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Final Project

Merchandising: Concept to Consumer

Adriana Zemel  


Table of Contents About Vince …………………………………………………………………………………….4 Mission Statement ………………………………………………………………………….…..5 Philosophy ……………………………………………………………………………………...6 Consumer’s profile ………………………………………………………………….…………..7 A day in the life…………………..……………………………………………….……………. .9 Why customers like Vince…...…………………………………………………………………. 10 Mood Board ……………………………………………………………………………………11 The Plan ………………………………………………………………………………………..12 Specific Target ………………………………………………………………………………….13 Product Assortment …………………………………………………………………………….14 Classification System …………………………………………………………………...………15 Model Sheet and Cost Sheet …………………………………………………………………....16

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Table of Contents Development Calendar ……………………………………………….……………………….24 Unit Distribution Plan ………………………………………………….……………………. ..25 Regular Floor Plan …………………………….……………………………….…………. …..26 Introduction Floor Plan ………………………………………………………….……………..27 Key Code Sheets ……………………………………………….………………………...…….28 Fixture Worksheets ………………………………………….….……………………...………29 Maintenance Floor Plan ……………………………………………………….…..…………...33 Clearance Floor Plan ……………………………………………………...……………………33 Marketing Budget ……………………………………………………………...………......... 34 Marketing Objective (1) ………………………………………………………………………. 35 Marketing Objective (2) ………………………………………………………………………. 36 Marketing Objective (3) ………………………………………………………………………. 37

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Table of Contents Marketing Objective (4) …………………………………………………………………….…. 38 Marketing Plan Calendar ……………………………………………………………….………39 Press Kit ……………….………………….…………………………………………………….41 - Press Release ……………………………………………………………… …………... 42 - Company Biography ……………………………………………………… ………….... 43 - Business Card ……………………………………………………………….…................44 - Product Line ……………………………………………………………………................45

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About Vince ØFounded in 2002 in Los Angeles by Rea Laccone and Christopher LaPolice; ØVince can be found in more than 2,500 stores around the world; ØThe brand is not only a wholesale, but also retail, since also operates with 32 full-price retail stores, their own e-commerce, and 12 outlet stores. However, it is important to understand that part of the brand’s strategy is to focus mainly in department stores; ØThe brand, with it accessibly-prices luxury basics, presents a Manhattan style, with outfits with more neutral colors, such as black, brown, white, grey, and beige; Ø Offering clothes for both men and women, and also accessories, such as shoes and handbags, Vince became famous for their cashmere hoodies, sweaters, and leather jackets. 4


Mission Statement

The ultimate brand for everyday luxury essentials. Effortless Style. Iconic Essentials. Modern Luxury.

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Philosophy At Vince, we work with the best fabrics and designs in order to provide our customers a modern and iconic wardrobe. We want them to feel powerful, confident and comfortable, all at the same time. We offer great garments, with the perfect cut. We want it to be easy to wear, providing our clients with an essential and easy-to-wear product that can offer them effortless style with a touch of luxury. Now, Vince wants to give a new step and offer not only luxury and elegant garments, but essential accessories that will complete our male customer’s style, but still by offering the best product, with the best material, and an iconic look. Products will be launched on selected Chicago and New York stores on Fall 2017 until Spring 2018.

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Consumer’s Profile Geographic

Demographic

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Consumer Behavior


Consumer’s Profile Psychographic

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A day in the life A day in Tripp’s life… Age: 29 years old Profession: Lawyer Friday: 7am: Tripp wakes up and go take a shower and get ready to work. 7:40am: She prepares himself some latte from the Nespresso Machine, and also makes a toast with whole grain bread. 7:55am: Before leaving to work, he gets a yogurt for his morning snack. 8:30am: After walking, he arrives at work. Tripp is a lawyer at a big firm. 12:15pm: He leaves for lunch. But because on Fridays Tripp normally tries to leave a bit early, he just grab a sandwich to eat at his table. 3h30pm: During the afternoon, he messages some friends to decide where they are going for Happy Hour after work. 7pm: Time to leave the office. While in the elevator, he’s already asking for his Uber Pool. Final address: Siena Tavern. 7:35pm: He arrives at the restaurant to meet with some friends. However, he won’t stay until very late because tomorrow he’ll go for a run by the lake. 9


Why customers like Vince? ØQuality of products; ØBasic and easy to wear; ØPossibility to wear with everything; ØDon’t present strong colors, and neither patterns; ØGarments present nice cuts. 10


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The Plan

Develop Vince’s line of bags for men. 12


Specific Target:

ü Male; ü College or Young Professional; ü Age 18-30; ü Not at all price conscious.

