Jimmy Choo - Situational Analysis

EMILY LINDSAY N0733170 1858 WORDS

“

A designer knows he has achieved perfection not when there is nothing left to add, but when there is nothing left to take away.

- JIMMY CHOO

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’’

CONTENTS

INTRO 2 Contents 3 Ethics clause 4 Introduction to the essay

RESEARCH & ANALYSIS 15 Methodlogy 16 Market health 19 PESTLE analysis 21 Competitor analysis

BRAND AUDIT 5 Brand overview 6 Brand Health 7 Misson statement 8 Brand positioning 9 SWOT analysis 11 Ansoff’s Matrix 13 Pen portrait

CONCLUSIONS 22 Key conclusions 23 Brand recommendations OTHER 24 Bibliography 25 References 26 Illustrations 2

ETHICS CLAUSE

I confirm that this work has gained ethical approval and that I have faithfully observed the terms of approval in the conduct of this project.

Signed.....................................................................

Date........................................................................

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INTRODUCTION

This report will look at the luxury shoe and accessory brand, Jimmy Choo. The aim of this report is to analysis the brand in detail, using key marketing models, such as PESTLE and Ansoff’s Matrix, as well as outlining macro trends and how they may be affected in the future.

Furthermore, this report will evaluate the brand, explaining the success factors and barriers, company issues and potential opportunities.

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BRAND AUDIT BRAND OVERVIEW Jimmy Choo is a luxury global brand, predominately known for expensive and lavish footwear for both men and women, complimented by accessories.

Since Jimmy Choo was founded in 1996, it has continually offered a luxurious, sophisticated and iconic product range.

Whilst Jimmy Choo’s core products are shoes, the brand also offers a large range of high end handbags, belts, eyewear and fragrances.

Jimmy Choo’s main product strategy revolves around iconic and traditional products, with produce being classy and ageless. This allows Jimmy Choo to have a broad target market, appealing to a wide range of consumers, both male and female.

TOTAL REVENUE (2016)

£364.0M 5

MAP SHOWING TOTAL REVENUE (2016) OF SHOWN CONTINENTS

BRAND HEALTH Overall, Jimmy Choo’s brand health is relatively positive, and will only continue to grow. As shown in the map above, total revenue for Americas and EMEA are successful with a rather large total.

As pointed out in Jimmy Choo’s 2016 annual report, they hope to increase revenue in the eastern parts of the world in Asia and Japan. Total revenue for Asia and Japan are significantly lower than the total revenue of Americas and EMEA. Jimmy Choo plans to add 2 flagship stores to the eastern parts of the globe, situated in Shanghai and Tokyo, as well as continuing to plan to open 10 stores a year.

According to Jimmy Choo’s annual report (2016), “This store opening programme is weighted towards China, where we remain underpenetrated relative to many larger luxury peers. This store opening rate allows us to capture the growth potential of the white space whilst ensuring the quality of execution maintains the Jimmy Choo luxury positioning and brand image”. The quote suggests that Jimmy Choo are hoping to match the revenue of Americas and EMEA

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BRAND AUDIT MISSION STATEMENT

Jimmy Choo provides its consumers with a sense of exclusivity and extravagance, empowered by their strong impression of confidence and seductive, effortless style.

When consumer buy into Jimmy Choo, not only are they buying products such as pair of heels or a leather bag, they are also buying into the brand its self. Many of Jimmy Choo’s advertisements and marketing schemes are often focused around a sexy and glamorous model figure; suggesting that when consumers buy a Jimmy Choo product, they also are buying into that lifestyle and image that is represented in the advertisements.

Jimmy Choo 2016 Cruise advertising campaign

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BRAND POSITIONING

FASHIONABLE

INEXPENSIVE

EXPENSIVE

NOT FASHIONABLE

This Perceptual Map shows where the brand Jimmy Choo is in relation to other shoes brands and competitors such and Louboutin, Manolo Blahnik and Dolce and Gabbana. The map clearly shows that Jimmy Choo is one of the most expensive brands, but may not be as fashionable as competitor Louboutin.

Whilst Jimmy Choo remains timeless and elegant, Louboutin is known for having a broader range of styles of shoes appealing to more consumers, such as brighter colours and louder designs. This potentially being a reason why Louboutin remains more fashionable in comaparison to Jimmy Choo.

