The Marketing mix of VERO MODA analyses the 4Ps of VERO MODA, including the Product, Price, Place, and Promotions. Starting in 1987, VERO MODA is one of the top choices for all independent young women who are fashion-conscious today. The brand is one among the many product brands marketed by the BESTSELLER family. A brainchild of Troels Holch Povlsen, the brand has become one of Europe’s most affordable yet trendy and good-quality clothing destinations. The headquarters of the mother company is in Brande, Jutland, Denmark.
About VERO MODA
- Type: Fashion brand
- Industry: Fashion
- Founded: 1987
- Founder: Troels Holch Povlsen
- Headquarters: Brande, Denmark
- Area served: Worldwide
- Key people: Anders Holch Povlsen (Chairman) and Adam Schulman (CEO)
- Number of employees: 13,000
Table of Contents
VERO MODA Product Strategy
VERO MODA is a chic or, rather, a young lady fashion label credited for its constant efforts to always get to where its customers are and where the customers would want to be. VERO MODA is a fashion and independent young woman-oriented brand offering women good quality, trendy, and affordable clothes. In the product listings, you will find anything you want.
Be it a sexy dress or a mature fashion brand that makes you feel confident and stylish, all these are within their stores. You will get products that are rich in style and color blending. Their philosophy is to provide the market with good looks through their philosophy of “with its worn look better.”
The brand well suits career women aged between 25 and 35 years. There are also a lot of casual fashions for those who aren’t in the formal sector, or just something to make you feel relaxed during the weekends. In other words, the basic definition here is Simple & Elegant at VERO MODA.
The new Product Mix of VERO MODA in 2023 is as follows (Source).
- Clothing: This is the core category of VERO MODA’s product mix. It includes various women’s apparel such as dresses, tops, t-shirts, blouses, jeans, trousers, skirts, jackets, and coats. The brand is known for offering both casual wear and more formal attire.
- Outerwear: This category includes jackets, coats, and blazers. VERO MODA offers outerwear suitable for different seasons and occasions, from lightweight jackets for spring or fall to heavier coats for winter.
- Accessories: Accessories form an essential part of the product mix. This category usually includes scarves, belts, bags, and jewelry. These items complement the clothing line and complete the fashion look.
- Footwear: Although not as extensive as the clothing line, VERO MODA often includes a range of footwear in its product mix. This may consist of boots, sandals, sneakers, and heels.
- Special Collections: Occasionally, VERO MODA introduces special collections. These can be themed around specific fashion trends, seasons, or collaborations with designers or celebrities.
- Sustainable Fashion: VERO MODA has incorporated sustainable fashion into its product mix. This includes clothing made from eco-friendly or recycled materials, highlighting a commitment to environmental responsibility.
- Plus Size Fashion: Some of VERO MODA’s range includes plus-size options, catering to a broader range of body types.
- Loungewear and Intimates: This category includes comfortable homewear like pajamas, loungewear sets, and intimate wear.
VERO MODA Place Strategy
VERO MODA is featured in all the high street locations throughout Europe’s major cities. The brand has created a seamless journey between online and offline buying. It dominates fast fashion in Europe, China, the Middle East, Canada, and India.
BESTSELLER has about 5,700 retail stores and about 12,000 wholesale stores all over the places it has covered. In Europe, the VERO MODA brand is all over Milan, Paris, Copenhagen, London, etc, with the brand being at the forefront of popularity, especially within the fashion-conscious population.
Here’s the place strategy of VERO MODA.
- Global Retail Stores: VERO MODA operates a network of physical retail stores in multiple countries worldwide. These stores are often located in prime shopping areas, including major shopping malls and high streets, making them accessible to a broad customer base.
- Online E-commerce Platform: The brand has a solid online presence through its e-commerce platform. This allows customers to shop from the convenience of their homes, reaching a wider audience, especially those who prefer online shopping.
- Multi-Brand Outlets: VERO MODA’s products are available in various multi-brand outlets and department stores. This strategy helps reach customers who shop at these popular retail destinations, enhancing brand visibility and accessibility.
- Strategic Location Selection: The brand significantly emphasizes selecting locations that align with its target market. This includes setting up stores in fashion-forward and urban areas, catering to the demographic that aligns with their brand image.
- Partnerships with Online Retailers: VERO MODA collaborates with other leading online fashion retailers to distribute its products. These partnerships allow the brand to tap into the established customer base of these platforms, further expanding its reach.
VERO MODA Pricing Strategy
The VERO MODA core values push the brand to provide quality, on-trend clothing to the customers with core styles and dressing designs that interest them while keeping the prices reasonable. As a result, the brand analyses the product’s value and marks the price at the lowest possible rate. This is one of the reasons why the brand has been able to dominate most European and Asian countries even at times when the economies are on the ground level.
VERO MODA’s pricing strategy is a well-calibrated blend of market-oriented and value-based approaches designed to appeal to its target audience and demographic of fashion-conscious, independent young women who seek style at an accessible price point. Here’s an overview of their pricing strategy:
- Market Penetration Pricing: Initially, VERO MODA may have used market penetration pricing to attract customers and establish a foothold in new markets. This strategy involves setting lower prices than competitors, making it an attractive option for budget-conscious yet fashion-forward consumers.
- Competitive Pricing: VERO MODA positions itself competitively within the fashion retail market. It closely monitors the pricing strategies of its competitors and adjusts its prices accordingly, ensuring that it remains an attractive choice for consumers seeking quality fashion at reasonable prices.
- Psychological Pricing: The brand often employs psychological pricing tactics, like pricing items just below a whole number (e.g., $19.99 instead of $20). This strategy effectively makes the price appear significantly lower and more attractive to consumers, encouraging purchases.
- Dynamic Pricing: With a solid online presence, VERO MODA leverages dynamic pricing strategies, where the prices of products can vary based on demand, inventory levels, and consumer behavior. This approach helps maximize profits while remaining competitive and relevant in the market.
- Promotional Pricing: VERO MODA frequently uses promotional pricing strategies, such as discounts, sales, and special offers (like buy one get one free, seasonal sales, or Black Friday deals). These promotions incentivize purchases and help clear inventory, thus maintaining a fresh and up-to-date product line.
- Value-Based Pricing: Above all, VERO MODA emphasizes value-based pricing. The brand focuses on delivering high perceived value – trendy, quality fashion at prices that consumers are willing to pay. This strategy aligns with their brand image of offering contemporary fashion at accessible prices, catering to a style-conscious audience that values aesthetics and affordability.
VERO MODA Promotion Strategy
The best way of promoting a clothing brand is by letting fashion-conscious people do the marketing for you. VERO MODA has long associated itself with models to market the brand. These models include Christy Turlington, Gisele Bundchen, Claudia Schiffer, Kate Moss, and Helena Christensen. These celebrities largely contributed to creating the branding of the VERO MODA fashion world.
VERO MODA coordinates six promotion campaigns annually, bringing the brands more profound into the market and driving more sales. The campaigns include social media promotions, pay-per-click advertisements, email promotions, SMS marketing, Newsletters, brand’s website promotion, in-store materials, and print media advertisements.
Videos promote the brand and showcase the styles linked to the online store products and merchandise. In the videos, catwalks are included, as well as new seasonal collections, “trend takeaways,” and how-to videos. In other words, VERO MODA uses digital marketing as a promotional strategy.
Some Recent Video ads and Print ads for VERO MODA are:
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