LACOSTE FROM ALLIGATOR TO CROCODILE Lukas Norbely Anamaria

LACOSTE FROM ALLIGATOR TO CROCODILE Lukas, Norbely, Anamaria, and Tiffany

Mission and Vision Statement ● “Sharing our vision of casual elegance, and our optimism and faith in the future, is the purpose of our business. It is the pride and passion of each person who works for Lacoste. ” ● “Our primary goal is to be the leader in the premium casual wear market. We are dedicated to achieving this ambition in the years to come. ”

Brand Audit Lacoste has not been relevant for a couple of years, solely because the brand has lost their original identity. Many of these issues have contributed to the brand’s struggle. ● ● Lacoste hired a new creative director, Louise Trotter, after the exit of Felipe Oliveira Baptista. Lacoste does not sell any of the pieces that are display during their fashion shows. Too many partnered stores in countries the brand should have company owned boutiques. Customers complain a lot about the quality of the product Lacoste puts out being sub par and almost impossible to get issues resolved through the customer service call center. S/S 2019 shown on Vogue S/S 2019 shown on Lacoste. com

Positioning Strategy Competitors: ● Alexander Wang ● Y-3 ● Comme des Garcons PLAY

What: A brand that represents a fun, youthful just like Wang and is also a trendy ready-to-wear street/sportswear style. Who: Young adults that are trendy and receive a well income. Reason: Their advantage is their attraction towards a youthful and fun crowd.

What: Yohji Yamamoto collaboration with Adidas, that is fashion forward and unique and consist of styles that are avant garde, oversized silhouette, and mainly black. Who: Potential customers consist of a combination of both Yamamoto’s and Adidas followers that are athletic and fashionable, and can afford to spend a bit more on a luxurious product. Reason: Competitive advantage is their unique silhouette and style.

What: Is a line added to Comme des Garcons that includes a new heart logo designed by Rei Kawakubo. This line consists of basic shirts and accessories in an arrangement of simple colors along with the different placements of the logo. Comme des Garcons PLAY is an avant-garde brand that offers an arrange of styles for both men and women that can be used for day time and night time. Who: Both men and women from young adults to those middle aged that are looking to wear a well made simple street style. Reason: The advantage this brand has over us is their ability to reach both the younger crowd as well as the older crowd and their versatile style arrangements.

Target Market: Demographics Men: ● ● ● Lacoste targets men from the age 18 -44 Most of the male clients are likely to be either married and or single. They can either have a kids or no kids. These individuals are all living in major cities like New York City, Los Angeles, Miami, Atlanta, or Chicago. Their incomes consist of 60 K-100 K yearly which makes them more likely to waste their disposable income on the brand. Women: ● ● Lacoste targets women from ages 18 -44 These women live in major cities like New York City, Los Angeles, Miami, Atlanta, or Chicago. They are college graduates with high paying job. Their income ranges from 60 k-100 k yearly. They have a high disposable income which make it easier for them to purchase from the brand. These women can be single or married, with or without kids.

Target Market: Psychographics Men and Women: ● The brand started out by creating sports wear for tennis players, they soon expanded their production by entering the luxury retail market. Lacoste targets sports enthusiast and fashion conscious people. These customers keep up with the latest fashion by reading magazines like Elle, Vogue, and Harper’s Bazaar. ● They are also health conscious, so they like to maintain a healthy lifestyle by going to the gym and eating clean. They are interested in their jobs, home, family and sports. They have opinions on the economy, business and politics. ● These individuals have a high spending power and don’t hesitate to splurge on a Lacoste piece. Lacoste is considered to be a lifestyle brand which customers buy into when making a purchase. A lacoste customer likes quality and value premium clothing. They are willing to pay for the quality that Lacoste has ro offer.

Target Market: Social Influences & Lifestyle ● The brand was known to have been mostly worn by people aged between late 30’s-50’s, , but with fashion trends such as streetwear, the youth has embraced the brand. ● Lacoste expanded and produced colored shirts which influenced some of the upper-class when it reached the United States. ● The Lacoste customers has been led to embrace an active luxurious lifestyle, no matter the occasion.

Brand Repositioning, Relaunching and Revitalization In an effort to revive Lacoste without losing its roots, the necessary growth strategy in order to execute the revitalization successful is co-branding. Lacoste is currently known as a department store label that can be purchased through Macy’s. Instead, Lacoste will discontinue its relationship as Macy’s account and move into being carried at luxury stockists like Saks Fifth Ave, Barneys New York, and Kith. The cobranding efforts come into effect by creating exclusive Ready-To-Wear collections with each boutique that will solely be sold at each respectable boutique to cater to each sector of the new Lacoste target market.

The Branding Process Phase Two In order to push the co-branding efforts into full effect, Lacoste will pull it’s accounts at all department stores and close down any partnership and joint venture boutiques. Lacoste will instead open company owned boutiques in major cities as well as sell exclusively at the co-branded luxury stockists. In order to market the brand’s face lift, Lacoste will do the following: ● ● ● Present a fashion show during NYFW. One year Celebrity Endorsement contract with supermodel Kaia Gerber. Micro-Influencer social media campaign with instagram influencer, Ksace. Macro-Influencer social media campaign with professional tennis player, Sloane Stephens In-Store NYFW after party at Lacoste Boutique. Digital Advertising through major platforms.

Budget Breakdown: Fashion Show Cost: $250, 000 Lacoste will show its upcoming Fall 2019 collection at the Brooklyn Navy Yard. At the show, the collections co-branded with Saks Fifth Ave and Barneys New York will be displayed. After, during the Kith fashion show, the co-branded collection will close out the Kith fashion show. At both shows, Lacoste celebrity endorser Kaia Gerber will close out the most eye catching garment of the collection.

Budget Breakdown: Celebrity Endorsement Cost: $575, 000 The celebrity Lacoste has chosen to give a 1 year endorsement contract is rising supermodel Kaia Gerber. In the contract, Kaia Gerber will walk the fashion show, post on social media wearing the Lacoste collection, participate at in store NYFW after party, and be the face of all digital platform advertising. Profile Occupation: Supermodel Age: 17 years old Instagram Following: 4. 3 M followers Past work: Chanel, Saint Laurent Omega watches, Fendi, Givenchy

Budget Breakdown: Influencer Marketing Cost: $70, 000 For influencer marketing, Lacoste will use both micro and macro influencer marketing which consist of instagram posts and appearances to the Lacoste NYFW after party. The micro-influencer is Ksace and the macro-influencer is Sloane Stephens Profile Occupation: Rapper/Instagram influencer Age: 22 years old Instagram Following: 45. 3 K Followers Past Work: AT&T, Fuse. TV Profile Occupation: Professional Tennis player Age: 26 years old Instagram Following: 379 K Followers Past Work: Estee Lauder, In. Style, Nike

Budget Breakdown: In-Store Party Cost: $250, 000 After the Kith show during NYFW, Lacoste will have an in-store party which will be by invite only. The location of the party will be at the Lacoste boutique located on Madison Avenue. All the influencers will be at attendance at the event in which all will have time to do an instagram “takeover” through the Lacoste instagram to show the party is going and what they are doing during their time at the party.

Budget Breakdown: Advertising Cost: $75, 000 With the remainder of the million dollar budget, Lacoste will use that money on advertising on digital platforms. Since the new target market is heavily reading articles and navigating through the internet it is optimal for Lacoste to advertise through the internet. The advertising efforts would include a mixture of posts on the platforms or a sponsored social media post advertising the co-branded collection.