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SWOT ANALYSIS STRENGTHS - Jimmy Choo is an iconic, traditional and well recognised brand across the globe; allowing them to not have to spend a lot of money on marketing as they are already well known. Also allows them to not have a high social media presence as again they are already well known.

- Since Jimmy Choo only sells footwear and soft accessories; it allows the brand to be an exclusive line of premium products rather than excessive clothing. It gives the brand a high sense of quality within the products, and allows the brand to focus on ‘less is more’.

WEAKNESSES - Jimmy Choo’s inability to diversify products due to products only being footwear and accessories means it may lose out in sales compared to competitors such as Dolce and Gabbana; who offer clothing and accessories.

- Jimmy Choo don’t cater to all feet sizes and are known for having narrow fit shoes.

This excludes a large pool of consumers who many not have the suitable narrow fit feet; potentially causing Jimmy Choo to loose out on sales/revenue.

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OPPOURTUNITIES - As previously mentioned, Jimmy Choo hope to expand to Asia in the next few years; hoping to match revenue with that in the Americas and EMEAs and boosting brand awareness.

- The brand was recently brought by Michael Kors, a fellow luxury accessory and clothing brand. This may allow for a different design perspective, potentially allowing for new and different products.

- Jimmy Choo’s recent big collaborations with Off white and the Cinderella movie will most likely increase their pool of consumers and appeal to a wider audience; boosting sales and revenue.

THREATS - Naturally like any other luxury brands, Brexit poses a threat. A lower employment rate and less trade between nations can leave parts of the population who would normally buy into luxury brands with less disposable income, causing income elasticity; a decline in demand of luxury products such as Jimmy Choo.

- Other competitor high end brands such as Louboutin have competitive advantages such as their bespoke made to fit line, potentially causing higher revenue and sales compared to Jimmy Choo.

- A threat of substitute products from high street brands copying Jimmy Choo products and designs for a fraction of the price may also cause lower sales and revenue.

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BRAND AUDIT ANSOFF’S MATRIX

1. MARKET PENATRATION As outlined in Jimmy Choo’s 2016 annual report, the brand hopes to expand Omni channel systems throughout it’s business. This involves existing products in existing markets but using modern technology to market products in a seamless and cohesive way.

Jimmy Choo relies on it’s core luxurious heritage and traditional and elegant personality to connect and stay relevant with consumers. Because the brand is very well known and iconic across most of the globe, Jimmy Choo don’t have to try very hard marketing wise to stay relevant, as they known they remain a timeless brand that offers what the consumers want; simple but stylish footwear and accessories.

2. MARKET DEVELOPMENT Jimmy Choo continually work towards penetrating new markets with their existing products; an example being the eastern parts of the world. Jimmy Choo’s branding is not as distinct in Asia and Japan, and Jimmy Choo hope to successfully penetrate the market by opening 2 flagship stores across the both Asia and Japan. By doing so, Jimmy Choo hope to make an impact on eastern consumers and lifestyle, as well as increasing the brands sales and annual revenue.

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3. PRODUCT DEVELOPMENT Product development for Jimmy Choo has been part of the brand’s natural development since the brand was founded in 1996. In recent years, Jimmy Choo have introduced trainers/sneakers into their footwear line, which helps bring in a larger pool of consumers; potentially those who don’t always want to wear heels and want to prioritise comfort whilst still having a stylish element.

The brand also introduced men’s footwear and accessories as recent as 2011, which opened a whole new opportunity to Jimmy Choo. ‘Made to order’ by Jimmy Choo has also been a huge success and product development for the brand, giving consumers a more personal connection with the brand, by having their design on their shoes.

4. DIVERSIFICATION As previously mentioned, Jimmy Choo have attempted to diversity and vary their line of products by adding trainers/sneakers into their line of luxury footwear to appeal to a larger group of consumers.

Since the brand started, soft accessories such and bags, belts and sunglasses have been added to their product offering, keeping up with their fellow competitors. Whilst Jimmy Choo have dabbled in diversification, they still remain largely traditional in their products, potentially causing them to fall behind in sales compared to competitors such as Louboutin and Dolce and Gabbana, who have successfully diversified their products in terms of keeping up with key consumer trends and modern day technology.

