Satin jacket $129
#FBS00700193 Satin jacket $109
THE PERFECTO VEST
#FBS00700194 Twill Vest $119
TWILL EMPEROR COAT
MAJESTIC TRACK JACKET #FBS00700196 Rayon Jacket $90
MONK TEE #FBS00700187 Mesh Shirt in Sand $79
MR. CHERRY PULSE TOP #FBS00700188 Cherry Satin Shirt $93
HERMIT SWEATER #FBS00700189 Terry Sweater with logo on sleeve $110
TERRY TANK #FBS00700190 Terry tank in Sand $45
OPEN TUT TEE #FBS00700191 Twill Tee $83
Terry Short $79
MAJESTIC TRACK PANT
#FBS00700197 Rayon Pant $85
WAR IX JEAN
#FBS00700198 Deconstructed Denim $119
Satin Pant $95
ABOVE 9 JEAN
Tapered Denim $109
Detail Sheet Description: Indigo’s Jumpsuit
Season: Fall 2016
Zipper: 30” Vislon
Thread: Same color as Fabric
Cost Sheet SKU: 2404
Description: Journey Shorts
Fabric Military Olive Cotton Components Care Label Label Tag Size Label Eloxal Riri Zipper Dritz Metal Snaps
Center Back to Hem Center Front to Hem Waistband Height High Hip Low Hip Waistline Inseam
H. I. J.
Outseam Rise Leg Opening
A. B. C. D. E.
Unit Price $11.99
1 1 1 1 Spoon 1 4
Size: SML Amount $17.99
$.20 $.30 $.20 $3.99 $6.00 $3.94
$.20 $.30 $.20 $3.99 $6.00 $15.76 BOM: $26.45
Measurements in Inches
Season: Summer 2018
S 19.5 19 1 5/8 20 1/4 21 5/8 18 1/4 6 5/8 16
20 20.5 19.5 20 1 5/8 1 5/8 20.5 20 5/8 22 1/4 22.5 20.5 21 1/4 7 1/4 8 17 1/4 18
10 5/8 11 1/4 11.5
9 9.5 10 11 5/8 12.5 13 1/8 K. 16 18 20 L. Waistband Relaxed 17 5/8 19 5/8 21 5/8 M. Waistband Extended Tolerance: 3/4” on circumferences, 1/4” on thers *Measurements include Waistband 21/4” 6”
L D E
Shower 2 Entrance
Handicap Shower 3 Water tank
Top of Truck
Solar Panel (mounted to top of truck)
15ft Water Line (mounted to interior of truck wall)
6’10” 1250G Water Tank
15ft Drain Line (Drain hole is drilled on undercarriage of truck and connects to septum tank)
handicap I N S I D E
stall I N S I D E
FOR ALL PERSONS,
who seek to marry and in their autonomy to make such profound choices. -Supreme Court Justice Anthony Kennedy
PRODUCT AND STRATEGY PLAN
• • • • •
• • •
Corsets & tops Shirts Tuxedos Blazers Vests
Cocktail dresses Gowns Overalls
• • •
Skirts Dress trousers
Ties & Bowties Pocket squares Veils
United States Market Summary Number of 2015 estimated weddings, estimated average amount spent, and estimated total sales for each item tracked.
TOP PIECES BOTTOM PIECES FULL DRESSES ACCESSORIES
ATTIRE & ACCESSORIES
Dress Accessories Tuxedo/suit/other Accessories Tuxedo/suit/other Rent/Purchase Wedding Dess
BEAUTY & SPA
Hair Service Makeup Service Manicure & Pedicure
1,933,528 1,868,353 1,890,078 2,063,878
$226 $101 $203 $1,226
$436,977,253 $1888,703,611 $383,685,755 $2,530,314,244
1,868,353 1,520,752 1,716,277
$66 $53 $44
$123,311,270 $80,599,861 $75,516,204
WEDDING INDUSTRY OVERALL FINDINGS About 77% of businesses working in the wedding industry also server other the wedding industry also serve planning/consulting and décor
working in the entertainment side of the business typically have be in the most amount of time, On average, businesses working in the wedding industry - meet with 56 clients per year - serve 47 weddings per year - convert 84% of the clients they meet with into bookings On average, businesses working in the wedding industry earn $197,000 from weddings per year a net income of weddings, 19% of their business comes from corporate events and spend $7,500 on marketing and advertising. Most of their marketing and advertising budget goes to Website or directory listings fees, Bridal shows, word of mouth, and social networking. 44% of businesses say they are on a preferred vendors list. On average, those businesses on a preferred vendor’s lists are on 7 lists. On average, businesses working in the wedding industry spend $2,200 on conferences, educational events and materials per year. Most of their conference and educational budget goes to conferences/seminars, educational/training events, and membership sites. 95% of wedding businesses have a website.
