Competitors

Competitors 6.

‘Know as much about your competitors as your customer. Customers do not look at your product range in isolation, neither should the buyer’ (Elliot and Rider, 2000:28).

Key competitors operating within Vetements market level are Balenciaga (for whom Demna is also the creative director), Yeezy and Off White. Gowerek and McGolderick (20015: 98) suggest using a perceptual brand positioning map to assess the market in which an organisation operates to decipher how brands are perceived in comparison to competitors. As we can see Vetements is operating on the luxury and exclusive scale, but may well need to further differentiate itself from Yeezy and Off-White or risk losing market share. Equally, despite Supreme operating within the mid-market level, the brand should be considered a competitor within the streetwear sector. With a successful supply controlled strategy cultivated by the hype which surrounds its weekly drops (Moran, 2017), as well as a cheaper point (figure 4, appendices) there is certainly a risk of being undercut.

Figure 3. Brand Positioning Map (Gowerek and McGolderick, 2015:97).

(Vetements, 2016)