SWOT Band of Outsiders Analysis
Band of Outsiders Inc. is a private company founded by Sternberg in 2004 and incorporated under the state of California businesses in the same year. The company is classified in the Wholesale Apparel-Men's. The company starts with revenue of $30,000 and currently stands at revenue of $12 million, with 12 employees. The company presently designs 5 bands of outsiders' micro-lines and has won the CFDA award (Council of Fashion Designers of America Menswear Award -- fashion's) equivalent of an Oscar.
Strengths: the Band of outsiders has easily blended with the hip hop culture in Los Angeles and is majorly associated with the hip Los Angeles based label. It rouses a fresher generation of menswear by involving tradition with an establishment viewpoint. The company interprets menswear as a means into realization of the past to re-interpret masterpieces in a way that feels predominantly different and applicable presently. It seals a commonsensical gap, offering a neo- waifish, unabashedly idealistic stance on American sportswear. These characteristics are giving brands of Band of Outsiders an upper hand over other brands. The company major strategy is designer content that aims to transform and improve typical traditional apparel, making the apparel further close-fitting and luxe, and styling them such that the noble and rich can wear them
Opportunities: band of Outsiders has launched new innovative brands that are doing well in the market this includes: Band of Outsiders 'girl', the high-end Los Angeles-based label with a big cult succeeding, debuted its new more-affordable line, the band of outsiders 'boy', a line of polo shirts called This is Not a Polo Shirt- a menswear and is also offering custom made suits to loyal customers, that has an a unique classic mix. In the last few years the lines have got their way into the market and still present a probability of invading the entire market. This not only offers a chance for Band of Outsiders to display and sell their remarkable fitting across the world it also implies a potential turn in their business and marketing strategies. The company has additionally opened an online store aimed at reaching greater market and redefining the fitting. Strategies have been put in place to expand the boys wear and also to venture deeply into the women's collection.
Weaknesses and Threats: It's not quite clear for retailers whether the clothes belong in the designer or contemporary categories because of the different price points within the labels, this limitation however does benefit the company and more specifically it's the company's way of spreading the risk. The Band of Outsiders is located in Los Angeles which limits it to the market share it may hold if it was located in London. It's quite difficult to sustain its high profile (bearing in mind that the company prides in mainstream clothing and doesn't highly advertise) knowing marketing and price-point certainties and increasing distribution without disheartenment the apparent exceptionality.
The company lacks finances to expand its operations and the dream of building the $12 million business into a more than $40 billion business is shaky. Investors are in most cases reluctant to finance fashion businesses due to the unpredictability of the business. It's also important to note that the women's wear that the company wants to majorly venture in is characterized by stiff competition and therefore poses high risks for the company. The founder and executive also lack specialized professionalism in fashion and designer that becomes so much risky for the company. Competitions with other brands like Calvin Klein's Italo Zucchelli are stiff.
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