attempted collaborations in the past, with Evian Water, Estee Lauder and Roxy. However, none of which have truly grasped the essence of Courrèges and updated it to fulfil the consumer demands of today. However, this collaboration will do so because it will combine consumer desire for luxury products with the need for performance enhancing gym wear. The collaboration aimed to re-launch the brand will be with the major sports and lifestyle brand Nike. The product created will be a one-piece, designed to be worn in the gym and during exercise. The main USP of the product will be the use of Smart Textiles to create the piece. This will enable the garment to be performance enhancing. The idea behind the one piece is that it will make movements easier, with no bulky fabric getting in the way. This will enhance the consumer’s performance when wearing the garment, hence making exercise more enjoyable and effective.
Athleisure Nike was chosen because they are a leading sportswear retailer, and are respected within the industry. With a global presence, it goes without question that they would put Courrèges back on the fashion map. Courrèges re-launching with a sportswear product seems only logical as Andre Courrèges was always a keen sportsman and sportswear designer. It is clear in his designs from the ‘60s and ‘70s, when the brand was most popular, that he included sporting influences in his work. As explained by Guillaume, V. (1998),“Courrèges made the fashion world recognise and reflect the role of sport in modern life,” she goes on to state “Courrèges was not simply designing yet another range of sportswear. For him sport represented a way of life, a code of behaviour.” Quinn, B. (2012), promotes Nike as a brand who are leading in the developing sports apparel industry. The Dry Fit technology that Nike uses will be incorporated as the main material in the garment’s design. This will keep the clothing dry whilst the consumer exercises. The science behind this, as explained by Quinn, B. (2012), is that the sportswear ranges “combine layers of hydrophobic (water-repellent) and hydrophilic (water-attracting) fabrics to move moisture away from the body.”
For those consumers who exercise, but are not at the gym constantly, the current trend of Athleisure makes the product directly appealing to them, as it is not only fit for purpose, it is also for looking good. Athleisure and fitness clothes have excelled in popularity in recent years, and the trend is set to continue into 2018. Nike are a strong contender within the fitness market, and within the Athleisure market, Pike, H. (2016) states, “the reason why sports brands such as Nike and Adidas have done so well is they already had that brand image” – this therefore explains why Nike would be the perfect collaborative partner for Courrèges when launching a product which crosses into this market. The article goes on to explain that fitness clothing “can’t just be geared towards athletes and they have to have a fashion-interesting aspect to it. It’s becoming the expectation of the consumer today that they expect to have stylish and fashionable athletic wear.” There could be no better indication than this statement that there will be demand for the collaboration between Nike and, Courrèges which combines active-wear with luxury fashion.
INFLUECING TRENDS A trend, as defined by Raymond, M. and Martin, R. (2010) is “the direction in which something (and that something can be anything) tends to move and which has a consequential impact on the culture, society or business sector through which it moves.” Future trends, which have influenced the design of the product, include the Protein Princess market trend A/W 18. This trend is a strong representation of how the active wear market will develop, and is therefore directly relevant with this product. Analysing this trend highlighted key features of the product, which suggest it will be on trend and consequently a success: (Fenton, C. 2016) • “Within the wrapped tights: Wrapped panels and strapping add support while highlighting curves.” • “Day-to-night jumpsuit: Designed to highlight a toned physique. It delivers unrestricted freedom of movement. Supportive panelling is strategically placed to enhance the feminine form.” • “Styling: Body-con active-wear with a dramatic sexy edge.:” • “Icons and influencers: The protein Princess is personified by the new generation of #fitspo celebs and models such as Gigi Hadid, Karlie Kloss, Adrianne Ho and the Kardashian/Jenner clan.” The colour scheme referenced within this trend is also directly influential to the collaboration, with dramatic black and silver being emphasised. These are a key focus for two of the four designs. The next influential trend is the Infusion Trend; specifically, “Maximal-Minimal” which signifies designs that are simple in their execution, but high in performance. It highlights that the items will be “coveted not just for their looks but also for their abilities”. This is highly relevant for the product, as it will be noticed and chosen for both qualities: the physical attractiveness of the product’s appearance, and its performance enhancing qualities. (WGSN Active Team, 2015)
