For 15 years the balance sheets of German fashion retailer Brax have been a feel-good story for the company management. Then last year, the figures suddenly sank.
The 3 percent fall came as a shock at Brax headquarters in the northern German town of Herford. The company’s marketing chief, Marc Freyberg, took it as an alarm signal that the brand needed to adjust its course. Instead of blaming it on hard times for the clothing industry, the clothier, which operates under the slogan “Feel Good,” began an intensive strategic analysis.
What the company found was that the brand and its clientele had grown old together. The brand was too old-fashioned to attract new, younger customers. Even worse, continuing to produce the same kind of modern-classic trousers and jackets meant that its customer base would die eventually off.
“We wanted to become tangibly more modern,” Mr. Freyberg told Handelsblatt. “We wanted to start speaking to our customer base when they were 35, instead of 45.”