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Victoria Beckham founded her eponymous fashion label in 2008. The transition from designer muse to Creative Director of her own brand was a natural one, fuelled by a longtime obsession with fashion, a natural, meticulous attention to detail and an undeniable ability to influence. Today the brand is the modern woman's true wardrobe - versatile and wearable yet rooted in a distinctly luxury sensibility that ignites the imagination.

The collections are an adaptation of Victoria's own personal style, that intertwine with the ever-changing needs and desires of today's women to result in a carefully curated edit of key pieces - expertly cut tailoring, dresses and denim - with signature features in the form of off-kilter prints, unexpected colour palettes and premium materials.

"Making women look and feel like the best versions of themselves is truly what brings me joy. Fashion is so many things, inspiring, exciting, but ultimately it is incredibly rewarding. To see those reactions is why I do what I do." - Victoria Beckham, Creative Director Today, alongside the London atelier, offices and a flagship Mayfair store, Victoria Beckham is carried in 250 stores in 52 countries worldwide, comprising ready-to-wear, leather goods, eyewear and footwear collections, plus a long-term partnership with fitness and lifestyle brand Reebok. The brand has won critical acclaim alongside multiple industry awards, including Best Designer Brand and Brand of the Year at the British Fashion Awards.

In 2019 the house launched Victoria Beckham Beauty. Developed through Victoria's unique perspective, the brand created the products she felt were missing from her makeup bag - cleanly formulated, high performance beauty solutions for the modern individual who lives life on-the-move and to the fullest.

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About Victoria Beckham Ltd. Victoria Beckham founded her eponymous fashion label in 2008. The transition from designer muse to Creative Director of her own brand was a natural one, fuelled by a longtime obsession with fashion, a natural, meticulous attention to detail and an undeniable ability to influence.

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Beauty in Motion

Victoria Beckham Beauty is founded on the idea that beauty should complement and empower the dynamic life you lead.

When Victoria and Sarah envisioned what they wanted Victoria Beckham Beauty to be, they asked themselves- what would the most amazing luxury beauty brand look like in ten years? They concluded that the future of beauty would be super clean, perform at the highest luxury level, welcome everyone who loves beauty, help people fuel their lives inside and out, be sustainable, transparent, digital-first, cruelty-free, and created by women (naturally). This is the vision behind Victoria Beckham Beauty. We are a work in progress and a brand in motion.

Developed through Victoria Beckham's unique perspective, these are the products she felt were missing from her makeup bag - cleanly formulated, high performance beauty solutions for the modern individual who lives life on-the-move and to the fullest.

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Victoria Beckham Beauty is founded on the idea that beauty should complement and empower the dynamic life you lead - super clean, perform at the highest luxury level, welcome everyone who loves beauty, help people fuel their lives inside and out, be sustainable, transparent, digital-first, cruelty-free, and created by women (naturally).

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Since launching her womenswear line in 2008 with a range of easy dresses and slim separates, former pop-star Victoria Beckham has continued to impress critics with her expanding aesthetic, growing her brand into a global fashion label that now includes handbags, sunglasses and shoes.

In 2013, Beckham launched an e-commerce site and a year later, she opened her flagship store on London's Dover Street. Turnover from the brand has been steadily rising, doubling between 2012 and 2013 to reach over £30 million (about $46 million), with this strong performance predicted to continue. In 2017 the brand raised £30 million in funding from private equity firm Neo Investment Partners in a deal that valued the business at £100 million, and in 2018 current president of the Fédération de la haute couture et de la Mode Ralph Toledano was announced as the label's chairman.

Before she became a fashion designer, Victoria Beckham was best known to the world as a member of superstar pop group the Spice Girls. However, unlike most other celebrity-designed products, Beckham oversees all production and design aspects herself and has successfully parlayed her personal profile into a high quality fashion brand. "I want to get bigger and bigger," she told T magazine. "I absolutely want an empire."

With over 24 million Instagram followers, Beckham has attracted a cult social media following to match her expansion into a global clothing, accessories and - most recently - beauty brand. In 2017 she was awarded an Order of the British Empire for her services to the fashion industry.

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Since launching her womenswear line in 2008 with a range of easy dresses and slim separates, former pop-star Victoria Beckham has continued to impress critics with her expanding aesthetic, growing her brand into a global fashion label that now includes handbags, sunglasses and shoes.

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The brand has yet to turn a profit after more than a decade in operation, but it was back on a growth trajectory ahead of the pandemic, according to accounts published Thursday.

Its revenue increased 7 percent to £38.3 million ($52.6 million) in 2019, compared with a 16 percent sales decline in 2018. Operating losses for the fashion division also narrowed slightly to £11.9 million, a 5.5 percent improvement on the previous year.

However, the company continued to lose money, pointing to costs related to the launch of its beauty line. The accounts showed a net loss of £16.6 million in 2019, widening from £12.5 million in 2018.

The group, which installed Marie LeBlanc de Reynies as its new CEO in September 2019, said it was finally on a path to profitability before the pandemic hit. But Covid-19 provided an unexpected roadbump in the brand's turnaround plans.

To help mitigate the economic pressures of the crisis, the company received a £9.2 million cash injection from shareholders - part of which was used to pay off a £6.1 million bank loan in April. In response to the crisis, Victoria Beckham also implemented a hiring freeze, and, in September, the fashion brand restructured to help streamline the business and boost efficiency.

The company said it did not expect Brexit to have a "significant impact" on the group. Meanwhile, its new beauty brand has performed "strongly" this year according to the brand.

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Victoria Beckham's Sales Returned to Growth in 2019

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The brand has yet to turn a profit after more than a decade in operation, but it was back on a growth trajectory ahead of the pandemic, according to accounts published Thursday. Its revenue increased 7 percent to £38.3 million ($52.6 million) in 2019, compared with a 16 percent sales decline in 2018.

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A celebrity-packed front row, each season duly attended by husband David Beckham and Vogue editor Anna Wintour, Victoria Beckham’s catwalk presentations have garnered critical recognition, if not acclaim, since the former popstar took to the fashion stage in 2008.

A boutique on London’s prestigious Dover Street, a second store in Hong Kong, and approximately 400 global stockists have kept the brand visible and distributed throughout the world’s most important fashion markets. All of which should be testament to Beckham’s celebrated success, were it not for posting losses 11 consecutive years in a row.

Widening the gap

Victoria Beckham Ltd saw earnings of 35.1 million pounds for the year ending 2018, a growing loss of 16 percent on 2017. Operating losses widened even further by 18 percent to 11.7 million pounds, and the business is yet to have a profitable year in its 11 years of operations.

The company, despite not having a tumultuous past, has seen a recent shift in management, strategy and ownership, most notably by selling a minority stake for a 30 million pound investment by Neo Investment Partners two years ago. An expansion into new categories, including a makeup range launched during the last London Fashion Week, preceded the appointment of a new CEO last month. Marie LeBlanc de Reynies replaced outgoing CEO Paolo Riva in October and Ralph Toledano, the former head of the Puig group’s fashion division and current president of the Fédération Française de la Couture, was appointed Chairman just six months ago. The foremost task of the new management team is to expedite the company to profitability.

While the losses were in line with expectations, a slowdown in demand for Beckham’s fashions means the sales of bags, shoes, makeup and sunglasses will be under pressure to secure a fast track to profit.

The brand’s minimal aesthetic has struggled to capture customers with a penchant for purist luxury, who tend to shop at brands like The Row or previously Phoebe Philo at Celine. Beckham, who often touts she designs to empower women, may find it difficult to reconcile the hefty prices of a 1,500 pound cross body bag or similarly priced dress with her brand of celebrity empowerment. The cachet of a Victoria Beckham garment, despite any exceptional craftsmanship, is for many shoppers not comparable to that of a luxury house. The beauty category may prove to be the real profit driver for the former Spice Girls singer.

In October Beckham reportedly put her YouTube channel on hiatus after amassing just 114,000 subscribers. This seems in sharp contrast to the proposition for the brand to be built alongside Beckham’s personality, as chairman Toledano stated in Business of Fashion. Beckham’s personality, which is marketed to appear as equally fabulous as it is flawless, may also be a hurdle to the brand’s growth, being radically different from her popstar heydays, a time when she accrued her largest fanbase.

Despite Beckham’s admission on morning television that “I’m not trying to look any younger at all,” a phrase, perhaps, not entirely sincere coming from the plump-lipped chief clothes horse of her own label, the company is making early waves with its new direct to consumer makeup collection and blog-style beauty tips.

As a household name and the company’s most prized marketing asset, Beckham is carefully curated to wear her own label at every fashion and photographic opportunity, images which fill Beckham’s social media channels and garner world-wide coverage. While it is easy to dispense criticism, Beckham has come a long way since her fashion debut, firmly establishing her credentials as a designer and businesswoman, amassing 24 million Instagram followers, a 35 million pound turnover and management team of industry veterans. By most standards this would be classified as a formula for success.

Photo courtesy of Victoria Beckham

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Victoria Beckham, 11 years on, 11 years of losses

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A household name, Victoria Beckham’s designer business has posted losses 11 consecutive years in a row.

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Talking ahead of her London Fashion Week show, Victoria Beckham said of her collections that "I only ever put out there what I want myself". This strategy not only gives her "community" - as she called her customers - a sense that they are buying something authentic, it also gives her brand consistency.

The hard-working former pop star also launched her first beauty brand on Saturday, with a direct-to-consumer business model. She said that the people who had a sneak preview could tell it was hers from the branding and packaging alone, and she's achieved a similar goal with her clothing line. It's all very VB.

It's worth pausing to think that, while musicians and celebrities such as Rihanna, Kanye and Beyoncé launching clothing lines is now the norm, Beckham came up against plenty of cynicism when she launched hers in 2008. She has done well to give it a chic identity that bears little resemblance to her former career.

Since Victoria Beckham came back to London Fashion Week in 2018, after showing in New York for years, she has become one of the most anticipated shows of the event. Images from her collections are some of the most clicked-on. However, prestige doesn't immediately translate into profits: in December 2018, Victoria Beckham Limited reported an operating loss of £10.2m in the year to December 2017, despite a 17 per cent increase in sales.

The desire for her garments is there, though. Fans of her label swear by its combination of style and practicality and this show - held amid the grandeur and high security of the Foreign and Commonwealth offices - offered a wearable mix of eveningwear and tailoring in a fresh and surprising colour palette.

Beckham said she metaphorically chucked 70s and 80s colours "into the VB blender" and the result was a colourful, airy collection with a retro accent.

Thus 70s office-girl silk blouses in apple green and lemon yellow were paired with tailored skirts in chocolate and check. A scribble-print blouse and skirt featured black handwriting on white silk.

Neutral shades of biscuit and butterscotch appeared throughout: on trouser suits, dresses and jackets, and these were mixed up with shots of ice blue, dark red or purple. Pink cords in the new slim-flare trouser shape were paired with brown checked jackets. Safari detailing was a motif throughout, and patch pockets on a trench and blazer gave an overtly 70s look.

One of the highlights was the dresses. Loose, slightly nightgown-like silk styles with cascading ruffles came in butterscotch, imperial purple, apple green and ivory. They danced and billowed around the body in a way Beckham described as "sensual rather than sexy." She knows what her customer wants.

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Victoria Beckham's brand just got brighter

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Talking ahead of her London Fashion Week show, Victoria Beckham said of her collections that "I only ever put out there what I want myself". This strategy not only gives her "community" - as she called her customers - a sense that they are buying something authentic, it also gives her brand consistency.

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Losses widened at Victoria Beckham's fashion company, despite rising sales, in the year before the pandemic as it invested in its beauty launch, results due to be filed at Companies House have shown.

The news came as part of the wider information about the combined David and Victoria Beckham business empire, which saw the celebrity couple being paid £14.5 million in 2019. And they were also paid dividends adding up to £7.1 million in 2020.

But while the net loss for the Victoria Beckham fashion label grew to £16.6 million in 2019, both Victoria Beckham Holdings Limited (VBHL) and David Beckham Ventures Limited (DBVL) saw their revenues rising during the period.

DVBL is brand management company that controls the business activities linked to the David Beckham brand, such as the former footballer's deal with Adidas. And during the year it bought out the 33% stake that had been held by XIX Entertainment, so the Beckhams are now the sole owners of the company.

The Victoria Beckham label itself, which is owned by Beckham Brand Holdings Limited, XIX Entertainment, and private equity firm NEO investment Partners, saw revenues rising 7% to £38.3 million in the year. That happened as the company launched into beauty, expanded its wholesale operations and saw online sales rising during the year.

But the beauty launch also involved it in heavy costs and its £16.6 million pre-tax loss was bigger than the £12.5 million loss of the year before. Yet had those launch costs not been included, the loss would actually have shrunk down to £4.5 million from £10.5 million in the previous period. This showed that the firm was headed in the right direction before the Covid crisis wreaked havoc on the luxury fashion sector.

2020 will have hit the company hard with the Dover Street flagship having been forced to close during lockdowns. The bottom line will also have been affected by it not taking government money to furlough its staff during the pandemic. The company had originally intended to take the money but a publicity backlash saw it changing its mind.

Some headlines have focused on the future of the label given that the results filing also includes a 'going concern' warning. But the directors said they're focused on getting it towards break-even. And it's worth noting that Superdry's latest figures this week contained a similar warning, which its CEO dismissed as a technical requirement. The Beckham filing also comes with a statement that there's a "reasonable expectation" that the couple would continue to support the business. And the shareholders actually paid more than £9 million into it last April in order to settle a loan that was due and to support its ongoing operations during the pandemic.

Meanwhile, moving away from Victoria's business and looking at the David Beckham operation, having launched new projects such as DB Eyewear in a deal with Safilo during the year, DBVL sales rose to £16.2 million from £15.6 million. But pre-tax profits dropped to £11.3 million from £14.8 million as it donated £1 million to Unicef, took on new staff and dealt with unfavourable currency exchange issues. Profit after tax was £9 million, down from £11.5 million the previous year.

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Victoria Beckham pre-Covid losses grow, underlying progress in right direction

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Losses widened at Victoria Beckham's fashion company, despite rising sales, in the year before the pandemic as it invested in its beauty launch, results due to be filed at Companies House have shown. The news came as part of the wider information about the combined David and Victoria Beckham business empire, which saw the celebrity couple being paid £14.5 million in 2019.

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Chapter 1.

1.0 Introduction

Phau and Prendergast (2001) defined luxury brand has these characterises that are "evoke exclusivity, have a well know brand identity, enjoy high brand awareness and perceived quality, and retain sales levels and customer loyalty". For the Chinese economy, it has been increased at an average rate of 13 percent per year (wgsn-edu.com, 2002). In 2004, a total of 236,000 Chinese became millionaires (Merrill Lynch & Cap Gemini, 2005). As for luxury consumption, 37% of luxury goods are purchased in Asia (Chadha and Husband, 2006). In China Chinese luxury consumer population is 300,000 millionaires. That means Chinese consumers are playing the important role for the luxury brands as Chinese market will make or break the luxury products factors potentially (Okonkwo, 2007). Therefore, the customer usually would like to have different choices of purchasing fashion products. According to Howard and Herbig (1996) noted that " People can perceive value is a major determinant of product success: quality images are far more important than product value; high prices portray high quality." Bake (2003) indicated that some factors could influence the retailer companies entry on the other markets, for example, legal and language. Therefore, the retailers in order to get most profit from products from foreign markets, they will use two ways that are the methods for the company of entry into foreign market and have a choice of distribution channels in each foreign market (Terpastra & Sarathy, 1997). In international marketing, the entry method is very important for the fashion retailer to enter foreign markets.

