Salt Studio Fashion Brand
This paper maps the strategy of introducing Salt Studio women’s fashion brand to Australian market. This brand is unique because of the customer group it targets. Young women who love spending time at home and surround themselves with cozy things do not often get into the focus of fashion brands. The stereotypic view is that all young women have active lifestyles. However, this customer group exists and they often have a plenty of disposable income. Salt Studio brand was created to meet their needs in a more effective way than any current brand does. In case of success, we will capture a promising market niche and build a loyal audience for many years.
Market Overview
The clothing retailing industry in Australia was $13 billion in 2014. The sales of women’s upper-middle segment clothes and accessories sales were about $895 million. About 40 percent of this market segment is occupied by four largest brands – Alpha 60, Acne Studios, Dion Lee, and Alexander Wang (IBISWorld, 2015).Alpha 60 positions itself as a brand “inspired by change and a rebellion against the status quo” (Alpha 60, 2015). Their collections can be defined as “sophisticated quirk.” This brand is purely Australian.
Acne Studios is a Swedish brand that produces men’s and women’s clothing, footwear and accessories. They sell practical and comfortable clothing that does not follow a clear concept. Australia is one of many markets for them, and they do not do any localization.
Dion Lee and Alexander Wang are both personal brands of famous designers. Dion Lee is distinctive for sharply structured, architectural forms. Alexander Wang merges classic silhouettes with provocative details in urban street style. Both mostly target young audiences.All prominent brands in this market have well-developed online stores. Online retail in Australia is growing much faster than traditional channels. In women’s fashion, it has already become a primary vehicle of growth (IBISWorld, 2015)Customer OverviewThe target customer is a woman aged 20-40 who lives in Australia, in a big city. She can be a student, a young full-time mother, or a professional woman in a well-paid job. She has a college or university degree. Her disposable income is above average. She is single or lives with a partner in an own or rented apartment. She might have one or two small children. She regularly exercises to keep her body healthy.
This woman has a strong home life and loves to create a comfortable environment for herself. She fills her home with beautiful and harmonic pieces. Her home is the place where she can relax and fully enjoy her life. In clothes, she looks for a union of aesthetics and comfort. Both are equally important; she would rather not sacrifice one for another. She is not much into excessive spending but ready to pay a decent price for a high-quality item. Her ideal brand combines fashion, convenient shipping, reasonable price, and comfort. She would rather buy all her …
