A large percentage of consumers that purchase Tory Burch clothing are mothers just like the designer of the brand and this is one of the reasons why her brand became so popular. So far Tory Burch has succeeded in expanding the brand with items such as tunics, ready-to-wear collections, eye-wear, footwear, accessories, and a new fragrance deal with Estee Lauder.There will possibly also be a future creation of a sportswear line for yoga, tennis and golf enthusiasts.
Competitive Advantage
Tory Burch has participated in using the product development strategy in order to bring more consumers into buying the brand and it has made a huge impact on the expansion of the brand itself. She did this by starting with the creation of tunics, ready-to-wear collections, accessories and footwear. Then she started selling eye-wear, home items and now fragrances. This helped her reach out to new potential loyal consumers.
Tory Burch has also used the promotion strategy as well in order to get her company to expand. She was actually on the Oprah Show one day and when the next day came along, she ended up having about eight million hits on her website. This was when her brand started to grow and expand into a huge company. Another thing that Tory Burch did was use social media to be in contact with her consumers and obtain feedback from them. This definitely helped her produce better products that the public wanted.
S.W.O.T. Analysis
Strength- The brand is very affordable and it fits the taste and style of a lot of women.
Weakness- She hasn't created clothing for men or kids.
Opportunity- Expanding to other parts of the world besides America.
Threat- Michael Kors is another brand that is similar to Tory Burch. Therefore, this becomes competition for Tory Burch and it can definitely be a threat.
Target Market
Women of all ages but mostly mothers that had full time jobs.
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