STRATEGIC FASHION BUYING
Bungalow 8, Mumbai In Milan Anjini V Dugal MBX172036152 MA. Contemporary Fashion Buying Class 1 ENG December 13th 2017
• FOUNDED - 2013, Mumbai, Maithili Ahluwalia • USP - Unusual Locations, Avante Garde Interiors, Lived In Displays And Local/ Global Product Selection. • ACHEIVEMENTS - Only store in India - one of the ten best stores in the world - Wallpaper* (UK). Visited and worn by design and fashion experts and celebrities’ globally. Mumbai’s first concept store.
• PHILOSOPHY - Diverse aesthetics coexisting. • MISSION - The brand stands for scouting new and young talents and keeps away from established designers making it not about exotic India but about contemporary India.
AROUND THE STORE
Geographical Variables •
Based in Mumbai with a global reach
Mainly Urban areas
• • • •
Mainly women 25 years and above Upper middle class and High Class From the Fashion, Arts or any other
Psychographic Variables • • •
Mature individualistic individual Eclectic taste, unfazed by trends Women who are not looking for costumes or are high maintenance but who are modern yet rooted with their culture and love to mix and match and celebrate their own unique style.
Product • Less is more being the core aesthetic of the store • Few brands stocked at a time and a continues rotation of brands with continuous pop - ups • Brings in new avant-garde labels that are ethnic yet unknown • Furniture makes up the strongest aspect of Bungalow 8's merchandise, There’s also a well-priced cluster of lights.
Bungalow 8 has a varied price range. With base prices • Light - €40, • Cupboard - €500 • Shoes - €78 Wherein it’s in- house clothing as well as jewelry brand falls somewhat under the range of €34 for a neckpiece to about €500+ for a dress.
Place • Unique location - Cricket stadium • Online Sales - No website , sales through whatsapp, facebook email, worldwide shipping
Promotion Pop-Ups , Book Launches , Magazine shoots.
Alzaia Naviglio Grande
PROPOSED LOCATION - MILAN -
Quaint streets with the art galleries and vintage shops away from the restaurants.
Wait And See
COMPETITORS - MILAN -
SWOT - MILAN -
The Bungalow • Clothing • Core esthetic of the brand main focus in store. • € 40 - 500+
PROPOSED ASSORTMENT - MILAN -
Injiri • Home & Clothing • € 130 - 1000
Jamini Alluwalia • Jewelry • To break the monotony mix with clothing, home accessories. • € 20 Onwards
Dosa • Home & Clothing • Store in Milan, Online - farfetched, Yoox. • Long-lasting Garments Made Of Recycled Scraps And Natural Dyes • Already know to the Milanese women would help bring them into the store.
Lovebirds • Womenswear Clothing • Its Functional yet stylish clothing would be perfect for the Milanese women always on the go. • €120 - 300
Deepa Gurani • Embroidered Accessories • Contemporary yet classic pieces, great mix with the vintage apparel in store. • Was available At Rinascente,yoox. Com And Neta-porter, high chances of the target consumer being familiar with the brand. • €30 - 1000+
Arthur Arbesser • Clothing & Accessories • This young Italian designer would be a great fit to the store by bringing in his Italian aesthetics, his collections would be like a breath of fresh air to the store. • €100 - 1000+
Orchidea Home & Furniture
Less is more being a key aspect of the store it is important not to have the store overcrowded by having the floor well spaced out and not bringing out too much stock at a time. As furniture would take up allot of space it will be important to work towards maximizing sales in the area and also using the area to display as much as possible without making it look overcrowded. At the center of the store would be the local designers from Milan as consumers are more likely to have an association with them and enter the store. To the right would be the bestsellers as once the customer enters the store he/she is more likely to go to the right side of the store. Thus Bungalow 8's own collection would be a part of this section of the store as after all, it is the core aesthetic of the store.
PROPOSED STORE LAYOUT - MILAN -
With less space and a variety of products from lightweight to heavy it often gets frustrating for customers to hold onto products they would like to purchase and at times causing them to leave before reaching the cash counter. Thus to cancel out this as well as increasing the customer experience by quickening the process of purchase allowing a good rotation of customers and not letting the store to get too crowded at a time. The brand could introduce barcode scanners in terms of an app for the younger tech - savvy customers or physical ones at the store for the elder ones. This would allow customers to scan the products they would like to purchase and by the time they reach the counter their products are ready for them.
The main focus of the brand should be to create awareness and let the consumers know that it has arrived and thus the marketing, as well as other promotional activities should be directed towards the same. â€˘ More collaborations in terms of Pop ups, Trunk shows with local artists as well as designers known by the target consumers in order to increase the store footfall. â€˘ With social media being a major influence on consumer behaviour, inspired by Marc Jacobs Tweet shop (MarcJacobs, 2014) in 2014 the following can be done -
PROPOSED PROMOTION PLAN - MILAN -
1. Check in on Facebook and get a 10% off on your purchase 2. A chance to purchase a limited section of products by using the hashtag #LOVEB8 and posting a picture on Instagram tagging the store. The more reposts a picture gets the higher value of goods one could get, no cash involved. 3. Since now it's all about the experience the customer has at your store in order to leave a lasting impact on them and also to make you stand out from the crowd fashion and food is a combination for the win. Instead of giving out things that finish at the moment it would be better to invest in something that would go beyond and elongate the store experience of the consumer. For example, Personalised Nutella or wine bottles which not only let consumers get their names engraved on them but also choose a pattern inspired by the store aesthetics along with the brand name printed on the bottle.
ORDER SHEET - MILAN -
To conclude, Milan's retail market is quite fit for a brand like Bungalow 8. However the brand will have to rigorously work towards creating a brand name and identity in Milan as there will be a constant threat of being overshadowed by the already well established competitors.
By looking at the correct opening, backed by a strong financial background the brand would be set to open in Milan. Once its opening the brand would have to prep itself against the constant threat of being overshadowed and work towards surviving in an extremely volatile market. Thus strong marketing and promotional activities will have to be implemented in order to maximize visibility, customer experience and help sustain a strong brand image.
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Published on Mar 14, 2018