Company: Core Spirit, London, UK
Entry Submitted By: Awards Intelligence
Company Description: Founded in 2007,Core Spirit (CS) designs, manufactures and distributes high-quality fashion to 20-35 year olds. Instead of employing the conventional demographic data used by competitors, CS is convinced that activity-driven profiling is far more relevant and effective and therefore delivers substantial long term commercial benefits, especially by expanding its customer pool.
Nomination Category: Company/Organization Categories
Nomination Sub Category: Best New Company of the Year

Nomination Title: Core Spirit

   1. Tell the story about what this nominated company achieved (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:

          Background:
          The luxury end of the fashion industry is surprisingly undifferentiated given
          the sheer number of brands on the market. Founded in 2007, based in London and
          employing 10 people, Core Spirit (CS) designs, manufactures and distributes
          high-quality fashion to 20-35 year old females and males.

          ‘Party People’:
          CS is transforming stereotypical customer targeting. Instead of employing the
          conventional demographic data used by competitors, CS is convinced that
          activity-driven profiling is far more relevant and effective. Crucially, CS
          believes its very different perspective will deliver substantial long term
          commercial benefits, especially by expanding its customer pool.        
          CS has defined its main target audience as ‘Party People’. Conventional
          analysis would categorise this group as ‘20-35 year-old single young
          professionals with above-average disposable incomes’. However CS places far
          less weight on what they ‘are’ – be that the flat they live in, the car they
          drive or the job they do – than what they ‘do’.  CS believes this audience is
          far better defined by lifestyle choices and social activities than by
          straightforward demographics.  Going out and the purchase of new clothes and
          accessories are viewed as life’s absolute necessities and even in the current
          challenging economic climate these are the last things they’re prepared to cut
          back on.

          Market positioning:
          Defining it audience in this way has given CS a unique opportunity to deliver
          a ‘mass market luxury’ proposition.  This focus on a wider audience for luxury
          fashion, combined with the (surprisingly!) rare combination of having
          distribution knowledge and expertise which matches its design strengths,
          delivers another big advantage: price.  In turn this has the benefits of
          attracting a wider potential audience and CS’s experience is that it has
          created a ‘virtuous circle’ in building brand awareness and increasing sales. 

          Key 2008 achievements:
          Having successfully tested its collections in Russia, Greece, Hong Kong and the
          Middle East, 2008 was the year when CS made the transition from ‘new kid on the
          block’ to serious emerging player. CS launched its range into Belgium, Italy,
          Portugal and Japan and its clothes were worn by celebrities including Bruce
          Willis, Callum Best, Keisha from ‘The Sugababes’ and Natasha Bedingfield.
          Perhaps most significant of all for CS’s long-term development was the
          successful switch of all production from Far East factories to Italy. This bold
          and, in many ways, counter-intuitive move is expected to be of immense long-
          term importance for several reasons:
          -    A meaningful quality edge over competitors
          -    A dramatic decrease in CS’s eco-footprint – something we believe will
          continue to grow in importance in the way consumers perceive  brands 
          -    Even within the higher-cost Italian production environment CS has
          managed to negotiate terms which allow a price advantage over rivals while
          still building a sustainable, profitable business.

          Looking ahead:
          2009 promises to be another big year for CS with the launch of a Harrods
          concession. Further ahead, CS is planning a flagship boutique in London’s
          famous Bond Street, a branded bar /night club, sites in Moscow & Dubai and sub-
          collections including sunglasses, footwear, luggage, kidswear and perfume. 

   2. List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:

          http://www.corespirit.co.uk/life-style/celebs/celebs.html  - Link to
          celebrities wearing the Core Spirit range in 2008

   3. Provide a brief (up to 100 words) biography about the leader of this nominated company:

          Nelli Mackenzie, Managing Director and owner of Core Spirit:

          Born in Russia, Nelli is a graduate of Moscow’s Plekhanov University, where she
          obtained MAs in both Economics and Information Systems in Economics. 

          From 2003-2004, Nelli was Marketing Director of a Moscow-based publisher. In
          2004, she was promoted within the same shareholder group to Commercial &
          Marketing Director for their real estate interests. In 2005, she became
          Marketing Director of a new rail-car leasing company.

          In 2005, Nelli completed the Emerging Leaders Program at London Business
          School. In 2006 she moved with her family to London in 2006 and developed the
          business plans that became Core Spirit in 2007.