Marketing Essay

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OVERVIEW OF COMPANY AND COMPETITORS BURBERRY Burberry Group plc is a British luxury fashion house, manufacturing clothing and fashion accessories. Its distinctive tartan pattern has become one of its most widely copied trademarks. The company has branded stores and franchises around the world, and also sells through concessions in third-party stores. Burberry became the UK's first publicly quoted luxury goods label. The company might originally have become famous for making the Queen's raincoats, but now celebrities such as Kate Moss and Victoria Beckham want the checked macs in their wardrobes. It was founded in 1856 when 21-year-old Thomas Burberry, a former draper's apprentice, opened his own store in Basingstoke, Hampshire, England. 1901 The appeared for the first time accompanied by the Latin word ‘Prorsum’, meaning forwards. 1920 The Burberry check was introduced became fashionable among the British middle-to-upper classes. By the mid-1990’s, the Far East accounted for an unbalanced 75 per cent of Burberry sales. Furthermore, the team recognized their need to address the problems associated with their inadequate control over product design and distribution arising as a result of indiscriminate licensing and distribution agreements (Fletcher, 2003). Their new strategy sought to re-position the Burberry’s brand as a distinctive luxury brand with a clear design, merchandising, marketing and distribution strategy, which would be appealing to new, younger, fashion-forward customers, while still retaining the traditional customer base(Burberry IPO Prospectus, 2002). Derived from their IPO Prospectus of 2002, it is possible to delineate the defining features of what the company described as “the repositioning of the Burberry brand”. The first initiative was to update the image of the brand by firstly changing the name from Burberry’s to Burberry. This

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