Daniel Leather : Success is Only Skin-Deep
For 45 years, Danier Leather sold its leather coats and accessories in 84 stores across Canada. Established in 1972, the brand never set out to be cool; it sold classic leather coats for adults at reasonable prices.
Faced with bankruptcy in March, the company reopened in Ontario last fall with only three stores, and dropped the word Leather from its name. Under new ownership, Danier switched over to fashionable sportswear in a variety of fabrics, targeting a young, trendy clientele. But wait a minute…aren’t there a lot of world-famous brands already doing that?
The growing popularity of down-filled parkas squeezed out this niche retailer, which had allowed itself to become outmoded over the years. But, in attempting to refocus its brand on a younger, trendier clientele, Danier let down its loyal, long-time customers, who had valued and sworn by the brand from the start. The company suffered huge financial losses.
Danier remained inert for too long in a fast-evolving competitive environment. Changing your image and building a new clientele is never easy, but can be done if you proceed gradually and don’t alienate your loyal customer base along the way. This is where Danier Leather went wrong.
Image Source : Huffington Post