Ella Ieong

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Purpose

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As part of the fourth pillar, the brand’s purpose will be discussed. A brand purpose is a company’s “why” – its reason for being and the things it stands for (Qualtrics, 2023). Therefore,  it’s really important that a brand should have a clear and appealing brand purpose in order to tell consumers why this brand exists and find their perfect target customers to make profit. 

A brand philosophy which includes the brand’s vision, mission and value proposition are key elements that help to state and prove a brand’s purpose. If a brand has a perfect brand philosophy, this can clearly define the brand’s identity, telling the audience what they stand for and letting consumers understand their unique selling point which helps to separate themselves from their competitors (Burrleese, 2023). When people hear “Just Do It” their first reaction will always be the slogan of the brand Nike, proving how successful Nike has shown their brand purpose to the audience . This helps to push individuals to pursue their aspirations and goals, regardless of any impediments they face and let customers have a clear mind set that what products and services they can get from Nike, result in having a good customer interaction, corporate social responsibility and brand identity (Harvestr, 2023). Moreover, brands with a well-defined philosophy will have a more stable and long-term sustainability. A satisfied brand philosophy can not only attract consumers to purchase with the brand. On the other hand, employees working for the brand will also be motivated, as they know the brand has a professional roadmap that can lead them to the right path and stay nearer to the target goal of the company (Marketing91, 2023). 

GenZ as the largest generation on Earth, their opinion is always important and can give different brands a good reference value. Therefore, brands nowadays are working hard on how to catch attention from GenZ and purchase their products. How did they communicate their purpose to the GenZ ? First of all, the use of social media, GenZ is very active on social media sites like Twitter, Instagram, TikTok, Snapchat, and Facebook etc. These platforms should be used by brands to communicate their brand mission and vision through interesting and eye-catching content, for example,posts, videos, and tales that demonstrate the brand’s commitment to its goal (McKinsey Company, 2023). Nevertheless, collaborations with influencers, celebrities and artists can also increase the probability of their brand being shown by the GenZ. For example, the collaboration of Nike with famous singer Billie Eilish, Billie Elilish as one of the biggest artists among GenZ has 25 million social media followers. This can help Nike to increase their brand uniqueness awareness and exposure, GenZ will be more willing to pay attention or buy Nike because of Billie Eilish. All of this result can be evidence that Bike has done a successful communication to present their brand purpose to GenZ and satisfied more GenZ consumers. 

Reference

Bhasin, H. (2019). What is Brand Philosophy? What is the Importance of Brand Philosophy? [online] Marketing91. Available at: https://www.marketing91.com/brand-philosophy/. 

Huang, V. (2023). Craft Your Unique Selling Proposition (USP). [online] blog.harvestr.io. Available at: https://blog.harvestr.io/usp. 

McKinsey (2023). What is Gen Z? [online] www.mckinsey.com. Available at: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z. 

musicalyst.com. (n.d.). Gen Z Singer-songwriter artists and listeners — Musicalyst. [online] Available at: https://musicalyst.com/genre/gen-z-singer-songwriter  [Accessed 29 Oct. 2023].

Nolden, C. (2022). Why Brand Purpose is More Important Than Ever! | Burrelles. [online] Burrelles. Available at: https://burrelles.com/why-brand-purpose-is-more-important-than-ever/. Qualtrics. (2023). What is Brand Purpose? The Complete Guide. [online] Available at: https://www.qualtrics.com/uk/experience-management/brand/brand-purpose/.

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Profit

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Profit will be the third to introduce the fashion industry pillar. The term “profit” means the financial earning and gaining for a fashion brand or company, and it’s calculated by deducting all expenses and costs from the brand’s total revenue. The data of a brand or firm’s profit can reflect their successfulness and also sustainability of the business. And these data can always be evidence to prove a brand and attract more consumers to purchase. Fashion industry is one of the biggest industries in the world. The revenue of the global apparel market was calculated to amount to 1.53 trillion U.S. dollars in 2022. However, revenue was forecast to increase in 2023, to more than 1.7 trillion dollars (Statista, 2023).

