Advertisement

Consumer Behavior Final Project- Alexander McQueen & Doc Martens Collaboration

Mar. 24, 2020
Advertisement

More Related Content

Advertisement
Advertisement

Consumer Behavior Final Project- Alexander McQueen & Doc Martens Collaboration

  1. CONSUMERS AND COLLABORATIONS PROJECT X Jagruti Garg, Mely Angelique Patron, Adrian Quinones Rivas, Xin Yu
  2. Dr Martens: Brand History Founded1901 inthe northernhemisphere in England.Originally knownas Griggs. Originallyamodest work-wearbootthat was evensoldasa gardeningshoe atone stage. Dr. KlausMartens, createdthe air cushionedsole in1945, while he wasrecovering froma footinjury. In 1945 Dr. Marten and Dr. HerbertFunkwent inpartnership forthe air cushioned sole. In 1959, withthe growingdemandthey decideditwastime to advertise their revolutionaryfootwear inventioninoverseas magazines In 2000 they startedselling exclusivelyunderthe AirWare name. In 2013 Dr. Marten was acquiredbythe private equitycompany Permira.
  3. Lee Alexander McQueen Biography • Born in 1969, suicide in 2010. • A London-based, English fashion designer; was head designer at Givenchy from 1996 to 2001. • Founded his homonymouslabel in 1992. • Achieved British Designer of the Year awardsin 1996, 1997, 2001 and 2003.
  4. Alexander McQueen: Brand History • Founded in 1992 and joined Kering Group in 2001. • Distinctivefor its innovativeand uncompromisingexpression of unbridled creativity. • Today, synonymouswith modern British couture. • A lower-priced diffusion line McQ was launchedin 2006. • An onlinestore in the US was launched in 2008 and it was laterexpanded with an online platform for the UK market in 2010. Alexander McQueen A/W 1995 Highland Rape
  5. Alexander McQueen: Collaboration History • In 2004, collaborated withAmerican Express to launch a limited-edition version of its ultra-exclusive CenturionCard. • In 2005, collaborated withPuma on a line of men’s and women’s footwear, and launched in Spring 2006. • In 2007, became the first brandto participatein MAC's promotion of cosmetic releases. • In 2008, McQ AlexanderMcQueen for Target.
  6. Brand Performance Dr. Martens Full Year Results Ended March31 2019 • Revenue up 30% to 454.4million pounds vs LY of 348.6m • Direct to Consumer Business up 42 % • Wholesale Business up 23% Alexander McQueen 2019First-Half Report • Wholesale Business up 9.8% • First-half2019up 20.3% • DTC Business up 32.3% (Statista, 2019)
  7. #ToughAsYou Campaign • "The only thing tougher than a Dr. Martens boot is the person wearing it". • Marketing campaign to encourage their customers to share their stories and to be part of their community. • Blaine Harrison advocates for deaf and physically impaired people in live music spaces. • Dr. Martens shares stories like Blaine Harrison to show consumers that they are an inclusive company. • Every story relates back to specific products. (Dr. Martens, 2019)
  8. Target Market: Millennials • As a group, we decided to target millennials as our target market for this collaboration • Dr. Martens and Alexander McQueen both cater to audiences with a younger, moretrendy consumer • "By 2020, Millennials are expected to accountfor 30% of retail sales in the U.S.- which is about $1.4 Trillion. (Abramovich, 2019, para. 1) • "Millennials spend nearly $600 billion every year on retail alone" (Don, 2019, para. 2) • We definitely wantto cater towards onlinepurchasing as well because "the 18-to-34 agegroup is now making 54% of its purchases online" (Abramovich, 2019, para. 9) • "Millennials drove85% of the luxury sector's growth lastyear"(in 2017) (Elven, 2018, para. 3)
  9. S W O T Strengths Weakness Opportunity Threats Prestigious brandimage of both brands. Available only in USA. Hence, less exposure. Make a difference in the society. Giving 10% to charity for suicide prevention. Other brand collaborations. Recognizable worldwide. Targeting a specific segment of the consumer. Use Alexander McQueen’s death anniversary to promote the collection. Price deflation. Exclusive/ limited edition collection increasing the value of collaboration. Affordable unique designer footwear. Tribute to the designer.
