Vogue Cafe's: Fashion with a milkshake on the side

Vogue is a fashion magazine best known for delivering well-written articles on todays trends and fashion icons. Normally we associate the idea of Vogue with a printed magazine or online articles, as a fashion tool to refer to. 

This fashion leader has decided to take a quite daring business venture. The business leaders are undergoing a very interesting type of brand extension. Brand extension can be defined as, "a common method used by companies to launch a new product by using an existing brand name on a new product in a different category." Vogue has chosen to venture into the bar and restaurant industries by opening new chain of restaurants called "Vogue Cafe."        

This is a revolutionary idea for the magazine and could really transcend their business to the next level, causing them to be a true multi brand business. In terms of newness, the company hits the nail on the head with coming up with the next "it' idea because no other competing company in Vogue's industry has something quite like this. This gives them serious competitive advantage. 

Their target market is most likely millennials and readers of the magazine, who are loyal to Vogue as a brand and would look forward to experiencing the marriage of the style of vogue with a new dining experience. This place has a lot of things going for it, to start the style and decor is worthy of any fashion bloggers Instagram post. In addition to the atmosphere, they have a relatively fairly priced and kid friendly menu which allows not only the stars but your everyday reader to come and enjoy. With a spread of breakfast and lunch options as well as a kids menu and dessert, there is truly something for every fashionista on this menu.

There is one major marketing risk that comes to mind when I first read an initial article on Vogue's recent venture. To start, combining a brand that gives its consumers print and digital articles with a restaurant chain may be a tough sell. Although many people at Vogue are informed enough to write an article on the newest place to grab a bite to eat, to tell us about the diet of our favorite it girl.. does this really make them qualified enough to start a successful restaurant with enjoyable good? Some consumers may struggle to connect the two products/services. If the connection fails to be made Vogue may have a hard time continuing this new area of business. 

Vogue is currently expanding its locations to Berlin and Porto, setting up shop in very high end hotels known for their cultural history urban settings. These locations will join the line of Cafes already operating in Dubai, Keiv and Moscow. If Vogue can manage to tie its magazine to the idea of a cafe, then they will revolutionize their own business as well as the magazine business. They could be very well starting a business that will spark a new trend among magazines and fashion writers. Providing their audience a place to enjoy the writing they print is a revolutionary idea if they are able to successfully maintain and expand these new Cafes. 

Pop up stores: Fashion week's marketing gold

As 2016's New York Fashion week comes to a close, there is a new trend brewing among our top designers and it isn't just bold colors and fresh designs. Marketing gold has been struck among New York's top designers: Pop up shops. This is a revolutionary idea that has become a new and improved way to connect with editors, customers, and create a buzz about an upcoming collection.

For those who aren't familiar with the concept… pop up stores are shops that designers rent space for, usually for a span of 2-3 days, where consumers and editors alike have access to runway designs just days after them being on display. This is much different from years past, where designers normally showcase a collection for the next season on the runways and then you wait until that next season to have access to the clothes. So instead of being greeted by the designs to come for the spring of 2017, consumers and editors were shocked to find top designers showing looks for the coming fall season. And even more surprising than seeing fall looks on the runway was the fact those consumers could buy them just days after seeing them.

So how does this apply to marketing?

This trend is revolutionary in comparison to anything done previously in NYFW. By transforming these collections into ready to sell products, consumers are getting to buy the products directly from designers. This cuts out the waiting for stores to have the looks they want in stock, and minimizes the time they have to wait for them. Because the consumer can get the styles that want and don’t have to wait, designers are going to increase sales and make also start to reestablish brand loyalty. This see-now-buy-now method seems to be the direction the industry is going toward, which is a wise business moves on these designers part.

In addition to increasing sales, the designers involved in these pop-up stores are also increasing the attention they get from the media. Up until recently, Tommy Hilfiger had been a brand we haven’t seen in stores and sported on the streets in quite some time. But that’s nothing a pop up carnival and Gigi Hadid can’t fix. From the release of the event Tommy’s Pier he has had numerous articles written about him and his clothes will no doubt be in high end department stores and boutique's across the country. And similar brands including Tom Ford, Thakoon, Burberry, Rihanna, and the Jenner sisters have hopped on the pop up bandwagon and it seems to be paying off. If you scan any fashion magazine/website these designers and their pop up events hold the entire spotlight, receiving the most attention from reporters and consumers alike. This increased media exposure will definitely have a positive effect on designers sales. 

