Since its origin, the brand has been very famous and its model is impossible to circumvent, known under the name of code ‘1212', and remains everlasting. Although it has an international reputation, everyone associates it with a sports shirt whereas it is actually about a shirt, with the color white, but now available in several colors.
Its style is of ‘piqué honeycomb' which was turned down in the name of a sports shirt. Lacoste is a famous brand thanks to its range of clothing. The logo ‘crocodile' is of public notoriety. Today, the brand proposes a broad range of clothing known as ‘smart sportswear'.
This clothing corresponds to the customers concerned. They are people who are more or less young, attending country clubs and club houses. The brand has a collection of sport shirts, jackets, as well as pants, i.e. all the panoply of the young dynamic framework or quinquagénaire. In order to satisfy these two types of customers, Lacoste proposes adequate colors and different models, more or less sober.
The products are intended for men, women and children. With the passing of years, Lacoste has diversified. It proposes today, in addition to clothing, products made up of shoes, belts, watches, glasses, perfumes, household linen, leather working, and articles of sports, like tennis and golf and even nautical clothing. The main target of Lacoste are the middle-class customers. The goal of this price policy is first to rebuild the blazon of the brand.
The price of clothing is also in coherence with its quality, which remains a pledge of high standing. Lacoste is thus an old brand having a very strong notoriety. This was somewhat sullied by a brand image for hooligans. It is partly for this reason that the brand decided to keep a price policy rather high. The objective here, is to find a coherent image and not that which the general public has been familiar with in these last years.
Lacoste enjoys a very strong reputation as one which caters primarily to the ‘preppy' classes, a niche segment which the brand has been trying to retain. This need to conform to a distinct brand image is partly why Lacoste has designed a pricing policy which is within the reach of few consumers. The objective is to find an image consistent with the expectations of high-end consumers rather than the general public and to build upon it over the years.
The main target of Lacoste is a wealthy clientele, upper middle-class fans of premium sportswear clothing. The aim of this particular pricing policy is primarily to restore the prestige of the “crocodile” brand vis-à-vis the competition, which is particularly prevalent here. The price of the clothing is also consistent with its quality, which is a guarantee of high standard.
Since its inception, the brand's success has defied time and cemented its place in the fashion circles, and is still known by the codename "1212". Although the brand currently offers a range of sportswear in several colors, most people still associate Lacoste with the original white polo shirt bearing the small crocodile logo
Tags: Lacoste marketing mix, Lacoste growth strategy, pricing policy
[...] Indeed, for this segment, branded products such as Lacoste represent a way to mark their belonging in a group as well as asserting new values, and creating an individuality and personality of their own. By attiring themselves in a brand originally meant for the privileged classes, they are indirectly challenging the affluent class while affirming their hip hop pride. Subsequently, this has dented the pride of the wealthy classes as they do not want to be identified with a brand that has emerged as a symbol for the city youth. [...]
[...] Therefore, the brand's product policy must take into account these variables so that the brand can sustain its competitive edge. C Distribution Policy In France, Lacoste products are available for purchase The Lacoste shirt is distributed in France via 1300 outlets including 46 boutiques corners and 700 sportswear shops. Most sportswear stores, which are wrongly considered by a few as unrelated to the sports sector, stock Lacoste products. The excellent price/quality/image combination of the product is what sets Lacoste apart from its competitors. Lacoste is available in over a hundred countries via 717 boutiques and 1650 corners. [...]
[...] The Lacoste website goes live on 18th June 1998: On 16th March, Devanaly, the international licensee for Lacoste, was acquired by the Maus family and Lacoste Subsequently, the Maus family, through Devanlay, became a minority shareholder in Lacoste (up to while the remaining 65% is held by the Lacoste family. 1999: October 1 witnessed the signing of a license agreement with Descamps, a part of the Zucchi-Bassetti Group for Lacoste household linens covering Europe, the Middle East and Africa. 2000: Worldwide license agreement signed on 21st December with Samsonite bags for Lacoste leather goods and luggage. [...]
[...] However, Lacoste is heavily involved in sports tournament sponsorships; for instance, the brand's partnership with major tennis events includes the Australian Open, the French Open and Tennis Masters events in Madrid and Shanghai. In addition, the brand sponsors internationally renowned sporting personalities including American tennis sensation Andy Roddick and golfer Lorena Ochoa. It should be noted that the brand only sponsors those athletes who figure among the top rungs in his/her sport. Lacoste also invests substantially in sponsorship contracts with young budding athletes who are considered future stars of their sport. [...]
[...] Lacoste draws inspiration from the movement of the 1960s for for men and the influence of British designer Mary Quant and French designer Andre Courreges for women. The style is a blend of vintage and contemporary trends with the graphic prints and stripes emblematic of the Lacoste legacy. The photo session is based on the quintessential style of the brand but the photographer has added a new dimension, dynamism with a touch of humor. The colorful, modern and dynamic clothing displayed by the models suspended in mid-air propels us into a world of sparkle and playfulness. [...]
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