X FASHION PROMOTION
15100192 BY AMY WILKINSON
CONTENTS 1.0 CONCEPT 2.0 MARKETING EVIROMENT 3.0 PUMA’S GLOBAL CONSUMER 3.1 ADIDAS GLOBAL CONSUMER 3.2 PUMA BACKGROUND 3.3 PUMA SWOT 3.4 ADIDAS BACKGROUND 3.5 ADIDAS SWOT
4.0 PROMOTIONAL TOOLS & STRATGIES 4.1 PUMA’S GROWTH 4.2 ADIDA’S GROWTH 4.3 FUTURE STRATEGY
5.0 PUMA X FENTY ENDOROSMENT 5.1 ADIDAS X YEEZY
6.0 SUPPLY CHAIN MANAGEMENT 6.1 LUXURY SUPPLY CHAIN 6.2 HIGH STREET SUPPLY CHAIN
7.0 ANALYSIS SUMMARY
1.0 MARKETING ENVIROMENT ACCORDING TO (MINTEL, 2017) THE GROWTH IN THE SPORTSWEAR MARKET IN THE UK IS BEING DRIVEN BY A TREND FOR SPORTY CLOTHING AND FOOTWEAR BEING WORN BOTH FOR SPORTS AND EVERYDAY LEISUREWEAR. WOMEN ARE ALSO SHOWING MORE INTEREST IN THE SPORTSWEAR MARKET AND BRANDS ARE RESPONDING BY DESIGNING MORE STYLISH FEMALE SPORTSWEAR.
AS THE CLOTHING MARKET STRUGGLES DUE TO CONSUMERS REACHING ‘PEAK STUFF’, (MINTEL, 2017) SPORTS FASHION DEFIES THIS AND CONTINUES TO GAIN MOMENTUM. THANKS TO THE POPULARITY OF THE HEALTH AND THE FITNESS MARKET THERE IS A CONTINUED DEMAND FOR TRENDLED SPORTS APPAREL. AS SHOWN IN (FIG1) IN THE LAST 12 MONTHS THE MOST PURCHASED SPORTSWEAR ITEMS ARE THE FOLLOW: TRAINERS, SPORTS TOPS AND JOGGING BOTTOMS. THIS IS SHOWING WHAT MOST CONSUMERS ARE INTERESTED IN BUYING IN THE SPORTSWEAR (FIG1) (MINTEL, 2017)
IN 2017, 65% OF THE ADULT POPULATION PARTICIPATED IN A SPORT – AN INCREASE OF NINE PERCENTAGE POINTS SINCE 2016. THIS UPSURGE IN SPORTS PARTICIPATION HAS HAD A KNOCK-ON EFFECT ON THE SPORTS FASHION MARKET, WITH 56% OF PEOPLE PURCHASING SPORTSWEAR IN THE LAST 12 MONTHS. (MINTEL, 2017)
2.0 CONCEPT THIS ASSIGNMENT WILL RESEARCH INTO WHY CELEBRITY ENDORSEMENT IS IMPORTANT TO A BRAND AND HOW CELEBRITY ENDORSEMENT INCREASES BRANDS SALES AND PROMOTIONS.
WHY IS CELEBRTIY ENDORSEMENT IMPORANT TO A BRAND? CELEBRITY ENDORSEMENT IS A PANACEA FOR ALL MARKETING AND PROMOTION CONCEPTS. IT IS TODAYS FREQUENTLY USED APPROACH IN THE FASHION INDUSTRY ALONG SIDE OF MARKETING AND PROMOTIONAL TOOLS FOR ALL BRANDS BUILDING EXERCISES. CELEBRITY ENDORSEMENT IS RECOGNISED AS A POTENTIALLY POTENT TOOL IN COMMUNICATIONS WITH CONSUMERS. CELEBRITIES VIEWED AS MORE POWERFUL THAN ANONYMOUS MODELS AND CAMPAIGNS TENDING TO VERBALISE THE MEANING OF THE CELEBRITY IN RELATION TO THE BRAND. HOWEVER WITHIN THE PAST FEW YEARS BRANDS HAVE BECOME EMBEDDED IN THE CONSUMER PSYCHE AND OFFER CONSUMERS THE OPPORTUNITY FOR SELF EXPRESSION, SELF-REALISATION AND SELF-IDENTITY. THIS EFFECT IS PARTICULARLY STRONG IN FASHION CATEGORIES MAKING A BIG IMPACT ON THE BRANDS SALES. (RESEARCHGATE.NET, 2016) AS THE WORLD OF CELEBRITY BECOMES MORE COMPLICATED WITH MANY STARS BECOMING IMPLICATED IN VARIOUS SCANDALS, RETAILERS AND BRANDS ARE INCREASINGLY COLLABORATING WITH ONE ANOTHER (MINTEL.COM, 2017)
“ENDORSEMENT FROM CELEBRITIES FROM THE MUSIC INDUSTRY MAY BE PARTICULARLY EFFECTIVE WITHIN THE SPORTS CLOTHING AND FOOTWEAR MARKET.” (MINTEL,2017)
3.0 PUMA’S GLOBAL CONSUMER PUMA’S TARGET MARKET CONSUMER CONSISTS OF A WIDE VARIETY AUDIENCE GLOBALLY TARGETING OLDER CONSUMERS AND YOUNGER CONSUMERS MAINLY MIDDLE - UPPER & UPPER CLASS WHO ARE MORE FOCUSSED ON THEIR SELF BEING AND WANT TO LIVE A HEALTHY HYGIENE LIFESTYLE. TO ATTRACT THE CUSTOMERS FROM DIFFERENT SEGMENTS IT IDENTIFIED THE DIFFERENT CHARACTERISTICS SUCH AS MOTIVATIONS, THEIR LIFESTYLE AND THEIR FITNESS LEVEL. PUMA HAS WORKED ON THESE PARAMETERS TO PROMOTE ITS BRAND AND MAKE IT MORE APPEALING TO THE END CUSTOMER. HOWEVER ACCORDING TO PUMA, 2017 THE BRAND ALSO HAS SEEN A BIG RESPONSIVE FROM THE MOBILE DEVICE OF PUMA’S MAIN TARGET AUDIENCE BASE OF 18-24 YEAR OLDS. ACCORDING TO PUMA’S RESEARCH, AT LEAST HALF OF ONLINE CONSUMERS ARE MULTICHANNEL SHOPPERS, MEANING THAT THEY GO BOTH ONLINE AND IN STORES TO MAKE PURCHASING DECISIONS, (PUMA.COM, 2017) PUMA USES A MIX OF DEMOGRAPHIC, GEOGRAPHIC AND PSYCHOGRAPHIC SEGMENTATION STRATEGIES TO UNDERSTAND THE CHANGING NEEDS OF THE CUSTOMERS IN THE COMPETITIVE MARKET.
