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The Decline Of Premium American Fashion Brands. What Happened, Ralph And Tommy?

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When? This feed was archived on December 10, 2016 06:08 (7+ y ago). Last successful fetch was on November 09, 2016 22:26 (7+ y ago)

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Manage episode 160430333 series 1163687
Content provided by Newsbeat. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Newsbeat or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Iconic American brands have lost their luster. Many are on a downward spiral, hit by sluggish sales. Ralph Lauren is facing plunging profits resulting in the shuttering of retail stores. Coach is in a similar boat, having lost significant market share. Michael Kors recently devised a strategy of cutting back on discounts, since markdowns appear to have killed the company's cachet. Calvin Klein and Tommy Hilfiger, which are owned by the same parent company, have seen decreasing sales in the U.S. market, though they are still doing well overseas. What went wrong? How did premium American companies lose their way? And is there a new generation of labels that will fill the void? Charles Lawry, a professor at Pace University's business school who specializes in studying the luxury market, points to how high-end American brands have been creating cheaper products for decades now. "Ralph Lauren was one of the first American luxury brands to reach across many different categories, and that is really what made it successful," Lawry explains, pointing out that the company has at least 25 different lines, including the lower-end Polo and Chaps. "It is possible to purchase products from $25 to $3,000." For a time, this strategy was extremely lucrative; soon, other brands followed suit, including MK by Michael Kors and Donna Karan's DKNY. By the early 2000s, Donna Karan, Ralph Lauren, and Coach had gone public. By 2010, the public company Phillips Van Heusen Corp. owned both Calvin Klein andTommy Hilfiger. In their new incarnations, these companies all faced new shareholder pressures to keep business booming. "Growth became more important than brand," says Stephanie Sarka, who held various leadership positions at Coach throughout the 1990s and had a front-row seat to this wave of IPOs and mergers. "This meant everything from lowering the cost of manufacturing to making the brand accessible to new, wider spectrum of consumers."
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1011 episodes

Artwork
iconShare
 

Archived series ("Inactive feed" status)

When? This feed was archived on December 10, 2016 06:08 (7+ y ago). Last successful fetch was on November 09, 2016 22:26 (7+ y ago)

Why? Inactive feed status. Our servers were unable to retrieve a valid podcast feed for a sustained period.

What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.

Manage episode 160430333 series 1163687
Content provided by Newsbeat. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Newsbeat or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Iconic American brands have lost their luster. Many are on a downward spiral, hit by sluggish sales. Ralph Lauren is facing plunging profits resulting in the shuttering of retail stores. Coach is in a similar boat, having lost significant market share. Michael Kors recently devised a strategy of cutting back on discounts, since markdowns appear to have killed the company's cachet. Calvin Klein and Tommy Hilfiger, which are owned by the same parent company, have seen decreasing sales in the U.S. market, though they are still doing well overseas. What went wrong? How did premium American companies lose their way? And is there a new generation of labels that will fill the void? Charles Lawry, a professor at Pace University's business school who specializes in studying the luxury market, points to how high-end American brands have been creating cheaper products for decades now. "Ralph Lauren was one of the first American luxury brands to reach across many different categories, and that is really what made it successful," Lawry explains, pointing out that the company has at least 25 different lines, including the lower-end Polo and Chaps. "It is possible to purchase products from $25 to $3,000." For a time, this strategy was extremely lucrative; soon, other brands followed suit, including MK by Michael Kors and Donna Karan's DKNY. By the early 2000s, Donna Karan, Ralph Lauren, and Coach had gone public. By 2010, the public company Phillips Van Heusen Corp. owned both Calvin Klein andTommy Hilfiger. In their new incarnations, these companies all faced new shareholder pressures to keep business booming. "Growth became more important than brand," says Stephanie Sarka, who held various leadership positions at Coach throughout the 1990s and had a front-row seat to this wave of IPOs and mergers. "This meant everything from lowering the cost of manufacturing to making the brand accessible to new, wider spectrum of consumers."
  continue reading

1011 episodes

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