Take a thorough look at the corporate statements of fashion giant Zara and see how these statements have guided it toward success.
1. Introduction
The last decade had been quite eventful for Zara, a fashion retail brand born in Galicia, Spain. The company began as a small clothing shop in Arteixo, Spain. It was started by Amancio Ortega and Rosalia Mera and became a subsidiary of INDITEX, the biggest fashion retailer in the world that was also owned by the Ortega family. Zara has been in existence since 1975, but it was only in the last ten years that it ventured out into the international world of fashion retail.
Its global expansion happened quite fast, with new outlets launched practically every day. Today, Zara operates 2000+ stores in 88 countries. Many marketers want to know how Zara becomes successful, so they want to know Zara's mission and vision statement.
2. Zara Mission and Vision Statement Analysis in Mind Map
To fully appreciate how Zara has achieved the level of success that the brand has today, there needs to be a thorough understanding of Zara's mission and vision statements, as well as its core values, since these elements are the foundations of everything that the company does and stands for. Each part can be concluded in a word or one sentence. To better visualize these statements, it would be helpful to view them in a mind map, like the example below:
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Zara Mission and Vision Statement Analysis
3. Zara's Mission Statement
In brief, Zara's statement is "to give customers what they want, and get it to them faster than anyone else." An effective mission statement is something clear and concise, and Zara's mission statement definitely gets a check-in both these criteria. Quite interestingly, the simplicity and directness of the statement are an accurate reflection of why Zara has been so successful in the apparel industry.
Upon closer examination of the mission statement for Zara, we can see that there are two main components, including identifying market preferences and fast fashion strategy. Let's now analyze these components.
Identifying Market Preferences
Zara declares in the first part of its mission statement that it intends to give customers what they want, and Zara definitely means it. Other high fashion brands do not really make an effort to identify the preferences of the target market. This has actually been the culture in high fashion for decades. The designers simply come up with apparel that matches their own tastes and styles and expect that people will buy it simply because it is high fashion.
The approach of Zara is exactly the opposite. While Zara does have a strong team of designers with impeccable talent, it also listens carefully to what the customers want. Zara has a very interactive social media presence, and it utilizes this to reach out to its client base, communicating with it to get a feel of what the market is going to buy. Even in physical stores, Zara staff take note of what customers like and do not like. The information is relayed to the design team, who makes sure that the client's requests and suggestions are incorporated into the brand's next collections.
Fast Fashion Strategy
In the second part of the Zara mission statement, the company aims for the speedy delivery of the market's demand. In other words, it does not waste any time in its production process. On average, it takes only two weeks for the Zara team to complete a collection that includes 500 or so designs. This includes everything from design conceptualization to delivering the clothing to the stores. This is what is now known in the retail industry as the fast fashion strategy.
Related Topic:
Zara Segmentation, Targeting, and Positioning
4. Zara's Vision Statement
The Zara vision statement is "to contribute to the sustainable development of society and that of the environment with which we interact."
A company's vision statement reflects its long-term goals and how it sees itself in the distant future. Like its mission statement, the Zara vision statement is clear and concise, and it also reveals a side of the fashion brand that we don't easily see while we are buying its clothes. The statement shows how the company puts a priority on society and the environment more than it does on sales and profits.
Societal Development
Zara takes its corporate social responsibility very seriously. It is constantly involved in campaigns for the improvement of people's lives and actively supports programs that give back to the community. In the light of recent criticisms received by the fashion industry regarding the use of inappropriate labor practices in its third-world country facilities, brands like Zara are taking the extra effort to declare their support for societal development and sustainability.
Environmental Sustainability
The environment is also very important to the Zara brand. It is quite known for its active stance in environmental campaigns. It has long denounced the use of plastic and does not include unnecessary labels on its clothing. Its manufacturing process is also completely toxic-free.
There are plenty of things that are important to Zara, but these are the core values that it has always used to guide it in making business decisions and in running its day-to-day operations.
