10 Brand and Retail Transformations
The past 10 years have seen several iconic brands reposition themselves. It's also been a decade for new retail segments. Below are our top transformations of markets and companies that are now unrecognisable from their 1998 incarnations.
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Re-inventing British brandsBurberry
Burberry cast off its long-held reputation as a fading British raincoat brand to emerge as an internationally successful fashion label. Its knack for reinvention, driven by CEO Rose Marie Bravo, proves brand overhaul can result in lucrative business.
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Brand profile: online retailer ASOS.comOnline fashion retail
The year 2000 saw the launch of three pioneering online fashion retailers. As Seen on Screen (now Asos), Yoox.com and Net-A-Porter have transformed the way fashion is bought, sold and presented online. Up-to-the minute product offerings (Halston on Net-A-Porter within 24 hours of the show!), fun editorial content, spot-on marketing and reliable delivery also boosted the sector.
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Vietnam and Brazil top emerging market rankingsGlobal brands
A decade ago, being a truly global brand was a luxury only the most established fashion retailers could afford. Now, achieving an international presence and a sound expansion plan is essential for growth.
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Face to face: Li & Fung Ltd's Bruce RockowitzLi & Fung Group
Institutionalised change is written in Li & Fung's DNA. Over the past decade its three-year "stretch plans" – an essential element of its business strategy – have propelled the world's largest sourcing company into distribution and retail.
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Face to face: MCM's Sung-Joo KimMCM
The German luxury accessories label MCM was the fastest-growing luxury goods brands in the mid-90s, but slowly lost steam. In 2005, CEO Sung-Joo Kim brought the brand success by targeting professional female customers and drove sales upwards to more than $150m in 2007.
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Iconix
After $3.2m Q2 losses in 2003, wholesaler and retailer Candie's needed to eliminate the risks of inventory, cut costs and leverage its core competencies of marketing and brand development. By reinventing itself as brand management firm Iconix Brand Group, it earned a $16.5m Q2 gain in 2008
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Levi's Asia: a new directionLevi Strauss & Co
Denim brand Levi's created its "engineered" jeans back in 1998, causing the traditionally wholesale-only company to gather momentum as a retailer and creator. Levi's expansion downstream has given it greater control over brand image, as it broadens out a portfolio with additional brands Dockers and Signature.
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New designer hotelsLifestyle-led category expansion
In the past decade, fashion designers have offered products and services that fill specific niches in customer lifestyle. Giorgio Armani's move into interiors with Armani Casa in 2000 paved the way for other designers to enter the luxury hotel business, including Versace, Missoni and Lacroix.
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Department stores
From Hong Kong to London and New York, department stores worldwide have ditched their staid and middle-market offerings and made an impact through designer fashion and luxury brands. Lane Crawford, Selfridges, Rinascente and Saks Fifth Avenue are just some department stores that prove to be directional and unconventional.
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Apple
Through smart design and original thinking, the once small niche computer company has reinvented itself into the world's top music supplier. With the creation of the iPhone, Apple has secured its place not only among cult computer nerds, but among fashion and design enthusiasts.
