SWOT Analysis of 10 Corso Como

ELEMENT 1: MANAGING LUXURY AND CREATING & DELIVERY LUXURY
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Element 1: Managing Luxury and Creating & Delivery Luxury
Introduction
The beauty and lifestyle boutique 10 Corso Como is a Milan institution. Opened in 1991 by former Vogue Italia editor Carla Sozzani, the store blurs the line between an art gallery and retail space, featuring cutting-edge fashion and design alongside one-of-a-kind objets d’art. The company combines the shopping and dining complexes and sells art, fashion, music, and culture. The report analyzes the company’s situation in offline and online channels (10 Corso Como, 2022). The offline channels are stores, bookstores, galleries, cafés, hotels, and gardens, whereas the online channels are e-commerce and social media websites. The future development would be based on benchmarking, consumer target, competitors, brand selection, application, brand, and influence.
Analysis: The Current of 10 Corso Como
The analysis is conducted for different projects based on the SWOT analysis to determine the current strengths and weaknesses and expected opportunities and threats.
Offline Channel Analysis
10 Corso Como is a shopping and lifestyle brand founded by Carla Sozzani, sister of fashion designer Karl Lagerfeld. The company operates a series of stores worldwide, selling fashion, art, books, food, and home decor. The brand has been described as “luxury without the price tag” and is known for its high-end but affordable products. In 2014, Forbes ranked 10 Corso Como as the world’s most valuable luxury fashion brand. Notable locations of 10 Corso Como include Milan (where two stores are located), New York City, Seoul, Beijing, Shanghai, Taipei, Hong Kong, Tokyo, Singapore, and Sydney, Australia (10 Corso Como, 2022). Table 1 shows the SWOT analysis of offline channels:
Table 1: SWOT Analysis of Offline Channels
Strengths
* Clean and tidy stores with many brands (Trip Advisor, 2022).
* A wide range of items, not just clothes, shoes, and many household items.
* The shop is decorated with the logo of its brand and is representative.
* A gift wrapping section with a wide choice of wrapping paper
* The book section covers various categories (Trip Advisor, 2022).

Weaknesses
* The shop assistant is not welcoming
* Little variety of accessories and bags
* The decor is a bit old fashioned
* No separate lounge area for customers to read.

Opportunities
* Enhanced training for shop staff
* Introduce more jewelry and bags, such as sunglasses and necklaces
* Introduce Asian brands, such as Korean or Chinese.
* Widen the price range of the products and introduce more affordable products
* Increase the number of events and set up some seating for guests (Ansoff et al., 2018).

Threats
* The concept stores are a severe threat
* Brand collection shops
* Available hotels in Milan and Airbnb are a threat to the hotel sector of the company (Ansoff et al., 2018).

Online Channel Analysis
eCommerce of 10 Corso Como is an online store that sells luxury fashion and lifestyle products. The store offers a wide range of products, including clothing, accessories, home decor, and lifestyle products, where customers can choose their favorite products and get them shipped to their homes. 10 Corso Como is known for its high-quality products and unique fashion and lifestyle approach. It is a social media powerhouse with an engaged and highly active audience. The brand has a strong presence on all major social networks, with the greatest engagement on Facebook and Instagram (10 Corso Como, 2022).
Its Facebook page has over 379,000 fans and the brand posts on average 2-3 times per day. Most posts are photos, and the brand typically receives hundreds of comments and likes on each post. The Instagram account has over 280,000 followers and posts on average 2-3 times daily. Most posts are photos, and the brand typically receives hundreds of comments and likes on each post. Its online presence is highly engaging and well-optimized for social media marketing purposes (Flawless Life, 2022). The brand has a strong following on all major social networks, which gives it an edge when targeting potential customers. Table 2 shows the SWOT Analysis of online channels:
Table 2: SWOT Analysis of Online Channels
Strengths
* A distinctive style that includes many brands to sell online
* Available in many languages and is easy to use
* Accounts on all major social media
* Personalization of pages
* Strong branding on the page with shopping links

Weaknesses
* It cannot ship worldwide
* Some inconsistencies between in-store and website content
* Not first in search engines
* Not up to date with new releases
* Consumers are not considered in other countries, such as China, where Insta and Facebook are unavailable.
* Content is somewhat one-dimensional and not rich enough

Opportunities
* Can make a WeChat public page for Chinese customers
* Inform in advance when new products will be released
* Collaborate with famous artists and bloggers to raise awareness.

Threats
* Growing competition from other close competitors like Gucci
* Changing international laws and regulations
* Changes in customers’ demands and preferences

Summary of the Analysis
Both online and offline store analyses indicate that the company has established its roots efficiently in different markets. The business offers many items like books, gardens, stores, bookstores, and more. The online stores are available in many languages to attract a diverse customer base. However, the company faces severe threats from other luxury brands like Gucci. Besides, the company has established its roots in limited countries and does not ship worldwide. There is a growing oppo...