Personal accessories market majorly comprises of jewellery (fine jewellery and fashion jewellery), bags (handbags, luggage, backpacks, cross body bags, wallets, purses and pouches, business bags, duffle bags, business bags and small bags), watches, and writing and marking instruments market. The most happening market on the global front is the personal accessories market. The largest jewellery markets in the world are India, US, and China. Bags market is expecting a positive growth with new designs. The innovation and technological advancements in the watch market is expected to grow steadily.
Introduction Louis Vuitton (LOUIS VUITTON) is a French fashion house created in Franch in 1854. LOUIS VUITTON mostly famous for its craftwork leather bags and trunks. LOUIS VUITTON Also called as Louis Vuitton Moet Hennessy (LOUIS VUITTONMH) after merger with leading manufacturers of champagne and brandy Moet et Chandon and Hennessy in 1987. Louis Vuitton is one of the world most valuable luxury brands for a seventh consecutive year, which worth billions of dollars. Quality craftsmanship, heritage, and history are key factors of success for the luxury brand.
The company only hires 200 artisans a year which this whole process slow down the production line which is not an issue for the company since it wants to maintain the brand philosophy of creating exclusivity and scarcity. ▪ Hermès is a fan of pursuing the “limited edition” strategy and limiting distribution of its products in the stores ▪ The introduction of “patience” as a very strong principle and element in its brand strategy. Clients cannot expect to walk into a store and walk out with a Birkin bag. They have to place an order and wait for months to get it. ▪ Hermès collaboration with ultra-luxury brands, such as John Lobb shoes, Puiforcat tableware & dinnerware and Saint Louis glassware, is consistent.
What’s more, fast fashion retailers’ collaboration with luxury designers, for example H&M’s collaboration with Karl Lagerfeld, Roberto Cavalli, Stella McCartney, and Alexander Wang, can not only increase revenue and margins but also make high-fashion more accessible to the new markets of younger demographic. This kind of collaboration can
Ferrari is a global brand, which is known for the production of luxurious and powerful supercars. They have achieved prominence and favorable performance all over the world and managed to keep up with the current competition. In the Middle East, especially in the UAE, Ferrari is enjoying a sustainable and favorable business performance, as shown by an increase in sales compared to its performance in the previous years (FIAT, 2012). In line with this, because of the attractiveness of the UAE as a market for Ferrari, this marketing plan provides a general review of the company, including its market position and environment of operations; it is recommended that Ferrari Four will be introduced in UAE. The Ferrari Four will be positioned as the
Zara is currently facing rigid competition from local as well as international retailers in Qatar. Qataris are the biggest buyers of luxury goods in the Middle East region, closely followed by consumers in Bahrain, according to the American Express Middle East Luxury Spending Tracker. Consumers in Qatar spend up to QR18,200 ($5,000) a month on various luxury items but fashion topped the list of preferred purchases in 2012, with 37% of respondents saying they enjoy shopping for fashion-related items. Due to this attraction market of Qatar is becoming more competitive with passage of
Most of manufacturing is produced in Spain or in proximity markets. Marketing and Sales: Zara’s marketing strategy relies on word-of-mouth communication and the low price appeal it makes to the customers. A Goldman Sachs analyst has described Zara as “Armani at moderate prices”. The most important channel to communicate the brand image is its stores windows displays which are changed twice a week, creating a sense of scarcity for brands clothing. So, executives invest in company-owned stores located in highly trafficked, high-end retail locations.
Not only that, this company also used SPA model to generate the the most premium quality clothing at the affordable price for the customers. The company is unique in their contribution of customer services and prides itself on ingratiating with the customers. Another popular branded clothes retailer in Malaysia is ZARA which is origin from Spain. ZARA’s speciality which has made its strategy around consumer trends, acceptance the fast-changing tastes of its customers. Zara has developed a highly responsive supply chain that enables delivery of new fashions as soon as a trend emerges.
The collaboration with world class designer made the customer feel they are purchasing high fashion shirt that they normally cannot afford. Not only that, there are approximately 200 in-house designers under H&M design team, this allowed H&M to minimize the time-to –market. H&M also believed Strong brand name is one of the
It is vital to weigh the business possible as well as the attitude of the Indian luxury consumer in order to be prosperous in India. Luxury in India has conventionally been associated alongside the regal empire of Maharajas. The lavish lifestyles of these nobles were select to associates of the privileged class, who had received not merely wealth, but an inclination to buy the finest produce that were available. This was the past. The boundaries of luxury consumption have now expanded to include the masses, that is, the hopeful middle class encompassing youthful professionals, entrepreneurs and well-travelled corporates.