Critical Evaluation of Luxury Brand Stores: Saint Laurent and BalmainAbstract

Published: 2019-06-25 08:30:00
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Modernization and technological development in the society comes with various benefits to the business environment and mostly in the fashion industry. However, modernization also comes with some challenges that require keen analysis so enable successful business activities in the dynamic market environment. Fashion industry relates directly with the modernizations and the changes in the society have great effects to the mode of dressing. This is evident in the analysis of the evolution Saint Laurent and Balmain firms in the fashion industry (Dion, 2015). To aid in the understanding the genesis of the two firms, there is need to carry out holistic analysis of the two firm and put great focus on issues such as market position, heritage, and DNA. This paper also aims at analyzing both brands regarding the brand message and communication through touch points and the identification of the coherent message that improve the innovation in the company and ensure that there is a sustainable success in the firms. Finally, this work plans to analyze the impact of identity prism in the operation of the firms, interpret the findings and identify recommendations that other players in the same industry can use to improves and develop the industry to match the high-quality standards of the fashion industry.

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Introduction

Brand stores are a collection of products in the market where a retailer strategically brands the products using a single identity. In this manner, the products bear a single similarity for the products that are manufactured by the same firm and create an identity in the market. There are various brand products in the market and which helps in meeting customer demands tastes and preferences (Kim, 2012, p107). The brand products serve to maintain customer loyalty as this helps in eliminating the challenges of counterfeiting of products in the modern society. There are several classifications of store brands in the market, and some of the common examples include the private label brands in the United States, own brands in the United Kingdom, home brands in Australia, the generic brands among others. Store brands are maintained by a sole retailer who deals with a single line of products having a specific chain of store in the market.

Due to the similarities of the brand stores in the market, there is needed to evaluate the major common stores in the market to understand the operational principle of each. Saint Laurent and Balmain brand stores are internationally recognized brand stores that deal with the general array of luxury items and the operation principle of the stores serve to prove the success of the stores in the dynamic modern market (Li, 2012, p41). In this light, there is need to holistically analyze the operations in both stores to aid in the understanding of the marketing strategy that helps in promoting the success of the firms. Moreover, there is need to analyze the management strategy of the firms in effecting the operational initiatives that help in ensuring the success of the organizations.

Saint Laurent market position, heritage, and DNA

Yves Saint Laurent uses the logo YSL in the marketing strategy as this is a well-known logo that helps in attracting customers in the market. The YSL logo applies to various accessories among them being cosmetics, handbags, shoes among others. The logo is, therefore, a chief marketing tool as it helps in the identification of the product in the market making the products of the company sell and fulfill the objectives of the organization (Karp, 2012, p90). Moreover, the firm uses an online store that seeks to increase the sales of the products in the society and help in reaching out to the younger generations that relate quite well with the online store. Additionally, the market position and the heritage of the firm results from the strategies that it uses to tackle counterfeiting of their products by other firms. This enables the company to manufacture of high-quality products helps to maintain customer confidence in the products and services that the company manufacture.

The main boutique of the firm was opened in the year 2013 and for the company to maximize on the marketing of the products and maintain the heritage of originality of the company; the company replaced the gold color scheme with a monochrome interior. Additionally, the company introduced various materials in the marketing line such as the nickel plates bars and marble (Kim, 2014, p133). The introduction of such products and the changes in the color scheme was in the best interest of the firms with the main aim being the marketing strategy. The concept used in the Paris flagship boutique was applied in the renovated Beverly Hills boutique and the new London boutique on the Sloane Street. Moreover, the changes in the stores were also introduced in the new stores in the United States.

The introduction of the mens store in the year 2013 also helped in increasing the sales of the firm and helped in marketing the companys products for the males. The San Francisco store is a full-line store that seeks to offer a wider collection of products to the society and to meet the needs of a divergent customer base. In this light, Saint Laurent uses the uniqueness of the products and the wide range of products to fulfill the marketing agenda and help in increasing the sales of the firms (Lysonski, 2013, p312). The growth of the stores in the United States shows an increase in the growth and development of the company due to the plans of the company to expand the operations in the United States.

