H&M and its marketing strategy by Yangyang
Several days ago, I posted Valentino for GAP and also mentioned H&M’s Lavin collection. When I went through Yangyang’s blog, I read her context about H&M strategy. Also we all knew that H&M produce the new line from H&M×Lanvin and start this promotion on Nov. 20. In today class, we learned new marketing strategy- called co-branding, which is that two brands cooperate to produce new product with both logos and names. This cooperation between Lanvin and H&M is definitely co-branding.
As we know H&M use co-branding strategy every year. In Vancouver, H&M’s strongest competitor is Zara. Their level of products and prices are similar. H&M find a way to compete Zara that sells luxury brand with lower price. Yang Yang classified that “Take H&M×Lanvin as an example, the regular price for Lanvin’s clothes ranges from $1000 and $3000, however, H&M×Lanvin line only ranges from $30 to $200, way more cheap, but the same designer!” Now GAP also learn from H&M so that GAP has new products line-GAP & Valentino. Both H&M and GAP use co-branding marketing strategy.
Yang Yang told me why people like wear the same clothes, it’s boring! Some people like to follow their idols’ fashion styles. Yang Yang also mentioned that “not only students are buying H&M, fashion stars also like it.” Fashion stars’ clothes are also from H&M, how can people buy them not? It could be customers’ psychological effects or customer’s behavior that follows the famous celebrities. People would be proud if they wear the same clothes with celebrities. H&M correctly catch customer’s emotions and behaviors and be successful in each promotion of their co-branding products.