The Benefits of Brand Collaboration

12th November 2019

The German sportswear giant, Adidas, has teamed up to collaborate with the Luxury Italian Fashion house, Prada. These two famous names have joined forces to produce a limited-edition trainer and sailing shoe.

 

It is the first time two of the most famous names in retail have combined in what is being described as a ‘long-term relationship’.

"The aim of this partnership is to investigate the realms of heritage, technology and innovation - and to challenge conventional wisdom through unexpected strategies."

The shoes will be "based on an authentic fusion of fashion and sport" that mixes their "sporting heritage and visionary approach" Prada’s Marketing Department has explained.

The shoes will be manufactured by Prada in their Italian factory. The project is referred to as “a new collaborative journey,” meaning much more is likely to come from the partnership.

The #PRADAFORADIDAS product release is going to be in December 2019.

So, why do brands collaborate, and does it really work?

Increase in market share

When two brands come together, the main objective is to offer unique and innovative products to customers, this will give them a competitive edge and advantage in the market, with the increased market share, both parties enjoy the higher return on investment and increase of profits.

Knowledge Sharing

The aspect of collaboration shared from both companies increases the knowledge and creativity to create the perfect product for your customer.

Higher Profits

The main objective of any business is to generate higher revenues and profits by increasing sales. Brand collaboration is one of the best strategic tools for a business to gain higher profits.

Widened Base of Customers

A brand collaboration helps both brands to widen their customer base as the target market and customers of both of the brands are combined. People who wouldn’t usually be part of a brands target market, who maybe aren’t aware of them, will be exposed to their products and services.

Increased Brand Reach

A brand collaboration not only grabs the attention of industry competitors, peers and market insiders but it also grabs the customer base of both brands who are going to be excited about the outcome of the collaboration.

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