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Critical evaluation of two luxury brand stores - Essay Example

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Critical evaluation of two luxury brand stores

Such kinds of people have high purchasing power and hence they go for such kinds of products. When one buys something of luxury brand one can genuinely feel the difference. Luxury brands grow and expand even when the economy goes down. People spend thousands of dollars to buy such kind of products. In this paper two luxury brands Hermes and Chanel will be considered. Hermes is a French manufacturer of luxury goods with its headquartered in Paris, France. Similarly Chanel is also a high fashion house headquartered in Paris, France. The each has their own touch points across the world where they reflect their individuality with the customers. Such brands need to take care of their marketing strategy in such a way that their brand value does not get affected. Discussion In this section of the essay, the detailed discussion about each of the two chosen brands will be conducted. The discussion of each brand includes overview and analysis of the brand; and brand message and communication across brand touch points. In overview and analysis of the brand the key focus will be on brand position and heritage, and brand DNA. In brand message and communication, the key focus will be on the concept stores and other communication tools. Analysis of the two brands in above mentioned perspectives has been conducted separately for each of the two brands below. Hermes International Figure 1: Logo of Hermes International It was founded by Thierry Hermes in 1837. ...
Hermes International S.A. has around 304 exclusive stores including 180 branches, 21 retail outlets and 124 concessionaries (Tran, 2012, p. 3). It employees only 9081 persons, but their revenues keeps increasing rapidly in many years. Their revenue in 2011 was 2,841 million euros. The prices of their products are sky high but still their sales keeps on increasing every year. For example on an average Hermes handbag cost $ 3000 -$ 5000, but people still prefer to buy them (Hermes, 2013, p. 1). Hermes targets teenagers and young adults who love fashion. Their customer wants high quality merchandise with good features and wonderful after sale service. Their customers earn high incomes and do not bother about how expensive the prices are. They basically look for limited edition leather watches. Such customers want to own something which other common people can’t afford to buy. United States is an important market for Hermes. They target high income customers who are mostly males. Hence they focus more on male accessories than female counterparts (Ritson, 2010, p. 1). Likewise their target customers are different across different countries, depending on the demography of the economy. Like Hermes is now trying to target the Mainland China. According to a study in China, male consumer s purchase more luxury products online as compared to female counterparts. So there also they sell the male accessories. Figure 2: Hermes International Store in London Hermes basically gives two powerful messages thorough their stores. One is the craftsmanship displayed by their artisans in creating their products. Another message is the quality and commitment to service delivery which is displayed by the service received by the customers who visits ...Show more

Summary

Critical evaluation of two luxury brand stores Contents Introduction 3 Discussion 3 Hermes International 3 Chanel 7 Critical Analysis 14 Conclusion and Recommendation 15 Reference 16 Introduction Luxury brands have always fascinated many peoples around the world…
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