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BRAND AUDIT PEN PORTRAIT

COLETTE, 39

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Colette lives on a private drive in a terraced house, located in South Kensington, London.

She is a working, upper class entrepreneurial mother of 2, and is married to a successful property developer, Mark, who employs a nanny for the children.

Aside from work she is a well-known socialite in the Kensington district, and regularly organises events and meetings with women of similar interests and occupations.

Many of her social events include wining and dining, where she wears her Jimmy Choo’s as her individual statement piece. (She is well known for wearing her Jimmy Choo’s to these events.)

You can often find her carrying around a large Celine bag, in which she keeps a pair of Jimmy Choo sneakers that she can change into depending on the weather conditions.

Colette is more than happy to buy into expensive and luxury products as she feels that quality and authenticity are one of the most important things when it comes to clothes and accessories. She feels a personal connection with the brand Jimmy Choo as she had her wedding shoes ‘made to order’ with her wedding date engraved on the soles.

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RESEARCH METHODOLOGY Whilst researching the brand Jimmy Choo, primary, first hand data was needed in order answer some research questions about the brand and its consumers.

The investigation was carried out in the Lace Market district of Nottingham, England and more precisely, outside of luxury and high-end stores. The sample size was 60 potential consumers between the ages of 18 and 50+. The data was analysed and summarised into a variety of charts and graphs.

Ages of consumers that would purchase luxury goods at a premium price

25%

10% 15%

34 - 41 15%

18 - 25

35%

42 - 49 26 - 33 50+ 15

Whether consumers would rather buy a pair of branded shoes or a pair of non - branded shoes

Non - branded Branded 35% 65%

73% of the sample shared ethical concern for luxury products.

40% would not purchase Jimmy Choo shoes with the fear of ‘damaging them’ or because the sizes are too narrow for their feet.

100% of the sample agreed that Jimmy Choo differentiates itself from competitors by

having a well-established brand identity, and luxurious high quality to its products and services.

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ANALYSIS MARKET HEALTH Since coming out of the global recession in 2010, the world economy is slowly but surely recovering; with spending continually increasing across the globe.

In the present day, interest rates on loans from banks are lower, meaning more people have access to loans often resulting in more money being invested into businesses, causing expansion. Ultimately the result in business growth allows higher income to employees, allowing more disposable income to be spent on luxury goods; for example, designer brand such as Jimmy Choo. This causes a positive income elasticity as more income from consumers creates a higher demand for products.

According to a 2016 Euromonitor report on consumer lifestyle in the UK, “between 2010 and 2015 disposable income per household increased by a less than robust rate of 0.8% while consumer expenditure increased by 5.2% to reach £42,257 per household in 2015”.

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As a result of this, luxury accessory brand like Jimmy Choo have higher profit rates.

Increased profit rates allow companies like these to put money into current retail consumer trends, an example being premiumisation. Premiumisation is a means to make ‘luxury’ products more affordable, or more premium. Nowadays, high street brands are wanting to make their products more desirable to consumers.

However, Luxury brands like Jimmy Choo are doing the most to premium-ize their already premium products, making them only exclusive for a smaller, more affluent part of the population, thus increasing sales of expensive products.

Drivers of premiumisation: Changing consumer values: Consumers are now wanting more luxurious products and are willing to pay the high prices.

Technology: A mass increase in technology over the past decade has revolutionised retail. Will impact consumer needs in the future.

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ANALYSIS MACRO MARKETING ENVIRONMENT - PESTLE ANALYSIS

P

E

POLITICAL

ECONOMIC

SOCIAL

As previously mention, Brexit may pose a threat for future trading of Jimmy Choo products between the UK and other nations, due to trading laws, taxation and trade tariffs.

This may affect sales and may cause them to decline; especially if there higher demand in certain nations (income elasticity) and Jimmy Choo cannot provide products and goods for comsumers.

Disposable income of Jimmy Choo consumers allows them to spend more on luxury brands like Jimmy Choo. However, if over the years, disposable income declines, Jimmy Choo could potentially see a decrease in sales.

