Q1. Briefly describe what Chanel (Coco and the firm) stands for.
Chanel is an iconic high fashion company that was established by Gabriel Chanel in the year 1913. Gabrielle was nicknamed “Coco”, thus, it explains the emergence of the name of the company. Gabrielle was a person that had a taste for the woman’s fashion hence the firm adapted and made use of this talent. Gabrielle also set some values that the company had to adhere to. This led to the uprise of a unique and powerful woman fashion.
Q2. In 1980 what are some of the reasons the firm is struggling?
The firm was left struggling in the 1980s due to the various reasons. Firstly, Gabrielle passed on in the year 1971 leaving the future of the brand and its guidance up in the air. After her death, the company leadership was undetermined since Gabrielle had set standards that could not be met by other leaders. Leadership transition can either have a positive or negative effect on the company and, when not effectively conducted, can be detrimental to the company leading to its downfall. Secondly, the various women’s fashion produced by Chanel was very elegant but, at the same time, it was considered inconspicuous by others. Besides, the company was struggling with other couture houses to be called number one in the world. So, by 1980s the firm had been disintegrated and was invoking new management and growth area.
Q3. When looking for a new designer should Chanel be Coco or Anti-Coco? Explain your reasoning and give specific examples of how and why your stance is the best.
Chanel should remain Coco when looking for a new designer due to various reasons. Firstly, Coco Chanel used to make every piece of fashion a work of art, always unique and influential. Many women are acquainted with the name of the brand and are likely to have a desire to buy clothes which have no comparable counterparts in the fashion world. Such a position will lead to increased sales of the Coco brands hence raising the company’s revenue. Secondly, the Coco brands can be acceptable to both the rich and low-income due to the affordable and flexible prices at which they are sold. This is because the company provides gorgeous everyday clothing and jewelry for the women in both America and Europe. Therefore, these brands can sell their products anywhere, thus increasing the sales volume of the company. Thirdly, the designs have set a standard for women fashion due to their clean and classic lines from 1910 to 1960s and even today they are still being praised as one of the best designs of clothes. For example, the signature cardigan and suit, the quilted handbag with a chain-link strap are still in the wardrobes of many women. Due to this, the designs are acceptable to many women around the globe since they left the wearer’s hands-free.
Q4. What mandate should Chanel give Lagerfeld on his first day?
Lagerfeld, being a designer on his own, should be allowed to look at the quality and the shape of the designs originally produced by Gabrielle and also given the authority to take the leadership of Chanel to the next level after the death of the founder. After the death of Gabrielle, the leadership was left in uncertainty hence Lagerfeld should turn around the guidance of the company. Similarly, Lagerfeld should be allowed to modify the designs to suit the needs of the current marketing adding new ideas about fashion design. This will make the clothes and jewelry outstanding hence increasing the sales volume of the company. Besides, Lagerfeld should be allowed to go through the sales records to equip him with the needs of the current market and should also be allowed to know the rules and regulations of the company and familiarize himself with the new culture, as he is German.