There are 5 different segmentations in the fashion industry as showcased in the above diagram.
Couture
Couture fashion was born in the mid 18th century by Charles Fredrick Worth, to make it impossible for lady's to turn up to events in the same attire. The starting point of of daywear couture of £8,000 and there are over 2,000 seamstress that bring couture to life. The fashion is made to measure by hand and rare fabrics and process embellishments are used, this leads to the clothe being flawless. The main buyers are from Russia, China and the Middle East (BRICS) and are defined by their fashion awareness, one of the most known clients is Daphne Guinness. Clients often refer to their couture pieces as art work, this is sue to the craftsmanship that goes into the clothes, as well as the fact that the clothes will gain value over the years. Couture has to adhere to the requirements of the French Ministry of industry and Paris Haute Couture Fashion Week autumn/winter 2013 runs from June 30 - July 5.
The main couture houses are:
- Christian Dior
- Chanel
- Jean Paul Gaultier
- Givenchy
- Valentino
Luxury
Luxury fashion can be dated back to the 19th century and the items are priced high enough to make customers feel like they are part of the elite. The stereotypical customer is of social case A, earns over £100,00 per year and is aged 35-54. The main luxury groups are LVMH, Kering and Richemont.The leading Luxury brands are Louis Vuitton, Burberry, Chanel, Prada, Gucci, and Hermes.
Facts
- China has become the largest consumer of luxury goods
- 99% of Louis Vuitton on the market is fake
- At the end of the year Louis Vuitton
Bridge Brand
The entry price for a bridge brand is £50, they originated in the 70s due to a gap in the market where consumers had become bored with diffusion stores and wanted luxury items but with a high street price. The characteristics of these consumers are middle class women aged 30+.
Examples of a bridge brand are:
Reiss - turnover of £100 million (2012) and is considered one of the first bridge brands to crack America
Sandro
Joseph
Sandro
Joseph
Diffusion
Diffusion brands are an extension of an already existing luxury brand, however they are generally cheaper than the main line collection. The advantage of having a diffusion brand is that it can reposition the brand as a whole and gain new customers. As they are repositioning themselves as a brand of mass and affordable luxury. The diffusion brands are a great way of targeting a younger target market that can not afford the parent brand. Diffusion brands have more variety than their luxury parents, the luxury brands won't do this as they feel it will devalue the rest of the brand.
Diffusion brand examples:
Armani - Armani Exchange
Calvin Klein - CK
Prada - Miu Miu
Chloe - See By Chloe
Calvin Klein - CK
Prada - Miu Miu
Chloe - See By Chloe
High Street
The high street is the smallest segmentation and due to the press from the internet they are fighting for survival. The type of fashion these stores sell are clothes that are cheaper than designer however the clothing is of a lower quality. Also the clothes are not always on trend however they tend to have a catwalk element, but often the style is basic and generic.
Examples of high street stores are Marks and Spencers, Debenhams, Zara and H&M. The core market is males and females aged 45+, where functional situations influence these consumers style choices and most of the customers are moving to fast.
Economy
It was not until Edwardian times that shopping became the retail therapy that it is today. Economy fashion is for consumers who want on trend garments at affordable prices. The point of economy fashion is that it is for everyone however the stores have different target markets. The man who owns Index is the richest man in Europe and the people who own Primark also own Selfridges.
The Entry prices on average are jeans £10, tees £7, dresses £10 and knits £15. Examples of economy fashion are Forever 21, Pull and Bear and Primark.
