The success of a business relies on various characteristics from their customer service to the quality and details of their products or services. The fashion industry is among the most important contributors to the state of the global economy. This industry promotes investment, trade, and provides employment to many people globally. It also has a wide variety of products, ranging from clothing to accessories. The diversity of people’s styles and way of life contributes to the growth of the fashion industry as it strives to meet the demands of its customers.
Some of the characteristics considered admirable in businesses include originality and exclusivity of its products, effective marketing skills and optimizing the use of influencers, and promoting innovation. Companies that maintain the originality and exclusivity such as Chanel, Victoria Secret, Gucci, and other successful fashion companies manage to retain their customers and gain more profits from their business. Although these companies have been around for a long time, they are renowned for their originality, hiring highly skilled craftsmen to work on their products and uniqueness. These companies use effective marketing strategies to attract customers such as annual sales, to fashion shows, and optimization of video content, which promotes their profitability. Encouraging employees to be innovative and come up with better products enables businesses to succeed.
Admired Organization and Fast Facts
The business organization that I admire the most is Chanel. A high fashion company focuses on fashion accessories and women’s clothing. Some of the fast facts related to this fashion house include:
- Business name: Chanel S.A
- Location: Neuilly-sur-Seine, France, London, United Kingdom
- Mission: “To be the Ultimate House of Luxury, defining the style and creating desire, now and forever.”
- Founder: Gabrielle Chanel (Coco Chanel)
- Other top leaders: Co-owners Alain Wertheimer and Gerard Wertheimer
- Organization structure: Private company
- Description of products or services: Women’s haute couture, ready to wear clothes, jewelry, accessories, and perfumes
- Number of employees: 20,000 (as of the end of 2018)
- Revenue: $9.6 billion
Why it is Admirable
Chanel is admirable because of the high quality of its products, classicism, leadership, and quality of employees, and marketing skills. Chanel views its accessories, clothes, and perfumes as being important that ordinary products, which reflects how the company values itself. Their accessories can be paired with numerous looks and last for a long period making customers appreciate the value of their products. Aside from that, Chanel products seem to surpass the limits of time and modern fashion. By retaining its classicism, it has managed to appeal to different age groups. These factors have promoted the brand’s popularity. Hiring highly qualified employees enables organizations to produce high-quality products and meet the needs of their customers. Chanel’s creative director, Karl Lagerfeld, has managed to maintain the trend and uniqueness of the company’s products, even after the death of its founder. Effective marketing skills are important to me because they illustrate the commitment of the company to promote their products. Chanel creates unique and unforgettable runway shows that portray the beauty, elegance, and timelessness of their products such as their mock feminist protest during the Summer/Spring 2014 runway presentation (Gibson). These factors have promoted the brand’s popularity.
In 2017, the Chanel Company was accused of taking over the indigenous Australian culture by selling a boomerang as part of their French accessories collection. The boomerang was priced at $2,000 and attracted criticism related to cultural appropriation as it was traditionally used for hunting among indigenous Australians (Blair). Although sportswear and equipment were part of Chanel’s identity, the creation of the boomerang lacked classicism and creativity.
The three things that Chanel’s top management should keep in mind include maintaining the timelessness of their products, using high-quality raw materials for their creations, and innovation. By maintain the timelessness of their products, their customers will enjoy buying their products knowing that they will never be considered old-fashioned. Aside from that, customers can pass their products to their daughters and grandchildren who will enjoy the luxury of owning Chanel products. Continued use of high-quality material will promote the longevity of their products, thereby keeping their customers satisfied. Using innovation to come up with new products, will keep their customers glued to this brand.
Blair, Olivia. Chanel has been accused of cultural appropriation over its $2,000 boomerang. Business Insider 16 May 2017. <https://www.businessinsider.com/chanel-accused-of-cultural-appropriation-over-2000-boomerang-2017-5?IR=T>. Accesed 30 January 2019
Gibson, Megan. Chanel closes fashion show with faux-feminist protest. TIME 30 September 2014. <http://time.com/3449319/chanel-feminist-protest/>. Accesed 30 January 2019