Essay on Givenchy Company and Business Overview

Business overview

The Givenchy Company guarantees the latest and trendiest in Ready To Wear (RTW) women’s, children’s and men’s fashionable clothes, Haute-Couture for women, beauty products, exclusive and high quality shoes, accessories and leather goods e.g. handbags. The area where the Company is located was in need of a state-of-the-art store which carried fashion-conscious and upscale designs of the aforementioned products. This was necessitated by the laxity of competing stores to stock up on diverse styles; much to the chagrin of esteemed clients. Traditionally, customers who wished to buy specific high-end products in order to make a fashion statement had to make the trip to neighbouring cities and towns to look for their desired merchandise (Belk, 2003). In the fashion industry, Givenchy Company has found its niche through wide-ranging and unmatched selection of different styles and designs of all the products it carries. Givenchy Company operates using a business model that is unique and that is responsible for its success and growth in the industry.

Mission

Givenchy Company’s mission is to stock and carry the latest and fashionable products in the fashion industry in addition to giving customers the best customer experience journey in the industry. For every Company, the clients are at the heart of their operations (Fang et al., 2011), and it is no different for the Givenchy Company which endeavours to be the go-to store for buyers seeking top-quality RTW, Haute-Couture for women, accessories, high quality shoes and leather goods . The Company also seeks to attract new buyers as well as keep existing customers. Loyalty to these ideologies ensures that customers’ needs and expectations are met and the customer maintains their fidelity to the Company (Yang, 2003).

Strategic plans

1. Coming up with a Company anchored on customer satisfaction and prides itself in timely delivery of products for maximum customer experience.
2. A 40% increase in the number of customers per annum. This should be achieved on the background of meeting the insatiable demands of customers and providing professional as well exceptional support to clientele.
3. Setting up a Company whose day-to-day running costs will be generated from its own revenue.

The Company’s competitive edge

The company holds specific advantages over its rivals in the industry. The Company carries versatile collections of merchandise that are unrivalled. In order to maintain a competitive edge over direct and indirect competitors, two approaches are utilized. First of all, Givenchy Company endeavours to carry products of different styles. Whenever a fashion-conscious customer is unable to access a vast repository of good quality fashion-forward products, the company steps in. Givenchy Company’s competitive edge is deep-rooted on this understanding. One size/product per style is the unique inventory technique adapted by Givenchy Company. This approach allows the Company to provide a wide range of styles of upscale fashionable merchandise (Grauzer et al., 2013). Consequently, customers can preorder diverse flairs, notwithstanding the products stocked in the store that are not the desired fit.

Organizational structure

Mary Hillary solely owns the Givenchy Company. She holds an MBA in Marketing from the University of California and is vastly experienced in women’s shoes industry. Ms. Hillary works full-time at the Company and she is in charge of inventory management, hiring and administrative details. The Company has a marketing department which is charged with promotion and advertising campaigns. The sales department is mandated to generate sales on a regional and national basis. Finally, the Company has the distribution department which handles the delivery of products to the buyers through department and internet stores (Hudson, 2012).

Figure 1: Givenchy Company profits over the last five years.

Figure 2: Givenchy Company Gross Margins in the last five years.

Following the good numbers posted by Givenchy Company over the last five years, it is recommended that the company should expand and become a global franchise of the brands it carries in its store.

References

Belk, R. W. (2003). Shoes and self. ACR North American Advances.

Fang, Y. H., Chiu, C. M., and Wang, E. T. (2011). Understanding customers’ satisfaction and repurchase intentions. Internet research.

Grauzer, A., Snow, R. M., Roberts, J. R., Jackson, J. P., Wadds, N. J., and Schubert, O. M. (2013). U.S. Patent No. 8,511,684. Washington, DC: U.S. Patent and Trademark Office.

Hudson, A. (2012). Differentiate Yourself This Holiday Season. Marketing.

Yang, C. C. (2003). Improvement actions based on the customers’ satisfaction survey. Total Quality Management & Business Excellence, 14, 919-930.