TARGET MARKET The target consumer for my product will be females aged 16-34, this is because the research conducted into the product areas highlights that is the main target consumer for the majority of the markets. The product will be marketed both at existing customers of Courrèges and Nike, as well as new customers; through combining the luxury market of Courrèges, and the fitness clothing market of Nike, there will be a wider range of people for the product to reach. Increasing the consumer audience is a key benefit of collaborations. The design will come in four patterns: galactic, planet, pink strike and blue strike. This will offer the consumer a certain level of customisation options: they will be able to choose where the pattern is positioned, adding individuality to the one-piece and meaning that the likelihood of any one item being the same is significantly reduced. With the stripe pattern, there is the option of blue or pink. All these designs are influenced by space themes, an idea Courrèges draws on in a lot of his work. This is evident in the 1964 ‘Space Age’ collection, a range that made him recognisable in the world of fashion design. This is something which should be continued, in order for the brand to remain recognisable as ‘Courrèges’. Recent events such as the space race to mars and the introduction of the virgin galactic, which provides people with the opportunity to pay for a trip into space, suggests that this theme will be appreciated by consumers. PACKAGING The packaging for the one-pieces will be a silver card box, which, when the lid is lifted off, reveals a Perspex’s sheet with information on the product. Underneath this will be the product itself. All products will have a logo on the chest area. It is an important feature for the logo to be incorporated directly onto the product, as this will make people identify it with the two brands. As well as this, it is important because Nike and Courrèges both currently use their logos on the vast majority of their product designs. There will be a swing tag on each product, which will display the logo, the material, the size and price. The logo design is a simple combination of the two, with the renowned Nike tick working as the C in the Courrèges name. The logo will be stitched into the product, instead of printed on, to improve how lasting it is. Overall, the main purpose of the collaboration will be to increase the awareness of Courrèges. In doing so, it will widen the customer base and consequently increase revenue.
The purpose of this report is to provide an analytical strategic approach to the re-launch of CourrĂ¨ges and the promotion of the product created. This will be completed through clearly defined business objectives on how the process will be achieved and managed. A number of factors will need to be comprehensively evaluated in order to re-launch the brand effectively, identifying where the brand went wrong in the past and what will make it successful this time around. These will be explained throughout.
HISTORY Andre Courrèges opened his fashion house with wife Coqueline in 1961. Pin-pointing the most definitive moments within the brands history begins with the 1964 Space Age Collection, which cemented Courrèges name within the fashion world. In the words of Courrèges, Guillaume, V. (1998), “It took four years before I could put it behind me and develop a style of my own, it took me too ‘64 to find my own identity.” Influences came from the Space Race, which was major political talk, with the venture into space being a new and exciting topic; consumers were obsessed with everything space-related. As described by Thomson, A. (2016), “for five startling years in the 1960s, André Courrèges was the future. Thrusting Parisian haute couture into a brave new world of bold geometric shapes made from inventive materials, his trouser suits, go-go boots, goggles and skirts with a hemline several inches above the knee left the fashion business agog.” It is within this collection that the most iconic products belong; angular mini-skirts and trouser suits (most of which designed with contrasting black and white stripes colour schemes) are two of the best. Courrèges designs were futuristic, visionary, innovative and what everyone wanted to see. His designs displayed the discoveries of the synthetic materials revolution in which he was at the forefront, Pierre Cardin and Paco Rabbanne – his main competitors of the time, followed behind him in the use of these materials. It was these futuristic designers which shaped the era. There is argument as to whether it was Courrèges or Mary Quant who first designed the mini-skirt. It is possible, with Mary Quant being in London, and Courrèges in France that they both had the same idea at the same time(Sky Arts, 2016). None-the-less, Courrèges is still strongly recognised for his Mini-Skirt designs and they had a large impact on his success. A market was created and demand large for the previously un-seen shorter skirts. The sexual revolution of the ‘60s, with the introduction of contraception, had society becoming less conservative and had consumers filled with the desire to create an identity for themselves; it was the young leading the way in fashion, therefore aiming his products at a young target market was destined for success. Courrèges dynamic silhouettes and bold, bright colours symbolised happiness and freedom for consumers (there was a strong sense of optimism within society following the post-war period).
