Some Gucci’s main competitors within the luxury industry include top brands in Italy and in the world, such as: Versace, Chanel, Prada, Louis Vuitton, Dior and Armani. Concerning the Italian market, I found interesting to analyze Versace Prada and Bottega Veneta as main competitors of Gucci and analyze the points in common and the differences.
First, all these brands belong to an Italian heritage, even if Gucci and Prada were founded much earlier than Bottega Veneta (1967) and Versace (1978). We can say that they all are luxury brands, with a price range that goes from about 200 € to 15.000 €, and that the customers’ target is almost the same, business women and women belonging to high class socialites but each brand has different brand values therefore customers have different needs. Only with Versace the target audience is almost the same because as Gucci, it provides a collection that makes a woman feel confident, stylish and sexy. They provide a fragrance line and, apart from Bottega Veneta, also a children’s line. Both Prada and Versace propose celebrities endorsements in their advertisements, as Gucci does; the latest adv. of Gucci was the one with Blake Lively, an American actress. Regarding the brand values I found that Gucci and Versace are very similar: we can define Versace with the “Versace Myth”, the idea of combining a world of fashion with glamour and sexiness. Even for Gucci we can say the same thing, in fact “sexy” is definitely one of its brand value.
After having analyzed the commonalities between these brands is also important to dwell on the differences. Without any doubt Gucci, Versace, Bottega Veneta and Prada offer different collections: Versace is much more modern and innovative compared to Gucci; Prada is very feminine and sober, we can define it more conservative, but at the same time very trendy and fashionable; finally Bottega Veneta is traditional, sober and definitely not sexy.
As for the variety of the...
Please join StudyMode to read the full document