Coca-Cola is “not doing its job properly” again.
As a “trendsetter” in cross-border co-branding, Coca-Cola has launched its own clothing brand in China. Its official Tmall flagship store has officially opened a few days ago, and has prepared a series of limited clothing for exclusive sale on Tmall.
As a world-renowned consumer brand, Coca-Cola’s ambitions go beyond carbonated drinks. In fact, as early as 2008, Coca-Cola created its own clothing brand “CocaCola Clothing”. In recent years, co-branded products with many fashion brands have frequently been popular in the market.
In 2017, Coca-Cola and New York fashion brand Kith launched joint clothing. Since then, the two have released three-party joint shoes with Converse; on the occasion of the tenth anniversary of UNIQLO’s sister brand GU, Coca-Cola collaborated with it to launch joint T-shirts, Socks and canvas bags;
In 2019, Coca-Cola and Anta jointly released a series of lightweight and breathable hydrogen running shoes, as well as sandals, slippers, T-shirts, shorts and other items. In the field of beauty and luggage, Coca-Cola also has partners. In 2017, it launched a series of cooperation models with the Italian fashion brand PINKO, including PINKO’s most classic swallow bag; it also cooperated with the popular Korean beauty brand Fushi In collaboration with the brand, they launched a joint lipstick and liquid foundation last year.
Behind the frequent cross-border marketing of this century-old store is its declining performance in consecutive years.
In recent years, consumers’ health awareness has been increasing year by year. Sugar-free and low-sugar have become new trends. The healthy lifestyle has made life a bit difficult for Coca-Cola. Coca-Cola’s revenue reached US$48 billion in 2012 and began to enter a continuous decline channel. Although after several years of hard work, its performance regained growth in 2019, the company’s performance was hit hard last year due to the impact of the global epidemic.
The company’s latest released data for the third quarter of 2020 showed that its revenue in the third quarter was US$8.65 billion, down 9% from the same period in 2019, but an improvement from the second quarter of 2020. In the second quarter, Coca-Cola Company’s revenue was US$7.15 billion, down 28% year-on-year; of which, net profit from April to June 2020 was US$1.8 billion, down 32% over the same period.
For Coca-Cola, the carbonated beverage business is undoubtedly the main business, accounting for about 70% of its performance. But if you are familiar with this company, you will know that its business strategy is to use its brand effect to attract consumers’ attention and thus cater to the general direction of market development. Industry opinion believes that as a well-known big IP, if it can maintain its popularity and increase user stickiness through such cross-border marketing, it can be regarded as a positive strategy.
Currently, it seems that the most popular marketing method in the market is joint crossover.
CBNData consumption big data display , the apparel and sports industries currently have the largest number of fashion IP co-branded products and are the most popular among consumers, ranking in the top two in terms of online co-branded model sales respectively. Among the co-branding of fashion IP and apparel brands, young consumers born in the 1990s and 1995s accounted for the highest proportion, reaching nearly 60%. Therefore, major brands often like to join forces, especially for traditional brands that pursue brand rejuvenation. Cross-border co-branding is one of the most effective shortcuts to accurately reach young audiences.
Extended reading:
Brand clothing flagship store officially launched on Tmall
On January 28, the Coca-Cola clothing flagship store officially opened on Tmall, launching multiple series of clothing and creating a variety of trendy items covering men’s and women’s clothing.
Iridium Nebula merchants observed from the Coca-Cola apparel flagship store that the store mainly sells sweatshirts, shirts, T-shirts, There are trousers, jackets and other categories of products, as well as 3 hats and 7 backpacks/bags and other accessories, priced between 149-799. In terms of product series, it brings two series: “Classic Series” and “Seasonal Trend”.
The “Classic Series” continues Coca-Cola’s most representative elements, such as Coca-Cola’s classic logo, vibrant ribbon patterns and cola With logo colors such as red, white and black, it focuses on durable and sustainable items. “Seasonal Trends” embraces the most popular trends of the season and launches products that are a fusion and collision of multiple popular elements.
In addition, Coca-Cola apparel flagship The store also brings two new products, limited-edition sweatshirts for the first time. The red and white sweatshirt adopts a unisex style, with the iconic large logo printed on the chest, which is visually rich and priced atIt is priced at 599 yuan and will be officially launched at 0:00 on February 15th.
New Year commemorative sweatshirt It is 599 yuan, with the iconic large logo printed on the back, and the sleeves on the left and right sides are designed with contrasting colors. It is fashionable and avant-garde. It will be officially launched at 0:00 on February 1.
It is understood that as a global One of the most well-known brands, Coca-Cola has collaborated with designers from all over the world many times in recent years. The joint series that have received enthusiastic response from the market have laid the foundation for the birth of the Coca-Cola apparel flagship store. This time it officially entered Tmall, industry insiders said that the integration of Coca-Cola with the clothing industry has enhanced the relevance and stickiness of the Coca-Cola brand with the new generation of consumers. From the perspective of the entire industry and consumer side, we are relatively optimistic about this type of crossover.
In the past, Coca-Cola looked for other brands to make “shirts”, but now it plans to make its own “shirts”. Although it may not be the most perfect time to make clothing now, Coca-Cola has all the basic conditions in place to sell trendy clothing online: it firmly grasps the core weapons of making trendy brands, has a story and understands marketing – several generations In people’s eyes, it is a symbol of youthful rebellion, equality and freedom, and Coca-Cola is happy to emphasize this. As for the actual work of clothing production and online store operations, just leave it to experienced third-party companies.
For a century-old brand, its goal is not only to make money, but also to dialogue with young people. A recognized business symbol is far more valuable than short-term commercial interests.
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