Women's Business Case Study: Stance Socks

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As Stance has its sight set on creating outstanding products to make the brand shine and offering different kinds of socks for different customers, they still need to develop their product lines to target the whole sock market and attract more customers. “I feel there’s a lot of growth left for socks” says Kearl. Stance’s women’s business launched two years ago, and it grew 160% in the first quarter of this year, and now accounts for 20% of sales, which the company attributes to the diversity of its designs and women’s increased desire to reflect their style in their socks. If the brand provides the new products to women in the future, their women’s business will grow more than rapidly. Like silk stockings and panty-hose, it could be a big…show more content…
"We probably wouldn't have done it so soon, because I feel there's a lot of growth left for socks," says Kearl. "It's hard enough to manage the growth we have there. But one of our retailers actually called me and she said, 'Look, every week someone comes in and says, We're the Stance of underwear. At some point, I'm going to let someone else in if you don't.' Calvin Klein is still the dominant player.” If Stance gets into this market, it will be hard to compete with Calvin Klein. Calvin Klein underwear is high quality with comfortable materials and simple style with pure color such as black, white and grey. And customer loyalty is a very important factor. Most people believe in Calvin Klein and buy their products. But Stance can use its creativity and avant-garde designs to develop new variety of underwear with their technology to differ from the same products in Calvin Klein. And their target market can be the young generation who pursue the fashionable and trendy products instead of those who pay more attention on classic products. In addition, Stance can collect new ideas about underwear from their fans and followers on social media like Facebook, Twitter or Instagram to add into their new products to satisfy…show more content…
In this way, Stance brand can influence the golf market and become the official sock provider for golf players. For Motocross, Stance can cooperate with TransWorld Motocross which is the world’s largest motocross magazine to advertise their products. The magazine delivers an extremely high quality printed publication on a monthly basis. This beautiful package delivers the best photo and editorial coverage in the industry. They also have a website, TransWorld Motocross website, which is the epicenter for the Motocross world for reading about popular riders, companies, and motocross-events from across the globe. While Stance is investing in advertising, they will need to spend more on brand advertising with social media. Even though all action sports brands are in this realm, very few brands take Stance seriously enough to commit to any serious contract with Stance. Stance has a lot of opportunities to expend its sock

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