Innovative ways to sell luxury & fashion brands during the economic crisis
There are basically 2 ways of approaching the current economic downturn for a Luxury brand:
The Bad way is to compare the current situation vs the development of the category for the past 8 years. The feeling is close to be in front of big cliff with no arm and no leg to climb…Uncomfortable! 
As everything is relative, 2009 may be a bad year if compared to 2007, but still outstanding whether 2005 would be the reference.
The Good way is most probably to take a Blue Ocean Strategy approach and consider this situation as a great opportunity to innovate. As the market is shrinking, it is critical to find new (or different) sources of growth.
The marketing of Luxury goods is driven mainly by a Pull strategy based on recipes which are considered as “Must Be” but without necessarily a pragmatic performance monitoring. The Ultra-luxury brands will keep their clientele but many others do not have anymore references in a situation where attitudes and behaviors of clients are changing. Innovating in selling high-end goods means challenging the status-quo in some areas such as: making the brand more accessible and enhancing the experience at retail.
Once the quality of products, integrity of brand DNA and rationalization of the portfolio are secured. It remains…the Client. The most important is to keep the contact with the consumer as the desire to own a Jaeger-Lecoultre watch or a Bulgari accessory has not disappeared!
What could be new ways of interacting with consumers with a positive and friendly attitude?
Targeted and smart Limited Editions
Beyond the marketing trick to issue 888 units of a specific accessory to appeal Chinese consumers, there are ways of using limited editions as a strategic pillar of a brand. The core proposition of a brand A brand could decide to reverse the paradigm and to use restricted offers as the standard for its portfolio. The brand 20 Limited (designers from different categories commercializing a defined quantity of a product) is a good illustration.
Staying in touch with consumers
The fashion designer Marc Jacobs has launched in Paris in October 2008 his boutique Marc by Marc where limited editions of various accessories can be found in an exclusive environment at very accessible price (starting at 1.- Euro). It can be a clever way to generate proximity if the originality of the offer is still consistent with the brand DNA and the affordable price is not the unique benefit perceived by consumers. It helps to generate traffic in the retail stores and positive buzz for the brand.
Second hand products
A brand could initiate the commercialization of its second hand products in order to facilitate the access to its world and generate additional sources of revenues: It represents a risk in terms of brand image dilution but it is a business already well established for many brands which are not benefiting from it…whilst being a criteria of success for the category. As an example, the Swedish fashion brand Filippa K has opened a second hand shop in Stockholm in summer 2008.
Renting is not a shame…anymore
It is becoming trendy to rent as it gives the opportunity to transform the absence of ownership into a positive feeling to renew stuff regularly. It is not perceived anymore as a lack of purchasing power.
Fashion victims addicted to hanbags from Prada, Gucci & Co can now make their life a heaven by renting these precious and prestigious items with Sac de Luxe (French company).
Afficionados of Ferrari and Aston Martin have as well their passion fulfilled with Ecurie 25 which is based on a similar principle.
A new retail experience
It plays a major role in the perception of the brand and the decision making process to acquire a luxury product. However, the current depressing economic climate is not encouraging consumers to push doors of Place Vendôme’s boutiques. Thus, it is even more critical to transform the contact with the consumer into a unique moment (on and off line).
The service level needs to exceed by far expectations through oustanding “Moments of Thruth” and/or the role given to the experience is to be encompassed into the overall brand proposition.
A fashion retail store in Los Angeles, Fashionlogy LA (already mentioned in a recent post), is transforming the purchase at the boutique into a master piece of the product itself.
The Watch Avenue website provides the potential client of some luxury watchmaking brands with the unique opportunity to experience brands and products on-line.
In a different environment, a wine retailer in Denmark, Gerbola Vin, is using Story Telling in an unconventional location as part of its core offer. This approach could support naturally luxury brands having a rich heritage.
Pop-up stores are a good platform to create a unique retail experience while being able to support other initiatives mentionned above. Vogue Magazine opened a Teen Vogue Holliday Haute Spot at the end of 2008 in a mall in the US. It illustrates unconventional routes of using temporary presence in order to built proximity with a specific target and generate buzz.
If the client is not coming naturally to the brand, it is up to the brand to find sensitive strings to pull in order to feed the desire while staying accessible. It is difficult today to pre-empt what would be the sucessfull recipe for tomorrow. However, one critical factor will be the capability of brands to keep the consumer in the centre of the radar screen while innovating in interacting with him or her.