LUXURY CONSUMER
1 IN 3 CONSUMERS CONSIDER HIGHLY TRAINED EMPLOYEES THE MOST IMPORTANT FACTOR WHEN MAKING A LUXURY PURCHASE.
OVER 30% OF CONSUMERS ARE PURCHASING LUXURY GOODS TO REWARD THEMSLEVES
25% 45%
EARN LESS THAN £25,000 IN ANNUAL HOUSEHOLD INCOME (ACORN, 2017)
EARN £100,000+ IN ANNUAL HOUSEHOLD INCOME (ACORN, 2017)
YOUNGEST & OLDEST CONSUMERS MAKE THE MOST LUXURY PURCHASES 18-24 26-35 37-55
ALMOST HALF (45%) OF CONSUMERS
(33%) OF CONSUMERS
WITH HOUSEHOLD INCOME BETWEEN £50K-£60K CONSIDER THEMSELVES WEALTHY IF EARNING £100K PER YEAR
THINK A HOUSEHOLD INCOME OF MORE THN £200K IS WHAT IS NEEDED TO CONSIDER THEMSELVES “WEALTHY”
10% OF CONSUMERS SAID THEY HAD PURCHASED BETWEEN £25K-£50K
VS HIGH STREET CONSUMER THE AVERAGE UK HOUSEHOLD SPENDS £1,217 ON CLOTHING AND FOOTWEAR EVERY YEAR
HIGH STREET CONSUMERS ARE MORE FOCUSED ON THE QUANTITY OF CLOTHING THAT IS AVAILABLE TO THEM
46%
MORE CONSUMERS ARE SHOPPING ON HIGH STREET STORES RATHER THAN LUXURY
60%
CONSUMERS AGED 18-30 DEDICATE UP TO
OF THEIR DISPOSABLE INCOME TO THE PURSUIT OF THE FASHION WORLD
3.1 ADIDAS GLOBAL CONSUMER ADIDAS USES DIFFERENTIATED TARGETING STRATEGY TO TARGET YOUNG ADULTS, ADULTS AS WELL AS CHILDREN WHO HAVE PASSION FOR FITNESS & SPORTS. ALTHOUGH THE BRAND TARGETS CUSTOMERS IN THE AGE GROUP OF 13-40 YEARS BUT MAJORITY OF ITS CUSTOMERS ARE OF 15-30 YEARS OF AGE WHO HAIL FROM UPPER MIDDLE CLASS OR THE LUXURY CLASS OF CUSTOMERS. (ADIDAS.COM , 2017) RESEARCH STATES ADIDAS STRIVES TO BE THE GLOBAL LEASER IN THE SPORTING INDUSTRY WITH BRANDS BUILT ON A PASSION FOR SPORTS AND A SPORTING LIFESTYLE. “WE ARE COMMITTED TO CONTINUOUSLY STRENGTHENING OUR BRANDS AND PRODUCTS TO IMPROVE OUR COMPETITIVE POSITION”. (MARKETING91.COM, 2017) ADIDAS IDENTIFY AND UNDERSTANDING THEIR CONSUMER’S INDIVIDUAL MOTIVATIONS AND GOALS FOR DOING SPORT, THEIR LIFESTYLE, THEIR FITNESS LEVEL, WHERE THEY ARE DOING SPORT AND THEIR BUYING HABITS WILL HELP THEM IN CREATING MEANINGFUL PRODUCTS, SERVICES AND EXPERIENCES THAT BUILD A LASTING IMPRESSION THE BRANDS LOYALTY.
GLOBAL CHART 2013-2017 PUMA VS ADIDAS
AS SHOWN IN (FIG2) THE CHART IS SHOWING THE RECENT GLOBAL COMPETITORS FOR PUMA; ADIDAS, IS SHOWING NOT MUCH OF A CHANGE FROM 2013-2017 THAT PUMA’S SELLING POINT HAS STAYED IN ONE PLACE WHILST ADIDAS SEEM TO BE INCREASING SALES AND GROWING. Puma Adidas 20
15
10
5
0
2013
2014
2015
2016
2017 (FIG2) STATISTA, 2017)
3.2 PUMA BACKGROUND PUMA IS ONE THE WORLD’S LEADING SPORTS BRANDS, DESIGNING, DEVELOPING, SELLING AND MARKETING FOOTWEAR, APPAREL AND ACCESSORIES (PUMA.COM, 2017) FOR OVER 60+ YEARS, PUMA HAS BEEN PRODUCING INNOVATE SPORTS PRODUCTS FOR THE FASTEST AND MOST TALENTED ATHLETES ON THE PLANET. PUMA ALSO OFFER SPORT INSPIRED LIFESTYLE PRODUCTS IN CATEGORIES SUCH AS; FOOTBALL, RUNNING AND TRAINING, GOLD, AND MOTORSPORTS. PUMA ALSO ENGAGE IN EXCITING COLLABORATIONS WITH RENOWNED DESIGNERS AND CELEBRITIES TO BRING AND DRIVE SALES IN THE SPORTS WORLD. PUMA DISTRIBUTES ITS PRODUCTS IN MORE THEN 120 COUNTRIES AND EMPLOYS MORE THAN 13,000 PEOPLE WORLDWIDE. PUMA’S BRANDS VALUE STAND FOR THE CONSUMERS AND THE BRAND BELIEVES IN PEOPLE AS SHOWN IN (FIG2) PUMA BRAND SEGMENTATION TARGETS ACTIVE, INDIVIDUALS, BOLD AND CREATIVE CONSUMERS WHO ADMIRE ORIGINALITY. RECOGNITION IS IMPORTANT WHEN YOU ARE A RESPONSIVE, CONSUMER DRIVEN BRAND. IN THE EVER CHANGING MARKET, PUMA ATTEMPTS TO ADAPT ITS UNIQUE MENTALITY OF BEING OUTSIDE THE BOX TO THE DESIGN WORLD. ABOVE ALL PUMA STIVES TO SURPRISE CONSUMERS BY CONSTANTLY DELIVERING THE UNEXPECTED AND CHALLENGING. .
