Identifying the factors affecting the cobranding decisions made among Sri Lankan fashion brands

Abstract

"Brands have been collaborating over a decade. In dynamic competitive markets and complex environments businesses are always exploring nonconventional, innovative branding approaches to cater to overcharging marketplaces as well as increasing demand of consumers. Co-branding can be further briefly summarized as synergism of brands, with the intention of responding to fast changing marketplace is a widely practiced method. Co-branding is widely discussed as a brand alliance strategy. Sri Lanka is inclusive with globally recognized fashion designers and brands which can conduct successful co-branding practices, yet no evidence of successful cobranding examples known in Sri Lanka. The aim of this study focuses on identifying the factors affecting co-branding decision made among Sri-Lankan fashion brands. This research will provide insights of a powerful recommendation system based on data analytics. A comprehensive model was built to understand the robust factors an organization consider when forming a brand collaboration strategy. As an Interpretivism (philosophy), inductive (approach) study. The strategy of this research can be defined as case study and the choice is mono method qualitative. Semi structured interviews for 10 fashion experts who are experienced in co-branding practices were conducted to obtain primary data. This research explores the art and science between Co-branding and fashion industry. Based on the primary data findings and supported with secondary research, conceptual framework is constructed on four main variables. The findings of the research unveiled those four major factors are considered by brands to form a brand alliance. Furthermore, based on the current research findings, an inclusive insightful set of recommendations are offered for local fashion brands and future researchers. "