MARKETING 4P S
This paper will examine the VF Corporation’s brand Vans, an athletic youth culture company. The paper will use various sources but predominantly the VF Annual Report 2015. The report focuses on VF revenue as a whole for the year 2015 with sections dedicated to 5 Coalitions that encase 30 brands. Information was pulled from the Outdoor and Action Sports section which includes the Vans brand. Information that wasn’t as informative or simply excluded was sourced through other electronic sources that supported or provided the information for the subject. Contents are sectioned into parts and their segments can be referenced on the previous page. Largely, Vans is an s birth in 1966. Strong brand recognition, value, and reputation amongst their consumers are a factor of this. Vans sponsors numerous events within arts, music, and action sports, globally making it a staple within the urban active community not only as a brand but an experience that all can enjoy with the freedom to be their authentic creative selves.
Brand Introduction Brand Description Mission / Vision History Ownership Size Financial Performance
Situation Analysis Risk Factors Competitor Analysis SWOT
Marketing Analysis Products /Product Categories Price Place Promotion
Size Vans currently has 585 stores worldwide selling their merchandise. Although the brand was founded with production in the US, they shutdown factories in California by 1998 and strictly manufacture out of China and Korea (“Vans Inc Facts,” Encyclopedia). Vans has employed 6,600 people nationwide for an accumulative of 8,000 employees worldwide (Connelly, “Vans Hits its Stride: O.C. Action-Sports Company Hits $2 Billion in Revenue”). Through e-commerce, Vans is able to touch a number of global markets as they have 18 global channels. These include; Brazil, Spain, Austrialia, Sweden, UK, Chile, Netherlands, France, Ireland, Hong Kong, Canada, and Japan (See Fig. 1 below).
Brand Description “Vans is about a state of mind. Thinking differently. Embracing creative self-expression. Authenticity and progresucts, and empowering creative self-expression are the hallmarks of Vans brand rise to become the world’s largest youth culture brand. Vans holds 50 years of youth culture connectivity, Vans continues to advance its roots in action sports while recognizing the global ‘Off the Wall’ connection between the brand and art, music and street culture enthusiasts. Today, the Vans brand evolution continues. From its foundation as an original skateboarding company, to its emergence as a leading action sports brand, to its rise to become the world’s largest youth culture brand — the Vans brand has taken on a power that matches its business performance (“Vans DNA”, vans.com).” History Vans was founded in 1966 by brothers Paul Van and “Getting you the best products, athletes, Jim Van Doren at 704 E. Broadway in Anaheim, California. artists and events on the planet.” Here, they manufactured shoes and sold them directly -Vans (Mission Statement, Vans) to customers. Skateboarders who loved their rugged “Our purpose is to embody and represent canvas makeup and thick sole adopted the shoes early and became a classic Southern Cali look by 1976; the creativity and self expression at the rightfully crowning the phase “Off The Wall.” By the 1980s, core of action sports and youth culture.” Vans opened 70 stores in Southern California and sold both -Vans (Vision Statement, Vans) nationally and internationally (“History”, vans.com). In 1984,
