1. Executive Summary
Burberry, founded in 1856, is a leading international luxury brand. Burberry designs, manufactures and licenses apparel and accessories for distribution through its own stores and network of prestige retailers worldwide. In early 1998, the new management team at Burberry set out its strategy to reposition and revitalise the brand, which resulted in significantly improved results and strengthened the base to build the business. With continuous growth since last five years, Burberry has faced new challenges of brand sustainability and positioning in a volatile industry (fashion) where customer behaviour is unpredictable. Thus, it requires a strategy that lays foundations for long-term growth and addresses the issues …show more content…
· Introduced the Prorsum designer collection for women in Spring 1999, which further extended to menswear for the Spring 2000 season. In addition, the collection provided valuable design inspiration for the Burberry and Thomas Burberry clothing and accessories collections.
· Enhanced the awareness and perception of the brand among customers and the fashion industry through an image-building global advertising campaign and extensive editorial coverage.
· More modern merchandising focus and product extensions, transforming the fashion consciousness of the brand.
· Reviewed the distribution channels, leading to more focused presence in premier retailers worldwide. Additional opportunities were addressed in the retail division with the closure of a number of non-strategic Burberry stores, the opening of a new store in Las Vegas and a new flagship store in London.
· More disciplined stock control, enhanced systems and a substantial reduction in the size of the range, leading to improved profitability.
· Renegotiation of Japanese licensee arrangements resulted in enhanced control of the brand, the confirmation of Burberry's pre-eminent position in Japan and a very significant boost to profitability.
Analysis of the marketing plan of Bravo on the four dimensions of marketing mix (4Ps) reveals the