The fashion and luxury sector has always been one of the most important pillars of the global economy, characterized by constantly evolving trends and market dynamics, as well as intense competition. Indeed, in recent decades this sector has grown at an unprecedented pace, requiring brands to be increasingly dynamic and innovative to keep up with changes and meet the needs of emerging consumers, especially younger generations, at the same time maintaining their competitiveness. The Maisons must balance the defence of their identity, history, and tradition with innovation, novelty and forward-thinking, facing disruptive challenges to reconcile luxury with everyday life, all while satisfying strong demand without compromising their brand's uniqueness and exclusivity.
This research focused on the analysis of the recent corporate crisis of the Trussardi brand, with the goal of identifying effective repositioning strategies to relaunch the brand in the highly competitive context such as fashion and luxury, considering new consumer needs and market evolution. The first step was defining the key questions for analysis, grouped into four main areas, forming the basis for the development of the study. The initial phase involved examining the sector’s structure, followed by analyzing consumer preferences and brand perception in order to identify potential strategies and managerial actions to implement.
After analyzing the luxury market trend, the study focused on personal luxury goods, which, after a significant contraction in 2020 showed steady growth reaching a total of €362 billion in 2023. Despite Trussardi being a historic italian brand, a symbol of elegance and quality in both the italian and international fashion scene, not only did it fail to follow the market trend but it continued to lose ground risking bankruptcy. In his rescue the Miroglio Group intervened in March 2024 with the acquisition of Trussardi in the hope of bringing back the greyhound brand to its former glory.
To understand the perception of the Trussardi brand and identify factors that may have contributed to its decline, two types of analysis were conducted.
Through qualitative analysis, based on semi-structured interviews, it emerged that despite the strong perception of high-quality craftsmanship, the brand has lost part of its exclusivity and innovation, offering a less distinctive product line that has become more accessible but less desirable, especially to younger consumers, the target generational segment for the immediate future.
For the quantitative analysis, a questionnaire was distributed to approximately 400 people, resulting in a valid sample of 277 respondents after appropriate screening.
As can be seen, the sample is predominantly female and mostly belongs to Generation Z. The respondents mainly reside in Northern Italy and prefer to purchase luxury items in physical stores rather than online, limiting their annual expenditure. It also emerged that, in terms of personal luxury goods, clothing is the preferred category and the key drivers influencing purchasing decisions are quality, price and personal gratification.
The top-of-mind brands for participants are Gucci, Armani, and Prada. Trussardi’s absence from this ranking indicates its low relevance in consumer perception compared to its competitors. However, through the guided analysis it was found that 97% knew the brand, especially for the apparel and bag categories, but only 30% own a Trussardi product, suggesting a gap between awareness and actual adoption as well as a market penetration problem. The most appreciated aspects of Trussardi are its quality, craftsmanship and the "Made in Italy" label but overall satisfaction with its products scored an average of 6,63 out of 9, highlighting the need for improvement, especially in terms of innovation.
Following the preliminary sample study, a factor analysis was conducted, allowing for the extraction of 5 macro-variables from an initial set of 15 drivers. These include brand aura, excellence and tradition, innovative originality, personal gratification, and price, subsequently used as inputs for the cluster analysis.
Through cluster analysis, which segments consumers to better understand different consumer groups, three representative clusters were identified in the sample:
The vain who tend to be consumers influenced by appearances and social status, seeking recognized and visible brands.
The sophisticates who prefer a blend of craftsmanship and innovation, with attention to sustainability and tradition.
The hedonists who see luxury as personal gratification and appreciate exclusive shopping experiences.
Multiple linear regression revealed that the aspects most impacting overall satisfaction with Trussardi products are quality, personal gratification, and brand heritage. These represent the key areas where Trussardi should invest and further develop.
Using correspondence analysis, a brand positioning map was constructed to show how brands, represented in red, are positioned relative to the attributes associated by the sample. Trussardi is perceived as an accessible, artisanal and minimalist brand positioned in a lower price range compared to other exclusive brands. As it is less associated with innovation, remaining faithful to tradition, it appeals to a more mature clientele.
In light of the findings, several marketing strategies could be suggested for Trussardi’s repositioning.
Regarding the product, the brand should renew its offerings by combining tradition with current trends, for example, relaunching iconic products with new stylistic elements, without betraying the brand's historical identity. Additionally, collaborations and capsule collections could attract a younger audience.
A premium pricing strategy for limited collections could also support repositioning, while maintaining an accessible yet iconic line aimed at younger customers.
Another key lever is distribution. Creating experiential boutiques, pop-up stores in exclusive locations and enhancing e-commerce and artificial intelligence functionalities could improve customer engagement, offering an immersive experience, both online and offline.
Finally, the brand identity should be refreshed with storytelling that combines tradition and modernity. Collaborating with influencers and celebrities, as well as leveraging digital platforms like Instagram and TikTok, could improve the brand’s visibility among younger audiences, showing behind-the-scenes craftsmanship and product quality. Focusing on visibility at major runways, fashion events and in the media could also be a winning move to remain relevant with current luxury trends.
In conclusion, despite Trussardi being in a critical phase, a strategic approach that includes innovation, product diversification and a focus on customer experience could allow it to regain its position in the luxury fashion market. The key to success will be finding the right balance between tradition and innovation, preserving the brand’s heritage without neglecting new trends and modern consumer needs.
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