3.3 PUMA SWOT STRENGTHS • • • • • • •
PUMA IS ESTABLISHED IN OVER 90 COUNTRIES WELL KNOWN BRAND/LOGO THROUGHOUT THE WORLD HIGH QUALITY, INNOVATIVE PRODUCTS PARTNERSHIPS WITH COMPAIES SUCH AS FERRARIA AND BMW CELEBRITY COLLABORATIONS THE OFFICIAL SPONSOR OF FIFA FOOTBALL INTERNATIONAL CELEBRITIES LIKE USAIN BOLT, RIHANNA, STAR STRIKER SERGIO AGÜERO ETC REPRESENT PUMA AS BRAND AMBASSADOR.
(FIG2) (PUMA, 2017)
WEAKNESSES • PUMA IS A RELATIVELY SMALL COMPANY WHEN COMPARED TO OTHER BRANDS SUCH AS: NIKE AND ADIDAS. • LESS FINAICNIAL STREGNTH COMPAIRED TO OTHER BRANDS IN THE INDISTRY • PRICE IS ONE OF THE MAJOR WEAKNESSES OF PUMA • PRODUCT CANNOT REDUCE PRICE AS SALES PROMOTIONS COMPETE WITH COMPETITORS DUE TO PRODUCT POSITION AND PRICING STAGEY
OPPORTUNITES
THREATS
• THE BRAND CAN START ENTERING THE LIFESTYLE SECTION OF THE FASHION INDUSTRY TO REACH A WIDER AUDIENCE • MORE SPONSORSHIPS CAN INCREASE IN THE INTERNATIONAL EVENTS TAKING PLACE • PUMA CAN ATTEMPT TO INCREASE EFFORT TOWARDS LOYALTY PROGRAMS THAT WILL HELP TO CREATE A STRONGER CUSTOMER RELATIONSHIPS AND INCREASE CUSTOMER BASE
• ECONMY IS STARTING TO IMPROVE BUT IS STILL BLEAK, THEREFORE EXPANSION IS MINIMAL FOR THE BRAND. • IMITATIONS OF THE BRAND ARE EXTENSIVELY INCREASING. • NEW PLAYERS IN THE INDUSTRY WITH MORE FINANCIAL POWER AND MARKETING ACTIVITIES. • INCREASING TAX, GOVERNMENT RESTRICTION AND ECONOMIC DOWNTURNS MAY SLOW THE PERFORMANCE OF THE COMPANY.
3.4 ADIDAS BACKGROUND ADIDAS STRIVES TO BE THE GLOBAL LEADER IN THE SPORTING INDUSTRY BUILT ON A PASSION FOR SPORTS AND LIFESTYLE. THE BRAND FOCUSES MAINLY ON THE CONSUMERS, THIS MEANS THE BRAND CONTINUOUSLY FOCUSES ON IMPROVE THE QUALITY, LOOK, FEEL AND IMAGE OF THEIR PRODUCTS TO EXCEED THE CONSUMERS EXPECTATIONS. ADIDAS PRODUCES A WIDE RANG OF SPORTS APPAREL FOR BOTH AMATEUR AND PROFESSIONAL ATHLETES AND THEIR RESPECTIVE ORGANISATIONS. IN 2006 ADIDAS SIGNED AN 11 YEAR PARTNERSHIP WITH THE NBA, MAKING ADIDAS THE OFFICIAL UNIFORM PROVIDER UP UNTIL THIS DATE. (ADIDAS.COM, 2017)
ACCORDING TO (STATISTA.COM, 2017) ADIDAS IS THE LARGEST SPORTSWEAR MANUFACTURER IN EUROPE AND THE SECOND LARGEST IN THE WORLD. THE BRAND EMPLOYED APPROXIMATELY 60,617 PEOPLE WORLDWIDE IN 2016-2017 WITH ADIDAS OWNING OCER 160 STORES GLOBALLY.
3.5 ADIDAS SWOT STRENGTHS • WORLD WIDE PRESENCE IN OVER 200 COUNTRIES • SPONSORSHIP TO VARIOUS SPORTS AND EVENTS; OLYMPICS, STREET BALL, SOCCER, TENNIS, ETC • BRAND REPUTATION IN ACHIEVING SPORTS PERFORMANCE PRODUCTS • LARGEST MARKET SHARE IN EUROPE • FOCUS ON DEVELOPMENT AND TECHNOLOGY CARE. • STRONG ONLINE PRESENCE • MARKET LEADERSHIP
WEAKNESSES • • • • • •
OPPORTUNITIES • INCREASING FEMALE PARTICIPATION IN SPORTS • E-COMMERCE TO INCREASE MARKET SHARE • POSITIVE AND INCREASING MARKET TRENDS CAN INCREASE THROUGH ADVERTISING (MORE TECHNOLOGY DRIVING PRODUCTS) • INCREASE ADIDAS ENDORSEMNT PROGRAMS
LIMITED EXPUSURE TO THE U.S MARKET HIGH COST STRUCTURE OVER PRICING ONLINE CUSTOMER SERVICE NOT HELPFUL HIGH QUALITY AND INNOVATION ARE COSTLY WASTING RESOURCES TRYING TO OVERTAKE NIKE IN THE US
THREATS • ADIDAS LARGER COMPETITOR; NIKE HAS A GREATER MARKET SHARE AND HAVING A BIG BUDGET IN MARKETING ACTIVITY • NEW BORN BRANDS; NEW BALANCE, REEBOK, CAT, GAP HAVE INCREASED THEIR ADVERTISING BUDET IN RECENT YEARS • GLOBAL ECONOMIC CRISIS • COMPETITORS INCREASING DAY BY DAY
ADIDAS VS PUMA COMPARSION
ADIDAS AND PUMA USE TO BE ONE COMPANY NAMED GEBRÜDER DASSLER SCHUHFABRIK, ESTABLISHED BY TWO BROTHERS, ADOLF AND RUDOLF DASSLER. UPON DISAGREEMENT BETWEEN THEM, THE COMPANY SPLIT, CREATING THE TWO WIDELY KNOWN SPORTING BRANDS, ADIDAS AND PUMA. HOWEVER WITH BOTH BRANDS SPLITTING PUMA SEEKS TO BE THE WEAKEST IN SALES COMPARED TO ADIDAS (ADIDAS.COM, 2017)
3.6 PUMA P.E.S.T.E.L
P E S T E L
• ENVIRONMENT ISSUE/NEW RULES AND LAWS • POLITICAL STABILITY AND IMPORTANCE TO THE COUNTRY’S ECONOMY • TARIFFS AND TRADE RESTRICTIONS AS PUMA FOLLOW THE SAME PROCESS AS ADIDAS AND NIKE.
