Chanel Analysis Swot, 6 P’s
Chanel Analysis Swot, 6 P’s
TABLE OF CONTENTS
Introduction
From Coco to Karl – A Legend lives on
The 6 P??™s
Product
Price
Place
Promotion
People
Positioning
Benchmarking
SWOT-Analysis
Micro economical analysis
Macro economical analysis
Recommendations
Conclusion
INTRODUCTION
Elegance, wealth, high class and originality; these are the first words which come to mind, when thinking of Chanel.
We as a group decided to choose Chanel as our subject, because of several reasons and questions that came to our mind. We strive to find out what the image of this brand is like today (classical, dusty or modern), and what Chanel has been doing to constantly promote the image of the label?
It is commonly known that Chanel, impersonated by its famous female founder and designer Coco Chanel, has over time evolved into being a huge fashion empire which is irreplaceable for the development of the fashion branch in the 20th century.
From Coco to Karl – A Legend lives on
COCO CHANEL
In 1912 Coco ???Gabrielle??? Chanel (1883-1971) founded the label bearing her name in Paris, France (Rue de Cambon) . Coco Chanel was one of the first fashion designers in her country as we know them today. She revolutionized female fashion first and foremost with the famous ???Little Black???, the replacement of the Corset. Also trousers and the classical tweed (tweed as a garn was a revolution of the used materials) became socially acceptable thanks to Coco.
After the successes in designing clothes, Coco Chanel decided to enter other markets: fragrances and jewellery. She launched her first and worldwide most successful fragrance called Chanel No.5 as well as the first Chanel jewellery collection .
Due to a lack of financial liquidity, she was forced to enter a corporation with the Wertheimer family in 1924. As a result of this the Wertheimer family soon controlled some 70 % of the Chanel Company, Coco herself owned only 10%, the remaining 20% were held by a friend of Coco Chanel . 30 Years later the Wertheimer family even owned and controlled the whole company.
During the Second World War, Coco Chanel closed her couture house and only her fragrances and accessories were sold in the Chanel boutiques .
After the re-opening of the haut-couture shop in Paris, Chanel introduced the famous quilted bag to the world of accessories in 1955. The innovations of this bag were the used materials and straps which had not been common on handbags before. Chanel was looking for practicality when she was designing. Women of the time should have both hands free to hold a glass of champagne as she would have put it.
Both of these features made the Chanel bag unique and even when Karl Lagerfeld relaunched the bag called 2/55 (named after the historical date of product launch)50 years later having changed the materials (e.g. patent leather) and colours (e.g. yellow beige) it was a huge success.
Two years later, in 1957, Coco Chanel received a Fashion Award for her spring collection and was celebrated as the most influential designer of the twentieth century.
Until her death in 1971, Coco was working as a designer for Chanel .
Even after her death, her legacy greatly influenced the company. In 1978, the first pr??t-? -porter collection was designed and launched.
KARL LAGERFELD
In 1983 a new era of Chanel began by employing of Karl Lagerfeld as the art director for haut-couture, pr??t-? -porter and accessories, while the fashion label had almost been forgotten, Chanel was at the time only known for the perfumes .
Lagerfeld kept the classical line and additionally created more modern clothes, skirts became shorter and new materials were used. Furthermore new products like watches (1987) and cosmetics (1999) were introduced.
ART MOBILE CONTAINER
The most innovative development of Karl Lagerfeld in his work for Chanel was the building of the Art Mobile Container in 2008, which was started in Hong Kong