Harvard Case - 1436: The First Pure Chinese Luxury Fashion Brand?
"1436: The First Pure Chinese Luxury Fashion Brand?" Harvard business case study is written by Anat Keinan, Sandrine Crener, Hannah H. Chang. It deals with the challenges in the field of Marketing. The case study is 20 page(s) long and it was first published on : Feb 22, 2017
At Fern Fort University, we recommend that 1436 adopt a multi-pronged strategy to establish itself as the first pure Chinese luxury fashion brand. This strategy should focus on leveraging its unique cultural heritage, embracing digital marketing and e-commerce, and building a strong brand identity through targeted marketing initiatives.
2. Background
The case study revolves around 1436, a Chinese fashion brand aiming to become the first pure Chinese luxury brand. The brand is founded by a group of experienced professionals with a deep understanding of the Chinese market and a desire to create a brand that reflects China's rich cultural heritage. However, 1436 faces significant challenges in establishing itself in the highly competitive luxury market, dominated by established European and American brands.
The main protagonists of the case study are the founders of 1436, who are tasked with developing a strategy to achieve their ambitious goals. They must navigate the complexities of the luxury market, build a strong brand identity, and attract a discerning clientele.
3. Analysis of the Case Study
To analyze 1436's situation, we can utilize a combination of frameworks:
a) SWOT Analysis:
- Strengths:
- Strong understanding of the Chinese market and its cultural nuances.
- Experienced team with expertise in fashion and luxury goods.
- Potential to leverage China's growing luxury market and rising middle class.
- Unique positioning as a pure Chinese luxury brand.
- Weaknesses:
- Lack of brand recognition and established customer base.
- Limited resources compared to established luxury brands.
- Potential for challenges in scaling production and distribution.
- Difficulty in competing with established luxury brands' brand equity and heritage.
- Opportunities:
- Growing Chinese demand for luxury goods and a desire for domestic brands.
- Increasing online penetration and e-commerce adoption in China.
- Potential for collaborations and partnerships with global brands.
- Opportunities for innovation and product differentiation.
- Threats:
- Intense competition from established luxury brands.
- Fluctuations in the Chinese economy and consumer spending.
- Potential for counterfeiting and brand dilution.
- Challenges in maintaining brand consistency and quality across all channels.
b) Porter's Five Forces:
- Threat of new entrants: High, due to the ease of entry for new fashion brands, especially with online platforms.
- Bargaining power of buyers: High, as consumers have many choices and are increasingly price-sensitive.
- Bargaining power of suppliers: Moderate, as 1436 can source materials from various suppliers, but quality and exclusivity may influence pricing.
- Threat of substitutes: High, as consumers can choose from other luxury brands or opt for more affordable alternatives.
- Competitive rivalry: Very high, with established luxury brands and emerging Chinese brands vying for market share.
c) Marketing Mix (4Ps):
- Product: 1436 needs to develop a unique product portfolio that reflects its brand identity and appeals to its target market. This includes focusing on high-quality materials, craftsmanship, and design elements that resonate with Chinese culture.
- Price: 1436 needs to establish a pricing strategy that positions it as a luxury brand while remaining competitive. This might involve a premium pricing strategy, but also consider offering more accessible entry-level products.
- Place: 1436 needs to develop a distribution strategy that reaches its target market effectively. This could include a mix of physical stores, online platforms, and partnerships with luxury retailers.
- Promotion: 1436 needs to create a strong brand identity through effective marketing communications. This could involve targeted advertising campaigns, social media marketing, influencer collaborations, and public relations efforts.
4. Recommendations
- Build a Strong Brand Identity: 1436 needs to clearly define its brand identity and communicate it effectively to its target market. This involves developing a unique brand story that resonates with Chinese consumers and highlights the brand's cultural heritage, craftsmanship, and commitment to quality.
- Target the Right Market: 1436 should focus on a specific target market within the luxury segment. This could include young, affluent Chinese consumers who are interested in both luxury and Chinese culture.
- Leverage Digital Marketing and E-commerce: 1436 should embrace digital marketing and e-commerce to reach its target market effectively. This includes developing a strong online presence, utilizing social media platforms, and partnering with online retailers.
- Embrace Innovation and Product Differentiation: 1436 should focus on innovation and product differentiation to stand out from the competition. This could involve developing unique designs, incorporating sustainable materials, or offering personalized experiences.
- Build Strategic Partnerships: 1436 should explore strategic partnerships with other brands, retailers, or influencers to expand its reach and build brand awareness.
- Develop a Robust Customer Relationship Management (CRM) System: 1436 should invest in a CRM system to manage customer data, track customer interactions, and personalize marketing efforts.