“The tiniest skirts in Paris” was the description in the Chicago Tribune in 1969, Cunningham, B. (1969). Courrèges mini-skirts were iconic and as stated above were a true representation of the time-period in which the brand was the most successful.
“The world’s creativity stopped in 197 new, they have to go ba As explained by Thomas, D. (2016), in 1968, Courrèges sold half of the company to L’Oreal in order to help fund an expansion. Over the next four years, 125 boutiques were opened across the world and perfume was added to the product range. However, consumers lost interest in the space age fashion and with time moved onto new trends such as the flower-power and hippie trends. As stated by Thomson, A. (2016), “Fashion had, in its remorseless way, moved on. Still, Courrèges remained faithful to the aesthetic principles that had guided him throughout his career. As he maintained in his later years: “The world’s creativity stopped in 1970 . . . if they want to create something new, they have to go back to 1970s Courrèges.” Courreges had a keen interest in sports, Guillaume, V. (1998) described, that “his ambition was to create a new style of clothing, a metaphor for the fit and athletic body. Creation is dreaming up shapes, like the jumpsuit.” Describing his designs as “fitting garments for women who are becoming more and more confident about their bodies”. An opportunity to raise brand awareness came in 1972 when Courreges designed the staff
uniforms for the 1972 Munich Olympics. However, following this instead of pursuing just sports clothing he continued trying to balance it with Haute Couture. In 1994 Andre and his wife regained control of the company, but after discovering he was ill all creative duties were passed over to his wife Coqueline. In 2011 the brand was sold to Jacques Bungert and Frederic Torloting and Courrèges reappeared at Paris Fashion week in 2015 under the direction of Sebastien Meyer and Arnaud Vaillant. (Thomas, D. 2016) (Friedman, V. 2016).
0 . . . if they want to create something ck to 1970s Courrèges.”
WHERE ARE THEY NOW / FACTORS PREVENTING SUCCESS Sebastien Meyer and Arnaud Vaillant took the ss16 collection back to basics. Phelps, N. (2015), review the collection as; “iconic Courrèges items tweaked for 2016 shoppers”. Although a logical next step towards re-launching the brand, this is not excelling the brand into the level of success it once had. A key reason as to why Courrèges failed, as suggested by Horwell, V. (2016),was because his work was no longer relevant. It was only those that derived from sport that remained relevant for consumer demand; “he would have stayed ahead of fashion (we now wear sportswear for most of the day) if he had transferred to fulltime sportswear design, but he also kept his couture house”. This shows how the brand lost its success; it began to not fulfill consumer demand and got left behind in the ‘60s and ‘70s. As explained further by Horwell, V. (2016), Courrèges even made a book in ’82 about “a future of gym- and sports- toned bodies in tight-fitted stretch fabrics and knits.” Therefore, Courrèges missed an opportunity to remain strong in one market (fitness apparel) through attempting to spread across product ranges including that of Haute Couture. It was in 1986 that Courrèges lost its Haute Couture label after failing to show a collection in 1985. Supporting this, it was identified within the clothing report that Gucci has been reinvented successfully through creating campaigns which reflect the image and feeling of the brand. Therefore, in order for the brand’s re-launch to be successful they will need to go forward with one clear direction. A cohesive range needs to be created following the path of fitness-wear. (Guillaume, V. 1998.)