  10. P E S T E L POLITICAL ECONOMIC SOCIOLOGICAL TECHNOLOGICAL ENVIRONMENTAL LEGAL The U.S. tariffs on Chinese-imported goods can increase the cost of goods. Trade war can disrupt $50 billion in Chinese supply chains (Donaldson, 2019). Consumer spending remained solid during the 3rd quarter in the U.S. (Cohen, 2019). Goldman Sachs believes that the U.S. economy will bounce back in 2020 (Li, 2019). Sustainability has become one of the most important factors in the fashion industry. Sustainability-related keywords increased 75% year-on-year (Velasquez, 2019). Growth in DTC businesses has led to brand loyalty (Nishimura, 2019). AR/VR are becoming more developed and have continued to enter the retail space. New technologies, such as Material Exchange, which is a virtual sourcing process, are also increasing in footwear (Sourcing Journal, 2019). Footwear and clothing is responsible for 8% of global greenhouse emissions and is set to double that number by 2030 (Cline, 2019). Sea levels are rising and weather conditions are becoming harsher due to climate change which can have an impact on shipping containers across major U.S. ports (Curtin, 2019). The California Consumer Privacy Act will give consumers protection over their personal data and how companies can use them (Sundar, 2019). The U.S. Customs and Border Protection is becoming more aware of textile, footwear and apparel supply chains to make sure that they adhere to ethical practices (Sundar, 2019).
  11. Product Line Inspiration • Print on leather • Paint on leather • See-through Plexiglasplatform (encased petal) • Embroidery
  12. Marketing and Promotion The collaboration will be launched on February 11, 2020 to mark the 10 year death anniversary of Alexander McQueen. Marketing channels E-mail E-commerce website In-store Magazines Social media
  13. Marketing Campaign: Lollapalooza Music Festival-Chicago, Illinois • Lollapaloozais a major music festival here in the United States that lasts 4 days in the fall • The festival hostedabout"400,000 attendees,averagingabout 100,000 people a day"(Roti, 2019, para.2) • This venue hosts the world famous acts such as "Ariana Grande, J. Balvin, Twenty-One Pilots,Lil Wayne, and Kacey Musgraves"(Roti,2019, para.2) • We would set up a tent/booth at the event promotingour collaboration • A raffle will be conducted where 20 pairs of the boot's collaboration will be handed out • To be in the raffle, attendees will haveto fill out their info (name, phone number,and email)on a card,and they must followboth Dr. Martens and Alexander McQueen on Instagram
  14. MarketingStrategy • 10% of the sales proceeds will go to the American Foundation for Suicide Prevention as tribute to Alexander McQueen's life. • AFSP is the largest non-profit organization dedicated to the prevention of suicide. • This marketing strategy spreads awareness amongst consumers and places both companies as socially and ethically responsible to the minds of consumers
  15. Marketing strategy: social media & other platforms. Promote the collection through celebrities like Lady Gaga, Beyoncé, Rihanna, Gwyneth Paltrow who follow and love the brand. Put up posters and billboards of the collection along with the Music festival at Times square, Metro stationsand popular tourist spots and emphasize AFSP sales proceeds. Promote the collection though it’s exclusivity and for the fact that it is limited edition. Making it more valuable. Special registration for consumers to rsvp online and get the collection a day before it launches.