POLITICS
• PUMA OUTSOURCE PRODUCTION AS MINIMUM WAGE IN ASIA AND IS MUCH LOWER COMPARED TO EUROPE ETC • PUMA NEED TO CONSIDER OUTSOURCING MATERIALS AND THE LOCAL AND INTERNATIONAL LAWS IN ORDER TO MAINTAIN THE PROCESS OF DEVELOPMENT.
ECONOMY
• POLITICAL FACTORS ARE SOMEWHAT CONNECTED TO ECONOMIC FACTORS • STOCK EXCHANGE AND ISSUES THAT AFFECT THE MONETARY • THE ECONOMIC STATE OF OTHER COUNTRIES THAT PUMA TRADE IN WOULD ALSO EFFECT THE COMPANY AND THEIR TRENDS. • EMPLOYMENT LAWS NEED TO BE ABIDED BY • THE EMPLOYMENT LAWS WILL ALSO VARY • DIFFERENT COUNTRIES HAVE DIFFERENT CULTURES THAT MAY AFFECT BELIEFS AS WELL AS REGULATIONS AND HUMAN RE SORCERESS (MANAGEMENTPARADISE, 2015).
SOCIAL
• THERE ARE MORE SOCIAL FACTORS THAT CAN AFFECT A COMPANY THAN ANY OTHER FACTOR, THIS IS DUE TO THE FACT THIS PLAYS AN IMPORTANT ROLE WITH DEMAND OR TENDS THAT POTENTIAL CUSTOMERS WANT/NEED. • MORE PEOPLE ARE BECOMING INTERESTED IN SPORT WHICH IS A HUGHE BENFIT FOR THE COMPANY AS THERE WILL BE BIGGER INCREASES FOR THEM • SPORT IS ALSO CONSIDERED TO PLAY A PART IN TOURISM SECTOR OF PUMA’S MARKET AND IS SEEN THE MOST SUCCESSFUL INDUSTRY, • THE SPORTS SECTOR HAS BEEN CONSTANTLY EVOLVING IN TERMS OF PERSONAL TASTES. (PUMA, 2017) • PUMA MOSTLY BE AFFECTED BY THE ENHANCEMENT OF COMMUNICATION • GLOBAL COMMUNICATION IS ALSO ANOTHER IMPORTANT ASPECT, THESE FACTORS ARE IMPORTANT BECAUSE THE COMPANY IS OPERATING IN DIFFERENT PARTS OF THE GLOBE • ALSO IMPORTANT TO CONSIDER THE DIFFERENT LAWS, LIKE INTELLECTUAL PROPERTY ISSUES (MANAGMENTPARADISE, 2015).
TECHNOLOGY • • • • • •
RISK OF CLIMATE CHANGE LAWS REGULATING ENVIROMENT POLLUTION AIR AND WATER POLLUTION REGULATIONS I WEATHER CHANGES ATTITUDES TOWARDS “GREEN” OR ECOLOGICAL PRODUCTS RECYCLING
• • • • • • •
ANTI TRUST LAW IN THE INDUSTRY AND OVERALL IN THE COUNTRY DISCRIMINATION LAW COPYRIGHT, PATENTS/INTELLECTUAL PROPERTY LAW CONSUMER PROTECTION AND E-COMMERCE EMPLOYMENT LAW HEALTH AND SAFETY LAW PUMA DATA PROTECTION
ENVIROMENT
LEGAL
3.7 ADIDAS P.E.S.T.E.L
P E S T E L POLITICS
• ADIDAS MY FACE MANY RISKS AND CIVIAL UNREST CHANGES IN POLITICAL STABILITY. • ADIDAS FOCUSES ON POLITICAL FACTORS INCLUDING WAR, TERRORISM AND TREMENDOUS CHANGES IN TRADE POLICIES. • EXPORTATION AND NATIONALISATION CAN LEAD TO THE BRAND HAVING SIGNIFICANT LOSS OF MONEY AND DELAY PRODUCT DELIVERY AND SHIPMENT. • NOT EVERY COUNTRY FOLLOWS THE SAME TAX SYSTEM AND THIS CAN CREATE MORE COMPLEX ISSUES, THIS ALLOWS TO TAKE ADVANTAGE OF LABOR SALARY AND FEW COUNTRIES PROVIDE VERY LOW LABOR WAGES. • ADIDAS HAVE FACED MANY ECONMIC DOWNTURNS SINCE 2005. • ENCOMIC FACTORS PER CAPTIA INCOME, INFLATION, UNEMPLYMENT, AND INFALTION TAXATION EFFECTS ON THE BRANDS PROFIT OR GENARTED REVNUE. (ADIDAS, 2017) • STOCK MARKET WILL FACE INSTABILITY IF THE INTEREST RATE FLUCTUATES OR THE GROWTH RATE IS AFFECTED (MARKETING.COM, 2016)
ECONOMY
SOCIAL
• ADIDAS FOLLOWS MAINLY DESIGNING REGARDING FASHION OR CREATES DISTINCTIVE DESIGN. • ADIDAS PRODUCTS ARE BEST TO USE FOR ANY AGE, RAISE, LIFESTYLE AND RELIGION • ADIDAS MAINLY FOCUSES ON PEOPLE WHO ARE ATHLETIC AND LOVE SPORTS. • THE BRANDS SOCIAL FACTORS DO HAVE EFFECT ON INNOVATION AND BUYING HABITS FOR EVERY CONSUMER. • SOCIAL FACTORS NEED TO BE ADEQUATELY DICUSSED AND HELP TO IPLEMENT A STRATGEY. • ADIDAS OWNS UNIQUE TECHNOLOGIES WHICH DISTINGUISH FROM OTHER COMPANIES, THIS WILL BOOST THE BRANDS COMPANY PRODUCTION • SAVING QUALITY TIME AND EFFORT • ADIDAS HAVE IMPROVED IT’S PRODUCTS WHICH IS HELPING THE ENVIRONMENT • EQUIPMENT SHOULD BE UTILISED TO THE BEST OF ITS ABILITY.
