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Apparel Product Extension: Development, Marketing and Brand Opportunities
just-style, July 2011, Pages: 75
This latest first-edition report from just-style explores the opportunities for extending the product mix in the apparel industry. It looks at both brands and retailers of apparel that have a wide range of existing products positioned in terms of price, fashion ability and reputation. The report contains case studies on the following apparel brand and retail positions:
Luxury goods companies
Designer names
Top brands
Better brands
Middle brands
Lower brands
Better own label retailers
Mass market own label retailers
Budget own label retailers
Supermarkets
Online
Like so many things in life, the motivation for changing from the status quo is either greed or fear. The company sees what it perceives as more attractive opportunities to increase sales or make more profit in a new product or new market position. Alternatively, it believes that if it stays where it currently is, it will be defeated by new or more powerful competitors.
This report aims to offer advice and guidance through its strategic thinking on how companies can successfully extend their products and analyses the various opportunities and threats of taking this product development route.
The research is based on the author's own strategic experience, from speaking with industry experts and from just-style's recent survey questionnaire. The survey asked key questions on this subject and the results are provided in this report.
Chapters in the report discuss:
Changing your market positioning
Extending (changing) the market through internationalisation
Changing the route to market or the customer positioning
The power of the brand name (with results and analysis from an exclusive just-style readership survey)
Micro product extension
Limited, moderate and substantial product extension
Product extension beyond apparel
Thinking outside the box; brand extension to retail, design anything, reverse into apparel
Failed product extension; how to shoot yourself in the foot
Report extract:
In the author's experience, it is actually cheaper for a brand to design a new sub-range for the existing customer base, than it is to try to open new types of retail account or venture into a new territory or country. It is also cheaper for a retailer to invest in new merchandise, either a new brand or an internally designed own label range, than it is to invest in new markets. New markets, be they in the same locations but at different price points, or in new locations or countries require significant cash to be invested in retail property.
An interesting example of this at the moment is the own label re-positioning being undertaken by Sir Phillip Green at Arcadia and BhS in the UK. His intention is to have fewer, but on average, larger BhS stores, which will stock other Arcadia labels, such as Dorothy Perkins, Evans and Miss Selfridge.
just-style's view is that extending the product is an easy and relatively cheap option for apparel brands and retailers considering their strategies.
Product samples
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