  16. The Exclusive Collection advertisement is posted in store two weeks beforethe release date. One or two pairs of sample shoes are exhibited on showcase. Co-operatewith two fashion influecers; Eva Chen (New York); Kelsey White (Los Angeles); hold fan meeting and give out limited amount gift bags. In-store Promoting
  17. Test Marketing • We decided to conduct a pre-launch for our Doc Martens & Alexander McQueen collaboration at both the Doc Martens' and Alexander McQueen Flagship stores in Herald Square and Madison Avenue in NYC • This launch would only last two weeks until the collaboration is distributed to the rest of the stores • In doing so, we would be able to measure daily sales volume, UPT's for the collaboration, and overall revenue made from the collection alone at both locations
  18. Running head: CONSUMERS AND COLLABORATIONS 1 Consumers and Collaborations Final Project: Dr. Martens and Alexander McQueen Jagruti Garg, Mely Angelique Patron, Adrian Quinones Rivas, Xin Yu LIM College
  19. CONSUMERS AND COLLABORATIONS 2 Executive Summary As two different established brands, Alexander McQueen and Dr. Martens would make an excellent collaboration with one another. Dr. Martens, who is well-known for their streetwear and urban appeal, carries a cult following who covet their classic boots and platform shoes, while Alexander McQueen caters to the upscale, but Goth-obsessed clients that make it such a unique luxury brand. Because of these factors, the Millennial market would be an excellent target market for this collaboration as the aesthetics of both brands already cater to this specific target market because “stylish millennials and Gen Z-ers are the future of retail” (Lutz & Schlossberg, 2015, para. 1). In addition, both brands have been operating financially strong in the past year as Dr. Martens “has been growing at a rapid rate, with sales roughly quadrupling from their level a decade ago” (Bain, 2017, para. 6). Accordingly, Alexander McQueen “has experienced very strong growth in the first quarter of 2018” as well (The Fashion Law, 2018, para. 5). From here, by having Dr. Martens and Alexander McQueen conduct a collaboration on a shoe line together, both brands would benefit from increased brand recognition, be able to display both of their brand identities to new consumers, increase their profit on both ends, a diversification of products, and an increase in consumer base for both the brands.
  20. CONSUMERS AND COLLABORATIONS 3 Brand History Dr. Marten was founded in 1901 in the northern hemisphere in England. Originally the brand was known as Griggs. It was a modest work-wear boot that was even sold as a gardening shoe at one stage. Dr. Klaus Martens created the air cushioned sole in 1945, while he was recovering from a foot injury. In 1945 Dr. Marten and Dr. Herbert Funk went in partnership for the air cushioned sole. An exclusive license was acquired, and a few key changes were made, including an altered heel, a bulbous but simple upper, a distinctive yellow welt stitch, a two-tone grooved sole edge and a unique sole pattern. The boots were branded as ‘Airwair’. With the growing demand in 1959 they decided it was time to advertise their revolutionary footwear invention in overseas magazines. This is when they started selling exclusively under the Airwair name in 2000. Dr. Martens was later acquired by the private equity company Permira in 2013. (Dr. Martens, 2019) The brand Alexander McQueen was founded in 1992 by Lee Alexander McQueen and joined the Kering Group in 2001. The house is distinctive for its innovative and uncompromising expression of unbridled creativity and is now synonymous with modern British couture (Kering, 2019). The early collections built its reputation for controversy and were relied on Lee’s shock tactics, such as the collection entitled Highland Rape for A/W 1995 and a 2006 runway show named Widows of Culloden with supermodel Kate Moss dressed in yards of rippling fabric. Overall, integral to the Alexander McQueen culture is the juxtaposition between contrasting factors: fragility and strength, tradition and modernity, fluidity and severity (Vogue, 2013).
