Is the &OS Bridalwear range a suitable strategic choice?
- The key aspects of combining quality products at an affordable price complement the current market trend for affordable bridalwear.
- GRACE’s strategy of combining classic trends, modern twists with a hint to feminity appeal to the target market and provide a stable aesthetic in terms of longevity, due to classic trends remaining a popular wedding style. (Hitched, 2014).
- Distinctly feminine, minimal and emotive brand ideologies influence a high-end and elegant range, and promotes a strong brand image amongst its new and current competitors.
Does &OS have the resources to pursue the new range?
- The global expansion of the parent company (H&M Group) and rising profit of 35% in 2015 (Fashionista, 2015), show the H&M Group are currently in a profitable situation which advocates sufficient financial aid to proceed with the investment into GRACE.
- GRACE will utilise the current facilities operated by the H&M group to design, manufacture and process the product mix to allow simplification of introducing the new range. Considerations must be given to any specialist work such as intricate beading/luxury fabrics which may be advisable to outsource.
- The pop-up implementation requires a small resource of store staff; 6-8 associates to lead and set-up the store will be sufficient. Staff sourcing can be pulled internally and externally which allows flexibility and enables feasibility.
What are the financial and stakeholder aspects to the expansion?
- A seasonal pop-up sales strategy enables GRACE to operate in the most profitable months, limiting losses in: employment costs, rent, overheads, etc.
- Introducing GRACE through pop-ups allows the brand to a trial period before any full commitment to any permanent brick and mortar stores. The strategy is realtively risk-free, without high investment costs, the brand is able to reduce risk of failure and limiting wasted expenditure.
- Using current manufacturing plants to create the new products and outsourcing more specific processes is a cautious and safeguarded approach to implementing the new range without requiring significant financial input.
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