Find out more

According to the global luxury consumption, it is indicated the luxury brands are successfully in the world and also in the global luxury market growth per year (Verdict, 2009). By using the theory of internationalisation and using the process of internaionalisation example of Burberry. It has strategically penetrated the Chinese market to comprehend the Chinese market. The market will have a great positive impact on the consumption of fashion goods and by highlighting their British origins and positioning themselves towards the aspirational consumers.

Chapter 2.

2.0 Literature Review

This literature review aims to address that the concept of retail internationalisation, its impact upon luxury fashion brands and the strategic operations of British luxury brands with Chinese retail market by using the examples of Burberry.

Hines and Bruce (2001) noted fashion retailers were the most "prolific and successful when it came to foreign market expansion". Unsurprisingly, the rise in academic interest reflects the increase of retail internationalisation activity as more companies seek to expand their operations overseas (Moore et al 2000).

According to Alexander and Akehurst (1995) there are six key subject areas for researchers to thoroughly address all issues concerned with the process when discussing the internationalization of retailers;

What is the internationalisation of fashion retailing?

Who are the international fashion retailers?

Where do fashion retailers internationalise?

Why do fashion retailers internationalise?

How do fashion retailers internationalise?

When does fashion retailer internationalisation occur?

2.1 Definition of the luxury fashion brand

Kapferer and Bastien said:

"Luxury is in fashion, and the fashion is for luxury."

(Kapferer and Bastien, 2009)

Luxury brands have the power of branding, which means they can influence cultures, societies and generations potentially. Traditionally, luxury brands have main core characteristics that are brand strength, exclusivity, creative, innovation, product craftsmanship, differentiation and precision, premium pricing and high quality (Okonkwo 2007). Furthermore, the other core characteristics for the true luxury brand are global reputation, strong brand image, emotional appeal, tightly controlled distribution and visibility (Jackson and Haid, 2006). For example, Gucci, the results of the strong brand image of Gucci are in several of brand's products being back-ordered to two years. The brand value has an important relationship with consumers.

2.2 What's internationalisation of retailing?

The internationalisation of retailing is defined Treadgold (Wigley et al, 2005) as having "visible" and "invisible" dimensions. The Invisible dimension has been defined as the international sourcing of products and services and the cross-border transfer of management expertise in the form of managerial policies or technical skills (Kacker, 1997). That refers to the intangible facets as opposed to the physicality of opening overseas stores. On the other hand, for the visible dimension, the fashion retailer internationalisation is the operation of retail shops within foreign markets (Hines and Bruce, 2001). Consequently, the luxury fashion brands are visible in the market.

From the report of clothing retailing UK (Mintel, 2003), there are 18 out of 20 top-selling clothing retailers have presence outside of domestic market, for instance, Burberry, it has 236 stores around world (BBC, 2010). At 30 June 2010, Burberry globally had 139 retail stores, 140 concessions (excluding Spain), 44 outlets and 97 franchise stores (Burberryplc, 2010). In China, Burberry has opened stores in 30 cities such as Beijing, Shanghai, and Wuhan (Burberry, 2010). According to Baker (2003, p.799), he indicates that because of the legal, language and logistical problems, the most successful retail is difficult to enter other markets. Even though the retail companies could be slow and difficult entry the other countries, however overseas expansion is a significant process for development of retailers. Liu and Mcgoldrick (Bcaker, 2003) indicated that the long history of international product sourcing has facilitated foreign retailing operations because relationships have already been construct with the foreign destinations that is easier to instigate the process of internationalisation.

2.3 Who are the international fashion retailers?

According to the British fashion council, the editors of the international fashion magazines, journals and fashion experts, who define characteristic of the international fashion retailers such firms:

Have an international profile in the fashion industry as evidenced in their having bi-annual fashion show in one of the international fashion capitals, e.g. Paris, Milan, London

Have been established in the fashion design business for at least two years

Named their own label merchandise

Retail merchandise either via outlets bearing the name of designer or within other outlets with two or more countries

(Moore et al, 2000)

From other definition, following Hines and Bruce (2007) the international fashion retailer can be defined into the four types:

The product specialist fashion retailers - narrow product range, clearly defined customer base

The fashion designer retailers - internationally recognized brand, exclusive positioning

The general merchandise retailers - mix of fashion and non-fashion products and large stores

The general fashion retailers- broad range of products and accessible pricing

(Hines and Bruce, 2007)

Moore and Doherty (2007) defined luxury fashion retailers as:

"â€¦ those firms that distribute clothing, accessories and other lifestyle products which are:

Exclusively designed and/or manufactured by/or for the retailer;

Exclusively branded with a recognised insignia, design handwriting or some other identifying device;

Perceived to be of a superior design, quality and craftsmanship;

Priced significantly higher than the market norm; and

Sold within prestigious retail settings."

Retailer that conform to this characterizes include Chanel, Giorgio Armani, Hermes, Burberry, Prada, Gucci, Louis Vuitton, Versace and Mulberry.

2.4 Chinese retail cultures and economy

For this stage, it will indicate the Chinese luxury fashion history, retailers and exporting in the world. By examining Chinese economy in the luxury fashion, China is playing an important role in the world of luxury fashion.

Chinese have great history, but to date most of people have not exhume it or they reclaimed it by their own understanding. Once China has recovered its culture and confidence in itself, there is no uncertainty factor that great Chinese luxury brands will appear, recreating the link with the past such as shanghai Tan (Chadha and Husband's, 2006)

$1.4 trillion economy of China is the sixth largest in the world and gross domestic product is forecast to increase 7.9% over the next five years (wgsn-edu.com, 2004). "Since the 80s, Chinese economy has increased at an average rate of approx 13per cent per year. In some coastal cities growth has been as high as 35%." (Wgsn-edu.com, 2002. Sep 04).

World trade in clothing and textiles is about $350 billion. In China, employment figure range from an estimated 19 million employed Textile and Clothing manufacture in 2005 up from 14 million in 1995 to 17963 in Mauritius. That is from the table, it also indicates employment in clothing manufacture in some countries from 1995 to 2005 (see figure 1) (Hines and Bruce, 2007). There is a reason for it that the Chinese textile and retail industries have cheap labour. On the other hand, China and Hong Kong China are the leading exporters which are significantly higher than others (see figure 2) (WTO, 2005) However, China and Hong Kong China are being relatively small importers in the table.

Twenty years ago, there was no middle class in China but now, the middle class has been more than 100 million. Currently, China represents 12% of global luxury goods purchases and will grow 26 per cent per quarter for the next four years. The current of Chinese luxury consumer population is 300,000. The number of people who can afford the luxury products will grow up 1.3 billion in the next five years. That means the Chinese consumer is important for luxury brands as Chinese market will have make or break the luxury products factors potentially (Okonkwo, 2007). The high growth rate of the Chinese economy is an amazing market for the luxury fashion products industry. Chinese luxury market is the second largest to Japanese in the Asia-Pacific region and will grow 28 per cent annually in 2010 (Wiederhecker, 2007). Furthermore China will likely play influence role in the world of fashion. The effective of the rising Chinese designers will be increased in the next decades (Okonkwo, 2007).

2.5 Market entry Strategies

Fashion retailers as the most prolific of international retailers can be are consistently recognised (Wigley and Moore, 2007). Luxury fashion brands have attracted more consistent attention and form the basis of the current work while the general fashion brands have been the focus of some academic attention (Laulajainen, 1992; Fernie et al., 1997; Moore et al., 2000; Moore et al., 2004). From Root (1987) summaries the definition of entry methods is as "institutional arrangement that makes possible the entry of a company's product, technology, human skills, management or other resources into a foreign country. Traditionally, entry methods can be classified into along risk or control continuum (Teradgold and Davies, 1998; Dawson, 1994; Dotherty, 200). According to Alexander and Doherty (2009), international retailers will use more than one method to develop their markets when they face a number of methods for international expansion. There are main methods for international retailing developing their markets:

Flagship stores: company owned, large in scale to show case the brand

Organic growth: internal expansion, likely new store develops within the existing or an integrated organization framework

Merger and acquisition: the acquisition of control over a firm in the international market

Joint venture: between a company in the host country and an international firm or two firms enter into a joint venture and enter the host market

Franchising and licensing: a business gives the authorities to the international franchisee to operate the brand. Licensing, such like a agent

Exporting/ wholesaling: products sold to an international market without really stores

Concessions: a shop within a shop, usually a department store, in the host market

Within each of these methods has advantages and disadvantages, which is chosen by a retailer on basis of its product portfolio, corporate confidence and has consequent set up cost and operational control, which a retailer needs to take into consideration (Burt, 1993; Dawson, 1993; Moore and Fernie, 2004; Quinn and Doherty, 2000; Sparks, 1996; Treadgold, 1991; Treadgold and Davies, 1988). Burt (1993). Following Simpson and Thorpes (1996) PLIN model the companies successful in foreign markets because their heritage provides them with niche differentials and internationally appealing brands as highlighted. This model suggests that retailers should do differential advantages via "product, lifestyle, image and niche differentials from their competitors.

The factors of internationalization entry methods

Goodhow and Hanz (1972) indicate that companies need to consider five factors to start planning for foreign market entry:

The environment of market- policy decision is affected by the environment of political and economic factors of the foreign market

The competitiveness of the company- affected by the scale of company, technological level and experience of internationalisation

The characteristic of the product- influenced through specialty of the production or different of production life cycle

The consideration of company's capital and budget- it is affected by the limitation of company's capital.

The cognition of inner company- the decision maker of company has the opinion towards the scale of risk for the demands of expansion foreign market

The luxury fashion company, Burberry, says it is going to buy out its franchisees in Mainland China at beginning of September (Independent, 2010). Burberry will pay £70 million ($108 million) to take full control of 50 stores in 30 cities in China, which include 9 stores in Beijing and 4 stores in Shanghai, from its franchisee Kwok Hang Holings of Hong Kong (BBC, 2010). The reason for Burberry to buy out its local franchise partner is that it will give more Burberry company control over the merchandise and how it is marketed. The chief financial office of Burberry said: "We believe we can drive more productivity with those stores." and Burberry was looking to double the number of shops in the country. She also said the country would be a "double-digit growth driver"(Independent, 2010). Furthermore, for the development of retailer expansion in the foreign country, SWOT analyses can provide they with an outline of their strengths, Weakness, opportunities and threats, which can assist in direction when they entry into international markets (See figure 3).

Burberry operates flagships in four markets that are London, New York, Tokyo and Barcelona (Moore and Doherty, 2007). Therefore Burberry did not use the flagships store method entry into China. However, for the one of the entry methods, concessions, nowadays, Luxury players have held out longest in Europe against locating in malls, which has been anathema to the retailers. However this has been preferred route to market in regions, such as China in Asia (Verdict, 2009). Similarly in Beijing both Shingkong Place and ST Plaza big department malls anchoring many luxury brands. Burberry operates concessions within these department stores throughout China.

However, Burberry will operate the flagship store in Beijing in 16th December. That flagship store will be the most great in Asia (ELLEChina, 2010).

2.6 International expansion direction

Some studies examined that the direction of expansion of specific fashion retailers is largely determined by their market position (Hind and Bruce). According to Hollander (1970) found that a focus on capital city expansion was a common trait of the internationalising luxury fashion retailers and termed the strategy the ' New York, London, Paris syndrome'. In the 1990s, as a consequence of the hardly competitive conditions within the European Union and as a result of the opportunities afforded by the demise of the USSR. Therefore Fashion retailers have focused on their international expansion to emerging markets includes China, Russia (Fernie et al., 1998)

The place of distribution refers to the areas that are make products and services available to customers. Retail channels are most effective when they meet the consumer's expectations in terms of location, convenience and product assortment (Okonkwo, 2007). For luxury brands, there is the additional task of brand protection in the distribution areas choice such as licences or franchises. However, as early mention in previous chapter, in China, luxury retailers entry the market for the place of distribution via another choice.

For an instant, The British luxury brand, Burberry, has 47 stores in Mainland China. In Beijing, Burberry operates eight stores.

Chapter 3.

3.0 Luxury brands in the world

3.1 Global luxury consumption

During the last few years, the luxury market has sustained growth. The luxury market has grown from $20 billion to $68billion from 1985 to 2000 in spite of the September 11 attacks and other events disruptive to global trade (The Economist, 2002). Even though some factors can influence the consumption of luxury brand in the market, which include image, quality, store atmosphere (Deeter-Dchmelz et al, 2000). However, Global consumers spend on luxury brands still grow 102.5% over 2003 to 2008 in $. In the euros, the global luxury market grew by 41.8% to â‚¬224.5bn over the 2003 to 2008, with a growth slowdown becoming evident in the latter half of 2008 because consumers expenditure on luxury brands slowed under the impact of the global financial crisis (see figure 4) Furthermore, the luxury goods sector has become increasingly more internationalised in recent year (see figure 5) (Verdict, 2009).

3.2 Burberry in China

Thomas Burberry created Burberry in 1856 in Basingstoke, England when he opened a store to sell men's outwear, soon becoming known for the development of a fabric called "gabardine". During the First World War, Burberry continued to develop the officer's raincoat named the "Trench coat"(Moore & Britwistle, 2004). Burberry is a global luxury brand with a distinctive British heritage, core outerwear base and one of the most recognized icons in the world. In China, after Burberry bought its franchisee back from Kwok Hang Holdings of Hong Kong (BBC, 2010). According to Burberry Group PLC (2010) Burberry plans to open about 10 stores in China in the current financial year when applying global marketing, retail, merchandising and IT disciplines to drive store productivity. From Angela Ahrendts, Chief Executive Officer commented:

" The acquisition of Burberry's store operations in mainland China will allow us to further leverage our proven brand and business strategies in this high growth luxury region. With a solid foundation of 50 stores across 30 cities, operational expertise and strong brand momentum, this is an optimal time for Burberry to integrate this business."

Chinese market is an exciting market for the British luxury brand, Burberry. Furthermore, Burberry also plans to add 66 stores and 44 Chinese outlets in China by 2012 (Independent, 2010). In the other hand, According to Burberry annual report (2009) the revenues of Burberry were up 30% in Asia-Pacific and in 2009 to 2010, the retail and wholesale revenue were 24% in Asia-pacific includes China. (see Figure 6)

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Chapter 4.

4.0 Methodology

4.1 Introduction

This chapter will definite the relevant methods of research that proceeds to give the most accurate findings for the aim and objectives of the project that have already been discussed. A vary of research methods will be examined at individually. After identify all the methods a few approaches will be selected for examining the retail internationalisation of British luxury fashion brands into Chinese market.

4.2 Research approaches

According to Proctor (2000) indicated "Qualitative research examines the attitudes, feelings and motivations of products users." Qualitative research is characterised by small samples and this has always focus on criticism. Qualitative research has advantages to grow in popularity. Firstly, it is much cheaper than quantities research. Secondly, an understanding of customer attitudes and motivations is produced a good mechanism by Qualitative research. Thirdly, it can improve quantitative research efficiently. Otherwise, qualitative research cannot provide samples for representative of the target population of the research.