CRITICAL FACTORS OF SUCCESS
The critical factors of success need to be established in order for the brand to succeed and grow. According to Boddy, D. (2014), “critical success factors are those aspects of a strategy that must be achieved to secure competitive advantage.” In order for the brand to succeed the critical factors are: expanding upon the new product range within due course in order to keep the brand relevant and keep consumers engaged with the company, and to ensure all online marketing approaches are coherent within one another and effective in reaching the target consumer and positively influencing sales. In order to achieve this it is important to set objectives: Objective 1 To eliminate licencing within the brand. It was in 1979-80 that Courrèges introduced a licensing policy, defined by Kotler, P. Et Al (2008) licensing is “offering the right to use a manufacturing process, trademark, patent, trade secret or other item of value for a fee or royalty.” The main risk is that the brand will be associated with products that will bring down the perceived value of the brand, as well as products which will eliminate continuity across the product ranges. Chevalier, M. and Mazzalovo, G. (2012), state that, “licensing activities play a major part in the economic balance of the luxury industry”. Further explaining, “by licencing, we mean to farm out the production and the distribution of a line of products under its name.” Following this they use the Courrèges brand as an example: “this licensing activity sometimes represents a large part of a brands income. For example Courrèges or Balmain, license royalties amount to more than 5 percent of total income.” Although only 5% it will still impact the clarity of the brand identity and brand image to consumers, consequently having a negative impact on success. The benefit is for the companies who can sell their products with a perceived high level of value attached to them, because of the brand name they have been able to attach due to the licensing. Luxury brands such as Gucci in the early ‘90s suffered as a result of over-licencing. Gucci were at the edge of bankruptcy before Tom Ford took over, due to Maurizio Gucci over licensing the brand, with the name appearing on items such as coffee mugs and ashtrays. Burberry are another example of a luxury brand who in order to relinquish control ended licensing. It was their 35 year licensing partnership with Sanyo Shokai in 2015 that was closed in order to focus the brand and take it forward in a direction that included having all products coherent with the same brand image.
Objective 2 The second objective will be to develop the product range. Points to take into consideration and specific targets within this objective will be: to ensure that market research is continually undertaken to support the theory that the demand for further products is present within the UK and that marketing efforts are as strong as possible to increase consumer desire for the brand. This will be achieved following extensive market research into what consumers liked and disliked about the first product release in order to make improvements and allow consumers the opportunity to begin making repeat purchases and therefore, developing a loyalty to the brand. Objective 3 To have maximum exposure: this can be achieved through showing the collection at London Fashion week, Paris Fashion week and Milan Fashion week. This will enable fashion editors, buyers, journalists and all other major participants within the fashion industry to be excited about the product in the 3 countries that Courreges should be available: London - Dover Street Market, Paris â€“ Collette and Milan â€“ 10 Corso Como. This will need to be in March 2017 as the collection will be A/W 17/18.
The results expected from all three of these objectives will be to increase consumer awareness and sales, which will increase revenue.
Brand identity is how a brand wants it’s consumers who are buying their products to perceive them. The main aim when creating the brand identity for Courrèges is to effectively communicate what the brand represent and to appeal directly to the chosen target market, in this case, 16-34 year old females. This is the target market that the relaunch needs to be aimed at as it was highlighted through the majority of the product reports as the most successful. Online marketing efforts need to be improved in order to reach this market more successfully, this will be explained further in the communications mix. As well as brand identity an important aspect to consider is also the brand image, which is the customers actual perception of the product and brand. Ferrell, O.C., and Hartline, M.D. (2010), explain that the brand image is the “overall impression, positive or negative, that customers have”. Importantly brand image needs to be in sync with brand identity, this shows good communication between brand and consumer.
