Brand Management - Evisu Program - Essay Example

Brand Management Table of Contents Table of Contents 2 Introduction 3 Main Text 3 Conclusion 7 Recommendations 7 References 9 Evisu is a Japanese high-end clothing firm that specialises in manufacturing and selling denim through orthodox, labour-intensive methods. Evisu is an internationally recognised brand that is popular with all ages of people. Since its founding in 1991, the brand has gone through many phases to become a household name in the global fashion industry, especially in the denim segment (Choi, 2014:38). In recent times, the company has intensified efforts to revitalise and reinforce brand equity by re-launching and rebranding to develop a stronger connection with its target market. In this paper, the writer will characterise Evisu’s efforts at revitalising and reinforcing its brand equity, and provide suggestions as to how the company can rejuvenate its brand equity. Introduction Evisu’s history goes back to the 1980s. During the 80s, vintage denim aficionados fanatically pursued methods to make similar replicas of vintage jeans. In 1988, Yamane succeeded in finding and acquiring a classic American shuttle loom that could weave 40 metres daily and make exact copies of vintage denim. The subsequent small output of just 12 pairs of jeans per week heralded the beginning of the Replica Movement. Evisu’s logo and brand identity are linked with the denim revolution. Evisu enjoyed its most successful period in the 1990s to early 2000s. It was hugely popular with celebrities and young people who identified with its unique designs and innovative marketing. It is regularly lauded as the pioneer of high-end, $600 jeans, and the leader of the “old school” denim movement (Choi, 2014:43). In the mid 2000s, the company faced many challenges associated with financial, creative and competitive aspects, the core components of the fashion industry. The tax evasion case it faced in 2006 hurt its PR and finances. Main Text In 2006, Evisu’s founder – Hidehiko Yamane – and the company were reported to Japanese authorities on suspicion of tax evasion. Yamane was accused of colluding with two other firms to conceal income totalling over 500 million yen and evading, over three years, income taxes totalling around 160 million yen. This incident severely dented the company’s image, which it had built for decades and sold to millions of people across the world. However, and prior to this case, the company had also been posting unsatisfactory results in terms of brand popularity and financial performances (Rossolatos, 2014:34). An unexpected lull in quality and industry had allowed aggressive brands like Tommy Hilfiger, Calvin Klein, Armani to eat into Evisu’s market share and relegate it to lower levels of popularity and sales. In 2009, the company hired Scott Morrison, a leading personality in the denim world, to head its creative division as part of its re-launch. The company was intent on re-establishing its presence in the fashion world and, more specifically, reclaiming its long-lost glory in the global denim segment. Like all brand equity revitalisation efforts, Evisu’s new strategy took some time to catch on. However, the past 2 years have seen resurgence in sales, brand equity and popularity. The firm’s initiatives can be examined from various angles. The firm’s efforts are innovative, aggressive, and genuine. These are the three areas of weakness that compromised its earlier prosperity and contributed to the decline of its brand equity. Innovation is found in the new design approach (Varley, 2013:58. All the designs embody the quality, authenticity and craftsmanship that made the brand popular in the 1990s. It features, for instance, new fits, a smaller pocket company logo, and authentic washes. In some designs, the firm’s trademark seagull logo does not feature entirely. These initiatives are all aimed at (re)positioning the firm as a unique brand for people with special tastes. The company has gone back to its roots by making its denim using traditional methods like handcrafting. It also identifies its denim as handmade from start to finish, with “every pair telling a special story.” Evisu wants its customers to know that every product they wear is produced with the precision and attention of skilled craftsmen, making them as unique as possible. The company’s brand equity revitalisation efforts have also focused on rebranding Evisu as the “it” denim, just like it was in the 90s when customers formed long waiting lists and queues to buy them from the nearest stores (Okonkwo, 2010:35). Considering the competition it is up against at the moment – numerous aggressive and appealing brands have emerged since Evisu’s downturn – the company must channel its message to the right target market in a unique and revolutionary way. Currently, all Evisu denim products are replica quality, unique items that are numbered. They also feature handcrafted Evisu seagull logos. For the latest collection, the firm’s craftsmen employ different methods to create distinct detailing (Okonkwo, 2010:37). The company uses various platforms to inform customers about these aspects so that they can develop an appreciation of the brand and relate to its efforts to become unique. However, it has been doing this on a consistent basis since it declared its intention to rebrand. The lead designers at Evisu also recognise that in spite of its ability to appeal to customers using innovative and classic denim design and manufacturing, the fashion industry is awash with revolutionary brands that will always challenge its presence. As such, it is necessary to compliment innovation by giving it an edge. The company introduced three new collections to project its new identity (Le Bon, 2014:26). The three collections catered to all categories of its target market. The first, which targeted the “average” customer, was priced at between $150 and $198. The second, targeting middle-income earners, was priced at between $198 and $265. Finally, the third collection, which targeted high-income earners, was priced at between $600 and $700. These collections and their pricing ensured that Evisu regained its place in the pantheons of high-end denim brands but still avoided being elbowed out of certain customer