This report is on Burberry fashion house which is a leading fashion house in UK. The project discusses the formulation of strategies for the working of the organization.
The formulation includes the company’s mission, vision, the environmental and organizational auditing. The strategic planning is being discussed in detail which consists of the competition, planning systems, strategic planning issues and the techniques. The selection of strategies and their evaluation is further included in the report.The evaluation includes their market entry strategies, substantive growth, and limited growth and disinvestment strategies. Concluding the report is the implementation of the various strategies used by the company. The various teams involved, the communication, allocation of resources, human resource department, all these points are covered in the report.
Burberry is a luxury fashion house from Britain which manufactures clothes and fashion accessories. It was founded in 1856 by Thomas Burberry, who opened his first shop on sportswear in Basingstoke, London.Burberry has got its own stores and global franchisees and sells through concessions in third party stores. Burberry has now become a leading clothing luxury brand with a large global business. Burberry is well known for its unique British heritage, positioning into luxury arena, integrity of the outerwear depending on the principles of quality, function and modern classic style. Today after so many years the brand is distinguished by its women wear, menswear, children wear and non-apparel with its unique outerwear as the foundation.
Along with retailing, they also deal in wholesaling and licensing. ) MISSION Burberry is a luxury brand which is recognized internationally with a worldwide distribution network. The mission of the company is to maintain its integrity and vitality of their brand, at the same time, continue to develop the business which remains relevant to ever evolving markets and consumer tastes. This mission statement shows that the brand mainly emphasizes on the integrity which is maintained from a long time keeping in mind the current demands and choices of the customers. They also believe in developing the business in every possible global markets.
b) VISIONBurberry has a long history of exploration to be proud of which includes innovation and desire to improve at the heart of its work. They also work on maintaining the highest quality standards of their products. The brand is defined by its ? Authentic British heritage ? Unique democratic positioning within the luxury arena ? Founding principles of quality ,function, and modern classic style based on the integrity of its footwear ? The icon portfolio which is recognized globally which are the French coats, trademark check. The vision says about a specific culture/ heritage followed by the organization.Burberry continues to pursue its goal to be recognized as much for operational expertise as for product and marketing excellence Accelerating retail led growth The processes and the culture of the company being a static wholesale model is shifted to a dynamic retail model. Retail led growth refers to the operation of Burberry’s own growth along with a fundamental shift in the group’s operating structure Levering the franchise Due to a high brand image and quarter integration of its global organization, Burberry can enhance consumer responsiveness more efficiently and effectively.
So the very first strategy of Burberry is to increase its franchise which lies in hands of both front and back of house operations. Intensifying non apparel development Along with garments focus is on intensifying non apparel categories to further leverage Burberry’s unique positioning design and merchandising ,expertise and iconic branding through investment in product development supply chain and marketing. Investing in under penetrated markets The focus is on new market development, in developed markets such as USA along with the emerging markets like Middle East ,India and China.
