SERPENTI CALCEAMENTIS
CONTENT Team What Brand extension About the Brand History of the Brand BCGM PLC Existing Products Keyword of the Brand Reason for Extension Brand Extension Narrative Target Audience Marketing Strategy Competitior Analysis PR Strategy Media Plan Social Media Marketing Event Planning Invitation Card Look Book Pictures Press Release
Team Unnati Rananaware Khushi Patel
Extension Original Product Category Extension product category Luxury High-End products Luxury Footwear
About the Brand Bulgari ( BVLGARI) is an Italian jewellery and luxury goods brand that produces and markets several product lines including jewellery, watches, fragrances, accessories, leather goods and hotels. Sotirio Bulgari, a talented Greek silversmith, founded this company in Rome in 1884. The brand gained its reputation for Italian excellence with exquisite craftsmanship and magnificent jewellery creations. this brand is absolutely a jewellery brand that holds its value and is known in the world and we can also spot the brand around the neck and wrist of many celebrities for high style and higher value. the value of the brand is there for centuries. The Bulgari generations have defined a distinctive style made of vibrant colour combinations, elegantly proportioned volumes, and distinctive motifs that pay homage to the company's Roman roots. Bulgari is absolutely a jewellery brand that holds its value well. The Italian jeweller is one of the most well known in the world and you'll spot the brand gracing the necks and wrists of many a celebrity. The brand is known for high style and even higher value — and it's remained thus for more than a century. Bulgari did set an example for innovation in the jewellery segment and launched new trends that stood out as icons of contemporary design. Something significant happened in the 1990s: Bulgari released its first fragrance, Eau Parfumée au The Vert, in 1993, and the first accessories collection, consisting of silk scarves, eyewear, and leather items, in 1996. The only attempt at a brand extension that the Maison made until the 1980s was entering the Horlogerie world in 1977, which was a step that in terms of perception among the non-experts was probably not a big deal: many people tend to consider jewellery and watches as parts of the same world. In 2011, the LVMH group took over Bulgari company.
USP USP: Bold, innovative, designs combined with large and weighty gold links Tagline: Bulgari, the magnificent Italian Jeweler since 1884 STP Segment: Niche clientele who are specifically looking for unique design and craftsmanship Target Group: Women clientele fond of high quality and high design. Positioning: Distinctive, Bold, Contemporary style, classy
Brand History The history of the BVLGARI brand started in the ’90s when the founder Sotirio Bulgari fled home to the Epirus region in Italy. He started his first shop in 1905 under the name of “Old Curiosity Shop”. The name was given to the shop so that it will attract rich British tourists. First, he focused on the production of silverware products but due to his fame, he pushed himself to include all kinds of jewels in his product range. Soon Sotiris became instantly famous among the local and foreign American and British wealthy customers. Later after 50 years, his sons joined their father's family business, the first one Constantino was interested in studying and collecting silverware, began to search for gems, antiquities, icons and more. The second son Giorgio was more of a creative genius and interested himself in the art of curving gems, designing and manufacturing. In the ‘50 and ‘60 Bulgari became the synonym of luxury and class which attracted movie stars, rich tourists and Royal families. Then eventually they started more and more production in different areas. The designs in 1920 reflected the designs of traditional French schools. From the 1940s, the genuine Bvlgari style started to emerge, embracing the sunny shades of yellow gold and the sinuous coils of the Serpenti creations. By the mid-1950s, the brand introduced a chromatic combination of precious stones and coloured stones, the cabochon became a hallmark of the brand to glorify the vivid colour of gems In the 1970s the brand expanded in Europe and the United States. The third generation Bulgari brothers infused creativity ranging from the far east to Pop Art, catering to the taste of modern and dynamic women
Brand Timeline 1940's: Necklaces, Tiaras, Brooches 1950's - 60's: Colour Revolution 1960's: Serpenti collection 1970's: Eclectic creativity and Bvlgari goes international 1973: Monete collection 1975: Bvlgari Bvlgari collection 1977: First Timepiece 1980's: Tubogas collection 1982: Parentesi collection 1980 -1990's: Opulence & colour 1992: First Perfume 1997: Eyewear launched End of 19th century: Leather bag launched 2004: Expanded into hotels and resorts 2011: LVMH announced acquiring Bvlgari S.P.A
