Competitors (direct) 1. Louis Vuitton -It’s the one of the most famous luxury brand in the world, Louis Vuitton always trying to target itself as timeless and fashionable. The brand focus on quality and new style instead of reducing the brand value during the recession period. Louis Vuitton’s overall brand value went up 2 percent to $19.78 billion. Strength:
Louis Vuitton is one of the oldest fashion brand with history of more than 150years ,and they have international logistics center around the world to make sure high efficience,and they have huge amount of loyal customers in Asia, Europe and US
LV has no …show more content…
Rolex - The luxury watchmaker, along with other high-end jewelry makers, suffered greatly throughout the recession. Rolex’s overall brand value went down 14 percent to $4.74 billion.
7. Cartier - The Richemont-owned brand reported lower sales throughout its own boutiques and to third party retailers. Cartier’s overall brand value decreased 19 percent to $3.96 billion.
8. Fendi - Well-known for its collection of “It” bags in the U.S., Fendi has a huge luxury presence in Asia. LVMH is looking to reposition the brand. The brand’s overall value went down 8 percent to $3.2 billion.
Indirect competitors strength and weakness
Strength:They all are fashion leaders in watch,Apparel and Accessories markets their brand image strongly established as a premium luxury brand and excellent advertising and branding by associating itself with celebrity brand ambassadors
Weakness: Counterfeit and fake imitations affect the brand image and investments in research and development are very high ,thus future profitability is a major concern.
9. Tiffany & Co. - The luxury jewelry maker did not even rank on Millward Brown’s list last year, but its brand value increased 6 percent to $2.38 billion. Tiffany & Co. plans to expand in both Asia and Western