Final selection & Argument

GAP: The accessible luxury market

OPPORTUNITY: Defining the accessible luxury market and repositioning of the brand

LOLA CRUZ

Brief introduction Type of brand: Shoes Target: 25-38 Price range: Min: 175€ Max: 335€

STRENGTHS High quality products Competitive price points Strong customer loyalty Comfortable designs

WEAKNESSES Inconsistent brand storytelling & brand language No coherencey in social media campaigns No distinctive brand recognition design Sub line is positioned at a lower price

OPPORTUNITIES Brand awareness growth Investment in brand faces Asian market expansion Brand extension

THREATS Price & market positioning Availability of raw materials Competitors: ASH AEYDE Bimba & Lola

Lola Cruz problem: The brand has little to no narrative, no brand recognition and the current distribution channels are complicated due to higher price points than their sub brand, BibiLou.

SELF - PORTRAIT

Brief introduction Type of brand: Clothing brand Target: 20 - 40 Price range: Min price 65 euro Max price 700

STRENGTHS Strong tribe following Established stores in Asia Strong brand recognition Educational platform connections Vast distribution amongst the world Competitive pricing

WEAKNESSES Inconsistency of materials & quality Young brand and minimal capital Minimal physical stores Lack of engagement & consistency on social media platforms Limited product variety

OPPORTUNITIES Cohesive social media platforms Eco-conscious materials Experiential spaces Physical store expansion

THREATS Multi brand stockists Strong growing competitors Competitors: Maje Sandro Zimmerman

Self-portrait problem: The brand gained initial popularity within its first lifecycle and is currently unable to deliver the same level of success and garments to its consumers.

KENZO

Brief introduction Type of brand: clothing and accessories Target: 18-35 Price range: Min price 55 Max price 895 euros

STRENGTHS Long legacy and well respected in the fashion industry during Kenzo Takada’s era LVMH Funding Appointment of strong cult following leader, Nigo Strong archive department focusing on multiple sub lines such as Kenzo Denim

WEAKNESSES Stuck in streetwear lifecycle Repetition of designs Brand positioning has become diluted OPPORTUNITIES Increased investments into retail Building a kenzo experience (physitisation aspect) Omni-channel marketing

THREATS Alienation of existing audience Strong existing competition Industry 4.0 changes

Competitors: Kolor Wales Bonner

Whilst physical interaction is important in many contexts, it is especially so in Chinese culture. Many consumer decisions are influenced by mianzi. While face-based consumption is similar to status-seeking behaviours, in the Chinese context, the face reflects how an individual feels about one’s social standing in relation to others (Luo, 1997).

Materialistic tendencies in consumers who attach “social meanings” to goods, have been linked to face consciousness (Luo, 1997). Thus, materialists believe that purchasing, owning, and displaying certain types of goods will influence how others perceive them.

Majority of Chinese consumers yearn for global cosmopolitanism and desire status items for the sake of appearance (Luo, 1997). Since the economy’s gradual opening in 1978, Chinese consumers have placed greater emphasis on self-presentation than ever before. Branded products can help people express their individuality. Purchasing “entry-level luxuries” in the form of affordable luxuries, could thus be interpreted as a way for face-seeking consumers to “buy” a face for themselves (Luo, 1997).

Both “guanxi” and “mianzi” have a strong and positive influence on consumers’ intentions and motivations to purchase luxury products, and it is critical to determine whether these two concepts emerge when consumers consider purchasing affordable luxury.

02

BRAND ANALYSIS

Kenzo was created in 1970 by Kenzo Takada. Currently, Kenzo has been infusing positive energy and contagious freedom for half a century by boldly proclaiming a polychrome, daring and borderless fashion that celebrates nature and cultural diversity (Kenzo, 2022).

The brand is situated under the group of LVMH. The current CEO of Kenzo is Sylvain Blanc and the headquarters are situated in Paris, France (Kenzo, 2022).