Today the luxury market is highly valued and is constantly evolving. Luxury has now permeated different sectors, to hit all the targets (especially women), from clothing to jewelry and alcohol.
The diversity of choice in the range of products can reach the widest possible target. Previously luxury was a way of consumption for those who were "exceptional".
Today, luxury plays a role in social value. Moreover, there is a certain democratization of luxury. Many brands are on the market such as Louis Vuitton, Gucci, Yves Saint Laurent and Chanel. Each has managed to make inroads into a market where competition is fierce.
However, a key player who stands out in the market is the group LVMH (Louis Vuitton, Moet & Hennessy). Among these brands, Chanel is of particular interest for this study.
Created in 1910 by Gabrielle Chanel, also called "Coco Chanel, the brand is one of the best known French haute couture houses. In 1921, Chanel with the help of Ernest Beaux launched the perfume Chanel No. 5. The fragrance is now the world's best selling fragrance. The Chanel brand creates a real buzz among consumers through improved, intensive and efficient communication.
The young generation places great importance on appearance and style making it a perfect target for communication. Chanel associates the brand with well known actresses or models in a way to confirm its luxury image and brand.
Tags: Chanel, luxury brand, marketing/sale strategy
[...] The development of an commerce site could be very beneficial to Chanel in terms of sales. We can also advise Chanel to offer products at mid-scale to reach more customers, however this policy is risky because their loyal customers might think they are not the only ones who possess this brand. Conclusion Gabrielle Chanel wanted to simplify women's lives. All her life she was bold and trendy with conventional wisdom (trousers for women, fashion, short hair). Subsequently, Chanel was able to develop and assert itself in a growing luxury market. [...]
[...] Many brands are available in the market such as Louis Vuitton, Gucci, Yves Saint Laurent and Chanel. Each has made a place of its own in a market where competition is fierce. However the key player in the market stands out: the LVMH (Louis Vuitton, Moet & Hennessy). Among these brands, Chanel in particular interests us, created in 1910 by Gabrielle Chanel called "Coco Chanel", this brand is one of the best known French haute couture houses. In 1921, Chanel with the help of Ernest Beaux launched the fragrance Chanel No this fragrance is the world's best selling now. [...]
[...] Initially, Chanel had only ready-to-wear, as times passed it developed Perfumes, jewelry, furs, leather goods etc. its leather luggage bags made it one of the most prestigious fashion houses in the world. Chanel is a symbol of luxury and sensuality. Moreover, it has retained its image and diversified over time. Finally, the brand was able to play on stars to increase its popularity. [...]
[...] The external analysis Identify opportunities and threats of the luxury industry. What are the key factors of success of this business? Job Opportunities Threats Political • Laws against • The introduction of new counterfeiting laws to protect animals • Lower limits related to imports of precious materials Economy • Offer online shopping • Counterfeiting causes a • Be based on a drop in sales and relationship marketing particularly affects brand (customer retention and identity customer follow-up) • The global economic crisis • Expand into new foreign leads to a drop in tourism markets even richer particularly • Continue to enjoy the Chinese and Russians who are snob appeal the main customers of the • General increase in the luxury industry purchasing power of • Too much diversification consumers of supply will lead to lose • Increase in tourists at credibility a football very high purchasing power diamond) • The luxury (second • Competition from consumer economic sector in France) products (Zara, H & which is one of the areas most is very similar to high-end resistant to the economic products crisis social • Target the 'new consumer' • Wide-spread distribution as young people who will be of products to the consumer tomorrow's consumers results in a deterioration of the brand image of • Evolution of mentality: luxury. [...]
[...] Thus, it confirms its luxury image and brand. We therefore advise to continue in this goal by pursuing new "idols" for young people. Moreover, it would be good to highlight the advertising campaign in line with the film "Coco avant Chanel." This is a big publicity stunt for the brand. In addition, Chanel is present in many luxury markets, however the clothing market is somewhat neglected with regard to the communication. Therefore, it would be good to focus more in this market. [...]
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