I am responsible for the marketing blog www.customercentric.org which is the basis for consultancy activities.
My core competencies: e-business, management of nmarketing channels and brand building.
I have held different positions in the area of strategic & operational marketing, sales and general management.
Superga Men’s SU303 Bologna Sneaker,Ltbrown,42 EU
- Refer to sizing chart for correct US conversions
- US conversions on shoes are not correct
Superga Men’s SU303 Bologna Sneaker,Ltbrown,42 EU
When I Couldn’t Find Tall Trousers To Fit Me, I Set Up My Own Fashion Business
There’s been one question that’s lived with me for years. Why aren’t there more trousers for tall, slim men available? Finding trousers I’ve both liked and actually fit me has been a struggle since my teens.
The answer, of course is that tall men are a small market – and tall and thin is even smaller than the well-known association between ‘big’ and ‘tall’. Mainstream high street retailers just aren’t interested in us. Their overheads are high, and they believe there just isn’t enough volume in the market for them.
Where you do find clothes that fit in retail outlets, how many times have you been faced with substantially higher prices than equivalent garments for more averagely proportioned shoppers?
Things are even tougher in the UK and Europe than the US because some global fashion brands manufacture trousers for tall thin men, but don’t make them available on this side of the Atlantic.
A while back, I saw all these difficulties as an opportunity.
Setting up shop online
As the Internet has evolved and more and more people are happy to shop for clothing online, I no longer had to take on the same problems faced by the volume retailers. The higher costs associated with developing and manufacturing ranges for a relatively small marketplace can be offset against the lower costs of operating online.
Setting up my new brand, Alto Clothing, online is the only way I can offer my clothes to people. I’m selling direct, so the extra costs involved in short production runs can be offset against the savings made by eliminating the high street shop. The lower costs associated with the Internet make my business viable.
The opportunity offered by the Internet for Alto Clothing is the same as for many specialist businesses, in all kinds of markets – it lowers costs and increases the potential market size.
Sourcing tall man’s clothing
I have a great looking Web site designed by a central London agency, supported by some very effective Search Engine Optimization. By and large, I’m getting to grips with the online part of my business. But, even though Alto Clothing sells 100% online, the challenges are offline.
Finding suppliers equipped to make the sizes I need, and who have a long-term vision strong enough to set up production runs small enough for a start-up in a niche market, has been, shall we say, interesting.
“200? Don’t you mean 20,000?” became a depressing familiar response as I contacted prospective suppliers. I’ve had to balance the choice between using more expensive European-based suppliers, who are happier to provide smaller quantities with lower-priced far-eastern suppliers who demand larger orders.
And then there are my ethical principles to factor in. I’ve been checking, as much as is possible, that Alto is not choosing suppliers who employ child labour, use questionable Health & Safety standards and other dubious practices.
Luckily, I’ve been able to use my experience both as a consumer and in a previous men’s fashion business to find suppliers who can provide the specialised sizes my customers need.
Lessons for start-ups
Securing the kind of edgy or younger clothes for the vision I have for the Alto Clothing brand continues to be the biggest challenge as Alto grows in its critical first couple of years.
My advice for start-ups, now I’ve been through more than one? Look at all aspects of your business. Try to foresee as many pitfalls as you can, but accept that you can never anticipate them all. The real challenges are quite often in the most surprising places. You just have to tackle them with persistence and enthusiasm; there’s almost certainly a solution there somewhere!
Author: Justin Edison
Article Source: EzineArticles.com
Import duty tariff
What Will Be Fashionable In 2010
2010 is rapidly approaching! Those of us who are fashion conscious need to know the upcoming jewellery (jewelry :US EN) trends for the new year. I have carefully sourced styles from the catwalks, the celebrities and the fashion gurus.
Like much of the last half of 2009, bigger is better when it comes to jewellery. Dramatic necklaces, BIG cocktail rings- it’s all about making an impression. A little tip is DON’T wear more than one statement piece at a time. A large, multi-strand necklace can not couple with drop earrings (of any kind in my opinion) or a large ring. The key is to overdo it on one feature, under-do the rest. Emphasise your statement piece to stand out from the crowd.
Sterling silver jewellery is still the market leader. The fashionable shapes and designs being released now are predominately silver. Silver’s fresh, bold, durable and beautiful, and it can be teamed with any precious rock or jewel.
Colours will be bold, bright and contrasting. Yellow gems, like the citrine, will be big. Turquoise will continue to be in style. Huge coloured gems are what it’s all about.
