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Spieth & Wensky, based in Obernzell near Passau, is a leading full-range provider of traditional fashion. Its core business is the development, production, and marketing of traditional fashion and shoes, primarily for a younger target group. The products are sold mainly through specialist traditional-fashion retailers, which is the most important distribution channel. <\/p>\n\n
The maconda team supported Odewald KMU with the Commercial Due Diligence. Within a short period of time, we evaluated the specific niche market for traditional fashion, including Spieth & Wensky\u2019s positioning in the competitive landscape. A particular challenge was to accurately assess the key market and demand drivers as well as the retail structure for traditional fashion in the core region \u2013 reliable market data was not available. Drawing on experience from a large number of engagements, including in niche markets that are typically difficult to capture via statistics and similar sources, maconda nevertheless succeeded \u2013 above all through more than 90 exploratory and structured market interviews with specialist retailers and manufacturers of traditional fashion, traditional costume associations and clubs, as well as other market experts. In addition, more than 20 traditional-fashion retailers and traditional-fashion departments in clothing stores were visited.<\/p>\n\n
New trends, increasing specialisation in many industries, and technological progress are constantly creating new niches. Some disappear just as quickly, while others persist for decades or develop into mass markets. Defending these \u2013 mostly very attractive \u2013 niches against potential new competitors and achieving further sustainable growth, despite the smaller market size compared to the mass market, are the greatest challenges for a niche provider. In particular, a niche provider must safeguard in good time against the risk that, as its niche grows, large, well-funded competitors suddenly enter the market because the niche is gradually becoming attractive to them as well. <\/p>\n\n
A prerequisite for sustainable success is, among other things, a precise understanding of and response to customer needs, whose ongoing demand is what makes a niche possible in the first place. This includes designing and continuously developing a suitable product portfolio, selecting the right pricing \u2013 e.g., using modern methods such as conjoint measurement \u2013 and targeted, often selective distribution. This keeps you one step ahead of the usually few existing and future competitors. <\/p>\n\n