Table of Contents Hide
The Numerous fashion businesses springing up seems to birth a whole lot of competition for the Most Valuable Fashion Brands. Fashion! It’s kind of funny how fashion has become so prevalent in our world today and quite a large number seems to desire to keep up with the trends and follow through on the latest additions. Having a fashion wishlist from the most valuable fashion brands is necessary, but now let’s get down to the nitty-gritty of the lessons from the most valuable fashion brand in the world.
Just a subtle reminder, there are numerous valuable fashion brands on the globe today, ranging from, Gucci, Louis Vuitton, Chanel, Hermes, Rolex and the likes. It is also important we know what difference each makes in dominating the fashion market space.
Of all the valuable fashion brands in the world, Gucci has been a front-runner and well recognized as the biggest selling fashion brand and the Most Valuable Fashion Brand. The brand is widely known for dishing out qualitative products that are presentable and acceptable. This has also helped them maintain a solid brand position in the mind of their target consumers. These days having a product of the Gucci brand shows you off as an affluent and brand-conscious individual. Interesting!
Pay close attention as I unravel three key branding and basic marketing lessons from one of the world’s most valuable fashion brands: GUCCI.
Think Big And Start Small.
It is brilliant to think big, in fact, it is of great essence. In venturing into any career pursuit, or owning something big like a fashion brand, it is ideal to envisage an important future of that career. This is what having a fashion business plan would do for you. But the problem with most people who have a desire to achieve this is that they neglect the importance of a business plan and do not want to start small. For a big brand like Gucci to get to where it is today, you need not doubt that they had a working plan, saw the future, planned the future, they dreamt of it, it was thought of, and most importantly, they started small, with what they had especially in their marketing techniques.
Fashion is flexible! It is not a do or die affair. It is not enforced to own the biggest boutique in town before actually achieving what you so desire. Gucci as the Most Valuable Fashion Brand, started with what they have, where they were and the little human resource available. When business is new, you might need to become everything your business needs until you have enough capacity to hire hands.
Here are a shocker peeps! Gucci actually started from a small leather-goods shop where woven bits of hemp were interconnected to produce strong leathers as a result of a leather shortage war that occurred. The success story is really mind-blowing. It doesn’t matter how the startup looks like, what matters most are the endpoint, bringing your thoughts and dreams into reality. This wouldn’t have happened without a structured business plan that forecasts the future from the present. Download a fashion business plan
Broaden Your Target Audience
One thing that’s as important as your business is knowing your target audience, what they are capable of and ensure you stick with them. Gucci’s main target audience has always been high income and status men and women from different age groups. The sole reason was to prevent the brand from communicating with one specific generation, not leaving the rest clueless of they have to offer. With this in view, they accelerated to reaching out to as many people as possible, thereby covering a wider target audience. So, bear in mind to expand your target audience and ensure your brand products and services appeal to them all. One way to achieve customer loyalty is by consciously building a brand.
Treat Your Customers with dignity.
“Customers are always right”, cliche though but you don’t want to forget this. This is one factor the Gucci brand hasn’t failed to enforce. They have a large target audience, yet they’ve been able to treat them rightly. Understanding that without their customers they wouldn’t be where they are today.
In this regard, they carry out market research about their clients in order to identify their tastes, needs and what they are actually expecting from them. And as such, they maximized the opportunity and result obtained to create their products that suit their target consumers perfectly. This also gave them an edge to reposition their brand as well as helped them maintain great fruition in the fashion world. The care you show to your customers, how you treat them, the way you address and speak with them truly matters, never take them for granted so you don’t end up losing all you’ve struggled to garner and achieve over time. We have captured all these success secret needed for success in the fashion industry in this fashion business plan.