Beauty
Being in the fashion industry, it only follows that there should be an appreciation and upholding of aesthetics in all aspects of the business and life in general.
Clarity
Clarity is very important in the fast-paced fashion industry. The clarity in communication, to be precise, is something that Zara upholds, both in the company and out in public.
Functionality
In all its products, Zara sticks to a high standard of functionality. It may be high fashion, but its clothes are totally wearable and not only for the runway.
Sustainability
Zara fully supports sustainability in all aspects, and this can be seen from its Join Life collection and the increasing number of eco-stores that it has around the world.
Related Topic:
SWOT Analysis of Zara
6. Conclusion
The Zara mission and vision statements both meet the criteria that businesses follow for formulating their corporate goals. The two statements also complement each other perfectly and clearly indicate the path that Zara intends to take as one of the top companies in the retail fashion industry. If there were a company that you would like to emulate in terms of creating the mission and vision statements for your own business, Zara can be the ideal choice.
However, you would also have to incorporate your own goals and strategies in the creation of these statements. This can be a challenge, especially for new business owners, which is why tools like mind mapping software EdrawMind would really be of great help.
If you go to the EdrawMind website, you will easily see a large selection of templates that you can choose from so that you can create your own diagrams and charts to make your business planning process much simpler. It even has a pre-built template specifically for mission and vision statement analysis. By using this tool, you will be able to create better statements to keep you on the right track while running your business.
In brief, Zara's statement is "to give customers what they want, and get it to them faster than anyone else." An effective mission statement is something clear and concise, and Zara's mission statement definitely gets a check-in both these criteria.
The customer is at the heart of our unique business model, which includes design, production, distribution, and sales, through our extensive retail network. Zara has an ongoing commitment to its customers around the world in providing an excellent customer experience to all.
A Mission Statement is a definition of the company's business, who it serves, what it does, its objectives, and its approach to reaching those objectives. A Vision Statement is a description of the desired future state of the company. An effective vision inspires the team, showing them how success will look and feel.
Zara has set its core values to be guided by the principles of “beauty, clarity, functionality, and sustainability. These four principles guide the company in making comprehensive business decisions and even in the day-to-day running of the business. Zara is guided by the principle of beauty in the fashion industry.
What is a brand mission statement? A brand mission statement clearly communicates a brand's purpose, objectives and how it plans to serve its audience. It is action-oriented and gives readers an idea of what your business does and what impact it wants to make.
To become a global leader in the Fashion Design Courses, create an innovative and creative design as per customer satisfaction designs. To provide an environment to the students congenial for technical education and learning. To nurture graduates with creative, innovative, critical, and ethnic leadership skills.
Zara is an instant fashion brand that focuses on providing what buyers need faster than everyone else. Zara relentlessly tries to provide the best customer experience. Zara spends little in advertising but focuses on locations' uniqueness. Zara uses data to understand customers' insights and current trends.
ZARA (Spanish: [ˈθaɾa]) is a Spanish multi-national retail clothing chain. It specialises in fast fashion, and sells clothing, accessories, shoes, beauty products and perfumes.
It's comprised of three parts: what you do, how you do it, and why you do it. A vision statement outlines the company's long-term goals and aspirations for the future in terms of its long-term growth and impact on the world.
Mission statement: We strive to offer our customers the lowest possible prices, the best available selection, and the utmost convenience. Vision statement: To be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online.
A good answer to a question about your mission statement could sound like this: My personal mission statement is to continue to learn and grow in my abilities, utilizing my skills, training and personal character to thrive in any position I hold, while striving to advance in the company and contribute to its success.
Zara's highly responsive, vertically integrated supply chain enables the export of garments 24 hours, 365 days of the year, resulting in the shipping of new products to stores twice a week. After products are designed, they take around 10 to 15 days to reach the stores.
The origin of Zara's brand identity was delivered on the Inditex website. Zara had its origins in the name of Spanish founder Amancio Ortega . The founder of Zara started a clothing company in 1963 and opened his first clothing store, Zara, in 1975.