Mission Vision Values Mission BVLGARI Mission Statement For Bvlgari, being a sustainable company means creating a world in which everyone can thrive through social, environmental and economic progress Vision BVLGARI Vision Statement Social commitment is a key part of Bvlgari identity, the company respects equality and diversity embracing the highest standards of ethical behaviour Values Ethics Respect Equality Diversity
Brand Icons: Fiore Serpenti Bvlgari Bvlgari Parentesi Monete Tubogas
Value Propositon Bvlgary is a very ethical brand and strict values promise to deliver: Integrity because of its wholesome nature and the ability of the brand to provide proper services to the customers. Innovativeness in different designs and forms of the products which they serve. Open-mindedness toward the society Contribution to the culture, identity and future of the company Guarantees of Prestige: craftsmanship, dedication, and a painstaking attention Uniqueness High-quality Gem Stones Sense of Volume, brightness and contrast The beauty within the Bvlgari's stone High Value and High value with Unique Designs It's exclusive because it's been artfully hand-crafted by skilled jewellers using only the finest materials. Imagine the level of precision needed for an artist to paint enamel onto gold, for example. Its price tag reflects not only the effort put forth but as well as the exclusivity that comes with limited supply. Let's take their Serpenti collection for instance. The snake's scales are meticulously hinged together, piece by piece. This is done so that the jewellery, be it a necklace, a bracelet or a ring, coils around the finger as realistically as a serpent would. The Serpenti collection has been around for 80 years and since its inception, it has been reinvented time and time.
BCGM(Boston Consulting Group Matrix) The market size of the Jewellery sector is likely to expand by $103.06 billion between 2019 to 2023. Bvlgari is a jewellery brand, and the market growth rate in the jewellery sector is increasing. Bvlgari is owned by LVMH Group which operates in multiple businesses such as wines, perfumes, and of course watches, jewellery etc. In 2019, Bvlgari reported a net profit increase of 133 million euros. Bvlgari is a cult brand and is a prominent brand that has a long history and is known worldwide. It contributes about 50 Billion Dollars in annual revenue. So the relative market share of the brand is also high.
PLC From the past research till 30 June 2021, the company reports a revenue jump of 8% in six months. The brand is handled by the LVMH group, which ensures that the sales of Bvlgari never go down in the market. In spite, of the competition, they have rising sales and profits. They are still in the growing stage and the rate of increase in sales turnover is very rapid. Profits also increase at an accelerated rate.
Brand Identity Prism SWOT
Logo The first BVLGARI brand logo appeared in 1920 and consisted of the initials of his first name followed by his last name, characterize in the lapidary font. In 1928, the logo went under some noticeable changes. The initials were capitalized and the font acquired some sort of grace and was giving out an impression of movement. In 1934, to celebrate his origins, he changed the logo keeping the original “V” which appeared in his family name (Sotirios Voulgaris). The typeface in the logo is serif one, which is so small and elegant that makes the logo and the font cleaner and perfectly eligible. The wordmark is given in black on a white background. 1921 1928 1934 Recent
Brand Ambassador Priyanka Chopra Jonas Due to her strong presence and image in society, the brand chose Priyanka Chopra Jonas as the new brand ambassador of the brand as she will help to amplify the brand around the world through women empowerment as Bvlgari has most of the women clientele, she is the most suitable and diverse in nature to handle such topics which will also give some Inclusion in the brand because of her strong personality.
Partnership Bvlgari and Save the children Since beginning its unique partnership in 2009 with Save the Children, Bvlgari has raised over $100 million globally through sales of an iconic Save the Children jewellery collection. More than half a million people have purchased the signature pieces, including a ring, a bracelet and a pendant. Funds raised through the partnership have been invested in over 120 projects, reaching more than 2 million at-risk children and youth through education, emergency response, poverty reduction and youth empowerment programs. In the United States, Bvlgari is a generous supporter of Save the Children’s education programs and, most notably, Arte di Bvlgari. Save the Children’s Arte di Bvlgari program began in 2019 by providing an arts curriculum to children who do not have access to such enrichment opportunities as a way to help them develop self-confidence, self-efficacy, and self-awareness. Bvlgari is proud to donate 10% of sales from the customer's purchase on May 8, 2021, to the Save the Children’s Arte di Bvlgari program in the U.S. and emergency response efforts for children and families impacted by the covid - 19 pandemic in Canada.
