Competitor Analysis for Osiyan Paris - Case Study Example

Competitor analysis for Osiyan Paris Contents Introduction 3 Competitor Analysis 3 About Osiyan Paris 3 Potential cases and strategies of competitors4 Perceptual positioning map 8 Conclusion 9 References 10 Introduction Osiyan Paris is a luxury brand which sells jewellery to the high end consumers. The company mainly operates in France and some other part of the globe. However, the company is planning to enter the UK luxury fashion market. The UK luxury brand market is a large market with huge revenues. The market is crowded and highly segmented with a number of companies specializing in different products and holding chunks of market share. Every company in this segment has their own base of loyal customers. However, the increasing number of options and the low cost of switching brands have made the industry wide enough to adjust more numbers of players within it. Therefore, Osiyan Paris should embark on an in depth competitor analysis of the local and international luxury brand companies operating in this sector before entering the market (Carlopio, 2010). This would help the company to identify the market gaps and decide on strategies to create a unique and differentiated position for the brand. Also, a competitor analysis can help to evaluate whether there are suitable potential opportunities for the company to establish itself in the market in a profitable and successful manner. Competitor Analysis About Osiyan Paris Osiyan Paris is a luxury brand of jewellery. The company was created by two siblings as a creative collaboration venture. The owners of Osiyan Paris are two fashion conscious persons who have used their imagination and travel experience to create unique designs of jewellery. The jewellery designs of Osiyan Paris are mostly influenced by the traditions and customs of different countries of the world. The company offers unique, fashionable and contemporary jewellery that have been inspired by the exposure of the owners to different traditions and cultures of countries across the globe. The Osiyan Paris jewellery are made in the most careful and detailed way to ensure high quality, attention to detail, uniqueness as well as consistency. In the word of the owners, Osiyan Paris is inspired by the travels of its owners throughout the world, other popular brands like Louis Vuitton, Coco Chanel, fashion, Dalai Lamas quotes for life, nature and different traditions and cultures of the globe (Osiyan Paris Corporate Website, 2014). The home country of Osiyan Paris is France where it is a well-established brand name in the luxury segment. The headquarters of the jewellery brand is located in Paris which is the capital of France. However, in the present day, the company operates internationally in a number of countries. Potential cases and strategies of competitors The Osiyan Paris brand operates in a unique and differentiated market segment. However, there are a number of competitors of the company operating in the same market scope. The main competitors of Osiyan Paris in the UK luxury brands market may include Ottoman Hands, Zoe and Morgan, Orelia, Freedom Jewellery by Top shop, David Yurman, and Coco’s Revenge, Links, Fossil, Pandora, Tatty Divine, Monica Vinader, Monsoon etc. Ottoman Hands operates in the luxury jewellery brand segment by essentially combining the strategies of modern aesthetic with traditional designs. The company mainly deals with handcrafter jewellery items. These jewellery items are inspired by the culture and tradition of Turkey. The company offers a unique collection of necklaces, rings and bracelets which it designs in collaboration with the local gem cutters and artisans. Ottoman Hands offers unique jewellery for both genders (Chevalier and Gutsatz, 2012). The company operates in a click and mortar form i.e. it has both physical stores as well as an online presence. The jewelleries of this company are commonly worn by celebrities and spotted on famous glossy magazines like Stylish, Cosmopolitan and Red etc. The target group for the company is the ultra-premium segment. Zoe and Morgan manufacture jewelleries that are the results of a combination between music, fashion and intricacy. The company has a fine jewellery segment as well as a traditional jewellery segment. The brand offers luxury jewellery items that have a rock and roll edge to them. The rock and roll edge associated with the products is the competitive differentiation factor for the company. Orelia is another luxury jewellery brand in the United Kingdom. The company offers custom jewellery. The segment of the brand lies in between high street and designer products. Apart from jewellery, the company has other product offerings including clothes, accessories like bags, belts, hats, scarves etc. The jewellery brand is positioned as a super stylish brand with an inherent European feel to it. Orelia jewelleries are distributed through a number of stockists. The brand of jewellery is available in the leading jewellery shops and high end fashion stores in different parts of the world, especially in the United Kingdom. Freedom jewellery is a specific diversified business unit of Top shop which is a leading garments manufacturing company in the United Kingdom. The company also deals in junk fashion jewellery items. The products are more affordable as compared to the other brands in comparison. The brand mainly deals in junk jewellery for both men and women. The company does not have existence in the fine jewellery segment. But it is a tough competitor in the junk and costume jewellery segment. The jewelleries are available in the Top shop standalone stores. The target segment is the upper middle class of the customer groups. David Yurman is a luxury fashion brand launched in the year 1980 by David Yurman and his wife, Sybil Yurman. The company deals in a number of fashion items, including jewellery and time pieces. The company has