classes. The pricing also enabled differentiation, a key aspect of the firm’s innovative marketing strategy. Despite labelling itself as an exclusive brand, Evisu has managed to increase its visibility across all consumer categories. What are the implications of this strategy? Such a move allows the company to remain relevant and known even among customers who do not subscribe to its brand. Brand visibility is a crucial aspect of brand equity, and Evisu has not only understood it but also learned how to cultivate and apply it (Kompella, 2014:19). Brand visibility is different from brand loyalty because it transcends the customer base. Poor brand visibility was a major reason the brand suffered amid increasing competition in the early 2000s. Currently, the firm has ensured that it remains popular among buyers and non-buyers. This implies that a customer who does not like denim is still aware of the Evisu brand and might even be tempted to buy one of its products due to awareness of its qualities. A core element of Evisu’s revitalisation strategy is aggression. The company has used all possible channels and avenues to market its brand and make sure it stays relevant. Scott Morrison, the new creative director, has implemented a bold, cutting edge approach to advertisements and branding that has ensured that if target markets do not buy its products then they will at least be aware of it. A key aspect of this aggression has been facilitated by social media. It is important to note that social media and social media were not as popular as they were in the late 90s and early 2000s when Evisu was suffering a decline in sales, brand equity and brand loyalty (Herzeca and Hogan, 2013:24). Perhaps, if these concepts were available at that time, the company would have made a better pitch to retain its popularity and brand equity. This time, however, the firm has harnessed the power of social media and bought heavily into the social media marketing trend. It has a presence on the main social media platforms, and regularly interacts with the public to inform them about its products and engage them on various issues concerning its products and services. Evisu also runs various social media marketing campaigns that allow it to retain relevance and compete with its rivals. The 2009 re-launch identified social media as a fundamental cog in its wheel and the firm has ensured that it is not left behind by any social media trend that can be used to grow brand visibility and equity (Black, 2014:34). Finally, Evisu’s attempts, at revitalising and reinforcing its brand, are informed by authenticity. In the context of this discussion, authenticity means identifying with and engaging consumers on a deeper level. This deeper level goes beyond sales and profits. The company has cultivated a warm and friendly identity that invites customers to contribute to the improvement of its products and services. All customers and even members of the public can engage the company on various platforms and voice their opinions on different issues. In the 21st century business environment, commerce is more than just about profit (Hancock, Manlow and Pierson-Smith, 2014:17). Customers demand other ideals like genuineness, empathy and humility from businesses and they value these aspects more than profit. Evisu is aware of this and has marketed itself as a consumer-friendly and proactive brand, and this has significantly improved its brand equity. Conclusion In spite of the many obstacles it has faced since the turn of the century, it is obvious that Evisu is a premium clothing brand that is capable of dominating the denim industry again as it once did. The problems the company underwent that led to a decline in its brand equity are not unique. Any firm can face the same challenges, but the difference lies in the solutions. The decision to re-launch and to hire a new creative director was strategically appropriate in every sense and shows that the company has learned from its mistakes. Recommendations Regarding marketing, Evisu should intensify its social media initiatives by increasing its social media presence and engaging the public more. It should, specifically, intensify social media campaigns and target young and middle-aged consumers, who are likely to buy into its brand and identity. The company should also expand its brand visibility by using all available media to market its products (Birch, 2014:21). Having been left behind by many of its competitors, it is evidently playing catch-up and cannot assume anything. Newspapers, magazines, TV, social websites, and radio are all powerful media that Evisu should take advantage of to give it a competitive edge against its rivals. The company must also decide whether it is better to focus on all consumers or target a niche market like high-end consumers or middle-income earners. Finally, Evisu needs to develop a flexible and futuristic strategic plan that will facilitate the attainment of its objectives now and in the future. This strategic plan should include a pricing and differentiation strategy that sets it apart from its rivals. References Birch, N. (2014) How brands resonate meaningfully with their target audience, Munich, GRIN Verlag GmbH. Black, S. (2014) The handbook of fashion studies, London, Bloomsbury Publishing. Choi, T. (2014) Fashion branding and consumer behaviours scientific models, Dordrecht, Springer. Hancock, J., Manlow, V. & Pierson-Smith, A. (2014) Global fashion brands: style, luxury & history (Illustrated ed.), London, Intellect Limited. Herzeca, L. & Hogan, H. (2013) Fashion law and business: brands & retailers, London, Practising Law Institute. Kompella, K. (2014) The brand challenge adapting branding to sectorial imperatives, London, Kogan Page. Le Bon, C. (2014) Fashion Marketing: Influencing consumer choice and loyalty with fashion products (1.st ed.), New York, NY, Business Expert Press. Okonkwo, U. (2010) Luxury online styles, systems, strategies, London, Palgrave Macmillan.. Rossolatos, G. (2014) Brand equity planning with structuralist rhetorical semiotics, Munchen, Kassel university press GmbH. Sims, J. (2010) Cult streetwear, London, Laurence King. Varley, R. (2013) Retail product management: buying and merchandising (6th ed.), London, Routledge. Read More