Bvlgari Towards Environment Bvlgari takes concrete initiatives to protect the environment, fight climate change and preserve natural resources. The Group seeks to actively drive continuous improvement of environmental conditions to benefit its customers, employees and the broader community. The Environmental Policy states Bvlgari’s commitment to respect and preserve the environment, as an integral part of its values and culture and as a strategic element for long-term success. In addition, Bvlgari's values and approach to environmental sustainability are reflected in a Programme of Commitments, within the framework of 9 priority areas identified by the LIFE Programme \"LVMH Initiatives for the Environment.\" LIFE (LVMH Initiatives For the Environment) is a project launched in 2012 with a clear objective: to elevate the environment within the agenda of LVMH Maisons and to incorporate environmental performance as a natural component of product excellence and brand desirability. LIFE defined 9 key environmental issues at the Group level, directly related to the challenges of the luxury industry.
Existing Products of The Brand For the bold refined style, Bvlgari creations are appreciated by international Clientele because they pay the most attention to the quality and innovative designs making a perfect example of elegance and Grace. Their designs are mostly inspired by art and architecture in an evocative and extraordinarily style, making their client's personality more enhanced, which adds up to their fundamental characteristic High Jewellery The distinctive features of Bvlgari jewels are a sense of passion for linear and symmetrical forms and attention to detail, resulting in a continuous search to blend tradition and innovation and culture in a skill full manner. It enhances femininity to its best when worn with different collections, styles and ways of living. For modern women, this famous Parentesi collection gives an expression of her personality. Watches This product is for both men and women featuring contemporary and innovative styles, satisfying the strictest criteria of Swiss watchmaking. Bvlgari has become one of the main manufacturers at the world level, holding the capacity of producing watch movements. Perfumes and Cosmetics Bvlgari possesses a classic range of fragrances with a complimentary bath line, providing a new range of emotions to become a new classic. The Eaux perfumes range matches the delicate lightness of the eau de cologne with the beneficial relaxing properties of green and white teas. Accessories Exclusive Fabrics and craftsmanship are seen in the wide range of products such as ties, scarfs, stoles which offer a variety of colours and patterns, highly innovative elegance in the lines and techniques can be sophisticatedly expressed by its leather and precious fabric bags which have been created and endured with the brand personality.
Jewellery Bags and accessories Fragrances Leather goods Gifts Hotels
The Extension By Brand: BVLGARI Hotels and Resorts: In 2001, BVLGARI decided to venture with Luxury Groups to Create a Luxury BVLGARI hotel brand keeping in mind the strong reference to the culture. Expanded to Milan(2004), Bali(2006), London(2012),Shanghai(2017), Beijing(2017) ,Dubai(2017), Moscow(2019).
Keywords For the Brand Luxury Style Gems Leather Pastel Diamonds Classic Serpenti icon
Stores
Reason For Brand Extension A brand extension which is also called a category extension offers a new product and starts selling it in a product category in which the brand has never competed. If the product category is new for the brand, then it is considered a brand extension, in other words, a brand extension is when a company uses one of its established brand names on a new product or new product category. It's sometimes known as brand stretching. Many companies use brand extensions because it allows them to leverage their parent brand’s brand awareness and authority to reach new demographics and open up new sales channels.