TECHNOLOGY
ENVIROMENT
LEGAL
• ACCORDING TO ADIDAS ALL OF THE FACTORIES OR MANUFACTURING UNITS DO NOT PRODUCE ANY RESTRICTED PRODUCTS (ADIDAS, 2018) • HELPING TO REDUCE VOLATILE AND VARIOUS ORGANIC COMPOUNDS EMISSIONS, • ADIDA’S MAIN AIM IS TO ENCOURAGE THESE OF SUSTAIBLE PRODUCTS WHICH WILL INCREASE QUALITY AND PROVES A MAXIMUM FUNCTIONALILTY. • ADIDAS PRODUCE MAINLY THEIR PRODUCTS IN CHINA, THIS IS BECAUSE ADIDAS FOOT WARE IS PRODUCED FROM ANIMAL SKIN. • ISSUES CONCERNING ANIMAL RIGHTS. (ADISTATS.COM, 2018) • SOURCES FROM CHINA, MEANS CHEAP LABOUR COST. • ADIDAS MUST BE WELL AWARE OF ALL LEGAL PROCEEDINGS • THE LEGAL ACTS INCLUDE TRADE, DESCRIPTION, ACT, SALE AND SUPPLY OF PRODUCTS, PRESS AND ADVERTISING STANDARDS • THE BRAND MUST BE AWARE OF EXPORT, IMPORT, SALES AND NAMES OF PRODUCTS. • MUST NOT BE PLAGIARISED OR COPIED FROM ANY TRADEMARK COMPANY, OTHERWISE, A LEGAL ACTION WOULD BE TAKEN IMMEDIATELY (ADIDASSALES, 2017)
4.0 PROMOTIONAL TOOLS & STRATGIES CELEBRITY ENDORSEMENT HAS ALWAYS BEEN SEEN AS A VIABLE OPTION FOR COMPANIES TO PROMOTE THEIR PRODUCTS. MANY COMPANIES BELIEVE HAVING THEIR PRODUCTS ASSOCIATED WITH A POPULAR CELEBRITY WILL HELP DRIVE SALES VIA THE INTERNET. (MARKETING-SCHOOLS.ORG, 2017)
PROS OF CELEBRTIY ENDORSEMENT - GROWTH HAS EXPANDED SINCE LAST YEAR - MORE MONEY - SELLING TO A WIDER AUDIENCE WHEN A WELL KNOWN FACE ENDORSES A BRAND, IT AUTOMATICALLY ATTRACTS NEW TARGET AUDIENCE FOR EXAMPLE THE FANS OF THE CELEBRITY. PEOPLE WHO WOULD HAVE NOT MUCH CARED ABOUT YOUR BRAND WILL NOW GET OPEN TO TRY IT AT LEAST ONCE BECAUSE THEIR FAVOURITE SPORT STAR, ACTOR, POLITICIAN OR MODEL IS ENDORSING IT. THE BIGGER THE CELEBRITY, THE LARGER AUDIENCE BASE THE BRAND GETS TO INVITE IN.
“I GET BORED EASILY,” RIHANNA SAID OF THE NEW DIRECTION FOR HER FENTY X PUMA COLLECTION. “YOU HAVE TO KEEP THE CONSUMER EXCITED.” (RIHANNA, 2017) ACCORDING TO MONEYINC.COM SINCE PUMA’S CELEBRITY ENDORSEMENT COLLABORATIONS WITH RIHANNA, THE COMPANY HAS RECENTLY ANNOUNCED A REPORT OF THE EARNINGS RAPIDLY INCREASING BY 47% WHICH BRINGS THEIR PRE TAX EARNINGS TOTAL TO 66 MILLION. THE FIGURE (FIG3) ALSO SHOW THE COMPANY’S FOOTWEAR SECTOR HAS SIGNIFICANTLY GROWN COMPARED TO THE SAME QUARTER LAST YEAR, WITH GROWTH IN AMERICA ALSO UP A HUGE 17 PERCENT. SALES, MEANWHILE, HAVE INCREASED BY 15 PERCENT HOWEVER THE BRANDS SALES GLOBALLY HAVE RAISED AN IMPRESSIVE 11% TO 1.08 BILLION, WITH BALANCED GROWTH COMING FROM FOOTWEAR AND APPAREL.
(FIG3) (STATISTA, 2017)
“OUR MARKETING WITH PERSONALITIES LIKE RIHANNA, KYLIE JENNER, CARA DELEVINGNE AND, OF COURSE THE UNBELIEVABLE PERFORMANCE OF USAIN BOLT, HAVE INCREASED OUR BRAND HEAT,” (PUMA, 2017) WITH TWITTER AND FACEBOOK FAN PAGES GENERATING A COLOSSAL AMOUNT OF HITS, LIKES AND FOLLOWERS A DAY, THIS IS REALLY BENEFICIAL FOR BOOSTING A COMPANY’S PRESENCE IN THE MARKET PLACE. CELEBRITIES HAVE ACCESS TO THOUSANDS AND IN SOME CASES MILLIONS OF FOLLOWERS, SO IT’S EASY TO SEE HOW LUCRATIVE ONE RETWEET OR THE ODD TWEET ABOUT AN ENDORSED COMPANY, CAN DO FOR THEIR BUSINESS. (DIGDAY.COM, 2015)
CONS OF CELEBRITY ENDORSEMENT ACCORDING TO (SOKOLOVSKA, A, 2016) ONE OF THE BIGGEST CONS OF CELEBRITY ENDORSEMENT IS THE CONSUMERS MIGHT NOT BELIEVE THE ENDORSERS REALLY CONSUME THE PRODUCT THEY ENDORSE AS AN EXAMPLE: IF THE COLLABORATION DOESN'T LINK INTO THE CELEBRITIES CHARACTERISTICS, STYLE AND LOOKS, THIS CAN SEND SEPARATE CONNECTIONS TO THE BRANDS CONSUMER AND THE CELEBRITY ENDORSERS FANS. ANOTHER EXAMPLE CAN BE SOME CELEBRITIES ARE REALLY HUGE AND POPULAR CAN OVERSHADOW THE BRAND IF THIS HAPPENS, SPENDING MILLIONS ON THE ENDORSEMENT STARTS TO MAKE NO SENSE AND CAUSING THE BRANDS FINICAL PROBLEMS TO RISE. ANOTHER RISK CAN ARISE IF THE CELEBRITY LOSES HIS/HER FAME OR IMAGE CHANGING WHICH WILL RESULT TO THE BRANDS LOSE.