Balmain market position, heritage and DNA

Balmain borrows its heritage in the fashion industry from the founder of the firm Pierre Balmain, who had a great interest in art and fashion and set up the company with rich skills in the design of the fashion. The era of Haute Couture helped in the development of the heritage in Bailamn as it helped the founders and the founding worker in the firm to acquire great skills in the designing of a collection of fashion that best suits the modern woman. In this manner, Balmain seeks to penetrate into the fashion industry dealing with the women ware as opposed to Saint Laurent that deals with the general fashion. The Haute Couture helps in maintaining the heritage of Balmain which helps it to maintain its marketing positions due to the adoption of fashion that is made by hand for explicitly one individual (Van, 2014, p22). In this manner, the fashion that Balmain adopts ensures that the clothing manufactured helps in meeting the specifications of the individual. This fashion is very challenging and takes thousands of man-hours to make one dress.

Couture originated in Paris and targeted the high-end customers. In this manner, Balmain seeks the wealthy women in the society who have great taste in fashion. The second difference between Saint Laurent and Balmain is that Balmain manufactures customized products and puts great interest in the color and fabric of the products. On the contrary, Saint Laurent focuses on the expansion of the customer base, and this ensures that the firm manufactures a wide range of products to satisfy the varying need of the society (Moschis, 2011, p45). Balmain manufactures luxury products that best suits celebrities due to the high standards of couture that it maintains due to the high standards of exuded elegance and simplicity that have stood the test of time. The marketing position of the company is also due to the celebration of the human form in the manufacture of the products due to the customization of the products to match the customers. Additionally, aesthetic concept to create easy and glamorous looks of the products helps in creating easy and glamorous looks with radiated style without being ostentatious.

Saint Laurent brand message and communication

The opening of several branches across the world helps in effecting communication to a wide customer base due to the expansive market for the products of the company. The firm, therefore, disseminates the brand message that there is uniqueness in the manufacture of the products and that there is great interest in meeting the demands that arise due to diversity in the market. In this manner, the message of the firm is to use fashion in promoting diversity of the society and to unify the diverse needs of the population. The firm has boutiques in various parts of the world among them Africa, Asia, Europe, America and this helps to meet the needs of the various culture of different societies in the world (Huang, 2012, p201). The wide customer background serves as the main interest in the production process of the firm as it serves as an avenue through which the company develops maximizes the use of creativity in the production of the fashion that embraces the different cultures in the society.

Balmain brand message and communication

Balmain has the brand message of specialization and uniqueness in the products of the company, and they disseminate the brand message through the use of elegant and high-quality products in the society. The brand message of Balmain differs sharply with the brand message of Saint Laurent that focuses on the diversity of the products in the society. As Saint Laurent focuses on encouraging diversity in the designing and the sale of fashion ware, Balmain focuses on specialization and uniqueness and proves that that diversity in the society means that every society and culture is unique in its way. Through the high degree of specialization, Balmain attracts a customer base that gives great focus on the purchase of unequaled products to and who give keen interest in creating a personal brand name (Aaker, 2012, p255). In this manner, Balmain serves to meet the tastes and preferences of individuals that seek to conform to an unequaled social status and maintain their social class.

Identity prism in Balmain The success in Saint Laurent and Balmain in the fashion industry can be explained regarding their conformity to the Kapferer's Brand identity prism. There are various ways in which Balmain conforms to the identity prism. First, with regards to the physique factor in the prism, the company has managed to create legendary products in the designing of the customized clothing, moreover, the company seeks to maintain the production of classic products. In personality factor, the product creates satisfaction and it makes the customers to stand out from the rest, it therefore makes the customers to have ease of reaching the products due to the availability of several boutiques across the globe. Balmain also makes use of the third factor, relationship, where it encourages community involvement and encourages community development, there is greater proximity to the products of the company as compared to the proximity of the products of Saint Laurent (Moschis, 2011). The fourth factor which is culture helps in encouraging the success of Balmain in that it creates a type of lifestyle that people like to conform to. Moreover, the French values and the Haute Couture helps in increasing sales for the products. Moreover, the reflection factor helps Balmain in attraction a wide range of customers ranging from the young and the aged, team spirited and the market segment that is interested in purchasing from the top brands in the market. Finally, the self-image factor in the identity prism helps improving communication between the company and the consumers, creates push boundaries and makes the company more social and attracting huge number of customers.

Identity prism in Saint Laurent

The physique factor in Saint Laurent is the YSL logo that helps in the identification of the product in the market. The second factor, pers...

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Critical Evaluation of Luxury Brand Stores: Saint Laurent and BalmainAbstract. (2019, Jun 25). Retrieved from https://speedypaper.com/essays/critical-evaluation-of-luxury-brand-stores-saint-laurent-and-balmainabstract

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