  21. CONSUMERS AND COLLABORATIONS 4 The Trend Collaboration within the fashion industry is happening more often in recent years, while high fashion and streetwear titans teaming up seems more and more possible since it’s the most visible sign yet of how streetwear brands are challenging the dominance of luxury brands in the hearts and minds of the Millennials (Diderich, 2017). Examples such as Supreme and Louis Vuitton collaborated in 2017, as well as Fendi and Fila launched a limited line combining the two brands’ logos in 2018. Brands are doing so in part to recruit younger customers, and in part to experiment with different business models (Tyler, 2018). Dazzling footwear collaborations are appealing to catch younger consumers’ eyes in the meantime as British designer, Vivienne Westwood, and sport performance brand, Asics, launched an exclusive collection of limited- edition shoes in 2019 (Footwearnews, 2019). Also, Japanese designer brand, Sacai, will be back (once again) in the coming Fall 2020 and they will be partnering on Nike’s Peg Vaporfly SP series sneakers. Lastly, the heavily anticipated collaboration between Prada and Adidas will determine what will happen when a streetwear classic is blessed with the “Made in Italy” stamp of approval (Lerma, 2019). Because of this, it can be seen from the current fashion industry performance that Dr. Martens will give out sparks with Alexander McQueen. Brand Performance Both Dr. Martens and Alexander McQueen are performing quite well in their respective categories based on their financial reports. According to their full year results ended in March 31, 2019, their revenue increased 30% from 348.6 million GBP to 454.4 million GBP. Their direct-to-consumer business increased at an impressive 42% whereas their wholesale department grew 23% (Dr. Martens, 2019). On the other hand, Alexander McQueen’s first-half report for 2019 showed that their sales increased 20.3% with their direct-to-consumer increasing by 32.3%
  22. CONSUMERS AND COLLABORATIONS 5 and wholesale business up by 9.8% (Kering, 2019). In an increasingly competitive retail industry where businesses are suffering massive losses, a collaboration between two successful brands would prove be a good basis for our product. Target Market: Millennials After taking into consideration the markets and consumers that both Dr. Martens and Alexander McQueen currently cater to, it was decided that the best market to target this collaboration to would be Millennials. In fact, Dr. Martens would serve as an excellent base brand for Alexander McQueen to collaborate with towards Millennials as “the classic brand has won over Millennials and Generation Z with twists on its classic styles” already (Wood, 2019, para. 2). In regard to the Millennial appeal towards Alexander McQueen, they ranked #46 on Business Insider’s “Top 50 brands that cool teenage girls love” (Lutz & Schlossberg, 2015, para. 1). Within that same article, it was further emphasized that Millennials are the premiere audience to cater this collaboration towards as “stylish Millennials and Gen Z-ers are the future of retail” (Lutz & Schlossberg, 2015, para. 1). Millennials are a driving force in retail. Because of this, Don (2019) emphasized on their research on millennials’ retail spending and noted that “Millennials spend nearly $600 billion every year on retail alone” (para. 2) This is very important to consider as Millennials are gaining power in retail sales as the years go by. For example, Ambramovich (2019) noted that “by 2020, Millennials are expected to account for 30% of retail sales in the U.S, which is about $1.4 trillion” (para. 2). This number is radically important as Millennials appear to be accounting for a large share of the retail market (in terms of spending), since “the Millennial generation makes up nearly half (or 50%) of the U.S workforce” (Abramovich, 2019, para. 7).
  23. CONSUMERS AND COLLABORATIONS 6 The collaboration will also be featured and sold online through Dr. Martens website as the digital experience and convenience seems to be a staple way of shopping for Millennials as well. Online shopping has become a past time for Millennials as they have “formidable spending power online” and “the 18-to-34 age group is now making 54% of its purchases online” (Don, 2019, para. 17; Ambramovich, 2019, para. 9). Lastly, since this collaboration would have a luxury appeal to it because of Alexander McQueen’s luxury status as a brand, it is important to recognize that Millennials also play as arbiters within the luxury sector as well. Elven (2018) explained in her article on luxury spending among Millennials that “Millennials drove 85% of the luxury sector’s growth last year (in 2017)” (para. 3). SWOT Analysis Strengths Weaknesses Opportunities Threats Prestigious brand image of both brands. Available only in USA. Hence, less exposure. Make a difference in the society. Giving 10% to charity for suicide prevention. Other brand collaborations. Recognizable worldwide. Targeting a specific segment of the consumer. Use Alexander McQueen’s death anniversary to promote the collection. Price deflation Exclusive/ limited edition collection increasing the value of collaboration. Bring High Low Collaboration to Doc Martens based off of Alexander McQueen’s Brand Image Affordable unique designer footwear Tribute to the designer.