4.1 PUMA’S GROWTH GROWTH THE BRAND HAS RELEASED ITS FINANCIAL REPORTS FOR THE FIRST QUARTER OF 2017, WHICH INCLUDE A 92 PERCENT INCOME JUMP TO $54 MILLION. THE FIGURES ALSO SHOW THE COMPANY’S FOOTWEAR SECTOR HAS GROWN ALMOST 25 PERCENT COMPARED TO THE SAME QUARTER LAST YEAR, WITH GROWTH IN AMERICA ALSO UP A HUGE 17 PERCENT. SALES, MEANWHILE HAVE INCREASED BY 15 PERCENT. (PUMA.COM, 2017) REASON BEHIND GROWTH IN RECENT TIMES, PUMA HAS EMBARKED ON AN AGGRESSIVE AMBASSADOR RECRUITMENT CAMPAIGN; BIG SEAN, THE WEEKND, CARA DELEVINGNE AND KYLIE JENNER JUST SOME OF THE TASTEMAKERS TO HAVE JOINED RIHANNA WHOSE PUMA FENTY LINE IS PERHAPS THE MAJOR REASON BEHIND THE BRAND’S OVERTURN IN FORTUNES IN SIGNING ON FOR COLLABORATIVE CAMPAIGNS AND GROWTH.
“FOR THE FIRST TIME IN THE PUMA HISTORY, WE ACHIEVED SALES EXCEEDING €1 BILLION EUR ” SAID PUMA CEO BJØRN GULDEN IN A STATEMENT. “OUR EBIT ALSO DEVELOPED VERY POSITIVELY WITH A GROWTH OF 70 PERCENT TO €70 MILLION EUR (APPROXIMATELY $76 USD). THIS GREAT START FURTHER SHOWS THAT PUMA IS ON THE RIGHT PATH.” (PUMA, 2017)
ACCORDING TO (PUMA, 2017) FOOTWEAR SALES GREW A CURRENCY BY 11 PERCENT, DRIVEN BY STRONG GAINS IN THE RUNNING AND TRAINING CATEGORIES AS WELL AS THE LAUNCH OF THE FIRST RIHANNA-DESIGNED SHOES, PUNK-INSPIRED, THICK SOLED REMAKES OF CLASSIC PUMA SUEDE SNEAKERS.
4.2 ADIDAS GROWTH SALES REACH 19.3 BILLION UP 18% ON A CURRENCY NEUTRAL BASIS AND NET INCOME FROM CONTINUING OPERATIONS CLIMBS 41% TO 1.9 BILLION (ADIDASGROUP.COM, 2017) HOWEVER ADIDAS SHARES, THE BRAND WHICH ARE UP MORE THAN A THIRD THIS YEAR, WERE DOWN 2.6% BY 1100 GMT TO THEIR LOWEST LEVEL IN ALMOST FOUR MONTHS, MAKING THEM THE SECOND BIGGER DECLINER. (ADIDAS, 2017). WHILE REVENUE INCREASED, OVERALL GROWTH HAVE SLOWED WITH SALES ONLY GROWING HALF AS MUCH, ADIDAS PLANS TO HIT 5.3 BILLION BY 2020. ADIDAS SALES HAVE ALSO INCREASED FROM THE YEEZY COLLECTION, ADIDAS SALES GREW 45% BRINGING THE BRAND UP 12% THEN PLANNED, WHICH ALSO HELPED DRIVE GRWOTH FOR ADIDAS SALES. (FASHIONISTA.COM, 2016) ACCORDING TO (ADIDAS, 2017) THE BRAND HAS INCREASED DIGITAL SALES BY 22%, DRIVEN BY DIGITALY SALES IN SPORT PERFORMANCES AS WELL AS AT ADIDAS ORIGINALS AND ADIDAS.
“2016 WAS AN EXCEPTIONAL YEAR FOR ADIDAS. WE HAVE IMPROVED THE DESIRABILITY OF OUR BRANDS AND PRODUCTS AROUND THE GLOBE. AS A CONSEQUENCE, WE WERE ABLE TO INCREASE REVENUES STRONGLY AND ACHIEVE A RECORD NET INCOME OF MORE THAN €1 BILLION FOR THE FIRST TIME IN THE HISTORY OF OUR COMPANY.” (ADIDAS, 2017)
4.3 FUTURE STRATGEY (PUMA) ACCORDING TO PUMA’S ANUAL REPORT(CAMPGINLIVE.COM, 2016) "THE ADDITION OF RIHANNA, AS A BRAND AMBASSADOR AND AS ONE OF OUR CREATIVE DIRECTORS, IS A COMMITMENT TO OUR INCREASED FOCUS ON THE FEMALE CONSUMER SEGMENT, AS WE TRULY BELIEVE THAT THE FUTURE IS FEMALE. FOR YEARS THE MARKET SEGMENT OF FEMALE CONSUMERS HAS BEEN AN ABOVE AVERAGE PERFORMANCE FOR SPORTS PRODUCTS. AND WOMEN WILL CONTINUE TO BE MORE AND MORE INVOLVED IN SPORTS WORLDWIDE, AND SPORTS IS HAVING AN EVER INCREASING INFLUENCE ON FASHION. (PUMA.COM. 2017) PUMA BELIEVE THEY CAREFUL CONSIDER THESE 3 AREAS ESSENTIAL FOR THEIR FUTURE STRATEGY ENVIRONMENT: CONSUMER, COST AND QUALITY OF THEIR FUTURE PRODUCTS.
