“H&M X Versace” when high ends meet a mass-market retailer
The House of Versace is a brand that, since Donatella’s late brother, Gianni, opened its doors in Milan’s Via della Spiga in 1978, has been synonymous with brightly coloured luxury.However, since the competition in the high-end fashion market become more intense.the Versace’s brand images did not prove quite so buoyant. Shiny models in multicoloured Lycra didn’t relate to the general style consciousness, which had headed to a darker, grungier place. Versace’s profits ground to a halt, and the brand lost its cool.
Now, since individuality and attitude are fashion’s driving force. Versace come up with a brilliant idea of working with another member of the platinum-blond club: Lady Gaga. “Star effect” has worked out very well. “With consummate media-savvy prowess, Donatella put her clothes on, arguably, the most photographed woman of the decade. “When Lady Gaga started to wear our clothes, she received tons of questions on her website asking where she got them.
Of course, not everyone can have archived Versace, but people are ready and waiting for something they can have.In short, the time is perfect for a project that will bring Versace’s aesthetic to the masses: a design collaboration with H&M.
with the help of lady gaga’s personal image, versace successfully create a “demand” for its collections. Based on the fact that not many people are able to afford such a high end brand, its collaboration with H&M help Versace expand its market segmentation. The affordable price of this collection did not pull down the brand name of versace from high end to mass-market but create an idea of affordable fashion. moreover it also crate a wants for young people of the “real” versace in the future, which generate a bunch of potential buyers for its future.
