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RE-BRANDING OF FENDISSIME


C O N T E N T S

2 INTRODUCTION 3 BACKGROUND 5 MARKET 9 BRAND PROPOSITION 11 MISSION STATEMENT 13 SWOT 15 COMPETITOR ANALYSIS 19 MARKET STRATEGY 23 CONCLUSION 25 WEBSITE 27 ADVERTISING BANNERS


INTRODUCTION THIS MARKETING REPORT FOCUSES ON THE REBRANDING OF FENDISSIME AND DEMONSTRATE THE STEPS THAT HAVE BEEN TAKEN TO PRODUCE THE STRATEGY THAT WILL LEAD TO THE SUCCESSFUL RE-LAUNCH OF THE BRAND. FENDISSIME, THE LUXURY DIFFUSION BRAND OF FENDI, HAS BEEN TAKEN THROUGH A COMPLETE OVERHAUL AS A RESULT OF REAPPRAISING ITS ROLE AND POSITIONING IN TODAY’S MARKET PLACE. STRATEGIES HAVE BEEN DEVISED BASED ON THE CHALLENGES AND OPPORTUNITIES IN THE LUXURY BRANDED GOODS SECTOR AND MINDFUL OF CHANGING DEMOGRAPHICS AND COMPETITIVE POSITIONING IN THE GLOBAL ECONOMY.

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FENDI STARTED LIFE AS ADELE AND EDOARDO FENDI’S HUMBLE LEATHER AND FUR SHOP IN VIA DEL PLEBISCTO, ROME IN 1925 AND ALTHOUGH STARTING SMALL IT SOON GAINED MASS CONSUMER RECOGNITION FOR ITS CHIC, LUXURIOUS AND GENUINE CRAFTSMANSHIP. IT NOW HOLDS THE TITLE OF ONE OF THE WORLDS MORE ICONIC, SUPERIOR AND SOPHISTICATED DESIGNER LABELS.

AS THE YOUNGEST GENERATION OF FENDI IT SEEMED RIGHT THAT THE GIRLS WOULD BE BEST PLACED TO REFLECT THE FASHION ASPIRATIONS OF THE YOUNGER MARKET. THEY WERE CONCERNED TO MOVE AWAY FROM THE MORE TRADITIONAL AND ALMOST TIMELESS ELEGANCE OF THE OLDER LABEL AND CREATE A NEW LINE THAT WOULD APPEAL TO A NEW YOUNGER “STYLE CONSCIOUS” AUDIENCE WITHOUT AS STRONG A LINK TO ITALY BUT RATHER TO A MULTI NATIONAL ‘FASHIONISTA’.

THE THIRD GENERATION OF FENDI WHICH IS STILL ALIVE TODAY, CONSISTS OF MARIA TERESA, MARIA ILARIA, SILVIA AND FREDERICA. HAVING GROWN UP COMPLETELY IMMERSED IN THE BRAND ‘FENDI’ IT WAS ONLY NATURAL THAT THE COUSINS WOULD FOLLOW IN THE FOOTSTEPS OF THEIR MOTHERS AND CREATE A UNIQUE PART OF THE FENDI HISTORY. ALTHOUGH FENDI WAS A SUCCESSFUL ICONIC LABEL IT DID NOT TRANSLATE WELL TO SOCIETY’S YOUNGER, HIPPER AUDIENCE AND SO FENDISSIME WAS BORN IN 1987, THE CHILD OF FENDI’S THIRD GENERATION.

BACKGROUND

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THE GIRLS HAD SERVED THEIR APPRENTICESHIPS IN THE RIGHT PLACES HAVING WORKED AT INFLUENTIAL FASHION HOUSES AND DEPARTMENT STORES LIKE BERGDORF GOODMAN, BLOOMINGDALES AND CHANEL, AND SO IT WAS THAT THESE YOUNG WOMEN BROUGHT EXPERTISE AND VITALITY TO THE NEW LABEL.

