Due to the changes in technology British luxury brand Burberry has changed its global product and marketing strategy. Burberry is using social media to reposition and better market its product. For small fashion companies like 3.1 Phillip Lim the use of social media to generate business internationally can be harmful to its reputation. I will discuss the pros and cons each company could face while using social media to generate business internationally.
Burberry was founded in 1856 by Thomas Burberry, who opened his first store in Basingstoke, Hampshire, England. By 1870 the business had established itself by focusing on the developing of outdoor attire. Burberry is most famous for its trench coat. The company has branded stores and franchises around the world, and also sells through concessions in third-party stores. Queen Elizabeth II and The Prince of Wales have granted the company Royal Warrants. Royal warrants give companies the right to advertise the goods and services that they provide to the royal family. According to Business Weekly, Burberry is one of the most valuable brands in the world. For Burberry to maintain its presents in the fashion industry they have to be the forerunner when it comes to marketing. Today fashion designers are currently working on their spring collection for 2013. Technology has changed the way the fashion industry markets products. A collection of clothing that is presented by a company is created two years before it hits stores. Before a collection makes it to fashion week, samples of the designs are made and approved by the staff of the designer. A company would then showcase the designer’s collection at small private venues for a critique from potential buyers. Finally, The Fashion Company presents its collection to the world at fashion week. The response from the fashion show determines where that product will be placed, the price point and its...