PROBLEM STATEMENT
Repositioning a traditional brand.
The leather industry in Colombia has seen a decrease of 6.1% in production and 1% in sales. With the increase of fast fashion consumption and a bigger presence of imported products and slow economic growth of just 1.4% in Colombia during 2017, SMEs were heavily impacted.
Wincom (a leather care products company) was struggling to keep up its presence and competitive advantage against its competitors. The company lacked design strategy, customer experience, and understanding of itself as a service in its competitive environment.
STRATEGY DEFINITION
Understanding the market and the company's role.
A primary and secondary research plan was structured to discover the problems that the company was facing with its business partners, including the biggest leather products and accessories producer in the country and end-users.
A series of workshops with key internal stakeholders were conducted to co-create a fitting customer experience strategy involving every department of the company. Once the information was synthesized, plans were shared with strategic partners to increase rapport and involve them in the market acceleration efforts.
WORK EXECUTION
Strengthening strategic partnerships.
Based on three key opportunity areas, the team defined a plan encompassing the overall understanding of the business strategy, brand/customer experience revamping, and category development.
Strengthening corporate relations was set in motion through workshops, digital presence, training, and offering support for own private brand development. Best practices to monitor trends and competitors supported by internal communication channels were established.
Their main brand, Wincom Shoe-care was redesigned to help consolidation as a premium product, while a new segment for a cheaper brand was found, helping the diversification of their market.
