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Marketing Research of Storage Technology Corporation

Marketing Research of Storage Technology Corporation

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Marketing Research of Storage Technology Corporation
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Netra Shetty
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Marketing Research of Storage Technology Corporation - April 8th, 2011

Storage Technology Corporation (StorageTek or STK), aka STC until about 1983, is a data storage technology company. Current StorageTek products focus on tape backup equipment and software to manage storage systems. New products include data retention systems, which they call information lifecycle management, or ILM. Competitors include EMC and Veritas.[1] Now a subsidiary of Sun Microsystems, Inc. and referred to as Sun StorageTek, StorageTek was headquartered in Louisville, Colorado, United States with manufacturing facilities in Ponce, Puerto Rico.

Market Segments
Girl’s wear was the largest segment in 2005 with EUR 2.7 billion in sales accounting for 45.9% of sales within the children’s wear industry and representing a 1.4% growth rate. Boy’s wear decreased by 4.4% over the review period. Boy’s wear had a market share of 29.3%, equaling about EUR 1.7billion in sales. Girl’s wear experienced the most dynamic growth in 2005 , due to rising brand consciousness at a younger age. Baby wear was the smallest segment with a 24.7% share worth EUR 1.5 billion. The decline of 2.3% in this segment was due to more young parents buying secondhand clothes or receiving used clothes from friends and family. Healthy growth occurred in the underwear and nightwear segments , which are still dominated by strong traditional brand names such as Schiesser and Santex.

Share of Market
The dominant company in the children’s wear market is Hucke AG, with a share of 2.6%. The company generates approximately 12% of its sales with children’s wear. Sanetta Textilwerk Gebrüder Amman GmbH & Co.KG, the market leader in children’s underwear and sleepwear, was in second place with a share of 1.1%. The Santex Moden GmbH held its third place with a market share of around 1% and saw the importance of its brands growing. Private labels such as TCM, owned by the coffee chain Tchibo, and those of discount chains Aldi, Lidl and Plus are estimated to have a share of 8% of the market for children’s clothing. Special chains offering bargain prices for their own labels in their outlets are making an impact on this market with regular cyclical special offers in children’s wear. At the opposite end of the spectrum, premium brands such as Hilfiger, Timberland and sports labels Nike and Adidas are still doing business in the young market, although the premium range “Joop! Kids” closed production in June 2004 due to lack of demand.

Marketing Activity
Total spending for children’s wear advertising in 2005 was EUR 22.3 million, which is 10% of the textile producers advertising budget. Consumer magazines took in EUR 8.8 million of the money companies spenton advertising, followed by television with EUR2.8 million. Poster advertising worth EUR 4.2 million, and flyers and free advertising magazines worth EUR0.6 million, managed to markedly increase their popularity as advertising media. Clothing companies rank only at place 25 in advertising budget rankings of different industries, with an overall budget total of EUR 226.7 million in 2005. Sanetta currently runs a marketing campaign with its trade partners for the baby wear label Sunshine Body. Parents of newborns receive a welcome parcel with a Sanetta voucher for EUR5 to buy garments that do not cause skin irritation. The textile discount chain, Kik Textilien & Nonfood GmbH, is currently marketing its wares with a high profile national campaign on TV.

Corporate Overview
This market is extremely fragmented with the top six companies holding only about a 6 % share of the market . Many of the companies are family-run LLC’s that do not publish results. The market for children’s wear, like those of other consumer goods, has been strongly affected by the general economic conditions, but in particular by the crisis of its most important outlet, KarstadtQuelle. The stagnation of the German economy has driven large numbers of small and medium companies into bankruptcy, among them in late 2003, the traditional children’s wear company Hummelsheim. Some companies have addressed market decline through a process of consolidation. One example is Sanetta Textilwerk whose subsidiary Boki Company Gebrüder Amman GmbH, acquired the license for Bodywear from the Betty Barclay lifestyle brand. Children’s and teenage wear from big fashion and sports labels were doing well, thanks to extensive marketing and spin-offs from the adult market. Competition from cheap foreign manufacturers and the trend towards discount shopping in Germany is eroding the strongly quality based industry.

Sanetta Textilwerk Gebrüder Amman GmbH & Co.KG
Sanetta Textilwerk Gebrüder Amman GmbH & Co.KG increased its sales by 9.1% in 2004 to EUR 63.5 million. The company employs 1,000 people; information on revenues was unavailable. The owner-run company is currently the largest specialist children’s wear manufacturer in Germany with its labels Down Over (formerly Match), Boki, and DoppelMoppel. Licenses held by Sanetta include the trend label Marc’O Polo, Tabaluga, and Betty Barclay. The company also has a cooperative agreement with organic baby food producer Hipp. The company runs various stores throughout Europe including 160 shop-in-shops, 2 franchise stores and 2 of its own brand Sanetta stores.

Hucke AG
Hucke AG increased its sales by 3.7% in 2003/2004 to EUR 154.2 million, with a decline in revenues to EUR 3.7 million. The results of the first half-year of 2004/2005 were EUR70.6 million and pre-tax losses of EUR 2.5 million. Hucke AG’s important export business was not affected by Germany’s structural problems. The percentage of exports in terms of sales increased from 49.8% in 2003 to 52.2% in 2004. In the children's outerwear sector, sales dropped to around EUR 17 million in 2003/04; a decrease from EUR 22 million in the previous year. This business sector has been consolidated and improved by the restructuring of the Whoopi brand segments and the Steiff and More & More licenses. The new More & More Kids & Teens licenses have generated new impulses for growth and incentives to buy. Serious problems during 2004 in the department store chain KarstadtQuelle, one of the most important Hucke sales channels, have affected the current value and volume of business of Hucke AG negatively.

Last edited by netrashetty; April 8th, 2011 at 04:18 PM..
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