Conclusion

Conclusion.

The current Paul Smith collection targets the appropriate customer. The Paul Smith customer is a creative quirky individual who has a strong sense of his own style who likes classic fashion with an inventive twist.

Paul Smiths main competitors on price are Dunhill, Giorgio Armani and Yves Saint Lauren; however their competitors on style are Ted Baker, Calvin Klein and Dunhill.

Store locations are situated across the globe. London, where the brand first developed, has Paul Smith stores in prime locations, including his flagship stores in Covent Garden and Notting Hill. Despite being a London designer, a large number of his stores are in Japan.

Paul Smith has a strong brand identity and as such has a variety of promotional tools that he uses. He has a strong print ad campaign which can be found in a variety of publications. He utilises new promotional tools such as his blog, film and exhibitions to enhance the brand identity. 

Paul Smith’s Autumn/ Winter 2010 collection has a wide range of products, including many different shirts and tailoring. He provides his customer with sharp tailoring, knitwear and T-shirts which allows them to put their own look together and mix and match throughout the range.

SWOT

Strengths-

• Strong brand identity.
• Wide variety of products in different styles and colours.
• Good understanding of customer.
• Well- designed shop interiors.

Weaknesses-

• Not enough UK stores as whole.
• Different lines are not clearly identified within stores.
• Pricing is not as competitive as other brands such as Ted Baker and Dunhill.

Opportunities-

• Open more stores throughout the UK, not just London and Nottingham.
• Define different lines more clearly in stores through lookbooks and more defined sections in store.
• More competitive prices.

Threats-

• Competitors such as Ted Baker are better at targeting younger markets, therefore encouraging customers to stay with the brand as they grow older.
• Cost of sourcing fabrics and manufacturing as the company is routed in Britain and Europe.
• Cheaper fashion forward option available such as Topman and H&M.

Overall Paul Smith is a brand with a clear identity and has a strong design aesthetic. The brand continues to evolve to meet the needs of its customers as the market changes but needs to be aware of threats and make the most of oppurtunities.