Richemont SWOT Analysis, Competitors & USP

Posted in Lifestyle and Retail, Total Reads: 6556
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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

Richemont is a leading company in the field of luxury watches and goods

Richemont STP

Segment

Aspiration lifestyle based segment

Target Group

SEC A and SEC A+ audience

Positioning

Richemont offers unique design with traditional skills

Richemont SWOT Analysis

Strengths

Below is the Strengths, Weaknesses, Opportunities & Threats (SWOT) Analysis of Richemont :

1. Richemont 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. Richemont 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. Richemont 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. Richemont need to promote and market brands aggressively as compared to some of its competitors

2. Limited global presence specially in emerging economies

Opportunities

1. A joint venture of Richemont and Polo Ralph Lauren can help boost business

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. Richemont can invest huge money in brand promotions in order to maintain their image.

3. Counterfeits often penetrate the market which hurt the brand image

Richemont Competition

Competitors

Below are the 10 main Richemont competitors :

1. Louis Vuitton

2. Gucci

3. Tiffany and Co

4. Bulgari

5. De Beers

6. Cartier

7. Chopard

8. Rolex

9. Omega

10. Rado


The brandguide table above concludes the Richemont SWOT analysis along with its marketing and brand parameters. Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry.

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