Kate spade final

Eleana Gudema, Ameara Harb, Katie Lohman, Jordan Peery, Julia Ranauro

kate spadeNEW YORK

Brand History

Founded in 1993 by Kate Brosnahan and Husband Andy Spade Started by just making accessories First Store Opened in 1996 in SoHoAcquired by Liz Claiborne Inc. in 2006 Now includes clothing, jewelry, shoes, beauty, perfume, stationary, and home decor

Research

Surveyed Target AudienceMintel MediaMark

Key Findings

Competitors

Category AnalysisLuxury Accessories

Distribution80+ boutiques in the United States100+ boutiques in foreign marketsSold in department stores such as Nordstrom, Bloomingdale’s, Lord & Taylor, and Neiman Marcus

Size:Sold in 400+ store locations internationally

General Health:Economically Stable

Rationality/Seasonality:Luxury lines debuted seasonally

SWOT

Strengths

Strong brand identityDistinct products that bring recognition

to the brandStrong and diverse social media

presenceUnique marketing techniquesStrong brand loyaltyMultiple retailers Website is easy to navigate and shop

Weaknesses

Potentially diluted brandBrand awareness is not at level of

competitors Rapid expansion

Opportunities

Build awareness within the target audienceExpand production More retail locationsReconnect with loyal customersCapitalize on the 20th anniversary

Threats

Other "classic American" brandsEconomic downturnsKnock offs

Competitive SetPrimary:

Secondary:

From a Broad Context:Competitors are other luxury accessory brands that offer classic leather handbags, wallets, and both trendy and timeless jewelry pieces. Customers tend to be those with a disposable income and an affinity for expensive accessories.

Target Audience

Primary Audience: Blair

Women 18-30Trend conscious and fashion obsessedPrimarily single, more independentCollege educatedYoung, urban, professionalsPredominantly Caucasian, but not exclusivelyFinancially stable with a disposable incomeAdventurous at heart, but like to appear neat and polished

Secondary Audience: Carole

Women 30-60Nostalgic for classic accessoriesMarried with childrenCollege educated, still maintaining a professional careerLiving in suburban areas outside of large citiesAware of current trends but may not follow themFinancially stable with a large disposable income

Current Communications

Online Communications Twitter, Tumblr, Pinterest, FacebookWebsite extensions: City Guide, blog

Print Ads Magazine and Blog features Fashion Shows

Concerns &

Recommendations

Overall ConcernsStraying from classic accessories identity Exploring new “low – end” markets Trying to be all things to all people Not capitalizing on customer loyalty

Positioning Statement

Kate Spade is an internationally recognized luxury brand

predominantly geared towards young professionals who have an affinity for classic and timeless accessories with a modern twist

Communications

Current StrategyFocused on online presence but research shows that most people associate with the print ads

Recommended Strategy

Keep online presence as isIntegrate print ads with online presence

Product Identity

Current StrategyTrying to be all things to all people Have stationary, home, clothing, jewelry, in addition to accessories People associate the brand with accessories

Recommended Strategy

Shift the focus of marketing back to accessoriesUse the 20th anniversary to do soAccessories are the gateway to the rest of the brand

Brand IdentityCurrent Issue

Losing sight of target audienceNot capitalizing on customer loyalty

Cheapening of brand

Recommended Strategy

Use 20th Anniversary as a launch point for a “classic” kate spade accessories line Keep “low-end” line but only for home, stationery, wallets, and jewelry – not handbag

kate spadeNEW YORK