Purpose: To explore the critical dimensions necessary to create and maintain the success of a luxury fashion brand.
Design/methodology/approach: This study adopts a qualitative approach in the form of case studies of 12 international fashion retailers. This involved semi-structured interviews with management to explore their knowledge and experiences, supported by secondary research such as internal documents and media reports.
Findings: Identifies a key luxury fashion brand attributes that are crucial in the creation and maintenance of the brand proposition. The management of the luxury fashion brand is complex, and requires a consistent and coherent approach.
Originality/value: An empirical understanding of the luxury fashion brand's critical dimensions will assist in effective and efficient luxury fashion brand management.
"A successful brand has a strong identity (mentally and physically), is innovative, consistent, competitively positioned, and holds a matching positive image in the customers mind."
A brand as a term, name, design or symbols, or as a combination of these, that is to identify a product or service and differentiate them from their competitors. A brand is a very important part of a product and will add value to the product for the consumers and can thereby be a great competitive factor. The brand can help consumers to make a choice in their consumption and the brand can carry a message on to the consumers. The management of creating and caring about a brand is called branding and has become more and more important in the highly competitive market space.
The brand = product + package + added values. The added values are the associations that the target groups have for the brand. It is relatively hard to distinguish between the effects of the product, package or the added value because the customer buys the totality. Meanwhile the different dimensions can become more prominent depending on the aspect that the company decides to focus on. The product value can grow with good design.
Top Ten Most Expensive Fashion Brand 2013
Gucci is the most expensive clothing brand of the world in 2013. This is most prestigious Italian Clothing Brand famously known for designer clothing products. Beside clothing line, this brand is famous for luxury luggage, hand bags and designer shoes.
Dolce and Gabbana (D&G):
D&G is another most expensive Italian fashion brand, this brand is famously known for its pinstripe suits, trendy coats and bright and bold dress prints. D&G was started by Italian fashion designers Domenico Dolce and Stefano Gabbana.
Chanel is most popular brand among girls, because of its incomparable design and unique quality of texture. Chanel brand is also famous in beauty products.
When the aristocratic societies have to choose any brand, they choose Valentino first. Valentino is most famous for its fabulous evening wear range. Brides from rich family prefer to have Valentino wedding dresses.
Burberry becomes one of the most expensive luxury brands because of its cuteness, innovative way of using colors. It is taken as most romantic fashion wear brand. This brand includes bags, shoes and accessories.
According to most fashion designers and artists Versace is most expensive seasonal clothing brand. This is one of the most famous brands for both men and women. Innovative design and quality of fabrics are versace unique features.
Dior is taken as most glamorous expensive fashion brand, especially among women. Its famous product line includes perfumes, bags, and sun-glasses.
Without bags no fashion will complete, and when it is the matter of bag, the most wanted brand is Hermes. Hermes Birkin is spotted in the place of most expensive, luxurious and most designed bag ever. Its products line includes scarves, perfumes, Jwellery and Watches.
Armani is the one of the oldest fashion brand and well know around the world. This brand is famous for its Jeans and T-shirt. This brand is believed to be one of the most popular brand names.
Morio Prada established Prada fashion in 1992. Now Prada is one of the top ten most expensive fashion brands. This Italian clothing brand is famous because of its simplicity, durability and trendy features. It has huge network and mostly preferred by boutique owners.
1. Overview of fashion brand - By T.S.Sowmya
2. Textile progress- By V.R.pareekh
Nikhil Bhosale is student at D.K.T.E
Societys Textile and Engineering Institute, Ichalkaranji, India