  24. CONSUMERS AND COLLABORATIONS 7 PESTEL Analysis Political Economic Sociological Technological Environmental Legal The U.S. tariffs on Chinese- imported goods can increase the cost of goods. Trade war can disrupt $50 billion in Chinese supply chains (Donaldson, 2019). Consumer spending remained solid during the 3rd quarter in the U.S. (Cohen, 2019). Goldman Sachs believes that the U.S. economy will bounce back in 2020 (Li, 2019). Sustainability has become one of the most important factors in the fashion industry. Sustainability -related keywords increased 75% year-on- year (Velasquez, 2019). Growth in DTC businesses have led to brand loyalty (Nishimura, 2019). AR/VR are becoming more developed and have continued to enter the retail space. New technologies, such as Material Exchange, which is a virtual sourcing process, are also increasing in footwear (Sourcing Journal, 2019). Footwear and clothing are responsible for 8% of global greenhouse emissions and is set to double that number by 2030 (Cline, 2019). Sea levels are rising, and weather conditions are becoming harsher due to climate change which can have an impact on shipping containers across major U.S. ports (Curtin, 2019). The California Consumer Privacy Act will give consumers protection over their personal data and how companies can use them (Sundar, 2019). The U.S. Customs and Border Protection is becoming more aware of textile, footwear and apparel supply chains to make sure that they adhere to ethical practices (Sundar, 2019). The U.S. tariffs on Chinese-imported goods can increase the cost of goods manufactured in China, which can have a damaging effect on consumer spending. Although our collaboration will be manufactured in England, the likelihood that consumers will spend less can have a negative impact on our collaboration. Additionally, the trade war can disrupt up to $50 billion in Chinese supply chains (Donaldson, 2019).
  25. CONSUMERS AND COLLABORATIONS 8 Despite the tariff issue, consumer spending remained solid during the 3rd quarter in the U.S. (Cohen, 2019). Additionally, Goldman Sachs believes that the economy will bounce back in 2020 (Li, 2019). When the economy is doing well, consumers tend to shop more so the timing of the launch of our collaboration has the potential to do well in the market. The overall growth of direct-to-consumer businesses leads to brand loyalty (Nishimura, 2019). Loyal followers of both Dr. Martens and Alexander McQueen will purchase the collaboration and increase our profits. The financial reports, as previously mentioned, support this idea. Since our production will be based in England under sustainable and ethical practices, this will attract a consumer market that is increasingly growing awareness in sustainability. It has become such an important part of the fashion industry to the point that sustainability-related keywords increased 75% year-on-year (Velasquez, 2019). However, footwear and clothing are responsible for 8% of global greenhouse emissions and is set to be double that number by 2030. We must make sure that our collaboration has a net-zero supply chain that does not contribute to further damage to the Earth. Product Line The exclusive collection has overall four styles. Print, paint and embroidery are the three designs created on the leather surface, while the fourth one is to have a Plexiglas platform. Rose and skull are two main factors that blended into classic Dr. Martens’ boots as they are symbolic elements of Alexander McQueen. Pattern with small ordered skulls is lightly printed on the leather, as well as the illustration of flower and skull in white acrylic painting is finished on black boots. Skull or rose pattern embroidery is considered as well. Since there is a pair of delicate boots from Alexander McQueen’s past season which has a Plexiglas heel, our design
  26. CONSUMERS AND COLLABORATIONS 9 team would like to bring in the idea and design a classic Dr. Martens boots with Plexiglas platform and some rose petals encased. Marketing Campaigns: Lollapalooza To promote this collaboration with Dr. Martens and Alexander McQueen, the collaboration will be promoted at Lollapalooza. Lollapalooza is “a 4-day music festival” that takes place in the fall that hosts world famous acts such as “Ariana Grande, J. Balvin, Twenty- One Pilots, Lil Wayne, and Kacey Musgraves” (Roti, 2019, para. 2). This would be a great venue to promote our Dr. Martens and Alexander McQueen boot collaboration because the festival, in 2019, hosted about “400,000 attendees, averaging about 100,000 people each day” (Roti, 2019, para. 2). Lollapalooza has great foot traffic, so the product would be on display for hundreds (even thousands of people) to see. At this festival, there will be a tent entirely dedicated to promoting the boot collaboration. T-shirts with a unique logo of the collaboration on it will be