Political:
After the UK decided to leave the EU, it has effected English companies. Due to this, trading will suffer. This will increase the price of shipping, which is making the price of the clothing increase. This will have a negative impact on the brand as it could discourage people from buying their garments. The loss of customers will affect how much money the company takes in each month. This then could result in job loss and the companies cannot afford to keep the staff members on.
Economic:
Due to Brexit, the value of the pound dropped very quickly. This has prevented people from shopping and spending more money. As Paul Smith is an expensive brand, customers are likely to shop in the cheaper shops that are similar to his to save money. For example, Ted Baker is a very similar brand to Paul Smith X Harry Styles but a shirt from Paul Smith X Harry Styles is £125, whereas Ted Baker is £85.
Social:
I will make Paul Smith X Harry Styles very convenient for the customer. I will do this by allowing the customer to buy online, so they can shop in the comfort of their own home. This will also benefit our sales as more people will shop with us as the collection can only be bought in the flagship stores. I will also offer a click and collect service so it is easier for the customers to pick up their deliveries. If they will not be at home to accept the order due to working this is the perfect option. I will offer home delivery so customers can receive the garments straight to their door. I will offer next day, standard, and next day weekend delivery. Customers can return the products using collect plus or via the post office which is pre-paid. I will have an app available for the customers to purchase straight from there phone.
Technological:
Paul Smith X Harry Styles will have separate accounts on social media to the original Paul Smith accounts. This is because it will make it easier for customers to see what is being sold in the collaboration. I will have accounts on Instagram, Twitter, Snapchat and Facebook. I will use Instagram to post pictures of the garments, concession and Harry in the clothing, I will also do live videos on Instagram and Facebook at the opening and launch