Quantitative research is focused with measuring elements of a market or the population of consumers marking up the market. This contains 'soft' phenomena such as consumer attitude as well as market size, brand shares and purchase frequencies etc (Hague and Jackson, 1999). Quantitative research is a large sample size and it use statistical to analysis (Proctor, 2000).

4.3 Sampling

The definition of sampling is from Chisnall (2001), it is concerned with the study of the relationships exiting between a population and the samples drawn from it. Proctor (2000) indicated sampling, some so-called census information is in fact obtained via sampling. That means computer assisted statistical procedures make it possible to obtain useful information about the population through questioning only a selected sample of persons.

There are two main types of sampling methods according to Chisnall (2001)

Probability samples- it is different between the sample value and the true value of the population surveyed.

Non-probability samples- it require certain percentages of the sample to be women or men, housewives under thirty or a similar criterion.

4.4 Survey

The primary data is indicated that asking people questions about their knowledge, attitudes, preferences and buying behavior (Kotler et al 2002).

According to Proctor (2000) explored some of the various method of primary data through surveys:

Postal surveys

Personal interviews

Telephone surveys

Completely self-administered surveys

Panels

Omnibus studies

4.5 Questionnaires

A Questionnaire is an important stage of the total research methods and its preparation and administration demand considerable professional expertise. It obtains specific information about a defined problem so that data result in a better appreciation of the problem after analysis and interpretation Chisnall (2001).

According to Hague and Jackson (1999) noted purposes for the questionnaires. Firstly, primary role is to draw accurate date form respondents. Secondly, they provide structure to interviews. Thirdly, a questionnaire is to provide a standard form on which facts, comments and attitudes can be written down. Finally, questionnaire facilitates data processing.

Question can be classified into two types that are open-ended question and closed questions. Open-ended question is also known as 'free answer' or 'free response'. The respondent is considerable freedom in phrasing an answer, which may be lengthy and detailed, and in his or her own words. On the other hand, closed questions are identified as calling for responses, which are strictly limited. That means he or she can choose alternative replies from they are expected to select an answer corresponding their on a particular subject (Hague and Jackson, 1999). Survey questionnaires are applied in different ways such as telephone interviews, formal structured personal interviews and self-administered studies (Proctor, 2000).

4.5 Observation

According to Proctor (2000) indicated observation is a drawback of the survey method. It obtains much of the information is based on interviewees' statements describing what they have done or expect to do in the future. Observation includes the personal or mechanical monitoring of selected activities. Chisnall (2001) said observation may be either participative or non-participative as indicated in the receding section. Participative observation would seem to have very limited application in marketing research. On the other hand, non-participative widely used in scientific studies and termed the 'classical method of investigation' has several applications in marketing research. Hague and Jackson (1999) noted that observation is used in shopping studies, especially in stores. It is used to find out how things are done in practice.

Observation can classified into these stages for the in-store environment:

Distribution

Shelf price

Shelf facings -reported in number and share

Shelf location

Display activity

Presence of point-of-purchase material

(Proctor, 2000)

4.6 Focus group

A focus group is a common form of a group interview. The aim of focus group is to learn and understand what people have to say about a topic and understand their arguments. The purpose is to discover how it forms part of their lives and how they feel about products, idea or organization.

Focus group can be classified into three types that are exploratory groups, clinical focus group and employing focus group. Exploratory groups method is often used by focus group and helping to define the problem precisely. Clinical focus groups are used as true motivations and feelings of a person are subconscious. Employing focus groups provide information and data about problem by the mechanism of group dynamics. (Proctor, 2000)

4.7 Interviews

According to Chisnall (2001) defined as a conversation directed to a definite purpose other than satisfaction in the conversation itself. An interview concerned with a purposeful exchange of meanings and interaction between the interviewer and the respondent. The quality of the interview depends on the interviewer developing a relationship with the answers, which will encourage good communication.

5.0 Conclusion

Tungate (2008) indicated luxury brands have identified opportunities in Asia as a whole, everyone wants to talk about China. And also, Dickson Poon, the Hong Kong entrepreneur who owns Harvey Nichols, said: "China definitely has the potential to become the largest luxury goods market in the world." Poon says that a number of Chinese with the wherewithal to buy mid-price consumer goods has reached 300 million. The Chinese is already worth an estimated US$550 billion. The people frequently travel for shopping not only to Hong Kong, they will go to further afield such as Beijing, Shanghai, Shenzhen, as there place is a new wealth. Therefore, British luxury brand, Burberry successful entry into Chinese market. According to the data and information as mentioned in previous sectors indicated Burberry is good example of British luxury brand in Chinese market even though Burberry spent £70 million ($108 million) to take full control of 50 stores in 30 cities in China. Like Angela Ahrendts, Chief Executive Officer said: "Chinese market is an exciting market for the British luxury brand."(Burberry Group PLC 2010) So, Burberry is developing in Chinese market constantly, and they will open the most largest flagships store in Beijing soon as mentioned in previous sector.

The aim of this project is to understand the retail internationalisation of British luxury fashion brands into the Chinese market. Therefore, objectives will be achieved by using both primary and secondary research methods to examined the retail internationalisation of British luxury fashion brands into the Chinese market. The literature review includes extensive secondary research from published authors of books, journal articles etc. to provide an examination of theoretical work. However, this project would benefit from the following methods of research have been selected as the best approaches to gain the most accurate findings.

Index.

Figure 1.

Source from: Bruce M. and Hines, Fashion Marketing contemporary issues, pp. 3

Figure 2.

Source from: Bruce M. and Hines, Fashion Marketing contemporary issues, pp. 5

Strengths

Gross margin increased from 52.1% in 2008/09 to 59.7% in 2009/10

Annual sales of £1280m

Retail revenue is £749m

Authentic British heritage

Its founding in 1856 by Thomas Burberry

Globally recognized icon portfolio e.g. trench coat, trademark check

Top 100 global brands

Weaknesses

Profit fell from £62m to 25m in1998

The foreign group out of control

Over-reliance on a number of key product suppliers

Burberry over-relies upon licensees

Opportunities

Enhance consumer responsiveness

Operate more efficiently and effectively

Upgrading existing stores

Execution of the global buy

Threats

Competition from other luxury global brands such as Chanel, Gucci

Burberry could suffer it is supply chain is unable to produce

Burberry may be unable to control its wholesale and licenseesFigure 3 Burberry SWOT analyses

Figure 4.

Source from: Verdict (2009), Global luxury retailing, pp.23

Figure 5

Source from: Verdict (2009), Global luxury retailing, pp.24

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The Internationalisation Of Luxury Fashion

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Phau and Prendergast (2001) defined luxury brand has these characterises that are "evoke exclusivity, have a well know brand identity, enjoy high brand awareness and perceived quality, and retain sales levels and customer loyalty". For the Chinese economy, it has been increased at an average rate of 13 percent per year (wgsn-edu.com, 2002).

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Internationalization describes designing a product in a way that it may be readily consumed across multiple countries. This process is used by companies looking to expand their global footprint beyond their own domestic market understanding consumers abroad may have different tastes or habits.

Globalization is the spread of products, technology, information, and jobs across national borders and cultures. In economic terms, it describes an interdependence of nations around the globe fostered through free trade.

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Luxury store portfolios will be vastly different in five years’ time, as brands pivot away from waning American and European locations to chase cash-rich millennials in Asia. Luxury brands are opening fewer offline locations overall, cutting spending and renegotiating leases to limit the damages brought by Covid-19. The exception is in China, where new stores are needed to meet the demand of high-spending luxury customers.

Bain expects Chinese local spend to account for up to 28 per cent of global luxury consumption by 2025, up from 11 per cent in 2019, and brands are planning to change their retail footprint accordingly. China, Japan and South Korea are the three markets of focus for OTB, parent company of Diesel, Margiela and Marni, as they are seen to have the greatest potential payoff, says CEO Ubaldo Minelli. “We will increasingly shift physical retail investment to China and Asia Pacific,” he says. In three years, Minelli would like Asia Pacific to account for 60 per cent of the business.

Roberta Benaglia, CEO of Italian brand MSGM and asset management company Style Capital, says strategic focus on Asia, which includes the planned opening of 30 stores in the region over the next four years, remains valid and “will certainly be the strategy on which we will focus for the future”.

“China is absolutely taking a priority,” says Andrew Maag, CEO of luxury menswear label Dunhill, adding that the brand does not plan to open stores in America and Europe in the near future.

“All the luxury brands I talk to are focusing on China. It's the one bright spot in the world,” says Nick Bradstreet, managing director of Savills Hong Kong.

This marks a turning point in how brands had approached Chinese consumers before, when they used to make more than half of their luxury purchases abroad, sustaining the importance of luxury tourist destinations like London and Paris. With 73 per cent of Chinese luxury consumers planning to convert half of their annual abroad luxury spend back to China in the next year, per Boston Consulting Group, China is bound to see an uptick in retail luxury investment at the expense of Europe and the US. Over the past 10 years, industry leader LVMH has gradually shifted its retail centre of gravity towards Asia Pacific. The region (excluding Japan) now accounts for almost 30 per cent of the conglomerate retail footprint, from 19 per cent in 2009, and Bain estimates that Asia’s luxury market share, defined as China, Japan and the rest of Asia combined, will reach 54 per cent of the global market by 2025. Europe and the Americas will both decline from around 30 per cent to 22 to 24 per cent.

“We are going to see a relocation of investment away from some of the more mature markets and see a reinvestment in the Chinese market because of the surging consumption there,” says Joëlle de Montgolfier, executive vice president of global consumer products, retail and luxury practices at Bain & Company. “The store footprint will have to rebalance from the mature markets into the Asian region.”

The new retail map

In 2019, China saw almost seven per cent of luxury retail global openings, more than the Middle East, Australia and New Zealand combined. Beijing, Shanghai and Shenyang remain the top three markets in number of premium luxury brand stores, but cities in China’s Greater Bay Area like Shenzhen, Guangzhou and Xiamen are well positioned to receive luxury capex going forward, says Bradstreet. Sanya, a preferred domestic destination on Hainan Island in the South China Sea, is also piquing the interest of luxury players as an offshore duty-free destination and increasingly attracting domestic tourism. Lower-tier cities, however, still lack the high-quality developers luxury retailers trust with their endeavours, says Bradstreet, and expansion will remain focused primarily on first- and second-tier cities.

Vietnam, powered by a young population, growing middle class and growing infrastructure, should also be on the radar. Emerging markets in Asia and the Middle East will also benefit by being less over-retailed than North America and Europe, says Garrick Brown, vice president of retail research of the Americas at Cushman & Wakefield.

Sanya International Duty Free City, operated by China Duty Free Group, spans for 120,000 square metres and gathers nearly 300 international brands. Costfoto/Barcroft Media via Getty Images

Hong Kong, vexed by socio-political uncertainty, closed borders and a second wave of Covid-19, will remain a weak spot for luxury retail in Asia Pacific. “Everyone views it as a sort of fundamental shift this time,” says Bradstreet, comparing the current situation with previous challenging times for retail, like Occupy Central in 2014. Bradstreet expects brands with multiple stores in the city to drop at least two or three locations as retail sales remain low, rent remains high and mainland consumers remain across the border. “The general consensus is that Hong Kong retail sales, in the future, will end up somewhere between 30 per cent or 50 per cent of what they were in 2018,” he says.

In the Western hemisphere, the US market is expected to fare worse than Europe. “The United States is a great unknown today,” says OTB’s Minelli, listing a series of reasons including consumer crisis, weak department stores and wholesale, Covid-19 and the upcoming presidential elections. OTB has assumed a wait-and-see approach towards the market at least until 2021. Benaglia, speaking of luxury in general terms, sees a reduction in the weight of the US and a longer recovery path for the market. “If I have to think of a worse situation than America, I honestly think about Hong Kong,” she says.

Digital clienteling and local consumers

Brands, facing critically low tourist rates, are rethinking their approach to stores in order to be as relevant as possible to local consumers. That strategy includes continuing digital initiatives born during lockdown as stores remain open to maintain relevance.

During lockdown, Dunhill launched an outreach programme on WeChat, which allowed sales assistants to send an edited assortment of products to customers and finalise the transaction remotely. Now that the stores are opening again, Maag says that the digital clienteling is helping in assorting the stores correctly. Similarly, he says, the brand’s launch on Tmall at the end of September and the consequent access to consumer data will help determine its physical strategy. “Having the right number of stores for your local consumer is essential,” he says.

Police set up cordon during a protest at the International Finance Center shopping mall in Hong Kong in April. Anthony Kwan/Getty Images

“The most important change that is required is to be relevant to one’s local clientele,” says OTB’s Minelli of the post-pandemic era, adding that the group is working towards giving to Chinese consumers in China the same offering, in terms of breadth of offer and pricing, that they were used to finding in Europe.

“If we don’t find a way for Chinese consumers to buy in their country today what they were buying in Europe [before], we risk that the algebraic sum gives a minus,” he says.

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Brands will focus investments in APAC and work on maintaining their presence in Europe, as the United States and Hong Kong drop into the background.

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Despite a drop in Chinese inbound travel during Covid-19, the "influencer country" remains an important entry point to the rest of Asia, as luxury brands continue to invest in direct operations and new digital channels.

South Korea's status as the trendsetter for Asia is under threat from a vast drop-off in Chinese tourists and the fading glory of K-beauty, but luxury brands from Louis Vuitton to Mulberry are betting the country will recover faster than most.

Only 1.2 million inbound Chinese travellers are predicted for 2020, an 80 per cent decline, according to Fitch Solutions, the emerging market analysis firm. Any recovery will be very gradual, and won't reach 2019 levels until after 2024, Fitch Solutions forecasts. South Korea's luxury goods market is expected to climb 0.1 per cent to $12.7 million in 2020, per Euromonitor.

South Korea has long held a potent mix for luxury brands as an influential trendsetter nation thanks to an endless fascination with K-pop stars and Korean popular culture across Asia, high local and tourist demand and government backing for foreign operators. Despite being dwarfed by neighbouring Japan and China, it's become a popular destination, but a longer-term dip in Chinese tourism is putting that at risk, especially as Chinese consumers look to new countries for trips.

"The impact of Covid-19 on Chinese travel to South Korea is short-term, but Chinese tourists are less interested in travelling to South Korea, and the change of spending power of Chinese tourists to South Korea from strong to weak is long-term," says Meng Shen, the founder of boutique investment banking firm Chanson & Co in Beijing.

Chinese tourist numbers to South Korea "will definitely take a hit in 2020 due to Covid-19 directly translating into lower sales", says Suresh Sunkara, retail analyst at GlobalData.

South Korea was "a relatively unexplored market" for international brands compared to its larger Asian peers like Japan and China until recently, he says. Brands are looking to the country as a launchpad for direct operations in Asia, as "a large volume of Chinese travellers to the country and the high spending capacity of these travellers gives an additional advantage to luxury growth", he says.

Often brands use South Korea as a test bed for entering Asia because of "the rapid adoption of new brands and new trends", says Dr Henry Chin, head of research at CBRE.