WE BELIEVE THAT “THE FUTURE IS FEMALE” (PUMA, 2017)
5.0 PUMA X FENTY CELEBRTIY ENDOROSMENT PUMA X FENTY IS MAKING WAVES WITH CELEBRITY ENDORSEMENT IN IT’S ALREADY POWERFUL BRAND WHICH IS TOPPING THE CHARTS AND SALES CREASING DAILY BY THE BRANDS GROWTH OF POPULARITY. THE POWERFUL CELEBRITY ENDORSEMENTS HAVE BUILT AN AMAZING BRAND FOCUS WITH THE CELEBRITY ENDORSEMENT COLLABORATIONS FOR PUMA’S CONSUMERS. CELEBRITY COLLABORATIONS ALLOWS EACH BRAND TO REINVENT THEIR PRODUCT LINES AND INFUSE FREASH FEATURES. AS PUMA’S WORK WITH RIHANNA, THE BRAND CAN SEE HOW THE PRODUCTS ARE INCORPORATING NEW ELEMENTS INTO THE PRODUCTS AND WHATS WORKING FOR THE BRANDS GREATER INTEREST WITH THE MASSES.
SALES ARE UP AT PUMA 2016-2017
3.7%
DUE TO RIHANNA’S FENTY X PUMA
PUMA’S RELATIONSHIP WITH INFLUENCERS HAS BECOME INCREASINGLY IMPORTANT AS THE STYLE COMPONENT WITH SHOPPERS. RIHANNA IS THE MOST HEAVILY INVOLVED, HAVING STEERED STYLIST COLLECTIONS WITH PUMA FEATURING AT FASHION WEEK IN, NEW YORK AND PARIS. RIHANNA’S COLLECTION WITH PUMA OFFERS CONSUMERS A WIDE RANGE OF PRODUCTS INCLUDING, SHOES, TRAINERS, CLOTHING AND ACCESSORIES, THE DESIGNER HAD AN INTACT AS TO WHAT SHE WANTED THE FENTY X PUMA COLLECTION, TO MAKE SURE THE COLLECTION INCLUDED RIHANNA’S OWN PERSONAL STYLE, THIS ALSO PLAYED A BIG PART IN THE BRANDS SALES AND GROWTH, AS THE COLLECTION ENGAGED MORE WITH THE FANS. (FOOTWEARNEWS.COM, 2016)
PUMA X FENTY SHOWROOM RIHANNA’S PUMA X FENTY SHOWROOM CONSISTS OF A COOL AND EDGY VIBE. THE PRIVATE SHOWROOM FEATURED A MINIMAL SCHOOL LOOK AND OFFERED THE CHANCE TO GET A CLOSER LOOK AT THE COLLECTION, THE DEALING OF THE GARMENTS AND TO EXPERIENCE RIHANNA’S BACK TO SCHOOL VIBES OF THE COLLECTION. TO HELP PROMOTE THE SINGERS LATEST COLLECTION WITH, PUMA SOCIAL MEDIA PLATFORMS ARE BEING USED AT THE SHOWROOM EVENT, SUCH AS INSTAGRAM AND FACEBOOK. ACCORDING TO (THESTOREFRONT.COM, 2017) FANS GOT TO VIEW LIVE STREAMS OF RIHANNA'S SHOWROOM PREP COLLECTION BEFORE THE MODELS ENTERED THE ROOM TO GIVE THE FANS A SNEAK PEAK OF WHATS EXPECTED.
5.2 ADIDAS X YEEZY CELEBRTIY ENDOROSMENT ACCORDING TO ADIDAS CEO HERBERT HAINER YEEZY’S COLLECTION WITH KANYE WEST HAS RAISED THE BRAND’S STANDING IN THE US, TURING AROUND FOOTWEAR SALES AGAINST COMPETITION FROM NIKE, HOWEVER WITH SALES IMPROVING WITH THE BRANDS SALES UP 9% ON THE YEAR 2016 WITH EARNINGS OF £2.2BN FROM KANYE’S YEEZY COLLECTION. (ADIDAS.COM 2017). KANYE WESTS YEEZY BOOST SNEAKERS INCORPORATE THE POPULAR BOOST TECHNOLOGY FEATURED IN MANY OF ADIDAS’S PRODUCTS. INFLUENCER KANYE THEY’VE ALSO SOLD OUT WITHIN MINUTES OF BEING RELEASED TO THE PUBLIC, AND HAVE A RESALE VALUE IN THE THOUSANDS. THE WEST DROVE YEEZY BOOST STYLE IS INSPIRED BY KANYES LOOKS AND HAS AN OVERALL STREETWEAR APPEAL TO I. KANYE WANTED TO INCORPORATE MORE OF A CASUAL LOOK; SWEATSHIRTS, T-SHIRTS, FOOTWEAR SALES LEGGINGS, CASUAL JACKETS, AND SNEAKERS THAT FEATURE BROWN, BLACK, OLIVE GREEN. (ANOTHERNIKEBOT, 2016)
95%
“NOT ONLY [HAVE THE YEEZY’S] SOLD OUT INSTANTLY BUT [THEY HAVE] ALSO PLAYED A MAJOR ROLE IN PROPELLING ADIDAS TO THE MOST POPULAR SNEAKER BRAND ON INSTAGRAM IN 2015.” (ADIDAS CEO, 2015) FROM MAY 2016 TO MAY 2017, ACCORDING TO DATA FROM RESEARCH FIRM NPD GROUP, ADIDAS’S US SNEAKER SHARE NEARLY DOUBLED, FROM 6.3% TO 11.3%. IN. SHOWING KANYE WESTS SELL OUT OF THE YEEZY BOOSTS FOOTWEAR STATS ARE SHOWING THAT HAVING A CELEBRITY ENDORSEMENT COLLECTION WITH A BRAND IS KEY TO INCREASING A BRANDS GROWTH AND PROMOTION.
