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Competition Identification Los Angeles Fashion District Rodeo Drive, Los Angeles, California is well known as the world capital of style and fashion. La. Com Shopping Guide describes Rodeo Drive as a shopping mecca for the rich and famous (and their stylists) and a window-shopping trap. It is characterized as upscale or snobbish depending on perspective and tax bracket.
Competitors Theodore (453 and 454 N Rodeo Dr, Beverly Hills, Ca) Theodore Fashion Boutique offers classic collections. Theodore is one of the oldest shops that still draws a faithful clientele of celebs and fashionistas because it consistently ushers in new trends (La. Com n. p. ). It offers sportswear (from Theory to Plein Sud) and clothes (by famous designers and fashion houses like People of the Labyrinth, Alexander McQueen, Ann Demeulemeester, etc). La.
com Shopping guide notes that such celebrities like Paris Hilton, Jessica Simpson, Usher and Winona Ryder have been seen at the store. Atmosphere: Hip Marina Rinaldi (319 N Rodeo Dr, Beverly Hills, Ca) Marina Rinaldi Fashion Boutique presents Max Maras collection for plus-size women. The Italian-made clothes are classic, expensive and luxurious. Atmosphere: Classic Ralph Lauren (444 N Rodeo Dr, Beverly Hills, Ca) Ralph Lauren Fashion store presents wide collection of clothes (from Polo T-shirts to jeans, sweaters, shirts, skirts and outwear. Dolce & Gabbana (312 and 314 N Rodeo Dr, Beverly Hills, Ca) Dolce & Gabbana offers collections for men and women.
The stores are equipped with a VIP private fitting room equipped with a wet bar for celeb clientele (La. Com n. p. ) BCBG Max Azria (443 N Rodeo Dr, Beverly Hills, Ca) BCBG Max Azria is quite new, as the designer opened this shop in August 2005. The prices are quite high, but still affordable. Max Azria offers both extravagant and classic clothing collections.
Tiffany & Co (210 N Rodeo Dr, Beverly Hills, Ca) According to La. Com, classic to the point of being vanilla, Tiffany is still the standard when it comes to designer diamonds, sterling silver jewelry, and upscale household accessories. The three-story boutique adds a New York-style haven to this very West Coast address. Gucci (347 N Rodeo Dr, Beverly Hills, Ca) Gucci Fashion Boutique is well known for its exclusive collections such as La Pelle Guccisima and others, well recognized for its impeccable quality. Giorgio Armani Boutique (436 N Rodeo Dr, Beverly Hills, Ca) Giorgio Armani Boutique is one of the most expensive boutiques; it is the first, and perhaps most quintessentially Rodeo Drive Store (Anderson n. p. ).
According to Rodeo Drive on Los Angeles CitySearch, in Beverly Hills's tatu's-conscious circles, this coveted label equals carte-blanche credibility Strengths and Weaknesses Strengths: - The store appeals to the customers with upper and middle income - The main target: younger buyers - Affordable prices for mass produced collections - Clothing collections for plus-sized men and women - Wide ranged clothing collections and accessories - Direct selling to buyers and individualized service - Well-thought advertising and promotion - Attitude towards customers - Good quality at average price All these strengths will help the company to gain a competitive advantage over the competitors. Weaknesses: - Fashion Boutique will need to adopt better approaches Due to high competition, the company will probably have to move into much higher quality clothes and accessories segment that requires better design in order to gain a competitive advantage over such famous fashion boutiques as Gucci, Dolce & Gabbana, Theodore, Ralph Lauren, etc. The financial incapability of a newly created fashion boutique is the biggest weakness for the companys future growth. Competitive Advantage The Fashion Boutique will distinguish itself versus competitors as it will be targeted toward younger buyers by offering more mass produced and less expensive clothes. The store can propose also eyewear line that will include sunglasses and frames. The affordable prices can be reached by working with mostly new designers and purchasing mass produced collection made by the most expensive and well-known designers.
One of the features that will help the Fashion Boutique to be a step ahead of competitions is offering clothing collections for plus-sized men and women at more affordable prices. Better quality / price ratio, individualized service will satisfy the most demanding customer. As the Fashion Boutique will compete with such famous designers and shops as Gucci, Dolce & Gabbana, etc, it can also propose exclusive couture collections for most demanding customers. However, both eyewear and couture collections will be used to widen assortment, whereas the main accent will be made on less expensive clothes.
Bibliography Anderson, Susan Heller. (February 6, 1983). Rodeo Drive: True Glitz. The New York Times. Retrieved August 12, 2006.
web La. Com Shopping. Retrieved August 12, 2006. web Rodeo Drive on Los Angeles CitySearch.
Retrieved August 12, 2006. web
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