A Study of how Startup Soriano Van Gaever can Survive within the Danish Fashion Industry

Monique Laraignou & Sophia Alexandra Colov

Student thesis: Master thesis

Abstract

Branding and startups are both explored areas, but the intersection between them has not been well-covered in today’s literature. Thus, this thesis aims to narrow this gap in research and explore how implementing branding initiatives already in the early stages of a startup can affect survival. Based on the fact that branding is crucial in the fashion industry, the purpose of this study is, therefore, to provide a more profound knowledge of branding in a Danish fashion startup. Soriano Van Gaever (SVG) has operated on the Danish market for almost a year and is chosen as the case company in this thesis. SVG has experienced a lack of awareness of its brand why the startup is relevant to investigate within this field. In this thesis, we take an abductive approach but primarily use the inductive approach in the process of our research and the conduction of this study. The primary data is gathered through seven semi-structured interviews with SVG, business angels, a brand manager, a graphic designer, and an online questionnaire targeted towards Danish consumers. A mixed-methods research approach is applied to enhance the depth and richness of this research study. The analysis is divided into three parts: a Market-, an Internal-, and a Branding Analysis. In the Market Analysis, the PESTEL framework, STP, and the SWOT model are applied to identify and gain a comprehensive understanding of SVG and its environment. The Internal Analysis aims to analyze SVG’s business model and the approach towards a strategy. Finally, the Branding Analysis analyzes how SVG can create brand equity through effective branding initiatives. Based on the analyses, it is found that SVG needs a planning mode as it is crucial for the startup to gain loyal customers through a beneficial business model and branding initiatives. Thus, the recommendations presented argue that SVG should 1) create customer relationships through online communities and loyalty programs, 2) use endorses to inspire and meet the target segments ‘Cool and Confident Woman’ and ‘Lowkey Trendsetter’ at eye level, 3) take eco-friendly initiatives to engender more respect and interest in the brand, and at last 4) engage with partners/investors and strategic alliances in order to gain missing capabilities, financial resources, and enable SVG to follow a planning mode, which is crucial for the success of the above initiatives.

EducationsMSc in Management of Innovation and Business Development, (Graduate Programme) Final ThesisMSc in Brand and Communications Management, (Graduate Programme) Final Thesis
LanguageEnglish
Publication date2020
Number of pages148
SupervisorsDaniel Hjorth