In the backdrop is President Moon Jae-in's new five-year policy to shift South Korea's economy to an "income-led growth" system, which includes reducing the administrative burdens faced by foreign companies, boosting its appeal compared to countries like China, whose landscape - dominated by domestic firms operating in a tight matrix of political influence - makes it difficult for foreign companies to break in, says Brice Dunlop, a research analyst at Fitch Solutions.

President Moon Jae-in, has also taken a hard stance against chaebols since his arrival in May 2017. Chaebols, or Korean conglomerates like Lotte, Hyundai, Shinsegae, LG LF and Samsung, dominate the market due to their strong financial capability and large distribution network, says Chin. They know the local market and assist in passing import and distribution agreements, says Dunlop, of Fitch Solutions. "It's a sound entry strategy." They also help global brands secure a "nice location" for their stores, because of their power to negotiate, says Hosung Nam, Samsung C&T's manager, who manages Lemaire and Ami.

But going it alone, gives more control and profitability for brands than local partnerships. Mulberry, which entered South Korea in 2006 with local franchise partner Shinhwa Korea, now has 20 stores across the country, making it the brand's biggest retail market in Asia. Shinhwa Korea was a good fit, because "they understood and respected our DNA when building the brand in the region", says Mulberry CEO Thierry Andretta. But in July, it took back full ownership to harness the potential of its second biggest market outside of the UK. Asian sales showed double-digit growth in 2019 (it does not break out revenue by country). It was time to "employ a dedicated team to lead the next stage of growth in the market".

Seoul's position as a trendsetting country isn't going away, commentators suggest. "Its energy and creativity, particularly in film, pop music and fashion, has made it a beacon in Asia and the rest of the world," says Alvin Chan, global executive creative director for integrated retail and e-commerce at Cheil Worldwide, Samsung's marketing arm. "Even China and Japan look to Korea for inspiration. Many luxury brands also see it as a trendy 'influencer' country and that has a halo effect for the region."

French contemporary brand Ami opened a store in a luxury mall in South Korea in April, and despite the slowdown plans to open another August. Last month, British fashion label JW Anderson opened its second-ever store, a Seoul boutique, and leather-goods company Mulberry continued with its twentieth store in the country. Late last year, Louis Vuitton opened a new flagship designed by architect Frank Gehry in the Gangnam district.

Reaching a digitally savvy market

There's also huge potential in e-commerce. Even prior to Covid-19, South Korean consumers did most of their shopping online, says Sunkara. Korea is the world's fifth-largest e-commerce market and is forecast to become the third-largest after China and the US within five years, according to Euromonitor International. But global brands must invest in local social and search strategies in order to reach one of the world's most digitally savvy consumers.

SEO on local platforms like Naver, which consolidates searches and also facilitates payments, is key. Google isn't widely used. "The average South Korean will only trust your brand if it's listed on Naver," says Chan.

Kakao - South Korea's largest mobile messaging app, with almost 50 million global monthly active users - lets users create dedicated pages on its platform, similar to WeChat, and is also an important channel for brands. Brands can either add a post to their page for free, or send a direct message to their followers (the cost varies depending on the number of followers, but it can cost about $9,000 to push one message to 125,000 followers).

Chanel has amassed 759,400 followers on Kakao. Other luxury brands, like Hermès and Louis Vuitton, have held off, given doubts over the lack of exclusivity. The app's value for luxury brands is to manage the customer relationship and integrate the online and offline experience, Nam says.

"These social media platforms are key [for brands] as they act as a place for millennials and Gen Z to 'flex' their luxury purchases," adds Dunlop. However, it's difficult to entice luxury players unless there are luxury-specific services, which is why China's Alibaba and JD.com launched the Luxury Pavilion and Toplife, respectively. These platforms also provide Chinese consumers with a one-stop shop for Korean products.

While South Korea might be a long game for luxury brands investing in direct operations and new digital channels, some experts believe investment in the region will pay off. South Korea and the broader Asian market is forecast to experience a stronger recovery thanks to demand from the Chinese middle class, an increased appetite for luxury goods among millennials and Generation Z, and the digital channel's continued maturation, Dunlop says. Its reputation as a tastemaker helps.

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Is South Korea's star fading? Luxury thinks not

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Sign up to our newsletter for a truly global perspective on the fashion industry Despite a drop in Chinese inbound travel during Covid-19, the "influencer country" remains an important entry point to the rest of Asia, as luxury brands continue to invest in direct operations and new digital channels.

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Merchandising Manager

diff line £300 average rrp
mainline average £900 rrp
restructure and two brands combined to make an average rrp of £500

exploration of who the customer is, 2 lines had a different client base
trying to find the 'new consumer'
journey of self discovery
2/3 seasons trying to find who this is
"bit more unbuttoned, not so done up, more casual"

old vvb line saw ganni,  red valentino as competitors
main line was celine, gucci, prada etc
new ones will be jaquemus, stella, isabel marrant

brand needs a stronger message about who its for
'fashion needs a message'
needs to align with own personal values more than just clothes

larger sizes didnt sell, main size run is 4-14
talks about empowering women, but doesnt feel like it really does this, needs to be more inclusive.

core product would be dresses, represent 25-30% of sales (££)
swinging towards casual pieces, denim is growing
VVB started as jeans brand
volume is jersey and mainly tees

mission statement:
creating a lifestyle for women, empower women, all RTW allows them to dress up or down, Reebok for sportswear, beauty line.
Lifestyle brand to empower women
bring everyday good wardrobe for anyone and makes them feel confident.

well stocked in asia, department stores.
dont connect with the asian consumer, different culturally, sizing etc.
need to know this customer better before opening stand alone
best way they do it atm is via wholesale partners
big problem with oversized,
picking up there atm, very competitive
brand recognition is v important
brand driven even if logo isnt visible
"beckham" is v well known, but VB as designer isnt in asia

marketing will be more premium as opposed to high luxury, will be visible, all be under one umbrella

best way to launch a brand; follow word of mouth but digitally
british heritage is major in asia
seeded product with asian influencers with big followings, really blew up fast
consumers saw their faves influencers with product and wanted it
this lead to usa then europe

isnt sustainable atm,
they want to push it, slowly getting there every season product becomes more sustainable
issue is because shes in the public eye, until she's got it done perfectly, she doesnt want to go public in fear of backlash
rework a lot of previous season stock

asia is a more exciting market for the brand
this would bring more ideas about pushing boundaries of design, asia brings a more creative way of dressing

bringing back accessories, bags etc are a key driver,
VB did have bags in the collection, brand recognition wasnt there for price point
NOW the opportunity is there, for a contemporary accessories collection, will be in house
need bag shapes that are distinctive to the brand, market is crowded need something new
exploring over seasons what works and what doesnt

needs a separate ig and social media for the brand, having her personal and business in one is confusing for consumer

opportunity for home collection
did sell when it was done, how far do you take it?? versace home for example

target consumer:
unsure who it is atm but the main target is:
successful women, well payed, independent women, strong mind, knows what they like, no age bracket, likes to have easy to wear garments tailored and well fitting, good fabrics, wants to dress up in the evening for drinks dinner etc.
women that love to have a good wardrobe they feel confident in.

100% of pride product sales go to AKT charity

product has held back expansion into asia as it wasnt right
need  the right goods to sell
spend more time touring asia, getting a feel for the place before going to launch
good collection and good marketing strategy

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The pandemic shone an unflattering light on the fashion industry, as many brands' panicked rush to cancel orders cascaded through the supply chain. The impact fell hardest on the vast workforce of largely female and poorly paid workers who labour in fashion's factories.

Reports of mass layoffs, wage theft, union-busting and destitution for many who work in the industry sparked outrage among consumers and prompted brands to redouble commitments to sustainable and ethical business practices.

But more than a year since the start of the pandemic, those claims exist in an accountability vacuum, with brands still providing little information to back them up, according to Fashion Revolution's annual Fashion Transparency Index.

Given "the devastating impact that a lot of brands' order cancellations have had on their suppliers and their workers, I really thought that this would be something that was addressed upfront by more brands," said Sarah Ditty, Fashion Revolution's global policy advisor and author of the Fashion Transparency Index report. But "we actually found very little disclosure."

The annual report analyses public disclosures to rank 250 of the world's biggest fashion companies on their environmental and social performance, commitments and impact in their own operations and supply chains.

On almost every count, consistent and comparable information that would allow consumers, investors and regulators to understand how the industry is performing remains unavailable, the report found.

Brands are scored out of a possible 250 points, but no brand achieved above 80 percent this year. The average overall score stood at just 23 percent, unchanged from 2020, in part because after six years of assessment Fashion Revolution has tightened its criteria to put greater emphasis on information that demonstrates how brands are implementing policies, rather than on whether they simply have the policies at all. That also helped double the number of brands who scored no points at all compared to last year. Fashion Nova, Tom Ford, Tory Burch and Max Mara, were among the 20 brands to fall into this category.

Though brands are under increasing pressure to demonstrate they are treating suppliers fairly, honouring contract terms and negotiating prices that can support fair and stable wages in the wake of the pandemic, they provide almost no information on their purchasing practices, the report found.

Just 18 percent of the world's biggest brands have publicly shared data on order cancellations, and even fewer (14 percent) disclosed the level of discounting they applied to supplier payments over the course of last year. Ninety-nine percent of brands still do not disclose how many workers in their supply chains receive a living wage.

Diversity and inclusion is another area where the report found high-profile commitments are not backed up with tangible information. While many brands rushed to make sweeping statements of solidarity and commitments to address institutional racism over the course of the last year, only 12 percent of those profiled in the Index were found to have published details about the actions they have taken to promote racial equality.

Brands are providing little information about how they are tackling environmental issues, too. For instance, though most of fashion's environmental impact takes place in its supply chain, most brands only disclose information about emissions in their own operations.

"[Given] the urgency of the climate crisis, [and] how many big brands are talking about environmental issues, we thought we'd see more concrete data being shared about brands environmental impact," Ditty said.

In some cases, there are signs of progress.

Italian retailer OVS displaced H&M as the highest-scoring brand with a score of 78 percent, a 44 percentage point increase from last year. Gucci became the first luxury brand in the Index's history to feature in the top 10 with a score of 56 percent, reflecting in part increased transparency about its suppliers. Meanwhile, ultra-fast fashion giant Boohoo and sister brand Pretty Little Thing jumped from a score of 9 percent to 20 percent, on the back of steps taken following a scandal over labour abuse in parent company Boohoo Group's supply chain last year. The brands still came in below the average score of 23 percent.

Supply chain transparency in particular has increased, amid mounting concerns over forced labour and renewed scrutiny of how and where brands are producing their clothes. Nearly half of all brands now disclose finished garment suppliers and 19 brands, including luxury players Zegna, Gucci, Fendi and Prada Group, did so for the first time this year. Disclosure is less robust deeper into the supply chain, however, with only 27 percent of brands publishing some of their processing facilities (such as mills and dye houses) and 11 percent providing any details on raw materials suppliers.

"Progress has been made but it's still too slow," said Ditty, who pointed to the need for greater regulation of the industry to drive necessary change. "We need legislation to move the laggards."
Related Articles: Fashion's Long Road to Transparency When It Comes to Social and Environmental Transparency, Fashion Continues to Fall Short Fashion Industry Still Failing on Transparency

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Fashion's Progress on Transparency Remains Slow

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The pandemic shone an unflattering light on the fashion industry, as many brands' panicked rush to cancel orders cascaded through the supply chain. The impact fell hardest on the vast workforce of largely female and poorly paid workers who labour in fashion's factories.

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The tote bag

A transseasonal must-have, the tote allows room for experimentation, highlighting its versatile appeal. Explore XL constructions to enhance its carryall qualities for the #futurecommuter and #beyondthebeach. Refined craft details are key, as seen in the colourful recycled fabric patterns at Chloé and the woven tote at Tod's. Continue to invest in #modulardesign as functionality maintained relevance during 2020, as confirmed in the seasonal Buyers' Debrief.

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Sogongno63, Jung-gu, Seoul

Traveling by Public Transit
SUBWAY
Hoehyeon Station, Subway Line 4, Exit 7
BUS
A : 103, 105, 149, 151, 152, 162, 163, 201, 201, 202, 261, 262, 406, 408, 500, 701, 704, 8000, 7021, 7022, 5007

B : 104 ,401 ,504 ,7017 ,6001 ,6015

C : 143, 406

D : 104 ,105 ,263 ,421 ,507 ,604 ,7011 ,6015

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Introduce | Main - Shinsegae Department Store

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South Korea is a consumer society. Purchases not only serve the primary needs but also for image and status reasons. The economic slowdown and the high level of debt have pushed some Koreans to pay attention to their spending, even if luxury goods are still trendy. Products attracting the most consumers are successful brands where detailing is visible. Consumption is used to make a statement. In general, purchases are made in department stores, shopping centres but also in new types of stores (example: food retailers).

Korean consumers are not loyal to brands, they tend to be tech-savvy and concerned with brand names. Koreans are very connected. As a matter of fact, more than 98% of South Korean households access the World Wide Web daily and over 85% of the Korean population owns a smartphone. Online shopping is very democratised. In 2019, 88.5% of the nation’s population use e-commerce platforms, and this is expected to rise to 94.4% in 2023. The use of the internet also makes it possible to search for information on a product before picking it up in a store. Social networks are used to explore, review products and buy. Influencers and testers of known products are influential in consumer decision making. Consumers are increasingly less attracted to domestic products while purchases of foreign products are growing.

South Koreans tend to change their consumption behaviour.  Koreans are increasingly looking for leisure free time. Consumption friendly to the environment is not yet fully widespread, even if it developing. A new group of consumers has emerged, insisting on “green labels” and hunting for eco-friendly, or organic and natural alternatives. Concerns for the environment are a little stronger among young people. There is a second-hand market in South Korea that is developing, especially with flea markets and internet exchanges. The collaborative economy is present and growing in South Korea.

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Consumer Profile

South Korea's the population is ageing very quickly, the median age is 44.8 years old. While only 14.8% of the population is under 18 years old, 67.8% is between 18 and 64 years old and 17.5% is above 65 years old (Data Reportal, 2022). The population is growing at a rate of 0.1%, according to the latest data provided by the World Bank. Households have an average of 2.4 people in 2021 (Kostat). 27% of households live alone, 48% of households are composed of 2 or 3 people, 24% of households of 4 or 5 people and only 1.5% of households have more than 6 members (UN, latest data available). The gender ratio is 1 man to 1 woman with 81.5% of the population living in urban areas (Data Reportal, 2022). The population is concentrated in the non-mountainous lowlands: the Gyeonggi province around Seoul is the most populated while the Gangwon province is the least dense. The main cities are Seoul, Busan, Incheon, Daegu, Daejon, and Gwangju. The level of education is very high. In Korea, 89% of adults aged 25-64 have completed upper secondary education, higher than the OECD average of 79% (OECD, 2020). Moreover, the population with tertiary education aged 25-34 year olds is nearly 70% in 2020, far above the OECD average (45%). The most active occupations in the labour force concern administration and accounting, then salespeople with kitchen and restaurant staff. Then come administrators, office workers and farmers.