Geometric shapes like ovals, circles, squares and rectangles will continue to be in style into 2010. Crosses are also making a comeback. Cuffs are in full force and are a must have, especially if they’re over the top and chunky. Exotic and tribal inspired jewellery will also make an impression.
Organic materials which are in are onyx, marcasite, bone and corals. Natural coral is stunning shaped into beads and pendants. You’ll be seeing people wearing coral and sterling silver bracelets, large rings with coral shaped as the stone, and funky abstract pendants made from this glorious material. Onyx and other stone like marcasite will be in the form of dazzling drop earrings, oversized bead necklaces and bracelets and a bold addition to a cocktail ring.
Chandelier earrings continue to reign supreme. Fringe styles are also coming in fashion. These can be a statement accessory also, so don’t be too shy to wear earrings a little big.
The verdict is in. Big and chunky are still the kings of fashion. This is no time to be shy, ladies! We sell fashionable jewellery at our online fine jewellery store, www.divine-jewellery.com . Please take a look for inspiration, and you never know- you might find the piece you love.
Article Source:http://www.articlesbase.com/fashion-articles/what-will-be-fashionable-in-2010-1444062.html
Ethical Fashion: What, Why and Why Now?
What is ethical fashion, why is it important, and why are we just hearing about it now? Well, to answer these questions we start with what is wrong with clothing production today. Most clothing available in stores today is produced in an unethical manner using sweatshop and/or child labour to ensure a larger profit margin. Manufacturers use unsustainable fabrics like non-organic cotton (dubbed as natural, it accounts for almost 25% of all pesticide use) and polyester (which is a petroleum by-product). They use conventional dying practices which release chlorine, chromium, and other pollutants into the environment posing a health risk to the farmers, assemblers and wearers (7 of the top 15 pesticides used on conventional US cotton crops are “possible” to “known” human carcinogens). The shift to ethical production practices in the clothing industry has been undeniably important for a long time making the market ripe for a positive change. Consumers are starting to demand better.
What is Ethical Fashion?
Ethical fashion is that which is produced using: fairly-paid and fairly-treated adult workers; sustainable fabrics and materials like organic cotton, hemp, bamboo, and reclaimed or recycled materials; low-impact fiber-reactive dyes or vegetable dyes; respect for a healthy environment and/or product for the farmer, the assembler, and the wearer of the clothing.
Why Ethical Fashion?
We are all responsible for how our own lifestyles affect the environment. Simple measures can be taken to achieve big changes by simply switching our buying patterns to include products made of low impact materials. Positive pressure on businesses who have yet to volutarily clean up their acts is very easily applied by simply choosing not to spend money on their products, and helping – little by little – to grow the businesses who have made an explicit commitment to responsible business practice.
Why Now?
The wonderful thing about the booming ethical fashion industry is the huge variety of designs, colours, cuts, fabrics and sizes now available. Long stigmatized as cousin to the burlap sack, the ethical offerings today are design-oriented. Designers with heart are creating beautiful, sexy, edgy, classic, current, imaginative, and, yes, flattering pieces – ethics will simply not be compromised and thankfully neither will the look and feel of their work. Reducing our footprint can be done without making any sacrifices.
One of the main driving forces of the ethical fashion boom is public awareness. Thanks to exposés on large manufacturers, the fact that sweatshop labour is used for the overwhelming majority of production can no longer be ignored. The power of boycotting has been demonstrated, as has the power of voting with our dollars to support good practice. Thanks to accessible work like “An Inconvenient Truth”, the lay person is no longer free to assuage their environmental guilt with the denial of the existence of climate change. Thanks to alternative medical practitioners, who deal with cause instead of just symptom, we’re learning that we can build health by surrounding ourselves with and consuming healthy things.
Consumers are growing weary of the quantity without quality mentality. Most designers with an ethical bent to their art, work in small batches, producing high quality goods with exceptional fabrics. Consumers are, in growing numbers, appreciating the right to vote with their dollars; and are exercising it to support expansion of the sustainable textile industry, small farmers and farm co-operatives. We’re all looking for ways to reduce our environmental impact, increase our social contribution, ease our consciences, hold on to some creature comforts, and continue celebrating art in all its forms.
http://www.fashion.moneybizhome.com/
Oli works full time as a Market Analyst.He graduated in Management.He can help you to grow your computer consulting. Article Source:http://www.articlesbase.com/fashion-articles/ethical-fashion-what-why-and-why-now-1388056.html
http://www.moneybizhome.com/computers
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