Purpose

The fourth and the last Pillar is Purpose. Purpose is why something exist or been created. Fashion is a dynamic, ever-changing behaviour of style that includes clothing, accessories, and trends, and it represents a society’s collective imagination and cultural identity. It is a strong form of self-expression and creativity, affecting how individuals represent themselves to the world and shaping ideas, developing confidence, and celebrating the diversity of human personalities, this is why fashion exist. Similarly, each brand serves a distinct purpose.

A brand’s philosophy comprises its mission, vision, and value proposition, all of which furnish it with distinct trajectory and intention. It is critical as it facilitates the establishment of a brand’s identity and distinguishes it from rivals, enabling consumers to comprehend the brand’s mission and the products or services it provides. The mission of a brand refers to what is inherent in it, such as the core of the brand being to deliver value and services to certain groups and the brand’s uniqueness. The term “vision” relates to long-term ambitions, such as the brand’s role in the industry, as well as the effect and improvements it will bring to consumers. The value proposition refers to what brands value and what behaviours or decisions brands will employ to illustrate their value proposition and compatibility with consumers.

Take Miu Miu as an example, the brand ranked fourth among the hottest brands in the second quarter of 2023 (The lyst index Q2 2023 2023). Its uniqueness is that it exists as a creative outlet for Muiccia Prada’s personal vision, so Miu Miu’s design is completely different from Prada. Miuccia Prada and Patrizio Bertelli said that we must be agents of change and have the flexibility to translate the needs of the market and society into tangible actions that guide the way we do business (Prada, 2023a). Miu Miu has always expressed its brand philosophy through independent and unconventional designs. They critically investigate the role of women in contemporary society and intuitively interpret their endless complexities and contradictions. Miu Miu Women’s Tales are a series of short films created by contemporary international female directors (Prada, 2023b). A series of short films titled “Venice Days” exhibited in collaboration with the Venice Film Festival depict Miu Miu’s collections adorning the bodies of the women who wear them (Prada, 2023b). The Miu Miu 2024 spring and summer series is also responding to modern aesthetics and challenging the traditional aesthetics that the public believes.

Over time, Gen Z values unique and authentic items that stand out, not just name brands, so this has made each brand more focused on offering products that express their personality. Brands will also use narratives that align with Generation Z’s values and aspirations, such as creating social platform accounts or opening pop-up stores. Brands will emphasize their heritage and history in different ways because today’s Generation Z prefers brands with rich heritage and stories to tell (Mitterfellner, 2023).

References

Lyst Insights (2023) The lyst index: Fashion’s Hottest Brands and Products Q2 2023, Lyst Insights. Available at: https://www.lyst.com/data/the-lyst-index/q223/ (Accessed: 28 October 2023).

Prada (2023) Purpose and values, PradaGroup. Available at: https://www.pradagroup.com/en/group/manifesto.html (Accessed: 28 October 2023).

Prada (2023b) The Prada Group and cinema: Prada Group, PradaGroup. Available at: https://www.pradagroup.com/en/perspectives/stories/sezione-progetti-speciali/prada-group-cinema.html (Accessed: 28 October 2023).

Mitterfellner, O. (2023) e-book Luxury Fashion Brand Management : Unifying Fashion with Sustainability(chapter 3), https://ebookcentral.proquest.com/. Available at: https://ebookcentral.proquest.com/lib/ual/reader.action?docID=7260416&ppg=77 (Accessed: 28 October 2023).