24th July to 30th July - Weekly Blog: Research Luxury Market (Competitors)
Dear all,
This week I was focusing on the LV competitors, first I research online what are the main competitors, found a very interesting chart in Mintel, what showed the most valuable brand in the world, and that was for me a reason to work lengthwise the chart.
Please finde below the SWOT from my main competitors:
The Prada Group dates back to 1931 when it opened its first store in Milan. However the Prada heritage began in 1919 when it secured a position as the supplier to Italy’s Royalty. Since then, the Prada Group has evolved through strategic planning which included, launching new brands, partnerships, acquisitions, and licensing agreements. Today the Prada Group operates in 70 countries through 551 retail stores.
This week I was focusing on the LV competitors, first I research online what are the main competitors, found a very interesting chart in Mintel, what showed the most valuable brand in the world, and that was for me a reason to work lengthwise the chart.
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The 10 Most
Valuable Luxury Brands 2016
(https://www.ft.com/reports/global-brands)
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||
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Value 2016 $
Million
|
% change 2016 vs.
2015
|
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Louis Vuitton
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28,5
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4%
|
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Hermes
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19.8
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5%
|
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Gucci
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12.5
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-9%
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Chanel
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10.3
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15%
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Prada
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4.4
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-33
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Please finde below the SWOT from my main competitors:
As quoted by Aldo Gucci, “Quality is remembered long
after price is forgotten”, it shows Gucci’s emphasis on quality of its products
and how it tried to convince customers a handbag isn’t just an accessory but an
investment.
Furthermore,
Gucci has over 370 directly operated stores (DOS) as a strategy to control its
distribution processes as well as to ensure the consistency of value of the
brand. All Gucci’s products are made in Italy and this iconic Made in Italy
style has become a symbol of elegance.
The Prada Group dates back to 1931 when it opened its first store in Milan. However the Prada heritage began in 1919 when it secured a position as the supplier to Italy’s Royalty. Since then, the Prada Group has evolved through strategic planning which included, launching new brands, partnerships, acquisitions, and licensing agreements. Today the Prada Group operates in 70 countries through 551 retail stores.
Hermès International SA is a fashion brand renowned for
its upscale luggage, apparel, and accessories. Steeped with more than 170 years
of history, the company operates 315 stores worldwide and is still majority
owned by descendants of its founder, Thierry Hermès. The company’s emphasis on
family ownership and super craftsmanship and uncompromising quality is the hallmark
of all Hermès products.
