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The fashion ‘Value Chain’, opportunities and issues in luxury and fast fashion for both
industry sectors: a comparative analysis of Louis Vuitton and ASOS
Word count: 3493 words
Name: Dorottya Szucs
Student number: SZU13406966
Course: Graduate Diploma Fashion Management
Unit: Fashion Organisations
Tutors: Tim Williams, Malcolm Newbery, Milly Patrzalek
In the writing of this assignment I have received assistance from Tim Williams.
I, Dorottya Szucs, certify that this is an original piece of work. I have acknowledged all
sources and citations. No section of this essay has been plagiarised.
Executive summary
As consumers’ demands for immediacy are increasing, fast fashion production cycles
are becoming faster and leaner. Retailers with the shortest and quickest supply chain cycles
are reporting the strongest sales growth results (Weinswig, 2017). ASOS is able to bring
products from design to sale in as little as two weeks, which puts the brand ahead of
traditional fast-fashion retailers. Luxury brands like Louis Vuitton, on the other hand, increase
the value of their product to the customer by using high-quality raw materials and training
their employees to become the best possible manufacturers (Belime, 2010). ASOS makes
initial designs to test product demand, whilst LV struggles with material flow problems such
as waste and excessive inventory. LV’s factory is completely France-based, which limits
transport requirements within their supply chain. LV’s CSR promises to incorporate
sustainability in their manufacturing, creates products with durability in mind (such as their
“Horizon luggage”), and offers in-house repairs by artisans. These qualities make LV’s
product valuable to the eco-conscious luxury customer. However, LV does not address other
current issues that potential Generation Z and Millennial customers are known to be
concerned with. LV could learn from ASOS’s marketing strategies, which are based on
engaging with young consumers through launching body-positive campaigns such as
“#MySenseOfSelf”. ASOS communicates with their consumers through ten social media
platforms, and aims to be ahead of the “twenty-somethings of today” by focusing on
technology (using cloud-based architecture, and agile engineering methods to deliver value
quickly). ASOS’s HRM accentuates the technological aspect of their business to recruit
potential young technology-savvy employees. The HRM teams of ASOS are good at
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attracting potential candidates; and so are those of LV. Nevertheless, ASOS is better at
creating a friendly and approachable atmosphere, which is more difficult for LV, as the luxury
brand’s name remains prestigious. A positive aspect of LV’s HRM, though, is the training
they offer to new candidates, and the opportunity they provide for growth (Belime, 2010).
With the help of online articles, books, and databases, this report establishes the
above mentioned and additional points further in a comparative analysis of ASOS and Louis
Vuitton. Porter’s (1985) value chain serves as the framework for this analysis and provides
the basis for comparison. All primary activities were considered for both brands, and the
areas of practice that increase product value were identified for each of them. The analysis
was more selective of support activities, due to a limited word count. As a conclusion, the
report establishes a number of issues and opportunities within each brand, and provides
suggestions for the good areas of practice that each brand could take from the other.
The value chain, a comparative analysis
Porter’s value chain
Porter (1985:33) claims that a systematic way of exploring all the activities a firm
performs is crucial for analysing the sources of competitive advantage. A competitive
advantage stems from a set of activities which a brand pursues in its “design, production,
marketing, delivery and supporting functions” (Karlof, 2005:389). These activities are all
contributing to a company’s value and create a basis for comparison.
2
Louis Vuitton
Supply chain
Louis Vuitton (hereafter referred to as LV) is a reputable brand in the luxury industry
and is one of the most influential players in the market (Kim, 2013:219). It strives to blend
innovation with tradition (Belime, 2010:2). To protect product quality and brand value, LV has
a highly integrated, in-house and tightly controlled supply chain. It is vertically integrated
(from manufacturing to distribution). LV does 60% of its manufacturing in-house and owns
446 stores worldwide. Although they outsource 40% of their manufacturing to subcontractors,
LV is usually their only customer, therefore, LV claims to control almost 100% of its
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manufacturing. According to an interview conducted by Kim (2013:232), LV has three
strengths in its integrated supply chain. Firstly, it has complete knowledge and access to all
information such as market demand, inventory amount and location, which helps them
forecast accurately. Secondly, keeping their supply chain integrated allows them to protect
their proprietary know-how. Thirdly, it has an intensively centralised channel, and a tight price
control.