foreign exchange currencies predominantly in European regions subjected to a lost of 4% (VF Annual Report 2015 pp 32). Again, the foreign currency changes and increased investments led to a decrease by 110 basis points in 2015 due to this (“Information by Business Segment,” VF Annual Report 2015 pp 32). Target Consumer Vans have been plugged into the youth culture for 50 years now as the original action sports shoe. They focus Through their foundation as a skateboarding shoe, Vans was quickly able to establish itself as a lifestyle culture brand. Outside of sports culture, Vans sought creative consumers that seeked self-expression and quality in their footwear and apparel at an affordable price. Through Vans support of athletes and emerging bands, Vans has established a solid loyal following of over 14 million people (“Vans DNA,” Vans.com). Their events they Fig. 1. 18 Countries Avaliable; Direct-To-Consumer; Building Stronger Connections; Vans: VF Corpation; vfc.com; 23 September 2016 http://www.vfc.com/ brands/outdoor-action-sports/vans#sustainability
re-organization plan by Paul, Van pays off all debt by 1987 and develops their signature shoe in the same year. and youth culture with Vans Triple Crown Series by the 2000s (“History”, vans.com). Ownership
VanDoren Invitional, and the Vans Warped Tour that all cultivate art, music, street culture, and action sports for over 15 years (“Highlights,” Vans: VF Corporaton). Kevin Bailey, President of Action Sports Divison at VF sports sitting on street culture. . . Nike stands for althetic performance, we [Vans] stand for creative expression” (Mellery-Pratt, “Behind the Vans Boom”). Vans allows customers to customize their shoes giving the artist within everyone a stance. Since Vans focuses on the youth market, their customers tend to purchase due more ampt to hit the stores off impulse. This was a particular result of 2015 marketing, where they zoned in , and empowered Vans’ loyalists to creatively express themselves (“Connecting with the Consumers...One-on-One,” VF 2014 Annual Report). Value Proposition Vans is unique due to its’ deep roots within skate culture but also extending past that into art and music that encases an overall culture. Its’ creative self-expression resonates with those who follow trends but do not wish
Financial Performance Vans is a feature of VF Corporation Outdoor and Action Sports Coalition. The Fig. 2 (see below) represents the
is the Vice President of Human Resources, and Steven J. Van Doren is Vice President of Asia and Americas. VF Corporation took ownership in 2004 for $400 million (“Company Overview of Vans,” Bloomberg).
Vans: How the Iconic Shoe Brand Has Kept on Surviving”). Neil Schambra Stevens, VP of Marketing at EMEA at Vans states, “Paul wanted to make it a people company rather than a shoe company. That’s been critical for us in terms of how we develop our products. We have credibility in footwear, apparel and accessories, and so the opportunity to expand into new product groups and categories has been a key part of keeping us relevant” (Roderick, “Vans Turns 50: ‘Why We’re Not Just A Shoe Company”). Vans provides customer focused product through their unparamount e-commerce and social media presence that uses interactive digital video games, music, and art. Vans believes they excel at brand recognition, product price, and product quality. In the VF 2015 Annual Report, Vans states their ability to compete depends heavily upon; anticipating and responding to changing consumer trends in a timely manner, developing attractive; innovative and high quality products that meet consumer needs, maintaining strong brand recognition, pricing products appropriately, providing best-in-class marketing support and intelligence, ensuring product availability and fectively presenting our products at retail, and producing or procuring quality products on a consistent basis (“Risk Factors,” VF Annual Report 2015 pp 13).
Annual Report. They are shown in support to the coalition’s growth. The numbers referenced throughout this section are strictly that of the Vans brand and may include other sources as support outside of the 2015 VF Report. Fig. 2.
