How to Increase the Volume of Your Business in the Middle of a Crisis: The case of Alexander McQueen

You must have read about it a thousand of times. The COVID-19 era (roughly from the early 2020 to this summer) has marked one of the lowest points in the worldwide economy since the Wall Street crash in 1929. It is a real catastrophe for many companies, especially those that operate internationally. Revenues dropped dramatically in a matter of weeks. Many owners were forced to take desperate measures, including reduction of their workforce and production cuts.

It is also a fact that the fashion industry is one of the international business sectors that suffered more of the financial consequences of the pandemic. The crisis provoked by the pandemic threatened to bring the whole sector to its knees. Many market operators have stated that this category was at a crucial crossroads. The fashion industry lost many of it’s pillar events such as fashion weeks, special events and gala evenings. The spin off from the crisis also affected companies that farm the raw materials, processing labs and even fashion magazines have been hit with thousands of job losses. On a positive note, there has been a practical rebirth in the industry. This is based on factors like sustainability and other ways of protecting the environment.

It is easy to say, very hard to achieve change. Despite that, many big brands seem to have succeeded in that, and the collapse of the whole fashion industry seems to have been averted . The glittering high fashion traveling shows have resumed at full or half capacity.  Most of the important fashion houses have marked 2021 as the ultimate restoration year as business gets back to normal.

Nevertheless, while the majority of the big names in this industry were busy struggling to survive, a select few managed to take advantage of market changes and were able to increase the volume of their business. Make no mistake: they are rare exceptions, but their recent achievements did not happen by chance. They were a result of a simple, yet subtle marketing strategy, made possible with an unusual range of “best practices”.

Alexander McQueen has been the company that was able to thrive during this period and to consolidate its position on the international market. So, while the other big brands were questioning their own existence, the British fashion house came up with a plan that resulted in getting closer to their clients. The result:  massive growth and an even stronger loyalty. How did they achieve that? Let’s examine their most significant tactic:

1. They counted on many celebrities’ endorsements. In periods of famine, never refuse a good word from a powerful friend: it can come handy in many ways. This is what someone at Alexander McQueen must have thought in the past months. So many celebrities’ came out in support of the British brand. The latest: Kate Winslet, who claimed that her 1998 Oscar Ceremony dress (the English actress was nominated – but didn’t nab the statue – for her performance in James Cameron’s Titanic) is her favorite dress of all time.
2. They kept a massive presence on social media. While it was building more  consensus among the celebrity community, Alexander McQueen continues to have solid contact with their loyal followers and client base. How did they do this? Plain and simple: by ensuring a significant presence on every social media platform. The fashion house’s social accounts are constantly updated, and their content is interesting, sometimes witty, often amusing and diverse. In doing so, their followers and potential buyers always feel like they are in the know.
3. They enhanced and updated their product range. For example, they’ve put a lot of effort into launching their new leather accessories’ line. Their purses and belts, in particular are ready to go toe to toe with brands like Gucci or Louis Vuitton who are leaders in this category.
4. They have been able to design trendy pieces that are gender-fluid. This is probably the most interesting tactic. Alexander McQueen proved to be the best interpreter of the current era of gender fluidity. We  see it every day: more and more people are coming out as non-binary including many celebrities that refuse to identify themselves as a “traditional” gender. They don’t define themselves as male or female individuals and refuse to be categorized. A clothing style that wasn’t gender specific was born.  Alexander McQueen provides a range of garments that are gender fluid: male pieces of clothing also suitable for a woman and vice versa. It is one of the best way to break down gender boundaries. Without much planning it has become one of the most profitable ideas. It also helped Alexander McQueen climb up to the top of the most reliable business rankings.