It is important to assess Courrèges current position within the market in order to identify competition, as well as factor’s which could help or hinder the success of the product launch. Armstrong, G. and Kotler, P. (2012), state’s that “when positioning a brand, the marketer should establish a mission for the brand and a vision of what the brand must be and do.” The vision for the product launch is to bring the brand back up to the high standard of success that it was when the space age collection was released in 1964. Prior to launching the product a PESTLE analysis is vital in order to evaluate the macro environment (external factors the brand can’t control) and the impact it will have onto the brand/product. Bohdanowicz Et Al, (1994), explain that “understanding the marketing environment is not an optional extra for fashion marketers; it both sets the tone of the plan and determines its success or failure”. Therefore, it is a key part of any research process. One of the most important factors from this is the Political/Legal issues. The products are sold in England, but created in France. However, due to the recent vote to leave the EU there is a risk that import taxes will be introduced which will have a negative impact on the brands expenses. Hoang, L. (2017), states, “Trade between the EU and Britain would need to adhere to World Trade Organization rules, meaning businesses would be subject to trade tariffs on import and exports. Textile goods, for instance, may face a tariff of 12 percent in duties.” The other factors have been analysed in the appendix. It is also important to use SWOT in order to further evaluate the external as well as the internal environment and the positives and negatives of the brand releasing the product. Ranchhod, A., Et Al, (2004), state’s, “it is a simple but effective method by which organisations can ascertain their current position and then develop strategies to take effective action.” Therefore, this is a vital method to gaining information about the market area, and about the brands strong points and pitfalls. A main point identified within the SWOT which will be beneficial towards reinventing the brand, is the weak-
ness identified. In comparison to competitors the brands online presence is weak. As mentioned below a competitor of the brand is Stella McCartney, the brand have an Instagram following of 3.5 million, this is extremely large in comparison to Courrèges 41.3 thousand. They also update their feed much more often than Courrèges. To change this, excitement needs to be built around the brand. Excitement should be built using a variety of different platforms which will be explained within the Communications Mix. The other factors have been analysed in the appendix. (https://www.instagram.com/stellamccartney/ Accessed 1.1.17) (https:I//Iwww.instagram.com/courreges/?hl=en Accessed 1.1.17) As explained by Cope, J and Maloney, D (2016)“brands do not only create the product/service but the market as well, markets do not exist until there are products to fill them; (in relation to products with now a large market e.g. Denim jeans/t-shirts) “only through the focused and persistent activities of marketing have these products become desirable, and markets for them been created.” Therefore, in order for any brand to make a profit and therefore succeed the products available must be desirable to the target consumer. The 4P’s look at the Product, Price, Place and Promotion – these must all carefully be considered, as supported by Cope, J and Maloney, D (2016)“ there will for each consumer be a moment within the process which appeals to them enough to make them complete the purchase, whether it be the product, the price bracket, where they can purchase it, or from how the benefits are communicated”. (4P’s in appendix). Courrèges currently sell: jackets, tops, dresses, trousers, skirts, jumpsuits, shoes, bags and perfumes. As identified within the product reports, all of these areas are promising and there is strong consumer demand in all. In order for each marketing tool to be successful consumer viewpoint must be considered, as explained by Kotler Et Al (2008), for product the vital factors are the customers wants and needs, for price it is the cost to the customer, for promotion it is the effectiveness of the communication and for place it is the convenience. Therefore, in order for the reinvention to be successful in depth research must be conducted into all aspects of the product launch, including both the internal and external market environment. (Analysis of collaboration product launch in appendix.)
THE COMPETITION/BRAND POSITIONING Courrèges has remained within the affordable luxury market throughout its time span and therefore it is clearly positioned amongst competitors and within consumer’s minds. The quality of the product is reflected in its price. Sportswear/lifestyle competitors within the price range are; Moncler, Stella McCartney, Yeezy, and the Adidas and Yohji Yamamota Y3 range. CUSTOMER ORIENTATION A successful consumer to aim the re-invention at would be women who are interested both in fashion, hi-tech performance wear and a healthy lifestyle. As highlighted in the Collaboration report the target consumer age range should be 16-34 because the research undertaken within the product area reports highlights that this is the main target consumer across the majority of the markets. A key point of success will come from creating a product which is of high quality. The importance of this was highlighted in the market research where it was identified that a high quality product will create a positive brand image for consumers. The luxury of the product should be the psychological drive behind the consumer’s decision to purchase. As explained by Kotler. P., and Armstrong, G (2015), psychological factors, arise from “the need for recognition, esteem or belonging.” All of which are factor’s that could be associated with products within the luxury product sector. SEASONAL PATTERNS Identifying the key trends is a vital part of research as it is trends represent the evolving world that is the fashion industry. Trends are a highly important factor which the success of the product is highly dependant on, the importance of this is supported by Raymond, M., and Martin, R.(2010), with; “trends are, therefore, a fundamental part of our emotional, physical and psychological landscape, and by detecting, mapping and using them to anticipate what is new and next in the world we live in we are contributing in no small way to better understanding the underlying ideas and principles that drive and motivate us as people.” COMMUNICATIONS MIX Armstrong, G., and Kotler, P. (2012), details that the communications mix is made up of advertising, PR, personal selling, sales promotion, direct marketing and social media. All aspects of the communication mix should be analaysed and utilised in order for the reinvention of the brand to be as successful as possible.