- Focus on Customer Experience: 1436 should prioritize customer experience across all channels, from online interactions to in-store experiences. This includes providing excellent customer service, offering personalized recommendations, and creating a unique brand experience.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of 1436's strengths, weaknesses, opportunities, and threats. They are also aligned with the current trends in the luxury market, including the growing importance of digital marketing, the increasing demand for Chinese brands, and the need for innovation and product differentiation.
1. Core Competencies and Consistency with Mission: The recommendations align with 1436's core competency in understanding the Chinese market and its mission to create a pure Chinese luxury brand.
2. External Customers and Internal Clients: The recommendations address the needs of external customers by focusing on brand identity, target market, and customer experience. They also consider the needs of internal clients by emphasizing innovation, product differentiation, and strategic partnerships.
3. Competitors: The recommendations acknowledge the intense competition in the luxury market and aim to differentiate 1436 from its competitors by leveraging its unique cultural heritage, embracing digital marketing, and focusing on innovation.
4. Attractiveness: The recommendations are expected to lead to increased brand awareness, market share, and profitability. While quantifying these measures requires further analysis, the strategic approach outlined is likely to yield positive results.
Assumptions:
- The Chinese luxury market will continue to grow in the coming years.
- 1436 can successfully leverage its cultural heritage to create a unique brand identity.
- 1436 can effectively utilize digital marketing and e-commerce to reach its target market.
- 1436 can develop innovative products that stand out from the competition.
6. Conclusion
1436 has the potential to become the first pure Chinese luxury fashion brand by embracing a strategic approach that leverages its unique cultural heritage, embraces digital marketing, and focuses on building a strong brand identity. By implementing the recommendations outlined above, 1436 can establish itself as a leading player in the luxury market and achieve its ambitious goals.
7. Discussion
Alternatives:
- 1436 could focus solely on the domestic Chinese market, avoiding international expansion.
- 1436 could prioritize physical stores over online platforms, relying on a traditional retail model.
- 1436 could focus on a broader target market, aiming to appeal to a wider range of consumers.
Risks:
- 1436 may face challenges in establishing brand recognition and credibility.
- 1436 may struggle to compete with established luxury brands in terms of brand equity and heritage.
- 1436 may encounter difficulties in scaling production and distribution.
Key Assumptions:
- The Chinese luxury market will continue to grow at a significant rate.
- 1436 can successfully leverage its cultural heritage to create a unique brand identity.
- 1436 can effectively utilize digital marketing and e-commerce to reach its target market.
Options Grid:
| Option | Pros | Cons |
|---|---|---|
| Focus on domestic market | Lower risk, easier to build brand awareness | Limited growth potential |
| Prioritize physical stores | Strong brand experience, direct customer interaction | High costs, limited reach |
| Broader target market | Larger potential customer base | Difficult to differentiate, potential for brand dilution |
8. Next Steps
- Develop a detailed brand strategy: Define the brand's mission, vision, values, and target market.
- Create a comprehensive marketing plan: Outline marketing objectives, strategies, tactics, and budget allocation.
- Develop a product roadmap: Identify new product lines, design elements, and materials.
- Establish a distribution strategy: Determine the optimal mix of physical stores, online platforms, and partnerships.
- Implement a digital marketing strategy: Develop a website, social media presence, and e-commerce platform.
- Build a strong customer relationship management system: Collect customer data, track interactions, and personalize marketing efforts.
- Monitor and evaluate progress: Regularly track key performance indicators and adjust strategies as needed.
By taking these steps, 1436 can position itself for success in the competitive luxury market and achieve its goal of becoming the first pure Chinese luxury fashion brand.
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Case Description
The case traces the birth of 1436, a new luxury brand specialized in cashmere garments. It describes how this venture emerged organically out of a combination of manufacturing and retail expertise with the ambition of creating the first pure Chinese luxury brand. The brand name was inspired by the measurement of superfine baby cashmere fibre (14 micrometers in diameter and 36 millimeters in length). It is estimated that only 2 out of 1,000 grams of cashmere measure up to the standard of 1436. Describing the brand evolution over its first 8 years of existence, the case allows for an exploration of the challenges associated with creating a luxury brand and reconciling several strategic imperatives: the need to build a strong and desirable brand identity, grow the business but also protect the brand integrity and exclusivity. The case also provides an opportunity to discuss the benefits and challenges associated with being 1) a luxury brand "made in China" and 2) a category specialist (cashmere). As Jane Wang, 1436's founder and CEO, looks to the future, she has to decide what to do to establish 1436 as a recognized luxury brand on a global scale.
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