Branding Assessment A
Alice, Danielle, Paolo & Pia
"create a collection of iconic essentials women and men would want to wear every day with a focus on distinctive design, enduring style and uncompromising quality"
About 2002: Founded by Christopher LaPolice and Rea Laccone 2006: Acquired by Kellwood Company for $75 Million (NYT) 2010-2012: Sales doubled 2013: NYSE as the second U.S. apparel company 2015: Shares fell
TARGET AUDIENCE: Women: Mid 30s-40s, professional or stay at home, fashion savvy and metropolitan Men: Around 35 years old, financially successful, on trend, metropolitan
Luxury
HELMUT LANG
Classic
JAMES PERSE
Moderate
Fashion Forward
Current Market Trends U.S. largest apparel industry in the world 28% of total U.S. retail sales decreasing 43% of consumers have shifted to Omni channel buying experiences 27.2% increase in online buying
SWOT Analysis Strengths
Weaknesses
-Quality, known for cashmere -Presence in department stores -Experience of executives
-Brand presence -Wholesale -Merchandising -Lack of continuity -Mission does not reflect current status -High employee turnover
Opportunities -Increase brand presence in market -Market expansion -Brand Image -Brand innovation
Threats -Name recognition -Intense and growing competitiors who innovate -Consumer purchasing
Challenges Initial plan was to be an antithesis of a big fashion company Publicly traded Shares fallen to $4.59 Customer profile and objectives
Provisional Solutions REDEFINE CONSUMER PROFILE: Demographics: Women and men, ages 25-40, bachelor degrees, professionals Psychographics: Well-educated, organized and stable, values quality, enjoys yoga, traveling, being active, follows status quo
Provisional Solutions REDEFINE BRAND PROFILE AND BUSINESS OBJECTIVE: Brand Profile: Everyday classics and basics Comfortable luxury Impeccable fit Exceptional quality Inherent style (not trendy) Business Objective: Offer high quality and aesthetically pleasing garments that one can wear all the time
Provisional Solutions Campaigns and social media Brand Ambassadors: Karlie Kloss, Lily Aldridge, Penelope Cruz, Gwyneth Paltrow, Olivia Palermo Brand identity and story Founders
Provisional Solutions Re-design logo to stand out amongst competitors
Original:
New:
REPOSITIONING STATEMENT: “To accomplished, effortlessly polished women whom relish in understated elegance, Vince is the luxury contemporary lifestyle brand that provides impeccable fit, exceptional quality and everyday wearability, curated to cater your eternal style.”
“To restore the name of the English watching industry”
About 2002: Founded by brothers Name origin 2007: First watch launched after development 2013: Retail Jeweller Award
Target Audience Demographics: Men above 35 High income British Psychographics: Passionate about aerodynamics and engineering Luxury products Family-oriented Patriotic
Luxury
U-BOAT ITALO FONTANA
Low Quality
High Quality
Moderate
Current Market Trends Swiss made Partnerships with sports teams and automotive industry Special editions and collaborations
Watch Market Share by Company
SWOT Analysis Strengths -High quality movement engineering -Strong presence in English market -Interesting industry as background
Opportunities -China’s luxury consumers -Indonesia’s luxury consumers
Weaknesses -No history -Manufacturing not in Switzerland -Lack of relevant partnerships and sports events
Threats -Technological advancements -BREXIT -Close competitors (Breitling)
Provisional Solutions Market expansion English specialized engineers, Swiss manufacturers Social media expansion New mission statement
“The evolution of British watch making to a height it has never reached before.�
Provisional Solutions Original:
New:
Provisional Solutions BRAND PROFILE: Swiss made Known worldwide Global partnerships Cool, sleek designs Athletic and Sporty Winning Image CONSUMER PROFILE: Men ages 25 and above Competitive International
Provisional Solutions
Zenith--Felix Baumgartner’s Freefall
https://www.youtube.com/watch?v=FHtvDA0W34I
Thank you!
References Bremont Heritage. Bremont. http://www.bremont.com/explore-bremont/heritage [Accessed 11 February 2016]. Brooke, Eliza. Vince Brings Back its Co-Founders as Consultants. Fashionista. 24 November 2015. http://fashionista.com/2015/11/vince-hires-cofounders [Accessed 20 February 2016]. Griffiths, Ben. The Daily Mail. Time is right for Bremont growth story as luxury watch company sets sights on global expansion, 15 August 2013 [Accessed 8 March 2016]. http://www.thisismoney.co.uk/money/markets/article-2392408/Bremont-watch-company-director-Giles-English-Flying-Legends-air-Time-right-growth-story.html Great British Watch Company. Global Luxury Watch and UK Watch Market. November 2014. http://great-british-watch.co.uk/global-luxury-watch-and-uk-watch-repair-market/ [Accessed 8 March 2016]. Johnson, Emma. The Real Cost of Your Shopping Habits. Forbes. 15 January 2015. http://www.forbes.com/sites/emmajohnson/2015/01/15/the-real-cost-of-your-shopping-habits/#68a5b7d221ae [Accessed 9 March 2016]. Mellery-Pratt, Robin. Vince, a Billion-Dollar Brand Priming for Growth. Business of Fashion. 23 October 2014. http://www.businessoffashion.com/articles/intelligence/vince-billion-dollar-brand-priming-growth [Accessed 20 February 2016]. Picker, Leslie. Vince Surges in First. U.S. Apparel IPO Since Michael Kors, Bloomberg Business. 22 November 2013. http://www.bloomberg.com/news/articles/2013-11-22/vince-surges-after-200-million-fashion-ipo-priced-above-range [Last accessed 9 March 2016]. Soller, Kurt. The Anonymous Fashion Line That’s Cleaning Up on Wall Street. Bloomberg Business, 22 November 2013. http://www.bloomberg.com/bw/articles/2013-11-22/the-anonymous-fashion-line-that-s-cleaning-up-on-wall-street [Last accessed 9 March 2016]. Statista, The Statistics Portal. U.S. Apparel and Accessories Retail E-Commerce Revenue from 2013 to 2018 (in billions U.S. dollars). http://www.statista.com/statistics/278890/us-apparel-and-accessories-retail-e-commerce-revenue/ [Accessed 7 March 2016]. Statista. The Statistics Portal. U.S. Apparel Market-Statistics & Facts. http://www.statista.com/topics/965/apparel-market-in-the-us/ [Accessed 9 March 2016]. Trading Economics. U.S. Retail Sales 1992-2016. http://www.tradingeconomics.com/united-states/retail-sales [Accessed 6 March 2016]. Young, Vicki M. Brendan Hoffman Begins the Drive to Turn Around Vince. Women’s Wear Daily, 11 December 2015. http://wwd.com/markets-news/ready-to-wear-sportswear/vince-turn-around-brendan-hoffman-rea-laccone-christopher-lapolice-fashion-10296373/ [Accessed 27 February 2016].