With more and more young people having a presence on soical media, Jimmy Choo could use this to an advantage. By marketing products through social media and infulences, Jimmy Choo can appeal to a younger demographic and thus a meaning wider range of consumers.

With an increase in technology, consumers are more concious of the planet.

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S

T

L

E

TECHNOLOGICAL

LEGAL

ENVIRONMENTAL

In the future, Jimmy Choo will have to keep up with changing technology, potentially having to up their social media presence and potentially create an app for thier consumers needs and changing retail/consumer trends.

Due to Brexit, employment rates within the Jimmy Choo company may decrease.

With the increase of veganism across the globe, consumer needs are starting to shape trends. A lot of consumers are wanting crultey free products; no fur and no leather. A lot of brands are good at keeping on top of this consumer need; with Stella McCartney using non leather in her bag, and Gucci announcing that they will no longer be using fur in their products. This could be a good opportunity for Jimmy Choo as it could appeal to a larger pool of consumers.

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ANALYSIS COMPETITOR ANALYSIS

One of Jimmy Choo’s main competitors are a fellow luxury, high end footwear and accessory brand, Louboutin. Like Jimmy Choo, Louboutin are a well-known and iconic footwear brand, who specialise in classic heels. The brand is well known for their trademark red sole on all the shoes, which is a massive part of the brands identity and brand essence. This can be seen as a competitive advantage for Louboutin, as they have a world recognised trademark to their shoes, which is unlike any other luxury shoe brand in that sector. This may make the brand Louboutin more well recognised than Jimmy Choo, potentially leading to more sales globally and a higher revenue.

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Another way Louboutin make themselves a clear competitor of Jimmy Choo is by recently releasing a beauty line to complement their shoes and accessories. In 2014, Louboutin initially came out with a line of luxury nail polishes, swiftly followed by lipsticks and eye makeup like mascara and eyeliner. All products feature luxurious packaging and presentation, with an expensive price tag to match. Whilst consumers can buy regular, drugstore beauty brand, consumers will likely buy into the products due to the brand being Louboutin; consumers are just buying into the brand.

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CONCLUSION CONCLUSIONS In conclusion, Jimmy Choo is a high successful brand, with lots of potential opportunites which all could really improve the brand if done right. However, in order for the brand to keep up with consumer trends and modern day, the brand could venture out into the beauty sector; and new market with new products, in order to keep up with competitors like Louboutin.

BRAND RECOMMENDATIONS - Jimmy Choo could potentially expand into the beauty market, like it’s main competitor Louboutin to increase revenue and recognition in another retail sector; beauty.

- Releasing new products into a new market such as Asia and Japan could be a successful opportuntity to get more brand recognition and increase sales in the eastern parts of the world.

- Branching out and creating an app could really boost the brands sales, as having an app on the consumers phone and tablets means they can order instantly, whenever and wherever. Furthermore the brand could also increase their social media presence, by collaborating with social media influencers and You-tubers; targeting a younger demographic and increasing sales.

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OTHER ILLUSTRATIONS FIG 1. Drawing of Jimmy Choo Heel (2017) [online] Avaliable at: https://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=2ahUKEwiq8NmwyILZAhWOPFAKHc4RDskQjRx6BAgAEAY&url=http%3A%2F%2Fwww.instyle.com%2Ffashion%2Fshoes%2Fmost-popular-jimmy-choo-shoes-style-lance&psig= AOvVaw3cDAEqrkpXlmmMrG3BUtXM&ust=1517500594632920 [Accessed 23 Dec. 2017] FIG 2. Cara Delevingne 2018 campaign (2018) [online] Avaliable at: https://models.com/work/jimmy-choo-jimmy-choo-aw17-campaign.

[Accessed 12 Jan. 2018]

FIG 3. Cara Delevingne 2018 campaign (2018) [online] Avaliable at: https://models.com/work/jimmy-choo-jimmy-choo-aw17-campaign.

