1. INTRODUCTION a) Background information b) Retailing Industry
| 2. ANALYSIS AND EVALUATION i. Market Segmentation ii. Marketing Strategies * Price, Promotion, Product, Place iii. SWOT analysis iv. Environmental scanning * Porter’s 5 competitive forces analysis
| 3. REFLECTION
A. DBS Dialogues Tracks Charles & Keith's Steps to Asia, Middle East and Europe B. Retail Sales Index, Food & Beverage Services Index (March 2012) C. The world is at his feet
D. Singapore retail industry faces challenges ahead
CHARLES AND KEITH
Charles and Keith is one of the many popular brands in Singapore that made it worldwide. It is known for its women’s footwear as well as accessories such as handbags and wallets. Established in 1996 by Charles and Keith Wong, it started as a small and simple shoe store at Amara Hotel arcade in the Central Business District. (APPENDIX C) The brand soon became very popular within the next 2 years and seeing the potential for further expansion, Charles & Keith expended into the South East Asian market due to the similar climate and culture. A few years later, they ventured into many other countries all around the world. Charles & Keith was also the first retail company to launch an online store in Singapore. Today, Charles & Keith have set up more than 20 outlets in major shopping centers and suburban malls in Singapore and it is now an international brand with over 190 franchises in 27 countries namely in Asia, Europe, Middle East as well as Africa and it is also a parent company for the luxury brand Pedro. Pedro was introduced in 2005, with a line of men’s footwear, which soon became a luxury brand for both men's and women’s collections, together with the introduction of the Charles & Keith Signature Label. RETAILING INDUSTRY
Charles & Keith are now at the forefront of the footwear industry due to their unique blend of innovative marketing and product concepts. In Singapore, retail sales of medical goods & toiletries, recreational goods, provision & sundry shops, food & beverages and wearing apparel & footwear decreased between 1.1% and 3.9%. Retailers of optical goods & books and department stores also registered declines in sales of 1.0% and 0.7% respectively in March 2012 compared to February 2012. (Refer APPENDIX B)
ANALYSIS AND EVALUATION
Each retailer tries to differentiate itself from their competition; Charles and Keith differentiate themselves by producing their own designs of fashion products and to offer high quality products and services, with a commitment to perfection and they segment their market using demographic segmentation where they cater to the upper-middle class of customers who appreciate high fashion style shoes at affordable and mid-range prices. The company's targets the female consumers who buy their shoes every month. They launched the Signature Label in 2007 in wide range of shoes for fashion conscious ladies with fine taste. It is to cater to the higher class people as they are prices at a higher price as compared to the other products.
Products & Price: With its uniqueness of their in-house design and its affordable prices, it has succeeded with its remarkable high street fashion shoes and accessories. Charles & Keith has won the hearts of many, positioning itself as one of the most marketable fashion footwear brand in the market. They develop and produce a distinctive line of stylish designs that cater to market sentiments. With an attitude that displays style and confidence, Charles & Keith has captured a legion of loyal fans and placed itself as a sought-after and preferred fashion brand in the highly competitive market. Promotions: Charles & Keith has promotions on its online store as well as their retail store. Promotions online such as the on-going free...
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