Purchasing Power

The GDP per capita PPP is $ 45,225.8 in 2020 (World Bank). In Korea, the average household net-adjusted disposable income per capita is USD 24,590 a year, lower than the OECD average of USD 30,490 a year (OECD, 2020). A significant gap exists between the richest and the poorest: 20% of the population earns more than five times more than the lower 20%. In addition, the average salary in Seoul is among the highest in Asia, currently at KRW 2.9 million, or around USD 2,275 (Statista). In terms of employment, 66% of people aged 15 to 64 in Korea have a paid job, which is the same level as the OECD employment average. The Gini index on income inequality is estimated at 0.34 and stable, but gender inequality is among the highest among OECD countries. Some 75% of men are in paid work, compared with 57% of women. The gender pay gap in Korea is the highest among OECD countries at 31.5% in 2020, contributing to making working life for women in Korea unappealing.

Consumer Behaviour

South Korea is a consumer society. Purchases not only serve the primary needs but also for image and status reasons. The economic slowdown and the high level of debt have pushed some Koreans to pay attention to their spending, even if luxury goods are still trendy. Products attracting the most consumers are successful brands where detailing is visible. Consumption is used to make a statement. In general, purchases are made in department stores, shopping centres but also in new types of stores (example: food retailers).

Korean consumers are not loyal to brands, they tend to be tech-savvy and concerned with brand names. Koreans are very connected. As a matter of fact, more than 98% of South Korean households access internet daily and over 85% of the Korean population owns a smartphone (Data Reportal, 2022). Online shopping is very democratised. Around 90% of the nation's population use e-commerce platforms, and this is expected to rise to 94.4% in 2023. The use of the internet also makes it possible to search for information on a product before picking it up in a store. Social networks are used to explore, review products and buy. Influencers and testers of known products are influential in consumer decision making. Consumers are increasingly less attracted to domestic products while purchases of foreign products are growing.

South Koreans tend to change their consumption behaviour. Koreans are increasingly looking for leisure free time. Consumption friendly to the environment is not yet fully widespread, even if it developing. A new group of consumers has emerged, insisting on "green labels" and hunting for eco-friendly, or organic and natural alternatives. Concerns for the environment are a little stronger among young people. There is a second-hand market in South Korea that is developing, especially with flea markets and internet exchanges. The collaborative economy is present and growing in South Korea.

Consumer Recourse to Credit

South Korea is very modern for payment systems. While only 20% of transactions are made in cash, debit and credit cards and T-Money cards are widespread. South Korea's central bank aims to stop using liquidity by 2020. As a result of credit-enhancing measures, the level of household debt has exploded. In mid-2018, household debt to their disposable income reached 161.1% and outstanding amounts to won 1 993 trillion. On average, one person has 80 million won of debts and 37% of the population had debts in June 2018. Consumer credit and credit card purchases are very common and used to finance vehicles but general consumption. The country's central bank is alerting consumers about the level of private debt but also about the fact that defaults are rising. The expansion, if it continues, could therefore be slowed down by the authorities.

Growing Sectors

Cars, computers, smartphone and software, medicines, parapharmacy and medical equipment, transport, food, restaurants and hotels, education services, interior decoration, fashion, luxury goods and services for the elderly.

Consumers Associations

Population in Figures

Total Population:

Urban Population:

Rural Population:

Density of Population:

531 Inhab./km²

Men (in %)

Women (in %)

Natural increase:

Medium Age:

Ethnic Origins:

The population of South Korea is the most ethnically homogeneous in the world, with 96.6% of the population of Korean origin and 3.4% of foreign nationals. Among the largest groups of foreign nationals, Chinese nationals account for 43.5%, followed by 11.1% Vietnamese, 10.2% Thai and 4.4% from the United States. (Statistics Korea)

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Reaching the South Korean consumer - Santandertrade.com

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Consumer Profile South Korea's the population is ageing very quickly, the median age is 44.8 years old. While only 14.8% of the population is under 18 years old, 67.8% is between 18 and 64 years old and 17.5% is above 65 years old (Data Reportal, 2022).

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Targeting South Korean Consumers - Everything you Need to Know

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South Korea has powerful industries in mobile, automotive, beauty, fashion, entertainment, and technology. They got to this level because of their massive workforce that has usually put career over family. The average Korean worker works about 70 hours a week. It got so bad that the Korean government lowered its maximum working hours down to 52 hours.

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Leading fashion brands and manufacturers are to transform the way they produce jeans, tackling waste, pollution, and the use of harmful practices, thanks to new guidelines published today by the Ellen MacArthur Foundation.

The Jeans Redesign Guidelines set out minimum requirements on garment durability, material health, recyclability, and traceability. Based on the principles of the circular economy, the guidelines will work to ensure jeans last longer, can easily be recycled, and are made in a way that is better for the environment and the health of garment workers. The Jeans Redesign - created by the Ellen MacArthur Foundation's Make Fashion Circular initiative - brought together more than 40 denim experts from academia, brands, retailers, manufacturers, collectors, sorters, and NGOs, to develop the Guidelines.

Confirmed participants to date include Arvind Limited, Bestseller (through the Vero Moda brand), Boyish Jeans, C&A, GAP, Hirdaramani, H&M Group (through the H&M and Weekday brands), HNST, Kipas, Lee®, Mud Jeans, OUTERKNOWN, Reformation, Sai-Tex, Tommy Hilfiger. The Guidelines have been endorsed by clothing collectors and recyclers Bank and Vogue, Circular Systems, EVRNU, HKRITA, I:CO, Infinited Fiber Company, Lenzing, Recover, re:newcell, Texaid, Tyton Biosciences LLC, Wolkat, and Worn Again. They have also been endorsed by the NGOs Fashion Revolution andTextile Exchange.

The Guidelines build on existing efforts to improve jeans production, including the open source guide created following C&A and Fashion For Good's joint initiative to develop C2C Gold Certified™ jeans. The Jeans Redesign will drive others to join the project and produce jeans in line with the Guidelines at scale. The first pairs of the redesigned jeans will be on sale in 2020.
ABOUT THE GUIDELINES
The respect of the health, safety, and rights of people involved in all parts of the fashion industry is a prerequisite, along with working conditions improvement in manufacturing globally. Beyond this, the Guidelines provide minimum requirements for jeans on durability, material health, recyclability, and traceability.

Durability

Jeans should withstand a minimum of 30 home laundries, while still meeting the minimum quality requirements of the brands

Garments should include labels with clear information on product care

Jeans should be produced using cellulose fibres from regenerative, organic or transitional farming methods

Jeans should be free of hazardous chemicals and conventional electroplating. Stone finishing, potassium permanganate (PP), and sandblasting are prohibited

Recyclability

Jeans should be made with a minimum of 98% cellulose fibres (by weight)

Metal rivets should be designed out, or reduced to a minimum

Any additional material added to the jeans, should be easy to disassemble

Traceability

Information that confirms each element of the Guideline requirements has been met should be made easily available

Organisations that meet the requirements will be granted permission to use the Jeans Redesign Logo on jeans produced in line with the Guidelines

Jeans Redesign Logo use will be reassessed annually, based on compliance with reporting requirements

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Make Fashion Circular launches the Jeans Redesign

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Leading fashion brands and manufacturers are to transform the way they produce jeans, tackling waste, pollution, and the use of harmful practices, thanks to new guidelines published today by the Ellen MacArthur Foundation. The Jeans Redesign Guidelines set out minimum requirements on garment durability, material health, recyclability, and traceability.

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Mulberry announce South Korea expansion to boost weak sales - UK Investor Magazine

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British accessories brand Mulberry reported a fall in UK sales in the 10 weeks to June, but announced a new move into South Korea designed to take advantage of the Asian market. Pre-tax profit fell 8 percent to £7.5 million, mainly linked to the startup costs of the group's expansion in Asia, with revenue rising 1 percent to £169.7 million.

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Luxury leather goods brand Mulberry has revealed its intentions to focus on growth in Asia in the light of uncertain trading conditions in the UK as part of end of year results.

It comes as the Somerset-founded company revealed an adjusted profit before tax of £1m for the 53 weeks to 30 March 2019, compared with £8m in the previous period.

Including a number of exceptional items, the company made a reported loss before tax of£5m, down from a profit before tax of £6.9m in the previous period.

Those exceptional items include the £1.8m launch costs for its South Korean operation, a profit write back on the conversion of its John Lewis operation from a wholesale to concession business model of £1.3m, and most significantly, a £2.1m write-off from the administration of House of Fraser.

Revenue for the period was £166.3m compared with £169.7m in the previous period. UK sales fell by six per cent, with international sales rising by seven per cent.

In the 11 weeks since the close of the financial year, the brand has opened up new sites in New York and Dubai, as well as increasing retail sales by 13 per cent.

Chief executive Thierry Andretta said: "The group has delivered results in line with expectations and is making good progress in advancing its International strategy and direct to customer model whilst managing a challenging UK market.

"We have established new subsidiaries in Japan and South Korea and introduced important digital partnerships in China. International and omni-channel sales, driven by our customer centric focus, are increasing as a result.

"Looking ahead, we anticipate that international and digital sales will continue to grow whilst UK retail trading conditions are expected to remain uncertain.

"The group plans to invest further in its new Asian entities during this development phase, enhance its global digital platform and optimise the UK network."

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Mulberry plans expansion into Asian markets

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Luxury leather goods brand Mulberry has revealed its intentions to focus on growth in Asia in the light of uncertain trading conditions in the UK as part of end of year results. It comes as the Somerset-founded company revealed an adjusted profit before tax of £1m for the 53 weeks to 30 March 2019, compared with £8m in the previous period.

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In this video, three McKinsey partners describe how the consumer experience in fashion might change in the coming decade-and how retailers should evolve.
Video transcript
Sustainability and brand loyalty

Miriam Lobis: One word to describe how younger generations will change the fashion business is "sustainability." They will have completely new demands as to what it means to be an end-to-end sustainable brand.

Karl-Hendrik Magnus: This industry is about emotional attachment, loyalty, and excitement for brands. And we are very convinced that, in the future, brand love and brand loyalty will very much be dependent on the sustainability attributes that a brand enables or builds with its consumers.

Anna Granskog: There will be clear growth in different types of sustainable fashion consumption. One is obviously products that are made out of more sustainable materials: it could be recycled materials, or it could be lower--impact materials, such as organic cotton instead of regular cotton. But it could also be what we call circular business models-basically, resale, rental, and to some extent, repair and refurbishment.

How circular business models could go mainstream

Karl-Hendrik Magnus: What will really move the needle on circular business models is the circular consumer experience. As soon as some brands enable great ways of returning your garments into a circular cycle-not having to carry them back to the store but having them picked up, without any hassle, at your doorstep-and with a brand actually knowing what you have in your wardrobe, bidding for that, and sending you reminders of what would be great to bring back into the circularity cycle, then the experience will become so pleasant that mass participation of consumers will happen.

Miriam Lobis: Imagine that your style adviser tells you, "You haven't worn these blue shoes in a while. Don't you want to resell them?" Then, instead of having to position them in a nice spot and having to take photos and think about the description, [an online platform] actually makes a perfect suggestion, saying, "Look, these are the shoes that you bought. These are some of the pictures of the original ones. Here's the perfect description." And it will just be 20 seconds, and your item is up on the platform. And once the wardrobes of millions of consumers are connected, your personal style adviser can actually find and identify the person for which these blue shoes would be the perfect addition to their wardrobe, so the reselling process will be done in a second. And that's the moment when end of ownership really will be big scale.

Actions to take now

Karl-Hendrik Magnus: Roughly 55 percent of all levers that are in our hands to reduce emissions are actually saving money for the industry. They will, over the long term, not always be negative and only costing money but will save money. Yes, they will still require up-front investments, but they are positive in terms of payback.

Anna Granskog: Up to 40 percent of garments are not sold at full price but at some degree of discount. And some garments end up not being sold at all. Cutting overproduction in half from where it is today would make a huge contribution toward a lower carbon footprint of the industry.

Miriam Lobis: What I would ask all the CEOs in the fashion industry to do is really take that end-of-ownership thinking seriously and consider how will it disrupt their business model: How can a brand make sure that it will be well represented in that ecosystem?

Karl-Hendrik Magnus: It's not only a need but also, I believe, a huge opportunity for this industry to reinvent itself and create things that are exciting to the consumer.

Anna Granskog: Of course, it will be interesting to see whether it will be the established players that will eventually be the winners of the circular models, or whether we will see completely new players, "born circular." But there's not so much time to sit and watch. Rather, it is getting to be time to take action.

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In this video, three McKinsey partners describe how the consumer experience in fashion might change in the coming decade-and how retailers should evolve. Video transcript Miriam Lobis: One word to describe how younger generations will change the fashion business is "sustainability." They will have completely new demands as to what it means to be an end-to-end sustainable brand.

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Victoria Beckham is reducing the average selling price of her dresses by almost 40% by switching to simpler silhouettes and fewer embellished fabrics, in a move that points to how the fashion industry may adapt to the disruptions to lifestyle and budget caused by the pandemic.

Marie Leblanc, the CEO of the label, said the changes were necessary to “future-proof” the brand, which has yet to turn a profit despite being one of the most high-profile names in British fashion for the past decade.

When demand for party dresses evaporated during lockdown, sales of knitwear, sunglasses and Beckham’s “athleisure” collaboration with Reebok became a lifeline. The brand is emerging from the pandemic with a new lo-fi aesthetic, and lower prices to match.

“Right now feels a bit like that moment after you’ve had a baby, and you can’t remember what you wore before you were pregnant,” said Beckham at this week’s launch of her new collection, shown in individual appointments at her London flagship store.

She added: “When I was pregnant with [daughter] Harper I wore very different clothes, and after she was born it took me a while to figure out what I wanted to wear. Coming out of the pandemic feels a bit like that. I really embraced a more relaxed way of dressing during lockdown, and that changes what I want to wear now.”

Leblanc said: “We are going to come out of this time with a hybrid lifestyle. Maybe you don’t have to dress up so much to take a meeting.”

Beckham and Leblanc said they hoped the new pricing structure would boost the bottom line by broadening their customer base.

Last year, the British luxury brand Mulberry slashed prices in some Asian markets by 20%. The announcement was couched in terms of aligning international prices, but seen as a lever to boost sales at a challenging time.

Consumer confidence remains fragile, and the rise of resale and renting models for designer fashion is offering label-conscious shoppers a more affordable alternative to Bond Street’s punchy price tags.

“Our customer is smart, she wants value for money,” said Leblanc.

Beckham, dressed in pinstripe tailored trousers and a cashmere rollneck with white high heels, said she drew the line at the word comfort, adding: “I don’t like that word. It doesn’t feel elevated, to me. But I do like an elegant jersey dress which is soft to wear but has a beautiful silhouette.”

Highlights of the collection include spaghetti-strap slip dresses with a 1990s-supermodel-at-an-after-party glamour, and oversized knits in saturated butter yellow and bubblegum pink.

“The other day I was packing for a trip to New York, and I pulled out the pieces I would normally take – midi-length skirts and pussy-bow blouses – and they didn’t feel right at all. I wore denim and tailoring instead,” she said.

Victoria and David Beckham divide their time between London and Miami in the US. Their 18-year-old son, Romeo, moved to Florida full-time to train with Inter Miami football club, the team David co-owns, in the hope of joining it. “Selfishly, I’d love it if all my kids would stay in London, but I’m pleased that they are ambitious,” Victoria said. “Anyway, I was on a world tour when I was Romeo’s age.”