“Of course I consider myself a sportswear designer” -Andre Courrèges, Sportswear Magazine 1971
R Reinventing with the brand with the Collaboration How well aspects of the communications mix are executed will have a huge impact on the success of the product launch.
As explained by Cope, J and Maloney, D (2016), there are various opportunities for promotion in order to get word out about collaborations, therefore with the Nike X Courrèges collaboration no opportunity will be missed. “From the first announcement, through the design stage, to launch and post-launch activity.” And so, there will be a teaser posted onto both Nike’s and Courrèges’ existing social media accounts as well as new accounts specifically for the product. The platforms used will be; Twitter, Facebook, Instagram, Youtube and Snapchat. As explained by Lee, N. R., and Kotler, P. A. (2015), the advantages of using social media are: “time-
liness, ability to leverage target audience networks, provides for interactions and feedback, ability to personalise, ability to prompt and reinforce behaviours.” All of which support using the platforms and suggest that they will prove beneficial towards sales and future product development. This will be followed up with print campaigns and digital campaigns when the product is released as well as a launch event involving press in order to build excitement within the industry and consumers. The excitement around the collaboration will be increased through these promotions resulting in an increased consumer base and increased brand awareness. There will be online banners on the Nike and Courrèges website’s to increase online presence which will be vital to success, as supported by Dillion, S. (2011), who states, “having an online presence such as a website is like having a store which is always open.” Links to the social media pages will be present on both websites in order to increase customer interest. Consistency of brand identity is vital across all of these platforms as it will be have a large input on how consumers view the brand, consequently influencing their decision on whether to make a purchase. Personal selling involves communication methods
such as pop-up events and trade fairs. As a brand that has already had a lot of success and taking into consideration the popularity of Nike who will be used for the collaboration, neither of these methods will be necessary with the launch. Direct marketing will be used through the use of emails, a consumer will able to sign up for email updates when they visit the website and when they make a purchase in store. As supported by Kotler and Keller (2012),“email allows marketers to inform and communicate with customers at a fraction of the cost of a direct marketing campaign.” PR(public relations), as explained by Dillion, S. (2011), “involves communicating a message to one or more target audiences, influencing them in a positive way.” There are a number of different ways that a PR department can keep the brand within the consumer’s attention, these include: communicating the messages via channels such as TV, print media, online and direct mail. PR also includes press and media – social and digital. Therefore, an efficient PR team will need to be in place in order to deal with the launch. As defined by Armstrong,
G., and Kotler, P. (2012), sales promotion is “short-term incentives to encourage the purchase or sale of a product or service”. An example of which discounted prices and loyalty schemes. However, considering Courrèges is an affordable luxury brand introducing discounted prices could decrease the perceived value of the product and consequently the brand value. Therefore the product will always remain at full price and the brand will rely on the quality bringing back customer loyalty instead of loyalty schemes. As well as these promotional efforts, other factors that need to be followed through with the collaboration launch are: Clear brand identity needs to be achieved through a clear brand image. This should be achieved through the overall design of the product and through details such as the typography, labels/packaging and the logo. The colours used are a good represent of Courrèges within the product launch are silver, black, baby pink and baby blue. These all allow the brand to remain with the idea of futurism, which is a clear identity for the brand. The colours of the packaging should also be silver with black writing; contrasting colours which make the logo and information stand out, therefore clearly communicating the brand name to the consumer. Value needs to be created through both the quality of the product, the materials used (Nike Dri Fit) will ensure the product is performance enhancing, and through the consumers desire for a luxury brand which Courrèges fits into. Impacting the success of the launch will be the influential trends for AW17/18, identified by WGSN, as explained further in the previous collaboration report are Protein Princess and Infusion. The lifestyle trend of Athleisure was also highlighted and will be taken to a luxury level with the Courrèges X Nike collaboration takes this to a new level. (Fenton, C. 2016). An external factor which will also impact the launch will be the Winter Olympics in South Korea in February 2018 will have a large impact globally, highlighting physical activity which will impact seasonal sales figures within the active-wear sector that the Courrèges product will be a part of.