 

But most importantly, this is revolutionizing the shopping experience for customers. It makes in much more personal (pop up shows often had customizable stations where you can make signature pieces one of a kind) and adds a type of exclusiveness that people like to see. Because the stores are only there for a short period of time, only so many people have access to them. Customers love the feeling of getting access to something that not all other consumers have. It adds excitement to the total shopping experience, and consumers are always looking for the best products and the best experience possible. So the designers who host these events will no doubt be the designers who do the best this fall.

Be sure to follow all of your favorite designers as the fall season approaches, you never know what stores could pop up near you!

Links:
http://www.vogue.com/13472003/new-york-fashion-week-spring-2017-preview-nyfw-shows/
http://www.hollywoodreporter.com/news/new-york-fashion-week-pop-up-shops-selling-designer-runway-clothes-jewelry-more-924631

(Photos credited to billboard.com, thekikistylediary.com, blog.thestorefront.com)

The 5 P's of Marketing: Product, Price, Place, Promotion.... and Purses?

In all industries, the key to the successful launch lies in two factors: a good product and and even better marketing. The more competitive the industry, the more willing you have to be to think outside the box, make your products stand out and push the envelope to succeed. If you follow the rule of the "4 P's" of marketing, you often find you can be the most successful. Product, price, place and promotion are key factors needed to market and sell any project, service or idea.

Fashion may be one of the most disposable and difficult industries to have successful products and marketing. Because of the large quantity of successful companies, you need more than a good design and high end products. Those realistically are only the qualifications to even enter the competition. New comers Neely and Chloe Burch have clearly brushed up on the 4 P's before launching their new handbag line. With fresh ideas, timeless designs and budget friendly prices it seems their going to give the handbag industry (including their well know aunt Tory Burch) a run for their money.

There is no doubt that this design team is a true force to be reckoned with. From design to marketing skills it seems they have it all. Neely and Chloe are a perfect example of why the 4 P's of marketing work so well. Let me take you through this.

Product:

In the high intensity, competitive industry of high fashion retailing your product needs to be fantastic in order to succeed. Let me reassure you that these gals new line doesn't fall short. Opting for timeless silhouettes, its clear that these girls have created timeless pieces with the look and feel of even the most expensive bags. The mantra they carry is, "Everything we made is meant to be fixed. It should last you forever." So really this is not an impulse purchase you will use once and banish to the farthest corners of your closet. Rather the quality and timelessness of each piece makes it an investment that you can feel good about. Consumers are constantly looking for timeless pieces that can keep up with the rapidly changing trends as well as our own rapidly changing styles. These bags do a fantastic job in giving the consumer everything they could want out of a handbag.

Price: Don't let the high quality look and feel of Neely and Chloe bags scare you aware. Compared to the market they are competing with these girls have done an impressive job of keeping their prices low and affordable. This gives them an obvious advantage over the competition. Not only does it give them a larger customer base, but these lower priced high quality items will without a doubt produce  customer loyalty. Why pay more when you don't have to? Even customer with the tightest of budgets will be able to budget a purchase from Neely and Chloe's line and not dry out their savings. 

Place: The main channel that Neely and Chloe provides their products to consumers is through their own website. On the website you have access to the full line of handbags, wallets, footwear and accessories. As well as the website they are also looking to add store locations in various major cities. 

Promotion: These millennials have a clear understanding of the need for good promotion. They have been featured in Vogue and have social media accounts to cover all the needed ground. They are promoting exactly where their target market will be looking. They understand the value of print, the honor it is to be featured in Vogue. They also grasp how essential it is to be present on social media sites like Instagram, where many of their fans and customers will constantly be looks for deals, store locations, new releases and looks to showcase their new bags.  

Links:
http://www.vogue.com/13472730/neely-chloe-burch-leather-handbag-line-launch/
https://neelyandchloe.com
https://www.instagram.com/neelyandchloe/

(all images credited to vogue and neelyandchloe.com)