RESEARH COACH
Book 1
2
Index Part 1
Initial Selection of Business Organization
Part 4 Part 2
Scheduling & Cost Estimate
Part 5
Mission Statement & Tag Line
Part 3 History
3
Competitive Analysis
4
Part 1 When I first started the selection process of what brand I wanted to rebrand I knew that I at least wanted to rebrand a fashion company. Retail is currently a struggling industry with the rise of ecommerce and retail companies are having a hard time adapting to omni-channel platforms. But after that initial decision I had no idea of which brand to rebrand. I seemed to only remember the brands which I thought had good branding rather than bad branding. I started out with a list that included Gap, DKNY, Gucci, Puma, and Tommy Hilfiger and Ralph Lauren. These are all brands that I felt were either thriving or struggling in the current retail sector. And each was trying out new positioning strategies, designers and even collaborations with celebrities.
5 After looking at my list I decided to focus my selection between two companies, Gap and Gucci. Gap has been struggling for a while, they have not been able to keep up with the increasingly more popular fast fashion companies. Their structure has become stale and Gap has not been able to innovate across both the brick and mortar and online channels. Gucci on the otherhand has reached a high point in the luxury sector. It is one of the hottest brands in the industry and keeps growing thanks in part to its head designer Alessandro Michele. Alessandro had breathed new life into the brand through his quirky boho chic designs. Gucci’s logo to me does not relate to the new identiy of the company
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When I came into class with these two possible brands, I was shut down. Gap had tried to rebrand itself 7 years ago but failed miserably and changed back to its original logo in a matter of 6 days. The name and Logo of Gucci has been around since 1921. Gucci gains so much brand power from just its name so changing the logo would not be in the right interest to the company. After some brief discussion with Franklin, I mentioned how much I like the Coach brand. After showing him the logo and explaining how the company was currently repositioning itself in the marketplace, we both decided that this would be a great company to take a stab at rebranding. I was excited by this decision. I have always been a great admirer of Coach and I have been following its new positioning in the marketplace. I also knew that I would be visiting Coach’s current headquarters over spring break with another one of my classes and I thought that this would help me gain in person research which could help me develop the brands new identity.
Part 2 My next step was to develop a cost structure for my rebranding process and a well laid out timeline of how long each stage would take during the semester. To develop the cost structure I started by looking at Coach’s finacial records to see how much money was spent per year for their advertsing & marketing costs. I then started deducting from that mark direct marketing activities and other associated costs.
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Coach Branding Schedule Schedule Emma Thompson
WK1
WK2
WK3
WK4
TUE
THU
TUE
THU
TUE
THU
TUE
THU
J17
J19
J24
J26
J31
F2
F7
F9
WK5 TUE
THU
F14
F16
WK6 TUE
THU
Company Selection Estimating & Scheduling Research & Competitive Analysis Mission Statement & Tagline Logo Design Development Logo Design Refinement 1
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Logo Design Refinement 2 Logo Usage/ Standards Guide Brand Development & Applications Month/Day Presentation/Feedback Days
F21
F23
WK7 TUE
THU
WK8 TUE
THU
WK9 TUE
THU
WK10 TUE
THU
WK11 TUE
THU
WK12
WK13 THU
WK14
TUE
THU
TUE
TUE
M14 M16 M21 M23 M28 M30 A4
A6
A11 A13 A18
THU
WK15 TUE
THU
SPRING BREAK
9
F28
M2
M6
M9
A20 A25 A27
This is my finalized schedule of how long each aspect of my rebranding process would take. I decided to make the Logo Development stage as long as I possibly could because I knew that this would be taking up the most time.
Cost Estimation
Project Objective To create a new logo and brand identity for Coach, a luxury lifestyle brand. Coach currently is repositioning itself in the luxury marketplace and needs a new brand identity that aligns with their new positioning. This new brand identity needs to apply throughout all its products and applications and give off the vibe of Coach.