Outdoor & Action Sports Dollars in Millions Coalition Revenues Operating Margin
2015 $7,400.4 1,266.8 17.1%
2014 $7,199.0 1,313.0 18.2%
2013 $6,379.2 1,106.4 17.3%
Percent Change 2015 2014 2.8% 12.9% 3.5% 18.7%
Source: “Information By Business Segment,” VF Annual Report 2105; Vans: VF Corpation; vfc.com; 23 September 2016 http://www.vfc.com/brands/outdoor-action-sports/vans#sustainability
Billabong (Connelly, “Vans Hits its Stride: O.C. Action-Sports Company Hits $2 Billion in Revenue”). Today, this revenue is up 17% from 2014. Vans global revenue increased 7% in 2015 totaling $2.2 billion, illustrating the operational growth in both wholesale and direct-to-consumer. Wholesale grew by 1% from 2014 to 2015. New store openings and expansion upon e-commerce in global regions attributed to 24% direct-to-consumer growth from 2014 to 2015 (VF Annual Report 2015 increased 9%. This number is largely due in part to China’s growth. However, negative impacts due to
Risk Factors Below are some of the risk factors mentioned in the 2015 VF Annual Report. 1. Vans results of operations could be materially harmed if we are unable to accurately forecast demand for our products. Vans has no assurance that they will be able to successfully anticipate changing consumer preferences and product trends or economic conditions, therefore, Vans may not successfully manage inventory levels to meet their future order requirements as they often schedule internal production and production orders with before a shortage of product required to meet the demand. This excess of inventory to that of consumer demand may end in inventory write-downs, the sale of discounted price inventory, or excess inventory being held by the wholesale customers, which could have a negative impact on future sales, negatively effect on the image and reputation of party manufacturers may not be able to produce products to meet consumer requirements. This causes delays in the shipment of products and lost revenues, as well as damage to Vans reputation and relationships. These risks could have a material adverse effect on our brand image along with results of operations and VF Annual Report 2015 pp 13). 2. Vans business and the success of its products could be harmed if Vans is unable to maintain their image. Negative claims or publicity regarding Vans or its’ products, could adversely affect the brand’s reputation and sales regardless of whether such claims are false. Social media, which is key to the brand’s dissemination of information, can increase the challenges of responding to negative claims. Vans have various sponsorship contracts with a numerous athletes and musicians featured in their advertising and marketing efforts. Therefore, negative actions by these individuals associated with the products could harm Vans reputation and images (“Risk Factors” VF Annual Report 2015 pp 14). increase costs. Fluctuations in the price, availability and quality of fabrics, leather or other raw materials used by Vans in its fects the brand. These changes could impact Vans cost of goods that are selling and its ability to meet its customers’ demands. The price and raw materials
rates required by legal or industry standards could increase Vans costs and product costs. In the future, Vans Report 2015 pp 18).
Strengths -Vans has a strong brand recognition, reputation and over 14 million loyal consumers. -Affordable prices in footwear, apparel, and accessories. -Allows customization. -Strong youth connection in extreme sports. -Footwear size ranges to size 16. -Strong psychographic value.
CONVERSE Converse is a iconic athletic lifestyle footwear and apparel brand established in 1908. They reached $2 billion in revenue in 2015. They also distribute nationwide and worldwide. Converse has 92 retail stores (“United States Market,” 2015 Form 10-K) therefore, Vans direct-to-consumer links are larger. Like Vans, Converse inhibits art, music, and street culture. They also started as a rubber shoe company with a sticky sole but attributed to basketball rather than skateboarding. True to their embrace of art, they also allow customization of their footwear focusing on individuality and self-expression (“Our Story,” Converse.com). Under Nike, they have premium prices and a large array of product choices.
Weaknesses -Vans strong embedment within the skate community may prevent them from being a true competitor in other sports or fashion footwear markets. New consumers who are not part of this culture may feel excluded. -Vans lacks advanced research and development methods to aid in customer research that may enhance their product design, assortment, and customer reach. -Small distribution, factories, and retail stores to that of competitors.
NIKE Nike is the largest seller of athletic footwear and apparel in the world. Nike offers a variety of sports categories. performance that includes seven categories of sports. They are located in 14 countries with 146 factories and 185 retail stores nationwide. Internationally, Nike has 512 factory stores and 73 in-line stores, they also function
Opportunities -Vans is known predominantly as a casual shoe, they could expand to a professional or fashion shoe. -Connection to youth market continues to expand which allows them to continue to plug new ideas and trends to target and upcoming markets as each generation gets larger. -Invest in more innovation centers to expand products and market segments along with new ways to engage consumers.
events. They use advance technology innovation to create products that enhance athlete performance (“Products,” 2015 Form 10-K). Prices are a bit steeper than that of Vans, however, Nike’s assortment range allows a consumer to
PUMA “PUMA is “Forever Faster”.“Forever Faster” is sports with personality. These statements are the foundation for
Threats -International trade laws, regulations, and agreements. -Foreign exchange currencies may cause loss of funds and costs of foreign imports -Counterfeits -Sports foortwear market is very competitive -Strong reliance on technology to market and spread information could be harmful if this channel fails.