She said she remained committed to London fashion week, where she intended to hold a small-scale presentation in September.

“People are going to be very aware of social distancing for a while to come, and that’s something to be respected. I don’t think anyone wants hustle and bustle at this point.”

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Victoria Beckham cuts dress prices to ‘future-proof’ fashion brand

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Label’s new pricing structure aims at dressed-down look and broader customer base

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Victoria Beckham's pre-spring 2022 collection marks a "rebirth" of her fashion brand. It's how she refers to this week's decision to merge her main luxury line, Victoria Beckham, with her more accessible diffusion line, Victoria, Victoria Beckham. In the process, the designer is cutting the new brand's price tags by some 40 per cent compared to her historical main line prices, making her clothes more affordable to those who have limited their VB desires to window shopping in the past. The bold move heralds a new era for Beckham, whose pre-collection - the first as part of the rebirth - embodies her ongoing commitment to quality and the fashion-forward character that defines her. Albeit, she says, with a new focus on ease. Beckham and her company's CEO, Marie LeBlanc de Reynies, spoke to Anders Christian Madsen about their season of change.

Tell me about this "rebirth"

Victoria Beckham: What we've decided to do post-pandemic is to take Victoria Beckham and Victoria, Victoria Beckham and merge the two into one cohesive brand. It will bring our average price point down from over £900 to £550 without compromising the desirability, quality, and ready-to-wear aesthetic.

What brought this on?

VB: We saw such a huge opportunity and change in the way that people not only want to dress, but shop. We saw a sweet spot with this price point, if you like. It will just mean that we'll have a more accessible entry price, but we'll still have the high-end pieces. There's not a single seam that feels like a compromise, and I'm really excited about it.

Marie LeBlanc de Reynies: We have used this time to look at how the market looks, our brand, and our community. We've come to a natural result, which is to bring the VB and VVB brands under a single umbrella, maintaining the elevated, feminine, confident feel of VB, but expanding into ease and proposing a 360-degree luxury, affordable brand to our community.

Is the decision an outcome of the pandemic?

MLBdR: We've seen a consistent shift during the pandemic, which is looking into ease, a care to the price point, and also a lifestyle way of buying. We've seen a huge opportunity in the market, which is a space for an affordable luxury brand. It's about having an elevated, chic brand and maintaining our DNA, but providing more functions - more ease - and making sure our consumer can relate to the brand both in terms of use and price point.

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Victoria Beckham's Bold Shake-Up Of Her Brand Signals A New Era For The Designer

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Victoria Beckham's pre-spring 2022 collection marks a "rebirth" of her fashion brand. Beckham is merging her main luxury line, Victoria Beckham, with her more accessible diffusion line, Victoria, Victoria Beckham. In the process, the designer is cutting the new brand's price tags by some forty per cent.

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Victoria Beckham Beauty Just Dropped A Mascara That Actually Makes Your Eyelashes Grow Longer

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Top 6 reasons to expand your business internationally in 2021

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2020 presented new challenges for businesses, but there are still many reasons why you should go global in 2021. Enter new markets to gain new revenue potential, access a larger talent pool, diversify your product and gain more brand exposure.

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Strong brand character
Influential person
British heritage behind the brand

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Narrow product offering
Limited size range, not very inclusive
High price point may put off consumer

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Extend product line; accessories, bags, homewares etc
More product promotion as opposed to lifestyle
Create separate instagram page for brand, rather than having personal and business combined

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No entry level price point
Weak or no USP

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Pestle analysis of South Korea. ROK (Republic of Korea) is an East Asian country situated south of the Korean Peninsula. She shares the land border with North Korea. South Korea's capital is Seoul, and it's the 5th world's largest city comprising more than 25 million people.

Korea has a long history that dates back to the Lower Paleolithic period. The records confirmed the first Korean Kingdom in the 7th century. Goryeo dynasty and Joseon dynasty ruled Korea from 918-1392 to 1392-1897. Empire overpowered the country in 1910. WWII separated the country into two regions the allies Soviet and American. The area under US control became the Republic of Korea.

The total area of South Korea comprises 38,750 square miles, and it's the 107th largest country in the world in terms of area and size. Approximately more than 51,709,098 people live in the country, and it's the 27th most populated country in the world.

Today, we'll study the pestle analysis of South Korea. It would focus on the macro-environmental factors that impacting the East Asian developed country. Here's the pestle analysis of South Korea as follows;

Government System

South Korea follows the presidential system of government where the President is the state's head. She's one of those countries that is successfully functioning the democratic government. Her constitution allows the establishment of political parties, but their activities and objectives should be democratic.

It's worth mentioning here that ever since South Korea started following democracy in the 80s, the country has achieved tremendous economic and technological growth.

Political Stability

South Korea is enjoying the stable political environment of the country. She has established very fruitful relations with the , and she's even one of the main allies of the superpower. She has developed friendly relations with and China. However, she has conflicted ties with North Korea over her ridiculous claim of the whole Korean peninsula.

Corruption

Abuse of power, bribery, and corruption are some severe issues that South Korea is facing. Some of the politicians and corporate personals have admitted corruption a severe problem. For instance, the Korean Supreme court has sentenced former President Lee to prison for 17 years on corruption charges of receiving millions of dollars of bribe from Samsung.

The political corruption poses a risk of pushing away potential businesses that want to set up their manufacturing units in South Korea.

Consistent Growth

South Korea has achieved remarkable growth and progress for the past four decades. Nowadays, she's one of the world's most developed and advanced countries. She's a prominent partner of the World Bank that lends monetary support to the world's poor countries.

According to an estimate, the annual nominal GDP (gross domestic product) of South Korea in 2020 was 1.586 trillion dollars, and it's 10th world's highest. Out of which, the country's per capita earnings were 30,644 dollars, and it's 26th world's highest. The pandemic of has dropped her annual GDP by approximately 1.4%.

Imports & Exports

Exports are the primary source of earnings of South Korea. Her main exports are mobile phones, vehicle spare parts, cars, refined petroleum, and integrated circuits. She exports these products to countries like Japan, Hong Kong, Vietnam, the USA, and China.

South Korea's top imports are coal briquettes, refined petroleum, petroleum gas, integrated circuits, and crud petroleum. She imports these products from Germany, Saudi Arabia, Japan, the USA, China, and others.

Trade Alliance

South Korea has established various trade alliances with countries, regions, and blocks. Some of the trade alliance countries and areas are Turkey, Vietnam, USA, EU, , New Zealand, , Colombia, China, , , and ASEAN. Such trade agreements and alliances have helped the country to expand its market with limited restrictions.

Right Decisions

South Korean leaders have made quick and timely decisions in recent history, and they have helped the country minimize the loss. For instance, the pandemic of covid-19 has impacted the global economy. The government provided support of 12.2 billion dollars to the businesses and ordinary. She also plans to give loans of 230 billion dollars to her people. Such quick and timely decisions have decreased her GDP by only 1.4%.

Demography

South Korea is one of the most prosperous and developed countries in Asia and worldwide. Approximately more than 51 million people are populating the country. Daegu, Incheon, and Busan are some of the main cities. Roundabout 56.1% of people don't believe in any religion. The remaining people believe in Christianity and Buddhism.

Cultural Influences

Seniority, age, and ancestors are some of the factors that influence South Korean culture and society. They used to have a significant influence. However, social hierarchy, economic, and marital status are some of the other impacting social factors.

Trends

South Korean people love classic architecture, sports, art, and food. However, the country is also facing some the challenges like increasing the aging population, expanding the gap between rich & poor, housing crisis, and low fertility. People are converting their offices and hotels into rental houses to address the shortage of houses in Seoul.

Highly Advanced

South Korea is the world's leading technologically and digitally developed country. She has the world's largest Incheon Airport; it has features like facial recognition, AI, and walk through security tunnel. However, the government has made significant progress in robotic technology. Such robots are playing the role of teachers in kindergartens and preschools.

Tech Industries

Robotics, aerospace engineering, and biotechnology are some of the main fields in which South Korea has made tremendous progress. The country perceives AI (artificial intelligence) as a solution to the world's challenges.

According to an estimate, approximately 85% of South Korean people are highly active on social media. Many people, government departments, businesses, and media see cybersecurity attacks as a serious threat.

Regulations

South Korean legal system is a mixture of Japanese, Anglo American, and European judiciary systems. Many people argue that the South Korean judicial system isn't free and independent of political pressure. For instance, public prosecutors are usually corrupt, and they've political biases. It needs to be independent and free from external influences because it protects ordinary people's interests and rights.

Tourism

South Korea is a very clean country because its people don't carelessly dispose of things. Delicious food, future architecture, theme parks, world heritage sites, mountains, beautiful historical sites, mountains, and seasons attract tourists' attention from across the world.

Environmental Challenges

South Korea has achieved significant economic and tech growth. But the country is facing environmental challenges like over packaging, water pollution, carbon emission, energy sources and supply, global warming, and waste management. According to a study, approximately 70% of people think that air pollution is a severe problem.

After a careful study of the pestle analysis of South Korea, we've concluded that South Korea is the world's leading developed country. Political corruption, cybersecurity attacks, and low fertility are some of the severe threats. South Korea should address these issues that are impacting its growth and causing a bad reputation.

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PESTLE Analysis of South Korea | Business Management & Marketing

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Pestle analysis of South Korea. ROK (Republic of Korea) is an East Asian country situated south of the Korean Peninsula. She shares the land border with North Korea. South Korea's capital is Seoul, and it's the 5th world's largest city comprising more than 25 million people.

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Table of contents
List of Figures 1 Introduction 2 The Uppsala internationalization model 2.1 Backround of the Uppsala model 2.2 The establishment chain - international penetration 2.3 The psychic chain - international expansion 2.4 The internationalization model 2.5 Critical view 3 Born Globals 4 Conclusion Bibliography
List of Figures

Figure 1: Hollensen, 2007, p. 64

1 Introduction

This term paper deals with the Uppsala model of internationalization and the question whether it is still working today or if modern companies have more possibilities to enter new markets in foreign countries in a different way. The model was developed almost forty years ago and the framework and conditions of internationalization and technological progress have changed a lot. In economics, internationalization is the process of increasing involvement of enterprises in international markets, although there is no agreed definition of internationalization. There are several internationalization theories which try to explain why there are international activities. This paper will stick to the classic school theory, the Uppsala model or international stage model in comparison to modern ways of internationalization by the example of ‛Born Globals'. The Uppsala model provides a universal explanation of how internationalization works in the form of sequential stages during its early development. ‛Born Globals' are young companies that start to globalize very fast from the beginning without any preceding long term period of internationalization. They do not follow the stages in the suggested order, they rather leap-frog some of the steps given by the model. The aim is to show that the business world has changed and the model is not contemporary anymore.

This paper will start with the backround of the Uppsala model, its structure. A description of the establishment chain and the psychic chain will follow. After that the internationalization model will be illustrated which will lead to the critical view of the Uppsala model. Chapter three describes the modern way of internationalization using the example of ‛Born Globals'. The last chapter of this term paper is the conclusion.

2 The Uppsala internationalization model

2.1 Backround of the Uppsala model

In the 1970s Swedish researchers (Johanson and Wiedersheim-Paul, 1975; Johanson and Vahlne, 1977) who work for the University of Uppsala questioned the theories of international behavior at that time. They believe that most of those theories tone down the problems of cultural differences. Every culture has its characteristics in needs, buying behaviour and its own typical orientations. These characteristics define the members of a culture and shape their collective identity. According to Hofstede culture can be described as "the collective programming of the mind that distinguishes the members of one group or category of people from another". ¹

Furthermore they assume that the theories ignore the internal foundations needed so that companies can handle international activities. Because of that, the Swedish researchers create their own model of internationalization - the Uppsala model. ² It is based on an analysis of four Swedish manufacturing companies - Sandvik, Atlas Copco, Facit and Volvo. During this time, those companies sold more than two-thirds of their turnover across the globe and had production facilities in various countries. ³ This theory explains the process of internationalization and the trouble the companies had to face doing that. The Uppsala model distinguishes between the establishment chain concerning the pattern of internationalization and the psychic distance chain, incorporating knowledgement of markets and culture. They assume that companys start to grow and develop in the domestic market before they start to expand in other places. Internationalization is the consequence of a series of incremental decisions. The main idea of this model is the step-by-step development a company passes through during the process of upscaling. In their opinion, the reason why companies do not expand in the beginning is the lack of knowledge about foreign countries, their culture and the tendency to avoid uncertainty just like the lack of resources. ⁴

2.2 The establishment chain - international penetration

According to Johanson and Wiedersheim-Paul, the Uppsala model sub-divides the process of entering an international market into four different steps, where the successive stages represent higher degrees of international involvement and market commitment. Those steps have to be viewed from a company's perspective combined with the market and the market knowledge.

Step 1 - No regular export activities (sporadic exports)
Step 2 - Export via independent representatives (export modes) Step 3 - Establishment of a foreign sales subsidiary
Step 4 - Foreign production/manufacturing units ⁵

Those steps indicate business activities depending on the market experience gained by the company during their process of development and expansion.

Step 1 is the initial one where the company starts to enter a foreign market but does not export on a regular basis. Market knowledge is limited and experience is gained by chances not systematical.

In step 2 the company exports systematical through agents. This indirect export will provide the company with some experiences and market knowledge about the customers in this market.

If a company is willing to commit itself to more export, in step 3 it will take over the middleman's operation and try on its own. This means that the firm has to have the necessary knowledge and information about the market and how to establish its own operations. ⁶

The last step is to establish the production facilities of the company in the market it already exports to. This happens as the company has the feeling of having enough knowledge and wants to gain locational advantages. Of course it can always be that it is forced to offshore as regulation demands this or risks like currency risks can hedge this way. ⁷

Abbildung in dieser Leseprobe nicht enthalten

Figure 1: Hollensen, 2007, p. 64

2.3 The psychic chain - international expansion

During their research, they find out that companies usually start to expand in a market that has less psychic distance. The chances of being successful in those markets are higher and market uncertainty is low. ⁸ Psychic distance is correlated with geographic distance and is also defined as the distance between home market and a foreign market resulting from the perception, learning and understanding of business differences. Johanson and Wiedersheim-Paul define it as the differences in language, culture, political systems, etc., that makes it hard or easy for a company to enter the new market. When a firm has chosen where to go, the psychic distance is assumed to reduce to the increased market-specific knowledge. If knowledge can be transferred from one country to another, firms with an extensive international experience are likely to perceive the psychic distance to a new country as shorter than firms with little international experience . ⁹

2.4 The internationalization model

There is a difference between state and change aspects of internationalization. Using this model, Johanson and Vahlne try to explain why they divided the Uppsala model into establishment chain and psychic chain. The state aspects are market commitment and market knowledge; the change aspects are current business activities and commitment decisions. ¹⁰ Those four elements affect each other in an interdependent way and the process can be seen as causal cycles. ¹¹ According to Johanson and Vahlne, in the process of internationalization, companies start to transfer resources to foreign countries. These resources can be tangible or intangible goods. This process will lead to a market commitment. The difficulty to apply resources in other markets will tighten the bond to a certain market/ country. ¹²
[...]
¹ Geert Hofstede, Culture's Consequences, USA 2001, p. 9

² Michael Kutschker, and Stefan Schmid, Internationales Management, München 2011, p.466

³ Jan Johansson, and Finn Wiedersheim-Paul, "The internationalization of the firm -

four Swedish cases", Journal of Management Studies, Vol. 12, No. 3, p. 305-309

⁴ Ibid., p. 305-309

⁵ Svend Hollensen, Global marketing, Italy 2007, p. 63

⁶ Jan Johansson, and Finn Wiedersheim-Paul, "The internationalization of the firm -

four Swedish cases", Journal of Management Studies, Vol. 12, No. 3, p. 305-309

⁷ Stanley Paliwoda, and John Ryans, International Marketing, USA 2008, p. 81-84

⁸ Stanley Paliwoda, and John Ryans, International Marketing, USA 2008, p. 81-84

⁹ Jan Johansson, and Finn Wiedersheim-Paul, "The internationalization of the firm four Swedish cases", Journal of Management Studies, Vol. 12, No. 3, p. 305-309

¹⁰ Jan Johanson, and Jan-ErikVahlne, "The Mechanism of Internationalisation", International Marketing Review, Vol. 7, No. 4, p. 11-24

¹¹ Stanley Paliwoda, and John Ryans, International Marketing, USA 2008, p. 82

¹² Dirk Holtbrügge, Die Lerntheorie der Internationalisierung von Johanson/Vahlne, Nürnberg 2005, p. 6

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GRIN - The Uppsala model of internationalization. A critical review

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List of Figures 1 Introduction 2 The Uppsala internationalization model 2.1 Backround of the Uppsala model 2.2 The establishment chain - international penetration 2.3 The psychic chain - international expansion 2.4 The internationalization model 2.5 Critical view 3 Born Globals 4 Conclusion Bibliography Figure 1: Hollensen, 2007, p.

