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Maygel Coronel
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Maygel Coronel is an award-winning designer and brand focused on luxury women's brand based in Colombia. Recognized for its elegant designs and trend-setting style, Maygel Coronel had taken on the world by storm as an aesthetic vision set out to celebrate global, Latin and contemporary women by offering them sleek, streamlined and modern pieces that “melt” and blend into their skins.
— Paid Media— Performance Creative and Production Consultation
— Financial Projections & Analytics
The Situation
Despite possessing a unique fashion aesthetic, success with retailers, and being a renown within the emerging designer community, Maygel Coronel was facing difficulties in exploiting the full potential of its brand via awareness to its ideal customer in it’s direct to consumer channel. The brand wanted to be able to directly control its success via direct to consumer, but struggled to drive consistent high-performance that could allow the business to maintain positive cash flow while increasing revenue.
Achieving sustainable scale via planning, creative testing, and fashion specific expertise.
Working through the initial growing pains of a brand that was looking to establish its footing in many different channels, we noticed the potential of the brand immediately. There was an inspiring bold approach and a relentless passion towards creating the most beautiful experience for its customers, from creative investment all the way through the product. Additionally, there was a commitment to developing a high quality product that was anti-fast fashion.As a result, we knew that we could develop a brand that was disruptive and class-leading.
Through thoughtful planning, VEICOLO was able to develop a strategy that allowed Maygel Coronel to lean into its creative and branding powers, but still able to drive interest to a new customer via content that was effective at driving efficient results. There was limited resources for the brand, and it crucial to be very effective in every dollar investment, from creative to ad spend.
Through thoughtful planning, VEICOLO was able to develop a strategy that allowed Maygel Coronel to lean into its creative and branding powers, but still able to drive interest to a new customer via content that was effective at driving efficient results. There was limited resources for the brand, and it crucial to be very effective in every dollar investment, from creative to ad spend.
Revenue
304% MoM
ROAS
4.88X
Customer Acquistion Cost
-23% vs. LY
How we did it—
Phase 1: Clear Financial and Marketing Expectations
Maygel Coronel was able to understand based the current LTV, what levels of Customer Acquisition Costs allowed us to scale.
With a clear idea of volume of sales, the business was able to plan inventory that could support the levels of scale we planned for.
Phase 2: Testing Framework to Identify Meaningful Metric Movers
Utilizing Meta ads, we were able to action on a hybrid scaling and testing structure that identified the hero products that customers resonated and to double-down on what works. Understanding that for many apparel brands, there are key products that drive the primary interest of customers, we were able to find 5 products and product categories that were able to be expanded upon, leading to rapid scale.
Phase 3: Scale and Management
Once we identified the Meta Ads and Content strategy that was able to sustain a reasonable volume of performance efficiently, we doubled down on what was working by increasing budget towards winning tactics.
To support our increased volume, we established a content production strategy that was rooted in growth. Key products and formats were maximized with more volume in content production for current and future collections, allowing us to drive additional volume to the factors that drove the business forward.
Financial projections and progress were re-evaluated every month, identifying and understanding exactly what drove growth, which allowed the brand to be quick on it's feet with adjustments to allow for positive cash-flow month over month.
To support our increased volume, we established a content production strategy that was rooted in growth. Key products and formats were maximized with more volume in content production for current and future collections, allowing us to drive additional volume to the factors that drove the business forward.
Financial projections and progress were re-evaluated every month, identifying and understanding exactly what drove growth, which allowed the brand to be quick on it's feet with adjustments to allow for positive cash-flow month over month.
"Working with VEICOLO, we were able to create a top-down strategy that allowed us to grow when the business was ready. So far, 2024 has been a very successful year and we're looking forward to what VEICOLO can help us with in the future."
Lucio De Vincentiis
CEO of Maygel Coronel
Results
Maygel Coronel was able to drive revenue levels that far exceeded initial projections. With clear benchmarks that were established in the US, the brand is proceeding into additional testing for scale in other regions, including the EU and Australia.
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