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Phases
Start Date
End Date
Hours
Cost ($)
Estimating & Scheduling
1/24
1/26
6
2,400
Research & Competitive Analysis
1/26
2/02
40
16,000
Mission Statement & Tagline
2/02
2/14
60
24,000
Logo Design Development
2/14
3/09
95
38,000
Logo Usage/ Standards Guide
3/09
3/28
30
12,000
Brand Development & Applications
3/28
4/27
80
32,000
Final Estimate $400 per hour
311
124,400
Part 3
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Before I started looking into Coach’s competitors I wanted to dive deep into the company that I was rebranding. Coach as a company has a long rich history. It started in 1941 and was America’s first leather company. Coach started out as just a leather handbag company but over the years has grown to create a wide variety of products including recently creating a ready to wear collection. All retail companies have had high points and low points in their history and Coach is not exempt from this fact. In the early 2000’s Coach was having a boom, their bags were everywhere and people loved the playful designs that they offered. But by 2010 the marketplace was flooded with so many of these types of bags from Coach and its competitors. Coach became a stale company; They had no innovative designs and they sold many of their products via outlet stores which decreased their price credibility. Coach needed to do something different and change how they appeared in the marketplace. This was acheived by hiring Victor Luis and Stuart Vevers as CEO and Creative Director respectively. Victor was able to work on closing down outlet stores and drawing consumers to Coach’s main stores. Stuart was able to draw consumers in by designing classic leather bags with a twist and creating a ready to wear collection that could be seen on the runway and on celebrities. This product placement made customers excited and drew them back into the brand. As Coach continues to change in the marketplace I think that creating a new brand identity would help the brand grow even more.
History Coach hired Bonnie Cashin (a pioneer in American sportswear) Cashin brought the brass toggle hardware to Coach. She added the silver toggle that became a Coach hallmark- inspired by the memory of quickly fastening the top on her convertible sports car Miles and Lillian Cahn join were already owners of a leather handbag company. They joined Coach.
In the 80s started to create watches,
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1946
1961 1950
1941
1980s 1979
Cahns take over business. They noticed the design of the baseball glove and it inspired them to create a handbag with similar attributes Coach was initially founded under the name Manhattan Leather Bags, started as a family run workshop with six leatherworkers who made wallets and billfolds by hand
Company hired Reed Krakoff- transformed the image of Coach from a sturdy basic collection to a more colorful hip with new styles and colors eve season, Krakoff added new products like wallets, wristlets and phone cases
1996 1992
Started doing outerwear, trying to broaden their assortment of products
Lew Frankfort became the CEO, he helped bring Coach to become a world-renowned brand. Frankfort was credited with the emergence of the affordable luxury category. Coach took over but starting in the 2000’s competition started increasing
d d
e w ery e d cell
Coach growth started slowing there brand became bland and they distributed their products to outlets too much.There brand became a brand for the masses not a maker of quality. The Affordable luxury competition became overwhelming, Michael Kors and Kate Spade stole some market share from Coach
Stuart Vevers hired as new creative director, worked to restore Coaches upscale aura. Coach now playing up its NYC heritage to stand away from the competition, moving away from wholesale and outlet distribution 75th Aniversary, now want “To Become the company that defines global modern luxury�
2001
2014 2013
2016 2015
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2010-2013
2017
Coach named Victor Luis as new CEO Coach debuted the Signiture Collection showing the double C design.
Coach - bought Shoemaker Stuart Weitzman to increase their portfolio - launched Coach 1941- a new, higher priced line centered on ready to wear. Now becoming a full lifestyle brand no longer just focused on handbags. workign on being sold in speciality store retailers
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15
Above are some images of the new Coach.
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Part 4 Now that I gained history and insight into Coach as a company I needed to see how it compared to its competitors in a number of key factors. I believed that Coach’s closests competitors were Michael Kors, Tory Burch, Kate Spade, and Dooney & Bourke. I looked at each of their mission statements and brand identities in order to get a feel for what the companies identities were. These companies all exist in the accessible luxury sector which is the largest sector in the luxury pyramid. I created a series of charts where I could compare Coach against its competitors. Through my initial research I discovered four unique aspects of Coach’s business which would be good to compare competitors against: creativity of designs, engagement of customer base, quality of service and target market. Each of these aspects had a chart where opposing adjectives were placed in order to determine where Coach was compared to its competitors.
Michael Kors Mission Statement: Michael Kors is the leading American fashion designer for luxury accessories and sportswear. The company’s heritage is rooted in producing polished, sleek, sophisticated American sportswear with a jet-set attitude. Whether Aspen, Palm Beach or Capri, our mission is to bring our vision of a jet-set, luxury lifestyle to women and men around the globe. Our products, emblematic of the highest standard of quality, include apparel, accessories and beauty. Our lifestyle-driven company embraces the highest standards of creativity, quality, technology and human resources.
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Tory Burch Mission Statement:
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Tory Burch is an american lifestyle brand that embodies the personal style and sensibility of its chairman, CEO, and designer, Tory Burch. Launched in February 2004, the collection includes ready-to-wear, shoes, handbags, accessories, watches, home and beauty.
Dooney & Bourke Mission Statement: Dooney & Bourke designs and crafts instant classics with the perfect union of timeless American style, the highest regard for materials and craftsmanship, and a dedication to effortless functionality.