WHAT THE COUSINS BROUGHT TO FENDISSIME WAS THE SAME PASSION THAT THEIR MOTHERS AND GRANDMOTHER HAD FAMOUSLY BROUGHT TO THE MAIN LINE. ATTENTION TO DETAIL AND CREATIVITY WERE NURTURED, THESE HAD BEEN AMONGST THE PRINCIPAL CHARACTERISTICS OF THE ORIGINAL FENDI, BUT WITH FENDISSIME THESE SAME HIGH STANDARDS CAME AT MORE AFFORDABLE PRICES. ALL OF WHICH PAID OFF WITH BRILLIANT RESULTS. DURING THE 1990’S THE FASHION INDUSTRY CONSOLIDATED MANY OF THE MAJOR BRANDS AND LVMH WAS PARTICULARLY ACTIVE AND DURING THE DECADE THEY BUILT UP THEIR STAKE IN FENDI FINALLY ACQUIRING A MAJORITY STAKE IN THE BUSINESS IN 2001. THEIR PRIMARY INTEREST WAS TO INCREASE THEIR PENETRATION OF THE ITALIAN MARKET AND TO STRENGTHEN THEIR PORTFOLIO OF FASHION AND LEATHER BRANDS AND IT WAS FENDI THAT THEY WERE MAINLY INTERESTED IN. AS THEY ALREADY HAD A NUMBER OF DIFFUSION BRANDS AND WERE KEEN TO FOCUS ON MAINSTREAM BRANDS WITH A GLOBAL POTENTIAL, IT WAS DECIDED THAT THE FENDISSIME LABEL WOULD BE DROPPED.

SILVIA, NOW THE CREATIVE DIRECTOR OF LEATHER GOODS AND ACCESSORIES AT THE FENDI HOUSE, AND HER SISTER MARIA ILARIA, WHO STUDIED AT THE EUROPEAN INSTITUTE OF DESIGN, LED THE DESIGN TEAM. THEIR SISTER, MARIA TERESA WHO CAME FROM THE WORLD OF THEATRICAL DRAMA AND CINEMA, HANDLED COMMUNICATIONS, USING HER EXPERIENCE TO THINK UP INNOVATIVE WAYS TO PROMOTE THE NEW COMPANY’S IMAGE. THEIR COUSIN, FEDERICA, CONSIDERED THE GROUP’S PRAGMATIST, WAS LEFT IN CHARGE OF LOGISTICS, COORDINATING AND PLANNING THE SEASONAL COLLECTIONS. IN 1990, A YOUNG GIAMBATTISTA VALLI JOINED THE LABEL AND HIS INFLUENCE WAS VERY QUICKLY FELT AS HE GREW TO LEAD THE DESIGN DIRECTION OF THE NEWLY LAUNCHED BRAND.

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THE MA

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ARKET

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TODAY THE GLOBAL FASHION INDUSTRY IS WORTH $ 1.7 TRILLION, AND HAS BEEN GROWING AT AN AVERA WESTERN EUROPE AND JAPAN. HOWEVER THE FAST GROWTH OF BRIC ECONOMIES HAVE SIGNIFICANTLY C LUXURY FASHION INDUSTRY AND MOST OF ITS SUBSECTORS CONTINUES TO GROW AT A STEADY RATE.

AT THE SAME TIME THERE HAS BEEN AN INCREASINGLY SMALL EDGEABLE CONSUMERS WANTING ACCESS TO THE BEST THE F THAT HAVE SUCCESSFULLY BENEFITTED FROM THIS TREND. TH MEANT THAT IT IS AVAILABLE TO A WIDER RANGE OF CONSU

THIS NEW DYNAMIC “HIGH FASHION REACHIN 18 TO 29 YEAR OLDS MAKE UP, AS AN EXA THEIR INFLUENCE IS WORLDWIDE AND WIT TRENDS AND BE ABLE TO AFFORD THE PRIC

IT IS AGAINST THIS SETTING THAT DIFFUSION BRANDS HAVE THRIVED, RECOG THIS SURGE HAS BEEN DRIVEN BY THE EMERGING MARKETS ACROSS LATIN AM YEARS, ACCORDING TO THE ONLINE PUBLICATION “BUSINESS OF FASHION”. IMP THAN 33% OF ALL LUXURY SPENDING IN THE LAST YEAR (2012-13), IT IS EXP

WHILST THERE IS CLEARLY A VERY LARGE MARKET AV MENT REQUIRED TO STAY IN A PROMINENT COMPETITIV TREMELY WELL CONNECTED TO “THE STREET”, HAVE TH THEIR ORGANISATIONS.