[Accessed 12 Jan. 2018]

FIG 4. JC crusie campaign 2016 (2016) [online] Avaliable at: https://www.google.co.uk/ url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwjxyaro7ILZAhUPJlAKHUNPBWUQjhx6BAgAEAQ&url=http%3A%2F%2Fposhbrazilian.com%2Fjimmy-choo-holiday-customizable-bejewelled-collection%2F&psig=AOvVaw0J9-JQ8UXPLmXWCC7IfC0n&ust=1517510372373629 [Acessed 29 Dec. 2017]

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FIG 6. JC winter cruise campaign 2016 (2016) [online] Avaliable at: http://megastyle.ph/jimmy-choo-cruise-16/ [Accessed 16 Jan. 2018]

FIG 7. JC cruise campaign 2016 (2016) [online] onhttps://www. thetimes.co.uk/article/jimmy-choo-sold-to-michael-kors-for-896m-2qxffbbbv [Accessed 23 Dec. 2017] FIG 9. Celine leather bag (2014) [online] https://www.google. co.uk/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwjKjZeA5ILZAhWCI1AKHaVtCnQQjhx6BAgAEAQ&url=https%3A%2F%2Fwww.pinterest.com%2Fpin%2F415 386765611711646%2F&psig=AOvVaw1KHMTUSHbScYySDQf0ILrQ&ust=1517508002632307 [Accessed 3 Jan. 2018]

FIG 10. Jimmy Choo’s in a box (2017) [online] https://www.google. co.uk/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwiv49-m5ILZAhXFhrQKHRFZBMAQjhx6BAgAEAQ&url=http%3A%2F%2Fwww.stephaniejayneblog. com%2F2017%2F01%2F17%2Fjimmy-choo-claudette-suede-platform-sandals-unboxing%2F&psig=AOvVaw0xceZlj1fw9AuXtAj9YPr4&ust=1517508089161056 [Accessed 12 Jan. 2018]

FIG 11. Sophisticated women with leather bag (2016) [online] https:// www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwj6yeGT5ILZAhXDhrQKHUY9BHcQjhx6BAgAEAQ&url=https%3A%2F%2Fwww.pinterest. com%2Fab_sirik%2Fstrictly-business%2F&psig=AOvVaw1FoXptL6D2QbTZxCZagDpL&ust=1517508046385883 [Accessed 14 Jan. 2018]

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OTHER ILLUSTRATIONS FIG 12. South Kensington House (2017) [online] Avaliable at: https:// www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwj1uL-t5YLZAhUCbFAKHbBpBQsQjhx6BAgAEAQ&url=http%3A%2F%2Fwww.rightmove. co.uk%2Fproperty-for-sale%2Fproperty-59237957.html&psig=AOvVaw18n6JRq-oc7pWS7wSipN96&ust=1517508372116759 [Accessed 9 Jan. 2018] FIG 13. Jimmy Choo wedding campaign (2015) [online] Avaliable at: https://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwiz1fXx5ILZAhUOZVAKHedSD1cQjhx6BAgAEAQ&url=https%3A%2F%2Fwww.bloglovin. com%2Fblogs%2Fquiero-una-boda-perfecta-3879168%2Fjimmy-choo-bridal-collection-2016-4735129896&psig=AOvVaw1DilwTWZT_xP1wcFVSmHE3&ust=1517508238258171 [Accessed 30 Dec 2017] FIG 14. Jimmy Choo 2016 cruise campaign (2016) [online] Avaliable: https://www.google.co.uk/ url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwjT-8vx5YLZAhWBY1AKHfjLDb0Qjhx6BAgAEAQ&url=http%3A%2F%2Fwww.wonderlandmagazine. com%2F2016%2F10%2F27%2Fjimmy-choo-cruise-capsule-jewel-collection-2017%2F&psig=AOvVaw17KdQRqk7ZQ9goP-Tp-sSF&ust=1517508508499594 [Accessed 16 Dec. 2017] FIG 15. Jimmy Choo 2017 winter campaign (2017) [online] Avaliable at: https://www.google.co.uk/ url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwjn_sKR5YLZAhWBKVAKHdY7D-MQjhx6BAgAEAQ&url=http%3A%2F%2Fpeople.com%2Fstyle%2Fcara-delevingne-jimmy-choo-ads%2Ffeed%2F&psig=AOvVaw1pAx9GBEdFabAFyBGlrQFX&ust=1517508308931167 [Accessed 7 Jan. 2018]

