Brand Extension Report as part of the module, Luxury Strategy
Submitted by: Abhilasha Mehta, Niyati Chawla, Shaunessa Nongrum and Tavraj Singh Bindra
Luxury Brand Management Level-2
Submitted to: Dhiraj Khanna, Nitin Nayyar and Alka Gupta
Acknowledgement On the very outset of this report, we would like to extend our sincere and heartfelt obligation towards all the personages who have helped us in this endeavour.Without their active guidance, help, cooperation and encouragement we would not have made headway in the project. We are extremely thankful and pay our gratitude to our tutors for this module, Mr Dhiraj Khanna, Mr Nitin Nayyar and Mrs Alka Gupta for their valuable guidance and support on completion of this report in its presently. We also acknowledge with a deep sense of reverence, our gratitude towards our parents and members of our family, who have always supported us morally as well as economically.
Table of Contents Introduction to Givenchy Introduction to Schiaparelli
About the Collaboration Concept Rationale of the Concept
Collaboration Strategies Financial Strategies Launch Pad Marketing Campaign Social Media Marketing Conclusion 4
With its world-renowned collections of men's and women's fashion, Givenchy has been sensuously reinterpreting the codes of elegance, sophistication and femininity since it was founded in 1952.
Givenchy is continuing its expansion overseas and plans to open over twenty boutiques a year throughout the world, particularly in the United States, the Middle East, Europe and Asia. Givenchy boutiques will be opened in all the capital cities of the world and in the very best locations: from New York to Tokyo, and in Milan, Miami and London. In 1988, Givenchy joined LVMH MoĂŤt Hennessy Louis Vuitton. In 1993, the brand achieved a total sales worth of $176 million, making it the second largest apparel division of LVMH after Dior.
Hubert de Givenchy Hubert de Givenchy was an ambitious visionary and just 24 years old when he founded his House. He was able to predict the casual chic and democratization of luxury that would leave its mark on the 20th century, and launched his 'sĂŠparables' - elegant blouses paired with light skirts. This was the start of his success. Loved by some of the most iconic stars of the 20th Century - from Grace Kelly, Elizabeth Taylor, Jackie Kennedy and Wallis Simpson, to his most famous muse Audrey Hepburn - Givenchy's name and legacy have been synonymous with Parisian chic for more than 50 years. Givenchy sold his label in 1988, and retired seven years later, only to watch his former business go from strength to strength under some of the industry's most exciting designers; from John Galliano, to Alexander McQueen, to Riccardo Tisci. Givenchy, now in his Eighties, is almost entirely absent from the fashion spotlight, only emerging to comment on momentous fashion occasions like the royal wedding. 9
Riccardo Tisci Italian-born creative director of Givenchy Riccardo Tisci has resurrected the Parisian house to its former profitable glory with dark, sensual and subversive collections. Impressively, Tisci has crafted distinct brand identities for all of Givenchy’s product categories across women’s and men’s ready-to-wear and haute couture. Tisci admitted that he found the prospect of designing couture initially daunting. "In the beginning, to be honest I was super-scared," he told Dazed Digital in January 2011. "I turned up and took a step back and said, 'I am here to learn,' and I feel the same today. I've got only to learn from these people because they have been doing couture for 30 or 40 years, so I keep learning every season." Since his appointment, the designer has helped the label boost its sales considerably. Tisci’s marriage of streetwear influences, Parisian sensibilities and global motifs has made Givenchy’s printed sweatshirts a fashion staple, as well as broadening the brand’s appeal exponentially.
Womenswear and Menswear • Pret-a-Porter
• Haute Couture
Accessories • Jewellery
• Leather Goods
Beauty • Makeup
The House of Schiaparelli was first opened in the 1930s, and is one of the first surrealist brands that brought a shock factor into fashion. In 2007, Diego Della Valle acquired the brand, but it wasn't until Marco Zanini was appointed in September 2013 that details of the brand's revival became public. The house has been nominated for a return to the Chambre Syndicale de la Haute Couture list of members, and presented its first show since nomination in January 2014.
Elsa Schiaparelli In the roaring 20’s and glittering 30’s, Elsa Schiaparelli was considered the reigning monarch of women’s fashion. Elsa Schiaparelli was born on September 10, 1890, in Rome, Italy. After working at a boutique in New York, Schiaparelli moved to Paris, where she began designing her own clothes. Her work and sense of style shaped the look of fashion in the 1920s and '30s, and her clothes were worn by some of the world's most famous women, including American actress Greta Garbo. She is noted for introducing many styles and techniques into the fashion history. She was the first designer to create zippers in colours that matched the material used in her garments, and was also the first to adorn clothes with detailed, brooch-like buttons. She was also the designer that introduced the idea of showcasing designs on a catwalk, accompanied by music and art. Schiaparelli died in Paris on November 13, 1973. In her creations one can chart the shifting roles of women and the social revolution that inspired them. Practical and whimsical at the same time, Elsa Schiaparelli called upon the muses of irony, eccentricity and function without detracting from the sensuality of a woman’s form.
On April 28, 2015, Bertrand Guyon was appointed Design Director of all Haute Couture and Prêt-à-Couture collections. Together with the design studio and the atelier at the top floor of Schiaparelli’s historical couture house at 21 place Vendôme, the very location where Elsa Schiaparelli worked, Bertrand Guyon brings to Schiaparelli’s team his creative energy and talented expertise that he gained working for the most renowned couture houses and designers in Paris and Rome.
