Diesel- An inspiration in the UK fashion market
Diesel has been one of the most dominant brands in the UK (United Kingdom market). It has scripter a success story that very few would be able to emulate. Diesel started its UK operations almost in conjunction with its international launch. The first store of Diesel was opened at Covent Garden on Earlham Street. It has clocked revenues of 729 million dollars in the last financial year. There has been an increase of 18.27 percent in the revenues when compared to the last fiscal. This may be attribute to the fact there is a burgeoning population of youth who do not conform to the oft repeated norms of fashion and want to get associated with a brand like Diesel.
Diesel operated around thirty seven directly controlled stores in the UK (United Kingdom). Whereas the number of retailers that stock its product run into a figure close to two thousand two hundred. In concordance with its international plans, Diesel is cutting down on the retailers and concentrating on opening more direct stores. Diesel has cashed in on the current fashion market which has transformed from greasy rockability to conscious hedonism. The consumer no longer wants to get dictated by brands but would much rather possess something that complements his/her overall appeal. In terms of the advertisements, Diesel only uses fashion magazines and select retail outlets. As mentioned earlier, it is also cutting down on the number of retail outlets to personalize its interaction with the buyers and create a more controlled environment.
Diesel has a lot of competition coming in from a lot of established players like Armani. Ralph Lauren, Levi, Wrangler and others. In terms of the marketing strategy, Diesel has been following a niche marketing strategy which has focused o building a loyal consumer base. The pricing model is almost similar in all the places of operations foe Diesel and it follows the premium mode of pricing. This is largely because Diesel believes that it is much more tan just another brand. It is a lifestyle and fashion statement in itself.
The current product line of Diesel includes the main Diesel line, Diesel Gold, Diesel kid and 55 DSL. The collections of the UK and the European markets have been boosted by the stellar sales of Diesel kid. This brand is immensely popular in the European market and holds the number two position. With so many products lined up its sleeve, Diesel is going to be the force ton reckon with in the UK market for years to come.