handed out, along with handing out gear (souvenirs) that will help promote the product as well. Lastly, the product line will be on display, and 20 pairs of the new boots will be handed out to the winners of a raffle that will be conducted. In order to be considered for the raffle, the consumer would have to put their first name, last name, email, and phone number on a card, and they have to also follow both Dr. Martens and Alexander McQueen on Instagram as well. American Foundation for Suicide Prevention The launch of this collaboration will be on February 2020 in order to commemorate the 10th year death anniversary of Alexander McQueen. The legendary designer died of suicide; therefore, the launch will donate 10% of the sales proceeds to the American Foundation for Suicide Prevention. The foundation is the largest non-profit organization dedicated to the
  27. CONSUMERS AND COLLABORATIONS 10 prevention of suicide. Additionally, they provide support for those that have been affected by the loss of their loved ones. The organization also conducts research in order to train clinicians and educators in suicide prevention that will save thousands of lives (AFSP, 2019). This form of socially responsible marketing strategy will not only pay tribute to Alexander McQueen, but it will also raise awareness to a growing issue amongst the American youth. Integrating social responsibility will only benefit the collaboration especially in an era where consumers are more aware of a company’s ethics. A company that is ethically and socially responsible has a better image from a consumer’s point of view and will ultimately lead to more sales (Schiffman & Wisenblit, 2015). In this case, our target market are the millennials who are more likely to consume goods and services that they know will give back towards a good cause, more so than any other generation (Davis, 2018). Marketing strategy: Social Media & Other Platforms In today’s time, everyone is on social media and is following one or the other influencer for their style trusting their choices making them want to try the products they promote. With the increasing growth of online shopping, it has become crucially important to catch consumers’ attention when they are surfing the web. So, bringing in celebrities like Lady Gaga, Gwyneth Paltrow, Beyoncé and Rihanna who follow the brand and have been seen wearing the designer at various occasions would really help the brand bring in the Gen Z consumers. Moreover, putting up billboards and posters of the collection along with the Music festival at Times square, Metro stations, and popular tourist spots and emphasizing AFSP sales proceeds. Also, emphasizing the collection because of its exclusivity and for the fact that it is limited edition. We will also have special registration for consumers to RSVP online and get the collection a day before it launches, ultimately making it more valuable.
  28. CONSUMERS AND COLLABORATIONS 11 In-store Promoting The advertisement poster will be posted in all Dr. Martens and Alexander McQueen brick-and-mortar stores two weeks before the final release date. One or two pairs of sample shoes will be exhibited on showcase, but there is no inventory for consumers to try on before the launch date since it is a way to attract customers’ attention and stimulate their curiosity. Another promoting strategy is to co-operate with two U.S. fashion influencers: Eva Chen (@evachen212) who has over 1,200,000 followers on Instagram based in New York City; Kelsey White (@kelsey_white) who has over 998,000 followers on Instagram based in Los Angeles. We will previously sponsor our products to them and ask them to post pictures of them wearing our shoes, additional with the Exclusive Line ad campaign on their Instagram. Besides, we are going to hold a fan meeting in store as one day in New York City and one day in Los Angeles, which covers the two major cities of both east and west side. The New York event will happen on release day, and the Los Angeles event will be held on the second day. Fans who come for the influencers can take pictures with them and talk with them; and the first 100 fans can get a gift bag with a delicate notebook and an “M” decorated keychain inside. All information regarding the fan meeting will be previously edited on their Instagram as they have a big Millennials followers radix. Test Marketing – Flagship Pre-Launch When it comes to retail, one of the most effective ways to test the market for a specific product is to see first-hand sales. The way a target market responds to a product is the feedback marketers crave because it is all driven by actual data. If a target market is heavily interested in a product, then sales will be high. If the opposite is true, then sales will not be as high. After evaluating our options as a group, we ultimately decided to conduct a pre-launch of our Dr.