They motivate us to surpass our potential, and use our knowledge and history in sport to further establish credibility, authenticity, and an appreciation for the games we play (“Brand Strategy,” Puma Training Annual Report 2015).” The 2014 forever faster campaign is a new strategy to repostion the brand as a performance brand (“Note to Shareholders,” Puma Training Annual Report 2015). Through the launch of Fenty by Rihanna in 2016, Puma as presented itself as the most fashion-forward sports brand company to hit the runway. Unlike the others, Puma sells to Africa. Puma achieved a net revenue of 3,387.4 Euro in 2015; half due to footwear sales (“Consolidated Sales,” Puma Training Annual Report 2015). Their prices run similar to Nike.
Kids: Shoes (Boys (3.5-6 ($35-$115) Little Boys (10.5-3 ($35-$55) Girls (10.5-6 ($35-$55) Toddler (Size 4-10 ($25-$45) Infant (0-9 Months ($25-$30) snowboard boots ($119.95), Boy Clothes (Tees / tanks ($18-$24.50), shirts ($39.50-$48), sweatshirts / hoodies ($39.50-$59.50), shorts ($34.50-$49.50), jeans / pants ($44.50), Accessories (hats ($14-$23), socks ($3.95-$14.95) (vans.com). Vans maintains an affordable price point with a range in product selection that sustains the teenage youth price zone. Place Vans has 585 stores worldwide. Their products are offered globally through chain stores, specialty stores, 500 retail stores, and e-commerce sites focused on particular regions. They have 300 partnership stores across Europe and Asia (“Outdoor & Action Sports Coalition,” VF Annual Report 2015 pp 3). Vans however, only has 3 innovation centers to focus on consumer research and develop new ideas and products. (“Manufacturing, Sourcing, & Distribution,” VF Annual Report 2015 pp 7). Vans uses independent contractors out of Hong Kong for footwear due to raw materials and manufacturing. Raw materials for their apparel are sourced in the US, Mexico, Central and South America, the Caribbean and Europe (“Manufacturing, Sourcing, & Distribution,” VF Annual Report 2015
“2015 Form 10-K.” Nike, Inc Annual Report on Form 10-K.
Accessed 23 September 2016. “Company Overview of Vans, Inc.” Bloomberg, www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=36149. Accessed 23 September 2016. Connelly, Laylan. “Happy 50th, Vans: How the Iconic Shoe Brand Has Kept On Surviving.” Chicago Tribune, 17 March 2016, www.chicagotribune.com/business/ct-vans-50th-anniversary-20160317-story.html. Accessed 23 September 2016 Connelly, Laylan. “Van Hits It’s Stride: O.C. Action-Sports Company Hits $2 Billion In Revenue.” The Orange County Register, 23 February 2015, www.ocregister.com/articles/vans-652130-brand-brands.html. Accessed 23 September 2016. Mellery-Pratt, Robin. “Behind The Van Boom.” Business Of Fashion, 11 September 2014, www.businessoffashion.com/articles/intelligence/behind-vans-boom. Accessed 23 September 2016. Roderick, Leonie. “Vans Turns 50: ‘Why we’re not just a shoe company.” Marketing Week, 22 March 2016. www.marketingweek.com/2016/03/22/vans-were-not-just-a-shoe-company/. Accessed 23 September 2016. “Our Story.” Converse, www.converse.com/uk/en/our-story/about-us.html. Accessed 23 September 2016. “Powerful Brands. Powerful Platforms. One VF.” VF Corporation 2015 Annual Report. content.stockpr.com/vfc/db/74/17020/annual_report/VF_Annual_Report_2015-Digital.pdf. Accessed 23 September 2016. “Puma Training 2015.” Puma Annual Report 2015.