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AGE OF 3-5% SINCE THE YEAR 2000. THE MAJOR PLAYERS IN TERMS OF FASHION SALES REMAIN THE USA, CHANGED THE DYNAMICS OF THIS INDUSTRY. IN SPITE OF THE WORLD ECONOMIC DOWNTURN IN 2008 THE

LER DIVIDE BETWEEN HIGH-END LUXURY FASHION AND HIGH STREET FASHION WITH MANY MORE ADVENTURES AND KNOWLFASHION INDUSTRY HAS TO OFFER. TOPSHOP HAS BEEN LEADING IN THIS RESPECT BUT ZARA AND RIVER ISLAND ARE OTHERS HE KEY HAS BEEN TO MAKE LUXURY FASHION AFFORDABLE AND ACCESSIBLE AND NEW COMMUNICATION TECHNOLOGY HAS UMER.

NG THE HIGH STREET” HAS BEEN DRIVEN BY THE NEW MILLENNIAL (GENERATION Y), THESE TECHNOLOGY SAVVY AMPLE, OVER 30+ MILLION AMERICANS, AND HAVE AS A RESULT GREAT EFFECT OVER THE FASHION INDUSTRY. TH THE HELP OF ONLINE SHOPPING AND SOCIAL MEDIA THEY ARE ABLE TO STAY UP-TO-DATE ON THE LATEST CES CHARGED BY MASS-MARKET BRANDS.

GNISING THAT THERE IS A VERY LARGE AND AVAILABLE MARKET (ESTIMATED AT $318 BILLION WORLDWIDE). MERICA, ASIA PACIFIC AND AFRICA AND SPENDING IS EXPECTED TO INCREASE BY 35% OVER THE NEXT 5 PORTANTLY ALTHOUGH WESTERN EUROPE HAS BEEN THE CLEAR LEADER IN INTAKE ACCOUNTING FOR MORE PECTED TO BE OVERTAKEN BY ASIA PACIFIC BY 2018.

VAILABLE TO BOTH NEW AND EXISTING LUXURY FASHION BRANDS THERE IS ALSO AN ALMOST BUSY RATE OF DEVELOPVE POSITION …STANDING STILL IS NOT AN OPTION! THIS MEANS THAT SUCCESSFUL FASHION BRANDS HAVE TO BE EXHE RESOURCES AVAILABLE TO DEVELOP AND MARKET THEIR IDEAS AND HAVE EXCEPTIONAL DESIGN CAPABILITY WITHIN

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THE

PROPO

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BRAND

OSITION

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MISSION STATEMENT “FENDISSIME APPEALS TO THE SOPHISTICATED FEMALE WHO WANTS AUTHENTIC CRAFTSMANSHIP AND LEADING EDGE DESIGN THAT IS ETERNALLY YOUNG.”

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IT IS AGAINST THIS BACKGROUND THAT THE RE-BRANDING OF FENDISSIME HAS BEEN PLANNED, A GROWING GLOBAL MARKET THAT WANTS TO EXPERIENCE HIGH FASHION AND HIGHEND FASHION HOUSES AT AFFORDABLE PRICES.

THE FENDISSIME STYLE IS ESSENTIALLY MINIMALISTIC FEMININE CASUAL WEAR WITH A PLAYFUL USE OF THE ARCHETYPE ETERNAL YOUTH. IT USES FRESH WHITES AND PINKS WITH FLORAL OVERTONES TO CAPTURE IT’S ESSENCE WHILE FLAUNTING THE POWER OF FEMININITY, SO, THE UNIQUE SELLING POINT IS THAT IT OFFERS FRESH EVERY DAY APPAREL WHILE MAINTAINING THE HIGH LEVEL OF CRAFTSMANSHIP OF IT’S MOTHER BRAND FENDI AT A PRICE THAT IT’S TARGET MARKET CAN AFFORD.

RECOGNISING THAT IT’S CORE TARGET DEMOGRAPHIC WAS GOING TO BE 1829 YEAR OLD FEMALES, TYPICALLY SINGLE AND OFTEN OF INDEPENDENT MEANS, VERY MUCH IN TOUCH WITH THE LATEST TRENDS IN MUSIC, ART AND FASHION, FENDISSIME HAS CREATED AN AESTHETIC AND A RANGE THAT WILL APPEAL TO THIS GROUP ON A GLOBAL BASIS.