Primary activities
For LV, quality means “durability, details, sophistication, craftsmanship, and tradition”
(Kim, 2013:219). These are the company’s competitive priorities. LV especially accentuates
the importance of the quality of raw materials in their supply chain. All of their raw materials
(leather, canvas and metal) are received, controlled and disposed in their warehouse before
being sent into production (Belime, 2010:3). LV only purchases zips clasps from external
suppliers (Belime, 2010:4). In the interview Kim (2013:232) conducts with LV, a
spokesperson says “We should use the best materials to manufacture products, which are
sophisticated at the most detailed level”. Material, therefore, adds an important value to LV’s
final product. As reported by Kim (2013:220), it is included in LV’s plans to form a better
relationship with its raw material suppliers. LV should aim to control material flows better in
the factory to reduce material waste and excess inventory (Belime, 2010:6). An analysis
made by LV demonstrated that a significant amount of material was wasted or lost without
explanation (Belime, 2010).
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LV set sustainability and Corporate Social Responsibility standards within their
manufacturing. According to LV Chairman and Chief Executive Officer Michael Burke, “Great
design, sustainability and a great business do go hand in hand”. The “Horizon luggage” is as
an example to illustrate the brand’s commitment to the environment. This product is
constructed of “ultra-light materials” (aluminium cane, 50%-finer canvas, composite body),
which reduces CO2 impact by 20% during use. “Horizon’s” design promises the long-lasting
use that is critical in reducing the environmental footprint (“70% of repairs to this luggage can
be performed in an LV store within 48 hours, minimising transport and offering high-quality
service”). The use of local supplies, and the 100% France-based assembly, limits transport
requirements, and ensures respect for appropriate environmental practices.
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LV puts great emphasis on marketing and sales as well. It has a solid brand identity.
LV was found to be the most valuable brand in the luxury industry through a study conducted
by Millward Brown in 2011. A travel company with its nineteenth-century origins in Paris, the
ideal that centers the brand is journey. Travel is said to have lost its romance, as it has
become a duty rather than pleasure. With this twenty first-century tension between the ideal
of romantic travel and a reality which falls short, LV saw an opportunity to come in and make
a statement. Moreover, although LV still uses traditional magazine promotions to increase
sales, the world of advertising is changing and moving away from the glossy magazine pages
featuring a model with an LV bag. The new ad world is becoming a “hectic, decentralized
ecosystem of apps, targeted Web ads, and Facebook pages” (Thompson, 2011). The
brand’s challenge is to keep up a good balance between mass market technologies and a
high-culture message. Responding to this challenge, LV created Amble, a mobile application
that lets its users follow celebrities favourite travel experiences in various cities, or create
their own online journals with pictures, videos, and notes for further inspiration.
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LV’s brand image was built on the idea of excellence based on fine, traditional
craftsmanship along with the iconic “made in France” production label. The products are sold
without any promotional offers. The act of buying, therefore, has to be a unique experience
for the LV customer. LV tells a story about each product, creating a feeling of exclusivity and
satisfaction for their customer (Belime, 2010).
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Furthermore, LV carefully selects the celebrities featuring in their advertisements
(such as artists like Stephen Sprouse, Yayoi Kusama and Takashi Murakami) to make sure
they fit the brand’s message (Dazed Digital, 2017).
8
As a high-end luxury brand, LV offers high quality post-purchase customer service. All
LV products are handmade and require the “highest level of craftsmanship not only for
production but also for repairs” (Product care, uk.louisvuitton.com). Repairs are handled
exclusively in-house by the artisans in the LV workshops.
Support activities
The support activity this report will highlight for LV is Human Resource Management.
LV is one of the 70 “Maisons” owned by the LVMH Group. As a world leader in luxury, LVMH
has deployed a business model which has grown greatly since its creation in 1987. LVMH is
employing 125,000 people worldwide and reported sales of 37.6 billion euros in 2016
(Business of Fashion, 2017). HRM is an important function for LVMH. LVMH has a reputation
of being a favourable employer; it has successfully managed to preserve a family spirit,
which places priority on long-term vision (Business of Fashion, 2017). As a result, LV has a
wide range of candidates to choose from when acquiring new talent. The factory of LV itself
employs around 500 people, with each worker specialised in one or more areas of
manufacturing (Belime, 2010). LVMH (and thus, LV) provides quality training to its staff and
opportunity for growth (Talents, louisvuitton.com). People are a significant source of value,
thus, LVMH has created a clear advantage with its good Human Resource practices.
ASOS
Supply chain
ASOS define themselves as “a global fashion destination for 20-somethings.”
