The business plan that I chose to examine is Lucky Brand Jeans, which is a denim company founded in Vernon, California. Lucky Brand currently has over 209 stores in America. In December 2013, Leonard Green and Partners acquired Lucky Brand from Fifth and Pacific. Lucky Brand mission statement is that they are culturally innovative and are committed to providing high-quality denim. It is a brand that helps express your own personal style with charm and a hint of rebellion.
The analysis that I conducted for Lucky Brand will explain the strength, weakness, opportunities and threats in regards to a sound business plan. The SWOT analysis that I conducted will provide information about the overall business model, the issue the company may encounter …show more content…
One of the main weakness is marketing. Lucky Brand has a limited marketing plan. The only marketing strategy Lucky Brand offer is through the high-end fashion magazine. With this being the digital age, a lot of consumers are looking at fashion magazine either online now or through fashion blogs. In order to remain in the competition, Lucky Brand needs to advertise through billboards and media. Another weakness that I found while researching the company is the price point compared to Levi 's, American Eagle, and Gap. Even though the consumer is looking for quality, some customer are not willing to pay for $100 for one pair of jeans. In my opinion, in order to stay competitive Lucky Brand should offer products that are reasonably …show more content…
The first opportunity would be to expand the product line for plus-size women and big and tall men. By expanding in that market, it will give the company a broader range with the consumer. The second opportunity would be to create a solid marketing platform. Advertising is the key to a company success. In my opinion, advertising through social media is a great way to get the company name out in the public eye. That way the consumer will be more inclined to go to the store and see what the company has to offer. The third opportunity for the company is to offer more denim styles and length in the retail stores. In my perspective, I think this will give the company an advantage as most retailer only offer one length. After further research, Lucky Brand does offer a wide variety of style and length from the online store, but the majority of consumers do not shop online for clothing without being able to try them on
The analysis that I conducted for Lucky Brand will explain the strength, weakness, opportunities and threats in regards to a sound business plan. The SWOT analysis that I conducted will provide information about the overall business model, the issue the company may encounter …show more content…
One of the main weakness is marketing. Lucky Brand has a limited marketing plan. The only marketing strategy Lucky Brand offer is through the high-end fashion magazine. With this being the digital age, a lot of consumers are looking at fashion magazine either online now or through fashion blogs. In order to remain in the competition, Lucky Brand needs to advertise through billboards and media. Another weakness that I found while researching the company is the price point compared to Levi 's, American Eagle, and Gap. Even though the consumer is looking for quality, some customer are not willing to pay for $100 for one pair of jeans. In my opinion, in order to stay competitive Lucky Brand should offer products that are reasonably …show more content…
The first opportunity would be to expand the product line for plus-size women and big and tall men. By expanding in that market, it will give the company a broader range with the consumer. The second opportunity would be to create a solid marketing platform. Advertising is the key to a company success. In my opinion, advertising through social media is a great way to get the company name out in the public eye. That way the consumer will be more inclined to go to the store and see what the company has to offer. The third opportunity for the company is to offer more denim styles and length in the retail stores. In my perspective, I think this will give the company an advantage as most retailer only offer one length. After further research, Lucky Brand does offer a wide variety of style and length from the online store, but the majority of consumers do not shop online for clothing without being able to try them on