  29. CONSUMERS AND COLLABORATIONS 12 Martens and Alexander McQueen collaboration in order to test market our new line of products at the Dr. Martens Flagship store in Herald Square in New York City and at Alexander McQueen Flagship on Madison Avenue. The pre-launch would last for two weeks before the new product line would be distributed to all Dr. Martens and Alexander McQueen retail stores. From here, we would be able to see exactly how much of the product line will get sold. In addition, some other information that will be collected will be through this pre-launch will be UPT’s (units per transaction), daily sales volume for the collaboration, and overall revenue made from the prelaunch itself from both locations. Conclusion In result of the collaboration with Dr. Martens and Alexander McQueen, there are some factors to consider in expanding the collection. One factor to critically consider for expanding the collection is to look at the costs that could come from expanding the line. To this, it’s important to recognize that expanding the collection could mean making new boots made from different fabrics and materials, some that could be much more expensive than the original collaboration collection. Also, another factor that would have to be considered would be continuous consumer attention. This is important to deciding whether or not to expand the collection because if consumers don’t have a continuous interest or attention towards the collection, then the collection will not be worth the added investment. In addition, another factor to consider would be how the collaboration has affected both Dr. Martens’ and Alexander McQueen’s brand identity after the initial launch of the collaboration. If consumers did not find the collaboration appealing at all, then there would be no point in trying to expand the collection since consumers would not buy the boots at all. Lastly, one final factor to consider would be to see exactly which styles of boots were better sellers and deciding to expand the collection and
  30. CONSUMERS AND COLLABORATIONS 13 focusing on those specific boots. By doing so, the expanded collection would have a better chance at being successful on the market since the best-selling boots would be the muses for the expanded collection. Furthermore, two ways that we could do to scale consumer excitement for our collaboration for Dr. Martens and Alexander McQueen collaboration would be by evaluating sales overall and by the number of views and likes the collaboration gets on social media. Doing so would allow consumer excitement towards the collaboration to be measured quantitatively.
  31. CONSUMERS AND COLLABORATIONS 14 References Ambramovich. (2019). 15 Mind-Blowing Stats About Millennials. Retrieved October 22, 2019, from https://cmo.adobe.com/articles/2016/6/15-mind-blowing-stats-about- millennials.html#gs.b8ozca. American Foundation for Suicide Prevention. (2019). Our Work. Retrieved from https://afsp.org/our-work/ Cline, E. (2019, November 3). Wear Clothes? Then You’re Part of the Problem. Retrived from https://www.nytimes.com/2019/11/03/opinion/climate-change-clothing-policy.html Cohen, P. (2019, October 30). Economy Grew at 1.9% Rate in Quarter, Hit by Trade Fight and Global Weakness. Retrieved from https://www.nytimes.com/2019/10/30/business/economy/us-gdp-growth.html Curtin, J. (2019, November 16). Climate Change Is Coming for Global Trade. Retrieved from https://foreignpolicy.com/2019/11/16/climate-change-disrupt-global-container-shipping- trade-policymakers-take-note/ Davis, S. (2018, February 1). How to Incorporate Charity and Volunteer Work into Your Marketing Strategy. Forbes. Retrieved from https://www.forbes.com/sites/forbesagencycouncil/2018/02/01/how-to-incorporate- charity-and-volunteer-work-into-your-marketing-strategy/#550f6a0a7043 Diderich, J. (2017, January 19). Louis Vuitton to Unveil Supreme Collaboration at Men’s Show. WWD. Retrieved from https://wwd.com/menswear-news/mens-fashion/louis-vuitton- supreme-collaboration-10754981/
