External Environment Analysis Of Gucci Company - 1751 Words

External Environment Analysis About Gucci Gucci happens to be one of the most sought after brands in the industry. The latter emanates from the fact that Gucci is classified as one of the most successful brands in the fashion industry, owing to the fact that its products are of top-notch quality (Bhasin). Being a household name for quite some time now, Gucci prides itself in having a huge customer base on the global scene especially after changing designers, a fact that contributes greatly to its increase in sales which translate to subsequent profits (Cartner-Morley; Bowles). While it can be arguably said that Gucci is a force to reckon with in the fashion scene, a lot of factors affect the operations of this company, both internally†¦show more content†¦In the same magazine, Gucci was listed as a very valuable fashion brand with estimate revenue of 12.7 Billion Dollars (Forbes). The two companies show a very spirited competition which is only demarcated by an estimated revenue difference of 5 billion dollars. This , then, means that with such high competition in the industry, Gucci can never, at any one time, sit pretty thinking that it runs the fashion scene – far from it – other worthy brands are selling out there – they have the ability to supersede Gucci in the short and long run. Potential of new entrants into the industry It indeed goes without saying that there already exist plenty of fashion companies and houses in the prevailing fashion industry (Pratap). What this says is that the industry allows for free and unrestrained entry into the market. Conversely, the potential of the likelihood of these new entrants to be worthy adversaries and competitors in the industry (Pratap). New entrants, as Pratap postulates, have mountains to move before they can be afforded a front row seat in the industry. Pratap, however, appreciates that the creativity of new entrants in the market could see these new entrants offer worthy competition to the already existing fashion companies. In addition, Pratap advances that resources are major constraints to these new entrants as they often have to make plenty of investments. This is in the wake of plenty of bills to pay which include theShow MoreRelatedGucci s Brand And Corporate Social Responsibility Essay1635 Words   |  7 PagesGucci is a multinational fashion brand based in Italy. The brand specialises in leather goods, clothes, and fashion accessories for both and women aged between 24 and 30 years. Gucci was founded in 1921 in Florence, Italy by Guccio Gucci (Gucci Official Site United States, 2016). The main purpose of this paper is to provide an in depth brand analysis of Gucci. 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