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7 million to 880 million in net income 2012 direct-to-consumer accounted for 87% of 2011’s net sales, indirect wholesaler had net sales of 540 million
Defining characteristics of the industry/what is the industry like includes many competitors, growing demand as middle class and upper class expand, diversity in luxury products (using your brand name and attaching it to other products/lines i.
e., men’s products for coach).
The market doesn’t seem to be changing very much, maybe expanding as more money and other countries are becoming wealthier (India). Drivers of change are new internet capabilities and applications, product and marketing innovation, changing societal concerns, attitudes, and lifestyles Different wants handbags for the more on the go lifestyle, environmentally friendly bags/processes.
KFSs are: diverse products, ahead of trends (fashion), marketing research, lower price point than competition, brand loyalty/recognition/awareness
Many competitors in the luxury goods industry. Strongest of the five forces I believe is rivalry, competitive pressures come from other firms in the industry, competitors numerous equal size and competitive strength, face high exit barriers, diverse countries of origin Weakest of the five forces I believe is potential new entrants, because brand recognition is so important in the industry Industry’s potential for profitability is high, markets are large and expanding, their sales are already high etc.
The three main categories: haute-couture, traditional luxury and accessible luxury The first two are not where Coach competes but where some of its competitors are, where they have created other product lines that compete in the accessible luxury category. DKYNY, Calvin Klein, Louis Vuitton, (last two created diffusion lines) are competition in the accessible luxury category
Follow their current plans and strategies to open up and pursue growing markets to improve market performance, and increased market share will help their competitive position.
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