Brands & Digital Branding

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BRANDS & DIGITAL BRANDING

WINTER TERM 2019

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Group Brand Audit

Folli Follie

BATZORAKI NEFELI 228948

MEMO MARO 230494

MILLER SOPHIA 193854

Table of Contents

1. Introduction……………………………………………………………………3
2. The Folli Follie company……………………………………………………...4
3. Brand inventory………………………………………………………….........5

3.1. Brand Value Pyramid……………………………………………….........5

3.2. Brands Elements of Folli Follie……………………………………..........8

4. Brand exploratory……………………………………………………………..10

     4.1. Media’s impact…………………………………………………………...10

     4.2. Survey……………………………………………………………………16

5. Conclusions……………………………………………………………………30

6. Brand recommendations……………………………………………………….32

7. Marketing Brief………………………………………………………………..36

8. References …………………………………………………………………….37

9. Appendix………………………………………………………………….…...40

Introduction

This assignment is for the Digital Brand audit we were requested to complete for our master’s degree program in the field of Digital Communications and Social Media and more specifically for Brands and Digital Branding course. The team – consisted of Nefeli Batzoraki, Maro Memo and Sophia Miller – chose the Folli Follie company so as to perform a mini brand audit.

The purpose of this brand audit is to critically evaluate the brand Folli Follie based on its strengths, weaknesses, value and strategic direction. In the below assignment the Folli Follie team tried to ascertain what Folli Follie stands for and how the brand is performing in the eyes of the customers.

In order to achieve it the team conducted a brand inventory - a descriptive exercise to gather and evaluate information about the company and its main competing brands – as well as a brand exploratory – a thorough research exercise to identify potential sources of brand equity.

From the critical evaluation the team will propose strategic recommendations to help leverage Folli Follie as a brand and will use theory and data that is available to support our recommendations.

2. The Folli Follie company

Folli Follie is an international affordable luxury jewelry, watch, and accessory company.  The brand design is influenced by a combination of Greek, Italian, and Swiss designers.  The company is Greek based and is currently available in 31 countries worldwide.  Currently, there are 351 Folli Follie stores on the Asian continent, compared to only 135 stores in Europe, overall there are over 550 points of sale worldwide available to consumers.

In 1982 Folli Follie was founded by Greek Dimitris Koutsolioutsos and his wife Ketty. The same year, the first Folli Follie store opened in the center of Athens.  From the beginning the company was focused on jewelry and would later launch a watch and accessories line in 1994 and 1994, respectively.

Folli Follie offers affordable prices for a large selection of luxury pieces that represent every day and classic items to statement items. The brand is known for the iconic motif collection, as well as their popular seasonal collections.  The jewelry reflects elegance, positivity, and modernity and aims to make women feel happy, attractive, and in fashion.

Regardless of the issues they are facing, Folli Follie has the opportunity to continue to be a memorable brand.  By taking the right steps and the correct approach, Folli Follie has the opportunity to earn the trust of their customers back.

3. Brand inventory

The Folli Follie team conducted a brand inventory aiming to provide a current, comprehensive and up-to-date profile of how the company’s products are marketed and branded. Through analyzing the brand inventory, the team tried to reveal the extent of brand consistency and if a lack of perceived differences existed among different products sharing the brand name. Company’s brand elements: name, url, logo, symbol, characters, spokespeople, packaging, slogans, jingles and signage are presented thoroughly below. Moreover, the team profiled the main competitive brands in detail so as to determine the points-of-parity and points-of-difference.^[1]

3.1 Brand Value Pyramid

Folli Follie

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Direct competitor:

Brand Value Pyramid for Swarovski

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Brand Value Pyramid for Pandora

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3.2 Brands Elements of Folli Follie

In the below chapter the Folli Follie elements – the different components of the company – are presented.

Logos and Symbols:  Folli Follie or FF