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Country comparison

Select one or several countries/regions in the menu below to see the values for the 6 dimensions.
Go further, discover our cultural survey tool, the Culture Compass™ or join our open programme Introduction to Cross-Cultural Management or download the App ( Google Play, App store).

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Select one or several countries/regions in the menu below to see the values for the 6 dimensions. Go further, discover our cultural survey tool, the Culture Compass™ or join our open programme Introduction to Cross-Cultural Management or download the App ( Google Play, App store).

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Analyzing Korean Customers with Hofstede's Four Cultural Dimensions

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This is a paper presented by Seoha Lee, a recent graduate of both the Global Digital Marketing and Localization Certification (GDMLC) program. This paper presents the work being produced by students of The Localization Institute's Global Digital Marketing and Localization program.

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Responsibly sourced leather

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Look at Anya Hindmarch

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Trezelene
Chan Head of Sustainable Transformation Practice, Singapore

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What does sustainability mean to Asian consumers, and what should brands do?

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Discover what matters to people in Asia, and where to play to help your organisation navigate the sustainability journey.

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Victoria Beckham Recreates Her Iconic Shopping Bag Campaign 10 Years Later

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Jan 7, 2019 - To celebrate her brand's 10-year anniversary, Victoria Beckham recreated her iconic Marc Jacobs shopping bag ads shot by Juergen Teller.

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South Korea is undoubtedly a major player when it comes to fashion, music, entertainment, technology, and many aspects of consumer culture.

A thriving hub of creative innovation, Korea has demonstrated its global impact time and again, a force that has only begun to gain momentum and will continue to grow stronger.

The catalyst behind Korea's boundless cultural power and influence is the country's energetic generation of youth who are hungry for what's next - ready to endlessly create and consume.

Looking ahead to 2021, Highsnobiety and luxury Korean automaker Genesis dig deeper into the country's coming trends and uncover key points of success for brands and creatives who have their eyes set on the market.

Untact & Ontact Marketing

The coronavirus pandemic has accelerated the concept of "untact" marketing in South Korea. "Untact," a term coined in 2017 by a team of consumer scientists at Seoul National University, refers to products and services offered without human interaction. Artificial intelligence, robots, the internet, and other forms of technology replace face-to-face activity, a concept that's been given new meaning in 2020. The pandemic also prompted the rise of "ontact" - or "online contact" - in Korea, which refers to being face-to-face online, such as through video conferencing and virtual sales support.

"For a brand to be competitive in Korea, it'd have to be available virtually, not just during the pandemic, but beyond," says Richard Chun, founder of Ideal People Showroom, a fashion sales agency based in Korea.

When one of Chun's client brands, Andersson Bell, renovated its Seoul flagship this past March, it turned to the concept of untact to promote its reopening. "We decided to launch a virtual online tour of the site instead of hosting an opening party," Chun says. "Normally, we would invite the industry and influencers for a traditional offline promotion, but it wasn't possible because of the pandemic."

Due to travel restrictions, Chun and his clients also conducted virtual buyer meetings for the Spring/Summer 2021 season. "It was an interesting experience because there were the obvious cons, like buyers not being able to feel the clothes," Chun explains. "But there were unexpected pros, too. In a virtual setting, you're guaranteed the buyer's attention during the full time of the appointment, whereas at a physical showroom, you might have more competition with other brands. My clients actually received more orders from retailers this season through virtual appointments than they did with physical showrooms before."

"While fashion brands may have started to do more untact promotions out of necessity, these methods will soon become more dominant for their competitiveness and entertainment value," Chun continues. "What's important is providing a different and unique experience for the buyer and consumer."

Jumi Choi, a Seoul Fashion Week representative who oversees its operations, echoes this sentiment. "We conducted all 46 designer shows for Seoul Fashion Week Spring/Summer 2021 via digital runways which streamed on showSTUDIO. Because showSTUDIO is a familiar name in international fashion, it was actually an opportunity for us to reach a wider audience, including those who couldn't access Seoul Fashion Week before," Choi says. "Even after Covid-19, streaming runways via digital platforms will become a necessity. We'll need to expand and diversify platforms to reach a wider audience, and make each show more appealing. The challenge will be to make them stand out from the rest of the overflowing content online."

However, the rise of "un/ontact" in Korea doesn't eliminate the region's thirst for offline events. "A big part of the culture at Seoul Fashion Week is the energy created by the young, street fashion audience outside the runways. I think it's too bad that this energy can't be conveyed through digital channels," Choi says. "As we move forward, these aspects would have to blend seamlessly with the digital, and this season was the beginning of that. In the future, brands and consumers will constantly interact through both on and offline mechanisms."

Digitized Personas

An extension of untact and ontact technology is the upward trend of using animated worlds and avatars in Korea's fashion and music scenes. While Balenciaga recently made headlines with its Fall/Winter 2021 video game, the K-pop and K-fashion industries have already been influenced by games like League of Legends to promote their products.

In late 2018, League of Legends announced its own digital K-pop group, K/DA, which brought together members of popular Korean music groups to release songs performed by animated avatars. "I think this inspired a lot of entertainment agencies in Korea," says May Kim, a Seoul-based graphic designer and digital artist who's worked with clients like Prada, Vans, and Wooyoungmi just this year. "It's no coincidence that other idol groups now have their avatars too," Kim says, referring to the Zepeto version of Blackpink and aespa-synk, the digital version of South Korean girl group aespa.

"There's been a massive boom of 3D graphics in Korean fashion," says Kim. "I've been constantly asked to create 'young and hip' digital designs by my clients. I think the millennials and Generation Z are influenced by and want something futuristic," she explains.

Thisisneverthat, Korea's biggest streetwear label, also used a digital avatar that went viral over the summer. In July, it launched an Instagram filter for its Fall/Winter 2020 collection featuring an animated version of influencer Jinbok Lee as the model. "We were discussing new ways to promote the brand," says Lee, who also creative consults for Nike Korea and VK Designs (Girls Don't Cry, Wasted Youth). "3D scanning a person was a relatively foreign concept here, and I think the result was very unique and cool," he says, referring to his AR filter.

After the success of his avatar, Thisisneverthat released more digital filters with popular Korean rappers Paloalto and Youngji Lee wearing the brand's clothes. The three filters together garnered more than two million impressions within two months. At Facebook Korea's "Spark Creator AR Lab" online summit in October, Thisisneverthat's filters were lauded as an exemplary case of digital marketing that opened up the potential for AR technology in Korean fashion.

According to Kim, these digitized personas will soon cross over from the celebrity to the consumer side. "If these avatars have been used to promote digital content for musicians and other brands, in 2021, improvements in AR and VR technology will allow for everyone to create avatars as a tool for consumption," Kim explains.

"People could use their personalized avatars to try on clothes online before purchasing. Warby Parker, Gentle Monster, and many beauty brands already use facial recognition to allow shoppers to try their products online. I believe this will soon extend to Korea's fashion industry too."

Originality & Audacity

Personalization driven by technology and social media has also pushed Korean youth to embrace more originality. Once known as a homogenous culture, South Koreans are now more welcoming toward unconventional and offbeat style, driven by the desire to stand out and be unique. Brands like ADER error and pushBUTTON have proven successful with quirky, avant-garde designs that have garnered popularity both domestically and abroad.

A new generation of Korean brands like Kanghyuk, Post Archive Faction, and Kusikohc also stand out as ones breaking boundaries set by the more conservative, conventional predecessors of Korean fashion. They offer high-taste and high-quality designs for an increasingly sophisticated and daring youth.

"I think Gen Z kids are more daring now than us millennials ever were," says Jinpyo Park, founder of street and culture publication, in Seoul. "We can also tell by the popularity of younger social media stars like Thug Min, who comes off as extremely raw and audacious, and therefore edgy," Park continues, referring to Min, a Korean Instagram personality and skater turned fashion model.

Another example is Jinbeom Yang, known as Wetboy, a TikTok performance artist whose viral dance videos led to a collaboration with Takashi Murakami. "What's resonating with Korean youth these days is not only fashionable style but originality and something unexpected, as well as humor," Park says.

The Rediscovery of Hanbok

In searching for a new and original style by Korean youth, there has been a revisiting of its cultural roots, namely a rediscovery of the age-old hanbok. Hanbok - a traditional Korean dress which translates to "Korean clothes" - has seen new light in recent years in the country's fashion and music industries.

BTS has been lauded by Koreans for their promotion of hanbok both on and off stage. In October, the New York Times highlighted Blackpink's hanbok in their "How You Like That" music video as "an update to a centuries-old style." Until recently, hanbok was generally considered only as a special form of dress worn during special occasions. It was never quite embraced in modern clothing, compared to Japan's kimono which is more widely known and worn around the world.

"It seems in the past couple of years, the Korean youth are embracing hanbok more than previous generations. The perception is slowly changing in favor of things that are uniquely Korean as everyone tries to figure out what 'Korean fashion' means," says Kevin Kim, co-founder of clothing label IISE Seoul. "The Korean market used to always look outward for inspiration, but I've been noticing brands and artists looking more into our culture to create something new."

Terrence Kim, the other half of IISE, agrees. "We've created hanbok-inspired pieces since we launched clothing in 2015, but they used to be more popular with our international consumers, while in Korea, our contemporary designs were more popular," he says. "However, we've seen an uptick in sales for these hanbok styles locally as well for the last two years."

As K-pop stars like Lil Cherry and GOLDBUUDA, CL, and Taemin also continue to bring hanbok to the forefront of cool, young Koreans are finding it easier to accept traditional dress to express their identity and pride. "I think modernized hanbok designs will continue to grow, but having that perfect balance of modern and traditional is important for the youth to adapt these styles," Terrence explains. "Other Korean brands have been contacting us to create more Korean-inspired pieces, so we are excited to create new things and see how they reach a bigger audience."

Act Local & Think Global

The boundless ideas, designs and potential of Korean youth will continue to permeate global culture. As they mold the ever-evolving definition of what it means to be distinctly Korean, new combinations of the traditional and modern will offer audacious and original creations, rerooting Korea's place in the world. But however crucial it is to stay true to local demands, it's also important to relate them back to worldwide communities beyond.

"In Korea, you have to act local but think global. Everything's connected now because of social media," says KB Lee, a creative consultant whose clients include Boon the Shop, Doosan, and Vogue Korea. "Koreans are not only interested in what's perceived as cool among themselves, but also want to participate in what's trending all around the world."

"What's for sure is that everybody is talking about Korea these days," KB continues. "Brands like Louis Vuitton, Chanel, Prada, and Givenchy have been constantly asking me about the Korean market. Korea and its pop culture dictate trends in greater Asian markets like China, Japan, India, Thailand and Vietnam. These countries are hubs for young, social media-savvy fans, so it's extremely important for brands and artists to gain solid ground in Korea."

Elaine YJ Lee is a writer based in New York.

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These Are the Trends Shaping Korean Youth Culture in 2021

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South Korea is undoubtedly a major player when it comes to fashion, music, entertainment, technology, and many aspects of consumer culture. A thriving hub of creative innovation, Korea has demonstrated its global impact time and again, a force that has only begun to gain momentum and will continue to grow stronger.

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If you didn't Instagram your new outfit, did you even wear it?

Instagram is a haven for fashionistas looking for outfit inspiration and trends, as well as brands and influencers to promote new styles and pieces.

You can increase your reach and engagement tenfold by using the right hashtags. This list of fashion hashtags is therefore a must for every blogger and brand in the fashion industry...
💡 Need to revisit your entire hashtag strategy? Check out our All-In-One Guide To Instagram Hashtags 💡
1. Most Popular Fashion Hashtags

Here's a summary of some of the most popular fashion hashtags on Instagram you'll be familiar with seeing...

These are all highly popular hashtags with millions of posts, so we'd recommend using a few of the most relevant, and mixing them up with more specific smaller volume hashtags.

#Fashion #OOTD #Style #InstaFashion #Vintage #FashionBlogger #Fashionista #StreetStyle #Stylish #MensFashion #WomensFashion #InstaStyle #LookBook #WhatIWore #FashionDiaries #StyleInspo #FashionBlogger #LookBook #WIWT #FashionWeek #FashionStyle #StyleBlog #Blog #StyleBlogger #StreetFashion #OutfitOfTheDay

2. Outfit Hashtags

OOTD (outfit of the day) has been a theme on Instagram for years, so it's no shock it tops the fashion hashtag charts! However, there are plenty of fashion hashtags you can use specifically to show off an outfit on Instagram:

#OOTD #OOTDfashion #DailyLook #InstaOOTD #WIW #WIWT #LookBook #OutfitPost #OutfitGoals #TodayImWearing #MeToday #OutfitOfTheDay #TodaysOutfit #OOTDShare #MyLook #CurrentlyWearing #MyLookToday #InMyCloset #LookOfTheDay #OutfitIdeas4You #OutfitLook #Inspofashion #InspiringOutfit #OOTDinspo #OutfitGrid

3. Men's Fashion Hashtags

The male fashion industry has just as much to play for on Instagram, with stylish male models, influencers and bloggers sharing their street style and latest looks. Here are the top men's fashion hashtags:

#MensFashion #MensStyle #MenWithStyle #Menswear #StreetStyleGuys #GuyFashion #StyleForGuys #MaleStreetwear #MensFashionTeam #MensFashionairy #MenAboutFashion #OOTDMenStyle #MensFashionApparel #MensFashionTrends #MensStylePage #MenOOTD #ClassyDapper #BestOfMenStyle #DapperMan #MensFashionFix

4. Swimwear Hashtags

A huge industry on Instagram, swimwear dominates travel bloggers' feeds all year round. If you're posting swimwear photos on Instagram, use specific swimwear hashtags to increase your reach

#Swimwear #Swimsuit #SwimwearFashion #Bikini #BeachWear #BathingSuit #TwoPieceSwimsuit #BikiniLove #BikiniStyle #BikiniLife #BikiniSeason #BeachBabe #LifeIsBetterInABikini #LuxurySwimwear #SwimStyle #FashionSwimwear #SwimwearBrand #SwimsuitSeason #SwimsuitsForAll #SummerSwim

5. Shoe Hashtags

We all know a shoe addict (if you don't it means it's you). Instagram is the platform for sharing photos and videos of new trainers, heels and sandals. Make your post stand out by using these top hashtags:

Remember to include hashtags stating the brand name i.e #NikeKicks or #LoboutinHeels - the important thing with hashtags is to be as relevant and specific as possible.