(MarketLine, 2016). They offer a wide range of fashion-related content online, which makes
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ASOS.com the hub of a thriving fashion community. ASOS sells over 75,000 branded and
own-brand items through the facilities of mobile and web. The company delivers from their
fulfilment centres in the UK, US, Europe and China to 240 different countries. ASOS tailors a
mix of their own-label (60%), global, as well as local brands sold through nine local language
websites: UK, US, France, Germany, Spain, Italy, Australia, Russia and China (MarketLine,
2016).
As a purely online fast-fashion retailer, ASOS is able to continuously refresh and
rotate a large part of their collections to increase customer shopping frequency. For instance,
the company adds up to 4,500 products to their website every week, as illustrated by the
figure below. This is a significant advantage compared to traditional retailers (Weinswig,
2017).
10
Primary activities
As an “ultrafast fashion retailer” (Weinswig, 2017:2), ASOS is able to avoid the retailer
dilemma of product shortages, or excessive inventory. ASOS operates an agile supply chain
to match inventory supply with fast-changing demand and tightly control the inventory to
balance undersupply and markdowns.
Figure 8: The Fast Fashion Response Cycle
Furthermore, ASOS is precocious within their operations; initial designs are made in
small amounts to test demand first. If these are successful, more items are quickly produced.
ASOS has a lower markdown level than traditional retailers, as shown below (Weinswig,
2017:3).
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ASOS is able to design and deliver an item to the customer in two weeks if it is a
simple item manufactured in the UK. More detailed or embellished products (i.e. “fashion
items”) take longer. The average time to market is around six weeks. ASOS is trying to add
even more value to their product by reducing the lead times on their own-label items. The
brand managed to increase their number of new own-label products launched weekly by 10%
in 2016. As a result, ASOS has seen strong sales growth over the past few years (Weinswig,
2017). The brand offers a “Premier Delivery” loyalty scheme as well: for £9.95, the customer
will receive unlimited UK next-day or nominated-day delivery with no minimum order.
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The service of ASOS also contributes to its success. The online retailer makes it
extremely easy for the customer to return an item. If the customer is unhappy with a product,
they may choose from eight different post offices to drop off and return their item for free (e.g.
Doddle, Royal Mail) within twenty-eight days of receiving the item. To get a refund, a
customer has to do no more than fill out the form below.
13
This means more workload for the service teams of ASOS, however, it is a smart move.
Through each return, ASOS receives data from the customer when they justify the reason for
their return (for example, “looks different to image on site” or “doesn’t fit properly”), as
demonstrated on the list below.
This function allows ASOS to track any faults that may occur in their supply chain and trace
customer feedback to further improve their collections, ensuring customer loyalty and
satisfaction. This puts ASOS in an advantageous position and makes ASOS a threat to other
traditional retailers.
ASOS adds a lot of value to their product via personal selling and promotion. The
company successfully addresses young customers in different campaigns, such as the
#MySenseOfSelf positive body image campaign. ASOS launched #MySenseOfSelf together
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with anti-bullying charity The Diana Award in 2015 (Mchugh, 2018). The campaign is an
interactive programme aimed at young people who need help managing issues around body
satisfaction, self-esteem and the effect of social media. To date, the programme has been
downloaded 2,500 times, and, according to the ASOS PLC website, it could benefit over
75,000 people (Mchugh, 2018).
Under their Corporate Responsibility statement (CSR, asosplc.com), ASOS claims they do
not “artificially adjust photographs of models to change their appearance”. They are offering
clothes for a wide range of bodies in over thirty different sizes, including petite, curve, and tall
for womenswear, as shown on the table below.
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The ASOS PLC website quotes Naomi Shimada from The Observer: “ASOS is one of the few
retailers that has finally figured out that size 18 girls just want to buy what all the other girls
are buying”. ASOS states that they are committed to stocking the same products from their
own-label range at the same price, regardless of size. By expanding their product range
portfolio, ASOS reaches out to the plus-size community, as well as any customer who is
tackling body image issues. This gives ASOS credibility and leads to new customers, as well
as customer loyalty.
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Support activities
“Technology development is important to competitive advantage in all industries,
holding the key in some” (Porter, 1985:42). ASOS claims that technology is crucial to
everything they achieve with the brand (asosplc.com, 2018). As an online retailer, they
identify themselves just as much a technology business as a fashion business. To stay one
step ahead of their “twenty-something market”, the company remains committed to
innovation, such as using cloud-based architecture to support their global reach, and agile
engineering methods essential to deliver items quickly.
