Carolina Ginorio - Isabel Jimenez - Faith Newton - Manfei Li
Table of Contents COMPANY PROFILE MISSION STATEMENT SWOT ANALYSIS COMPETITION TARGET MARKET
CUSTOMER PROFILE PRODUCT LINE EXTENSION MATERIALS ADVERTISING STORE FRONT MARKETING STRATEGY PACKAGING
Company overview: Founded in 1993, Miu Miu is an Italian high fashion luxury brand that offers womenâ€™s clothing and accessories. Established by Miuccia Prada herself, the label is a fully owned Prada. At a time where Prada was at its most simple aesthetic, Miu Miu offered a contrasting style: a sensual and rebellious take on dressing-up. Embracing both couture savoir-faire and refined experimentalism, Miu Miu explores fashion as form, giving elegance a new edgy and playful meaning. Its style plays on masculine and feminine, inspiration from history and a twisted modernity coming together unexpectedly. Miu Miuâ€™s communication strategy is inspired by its design point of view. Its groundbreaking advertising campaigns characterized by their bold colors and mix and match prints are looked forward to each season. The label also produces short films were they portray their take of their products with the power of femininity. More than just advertising campaigns, their electronic marketing incorporates artwork adds nuance and subtext to the collections themselves, the depth and variety portraying the complex layers of the Miu Miu woman. The attempt is to define a fluid, straighfoward and contradictory vision of modern femininity. Miu Miu occupies some of the worldâ€™s top retail positions in top cities including New York, London, Paris, Milan, Tokyo, Beijing and Hong Kong. Its global boutiques are the bricks and mortar representation of the innovative and unafraid spirit of the brand. Conceived as continually evolving sets, their shops suggest a dramatic but playful attitude to the experience of shopping and dressing up.
MIUCCIA PRADA Founder
Miu Miu engages in the world of creativity and innovation through a careful observation and curiosity, the world, the people, and its culture. It becomes a core part of the companyâ€™s culture and values. It has provoked an interaction with contrasting, yet affix distant world, while introducing clothing and accessories as a symbol and a statement of unafraid fashion in contemporary life, where elegance must meet everyday needs.
S -More affordable than sister company, Prada. -Creative designs that are inspired and established by a fashion house (Prada) -Diverse product line that includes eyewear, fragrances, handbags, and shoes -Available on leading e-retailers -Corporate social responsibility page up on their website; -Very active and pleasing social media -Strong association with luxury -They have recycling their packaging to make sure they are sustainable in some way -Loyal audience
W -Severe competition -Counterfeit products lower their brand image -Very selected target audienceW -Part of a private company so itâ€™s harder to fund
-Entrance to emerging global markets such as South America -Capture the younger generation -Partnerships -New products and services that also align with sustainability -Expand advertising with celebrities to raise more brand awareness
-Competitive market -Substitute products can reduce their profit -Change in economy can reduce dependence on luxury items
Competition: Italian fashion house since 1983 founded by Franco Moschino; Rossella Jardini has served as the labelâ€™s creative director; its style is known for its innovative, eccentric, irreverent and surreal designs. The label has designed outfits for the 2006 Winter Olympics, Lady Gaga, and Madonna.
American fashion designer who started as creative designer for French designer Louis Vuitton; its style is eccentric into luxurious trend setting; styles include funky images, bold geometric shapes, leather, and his trademark fishnet; uses actresses and musicians on campaigns; more than 100 stores; the brand has been endorsed by international celebrities.
Italian house that started in 1918 as a fur and leather shop; best known for the baguette handbags; their style is classic, feminine with a sharpy fashionable spin; has second line called Fendissime; Karl Largerfeld, designer, is known for his work with Chanel; known for being a youthful brand that mixes classic pieces with a few edgy, off-thewall pieces. British luxury fashion house founded in 1996 by shoe designer Jimmy Choo and Vogue accessories editor Tamara Mellon. The house specializes in shoes, handbags, accessories, and fragrances. Their style is characterized by their high quality, unlimited versions and styles, becoming a shoe empire. As the label itself state, they want to sense glamour and empowerment,with playfulness in between. Royalty, musicians, and actresses are among the people who have made a statement with their shoes, helping the brandâ€™s global expansion and their bold look of glamorous, but strong women in high heels.
