個案資料

Paul Hardy parlayed a degree in fashion and an early-career job as a personal shopper at high-end retailer Holt, Renfrew & Co., Limited (Holt Renfrew) into a successful career as a Canadian luxury-goods fashion designer. He was a survivor in the industry, adapting to various exogenous shocks, most recently COVID-19. The pandemic resulted in the cancellation of events and social gatherings at places where women typically wore his designs. In addition, Hardy’s online purchasing presence was minimal. His immediate response to the pandemic-related lockdowns was to enable online purchasing and highlight clothing that could be worn at home or on more informal and local excursions. His business success had been largely based on his talent and the relationships he had fostered and nurtured over the years. Hardy personally reached out to his clients and held a COVID-compliant fashion show. Once again, he was demonstrating his resilience in the face of significant challenges, but what should come next?<br><br>After the economic crisis of 2008, Hardy had expanded his business to interior design. Should he forego high-end fashion to focus on interiors? Was there a way to further pivot his fashion design given the changes in consumer demand? How would the world come out of the pandemic, and how could Hardy position himself to thrive? Would any change threaten relations with his loyal clientele? Given that his business was almost 20 years old, what should his short- and longer-term strategic plan entail?

This case can be used in strategic management, sustainability, or entrepreneurship courses or modules at the undergraduate or graduate level. The readings and questions below are aimed both at a strategy course and a sustainability course. In addition to strategic issues, students can consider the importance of more sustainable practices in the fashion industry and in consumption. After completing this case, students will be able to do the following:<ul><li>Apply a strategic management analysis.</li><li>Understand the challenges and opportunities of a highly differentiated strategy.</li><li>Understand how to adapt or pivot in response to external shocks.</li><li>Understand social shifts in consumer demand toward quality, local production, and artisanship.</li><li>Understand business models and the inherent tensions in the economic, environmental, and social implications of business strategies and leadership.</li></ul>

• sustainability, strategy, entrepreneur