‘Anti-Aging’ of Fashion Brands with Sustained Longevity in Korea : A Qualitative Research on Self-Diagnosis and Treatment of Brand Aging

Abstract

This study explores loyal customers’ aging issue with regards to fashion brands that have sustained longevity. When such customers’ brand commitment lasts many years, their average age increases whilst the acquisition of new customers decreases, which means the brand eventually becomes aged. In this study, the researcher considers how seriously fashion brands perceive the issue of loyal customers’ aging and how actively they confront this issue. The researcher conducted in-depth interviews with eight middle managers that work in marketing, design and merchandising departments at Korean fashion brands with sustained longevity. The researcher analyzed fashion brands by dividing their approach into product, price, communication, and distribution; and proposed desirable strategies for fashion brands with sustained longevity who want to attract Millennials by strategically developing targeted products and adjusting materials to lower product prices. As brands regard the young designs that result from collaborating with illustrators as loved by Millennials, such brands need to expand their retail channels to various online retailers familiar with Millennials and prepare communications that focus on increasing brand awareness. Such approach should consider that Millennials are unfamiliar with such brands, despite such brands currently holding a dominant market position.