THE LOGO NEEDED TO TRANSLATE WELL TO A YOUNGER CONSUMER, IT NEEDED TO BE EASILY RECOGNISABLE SO THAT THE CUSTOMER KNEW THAT

MULTI FUNCTIONAL CASUAL IS VERY MUCH THE MOTTO OF THIS STYLE, AS APPEALING IN THE DESIGN STUDIO AS IT WILL BE IN THE LOCAL COCKTAIL BAR, THIS NEW RANGE IS FRESH AND FUN, USING THE SEASONS AS IT’S COLOUR PALETTE AND LIGHT PASTEL SHADES AS IT’S TRADEMARK. THE BRAND WILL USE RECOGNIZABLE & DESIRABLE MUSES THAT ARE CURRENT IN FASHION GLOBALLY AND THAT REPRESENT THE LOOK OF THE BRAND. DAPHNE GRONVELD IS THE MODEL THAT WILL BE THE FACE OF FENDISSIME AS SHE MORE THAN ANY OTHER WILL BE ABLE TO CAPTURE THE LOOK AND THE MARKET OF THE BRAND.

IT WAS RELATED TO FENDI AND THAT THE CRAFTSMANSHIP AND QUALITY WOULD NOT BE QUESTIONABLE. THE LOGO WAS CONDUCTED WITH VARIOUS TECHNIQUES, ONCE HAND DRAWN AND OF CORRECT STANDARDS A COMBINATION OF ILLUSTRATOR AND THE RIGHT TYPOGRAPHY WAS USED TO CREATE THE TWO-PIECE LOGO.

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UNIQUE DESIGN STYLE GROWTH OF SECTOR FENDI HERITAGE SIZE OF DEMOGRAPHIC ALIGNED TO SOCIAL MEDIA

S

SW GLOBAL MARKET GROWTH ACCESS TO DIGITAL FASHION MEDIA GROWTH OF SOCIAL MEDIA CELEBRITY ENDORSEMENT NEW STORES (OWNED AND CONCESSION) CORE PRODUCT FOCUS AND EXTENSION

O 13.


W

UNFRIENDLY ENVIRONMENTAL POLICIES NEW TO THE MARKET LIMITED NUMBER OF ICONIC PRODUCTS

WOT T

GREATER COMPETITION FALSIFICATION ECONOMIC DOWNTURN LOSS OF “LUXURY LABEL

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COMPETITOR

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ANALYSIS

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IN THE LAST 10 YEARS WE HAVE SEEN AN LARGE INCREASE OF DIFFUSION BRANDS, BUT IT WAS ONE OF THE ORIGINAL DIFFUSION BRANDS, MIU MU CREATED IN 1992 THAT HAS BEEN THE BENCHMARK FOR FENDISSIME IN TERMS OF TARGET MARKET AND GLOBAL DISTRIBUTION. THE IMPACT THAT DIFFUSION BRANDS CAN HAVE IN FINANCIAL TERMS IS ALSO BEST ILLUSTRATED BY MIU MIU, OF THE $2.6 BILLION PRADA SALES IN 2010-11, $440 MILLION CAME FROM MUI MIU.

N TERMS OF PRICE POINT FENDISSIME IS ON A PAR WITH DKNY, MOSCHINO CHEAP AND CHIC, SEE BY CHLOE, MUI MU AND RED BY VALENTINO AND ALTHOUGH SMALL BY COMPARISON FENDISSIME AIMS TO EMULATE MUI MIU’S GLOBAL SUCCESS. AS OF JANUARY 2012 MUI MUI WAS REPRESENTED IN THE MAJORITY OF PRADA’S 388 SHOPS LOCATED IN OVER 70 COUNTRIES WORLDWIDE.

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MARKETING

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STRATEGY

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IN THE LAST 10 YEARS WE HAVE SEEN AN LARGE INCREASE OF DIFFUSION BRANDS, BUT IT WAS ONE OF THE ORIGINAL DIF CREATED IN 1992 THAT HAS BEEN THE BENCHMARK FOR FENDISSIME IN TERMS OF TARGET MARKET AND GLOBAL DISTRIBUTI SION BRANDS CAN HAVE IN FINANCIAL TERMS IS ALSO BEST ILLUSTRATED BY MIU MIU, OF THE $2.6 BILLION PRADA SALES CAME FROM MUI MIU.

IN TERMS OF PRICE POINT FENDISSIME IS ON A PAR WITH DKNY, MOSCHINO CHEAP AND CHIC, SEE AND ALTHOUGH SMALL BY COMPARISON FENDISSIME AIMS TO EMULATE MUI MIU’S GLOBAL SUCCE REPRESENTED IN THE MAJORITY OF PRADA’S 388 SHOPS LOCATED IN OVER 70 COUNTRIES WORLD

SO THAT THE LAUN FOR THE INITIAL T

- THE FA - HIGH P LONDON FASHIO

- TO C FENDISSIME D - POP AND TOURIST

THE COMBINED FENDISSIME BR SHOPS.