The mission statement provides the direction that is to be followed by the organization while the vision statement provides the goal (or the destination) to be reached by following the direction. It helps to properly align the resources of an organization towards achieving a successful future.
Purpose keeps you focused on why you exist, vision aligns you with your goal, and mission empowers how you will accomplish it. Done well, it will inspire and motivate you every day, and just might inspire your audience.
Mission statements describe an organization's reason for existence, vision statements describe the ideal state that the organization wants to achieve, and values statements list the principles that guide and direct the organization and its culture.
A mission statement is a representation of the organization where the company declares what it wants to achieve. A well-crafted mission statement is a belief that a business has in itself and a crucial step in your branding strategy. It may be a slogan, a single sentence statement, or a multi-sentenced statement.
The mission of the LVMH group is to represent the most refined qualities of Western "Art de Vivre" around the world. LVMH must continue to be synonymous with both elegance and creativity. Our products, and the cultural values they embody, blend tradition and innovation, and kindle dream and fantasy.
Zara is well known for its ability to be prompt in quickly delivering new clothes to their stores which are achieved by following a strict routine. Twice a week, at precise times, store managers order clothes, and twice a week, on schedule, new garments arrive.
Zara's strategy is to offer a higher number of available products than its competitors. While most clothing retailers manufacture and offer to the public for sale 2,000 to 4,000 different articles of clothing, Zara's production has been markedly higher, at over 10,000 pieces produced per year.
Zara is the biggest Spanish clothing retailer in the world based on sales value. Its success is due to its fast fashion strategy that is based on a strong supply chain and quick market feedback loops.
While most customers visit a fashion store four times a year (once per season), Zara's rapid turnover means customers eager to see new designs visit about 15 times a year — generating almost four times more traffic than the average store.
A vision statement should be concise – no longer than a sentence or two. You want your entire organization to be able to repeat it quickly and, more importantly, understand it. However, a vision statement must be more than a catchy tagline.
A mission statement defines the organization's business, its objectives, and how it will reach these objectives.A vision statement details where the organization aspires to go. Why does your company exist?
“Our vision is to create a better everyday life for many people.” That's aspirational, short and to the point. More than that, it sets the tone for the company and makes it clear that they're in the market to offer low-priced good furnishings that suit everyone's lifestyle.
Vision statement: To be Earth's most customer-centric company; to build a place where people can come to find and discover anything they might want to buy online. This statement communicates that Amazon wants to provide customers with anything they might want.
Zara's 4E approach is a modern take on the 4P's. It stands for experience, exchange, evangelism and everyplace. Experience for the customer, exchange with the customer, evangelism through the customer and being every place for the customer.
Zara´s reflection is about style, individualism and assurance. This refers to the reflection of the consumer of which the brand is the source of identification while Zara´s self-image is confident, trendy and unique. This is the way consumers should think about the brand.
However, the brand has recently faced three main challenges: e-commerce, competition and sustainability. To sustain its global expansion, the brand made a step toward digital expansion even before the pandemic hit, and it paid off. So far in 2020, Zara reports a 74% jump in online sales alone.
A mission statement is a representation of the organization where the company declares what it wants to achieve. A well-crafted mission statement is a belief that a business has in itself and a crucial step in your branding strategy.
To innovate, to lead, to enhance, to provide best-value products and services to global customers. To make a difference through our branding to stay ahead of fashion trends, market changes and the latest technology. To enhance the quality of life for our business partners,customers and employees.
The mission of the LVMH group is to represent the most refined qualities of Western "Art de Vivre" around the world. LVMH must continue to be synonymous with both elegance and creativity. Our products, and the cultural values they embody, blend tradition and innovation, and kindle dream and fantasy.
Mission statement: We strive to offer our customers the lowest possible prices, the best available selection, and the utmost convenience. Vision statement: To be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online.
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