Brand equity analysis: Alexander McQueen

Brand equity provides value to customers by enhancing their interpretation of the brand and products, increasing consumer confidence in their purchasing decision and overall satisfaction. It allows the brand a personality derived from consumer perception of the brand name determined by brand loyalty, name awareness, perceived quality, brand associations, and other brand assets.

First in brand equity is brand loyalty, this is customers who have remained loyal to the brand – loyal customers can be considered more valuable than new customers. Names to be often associated with Alexander McQueen include Sarah Jessica Parker, who as well as being seen in McQueen twice, accompanied Lee to the Met Gala 2006. Arguably one of the most influential persons to wear McQueen is Kate Middleton: Sarah Burton created her wedding dress, plastering the brand’s name over newspapers globally. Other important associates include Naomi Campbell, Katie Holmes, and Kate Moss. The consistent elegance has created customer loyalty of mature luxury women whom favour McQueen’s quirkiness mixed with femininity.

Third in brand equity is perceived quality; this can be determined by the brands McQueen is associated with, previous quality standards, and stockists of the brand. McQueen can be purchased from high end department stores such as Harvey Nichols, Harrods, and Selfridges which speaks highly for McQueen. Other fashion brands I found similar to McQueen were Chloe, Dolce & Gabbana, Kenzo, Yves Saint Laurent, Versace, and Louis Vuitton – some which are owned by McQueen’s parent company Kerring. McQueen’s designs are often seen at red carpet celebrity events, therefore as a consumer you would expect the highest quality standard.

Fourth is brand associations, for example celebrity endorsements. This ties in with brand loyalty. McQueen is notorious for taking risks, and the holographic image of the then out-of-favour Kate Moss during the 2006 'Widows of Culloden’ show in Paris would initially have been thought to damage the brand equity, however it proves McQueen’s edge and created brand awareness from the backlash. Using a model whom at the time was associated with drugs and heavy drinking created McQueen to be a dark horse, and a topic of conversation. Other associates include Gucci, and Kerring the parent company.

Lastly is other brand assets – McQueen’s signature asset still remains the skull print, seldom used before McQueen now favoured in the fashion world to cut short an entire femininity edge.