To conclude, all the information within this report highlights where CourrĂ¨ges went wrong and the critical factors of success that it had when it was at its height of popularity following the 1964 Space Age Collection. If all the factors identified are taken into consideration and the business objectives met the re-launch should be a success.
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APPENDIX 4Ps: PRODUCT
A one-piece made from Nike Dri-FIT (80% polyester, 20% Elastane) from the Nike Lab. The garment is performance enhancing, as explained further in the collaboration report. It is recognisable as Courrèges and the basic design is similar to the wool jumpsuit available currently from the brand. The style is similar to one that Andre Courrèges designed in the ‘60s, with (Guillaume, 1998) describing “his ambition was to create a new style of clothing, a metaphor for the fit and athletic body. Creation is dreaming up shapes, like the jumpsuit.” Describing the original product as “close fitting garments for women who are becoming more and more confident about their bodies.” This product is a development from this, evolving the idea from a fashion statement to a product with the idea of Courrèges but that satisfies consumer demand today. The product is packaged into a silver card box with a swing tag and product description.
The consumer can purchase the product online through Courreges website and Nike website. A concession at Dover Street Market, London. This will allow sales opportunities with a consumer base that has a high disposable income and an opportunity to sell amongst the luxury market. It will also build brand awareness. There will also be concessions in, Paris – Collette and Milan – 10 Corso Como. Order handing, dealing with customer complaints will be directed to a specific office. Not sold in Nike stores because the main target consumer shopping in Nike will not be looking for Luxury.
£550 The reason behind this is because Courreges currrently sell a wool jumpsuit for 570 euro’s, and at the current exchange rate that would be approximately £494. (As of 12.1.16). The price would then be increased because of the Smart materials and its performance enhancing qualities.
See Communications Mix.
PESTEL ANALYSIS: POLITICAL
Courreges is based in France, however, the product will be launched in England primarily. Currently England has free trade with all other EU countries (no import or export tax on goods) however, following the results of Brexit there is chance that this will change. It is currently possible that free movement around Europe will be stopped for Britain, which as explained by an article on BOF (2017) “Trade between the EU and Britain would need to adhere to World Trade Organization rules, meaning businesses would be subject to trade tariffs on import and exports. Textile goods, for instance, may face a tariff of 12 percent in duties.” Consequently this Political factor will have a negative impact onto the brand because it will increase costs, therefore reducing product. Leading on from this in order to reduce the likelihood of losing profit the brand may result to increasing the price of the product for consumers. In doing so it may deter potential consumers away from the product. http://www.businessoffashion.com/articles/intelligence/brexit-fashion-2017-british-break-up
Economic factors influence any company in terms of how profitable they are. An economic factor that Courreges will need to take into consideration will be the disposable income of potential consumers. According to Trading Economics (2017), Disposable Personal Income reached “an all time high of 312183 GBP Million in the second quarter of 2016”. Therefore, consumers will have more money to spend on luxury items such as Courreges products. http://www.tradingeconomics.com/united-kingdom/disposable-personal-income (Accessed 1.1.17) Social factors have an impact on the success of products because it influences factors which drive consumers to make purchases. A social factor which will impact Courreges will be health consciousness. Consumers may become more health conscious because of the rise in obesity. According to the NHS (http://www.nhs.uk/Livewell/ loseweight/Pages/statistics-and-causes-of-the-obesity-epidemic-inthe-UK.aspx - 2015) “The UK has the highest level of obesity in Western Europe, ahead of countries such as France, Germany, Spain and Sweden.” But with the media constantly portraying un-realistic body standards it is no doubt that consumers, particularly those fashion conscious and looking within the luxury market may becoming increasingly conscious on how they can improve their diet and lifestyle. This will mean that there are more consumers looking for products within the luxury fitness apparel market, which will be beneficial for Courreges.