The performance of different sectors in the fashion industry is changing rapidly. Especially the e-commerce and online sector is performing well in the fashion industry now. The Covid-19 pandemic has also boosted online shopping to become the most popular shopping method in the fashion industry (McKinsey Company, 2023). In order to increase the likelihood of people paying attention to their products and services, firms and brands make great emphasis to develop social media and online shopping platforms. Moreover, luxury brands and streetwear brands earning approximately US$354.80bn in 2022 are also having a win-win phenomenon in the fashion industry (Strategy&, 2023). As luxury brands have adapted to digital and aspirational marketing strategies to engage consumers, while street wear is maintaining its influence by collaborating with luxury brands and unique artists. Nevertheless, the Secondhand and “Resale Vintage market” sector is also experiencing a rapid growth at approximately 541.41 million U.S. dollars in 2022 (Statista, 2023) , as more and more customers are focusing on the sustainability of the fashion items and affordable price. 

Brands to remain competitive in different economic situations are always a challenging task., so they must be creative, innovative and adaptive. First of all, brands need to confirm products and services diversity by listening to customers’ feedback and opinion and increase product range in order to satisfy different wants and needs from different consumers and increase brand’s profit (CONDE NAST, 2023). Secondly, professional market research can also make brands remain competitive. Brands can create better identities and walk on the right path if they stay up to date with information, news, trends and economic conditions. Thirdly, high concern on a company’s sustainability and ethical practices is also a key major to remain competitive in the industry, which include clear and transparent data of brand’s sustainability operations. This can prove to consumers that the brand is a responsible and trustable business and gain profit as a result. On the other hand, creative directors need to have a clear brand identity and economic situation before adding new ideas to the brand because not all loyal consumers can understand unique artists’ artwork, so creating a directory should find creative opportunities and satisfy the brand’s core value, customer expectations and standard profit at the same time (Luxury Fashion Brand Management, 2023). 

Reference:

Berg, A., Hedrich, S. and Leon, J. (2017). The two faces of fashion-industry performance. [online] McKinsey & Company. Available at: https://www.mckinsey.com/industries/retail/our-insights/the-two-faces-of-fashion-industry-performance. 

Dillon, S. (2018) The Fundamentals of Fashion Management. 2nd ed. London: Bloomsbury.

e-book:https://libsearch.arts.ac.uk/cgi-bin/koha/opac-detail.pl?biblionumber=1449133&query_desc=

Fashion United (2022). Global Fashion Industry Statistics. [online] Fashion United. Available at: https://fashionunited.com/global-fashion-industry-statistics.

Mitterfellner, O. (2019) Fashion Marketing and Communication: Theory and Practice Across the Fashion Industry, Taylor & Francis Group, Milton.

e-book:https://libsearch.arts.ac.uk/cgi-bin/koha/opac-detail.plbiblionumber=1450606&query_desc=kw%2Cwrdl%3A%20Mitterfellner 

Mitterfellner, O. (2023) Luxury Fashion Brand Management and sustainability: Unifying fashion with sustainability. New York: Routledge.

e-book: https://libsearch.arts.ac.uk/cgi-bin/koha/opac-detail.pl?biblionumber=1546849&query_desc=kw%2Cwrdl%3A%20Mitterfelln\er 

Overdiek, Anja. (2016). Fashion designers and their business partners: Juggling creativity and commerce. International Journal of Fashion Studies. 3. 27-46. 10.1386/infs.3.1.27_1.

https://browzine.com/libraries/479/journals/36584/issues/8230931

PricewaterhouseCoopers (2019). Streetwear: The new exclusivity. [online] PwC. Available at: https://www.strategyand.pwc.com/de/en/industries/consumer-markets/streetwear.html. 

Smith, P. (2023). Global apparel market – statistics & facts. [online] Statista. Available at: https://www.statista.com/topics/5091/apparel-market-worldwide/#topicOverview. www.condenast.com. (n.d.). Condé Nast. [online] Available at: https://www.condenast.com/diversity.

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People

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People always play an important role in the fashion industry, from the founder of a brand to the consumer who is purchasing, people are always leading the track. As people always create a connected environment that can encourage creativity, unique ideas and innovation. Moreover, combined opinions can have a great positive impact on market trends and industry courses. So people are actually adding financial, social relevance and different culture to the fashion industry(McKinsey & Company, 2023). 