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FIG 15. Jimmy Choo revenue map (2017) [online] Avaliable at: http://www.annualreports.com/HostedData/AnnualReports/PDF/ LSE_CHOO_2016.pdf [Accessed 6 Jan. 2018] FIG 16. Louboutin campaign (2016) [online] Avaliable at: https://www. google.co.uk/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwiK0fvs4oLZAhVDalAKHXzQBvUQjhx6BAgAEAQ&url=https%3A%2F%2Fwww.pinterest.com%2Fpin%2F24 066179235056787%2F&psig=AOvVaw2phsPm-blen3OSKkzN2jGm&ust=1517507700614741 [Accessed 20 Dec. 2017] FIG 17. Louboutin camapaign (2016) [online] Avaliable at: https:// www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwi2_LOo4YLZAhXKhrQKHRjaD0IQjhx6BAgAEAQ&url=https%3A%2F%2Fscrewitimfierce. wordpress.com%2Ftag%2Fchristian-louboutin-follies-crystal-mes h-red-sole-pump%2F&psig=AOvVaw2L5Si1w0ydSgO_utHa4kGf&ust=1517507288231879 [Accessed 20 Dec. 2017] FIG 18. Louboutin lipstick campaign (2015) [online] Avaliable at: https://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwjYsPXN44LZAhUBPVAKHbToByEQjhx6BAgAEAQ&url=https%3A%2F%2Fwww.pinterest. com%2Fpin%2F390546598918905324%2F&psig=AOvVaw0VumKJpObTum067YMWYdHP&ust=1517507902476815 [Accessed 19 Dec. 2017] FIG 19. Jimmy Choo 2015 summer campaign (2015) [online] Avaliable at: https://www.google.co.uk/ url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwiWxdHg44LZAhWHYVAKHSRDA6gQjhx6BAgAEAQ&url=http%3A%2F%2Fblankdigital. com%2Fwork%2Fjimmy-choo%2F&psig=AOvVaw04rDhKRVdpxTDkFADIsfRC&ust=1517507942226212 [Accessed 13 Jan. 2018]

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OTHER REFERENCES

-Jimmy Choo PLC Annual Report and Financial Statements 2016. (2017). [online] Jimmy Choo PLC. Available at: http://www.jimmychooplc.com/media/22869/JimmyChoo2016AR. pdf [Accessed 23 Dec. 2017].

-Megatrend Analysis, Putting Consumers at the Heart of Business. (2017). Euromonitor International.

-The Business of Fashion. (2017). The Fashion App Transforming Social Mobile Commerce in China. [online] Available at: https://www.businessoffashion.com/articles/sponsored-feature/ the-fashion-app-transforming-social-mobile-commerce-in-china [Accessed 30 Dec. 2017].

- Premiumisation - Forbes. (2017) The most affluent retail trend of 2016. [online] Avaliable at: https://www.forbes.com/sites/millystilinovic/2016/06/16/premiumisation-the-most-affluent-retail-trend-of-2016/#1350e8944161 [Accessed 13 Nov. 2017] -Boston Archive - Article on premiumisation and other consumer trends. (2017) Premiumisation and other trends. [online] Avaliable at: http://archive.boston.com/jobs/news/articles/2008/02/24/premiumization_and_other_trends/ [accessed 13 Nov. 2017] - Euromontior consumer trends annual report- Euromonitor (2016) [online] http://www.euromonitor.com/consumer-lifestyles-in-the-united-kingdom/report [accessed 20 Dec. 2017]

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BIBLIOGRAPHY

-Jimmy Choo Foundation (2017) [online] Avaliable at: http://www.jimmychoo.com/en/customer-services/corporate-social-responsibility.html [Accessed on 16 Jan. 2018] - Business income elasticity article (2016) [online] Avaliable at: https://www.tutor2u.net/economics/reference/income-elasticity-of-demand [Accessed on 30 Dec. 2018] - Business of Fashion article on print ads (2017) [online] Avaliable at: https://www.businessoffashion.com/articles/opinion/op-ed-picture-worth-million-likes [Accessed on 30 Dec. 2018] - Fashionista article on 2017 Winter campaign (2017) {online] Avaliable at:https://fashionista.com/2017/12/jimmy-choo-cara-delevingne-ad-controversy [Accessed on 14 Jan. 2018]

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