TO ENSURE THE APPEARANCE A (LONDON, MILA STANT STREAM 21.


FFUSION BRANDS, MIU MU ION. THE IMPACT THAT DIFFUIN 2010-11, $440 MILLION

E BY CHLOE, MUI MU AND RED BY VALENTINO ESS. AS OF JANUARY 2012 MUI MUI WAS DWIDE.

NCH GAINS MAXIMUM EFFECT IN ONE OF IT’S KEY MARKETS, LONDON HAS BEEN CHOSEN TEST MARKET, THE KEY ELEMENTS OF THE LAUNCH ARE AS FOLLOWS:- MAJOR EXPOSE AT LONDON FASHION WEEK DRESSING THE DAIRY ART CENTRE WITH A OVER THE TOP FLORAL THEME.

ACE OF FENDISSIME WILL BE DAPHNE GROENVELD. PROFILE FENDI CONCESSIONS IN HARRODS AND SELFRIDGES WILL RUN THEIR OWN CATWALK SHOWS DURING ON WEEK. - ARTICLES/ADVERTORIALS WILL FEATURE THE FENDISSIME STORY AND IT’S NEW PERSONIFICATION. - SOCIAL MEDIA WILL HAVE AN ALMOST CONSTANT LIVE FEED OF THE SHOWS, THE CELEBRITY GUESTS, MEDIA REVIEWS AND IMPORTANTLY THE EMERGING STYLES OF THIS EXCITING NEW COLLECTION.

CAPTURE THE REACTION OF THE BRANDS TARGET CUSTOMER, EVENTS WILL BE HELD IN VENUES VISITED BY THE DEMOGRAPHIC IN SHOREDITCH, DALSTON, CAMDEN, BRIXTON AND HACKNEY. UP EVENTS WILL BE ORGANIZED FOR KEY VENUES IN HIGH FOOTFALL AREAS E.G. MUSEUMS, SHOPPING MALLS T ATTRACTIONS. - TO START THE FEED TO INTERNATIONAL MARKETS, SMALLER BUT FOCUSED EVENTS WILL BE HELD IN NEW YORK, MILAN, TOKYO AND BEIJING , FED BY THE EVENTS AT LONDON FASHION WEEK .

EFFECT OF ALL OF THIS ACTIVITY AND THE MEDIA COVERAGE THAT RUNS FROM IT, WILL GUARANTEE THAT THE RAND GETS NOTICED AND START TO CREATE THE INTEREST THAT WILL ATTRACT IT’S TARGET AUDIENCE TO IT’S

E LASTING SUCCESS OF THE BRAND, FENDISSIME WILL NEED TO BE SUPPORTED ON AN ONGOING BASIS WITH IT’S AT MAJOR FASHION RELATED EVENTS, A BROADENING DISTRIBUTIVE BASE INITIALLY IN IT’S SIGNIFICANT MARKETS AN, NEW YORK, PARIS AND TOKYO) BUT PROGRESSIVELY INTO THE EMERGING ECONOMIES AND CRITICALLY A CONM OF MODERNIZATION BOTH IN TERMS OF REGULAR APPAREL AND PRODUCT EXTENSIONS. 22.


CONCLUSIO THE GLOBAL FASHION MARKET IS ALIVE AND WELL, THE TRADITIONAL MARKETS FOR LUXURY FASHION HAVE BEEN REVIVED BY THE EMERGENCE OF FASHION AT AFFORDABLE PRICES AND NEW LARGE DEVELOPING ECONOMIES LIKE CHINA HAVE STARTED DEMAND FASHION AT IN ADDIBEEN A MADEMOGRAPHIC CURRENT AUDIENCE THE DESIRE BUT IMSPEND ON LUXURIES.

DIFFUSION BRANDS ARE IN KEY TRENDS, THEY CARRY THE HERITAGE AND BEING ON TREND AND AFFORDABLE FOR THEIR NEW A CATWALK AND ACCESSIBILITY OF

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ON

TO GROW A FOR LUXURY A RAPID RATE. TION THERE HAS JOR SHIFT IN THE TO A YOUNGER MORE THAT NOT ONLY HAS PORTANTLY THE CASH TO

POSITION TO BENEFIT FROM THESE HISTORY OF THEIR PARENT BRANDS WHILE AND GROWING AUDIENCE. THEY GET THE GLOW OF THE THE HIGH, VERY MUCH A “WIN WIN”.

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WEBSITE & ADVE

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ERTISING BANNERS

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Re branding fendissime