Technology is constantly developing. The developments of wearable technology allow brands to offer consumers products that are multi-purpose. Examples of wearable technology include the Fit Bit and Apple Watch. The Fit Bit allows consumers to monitor their progress during physical activity and everyday life. It connects to smart phones and allows consumers to see messages that they are receiving whilst not having to get their phone out. It also has more benefits such as having exercise routines programmed into it. All of this is providing consumers with more and more, which raises the standard for any brand entering this market. With the collaboration producing fitness clothing this would be a logical next step in developing the product range.
ENVIRONMENTAL The importance of sustainability within the fashion industry is becoming increasingly important to consumers. Therefore it is an environmental factor which Courreges needs to take into consideration. This can be done through using recyclable packaging.
Advertising Standards will be an impacting legal factor to Courreges advertising campaign. The ASA sets the standards and if not followed there are large potential consequences involving legal action which could result in a fine which would impact profit or even result in the brand having to close down. For example (Dazed Digital, online 2015) the 2007 Tom Ford campaign shot by Terry Richardson was banned following the explicit nature of the images. Following this the 2015 Tom Ford campaign staring Cara Delevigne for Black Orchard Perfume was restricted from certain areas after it was branded â€˜degrading and innapropriateâ€™ (Elle 2015). Receiving negative attention such for campaign images is not beneficial to a brands image which could make consumers less likely to engage with the company. ( Dazed 2015 http://www.dazeddigital.com/fashion/article/24720/1/ fashion-v-censorship-a-history-of-banned-ads-miu-miutom-ford Elle â€“ April 2015 http://www.elle.com/fashion/shopping/news/a28129/caradelevingnes-ad-banned/ )
SWOT ANALYSIS: STRENGTH
A strength of Courreges would be that they currently offer a range of products. They sell: tops, skirts, trouser, dresses, jumpsuits, jackets, shoes, bags and perfume. Therefore, they are reaching a wide consumer market. In comparison to competitors they have a smaller following on social media platforms, which are a key marketing tool. In comparison to competitors the brands online presence is weak. A competitor of the brand is Stella McCartney, the brand have an Instagram following of 3.5 million, this is extremely large in comparison to CourrĂ¨ges 41.3 thousand. To change this, excitement needs to be built around the brand. Excitement should be built using a variety of different platforms that make up the communications mix. (https://www.instagram.com/stellamccartney/ Accessed 1.1.17) (https://www.instagram.com/ courreges/?hl=en Accessed 1.1.17) The Instagram is also not updates frequently enough which reduces excitement surrounding the brand. An opportunity for the brand would be to promote at luxury gyms. This could be done through print and digital banners. This would therefore allow the brand to directly market at their target market â€“ consumers wanting luxury performance enhancing fitness clothes. Threat is that high-street retailers could copy the ideas and sell them at a more accessible price. This could take some consumers away from the brand.
Another threat to the brand is changing import and export taxes, (as explained further in PESTEL) and fluctuations in currency. If the exchange rate changes it will impact the profit gained from products sold outside of France. Another threat would be if production costs were raised unexpectedly, this would have an effect on the profit made.
This report was created as part of the Business of Fashion 2 brief set at Sheffield Hallam University, Fashion Management and Communication....
Published on Jan 21, 2017
This report was created as part of the Business of Fashion 2 brief set at Sheffield Hallam University, Fashion Management and Communication....