according to VF Annual 2015 Report. By 2nd Quarter, Vans drove 30% growth in Asia, e-commerce grew 70% due to their collab with Disney and Nintendo. Promotion Vans uses various social media channels to reach their youth market, which include; Instagram, Vine, YouTube, pinterest, SnapChat, Twitter, and Facebook. These chanels allow Vans to engage and interact with their consumers. Youth are technology driven and are constantly on these platforms for personal or educational reasons. Vans uses billboards, print magazine ads, blog pages, social media ans sponsors annual events Day, the Vans Pool Party, the House of Vans, VanDoren Invitational, and the Vans Warped Tour, which all promote their products reaching masses of consumers and potential consumers. Their main use of channels are social media and their sponsored events as they allow them to engage and contol the information sent directly to their target community. Regarding sale, Vans uses incentives, free shipping,
low-res-8932dbc11383cd85124e1ba63d86b5cc.pdf. Accessed 23 September 2016. “Vans Off The Wall.” Vans, www.vans.com. Accessed 23 September 2016.
promo codes (“Customer Service,” vans.com).
Products Product Categories Men’s: Shoes (Classics, Pro Skate, Surf, Sandals, Snowboard boots), Clothing (T-Shirts, hoodies, sweaters, shirts, jackets, pants, joggers, jeans, tanks, shorts, boardshorts), Accessories (Backpacks, bags, hats, snapbacks, beanies, socks, sunglasses, wallets, belts, laces) (vans.com). Women’s: Shoes (Classics, Surf, Sandals, Snowboard boots), Clothing (T-Shirts, tanks, sweatshirts, hoodies, sweaters, shirts, tops, dresses, skirts, jackets, shorts, pants, leggings, jeans), Accessories (Backpacks, bags, beanies, hats, socks, sunglasses, wallets, scarves, gloves, keychains) (vans.com). Kids: Shoes (Boys (3.5-6) Little Boys (10.5-3) Girls (10.5-6) Toddler (Size 4-10) Infant (0-9 Months) snowboard boots), Boy Clothes (Tees, tanks, shirts, sweatshirts, hoodies, shorts, jeans, pants), Accessories (hats, socks) (vans.com). BMX, Customs, Vault, Syndicate (vans.com). Vans expanded its products beyond skate footwear to that of apparel and accessories with affordable prices. Offering kids, mens, and womens allows them to provide for all within their target community. The range also allows them to provide product for the various events within music and art that Vans sponsors. Since the skateboard scene is anonymously tied with punk rock, Vans launched a collaboration with Odd Future that will encapture the hip hop aspect that also embaces extreme sports. This new line will be created by TylerTheCreator set to debut 24 September 2016 that features the classic Ski-8 and Authentic with electric vibrant patterns and prints (“Vans X Odd Future,” vans.com). This collab remains consistant with their endeavor to embody self-expression within youth and action sports. Price Men’s: Shoes (Classics ($25-$115), Pro Skate ($25-$90), Surf ($17-$125), Sandals ($17-$50), Snowboard boots ($159-$359), Clothing (T-Shirts ($22-$59.50), sweaters / hoodies ($44.50-$89.50), shirts ($44.50-99.50), jackets ($49.50-$199.50), pants / joggers ($49.50-59.50), jeans ($49.50-$109.50), tanks ($18-$32), shorts ($39.50-$59.50), boardshorts ($49.50-$64.50), Accessories (Backpacks / bags ($35-$95), hats / snapbacks ($20-$34), beanies ($16-$32), socks ($10-$14.95), sunglasses ($12-$20), wallets ($15-$45), belts ($15-$40), laces ($2.99-$14.99) (vans.com). Women’s: Shoes (Classics ($50-$115), Surf ($17-$120), Sandals ($17-$45), Snowboard boots ($179.95-$249.95), Clothing (T-Shirts / tanks ($24.50-$39.50), sweatshirts / hoodies ($39.50-$54.50), shirts / tops ($44.50-$54.50), dresses / skirts ($39.50-$54.50), jackets ($49.50-$160), sweaters ($54.50-$64.50), shorts ($29.50-$49.50), pants / leggings ($29.50-$49.50), jeans ($54.50-$64.50), Accessories (Backpacks / bags ($10-$64), beanies / hats ($18-$30), socks ($7.95-$13.95), sunglasses ($10-$14), wallets ($20-$32), scarves / gloves ($15-$38), 10.