Client was a multi-billion dollar apparel company with brands at moderate price point that were being commoditized due to lack of product innovation, lack of brand differentiation, and a slow migration to lower-end channels
Client sought to identify new growth platforms and identify acquisitions to fill missing niches in their portfolio and to enter higher-end department stores and specialty stores
Client’s portfolio of brand, while well-recognized, did not have permission to play in the higher end of the women’s and children’s apparel market
What's our approach?
Consulting team led a two-pronged approach to (1) understand the macro-trends and demands that were impacting the target consumer while (2) simultaneously conducting a detailed assessment of the competitive market place and documenting consumers’ perceptions of the current brands in the market and unsatisfied or growing areas of consumer need
Led Board and management team through a three month strategic planning effort
Show your work: the results
Research and analysis revealed that the higher-end women’s casual apparel and higher-end children’s apparel market were growing quickly, and consumers were willing to pay a premium for quality of construction, modern styling, and great fit
Study also revealed that none of the current brands in the portfolio had permission to play in the better/best price point segment of the market (Client wanted distribution into the higher-end department stores and specialty stores).
Study led to the rationale for purchasing Vince and Hanna Andersson
New strategy resulted in the successful sale of Kellwood to Sun Capital