Womenswear • Pret-a-Porter
• Haute Couture
Accessories • Leather Goods
About the Collaboration
On account of Givenchyâ€™s 65th Anniversary, the brand will join hands with the House of Schiaparelli to launch a limited edition collection. The inspiration behind the collection is Flora and Fauna.
Concept: SURREALISM A 20th-century avant-garde movement in art and literature which sought to release the creative potential of the unconscious mind. Surrealist philosophy of art was to have no boundary of logical conception, it thus, gives the pathway for some very original and fun fashion pieces. From the 20 century art movement to todayâ€™s perception of reality. What began as a fashion experiment with a contemporary-art movement has become a source of inspiration for ready-to-wear and fast-fashion labels worldwide. Both Givenchy and Schiaparelli have demonstrated that fashion need not adhere to convention.
Rationale of the Concept • Impressive Growth of Givenchy Givenchy’s revenues in 2014 were almost £160 million, reaching half a billion within the next few years. LVMH has announced that it has broken its sales records for the second consecutive year. The stores saw annual sales rise of 6.1 percent to £1.1 billion. and operating profit reached £134 million.
• Revival of the House of Schiaparelli Since closing its doors in 1954, the house of Schiaparelli, once synonymous with fun, experimental design, has lain silent. But in September 2013, news reached the fashion world that a revival was on its way, with the Milanese Marco Zanini at the helm. Now, with life breathed back into the brand by Zanini’s playful aesthetic, Schiaparelli seems set to retake its place among the other Paris Haute Couture greats.
• Contrasting Brand Essence Both Givenchy and Schiaparelli differ strikingly with regard to brand identity and have also been known to break the norms of fashion.
Collaboration Strategies • Differentiation Strategy: The collaboration offers a collection so unique that it will be something neither one of these brands has offered to it’s customers.
• Focus Strategy: The theme of the collaboration is Surrealism in Flora and Fauna. It focuses on the artistic and bold side of its customers.
source: Wall Street Journal
•LVMH has seen a considerable growth in its net income, its one of the most successfully growing Luxury Conglomerates.
•Tod’s Group, the parent company of the House of Schiaparelli, has seen a downfall in its net income since 2014. •Being the second most profitable house of the LVMH conglomerate, Givenchy stands at power to further assist the revival of the House of Schiaparelli’s once famous name in the world of fashion.
Launch Pad: Givenchy & Schiaparelli Avante Garde Preview
Pieces from the Collection
Location for the Preview Luxembourg Gardens in Paris, France.
This was the first French garden to be influenced by the Italian Baroque. The gardens, and the palace, were begun in 1612. The Luxembourg has long been seen as a quintessential Parisian space and remains very popular. Today, as in the seventeenth century, it is a good place to savour the cosmopolitan atmosphere of a rich palace garden.
Marketing Campaign To create a buzz for the upcoming collaboration preview, Givenchy and Schiaparelli will set up instillations inspired by floral surrealism at all the exclusive spots in Paris namely, Champs Elyees, Avenue Montaigne, Place Vendome and more.
Social Media Campaign • Clips showing the processes and craftsmanship behind the Givenchy and Schiaparelli Avante Garde Preview on Instagram and Youtube. • New campaigns will be shot based on the collaboration and will be featured on all major fashion magazines, blogs, social media such as Facebook and Snapchat as well as on both the brand’s respective websites.
Conclusion Givenchy in the coming years has evolved from being a sophisticated French Luxury brand to being a Fashion forward yet controversial Fashion house. On the other hand the House of Schiaparelli continues to incorporate in its couture the design ideals of its surrealist founder, Elsa Schiaparelli. In todayâ€™s modern day and age where in which customers are becoming more bold and art oriented the collaboration between Givenchy and Schiaparelli will be accepted by the fashion world with open arms. The blend of the two brands will not only revive the lost image of Schiaparelli but will also pave way for a new approach in Givenchyâ€™s brand aesthetics.
References • GIVENCHY — Official Website. [online] Available at: https://www.givenchy.com/en/explore/floral/ [Accessed 27 Nov. 2016]. • Quotes.wsj.com. (2016). LVMH.IT Stock Price & News -
LVMH Moet Hennessy Louis Vuitton SE - Wall Street Journal. [online] Available at: http://quotes.wsj.com/IT/MTAH/LVMH [Accessed 27 Nov. 2016].
• Quotes.wsj.com. (2016). TOD.IT Stock Price & News - Tod's S.p.A. - Wall Street Journal. [online] Available at: http://quotes.wsj.com/IT/MTAA/TOD [Accessed 27 Nov. 2016]. • Dee, B. (2016). Givenchy Posted Impressive Growth, Hints at More to Come. [online] Fashion Times. Available at: http://www.fashiontimes.com/articles/1352/20131107/givenchyposted-impressive-growth-hints-more-come.htm [Accessed 27 Nov. 2016]. • Lingerissimi.wordpress.com. (2016). What is the impact of surrealism to the world of fashion?. [online] Available at: https://lingerissimi.wordpress.com/2010/10/20/how-doessurrealism-affected-the-world-of-fashion/ [Accessed 27 Nov. 2016]. 44
â€˘ Available at: https://en.wikipedia.org/wiki/Hubert_de_Givenchy [Accessed 27 Nov. 2016]. â€˘ CPP-LUXURY. (2016). The house of Elsa Schiaparelli makes
controversial come-back with collection not for sale - CPPLUXURY. [online] Available at: http://www.cppluxury.com/the-house-of-elsa-schiaparelli-makes-controversialcome-back-with-collection-not-for-sale/ [Accessed 27 Nov. 2016].