People of Generation Z were born between 1996 and 2010. The digital era, concerns about the environment, a changed financial landscape, and COVID-19 have all influenced the identity of this generation (McKinsey & Company, 2023). GenZ is living in a fast growing and advanced world, which sets them apart from the previous generations. As mentioned by the Talon.One report, Genz tends to be “informed consumer” and more “digital natives” (Talon.One, 2023). Developing in a world that is full of social media and updated news, Genz will always do research and weigh up options before purchasing goods and making buying decisions. Moreover, GenZ places high importance on brand ethics and corporate responsibility, compared to the Millennials (McKinsey & Company, 2023).

There are millions of brands in this world, how to be the brand that stands out and attracts the GenZ ? First of all, demonstrate a clear sustainability emphasis for the brand. For example, what materials their products are using and what eco-friendly method they are using on reducing waste. Having a transparent social and environmental responsibility can better help consumers understand and gain trust in the entire brand (McKinsey & Company, 2023). Moreover, create channels that can let GenZ consumers specify their interested brand. The use of social media including TikTok, Instagram, Snapchat and Facebook etc. can gain opportunities to present products in front of GenZ customers and create a strong and authentic presence of the brand (SearchEngineJournal, 2022).

Diversity is also an eye-catching topic, brands being diverse can draw much attention from people all around the world, which can increase profit and gain brand’s popularity. Zara is an example that has been doing a great job on brand’s diversity, such as using models of all races, ages, shapes, sizes and abilities (WhoToWear, 2019). Nevertheless, create suitable designs and products for different countries. Various Zara items sold in Asia and Europe have entirely different designs, demonstrating that Zara understands the needs and wants of different customers around the world. This can not only satisfy the taste and fashion of different people, but also prove that Zara is a diverse brand. 

How do “people” create an important role in a fashion brand to make it successful? Leader is an important character, leading the firm and company to work on processes, give interesting, great ideas and inspire employers to boost a brand to walk on a better pathway(Medium, 2019). Furthermore, the customer services team is also a key role. In this GenZ leading society, listening to GenZ opinions and satisfying their requirements can increase the demand of the brand and generate a positive result for the consumer. There are much more roles a brand should include to produce a better outcome, that’s why teamwork is very important, as to combine different colleagues’ opinions and ideas to bring products and services to market successfully. 

Reference list

Bewicke, H. (2023). Gen Z consumer behavior: What you need to know. [online] Talon.One. Available at: https://www.talon.one/blog/gen-z-consumer-behavior-what-you-need-to-know. 

Kristiansson, K. (2019). Who Do You Need On You Fashion Brand Team? [online] Medium. Available at: https://medium.com/@klas_apparel_entrepreneurship/who-do-you-need-on-you-fashion-brand-team-2bdf668c27fb. 

Macura, A. (2022). Marketing To Gen Z: How To Do It The Right Way. [online] Search Engine Journal. Available at: https://www.searchenginejournal.com/marketing-to-gen-z/471784/#close. 

McKinsey (2023). What is Gen Z? | McKinsey. [online] www.mckinsey.com. Available at: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z .

Moran, G. (2022). Gen Z and Millennials 2022. [online] Drapers. Available at: https://www.drapersonline.com/guides/gen-z-and-millennials-2022. 

Parker, K. and Igielnik, R. (2020). What We Know About Gen Z So Far. [online] Pew Research Center. Available at: https://www.pewresearch.org/social-trends/2020/05/14/on-the-cusp-of-adulthood-and-facing-an-uncertain-future-what-we-know-about-gen-z-so-far-2/. 

Smith, T. (2023). The Z: Using Social Media to Attract a Gen Z Audience | Meetings Today. [online] www.meetingstoday.com. Available at: https://www.meetingstoday.com/articles/143812/z-using-social-media-attract-gen-z-audience  [Accessed 17 Oct. 2023].

