A niche market is the smallest market segment targeted by a particular brand or multiple brands. Therefore niches are the smallest and differentiated market segmented with high growth potential. However, before a segment is selected four basic considerations must be made which include. The attractiveness of the market niche, the growth potential, high volume of affiliate products to promote the brand and ability to generate revenue.
The focus of this assignment is on three fashion niche brands marketed and sold in the Net a Porter Shopping site. The three brands are the top fashion designers in the world and are targeted to celebrity clients. Therefore, their niche market is celebrity customer's majorly influential musicians, actors and famous politicians. The three brands are Magda Butrym, Attico and Saks Potts
To begin with Magda Butrym, it is a luxurious fashion designer label which relies on online shopping to expand its niche market by using end user nichemanship. Nevertheless, the brand focuses on a specific group of customers to maintain consistency while giving the clients a personal sense of fulfillment which incorporates the principle of specific customer specialist. The brand launched in 2014 in Warsaw in Poland and it has risen to become one of the most celebrated fashion designer brands in the world. The existence of Net a Porter has contributed immensely to the growth of Magda Butryn due to wide exposure accorded by the famous online site. Moreover, Net a Porter is a niche brand itself and focuses on a luxurious brand like Magda Butryn hence providing a conducive marketing platform Magda Butryn.
Magda Butryn began as a ready to wear fashion designer and acquired an enormous customer following in the global fashion celebrity dressing due to the uniqueness of its fashion and designer products. The brand is composed of high quality bohemian aesthetic fashion clothes and it follows an artisanal production which has facilitated command of a large market demand in the fashion design with high fashion preference from the celebrity clients. The brand was activated by the increasing demand for celebrity fashion designers globally and the need for a unique appearance in the music world.
The second niche brand under consideration is Attico which is a Luxurious Italian fashion brand. The creation of Attico niche brand was necessitated by the celebrity appeal of its proprietors and an enormous celebrity social following. Moreover, the fact that the proprietors of Attico were celebrities, it made it easier for them to understand the needs of fellow celebrities in the world hence created a fashion design to address the need for feminism and women focused fashion designs. The Attico brand is also a niche brand and targets the celebrity clients majorly musicians. The brand just like Magda Butryn is retailed in the Net a Porter online retail shop and it was the biggest revenue contributor to sales in the financial year 2017-2018.One of the major critical success factors for Attico is its biggest online presence of its founders; Giorga and Gilda who have over 250000 Instagram following. The enormous online following signifies massive influence which serves as a primary driver for of the demand of Attico fashion label.Nevertheless, the proprietors of the attico brand have a progressive vision and they have expanded their product lines to include jewelry such as ankle strap and focuses on including other lines such as furniture and stationery to deepen their brand. However, the brand niche is expected to remain competitive through the use of celebrity marketing and focuses purely on marketing to celebrity clients
The final brand which culminates our discussion is the Saks Potts. Saks Potts is purely women wear fashion designer which was founded by Barbara Potts and Catherine Saks. Saks Potts was established in order to address the idea of feminism where celebrity women needed an exclusive female brand which was able to offer high-quality fashion by following the principle of product line specialist to retain customer loyalty. The brand is based at Copenhagen and is composed of crafted fashion designer clothes which are targeted on celebrity women like Kim Kardashian. Saks Potts has ensured consistency in offering value to their clients while remaining competitive by offering their products in accordance to the celebrity designer clothing and charging exorbitant prices as addressed by quality price role of nichemanship.
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