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LA Gear 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
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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 control measures in place.
Recommendations
Invest in a production facility.
Divest men's shoe line to crystallize company focus on young female market.
Create a new brand name.
Rebuild current premium brand.
Increase research and development.
Conclusions
There is a lack of quality.
L.A. Tech brand not viewed as high performance.
Sales have decreased.
L.A. Gear has lost market leadership.
Technology is a factor in performance shoes.
Detail of Findings
The management at L.A. Gear consists of; Stanley Gold, Mark R. Goldston, Christopher Walsh and William Benford. Mr. Gold, CEO, is considered to be a turn around expert. He is highly educated and experienced. Mr. Goldston, COO, was previously the chief marketing officer at Reebook International. He is the president of Faberge USA cosmetics.
The rivalry among existing...
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