| Changing The Fashion Game Even if you read all the fashion magazines, chances are, you haven’t heard about a seven-year-old fashion label named Theory. Theory is not some obscure company started in a basement. It has 9 stores worldwide and generates sales of more than 200 million dollars!
Theory does no advertising. They stay out of fashion magazines. They don’t conduct any runway shows. They don’t hire any famous fashion designers. Yet they generate loads of cash! Sales are expected to increase to 300 million dollars by the end of this year. What does Theory do to generate these many sales?
- Andrew Rosen, the co-founder says that women get more excited when they discover something on their own and thus end up spending more.
- Theory chooses a retail outlet with care. All of its 9 stores are situated in very good locations.
- Theory doesn’t try to follow trends. They don’t try to dictate style. Rather they create clothes that they believe will be wearable for years to come. They make certain pairs of pants season after season consistently. By looking out for evergreen trends, they keep their costs at a minimum too.
- They hire great sales personnel. Their sales reps learn everything about their best customers. They remember their names, their habits and even what they do in their free time. And armed with this knowledge, the sales reps can better help the customers to make choices.
Action Summary:
- Invest in a good location. A good location has the power of attracting people into the stores without any advertisement.
- Hire great sales people. A good sales person is better than any other tactic such as price discounts, eye catching demonstration… Good location will get people to visit your store and great sales people will persuade this people to buy.
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What is
Marketing Hotsheet?
- Marketing Hotsheet is a newsletter published twice a month, every month. Each issue of marketing hotsheet reveals six (6) tried and tested marketing tactics.
- These tactics have been used by other business owners successfully. And you too can duplicate their success by copying their techniques to grow your own business.
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