ADIDAS X YEEZY SHOWROOM KANYE’S YEEZY PRE SHOWROOM COLLECTION ARE LIMITED TO PRIVATE PEOPLE, WITH AN INVITE ONLY WITH KANYE MAY NOT EVEN ATTENDING THE PRE EVENT. THE PRE SHOWROOM EVENT IS INVITATION ONLY LIMITED TO CERTAIN BUYERS, BRANDS AND CELEBRITIES. THE SHOWROOM LAYOUT CONSISTS COMPLIMENTARY SKIN TONE COLOUR PALETTE, FEATURING MODELS WEARING THE YEEZY COLLECTION. (HYPEBEAST.COM, 2017) YEEZY’S PRE SHOW ROOM EVENT FOR YEEZY IS STRICTLY HIDDEN, MEANING PEOPLE WHO ARE INVITED TO THE COLLECTION PREVIEW ARE NOT ALLOWED TO TAKE PHONES AND CAMERAS INTO THE SHOWROOM, STRICTLY BECAUSE KANYE WANTS EVERYTHING TO BE HIDDEN UNTIL THE LAUNCH.
6.0 SUPPLY CHAIN MANAGEMENT
HIGH STREET MARKET SUPPLY CHAIN PUMAS HIGH STREET MARKET IN 124 FACTORIES, 117 ARE LOCATED IN ASIA, 4 IN EURPOE AND 3 IN AMERICA. (ABOUTPUMA.COM, 2017) PUMA’S MULTINATIONAL CORPORATION HOLD INCREASING GLOBAL ECONMY, NOT ONLY RISKS BUT THE BRAND PROVIDES OPPORTUNITIES. THIS INVOLVES CREATION NEW JOBS IN EMERGING DEVELOPMENT COUNTRIES, THE EXPORT AND ENVIRONMENTAL AND SOCIAL STANDARDS AND THE IMPORTANCE OF NEW UPCOMING IDEAS FROM DIFFERENT CULTURES. ACCORDING TO (PUMA.COM, 2017) “A WITHDRAWAL FROM SOURCING COUNTRIES AND SUSTAINABLE SOLUTION WOULDN'T CHANGE THE CURRENT SITUATION IN THE FACTORIES, HAVING DUE TO HIGH ORDER VOLUMES, PUMA AND OTHER GLOBAL BRANDS CAN ACTIVELY EXERT INFLUENCE AND ENFORCE INTERNATIONAL STANDARDS.
LUXURY MARKET SUPPLY CHAIN MOST OF THE LUXURY BRANDS GLOBAL SUPPLY CHAIN MANUFACTURING NETWORKS ARE IN ASIA, WITH THE BIGGEST LOCATION BEING CHINA (MOST SPORTSWEAR BRANDS SUPPLY FROM) WHICH IS BECOMING TOO EXPENSIVE AND A STRONG PUSH FOR MORE MANUFACTURERS IN RECENT YEARS. MANY LUXURY BRANDS SHIP TO RETAILERS AT THE END OF THE MONTH FOR THE FINICAL ANALYTICS. IN RESPONSE, THE LUXURY HOUSES HAVE INCREASED THE NUMBER OF COLLECTIONS THEY PRODUCE, AS WELL AS THE SPEED WITH WHICH THEY TAKE THOSE COLLECTIONS FROM THE CATWALK TO THE SHOP FLOOR.
HIGH STREET MARKET SUPPLY CHAIN VS LUXURY MARKET SUPPLY CHAIN HIGH STREET DESIGNS ARE SO STYLISH, THEY CAN BE SEAMLESSLY MIXED AND MATCHED WITH LUXURY ITEMS FOR EXAMPLE PERSONAL SHOPPING SERVICES ARE NOW OFFERED ON THE HIGH STREET. COMPARING HIGH STREET FASHION WITH THE LUXURY WAS EXPENSIVE, EXCLUSIVE AND TAILORED TO FIT, WHILE HIGH STREET WAS CHEAP, GENERIC AND MAINSTREAM. LUXURY INSISTED ON THE FINEST MATERIALS AND CRAFTSMANSHIP, HIGH STREET FASHION FOCUSED ON PRICE AND CULTURAL RELEVANCE. LUXURY CONSUMERS EXPERIENCED VALUED QUALITY AND EXCLUSIVITY, WHILE HIGH STREET FASHION CONSUMERS SOUGHT OUT CULTURAL RELEVANCE, IMMEDIACY AND LOW PRICES. (DIGDAY.COM, 2017) PUMA SPECIFIC PROGRESS TOWARDS GRADUALLY LOWERING THE EP&L VALUE BY USING MORE SUSTAINABLE RAW MATERIALS AS SHOWN IN (FIG4), PROMOTING RESOURCE PRACTICES IN THE BRANDS SUPPLY CHAIN AND, INTEGRATING SUSTAINABILITY CONSIDERATIONS BACK INTO PRODUCT DESIGN AND DEVELOPMENT PROCESSES. (ABOUT.PUMA.COM, 2017)
(FIG4)
7.0 ANALYSIS SUMMARY IN CONCLUSION THE PERCEPTION OF CELEBRITY ENDORSEMENT IS IMPORTANT FOR A BRAND AND INCREASING THE BRANDS SALES, PROMOTION AND GROWTH, AS SHOWN IN THIS REPORT FROM PUMA X FENTY COLLECTION WITH RIHANNA, AND ADIDAS X YEEZY WITH KANYE WEST, CELEBRITY ENDORSEMENT HAS MADE A HUGH IMPACT ON BOTH BRANDS FROM THESE CELEBRITY INFLUENCER COLLABORATIONS, THIS REPORT IS SHOWING A POSITIVE IMPACT ON WHY BRANDS SHOULD USE CELEBRITY ENDORSEMENT TO HELP BUILD THE BRANDS COMPANY IMAGE AND DRIVE SALES. HOWEVER NOT ALL BRANDS CELEBRITY ENDORSEMENT COLLABORATIONS HAVE A POSITIVE EFFECT ON THE BRAND, FOR EXAMPLE IF THE CELEBRITY ISNT USED EFFECTIVELY LINKING TO THE BRAND THIS MAY HAVE A KNOCK BACK AFFECT ON THE BRAND.
x
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