WEDNESDAY –
Today we had our formative assessment; we presented our findings
so far to the tutors. After speaking to the tutors for a while explaining our
ideas and thoughts for rebranding Boy London as a group we thought it would be
better to choose a different brand because the tutors highlighted possible
issues we may face because we have found little quantitative research about Boy
London failing, our research so far was based more on qualitative research that
we gathered from our Shoreditch research.
We thought about what other brands we could focus on, therefore using
resources online like LSN Global and articles, we noticed that brand Bench has
recently been failing highlighted by the following:
1. Benchs’ owner
Americana had a fall in profits of £24m
2. Last year
their revenue fell from £147m to £125.2m
3. Staff levels
dropped from 560 to 405 year on year
4. Bench closed
all major stores only focusing on outlet stores
5. Couldn’t
keep up with competitors
- Source - http://www.insidermedia.com/insider/north-west/88079-/
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