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Kate Spade Mission Statement:
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She is quick, curious, playful and strong. kate spade new york inspires women to live colorfully, delivering on our promise to help her lead a more interesting life. Our once handbag company has expanded its offering into clothing, jewelry, watches, shoes, stationery, eyewear, fragrance, tabletop, and gifts. In every time zone and on every continent, kate spade new york is a global lifestyle brand offering aspirational luxury with a clever wit and playful charm that is distinctly our own.
Competitive Analysis Charts Coach (Client)
Kate Spade
Dooney & Bourke
Michael Kors
Tory Burch
Creativity of Designs Refined
Classic
Modern
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Sturdy
Engagement with Customer Base
Engaged
Disengaged
Online
Brick & Mortar
Competitive Analysis Charts Quality of Service Expensive
Target Market Progressive
Extroverted
Introverted
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Basic
Responsive
Economical
Serious
Competitive Analysis Charts
Competitive Landscape Engaging
Few Product Options
This main competitive chart shows 4 particular discoveries specific to the retail industry; These include whether or not the brand is engaging or sterile and whether or not the brand has many of few product options. As shown above Coach places itself above its competitors by having many different product options and being a very engaging brand.
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Many Product Options
Sterile
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Part 5 Once I determined where Coach was positioned in the marketplace compared to its competitors I needed to clearly distinguish Coach. The best way to do this is to have a mission statement that clearly describes the brand and a tagline that catches customers attention. I needed to show off Coaches classic history but also show that Coach has fashion credibility. I started this process by thinking of key words that would apply to the brand and emphasize its key features. Coach and its competitors currently do not have taglines. This makes sense due to the fact that most luxury brands don’t have one because they rely on just the brand name. This made creating a tagline very difficult. I needed to bridge the fact that Coach has such a historic past with the fact that is has hip and fashionably credible designs.
Current Mission Statement
Now greatly expanded, Coach continues to maintain the highest standards for materials and workmanship. Coach’s exceptional work force remains committed to carefully upholding the principles of quality and integrity that define the company. We attribute the prominence of the Coach brand to the unique combination of our original American attitude and design, our heritage of fine leather goods and custom fabrics, our superior product quality and durability and our commitment to customer service.
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Coach was founded in 1941 as a family-run workshop. In a Manhattan loft, six artisans handcrafted a collection of leather goods using skills handed down from generation to generation. Discerning consumers soon began to seek out the quality and unique nature of Coach craftsmanship.
Development Mission Statement key phrases - “rich heritage of pairing exceptional leathers and materials with innovative designs” - loyal customer base - new americana focus - the ability to customize
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- thinks they are americas pre-iminent designer and producer of womens handbags and accessories in the US - american attitude and design with heritage of fine leather goods, superior product quality and durability and commitment to customer service “exceptional leathers, innovative designs, Americana, distinictive brand, “ - Americas leather company - Cool is the soul of american individuality - innovation, quality, authenticity, craft values, aesthetic experience, innovative corporate culture - shows a cool girl in motion - bohemian cool - once cool always cool -75 years of craftmanship - genuine glove tanned leather -finely crafted goods - modern consumer depends on quality
Development TagLine key phrases Classic. Stylish. COOL Define Yourself Be Defined You’re.......a Star class, trendy hip, edgy, casual? for the stage, catch, batter
- stylish, chic, fashionable, up-to-the-minute, happening , trendy , sensational , sophisticated, neat, - for the woman on the go - from stylish nonchalance to charismatic wildness - the birth of cool
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- moving towards hip customer base, modern customer, attitude deal
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Final Mission Statement
Coach, one of America’s original lifestyle companies embodies an American attitude with their rich heritage of finely crafted goods. The soul of American individuality, by embracing its rich history of pairing exceptional materials with innovative designs. Coach is a distinctive lifestyle brand for the modern it girl.
Final TagLine
CLASSIC STYLISH CURRENT
29 I chose Classic. Stylish. Current as my tagline because it was able to bridge the gap between the classic history of Coach and its current fasionable designs. I wanted the tagline to get straight to the point and for it to show exactly what Coach has to offer its customers. The company has a classic heritage, but at the same time provides stylish designs for the current hip customer. No matter what era or age the customer is in Coach wants to have appealing designs for them.
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Next steps
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Now that I have an idea of where Coach should position itself. I needed to dive headfirst into the logo development process. I knew that I needed to show some aspect of the Coach wheel but at the same time have some sort of a modern mark. I also knew that most luxury companies had just their name in a specific typeface as their logo so I needed to find a way to get past this initial idea and create a logo that was not just type but was insteda a fully thought of mark.