Brand Extension Narrative According to our research and study for the brand, we have known that the brand has had a strong image and identity in the market for almost 130 years. The brand itself has diversified into different lines from leather goods to hotels and resorts. So we decided to further extend this brand into a new segment of footwear. The collection will be launched under the name BVLGARI SERPENTI CALCEAMENTIS. Bulgari’s most famous heritage design is inspired by a serpent, an animal motif that is significant in ancient Roman culture, representing fertility, rebirth, and protection against evil spirits. This is where Bulgari’s iconic Serpenti design comes which is the definitive power piece. The symbolic snake exudes a sense of seduction and boldness, and women have harnessed that spirit for decades. Seeing the product line in leather such as belts, and bags so we decided to introduce a different line in sustainable leather material which is footwear giving a touch of the Bvlgari essence by using exclusive gems on it which will also be complimenting the jewellery of the brand. As the brand will be launching in India so, the main goal is to give an Indian-ness to the product which will attract more women clientele. Different types of customers are interested in comfort and relaxation with cultural and artistic experiences. These features are appealing to the customers who want the advantage of a combination of high-quality products and services with a well- established luxury brand. Bvlgari Product Strategy The Bvlgari product strategy can be explained as follows: By carefully and cautiously the brand has expanded into a new category which is footwear. The Footwear line is a great mix catering to people with different preferences. It will broadly have High jewellery gems and famous serpenti icon which will give a contemporary as well as modern look.
Product Differentiation Use of Sustainable leather. Bvlgari is a Luxury brand that has always committed to sustainability in every aspect of its business and is very proud to have been forged on this path. Element of famous heritage motif Serpenti as a symbol of protection and powerful women. Use of Bvlgari stones USP Bold , innovative designs combined in a footwear with an essence of Bvlgari Jewellery in it. Competitive Advantage Combination of high-quality products and services with the well- established luxury brand image This feature appeals to the luxury people since they provide the feeling of exclusivity and indulgence and respond to the customer's needs Its unique designs The customer receives more than a product they experience the lifestyle.
Sustainable Development Bvlgary being a Luxury brand has always committed to sustainability in every aspect of its business and is very proud to have been forged on this path. Sustainable footwear market (CAGR) : 5.8% (2020 to 2027 ) Identifying the Market Gap in Footwear Industry Sustainable footwear only makes up a small portion of the current market, its appeal is growing with each passing year. people are demanding sustainable footwear, due to which big brands are concentrating in making sustainable footwear using high end technology. This change will make positive impact on our planet. Hence, going sustainable has became a necessity to protect our environment in every possible way, thus taking small steps today will lead to a better future.
Market Positioning, Segmentation The brand is positioned in the high quality and high price quadrant of the jewellery market along with luxury accessories. The segmentation of the customers is primarily based on the customer's interest, so here different interests of customers in the footwear segment can be comfort, relaxation, cultural or artistic experience and a rich lifestyle Target Audience Demographic factors: 25-44 Elite Groups, Females, married women Geographics factors: India: Urban cities, Tier 1 Economic factors: Established Business Tycoons, Royal Families, Actresses High net worth individuals Psychographic factors: people who like to promote and follow sustainability the loyal customers of Bvlgari people who love to maintain their lifestyle socially the people who can afford the premium cost for the product
TAM( Total Addreseable Market) Indian population: 138Cr Women population of India: 604700000 i.e. 48.04% Women population of India for age 25-44: 252764600 i.e. 41.8% of 604700000 Tier 1 cities population: 107903615 i.e. 7.81% of India's total population Women population in Tier 1: 47282113 i.e. 7.81% of the total women population Women population in Tier 1, between (25-44): 19763923 i.e. 3.26% of the total women population Rich population: 4195000 i.e. 0.69% of the women population SAM( Serviceable Available Market) For Premium People/high-income people who live in tier 1 cities, online delivery will be available for them for sure and offline stores will also be there in some cities. Premium People/high-income people who live in tier 2 where online delivery is available. TM(Target market) The high-income people who are interested in Bvlgari footwear of premium designs of the Serpenti collection. the people who support the initiative taken by Bvlgari for sustainable footwear. the people who are regular customers/existing customers of Bvlgari.
Purpose of the extension Why did we choose the Jewellery brand for an extension? We chose a jewellery brand for the extension as their target group is mainly high-class women clientele who are fond of High quality and luxury design jewellery. Mainly target group is women clientele Expanding to footwear collection using those high-quality jewels and designs will attract more customers Why Footwear as an extension? Bvlgari is already in the jewellery segment and other leather accessories The idea is to combine leather( vegan) their famous icon and gems in footwear. After all, Footwear is the accessory that completes a look.
