Competitive Strategy Analysis
Even NEXT and its US partner Sears are leveraging fashion to reach new customers. In 2010, Sears launched a new brand targeting younger customers called Lands’ End Canvas, which is available online and in 24 Lands’ End Canvas shops within Sears’ stores. The company has also collaborated with UK-based fashion retailers Next and French Connection to broaden its contemporary assortment. Sears has been the exclusive US online retailer of Next branded apparel, footwear, and accessories for men, women, and children since fall 2010, and of UK Style by French Connection branded clothing and accessories for men, women, and children since spring 2011. (Kumar, 2006)
CUTTING LABOR COSTS WITH OFFSHORE SOURCING
HOT TOPICS: SOCIAL MEDIA, LUXURY BRANDS
The use of smart mobile technologies can effect social change and influence purchasing behavior. While social media are still in the early development stages, we believe they will affect the apparel and accessories industry, as we discuss below. (Kumar, 2006)
Wikipedia defines social media as “the use of web-based and mobile technologies to turn communication into an interactive dialogue.” This includes a potential “network effect” of huge numbers of participants in the conversation, which has significant implications for business. The development of the web has supported new communication tools for consumers and companies alike.