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Product Assortment Classification Men’s accessory Bags Travel Bag Backpack

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(Classification)

(Sub-classification)


Classification System

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Model Sheet Travel Bag:

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Cost Sheet

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Model Sheet Travel Bag:

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Cost Sheet

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Model Sheet Back Pack:

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Cost Sheet

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Model Sheet Back Pack:

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Cost Sheet

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Development Calendar

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Unit Distribution Plan

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Regular Floor Plan

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Intro Floor Plan

BEGINNING ON  HAND:  168 SALES:  109 ENDING  ON  HANDS:59

AC

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AD


Key Code Sheets

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* One  exposed  and  the  others  inside  the  furniture  (stock))

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Fixture Worksheets

Cabinet with six drawers – size 45H x 60W x 18D This furniture will be used to expose bags on top of it and also as stock, since it has a good number of drawers. Capacity: four bags on top and between 14/15 in each drawer. Fixture Code: B

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Fixture Worksheets

Cabinet with one big drawer– size 20H x 45W x 25D This furniture will be used to expose bags on top of it and also as stock, since it has a very big drawer. Capacity: four bags on top and 68 in the drawer. Fixture Code: C

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Fixture Worksheets

Mannequin The mannequins will be located in different parts of the store, with bags hanging on it. Capacity: one bag for mannequin Fixture Code: AA, AB, AC, AD

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Maintenance Floor Plan

BEGINNING ON  HAND:  59 SALES:  32 ENDING  ON  HANDS:  27

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Clearance Floor Plan

BEGINNING ON  HAND:  27 SALES:  17 ENDING  ON  HANDS:  10

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Marketing Budget Total Retail Sales: $ 92,280.00 11% used for Marketing budget

Marketing Budget: $ 10,150.00

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Marketing Objective (1) Increase male followers on Instagram by 8% until November 2017 Strategy: Work with lifestyle influencers with the goal to reach Vince’s target market and increase the number of male followers. Create promotion offering one of the new bags for those who start following influencer, Vince and tag three friends on official promotion photo. Tactics: Determine profile of our target market Research influencers that connects with our public Get in contact and negotiate deal Decide two influencers to work with Develop promotion to be share with influencers Send final material to influencers Separate product that will be send to winners Evaluation Method: To evaluate the campaign the Social Media manager will follow the increase of followers our Instagram profile got, comparing before and after the strategy started. The evaluation will be done until middle of November.

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Marketing Objective (2) During the month of August, attract foot traffic of one thousand people to store. Strategy: In order to achieve this goal, we will offer a cocktail in the store to present our new accessories collection. The cocktail will be held on the first two weekends, and there will be DJ and drinks. Tactics: Develop invitation for the event Create an event on Facebook Send invitation by email to our list of clients Budget and negotiate with DJ Budget and negotiate with bartender and waiters Separate an Ipad to collect e-mails Decide one person to be in charge of collection the e-mails Organize store for event day Evaluation Method: To evaluate the campaign, by September 15, 2017 the marketing manager will count how many e-mails were collected from customers that visited the store during the month of August.

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Marketing Objective (3) Increase in-store sales in the male department by 15% until December 2017

Strategy: Together with our catalogs, discount coupons will be distributed for in-store shopping. Besides the catalogs, the coupons will be also sent by email. Tactics: Develop coupon with 10% discount Print coupons Insert material in the catalogues Create also an online version of the coupon From out database, select customers that will receive coupon by email Send emails Evaluation Method: The campaign evaluation will happen taking into consideration the sales number before and after the distribution of the coupon that will help us to track the success of the material. Also, to facilitate, all coupons will present a barre code so it will be easier to track all purchases that used the discount coupon. Evaluation will be done by December 20, 2017.

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Marketing Objective (4) To create awareness about Vince new accessories line by 25% of our target market until December 2017. Strategy: Develop catalog presenting new line to distribute by mail to target market. We will provide and e-mail so everybody interested on the new accessories can send an email to receive more news about the new line and a special discount. Tactics: Decide the catalog’s theme Hire production team, models, and photographer Decide shooting location Negotiate and close team, location, and day Choose models’ outfit Select photos and finalize the catalog’s layout Print material Research and define customers and prospects that will receive the catalog Send catalog to customers and prospects Evaluation Method: The retail manager will evaluate the campaign until January 15, 2018 by taking into consideration the store and e-commerce flow. To evaluate if the strategy worked, the person in charge will calculate the number of e-mails we got and also the number of sales. 38


Marketing Plan: Calendar

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Marketing Plan: Evaluation Timeframe

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Press  Kit

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Press Release

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Company Biography VINCE is a leading contemporary fashion brand best known for modern effortless style and everyday luxury essentials. Established in 2002 in Los Angeles, by Rea Laccone and Christopher LaPolice, the brand now offers a wide range of women's, men's and children's apparel, women's and men's footwear, and handbags. Vince products are sold in prestige distribution worldwide, including over 2,500 distribution locations across 42 countries. With corporate headquarters in New York and its design studio in Los Angeles, the Company operates 32 full-price retail stores, 12 outlet stores and its ecommerce site. Offering clothes for both men and women, and also accessories, such as shoes and handbags, Vince became famous for their cashmere hoodies, sweaters and leather jackets. According to Jill Granoff, chief executive of Vince, “the fundamental premise was to create a collection of iconic essentials that women would want to wear everyday — and I have to say, everyday is really key to the equation.” Since 2013, Vince, part of Sun Capital Partners Inc., is a public company, listed on the New York Stock Exchange. !

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Business Card

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Product Line Travel Bag:

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Product Line Travel Bag:

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Product Line Back Pack:

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Product Line Back Pack:

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