Alexander McQueen is a luxury fashion house so many of it's pieces range from $300 to almost $20,000. The target customer would be women between the ages of 25-35 who have high incomes and can afford to purchase designer clothing. The brand does have some competition with labels such as Stella McCarthy, who uses similar silhouettes, and Chanel, who uses the same marketing strategy by creating short films, featuring their collections, to post on youtube to attract customers. In an effort to broaden it's audience, McQueen created the line McQ on July 27 2006. A more affordable line designed entirely by Alexander. The idea was to target a more youthful audience that didn't have the means to buy his higher end designs.
In 2000 the multi-brand luxury goods company Gucci Group acquired 51% of McQueen's company. They appointed him creative director and gave him free reign to do as he pleased with his runway shows, which gave him an advantage over many other designers. Alexander McQueen runway shows are probably it's best marketing tool. In his Fall 2006 show, he had a life-sized hologram of Kate Moss walking down the runway. Not only does the brand have some of the biggest popstars in the world, such as Lady Gaga and Beyonce, wearing it's clothes in music videos, it perhaps
received the biggest publicity it has ever gotten when Kate Middleton wore an Alexander McQueen wedding dress, designed by Sara Burton, for her marriage to Prince William. After months of speculation of who would be designing her wedding dress and campaigns from multiple designers, it was ultimately McQueen that was chosen. The dress and the brand was in every newspaper and magazine around the world. Those are some of the competive advantages Alexander McQueen has over other luxury brands.
No comments:
Post a Comment