Ann Taylor Case Study
The issue facing Ann Taylor in 2014 was a fairly common one, particularly for brands that have been established for as long as this women's clothing store magnate has been. This chain of specialty stores was initially established in 1954. As such, it had witnessed myriad changes in styles and fickle customer tastes since the midway point of the 20th century. The crux of the issue that Ann Taylor was experiencing was simple enough: it needed to change with the times without alienating its core customer base and style. Specifically, there was a conflict of sorts in the two directions that the store could have gone in at this point in time. One of these was typified by its LOFT stores, which traditionally sold casual clothes that were less expensive that typical Ann Taylor products. The second direction was typified by the traditional Ann Taylor line, which was centered upon upscale, fashionable clothing for professional women. Therefore, the problem statement that Ann Taylor faced at this point in time when it was re-emerging...
The concept behind LOFT was viable both from a
fashion perspective and financial one. It would attend to the clothing and accessory needs of women looking for a more casual look. It addressed this need in a salient manner since around the time it was introduced (at the end of the 20th century) there was a growing movement for a more casual dress code in the office place. The brand always appealed from an economic standpoint as well, as it offered clothing at approximately 30% less than conventional Ann Taylor store's did. Still, the popularity of LOFT and the style of clothing it represents for the contemporary zeitgeist in which casual clothing is becoming more ubiquitous is indisputable. There is a bevy of financial data that attests to this reality. The LOFT stores have made steady gains in their fiscal year ending numbers ever since 2012, with the stores ending with $1,276.4 in February of 2015.…