Pricing Strategy Bvlgari is a high-end luxury brand with its products having a premium pricing strategy in its marketing mix. To demarcate the uniqueness of items, Bvlgari charges itself a notch higher than other premium brands on the market. When compared to the competition, the fragrance costs are lower, but the jewellery and watches are more expensive. Bvlgari Footwears average range is Rs 200000. By launching limited edition Footwears and pricing them at a premium, in line with the customary practices of luxury Footwear makers to offer limited edition series to heighten the popularity and generate a buzz around the launch of a product.
Marketing Strategy We decided to go with a line branding strategy seeing the past of the brand because every product which was launched was under the name of Bvlgari itself. The entire line is branded under one name. The desire to purchase one of the Bulgari creations leads the customer to interact with the product in a way that makes it special and unique. Each purchase unlocks the exclusive digital experience of the buyer which adds invaluable value to the product, making the customer experience a new aspect of the Bulgari world. We will try to pay more focus on networking and direct sales which will help the brand to expand the scope of its b2c service. Communication Strategy Interaction makes experiences more interesting. Though Bvlgari has high-quality craftsmanship and products, we are trying to make products more interesting through our communication strategies, interactive moments and so on. To reach the younger target audience, influencers on Instagram, we'll make more videos, reels, posts, polls, and highlights to show the value of craftsmanship behind the jewellery. Today, marketing initiates the design process and shares information with our designers. We're integrated, so we can keep an eye on current trends and draw inspiration from them. We're attempting to make the firm more appealing to the younger workforce as a brand, and we've employed a lot of Millennials to help us better understand their expectations as customers and employees.
Digital Marketing and Social Media Social Media and digital marketing are prominent trends in the contemporary world due to their influence on various consumer groups including the luxury ones. The company do not use this opportunity actively thus the digital marketing is inconspicuous, it would be beneficial for the brand to use targeted digital marketing to advertise the new extension which will enable the company to attract new customers thus increasing the market share. The social media strategy of the brand is more prominent due to the usage of the Instagram account and other platforms. The account will have beautiful attractive pictures of the Bvlgari footwear collection. It will be useful if the brand does some kind of collaboration and partnership with social media influencers to optimize their current and future audiences. Nowadays interaction with the followers on social media and even influencers plays an important role in increasing awareness regarding the brand and create more opportunities.
Go to Market Bvlgari has entered the Indian market before. There are only two to three shops in New Delhi, India. So we decided to launch our extension in the Delhi store as well as maintain the network and social media the distribution of the product will be also through online marketing. Customer Acquisition strategy The store in which the footwear is launched will also consist of different Bvlgari products, so when a customer will come to buy an accessory or a piece of jewellery, they will be attracted to the collection or will at least give a look or try. Jewellery, watches, accessories, perfumes and hotels are perceived as one comprehensive whole, the strategy driving, each business unit is connected giving a sense of complement creating a holistic brand experience, which will engage consumers at different touchpoints and in thier lives and experiences Services strategy Bvlgari's website accepts online orders 24 hours a day, seven days a week, making purchasing more convenient for customers. They have a specialised customer service team that responds to requests and complaints promptly and courteously, ensuring that the consumer has an unforgettable experience.
CAGR Footwear luxury growth in India 2022 to 2025 CAGR: 7.36% (2022 to 2025) What factors drive the demand of the Footwear Market? number of the younger working population, increasing purchasing power of consumers, growth of fashion-conscious population, rising retail culture. Which is the fastest-growing segment in the Footwear Market? The leather segment would witness the fastest growth, registering a CAGR of 6.3% during the forecast period.