  32. CONSUMERS AND COLLABORATIONS 15 Donaldson, T. (2019, November 19). Trade War Could Disrupt $50 Billion in China Supply Chains. Retrieved from https://sourcingjournal- com.limcollege.idm.oclc.org/topics/sourcing/us-china-trade-war-supply-chain-shift- mitsubishi-ufj-financial-group-180600/ Dr. Martens Website. (2019). History. Retrieved from https://www.drmartens.com/us/en/history Footwear News. (2019, April 30). Collabs: April 2019. Retrieved from https://footwearnews.com/2019/influencers/collaborations/collaborations-shoes-sneaker- releases-april-2019-1202766637/ Kering. (2019). 2019 First-half report. Retrieved from https://www.kering.com/en/finance/publications/ Lerma, M. (2019, November 25). Prada and Adidas Finally Debut the First Pieces from Their Hotly Anticipated Collaboration. Robb Preport. Retrieved from https://robbreport.com/style/footwear/prada-and-adidas-collaboration-what-the-first- pieces-look-like-2883259/ Li, Yun. (2019, November 18). Goldman sees the economy surprising in 2020 and these stocks benefiting most from the rebound. Retrieved from https://www.cnbc.com/2019/11/18/goldman-sees-economy-surprising-in-2020-and-these- stocks-will-benefit.html Lutz, A., & Schlossberg, M. (2016, June 10). The top 50 brands that cool teenage girls love. Retrieved November 27, 2019, from https://www.businessinsider.com/goldman-sachs- coolest-teen-retail-brands-2016-6
  33. CONSUMERS AND COLLABORATIONS 16 Nishimura, K. (2019, November 14). More Consumers Are Loyal To Brands Than Ever Before. Is DTC the Cause?. Retrieved from https://sourcingjournal- com.limcollege.idm.oclc.org/topics/retail/direct-to-consumer-brand-loyalty-yotpo-retail- ecommerce-holiday-179776/ Roti, J. (2019, August 6). Lollapalooza 2019 hosts 400,000 people; ends with one death, 31 arrests and 116 emergency transports. Retrieved November 27, 2019, from https://www.chicagotribune.com/entertainment/lollapalooza/ct-ent-lollapalooza-2019- weekend-hospital-transports-arrests-0805-20190805-xc2thommmvbdfltk22psbb5zvi- story.html Sundar, S. (2019, August 26). What to Watch: Intellectual Property, the U.S. Supreme Court, Privacy. Retrieved from https://wwd-com.limcollege.idm.oclc.org/business- news/legal/legal-fashion-retail-supreme-court-lgbt-trademarks-infringement-cases-ccpa- 1203244767/ Sourcing Journal. (2019, September 16). Using Tech to Put Your Best Foot—and Shoe— Forward. Retrieved from https://sourcingjournal- com.limcollege.idm.oclc.org/footwear/footwear-innovations/materials-show-2019- american-events-footwear-tech-166934/ Tyler, J (2018, November 4). “We’re living in the age of the remix’: Fashion brands are making major changes to appeal to Gen Z in a new era of luxury”. Business Insider. Retrieved from https://www.businessinsider.com/why-luxury-brands-partnering-with-streetwear- brands-2018-11
  34. CONSUMERS AND COLLABORATIONS 17 Velasquez, A. (2019, November 18). 2019 May Go Down as the Year Trash Became Trendy. Retrieved from https://sourcingjournal-com.limcollege.idm.oclc.org/denim/denim- trends/sustainability-diversity-lyst-year-in-fashion-report-2019-180200/ Vogue. (2013, September 30) The Story of Alexander McQueen. Retrieved from https://www.vogue.com.au/fashion/news/the-story-of-alexander-mcqueen/news- story/d61b845aed2210f68463c256faa88970 Wood, Z. (2019, August 17). Oh, so pretty ... political upheaval credited for Dr Martens sales boost. Retrieved November 27, 2019, from https://www.theguardian.com/business/2019/aug/17/oh-so-pretty-political-upheaval- credited-for-dr-martens-sales-boost
Advertisement