Ann Taylor Essay

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Ann Taylor: Survival in Specialty Retail Company Name: Ann Taylor Topic of the Week: Strategic Control Systems Synopsis of the Situation An upscale wardrobe for women was founded in 1954 by Robert Liebeskind called Anne Taylor. The line first went public in 1991 on the New York Stock Exchange under the symbol ANN. For a short period of time they had added mail catalog, perfume line, and shoes to their Ann Taylor stores, however, the mail catalog only lasted until 1995. The same year LOFT was created to target the younger generation. By 1999 the LOFT line was became controlled by Kay Krill. Ann Taylor even tried a cosmetic line for a year from 2000-2001. Krill went from being promoted to the LOFT line to becoming the president of the entire ANN Corporation in 2004. Then while under her control LOFT line 1 billion dollars by the year 2005. When the company moved to Times Square Tower in 2005 Patrick Spainhour the chairman and CEO retired and Kay Krill took on that position as the CEO. By 2008 Ann Taylor faced and increase in competition and a challenging economic environment. Alternative Solutions 1. When it comes to the alternative solutions Krill should concentrate more on the LOFT line seeing as it has become more popular than the original ANN line. In turn it would not have to be differentiate clothes styles. 2. Another alternative solution is to join with other major retailers with similar ideas. The reason is that it will not only help Ann …show more content…

(2013). Strategic Management: Planning for Domestic & Global Competition 13th Ed. New York: McGraw-Hill Appendix Figure 1. SWOT Analysis based upon the topic of the week for the company case. Strengths 1. Pacific style that is styled for the working woman 2. Products are unique 3. Weaknesses 1. Markets only the upper class 2. Prices are high 3. younger clients not interested Opportunities 1 To expand internationally 2. Target the lower class

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