Competitors After determining our target segments we selected two competitors of the parent brand based on the price range, product range, and the target market in which they all compete. 1)Jimmy Choo 2)GUCCI 1)Jimmy Choo: The company was founded in London by couture shoe designer Jimmy Choo and Sandra Choi, niece of Mr Choo 1996 came on board as Creative Director. It is a luxury British Brand Specializing in shoes, handbags, accessories and fragrances. With immediate success, it became a celebrity favourite brand rapidly acquired Sophisticated clientele which helped Fuel its international expansion in early 2010 the brand had a store network of about 150+ stores in 30+ countries and was included in most prestigious speciality stores worldwide, except for mainland China. In 1996 Motcomb street London the first Jimmy Choo store was opened. Their Global Flagship Store is in London in the popular Mayfair at 27 New Bond Street and it's the biggest in the world. 2)GUCCI Gucci was founded in 1921 by Guccio Gucci in Florence, Tuscany. Under the direction of Aldo Gucci (son of Guccio), Gucci became a worldwide- known brand, an icon of the Italian Dolce Vita. Its product lines include handbags, ready-to-wear, footwear, and accessories, makeup, fragrances, and home decoration. Gucci is known for its material choice, rare elements of design and quality of production reflect into high-quality products and beautiful accessories, of high desirability. . Expansion of stores is 487. Gucci is part of the Kering Group. Under the new vision of creative director Alessandro Michele, the House has redefined luxury for the 21st century, further reinforcing its position as one of the world’s most desirable fashion houses. Eclectic, contemporary, romantic—Gucci products represent the pinnacle of Italian craftsmanship and are unsurpassed for their quality and attention to detail.
Competitor Analysis
Media Plan This is the media plan which will be followed from one month before the event launch. Week 1 Week 2 Week 3 Week 4 Release 5 posts Ask people Through social We will finally media release the on social media some questions campaigns and guest list and collaborations, the place about the brand through polls we will get to where the know the view event will be extension done and QnA of the launched, audiences venue, time by the brand sessions on regarding through the sustainable PR kits and and the social media footwear, an press release initiative taken distribution \"launching regarding the by Bvlgari and amongst the post positive media people. soon\" quote to launch of the reviews on story posts. increase some extension and excitement and then through buzz amongst the answers, the followers. they will get a glimpse of the brand extension.
Social Media Plan Instagram: @bulgari, #BvlgariFootwear #SerpentiCollection
Social Media Plan new range of Serpenti calceamentis Facebook: Bulgari
Event Location THE LEELA PALACE NEW DELHI
Guest List Priyanka Chopra Jonas Shilpa Shetty Karina Kapoor Alia Bhatt Sonam Kapoor Kangana Ranaut Gauri Khan Sara Ali Khan Maheep Kapoor Karishma Kapoor Twinkle Khanna Ranbeer singh Farahan Akhtar Virat Kohli Anushka Sharma Deepika Padukon Ananya Pandey Siddhant Chaturvedi Janvhi Kapoor
Media List 1. Vogue India 2. Elle 3. Harper’s Bazaar 4. Femina 5. Woman's Era 6. GQ 7. Cosmopolitan 8. Verve 9. Bombay Times 10. Mumbai Mirror 11. India Today 12. Outlook 13. Grazia India 14. Glamour 15. InStyle
Invitation Look
Products of the Lookbook SERPENTI CALCEAMENTIS
Launches SERPENTI CALCEAMENTIS BVLGARI ,THE HIGH-END JEWELLERY BRAND LAUNCHES NEW RANGE OF FOOTWEAR COLLECTION Launching a new range of exciting Bvlgari footwear in the Serpenti collection this Saturday is all set to sparkle your eyes. Delhi, 30th April, Bvlgari the world's third-largest jewellery brand is coming up with a new range of exciting footwear range under the name of Bvlgari Calceamentis. The shoe range will be inspired by its famous serpenti collection of Bvlgari. The brand caters to a high-income audience that includes both men and women but the footwear range that the company is launching mainly focuses on women's clientele. For the first time brand introduces such a classy range of footwear with the essence of Bvlgari gems on it. All guests will have the chance to get an exclusive look at the mother brand's most extraordinary extension which is the footwear collection throughout the whole evening. After that, the brand will also celebrate its rich heritage of the brand. The brand is popularly known for its jewellery collection and other luxury accessories, from perfumes, leather goods, and hotels Bvlgari has reached the excellence. Commenting on this brand extension Jean-Christophe Babin, CEO of Bvlgari said, \"Bvlgari is a jewellery house first and only a few other brands have the advantage of coming from the jewellery side, we will make beautiful accessories from jewellery, it is in our DNA. \" He also quoted,\" India holds a special place in our hearts at Bvlgari, since it doesn’t only offer us a continuous source of inspiration, but this rich, incredible land provides us with some of the most precious gems of nature to craft our creations, from jewellery to Footwear\"
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