product offerings for men, women as well as children. This brand is an ultra-premium brand which is famous for the wedding collection of jewellery and watches. The products are distributed through flagship stores of the company. The company operates as a standalone unit with no associated manufacturers, stockists or distributors. The brand is known for its iconic designs and targets the ultra-niche group of customers. The use of unconventional materials, highly expensive and rare gemstones and non-replicable designs make the company a standout in the foray of luxury jewellery. The company has a few physical stores as well as a completely functional online store. The company is highly reputed for the differentiated and value adding customer service that it has been providing to its customers since its inception in 1980 (Kapferer and Bastien, 2009). Coco’s Liberty is a range of fashion jewellery designed for the luxury oriented consumers. This jewellery line is manufactured by Coco’s Revenge brand. The company is based in London. The products of Coco’s Liberty are known for the contemporary yet timeless styles and are distributed through a handful of stockists in the high streets of United Kingdom (Fleisher and Bensoussan, 2003). The company is associated with a number of celebrities and is regularly mentioned in the fashion magazines. Links is a famous luxury jewellery brand based in London, UK. The company offers luxury jewellery and watches for men, women and children. The company is famous for the wedding collection and watches. The products are distributed through standalone stores of Links. No stockists and distributors are involved. The company offers its products in flagship stores for the premium customer segment in UK (Tungate, 2009). Pandora jewellery deals in precious jewellery items including silver, diamond and gold jewellery. The company provides unique offers to customers like Pandora club and loyalty cards. The jewellery brand is most recognized for its wide variety of unique charms made with precious metals. The company makes modern hand finished jewellery which is distributed in the market through a number of franchisees. Fossil jewellery is the jewellery line of Fossil USA. Fossil is a multinational company. The jewellery line of Fossil is also available in many countries and has a strong presence in the UK market. It mainly provides costume jewellery for women and is available in the Fossil stores and big fashion retail outlets in the UK. The company also has an electronic commerce unit and ships products all across the world. The target groups are high income groups of customers. Monsoon accessorize specializes in intricate jewellery. It operates as a boutique and markets the products through accessory and jewellery stores located in prime locations and popular malls. The Monsoon jewellery products are available in retail outlets in many cities of UK (Cheverton, 2005). Monica Vinader jewellery line is owned by the celebrity designer Monica Vinader. This brand offers jewellery with authentic British designs and the customer group includes a number of Hollywood celebrities. The items are sold through online retail stores as well as in popular brick and mortar fashion and jewellery stores. Tatty Divine is a famous handmade jewellery brand of England. The products are distributed through stockists and individual stores. The company has two stores in London. The products are also distributed through 300 stockists across the globe. The company collaborates with many well-known designers in fashion industry to produce unique product lines every year (Chevalier and Mazzalovo, 2008). Perceptual positioning map Conclusion The competitor analysis reflects the general idea that the UK luxury brand sector is a highly concentrated and crowded sector. There are a number of brands which operate in different segments and by creating different brand perceptions as is indicated in the perceptual positioning map. Since, the Osiyan Paris brand operates in the luxury jewellery segment and its designs are a combination of traditional aesthetics with modern artistry, therefore, the brands like Coco’s Liberty, Tatty Divine, Orelia, Ottoman Hand, David Yurman and Monica Vinader are the direct competitors of Osiyan Paris in the UK luxury brands segment. The indirect competitors of the company include Monsoon Accessorize, Freedom Jewellery and Fossils while brands like Pandora, Links and Zoe & Morgan are likely to act as the least significant competitors for Osiyan Paris. However, the company can create a unique position for itself through differentiated customer service and augmented services which remains an unimplemented strategy in the sector and is currently used only by David Yurman. Also, creating a loyal customer base in the new market through focused promotions and visibility enhancement would enable the company to position itself suitably in the new market. References Carlopio, J. 2010. Strategy by Design: A Process of Strategy Innovation. New York: Palgrave Macmillan. Chevalier, M. & Mazzalovo, G. 2008. Luxury brand management: A world of privilege. Singapore: Wiley. Chevalier, M. and Gutsatz, M. 2012. Luxury Retail Management: How the Worlds Top Brands Provide Quality Product and Service Support. Beijing: John Wiley & Sons. Cheverton, P. 2005. Key Marketing Skills: Strategies, Tools and Techniques for Marketing Success. Great Britain: Kogan Page Publishers. Fleisher, C. & Bensoussan, B. 2003. Strategic and Competitive Analysis: Methods and Techniques for Analysing Business Competition. New Jersey: Prentice Hall. Kapferer, J. N. & Bastien, V. 2009. The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands. London: Kogan Page. Osiyan Paris Corporate Website. 2014. About Us. [Online]. Available at http://www.osiyanparis.com/about-us/. [Accessed on 12 August 2014]. Tungate, M. 2009. Luxury World: The Past, Present and Future of Luxury Brands. London: Kogan Page. Read More