Fashion Brand
The term fashion brand encompasses all brands in the fashion industry.
The fashion industry is marked by rapid change, and overshadowed by crises and insolvencies. Still, the fashion market is one of the most important consumer goods markets with an overall sustained positive growth curve.
What exactly is a fashion brand?
The very heterogeneous category "fashion brand" is rather diversified in terms of price segment and product quality:
- Apart from luxury brands like Hermès and Gucci, brands of the premium segment – renowned brand items or brands in the medium to low price range – are also categorized as fashion brands.
- We are also observing the expansion of the discount segment of brands like Kik, Lidl or Aldi, which address highly price-sensitive customers in the low-price segment. In this group, quality is not a major factor in the purchase decision.
- In past years, particularly reverse integrated vertical fast-fashion brands like H&M, Zara, Primark or Mango have newly established themselves. They gained prestige by reacting quickly to fashion trends. The increasing customer demand for new styles and product variety leads to shorter production cycles and micro collections. Customers are presented with new collections and products almost on a weekly basis.
Owing to increasing dynamics, globalization, and digitization, the significance of e-commerce in the fashion industry is growing considerably. Compared to other industries, the fashion market is already logging the highest online proportion. This places new demands on digital brand management of fashion brands.
Subsequently, it is enormously important for every fashion brand to present a consistent and brand-conform appearance in both the online and offline world to prevent a break in brand perception.