Target Market: - Miu Miu tries to capture young, sophisticated woman who values trendy fashion with an extra edge. It aims to target an international woman, especially who lives in a city, and that wants to be seen and known for her signature and outstanding pieces. She also values creativity, craftsmanship and durable products. - The eccentric client is in the beginning of her career and works in a creative field such as a designer, photographer, or artist. She wants to be sporty and values eco thinking, quality, and the production process of garments. - Unlike parent company Prada, who is sophisticated and considered, Miu Miu is more naĂŻve. Edgier, funkier and more playful. She is not afraid to make a contrasting statement. -The Miu Miu woman is defined as a fluid, uncontrived, contradictory vision of modern femininity.
Customer profile: Name: Adrianna Age: 31 Location: New York Occupation: Marketing and Public Relations Manager Vals: Experiencer, Innovator Psychographics: Very savvy tech; She is very interested in her appearance so she is on the constant lookout for new, innovative and unusual trends. On her free time, she likes to go for a run, yoga attend galas and special events. loves to travel, read drama novels, and get together with friends for brunch.
Product Line Extension Product line extension has become a great marketing strategy where companies that sell products with a strong image use the same brand name, but other versions of their same product that aims to serve a bigger segment of their target market. Some of it benefits include attracting new buyers who have different or specific preference in materials used in a same product and meeting another need that has not yet been attended. For this reason, we have decide to extend Miu Miu’s footwear line, creating a completely sustainable footwear collection. Miu Miu is not only known for its parent label Prada, but it is prove it has risen as its own distinctive label with its playful and risk-taking aesthetic. The label has a huge opportunity to start its own sustainable line; our main shoe’s style consist of an ankle-strap sandal with a chunky, block heel made out of cork and beads made out of plastic bottles on top of the round open-toe strap. “Doing good” has become part of many label’s values and does not only gain more brand recognition while reducing waste, but it becomes an inspiration for other to follow as well as going into a deeper relationship with employees and customers. Our new sustainable line will higher position Miu Miu with its competition, improves its brand image and equity furthermore.
MIU MIU TERRA Collection
A Sustainable, Eco-friendly, and Innovative Material
Sustainable Cork forests are one of the most environmentally harvested forests since no tree is cut down to produce cork material; the top layers of the tree are stripped off without harming the trees, which then continue to grow new layers.
Cork comes from nature and has natural unique texture and colors that can create beautiful products.
Recyclable Cork is not only recyclable but also biodegradable. During the manufacturing process, no cork is wasted. Furthermore, cork powder can be recovered as useful and renewable source. Why we like it?
Why we like it?
Regarding its functionality, Cork is an ideal fabric for production. Not only is it sustainable, but it is durable and lightweight. The surface is antistatic, antimicrobial, and water-resistant making it a perfect material that is good for the skin and good for the world, and because of this we are using it as our main material.
Natural Unique Recyclable Biodegradable Resilient
recycled material from water bottle
Plastic is a material that consists of synthetic or semisynthetic organic compounds that are malleable and can be molded into solid objects. Many plastics are made from renewable materials and because of this its a great material for sustainability. The average American uses 167 water bottles, recycling only about 38, were a big number goes to waste. Moreover, they can take up to 400 years to decompose so it can be recycled and reused for other purposes such as creating new fibers. Recycling plastic saves twice as much energy as burning it. Because over 1,600 companies are involved in recycling post-consumer plastics; because secondary material involves plastic beads from used water bottles. Using recycled plastic saves up to 5 times the energy generated by waste-to-energy plants. 66% of energy is saved when creating new plastic products from recycled materials. Recycled plastic saves: 5, 774 kWh of electricity 685 gallons of oil 30 cubic yards of landfill space
Lighweight Recyclable resistant Versatile
Terraâ€™s marketing strategy consist of promoting the new line through Twitter and Instagram, since its the labelâ€™s top social media prescense. A couple weeks before the launching of the new sustainable collection, which has its own branding, Miu Miu swill tart publizising advertisement of the main shoe in both social media platforms, creating interest for the audience as to what other styles will align with the new collection. Bold and eye-catching captions will acompany the pictures. Terra will announce its line through Miu Miuâ€™s Twitter page, but will create its own, new Instagram page. Through the photos and short clips uploaded by Miu Miu - Terra, customers will be able to read and learn more information about sustainabilty, as well as exclusive backstage clips of the company and all it takes to be eco-friendly and social responsible.
FASM 400 Prof. Jovenski Issues in FASH Merchandising
Prof. Monika Jovenski Issues in FASH Merchandising FASM 400
The development of a sustainable brand extension for Miu Miu.