Executive Summary
Founded in 1985, L.A. Gear’s primary focus was on a young female market and promoting a trendy California lifestyle. Later, the company altered its focus to include the men’s performance athletic market. Consequent company restructuring in 1991 led to a change in top management, new advertising campaign, reorganization of product groupings, and significant cost reductions. Tough competition from Nike and Reebok compounded with internal weaknesses has led to declining market share and low profits.
To revitalize the brand, the company must take actions towards brand development. The company should create a new brand to represent the premium line. By divesting some of the men’s shoe line, the company will be able to fund the marketing efforts to build brand awareness. The new brand will focus on the fashion strength of the company in a trend changing market. To manage these expectations, the company should invest in a production facility to have quality......
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Approximate Word Count: 2005
Approximate Pages: 8 (260 words per double-spaced page) |