Zegna Brand Audit

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Zegna Brand Audit

  1. 1. Ermenegildo Zegna in China Brand Audit Prof. Cervellon International University of Monaco Marketing for Luxury Goods and Services Justin d’AnethanTuesday 6 December 2011
  2. 2. Interesting Facts, Interesting Moments... Beginning in 1910 British competition - creating momentum for quality and innovation Ermenegildo Zegna goes abroad The 50’s and the beginning of a new era Providing textile for famous fashion brands A dream realized, Ermenegildo Zegna is fully integrated A family business - from Tivero to the world First luxury menswear in China - a winning betTuesday 6 December 2011
  3. 3. Ermenegildo Zegna in Numbers and Figures Revenues = 963’000’000 € Number of employees = over 7’000 Estimated market share in the tailor-made suit industry (not menswear) = 30% +/- “Over 90% of sales were exports to Europe, America and Asia, the latter accounting for 46%. China, Hong Kong, Russia, Brazil and India, together with a number of other emerging nations, account for 40% of the Group’s sales.”Tuesday 6 December 2011
  4. 4. How The Market Is Moving... The luxury industry is growing China represents the booming market today, likely to be for a long time... Lower counterfeiting and greater education about luxury and quality brands on the consumer side Need for digitalization and online presence Cultural need for status and personal positioning in society The ‘Bling’ factor still has importance in the mindset but customers are becoming more aware of heritage and tradition brands Chinese consumers buy even if they cannot afford itTuesday 6 December 2011
  5. 5. How The Market Will Be Moving... Need for -flawless- experiences beyond the core product Decreasing need of western brands to the advantage of more local ones Increase in tourism Absolute and aspirational luxuries are the two segments which will grow mostTuesday 6 December 2011
  6. 6. Who Is Ermenegildo Zegna’s Target Customer Male Shanghai, Beijing, Guangzhou, Tier II cities, International High net worth Between 35 and 50 years old Strong education and a working position High lifestyle International dimension How status pushes to go the extra stepTuesday 6 December 2011
  7. 7. Ermenegildo Zegna’s PositionningTuesday 6 December 2011
  8. 8. Ermenegildo Zegna’s IdentityTuesday 6 December 2011
  9. 9. How promotion is done at E.Z. Advertising Magazines Official Website Sales Celebrity Endorsement Non Ad Promotion Events Fashion Shows Social Network Newsletters Foundations - Oasi Zegna, Casa Zegna and Fondazione Zegna CelebritiesTuesday 6 December 2011
  10. 10. Zegna’s SWOT (China)Tuesday 6 December 2011
  11. 11. Ermenegildo Zegna’s Life Cycle and BCG Growth/Share Matrix CoupledTuesday 6 December 2011
  12. 12. Proposed Recommendations Increase options and services online clearer strategy on social networks environmental friendly or ethical cause project in Mainland China Start investing in Tier 2 and Tier 3 cities Use Chinese celebrity for local advertising campaign (proposed: Bd Wong, Nicky Wu, Andy Lau,...) Strive for further innovationsTuesday 6 December 2011
  13. 13. Thank you ! Any questions...? Any comments...?Tuesday 6 December 2011

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