Richemont SWOT Analysis, USP & Competitors

Posted in Lifestyle and Retail, Total Reads: 5100
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SWOT Analysis of Richemont with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Richemont

Parent Company

Compagnie Financière Richemont S.A.

Category

Specialty luxury goods stores

Sector

Lifestyle and Retail

Tagline/ Slogan

N.A.

USP

Leading company in the field of luxury goods

STP

Segment

Aspiration lifestyle based segment

Target Group

SEC A and SEC A+ audience

Positioning

Unique design with traditional skills.

SWOT Analysis

Strengths

1. It makes jewellery, fine watchmaking and premium accessories, which encompasses writing instruments, leather goods and fashion.
2. One of the top 10 biggest company in the Swiss Market Index
3. It is the second-largest luxury goods company in the world by turnover.
4. Particular strengths in jewellery, luxury watches and writing instruments

5. Employs over 20,000 people

6. It encompass several of the most prestigious names in the luxury industry including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Panerai.

Weaknesses

1. Need to promote and market brands aggressively.
2. Limited global presence specially in emerging economies

Opportunities

1. A joint venture of Richemont and Polo Ralph Lauren Inc.
2. More than dozen of companies are fully owned subsidies of Richemont eg. Montblanc.
3. More enhanced penetration in global and emerging economies

Threats

1. Competition largely exists on how potent and valuable the brand image has become.
2. Invest huge money in brand promotions in order to maintain their image.
3. Counterfeits often penetrate the market.

Competition

Competitors

1. Louis Vuitton
2. Gucci


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