ASOS, moreover, is promoting their technology-focused business to recruit potential
digital-savvy employees. They are encouraging the candidates to “grab the possibilities for
change and innovation with both hands”. ASOS define their workforce as “a place where
17
fashion and technology come together in perfect harmony, each side inspiring the other to
ever-soaring new heights (asosplc.com, 2018). By providing various internship opportunities,
ASOS creates an approachable atmosphere.
Opportunities for each company
The charts below summarise the key value chain activities of both companies
analysed in this report.
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ASOS has a more agile supply chain than LV, however, LV has an in-house,
controlled supply chain. ASOS does not have product shortages or excessive inventory. For
LV, as Belime (2010) pointed out, a considerable amount of material gets wasted in the
factory, and they often have excess inventory. Belime (2010) accounts that an area of
potential improvement for LV is the ramp-down periods in production, at the end of a product
life cycle. Another potential area according to Belime is the warehouse, which should have
performance indicators. This would make it easier to keep track of improvements on material
flows.
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LV uses better quality materials than ASOS and puts great emphasis on the
manufacturing part of the process, whilst ASOS only needs a short time to manufacture.
ASOS makes initial designs to test demand, which reduces the risk of not being able to sell
out. For LV, this strategy would be difficult to implement due to their slower production cycle.
ASOS has a quick response to young consumers’ increasing demands for immediacy and
constant newness, which drives their rapid sales growth and success (Weinswig, 2017). Due
to LV’s less frequent product turnover and higher price tags, it is more difficult for them to
keep up with the strong demand for newness.
ASOS provides rapid delivery and free returns, however, it does not offer repairs.
Contrarily to ASOS, LV promises fast, in-house repairs completed by skilled artisans in LV
workshops. LV’s post-purchase service contributes to the product’s quality and durability,
which is one of their main advantages over fast-fashion brands like ASOS. Compared to LV,
the products of ASOS are lacking quality and durability. ASOS could put more emphasis on
using better material, however, this would increase their price range, which is one of the
retailer’s most attractive qualities. It would also slow down their production rate. Balancing
speed and quality, therefore, is an important challenge for both brands. ASOS could,
however, improve the quality and durability of their items by offering product repairs like LV
does. This would also improve their sustainability. A downside of this, though, is that it could
potentially reduce customers’ purchases, as they would no longer need to buy a new item if
their current one is faulty, for example.
As the value chain charts demonstrate, both LV’s and ASOS’s marketing and sales
department are quite strong, and they have each developed unique brand identities over
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time. Nonetheless, there is a difference in how they address their customers. The benefits
offered, and how well these are communicated, are important sources of value for a fashion
brand (Chevalier and Mazzalovo, 2008). With is clever marketing ideas, such as travel
inspiration and unique stories behind each product, LV successfully managed to keep up its
brand image throughout the years. However, as today’s young customers’ priorities are
changing, LV’s traditional brand image might not be what they are looking for anymore.
Customers are now looking for brands’ messages to form an identity and make sense of a
new world (Thompson, 2011). Consequently, LV should expand its brand message and
address the topics that the new generations are concerned with. Although LV is making
efforts to create sustainable products such as the “Horizon luggage”, it has yet to address
other issues that today’s young customer might be interested in, such as authenticity, body
positivity, or health and fitness. For instance, Millennials are very conscious of their fitness
and feel under pressure to keep up a healthy lifestyle (WGSN, 2017). In spite of this, LV does
not have a sportswear collection, apart from a few items such as sporty caps and jumpers.
The search engine of ASOS.com, on the other hand, brings up 3,475 results under the word
“sportswear”, giving the fitness-oriented young customer a wide range of items to choose
from.
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ASOS addresses Millennials and Gen Z through campaigns like #MySenseOfSelf, and
by providing a “Curvy range” on their website. LV could also benefit from a wider product
portfolio, for instance, a plus-size line, which would show empathy toward body-conscious
consumers and their battles with self-acceptance.
An opportunity for LV to address the Millennial and Gen Z customer is within their
marketing concept of travel. The “Amble” app which provides travel inspiration was a great
start to this. As Expedia (2017) suggests, “Gen Z rely on their smartphones when looking for
travel inspiration”. According to Digital Tourism Think Tank, Generation Z will account for
40% of all consumers with disposable income to travel by 2020. To appeal to Gen Z’s new
travel priorities, LV should take their travel marketing further by possibly collaborating with
currently famous travel bloggers, celebrities, or anyone that the Gen Z could relate to.
