1. Define the business mission
Kit and Ace, created by the founders of Lulu Lemon, is a high-end clothing line redefining the world of street wear. This clothing lined is geared towards both men and woman who aspire for comfortable, stretchy clothing that is also work environment appropriate. Clothing designs are relatively simple with a heavy emphasis on achromatic fabrics. However, it’s not necessarily the style aspect that is luring in costumers, rather it’s their material. Kit and Ace is known for their “technical cashmere” which the founder states as “melds the needs of the body to the demands of it’s environment”. This new and creative concept offers luxury clothing at high price points ranging from $50-$400. As a result, the typical …show more content…
With the overall patterns of modern day retail strategy, they figured online retailing would lead them to the upmost success.
Kit and Ace plan to dominate the athleisure market side by side with Lulu lemon. Although they have different product strategies, they plan to grow to have as much brand recognition as their sister company. When people think fitness attire, Lulu lemon is often the first to come to mind. Eventually, when one thinks multi purpose clothing, Kit and Ace will be the first to come to mind.
Further down the road, Kit and Ace will expand to offer a bigger variety of clothing items that are still in line with their overall product strategy. They will also continue to focus on brand marketing so that overall brand awareness is increased. It is still a relatively small brand, but by utilizing social media platforms for marketing and promotions Kit and Ace can increase their presence in our current market.
2. Conduct a situation …show more content…
Although Kit and Ace has trade marked and branded their fabric “technical cashmere”, other retailers will find ways to create and label similar materials. Not only will other retails start to produce similar products, but they will take advantage of Kit and Ace’s high price points and market their own yet similar products for a much more affordable price point. Competitors who have a brick and mortar presence will also bring more competition because consumers will have the ability to touch and feel their products unlike Kit and
Kit and Ace, created by the founders of Lulu Lemon, is a high-end clothing line redefining the world of street wear. This clothing lined is geared towards both men and woman who aspire for comfortable, stretchy clothing that is also work environment appropriate. Clothing designs are relatively simple with a heavy emphasis on achromatic fabrics. However, it’s not necessarily the style aspect that is luring in costumers, rather it’s their material. Kit and Ace is known for their “technical cashmere” which the founder states as “melds the needs of the body to the demands of it’s environment”. This new and creative concept offers luxury clothing at high price points ranging from $50-$400. As a result, the typical …show more content…
With the overall patterns of modern day retail strategy, they figured online retailing would lead them to the upmost success.
Kit and Ace plan to dominate the athleisure market side by side with Lulu lemon. Although they have different product strategies, they plan to grow to have as much brand recognition as their sister company. When people think fitness attire, Lulu lemon is often the first to come to mind. Eventually, when one thinks multi purpose clothing, Kit and Ace will be the first to come to mind.
Further down the road, Kit and Ace will expand to offer a bigger variety of clothing items that are still in line with their overall product strategy. They will also continue to focus on brand marketing so that overall brand awareness is increased. It is still a relatively small brand, but by utilizing social media platforms for marketing and promotions Kit and Ace can increase their presence in our current market.
2. Conduct a situation …show more content…
Although Kit and Ace has trade marked and branded their fabric “technical cashmere”, other retailers will find ways to create and label similar materials. Not only will other retails start to produce similar products, but they will take advantage of Kit and Ace’s high price points and market their own yet similar products for a much more affordable price point. Competitors who have a brick and mortar presence will also bring more competition because consumers will have the ability to touch and feel their products unlike Kit and