Fila SWOT analysis – SWOT analysis of Fila: Fila brand was founded in 1911. Fila began to be created in 1911 through Giansevero Fila who was born in Italy. The company began by creating clothes designed for people who resided within the Italian Alps and it now produces sportswear for athletes women, children, and men. It is now headquartered in Seoul Korea after it was acquired in the year 2007 by Fila Korea.
The company is now operating as a subsidiary of South Korea. The brand is currently led by Yoon-Soo Yoon who is a chief executive officer and chairman of the business. The brand is in several countries around the world. It is Korea’s most popular sportswear manufacturer.
Fila Korea now holds all rights to the global use of the footwear and clothing brand owned by the parent company. Fila Korea reported $706 million dollars in revenue during 2018’s second quarter, which was up from $619 million.
Fila fun facts: Fila’s ”The Grant Hill sneakers” became instantly popular on the West Coast when Tupac Shakur wore a pair to promote his new album ‘All Eyes On Me’.
About Fila – SWOT analysis of Fila
Company: FILA Holdings
CEO: Yoon Geun-chang
Founder: Ettore Fila | Giansevero Fila
Year founded: 1911, Italy
Headquarters: Seoul, South Korea
Annual Revenue: US$2.6 Billion
Profit | Net income: US$334 Million
Number of employees: 5,700
Products & Services: Shoes and apparel | Athletic shoes | Clothing | Sneakers and sportswear | tennis gear | Accessories
SWOT analysis of Fila – Fila SWOT analysis
SWOT Analysis Of Fila is brand-based. SWOT Analysis of Fila evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing Fila’s SWOT Analysis. Below is the detailed SWOT Analysis of Fila.
Let’s talk about Fila’s SWOT assessment.
Strengths of Fila – Fila SWOT analysis
1.) The heritage of the brand
It is a true sports brand that embodies an essence that reflects Italian tradition. The brand is proud of the rich heritage of its roots. Fila utilizes top-quality fabrics that allow for the greatest flexibility and performance and the Fila products reflect the elegance of Italian workmanship.
The brand is aware of the beauty of sports and is committed to standing out, not becoming a part of it. The brand is reinventing itself as a brand with a long history. The brand is in the process of bringing its products that were popular in the 1990s to market. segment and has succeeded in changing its brand name.
2.) Famous sports brand ambassadors for brands
The Fila brand has always had fun and kept in touch with outstanding athletes and individuals with an intense love for performance and sports. Fila was a supporter of Kim Clijsters, who was the first to get back the US opening in 2009 after an extended period of 18 months in retirement.
Fila continues to support the sponsorship of sports events such as the BNP Paribas Opens in Indian well, and Porsche Tennis Grand Prix, and is also an official licensee for footwear for Wimbledon. Fila has a long tradition of collaborating with individuals who have had an impact on sports history. The brand has a presence in India and is working with Rannvijay Singh to promote its motorsports clothing.
3) Nostalgia brand
Fila’s “heritage” category is taking most from the retail market. “The “Ugly Shoe” movement has brought old-fashioned, bulky shoes back into style. The brand’s “heritage” category is building revenues for the brand, and the sales in the category went is up to 1465 in the year 2018.
Many can identify with the brand as a nostalgic brand. There aren’t any famous or sporting endorsers and it’s all about the brand. This style has been the most sought-after fashion this season.
Fila employs innovative thinking at the core of many of its designs. Its evolution of the brand is driven by the concept of the pursuit of innovation. Fila Skates is changing the skating world with its design that is performance-oriented in both ice skates and inline scenarios.
The brand also launched gender-neutral sports toiletries which were dubbed “Change the game” which ensures freshness and protection during the entire day. The Fila sneakers called Disruptor are the essential trainers for this season. The range of products in the collection is water-resistant, breathable, and fashionable.
Weaknesses of Fila – SWOT Analysis Of Fila
Fila has a very slow rate of growth when compared to its popular competitors like Addidas or Puma. In 1997 the year of Fila’s US sales reached a peak at $687 million and then the issues began when the company tried to get into the luxury sector.
Nike is among the most renowned brands in the field of sports when it comes to footwear. involved, and no company could come as close to Nike. Addidas brand is a specialist in sporting products manufacturing and provides fierce competition to Fila. Reebok offers an impressive brand and market share. It is also the 3 3rd highest rival of Fila
2.) Stores and distribution
The brand must for it build a solid presence in multi-brand stores in India and must further increase its retail reach. The company was having a difficult time trying to define its brand’s identity because of the change in ownership.
The company in India has just four independent stores located in Mumbai. It is required to create an Omni– channels retail format in order to cater to the Indian customers. The brand currently has just 250 stores of large style pan-India. The brand is required to grow by establishing a franchisee network with standalone retail stores. Fila is required to improve the sales it makes online, which are only 10% sales at present. The brand must enhance its visibility, improve its distribution network, and boost its visibility through marketing and promotion.
Opportunities of Fila – Fila SWOT analysis
1.) Intending into casual clothing and sporting equipment
The demand for brand-oriented tops and sneakers that have retro looks has been rising. Fila clothing is getting a lot of attention and creating a new style for sportswear. The sneakers of Fila, Disruptor, which were an enormous success in the 90s are becoming the most sought-after women’s shoes of the year 2018. The tops of Fila are the most popular. Fila brands are by far the best popular segment for the label.
The company focused on a large portion of its business in the sports shoe segment and has to now invest in the expanding portion of the apparel industry. The motorsports industry has a lot of opportunities in India and it is essential to create products and designs to cater to India. Indian market.
2.) More advertising
The brand must advertise more frequently to improve its brand’s image and visibility. It’s apparent that the company isn’t involved in traditional media such as print and television, however, it is investing in digital channels. But, competitors are investing huge sums in their advertisements, which is resulting in the development of an enduring community of customers.
Nike in their commercials sell more shoes than they do in their ads and they don’t mention the product, however, they tell a compelling story that connects the brand to higher performance and better quality. Fila India’s CEO Fila India plans to create an appealing brand image and hopes to link Fila with movement and not performance.
Threats of Fila – SWOT analysis of Fila
1.) Brand Presence
It has been in existence for quite a while however it needs to work to improve its image. It’s not quite as competitive in its marketing and promotion strategies as Addidas and Nike which are well-established in this regard.
Fila requires out-of-the-box strategies in case it is focused on the digital platform to advertise. Fila has a strong social media community, but there is lots of work to do before it is able to compete with its rivals. Brands are emerging with more effective strategies to boost brand recognition and Fila could be diluted by the market. The accessibility of the brand is not a concern, however, establishing an identity for the brand in the highly competitive sports market is not an easy task.
2.) Trends are changing
To stay ahead of those of the younger age group and be appealing to them is among the most challenging aspects for brands. Fila should consider collaborations with influencers as well as Content marketing strategies to remain current in the minds of the young people.
The fashions are constantly changing It is hard to stay ahead and make products that are appealing to the millennials, whose tastes are constantly changing. It is important to connect with the customers and provide them with experiences that are brand-related. Fila relies on its past when it revamps its old products and brings them to the market. The brands that have their roots in the past usually be less popular. The brand must balance the present, past as well as future.
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