Two luxury brands with very similar identities, totally at odds on strategy, so which one has the right idea?
Mulberry announced earlier this month that following other luxury brands by rapidly increasing prices as the brands popularity grew, has left them out in the cold with the British customer. While the Eastern European market in still buoyant in the luxury sector, it seems the loyal British customer has been priced out of the market- ironic as it was in the UK where Mulberry (carried by Sienna Miller, Kate Moss & Keira Knightley) initially found fame. A large proportion of customers sought out Mulberry for the unrivalled craftsmanship, quality and timeless design present in each handbag. Being on-trend was less important than owning a bag that works with everything in your wardrobe and doesn’t buckle at the first sign of wear. The product remained ‘right’ but the price was ‘wrong’. Acknowledging the error of judgement, Mulberry will be introducing a more affordable range (£495-£700) in June.
(Alexa Pickle Green tote £1,100)
On the other side of the pond Coach is also experiencing a downturn in profit. In a bid to step outside the shadow of its competitors, Coach plans to raise prices. Maybe the fact the luxury market is over-crowded isn’t a problem that can be easily solved by changing your competitor. Looking at why your competitors are succeeding would surely be a better solution? A brief look at Kate Spade’s fearless approach to design and quirky styling quickly provides the answer to why this brand is growing so swiftly. Michael Kors isn’t quite so radical in design but boy this brand has embraced social media in BIG way.
Hopefully Coach has studied the mistakes Mulberry made and has a fool-proof plan to convince loyal customers that the extra cost of owning one of their lovely handbags is truly worth it.
I’ve been keeping this under my hat for a few months but now I can shout it from the rooftops…… The University of the Arts London are featuring lil’ old me in the UAL Alumni Association Profiles.
Before Christmas last year (yes I’ve been keeping this a secret for that long!) I agreed to answer a few questions for the University of the Arts London Alumni Association about LCF, my degree and Fashion Follows Her. For the full article click here…
You’d be forgiven for assuming Chanel Haute Couture is a closely guarded secret. Locked away within the inner sanctum of Chanel HQ Paris, in a gold vault marked ‘Top Secret’. Something as precious as Chanel must be protected, preserved to maintain the brands exclusivity. Karl Lagerfeld has bucked the trend and invited the world to take a peek inside the wondrous realm of Chanel.
Regular readers will know I’ve been contributing to eStyler Magazine for the past few months, whilst the lovely (and rather stylish) people at eStyler get ready for the official launch. eStyler will help up and coming designers and recent graduates showcase their collections and I have been appointed Editor of the sites magazine. How very exciting?!! Look out for the official launch of eStyler and of course enjoy the online magazine…..
One of the many things I love about blogging is the large social community and millions of amazing blogs just a few clicks away, waiting to be discovered. Here I will be selecting my top 5 favourite posts from the last 7 days; a mixture of news, inspiration and posts guaranteed to raise a smile from even the most po-faced fashionista!