Luxury Good and Burberry
3.2.1 Brand Equity
Earning the royal seal of approval and outfitting the Royal Army placed Burberry on the map as “the original British luxury brand” but somewhere along the line, it became the raincoat brand known more for outfitting stuffy elder statesmen than the cloth of choice for the glamorous rich and famous. Burberry revamped its brand image, hiring new designers who took the signature plaid from raincoats to bikinis. Recent ads featuring British fashion icons like Kate Moss and Stella Tennant embody the essence of the new Burberry, depicting a modern edginess merged with a classic British elitism. Though they faced alienating loyal customers, Burberry balanced innovation with tradition to create an authentic, yet altogether more contemporary luxury offering. Since its reinvention, Burberry 's equity has only increased, both in awareness and in meaning, that meaning now being relevant to a much broader audience.
3.2.2 Brand Position
Burberry under Bravo repositioned as a distinctive luxury brand with a clear corporate strategy aiming to broaden its appeal to new customers while retaining its traditional clientele. The reposition included
• A highly distinctive advertising campaign
• A change of name from Burberrys to Burberry
• A strong in house design team and the launch of Prorsum
• Closure of unprofitable and non-core retail stores in Europe
• Opening a new flagship store in London- New Bond street
• Elimination of inappropriate wholesale accounts including the termination of distribution to known parallel traders;
• Upgrading of the international Burberry London product range, including the restructuring of its sourcing and pricing, and the elimination of unnecessary product variation.
3.2.3 Competition
Burberry competitors are primarily in the Apparel & Accessories Retail industry. Burberry also competes in the Cosmetics, Beauty Supply & Perfume Retail, and Apparel sectors.
Challenges facing Burberry today include increasing
Earning the royal seal of approval and outfitting the Royal Army placed Burberry on the map as “the original British luxury brand” but somewhere along the line, it became the raincoat brand known more for outfitting stuffy elder statesmen than the cloth of choice for the glamorous rich and famous. Burberry revamped its brand image, hiring new designers who took the signature plaid from raincoats to bikinis. Recent ads featuring British fashion icons like Kate Moss and Stella Tennant embody the essence of the new Burberry, depicting a modern edginess merged with a classic British elitism. Though they faced alienating loyal customers, Burberry balanced innovation with tradition to create an authentic, yet altogether more contemporary luxury offering. Since its reinvention, Burberry 's equity has only increased, both in awareness and in meaning, that meaning now being relevant to a much broader audience.
3.2.2 Brand Position
Burberry under Bravo repositioned as a distinctive luxury brand with a clear corporate strategy aiming to broaden its appeal to new customers while retaining its traditional clientele. The reposition included
• A highly distinctive advertising campaign
• A change of name from Burberrys to Burberry
• A strong in house design team and the launch of Prorsum
• Closure of unprofitable and non-core retail stores in Europe
• Opening a new flagship store in London- New Bond street
• Elimination of inappropriate wholesale accounts including the termination of distribution to known parallel traders;
• Upgrading of the international Burberry London product range, including the restructuring of its sourcing and pricing, and the elimination of unnecessary product variation.
3.2.3 Competition
Burberry competitors are primarily in the Apparel & Accessories Retail industry. Burberry also competes in the Cosmetics, Beauty Supply & Perfume Retail, and Apparel sectors.
Challenges facing Burberry today include increasing