#ShoeAddict #InstaShoes #ShoeLover #Shoestagram #Shoeaholic #ShoeAddiction #ShoeGame #ShoeGram #ShoesOfTheDay #ShoeSelfie #ShoesOfInstagram #FootwearFashion #ShoeSwag #ShoeLoveIsTrueLove #ILoveShoes#Instaheels #ShoePorn #Sneakerhead #KicksOnFire #Kickstagram #Sneakerfiles #TodaysKicks #Solenation #ShoutMySneakz #Crepslocker #KicksOfTheDay

6. Handbag Hashtags

Got a new bag that you just have to share on Instagram? Make sure you use the top hashtags so fellow bag-lovers will find your post!

#Handbag #BagFashion #HandbagLover #HandbagAddict #BagCollection #PurseLove #HandbagStyle #LadiesHandbags #LeatherHandbag #BagsOfInstagram #BagsAndPurses #BagShopping #UniqueBags #VintageBags #ShoulderBags #ToteBag #PurseAddict #BOTD #CrossBags #PurseSwag

7. Jewellery Hashtags

On the topic of accessories, jewellery also has its own world on Instagram! Fashion lovers are always looking for additional ways to express their style and jewellery offers just that. Use these jewellery hashtags when posting your bling on Instagram:

#JewelleryGram #InstaJewel #JewelleryDesign #FashionJewellery #InstaJewellery #JewelleryOfTheDay #StatementJewellery #JewelleryLove #JewelleryTrends #BodyJewellery #JewelleryBox #JewelleryLovers #EarringsOfTheDay #EarringStyle #EarParty #EarringSwag #BraceletStacks #BraceletOfTheDay #Bracelet #NecklaceLover #NecklaceFashion #RingStack #RingAddict #ShowMeYourRings

8. Streetwear Hashtags

Street style is a huge niche on Instagram, particularly on Stories! People care about who is wearing what and look for inspiration for urban streetwear on the app. Use these streetwear hashtags specifically for any urban shots or stylish people out and about:

#StreetStyle #StreetwearFashion #StreetFashion #StreetLook #UrbanStyle #PauseShots #BestOfStreetwear #StreetwearAddicted #AllStreetwear#StreetwearSource #UrbanOutfit #StreetwearStyle #UrbanWear #StreetwearCulture #DailyStreetLooks #StyleBlogger #StreetwearCentral

8. Fashion Week Hashtags

Every year the fashion capitals of the world host week long festivities in their cities. New York, London, Milan, Paris you name it! Instagram activity amongst fashion lovers ramps up during this time due to all the models, brands, and visitors posting about fashion week. Join the conversation using these hashtags:

#FashionWeek #FashionWeekStyle #ParisFashionWeek #PFW #NewYorkFashionWeek #NFW #NYCFashion #MilamFashionWeek #MFW #ModaMilano #MilanFashion #LondonFashionWeek #LFW #FashionArchives #AnnaParisChic #Vogue #Runway #FashionMag #RunwayModel #RunwayStyle #RunwayFashion #EmergingDesigners #FashionDesigners

Hashtag Tips

When hashtagging, it's important not to overload or spam your posts with hashtags that don't work and could result in you getting shadow-banned.

The trick is to use a few generic and a few niche specific hashtags to give you the best reach - just make sure they are always relevant to the photo, video or story you've posted.
Check out our All-In-One Guide To Instagram Hashtags here for more tips!
For more top Instagram hashtags by niche, take a look at our other guides:

Schedule Hashtags In Advance

By scheduling your posts in advance together with your chosen hashtags, you will save time growing your Instagram account! 🤩

With Hopper HQ you can:

1. Search for the most popular hashtags

2. Add hashtags to your caption

3. Add hashtags to your first comment

4. Schedule your post and first comment in advance

5. Set and forget - Hopper HQ posts automatically for you!

Here is Hopper HQ's hashtag search and selector in action:
Try Hopper HQ free for 2 weeks and start saving time today!

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Best Instagram Hashtags For Fashion Bloggers

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If you didn't Instagram your new outfit, did you even wear it? Instagram is a haven for fashionistas looking for outfit inspiration and trends, as well as brands and influencers to promote new styles and pieces. You can increase your reach and engagement tenfold by using the right hashtags.

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For her Fall/Winter 2021, Victoria Beckham has translated a keen sartorial eye to the less disciplined, less stilted silhouettes of South Florida. Holding fast to the sharp lines and sculptural tailoring that underscores the VB house, fall gave us a collection with legs, in leaner, softer shades, Beckham drew from the open environs of Miami where she has been designing remote since the holidays.

Replete with floral lapels, gilded buttons, glittered boots, and pants up-to-there, F/W 2021 taps an unfussy edit, trading on the directness that has come to synonymize Beckham's archives. In a bid to collide with the post-lockdown zeitgeist, her designs became something all the more wearable, fundamental, categorical even - though style never wavered.

"I sell clothes," Beckham said. "I don't sell so many shoes and bags that my collections are just about ticking a fashion box. They're about creating clothes that people want to wear and can really wear. That's why commerciality is not a swear word to me."

And while it may be more de facto than defensive, any implied commerciality is never glaring against the fashion. Her latest clutch of overtly cool, oversized, wide leg, high-collared sophistication has jettisoned the excess and optimized what is ineffably the VB brand. Coming off of a consolidated spring line, this season marks the first to merge pre-collections with main collections - due in stores spring 2021.

"It's more relaxed. The little details we used to obsess over - there's less of that," she said. "We weren't in a position to do that, to be honest with you, and I like this sense of freedom."

Explore every look from Victoria Beckham's Fall/Winter 2021 collection below.

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Every Look from Victoria Beckham's Fall/Winter 2021 Collection

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For her Fall/Winter 2021, Victoria Beckham has translated a keen sartorial eye to the less disciplined, less stilted silhouettes of South Florida. Holding fast to the sharp lines and sculptural tailoring that underscores the VB house, fall gave us a collection with legs, in leaner, softer shades, Beckham drew from the open environs of Miami where she has been designing remote since the holidays.

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Victoria Beckham's pre-spring 2022 collection marks a "rebirth" of her fashion brand. It's how she refers to this week's decision to merge her main luxury line, Victoria Beckham, with her more accessible diffusion line, Victoria, Victoria Beckham. In the process, the designer is cutting the new brand's price tags by some 40 per cent compared to her historical main line prices, making her clothes more affordable to those who have limited their VB desires to window shopping in the past. The bold move heralds a new era for Beckham, whose pre-collection - the first as part of the rebirth - embodies her ongoing commitment to quality and the fashion-forward character that defines her. Albeit, she says, with a new focus on ease. Beckham and her company's CEO, Marie LeBlanc de Reynies, spoke to Anders Christian Madsen about their season of change.

Tell me about this "rebirth"

Victoria Beckham: What we've decided to do post-pandemic is to take Victoria Beckham and Victoria, Victoria Beckham and merge the two into one cohesive brand. It will bring our average price point down from over £900 to £550 without compromising the desirability, quality, and ready-to-wear aesthetic.

What brought this on?

VB: We saw such a huge opportunity and change in the way that people not only want to dress, but shop. We saw a sweet spot with this price point, if you like. It will just mean that we'll have a more accessible entry price, but we'll still have the high-end pieces. There's not a single seam that feels like a compromise, and I'm really excited about it.

Marie LeBlanc de Reynies: We have used this time to look at how the market looks, our brand, and our community. We've come to a natural result, which is to bring the VB and VVB brands under a single umbrella, maintaining the elevated, feminine, confident feel of VB, but expanding into ease and proposing a 360-degree luxury, affordable brand to our community.

Is the decision an outcome of the pandemic?

MLBdR: We've seen a consistent shift during the pandemic, which is looking into ease, a care to the price point, and also a lifestyle way of buying. We've seen a huge opportunity in the market, which is a space for an affordable luxury brand. It's about having an elevated, chic brand and maintaining our DNA, but providing more functions - more ease - and making sure our consumer can relate to the brand both in terms of use and price point.

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Victoria Beckham's Bold Shake-Up Of Her Brand Signals A New Era For The Designer

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Victoria Beckham's pre-spring 2022 collection marks a "rebirth" of her fashion brand. Beckham is merging her main luxury line, Victoria Beckham, with her more accessible diffusion line, Victoria, Victoria Beckham. In the process, the designer is cutting the new brand's price tags by some forty per cent.

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While living in South Korea in early 2011, I quickly learned about a convenient, fun app called "KakaoTalk." Have you heard of it yet? If not, you're missing out-and here's why.

The app launched on March 18, 2010, and was available on iOS, Android, Bada OS, BlackBerry, Windows Phone, Nokia Asha, Windows and macOS.

After using the app, I found I could send text messages to friends (that didn't cut into my monthly text limit), send stickers and even make phone calls within the app (it didn't affect my monthly cell minutes).

The app became absolutely essential to me-as well as being easy to use and fun. There were many more features than Facebook's rival What'sApp-and it quickly moved from "nice-to-have" to "can't-live-without it" on my iPhone.

After a move back to the states, I was happy to see that KakaoTalk was indispensable for more people than just expats living in Korea ... it was really taking the world by storm.
KakaoTalk's success (and why you need to know about it)
Today, Kakao Corp offers many different features-the KakaoTalk app is among their most popular. The company reported major growth this year, jumping $3.49MM more than last year's Quarter 4 profits.

And for another example of growth, check out VentureBeat's report on KakaoGames, which reached 550MM+ registered users in 2017.

KakaoTalk saw monthly average users (MAUs) increased 1.2 percent from last year to top $49.8MM.

While WhatsApp ( 1.2B users worldwide) and Facebook Messenger ( around 1B users), dominate in many countries, they can't seem to crack South Korea's KakaoTalk app users.

Check out this graph from eMarketer, showing the percentage of users per app in South Korea-KakaoTalk is far ahead of its competitors.

KakaoTalk's popularity isn't just about talking with friends

With so many features, the real popularity of KakaoTalk might lie in its user-friendly design, and from creating an all-in-one app ecosystem.

Some of the recent upgrades to KakaoTalk include direct access to content, such as games and music.

Users also can make online payments with KakaoBank, which, according to Business Korea, allows users to transfer money to folks on their friend list without the need for their bank account numbers.

From booking hotels and making restaurant reservations, sending photos, videos, voice messages, and even sharing their location with others, KakaoTalk's users have the benefit of many apps all in one.

It's super convenient to talk, bank and get other errands done, all in one app, without having to log into many different platforms.
Other features that take KakaoTalk from nice-to-have to essential for users:
* Free conference calls (with support for up to five people) called VoiceTalk
* Polling and scheduling feature for members in the chatroom
* All data is encrypted
* Supports 15 different languages
* No banner ads

Your website visitors can now share directly to KakaoTalk!

Now that you know the hugely positive impact KakaoTalk has on its users, here's some awesome news: AddThis just launched a new KakaoTalk share button!

Adding to our KakaoStory share button-the KakaoTalk share button allows your visitors to easily share content directly to the app from their mobile devices.

This means there's another way for your visitors to enjoy a better experience on your website, plus easily and quickly share stories with their friends and networks. All this is a win-win for your brand's content.

Ready to get started? Click here to activate the KakaoTalk Share Button to allow visitors to share your content directly to KakaoTalk on mobile.

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While living in South Korea in early 2011, I quickly learned about a convenient, fun app called "KakaoTalk." Have you heard of it yet? If not, you're missing out-and here's why. The app launched on March 18, 2010, and was available on iOS, Android, Bada OS, BlackBerry, Windows Phone, Nokia Asha, Windows and macOS.

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Waste Not Want Not

" I was very struck by the realisation that there is no waste in nature. We must start seeing waste for what it is, which is 'a resource'. How we can continue our efforts to strive for circular wasteless fashion using creativity and craftsmanship. This is a journey but one that we need to accelerate fast. " - Anya Hindmarch

Introducing new recycled nylon

To continue our work around the circularity of materials, we are so pleased to share that each new addition to the nylon collection will be made from recycled ECONYL® nylon. The current collection will transition across as and when each piece sells out to avoid any unnecessary waste.

Waste such as fishing nets from our oceans, fabric scraps from mills and carpets destined for landfill are collected and cleaned to recover as much nylon as possible. The nylon waste is recycled back to its original purity through a radical regeneration and purification procedure and is then processed into a textile yarn. Finally, the regenerated nylon (which is as good as virgin nylon) is made into our luxurious nylon bags and accessories.

It is estimated that 92 million tonnes of textile waste is created annually from the fashion industry. Every second, the equivalent of one garbage truck of textiles is landfilled or burned globally. The problem of dead stock and waste is enormous. In an effort to reuse what we already have, we created the Patchwork collection.

How It's Done

Each piece of leather is skived down to create a uniform thickness and to ensure the final patchwork is perfectly flat. It is then laser cut and every edge is hand polished. It is then placed onto a panel using water-based glue to create each design.

Due to the intricate nature of the designs it is not possible to sew the patchwork through a programmed machine. Instead a skilled operator has to manually control each stitch from beginning to end.

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"I was very struck by the realisation that there is no waste in nature. We must start seeing waste for what it is, which is 'a resource'. How we can continue our efforts to strive for circular wasteless fashion using creativity and craftsmanship. This is a journey but one that we need to accelerate fast."

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1 – Introduction; set the scene of the situation by providing context and background about the brand and its products.

2 – Challenge; what is the problem that the brand is facing; why they would need to expand internationally?

3 – Solution; provides a general overview of the proposed strategy and how this would benefit the Brand.

4 – Benefit; Justify why this strategy is the right choice for the brand and how this could be further expanded to different markets (if relevant)

5 – Result; bring your conclusions and recommendations.

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Introduction:

About VB. The brands history/ purpose

current Positioning in the market

Current performance, current consumer

Existing product

Challenge:

What is the problem the brand is facing? why is it not performing well?

How has the global landscape changed and what impact has this had?

Solution:

What is your solution for global expansion, how are you going to implement it?

The Concept

The Expansion Strategy

The South Korean Consumer

The Operational Process

Marketing strategy

Benefit:

Why will it help?

Benefits of the South Korean market

Benefits of the South Korean consumer

Benefits of global exposure

How/Why will this market and concept encourage success?

Legal and regulatory policy at local, national and international levels/

Government laws that would benefit the concept.

Market drivers success

CONCLUSION & RECOMMENDATIONS - Further expansions?