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Planet

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It has been suggested that the fashion industry is built on 4 major pillars, which are: Planet, People, Purpose, and Profit. Due to a growing number of impacts, these topics have a great deal of relevance. Fashion companies and brands started paying great attention to sustainability before they produce new products and services. In order to satisfy the demand of UNSDGs (United Nations Sustainable Development Group) (Remake.world, 2017). I will be referencing the UNSDGs and circular economy in this blog, and discuss how “Planet” links with the fashion industry. 

In a circular economy, nature is replenished and materials are never wasted. Products and resources are kept in use in a circular economy by procedures like upkeep, reuse, renovation, remanufacture, recycling, and composting. By separating economic activity from the use of finite resources, the circular economy addresses climate change and other global issues like biodiversity loss, waste, and pollution (Ellen Macarthur Foundation, 2023). Aiming a circular economy can increase brand’s sustainability. Furthermore, a circular economy can be created by implementing sustainable practices, so if we have serious improvement and attention on both issues, we can achieve a win-win situation. 

The fashion industry is polluting every part of the world. Advancing technology, faster manufacturing and unique advertisement will definitely create better outcomes and results for firms and consumers. However, all of these actions are causing a much more negative impact to the world. As a consequence, the UNSGD has introduced 17 development goals to increase fashion brand’s sustainability and satisfy a better world. In the context of fashion, sustainability refers to the adoption of ecologically and socially responsible practices throughout the full lifecycle of clothing and accessories, from design and manufacture through consumption and disposal. While promoting moral and environmentally sound alternatives, it seeks to reduce the harmful effects of the fashion industry on the environment and society.

For example SGD8 (Decent work and economic growth) is showing the phenomenon of the garment industry and garment workers. The garment industry is growing rapidly as the demand for fast fashion and cheap clothing is in large demand (weigo.org, 2021). Therefore, suppliers want to keep the production cost low and the production levels high. Firms and brands such as Shein and Urban Outfitters from developed countries such as China and the United States will outsource their production to the garment industry in developing or non-developed countries including Bangladesh and Vietnam (sustainablychic.com, 2022). This means that firms would be paying those garment workers a minimum wage whilst working in a poor environment.

Reference list: 

Earth Day. (2023). Fashion for the Earth – EARTHDAY.ORG. [online] Available at: https://www.earthday.org/campaign/sustainable-fashion/. 

Ellen Macarthur Foundation (2023). What is a circular economy? [online] Ellen MacArthur Foundation. Available at: https://ellenmacarthurfoundation.org/topics/circular-economy-introduction/overview. 

Stanton, A. (2020). How the United Nations’ SDGs Relate to the Fashion Industry. [online] Remake. Available at: https://remake.world/stories/news/how-the-united-nations-sdgs-relate-to-the-fashion-industry/. V&A (2011). V&A · Pollution: the dark side of fashion. [online] Victoria and Albert Museum. Available at: https://www.vam.ac.uk/articles/pollution-the-dark-side-of-fashion.

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Ganni

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I’ve chosen Ganni as my favourite brand. It’s a Danish contemporary ready-to-wear fashion brand and it was founded by Copenhagen gallerist Frans Truelsen in the year 2000, it started gaining cult popularity. as a designer label in the late 2010s under the tutelage of husband-and-wife duo Nicolaj Reffstrup and Ditte Reffstrup. 

In my perspective, Ganni has created an attractive and successful brand identity and did interesting advertisement and visual merchandising. In different fashion magazines, the layout and colour combination have always created eye-catching effects that make me want to learn more about this brand.

Additionally, the design of Ganni’s products will always be introduced as cute, playful and enthusiastic because of the combinations of different colours, logo and unique illustration on products, which can always touch up my daily outfits and create a better outcome. 

Moreover it combines the “cool girls” and ‘sweet girls” vibe in their design, for example, colourful cowboy boots and a pink leather jacket. These are the ganni products that i have ever purchased and can satisfy my wants and needs of both cool and cute. 

Furthermore, aside from the design of Ganni’s product. Comfortness and sustainability for their products are incomparable. The quality and comfort of their products remain unchanged despite being washed and ironed a hundred times.

Overall, Ganni has done well from a different perspective, its content always contains the latest news and keeps up to date with different fashion trends. So it satisfied the PESTLE analysis of the brand and created a great outcome.

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