“Pets are becoming a replacement for children. They’re less expensive. You can get one even if you’re not ready to live with someone or get married, and they can still provide companionship.”
63% of US Millennials agree that pets should be pampered
In 2016 the US pet industry spend is estimated to be worth
$62.75 billion US Millennials are now the largest population of pet owners in 2014, with 57% owning a cat or dog.
Gucci is an Italian luxury fashion brand founded by Guccio Gucci in 1921. Originally, starting out with an offering of leather goods, it has since expanded its assortment to include women’s, men’s, children’s, apparel, shoes, handbags, accessories, fragrance, and home. With the appointment of Alessandro Michele as creative director, the house is redefining luxury for the 21st century with an influential, innovative, and progressive approach to fashion. Gucci is known for eclectic, contemporary, & romantic product offering while upholding their Italian craftsmanship, quality, and attention to detail.
Company Overview
Brand Extension
Gucci Pups Gucci’s Official Pet Line Dog Collars and Leashes Offered in Small, Medium, and Large Stitched with Gucci’s Signature Colors Made from the Highest Quality Italian Leather
Product
Product Assortment
Collars
$400 - $500
Leashes
$550 - $650
Price
Begins in major cities New York, LA, Miami London, Milan, Paris Hong Kong & Tokyo If successful, Gucci Pups expands to department stores such as Neiman Marcus, Harrods, etc
Place
bosco Brand ambassador for #GucciPups gucci.com/guccipups
Alessandro Michele’s dog, Bosco as brand ambassador Michele has a loyal following, will direct fans to the new product line
People
#GucciPups 10% donation goes to SPCA International Dog runway show
Promotion
SWOT Analysis
Strengths
Weaknesses
Lower price point compared to other Gucci items
Higher price point compared to competing brands
In touch with millennial trends
Only for dogs
No fur policy
Production issues with supply meeting the demand
Michele’s dog shows a personal touch to brand loyalists
Strengths and Weaknesses
Opportunities
Threats
Gaining new clients with entry price
Fast fashion knockoffs
Targeting millennials
Competition producing a pet line
Cross promotion with SPCA
Less people buying luxury goods, more money spent on wellness, travel, pleasure, etc.
If successful, could expand the product line offering
Opportunities and Threats
Eliza
Age 27 Occupation: Advertising Manager Income: $180,000 Lives in New York City Owns a french bulldog named Charlie Ad agency she works for is dog friendly Fashion obsessed and loves dressing up for work Favorite designer is Gucci Enjoys going to art exhibits VALS type: Experiencer
Target Consumer 1
Sofia
Age 25 Occupation: Marketing Manager Income: $60,000 Lives in Miami Owns a pomeranian puppy named Lulu Follows Gucci on social media Runs a lifestyle blog Seen at hip coffee shops and restaurants VALS type: Experiencer
Target Consumer 2
GUCCI PUPS SHOP NOW
Gucci Webpage
Email Blast
Gucci Pups Fashion Aesthetics and Style Fall 2017
Annika DuPree Chelsea Albano Isabel Wild Lian Najarian