It’s kind of funny how fashion has become so prevalent in our world today and quite a large number seem to desire to keep up with the trends and follow through on the latest additions. Having a fashion wish list from valuable fashion brands is necessary. However, let’s get down to the nitty-gritty of the lessons from the most valuable fashion brand in the world; Gucci brand.
Just a subtle reminder, there are numerous fashion brands on the globe today. They range 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 well recognized as the biggest selling 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!
Three lessons from the most valuable fashion brand in the world:
Pay close attention as I unravel the three key branding and basic marketing lessons from one of the world’s valuable fashion brands: GUCCI.
#1. 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. But the problem with most people who have a desire to achieve this is that they do not want to start small. A big valuable brand like Gucci didn’t start today. No doubt that they saw the future; they dreamt of it, thought of it, and most importantly, started small, with what they had. Fashion is flexible! It is not a do-or-die affair. It is not enforced to own the biggest valuable brand in town before actually achieving what you so desire.
Here’s a shocker peep! 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 is the endpoint; bringing your thoughts and dreams into reality.
Read Also: 5 Things You Must Do Before Starting a Business.
#2. Broaden Your Target Audience
One thing that’s as important as your business is knowing who your target audience is, what they are capable of, and ensuring 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 what 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 product and service appeal to them all.
#3. Treat Your Customers with dignity
“Customers are always right”, cliché though, but you don’t want to forget this. This is one factor the Gucci brand hasn’t failed to enforce. That is, they have a large target audience, yet they’ve been able to treat them rightly. Understanding that without their customers they wouldn’t be valuable brands today. In this regard, they carry out market research about their clients.
Hence, they can identify their tastes, needs, and what they are actually expecting from the brand. And as such, they maximized the opportunity and result obtained to create valuable brands that suit their target consumers perfectly. This also gave it an edge to reposition its brand and maintain great fruition in the fashion world. The way you handle your customers; caring, treatment, manner of speech and address, truly matters. Never take them for granted so you don’t end up losing all you’ve struggled to garner and achieve over time.
#4. Salvatore Ferragamo
Salvatore Ferragamo, an Italian shoemaker, opened a business in Hollywood in 1923 and quickly became well-known. Audrey Hepburn, Marilyn Monroe, Greta Garbo, and Judy Garland all wore his handcrafted shoes.
The upscale Italian label now produces apparel, accessories, and fragrances for both men and women. Burberry’s new CEO, Marco Gobbetti, has reenergized the company and will undoubtedly have a significant impact.
#5. Oscar de la Renta
opular with Hollywood stars like Anne Hathaway, Oscar de la Renta was a fashion designer from the Dominican Republic. Born in 1932, he dressed Jacqueline Kennedy for many of her key events. Stars loved Oscar’s vibrant use of pattern and elegant silhouettes.
#6. Marc Jacobs
In 1984, the same-named American fashion designer founded his label. The casual luxury company has a global presence and a thriving e-commerce site, with headquarters in New York.
Marc Jacobs is noted for his iconic Daisy fragrance and easygoing styling. He is the most nominated director for honors in the history of the Council of Fashion Designers of America (CFDA).
#7. Burberry
This British label is known for its fashionable trench coats with a tartan check design. Founded by Thomas Burberry in 1856, the label has a Royal Warrant as an Outfitter from Prince Charles and a Royal Warrant as a Weatherproofer from Queen Elizabeth.
Although the company is of British origin, they have a presence in many countries around the world and are particularly popular in Asia.
#8. Dolce & Gabbana
This Italian fashion house was founded in 1985 by Domenico Dolce and Stefano Gabbana. Since then, they’ve expanded their offerings to include jewelry, perfumes, purses, footwear, watches, and sunglasses, in addition to women’s clothing.
#9. Gucci
Guccio Gucci started this well-known Italian business in 1920. The first store opened in Florence in 1921.
Gucci, which is now owned by Kering, was reimagined for the current day by Creative Director Alessandro Michele. Gucci now makes apparel and suitcases in addition to handbags and shoes.
#10. Ralph Lauren
The fashion label, as valuable brand which was founded in 1967 by American designer Ralph Lauren, has various luxury lines. Ralph Lauren’s Purple Label line for men is the most expensive, while the Collection line for women is the most exclusive.
The famous Polo Ralph Lauren line features preppy, Ivy League style outfits and also popular fragrances and homeware.
#11. Giorgio Armani
The Italian fashion brand, founded by Giorgio Armani in 1975, has subsequently expanded to encompass Emporio Armani, Armani Collezioni, Armani Jeans, Armani Exchange, and Armani Prive.
Although many of the Armani lines are aimed at the middle market, labels such as Armani Prive sit firmly within the luxury segment.
#12. Yves Saint Laurent
This well-known French design house is recognized for its beauty goods as well as its androgynous look and stylish tuxedo suits. Yves Saint Laurent and his collaborator Pierre Bergé founded the legendary brand in 1961.
Yves Saint Laurent also popularized the safari look as well as camouflage and the trapeze dress.
#13. Prada
Mario Prada founded the Italian fashion company in Milan in 1913. Miuccia Prada, his youngest granddaughter, now runs the company, which is noted for its eccentric design.
Referenced in the movie, The Devil Wears Prada, this forward-thinking company is, particularly for its leather handbags.
#14. Chanel
Gabrielle “Coco” Chanel founded Chanel in 1909 and is known for her boucle wool outfits, beautiful perfumes, and quilted leather purses. Her designs have a timeless feel to them, and they are still popular today.
Many affluent women’s closets include a Chanel little black dress. The Diamond Forever classic bag, which costs well over £200,000, is perhaps Chanel’s most costly item.
#15. Versace
Versace, one of the most costly companies in the world, start in 1978. This Italian designer business, founded by Gianni Versace, creates garments using revolutionary textiles such as metal mesh.
Elizabeth Taylor, Jennifer Lopez, and Princess Diana have all worn Gianni Versace. Donatella Versace, Gianni’s sister, became the brand’s Creative Director after the founder’s sad death.
#16. Christian Dior
Christian Dior, one of the most well-known French luxury labels, has been around since 1946. The fashion house is popular with celebrities such as Charlize Theron and Natalie Portman and is frequently by Jacqueline Kennedy.
There is also Dior Homme for men and Baby Dior for children, in addition to women’s apparel and accessories. Dior Beauty, the brand’s cosmetics collection, is also a huge hit.
#17. Louis Vuitton
Louis Vuitton founded this famous French business in 1854, first recognized for its luxury luggage trunks and other leather products. Bernard Arnault, the world’s richest person, now owns the corporation.
Having branched out to clothing, accessories and jewelry, Louis Vuitton is popular with celebrities such as Angelina Jolie and Sarah Jessica Parker. Creative Director Nicolas Ghesquière has managed to revitalize the historic brand without compromising on elegance.
FAQ
What is the most valuable fashion brand in the world?
According to the ranking of most valuable clothing and apparel brands in the world in regard to brand value, Nike ranked first in both 2020 and 2021. In 2021, the American company’s brand value amounted to almost double the second most valuable brand, Gucci.
Which is expensive Gucci or Chanel?
Chanel (because that’s the brand we are talking about) debuted in 23rd place as the second most valuable luxury fashion brand in the world. As a result, Gucci (no. 39) and Hermès (no. In spite of this, there are a few brands that are more successful than others and whose market value is significantly higher.
Is Zara a luxury brand?
Spain’s luxury fashion retailer Zara posted 45.54 percent growth in its profit after tax to Rs 104.05 crore from the Indian market in the fiscal, said the company’s local partner, Trent Ltd. in its annual report.
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