22
Although LV’s online marketing is well-developed, it could make more use of online
marketing tools to reach out to today’s digital-savvy customer. ASOS publishes a wide range
of fashion-related content through Fashion Up, available for iPhone and iPad users. In
addition, ASOS is interacting with its customers daily through ten different social media
networking sites (MarketLine, 2016). This enables the company to engage with its global
clients, and this is an idea LV could also embrace.
LV could benefit from closing down some of its brick-and-mortar shops, and focusing
more on their online presence, like ASOS does. Nonetheless, LV should keep their travel
retail stores, as they remain practical for today’s travelling customer. Purely online
fast-fashion player, ASOS, might also benefit from having a physical presence at airports in
the future, which would put ASOS even more ahead of other fast-fashion retailers.
Finally, considering support activities, ASOS could take LV’s strategy of Human
Resource Management and put more emphasis on training new employees in specific areas
of manufacturing, in order to produce quality items. Although LV has a reputation of being a
favourable employer, it also has an unapproachable atmosphere to it, because of the brand’s
prestige. LV could learn from ASOS, as the brand focuses on targeting young candidates by
offering internships and entry-level positions, which gives the brand a more approachable
and friendly image.
23
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List of figures
Figure 1: Porter’s value chain. MindTools.com. Available at:
[https://www.mindtools.com/pages/article/newSTR_66.htm]
Figure 2: The Asnières atelier - “The heart of Louis Vuitton”. Louis Vuitton. Available at:
[https://uk.louisvuitton.com/eng-gb/articles/asnieres]
Figure 3: The Horizon 70 Monogram Canvas Luggage, costing £2,470.00. Louis Vuitton.
Available at:
[https://uk.louisvuitton.com/eng-gb/products/horizon-70-monogram-nvprod530003v]
Figure 4: The “Amble” App. Louis Vuitton. Available at:
[https://au.louisvuitton.com/eng-au/travel/amble]
Figure 5: The “Alma bag”, named after a famous Parisian bridge. Louis Vuitton. Available at:
[https://uk.louisvuitton.com/eng-gb/products/alma-pm-epi-000513]
Figure 6: Takashi Murakami for Louis Vuitton. Dazed Digital. (2017) Available at:
[http://www.dazeddigital.com/fashion/article/35567/1/louis-vuitton-art-collaborations-ya
yoi-kusama-richard-prince-cindy-sherman]
Figure 7: Number of weekly added items. Weinswig (2017) Fung Global
Retail & Technology. Available at:
[https://www.fungglobalretailtech.com/wp-content/uploads/2017/05/Fast-Fashion-Spee
ding-Toward-Ultrafast-Fashion-May-19_2017-DF.pdf]
Figure 8: The fast fashion response cycle. Shaw, Koumbis. (2014) Fashion Buying: From
Trend Forecasting To Shop Floor. p.27.
Figure 9: Product markdowns. Weinswig (2017) Fung Global
28
Retail & Technology. Available at:
[https://www.fungglobalretailtech.com/wp-content/uploads/2017/05/Fast-Fashion-Spee
ding-Toward-Ultrafast-Fashion-May-19_2017-DF.pdf]
Figure 10: ASOS Premium Delivery. ASOS.com Available at:
[http://www.asos.com/customer-service/premier-delivery/]
Figure 11: ASOS return form. ASOS.com. Available at:
[http://www.asos.com/customer-service/returns/]
Figure 12: ASOS Reason for return list. ASOS.com. Available at:
[http://www.asos.com/customer-service/returns/]
Figure 13: #MySenseOfSelf campaign. PHE
Association. Available at:
[https://www.pshe-association.org.uk/curriculum-and-resources/resources/mysenseofs
elf-%E2%80%93-body-image-and-self-esteem-lesson]
Figure 14: ASOS ranges. ASOSPLC.com. Available at:
[https://www.asosplc.com/corporate-responsibility.aspx]
Figure 15: ASOS CSR. ASOSPLC.com. Available at:
[https://www.asosplc.com/corporate-responsibility.aspx]
Figure 16: Louis Vuitton value chain
Figure 17: ASOS value chain
Figure 18: ASOS sportswear. ASOS.com. Available at:
[http://www.asos.com/search/sportswear?q=sportswear]
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