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Fendi

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on 13 December 2014

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Transcript of Fendi

Fendi
Fendi History
Sales
Target Market
Customers over age 30 - 50 $100,000 income
Mostly Women
Targeting younger audience, by making a new line called Fendissimo
Making a furniture line called Fendi Casa
Modern classical dressed
Individuals and trendsetters
Nationality: USA, Japan, India
Competitors
All luxury brands
Sell handmade crafted leather goods, diamonds, eyewear
Strength
High brand recognition Ranked #75 on Forbes for innovative companies
Quality leather goods
Booming geographic market: In Japan and Europe
Locations in targeted markets: New York City
High profitability and revenue
Craftsmanship: Hand made in Italy and distributed to other coutries
Celebrity endorsement: Kim Kardashian, Lindsey Lohan, Rihanna
Founded in 1925
Via del Plebiscito, Rome
Owners were Edoardo and Adele Fendi
Collaboarted with Karl Lagerfeld in 1965
197 stores nationwide
In 2001, LVMH became largest shareholder
5 Fendi daughters
By: Michelle Skaf
Weaknesses
Opportunities
Threats
Market Strategy
Product
luxury goods: fur, leather, handbags, eyewear, watches
Everyday life: hobo, baguette, tote
Place
2015, moving headquarters in Rome to the Palazzo della Civilta Italiana
400 employees
197 nationwide stores
Major cities: Europe, America, Japan, China, & Middle East
Largest boutique: NYC
Promotion
myFENDI
online websites
newsletters
mailing list targeted towards loyal private clients
Fashion show events:
Ready to Wear 2015
Milan Fashion Week
Great Wall of China Runway
Pricing
Global Market Strategy
Japanese luxury markets
Not interested in Russian and Chinese market
Seasonality
Distribution Channel
Contingency Plan
Forecast
Limited customer base because of expensive products - not affordable for everyone
No discounts or sale promotions
Restricted retail opportunities because it only targets their products through their own stores
Excessive competition who are ranked higher in luxury brands
Booming luxury goods in Asian markets
Frequent exhibitions and events:
London New Bond Opening Store Event
Munich Maximilliansstrasse Boutique Opening Event
Fendi Un Art Autre fur traveling exhibition Beijing
Fendi and Cinema Milan event
Expansion of brand - China and Russia
Global economy
Increase in labor costs - leather goods
Intense competition: Louis Vuittion 14% Chanel 10% , Gucci 27% in Brand value
Increased counterfeit products sold at Walmart and Sam's Goods for cheaper
Hobo
Tote
Baguette
Formafantasma Collection made out of recycled Fendi leather
To celebrate craftsmanship in Italy the designer took part in the Design Performance Project
Making unique art out of recycled Fendi leather
Selleria Watches
Swiss made, Sapphire crystal
Water resistant
Available in Oval, Round, and Tonneau
Diamonds, silver, gold
Price varies from $950 - $2750
Selleria Video
Fendi Mission Statement
"Provide all of their buyers with high quality taste for the value of their money"
Top Markets
“In a world where many fields are dominated by opposing realities, hanging in the balance between the past and the future, there emerges the will to rediscover life in something archaic, anchoring us to the past"
luxurious scale :
Prestige pricing
top leather quality
customer satisfaction
craftsmanship
nothing ends with .99
no odd numbers
brand pricing policy
and image of product
closely related
Executive Summary
LVMH is one of the most demanding European luxury corporations, with over 60 different prestigious brands. Uses a multi-divisional brand strategy, to lower external risk factors.
Value Proposition
Fendi and Maserati collaborated and sponsored a co-brand called The Whispered Tour
Release three books called The Whispered Directory of Craftsmanship
Geographic regions where Maserati had high brand recognition, help Fendi build market
Selling for $474,515
Fendi has three success factors
1. Creativity
2. Technology
3. Craftsmanship
Satisfied customer base
Creating your own Baguette Bag
NYC
Many online wholesalers -- keeps brand authentic, simple and luxurious
The products are never discounted.
Maintain total control over the brand by making its product available only though myfendi.com
Educate customers about where the product can be safely obtained online.
Wholesalers: Neiman Marcus, Bloomingdales, Saks Fifth Avenue -- all the same pricing
Never license outside firms to avoid brand digression
Manage own inventory to ship products globally
Chanel overall brand sales increased by 4%
Fendi overal brand sales decreased by 17%
In Millions
Before
Profits were 800 million
Ranked #10 in Top ten luxury markets
Dropped sales by 17% in last year (2013)
To Be
Starting at end of 2014, invest $2.7 million to save the Trevi Fountain
CEO Pietro Beccari states " It is about tying us with a city that makes millions of people dream"
Want to raise profits to $1.1 Billion
Various types of Baguette Bags
Prices of each from right to left
Row 1:
1.$2350 2. $4250 3. $3100 4. $2550
Row 2:
1 $2250. 2. $2550 3.$3650 4. $3650
Row 3:
1. $2100 2. $2100 3. $3500 4. $2550

Product Life Cycle
As of 2013 their sales decreased by 17% and are not in the current growth stage - as compared to Louis Vuittion which grew 10% over the last year
Marketing Budget:
Increase by 7.3%
4% growth first 9 months of year
Decreased in sales last 3 months
Marketing Budget yearly is $10,849 million
Organizational Chart
Critical Success Factors
Full transcript