VERO MODA was one of the first brands to launch within the Bestseller family. Today VERO MODA is one of the largest brands in the company. The vision of the brand was to fulfill a need for good quality, on-trend clothing at affordable prices. VERO MODA is the brand of choice for the fashion-conscious, independent young woman who wants to dress well and pay less. Today, VERO MODA has more than 1,000 stores in Europe, 1,600 stores in China, and experience rapid growth in both India and Canada. VERO MODA is represented in almost 45 countries. Vero moda has two in-house labels that specialize in a certain type of apparel that is-
Y.A.S- The core collection is founded in our eternal passion for luxurious fabrics, contemporary shapes, modern lines, and refined silhouettes. Y.A.S stays true to its ethos, which is a design approach centered on well-crafted, feminine collections with a touch of edge and understated coolness. Noisy May is a team of passionate individuals bound together by their love for fashion and true denim.
SEGMENT- Young adults, young independent women, fashion conscious women. Between the age group of 18-35
TARGET- It targets the upper middle class and high class; with annual income of 5 lakhs and above.
THE FOUR P’s
PRODUCT
Vero Moda has apparel, accessories and shoes.
Women’s wear
Vero moda caters to the fashion loving populace.
Vero Moda clothes follow the current fashion trends and patterns. The silhouettes are very feminine, stylish and semi-formal. It doesn’t give a casual look rather a very prim and proper feminine look and feel. Premium quality fabrics are used giving the products a very luxurious feel. The colours used by the brands are sober and sophisticated and then again they have a section with bright feminine colours. The colour pattern is also tweaked from time to time according to the season’s trends. It offers a wide range of sizes catering to all- from an XS to a XL.
Accessories & shoes
The accessories include wallets, scarfs, earrings, neck pieces and rings. The accessories are again quite feminine and complement their apparel range. Scarfs use a lot of trendy prints. The wallets and shoes use a lot of leather and sequins- Keeping the target audience in mind this is very apt as a young fashionable working women need both to go with their professional and social life.
PRICE
Vero moda has placed itself has a affordable fashion brand for young independent women.
The price ranges from Rs 400 to Rs 6000.
Since the brand is providing good quality and follows current fashion trends , their customers don’t mind paying that extra bit. Vero Moda has a very niche and sophisticated feel to it which is also reflected through it clothes. But it’s pricing strategy is such that it should target the young independent women who are willing to look good but at affordable prices. Women today are smart and aware and look for the best deals. Thus Vero moda is giving them high quality fashion at an affordable price and service. The strategy is that the price should come as a pleasant surprise to its customers.
The competitor brands are Zara, Mango, Chemistry.
Zara and Chemistry are similarly priced whereas Mango is priced at a higher
level.
PLACE
The brand targets the fashion conscious independent women and the upper middle class and high class.
By Place it means the distribution channel a company follows. Maximum distribution of its products is direct. The brand owns independent stores. Off late they have set up sections in other departmental store that share a similar design philosophy. The brand is placed in a mall or high street which is frequently visited by the target audience. Vero Moda has not restricted itself only to high street or exclusive malls as it talks about affordability and reaching the masses.
PROMOTION
Above the line-
Vero Moda doesn’t have much of above the line promotion. It doesn’t have tv or radio commercials. Though it does promote itself quite a bit through print media; especially in fashion magazines. For new collection Vero Moda prints out catalogues which are circulated to frequent customers and given to any visitor who comes to the store..
Below the Line-
Vero Moda has its own active website which is regularly updated. It also conducts online competitions and other promotional activity. The brand sends out regular mails to its valued customers always keeping them in the loop. Thus maintaining a good customer base and trying to create a brand loyalty for itself.
One of the most striking promotional activities is the window displays done by the brand. Its out of the box, trendy and very attractive. It speaks smartness, class, chic, sophistication.
During sales they have special window displays and holdings. This makes more and more people aware about their ongoing sale.
SWOT ANALYSIS:
STRENGTH-
Fashionable and trendy
Affordable pricing
Good quality
Spacious stores
Strong brand image
Brand awareness
WEEKNESS
Not enough promotion ( tv commercials, endorsements, )
Repetition and can get monotonous
Narrow target audience ( only young women)
OPPORTUNITIES
To broaden target audience ( menswear, children)
More commodities
THREATS
Competitor brands
Global brands
Brands with better promotional strategies
Better offers and pricing strategies.
