Posted by Barry Silverstein on October 23, 2013 04:41 PM
The brand graveyard is littered with those that have lost their way, primarily because they try to change who they are and what they stand for. As any brand marketer knows, it is exceedingly difficult to change the perception of an established brand.
Coach is a good example of that difficulty. Once renowned for its leather goods, the luxury brand has made a concerted effort this year to reinvent itself as a lifestyle brand with broader appeal beyond its signature wallets and handbags. The company has introduced an array of products, including footwear, women's apparel, jewelry, sunglasses, and watches. In an attempt to gain the attention of men, Coach even brought to market a luxury baseball glove with accompanying bat in July. (The bat has since been discontinued.) That gambit, at least, seems to be paying off, as sales of men's accessories—bags, driving gloves, and even alligator-wrapped flasks—have increased by 25 percent, according to Bloomberg Businessweek.
Unfortunately, the men's line has been about the only bright spot for the company. North America same-store sales dropped nearly 7 percent in the three months to September 28, and the company said to expect a similar skid through the end of the fiscal year, which closes in June 2014. Ironically, Coach continues to move its discounted handbags at its outlet stores, which account for 60 percent of North American sales (double the sales from seven years ago), according to Quartz. Of course, that simply reinforces the fact that Coach is really a one-product brand.Continue reading...
Posted by Mark J. Miller on August 26, 2013 01:48 PM
It’s been nine years since designer Tory Burch’s clothing and accessories started appearing on boutique shelves. Now that her core business has breached its borders, Burch has no intentions to slow the process. Instead, she's creating a lifestyle brand with the launch of her beauty and fragrance lines.
The line consists of several makeup items, a fragrance, as well as a bath and body collection that includes a scented candle. The new collection will be available Sept. 26 at Tory Burch boutiques as well as major retailers such as Bloomingdales.
Burch told Women’s Wear Daily that her family members inspired parts of the collection. The fragrance, which is made in partnership with the Estee Lauder Cos. Inc., contains traces of earthy vetiver, which her father and brothers wore, while the line's regal design was inspired by her mother's many designer perfume bottles. The natural tones of Burch's makeup were also inspired by her mother's minimalist style.Continue reading...
Posted by Mark J. Miller on June 13, 2013 01:54 PM
New York City loses $1 billion a year in tax money thanks to counterfeit goods being sold on its streets. At least that’s what one City Council member is saying to help promote her bill that would have police arresting those who buy the products as well as the those who sell them, according to the Associated Press.
The plan, which will be addressed at a public meeting on Thursday and is expected to come to vote in the next few months, is to have the buyers of fake Pradas, Chanels and other luxury goods either fined $1,000 or put in jail for a year.
Mayor Michael Bloomberg’s administration is planning to oppose the bill, the New York Post reports, because the size of the fine would keep tourists from buying pretty much anything. Plus, it wouldn’t be good PR to have images of tourists in jail floating around.Continue reading...
Posted by Dale Buss on May 14, 2013 09:26 AM
BMW is investing 3 billion euros in EVs and marketing.
AP execs outraged over government probe of phone records.
Sony is targeted for breakup by American investor.
Airbus aims to steal limelight from Boeing at upcoming Paris Air Show.
Amazon workers go on strike in Germany.
BNP Paribas eyes mobile and online banking.
Citibank says "no fees" means "never."
Coach approached Tory Burch about a deal.
Coca-Cola faces claim that Coke top-secret recipe has been found.Continue reading...
Posted by Shirley Brady on April 1, 2013 08:59 AM
Apple loses iPad Mini trademark, and finds a fan in Kim Jong-un as North Korea rattles saber and tensions rise with U.S., while increased China headaches include hacking threat and iPad regulation.
Discovery Communications expands global channel reach and launches scripted programming.
Novartis loses cancer drug patent battle in India.
Amazon buys Goodreads community-driven user reviews website.
AMC reveals new tagline and logo.
Armani hires Cate Blanchett for $10M campaign.
AT&T scores with March Madness Twitter campaign.Continue reading...
Posted by Alicia Ciccone on February 18, 2013 10:57 AM
Michael Kors may very well be the most influential person in New York fashion—or at least the one with the most business prowess.
The brand was just named the most-searched American fashion brand worldwide, beating out prominent names like Marc Jacobs, Ralph Lauren and Calvin Klein in a study by Digital Luxury Group.
Launched in the early 80's, the designer's clothing and accessories company continues to beat Wall Street expectations and reel in more HENRYS, or "High Earners Not Rich Yet" shoppers, with fashionable yet accessible handbags, watches and sportswear. Rightfully so, the designer's Fall 2013 collection debuted at New York Fashion Week with a survival theme, perhaps a reflection of its leading man's reputation in the industry.
Arguably the new Coach, Kors claimed market share from its rival accessories manufacturer after the holiday shopping season. Coach has seen a slowdown as of late, with competitors like Tory Burch and Kate Spade—both of which appeared in the most-searched top 10—taking a strong stand in the luxury goods market.Continue reading...
Posted by Mark J. Miller on January 24, 2013 02:43 PM
Not long ago, Coach was the name to have on your handbag. Plenty of celebrities were walking around with them. Gwyneth Paltrow, Eva Longoria, and Jennifer Garner all had one, as did many other American women, whether the real thing or at least a knockoff.
Things changed fast. Now Coach is feeling pressure from competitors like Michael Kors, Ralph Lauren, and Tory Burch. It announced that sales dropped in the 2012’s final quarter despite the busy holiday shopping season and an overall 10 percent growth in the handbag market, marking the first time since it went public in 2000 that “North American sales grew more slowly than the broader market for women's handbags and accessories,” according to The Wall Street Journal. And North America accounts for two-thirds of the company’s sales.
So Coach says it's branching out, attempting to turn itself into a lifestyle brand — and turn itself around in the process. It will grow its footwear line this year before focusing on women's apparel, jewelry and watches, British Vogue reports. And its stores will also get a new look, Women's Wear Daily reports.Continue reading...
Posted by Dale Buss on January 2, 2013 09:02 AM
Kia names first non-Korean as president and integrates Google Maps.
Avis to acquires Zipcar brand for $500 million.
Nivea woos investors as CEO admits Rihanna was the wrong brand ambassador and brand returns to NYC's Times Square as New Year's Eve event sponsor.
Amazon apologizes for Christmas Eve outage.
American Girl's 2013 Girl of the Year doll addresses U.S. arts education cuts.
Apple sees its store in Paris robbed.
BBC Worldwide appoints chief brands officer.Continue reading...