Creating and promoting a resale area for Jacquemus

Student name: Ella Queyrat Student ID: 18021310

Course: Fashion Marketing Unit name: Final major Project Supervisor: Luis Parada Date: 27/05/2020

DEVELOPING AND PROMOTING A RESALE AREA FOR Jacquemus

Acknowledgements

I would like to express my immense gratitude for the help and patience I received during this period of writing my Final Major project.

I would like to thank my wonderful supervisor, Luis Gomes Da Silva Antas Parada, for guiding me and giving me the confidence and motivation that I so much needed. To have been able to giving me strength and who constantly expressed his trust in my capacities.

I would also like to give special thanks to the whole team of The Fashion marketing professors who, in spite of a difficult context, managed to offer us a last year of understanding and cooperation.

I would also like to thank my colleagues from my Fashion Marketing programme, Clémence, Eugénie, Merel and Shiraz who have been extremely supportive over the last three years. Finally, I would also like to thank my parents and my family who have been extremely present and supportive throughout the whole process of making this project.

Project summary

Founded in 2009 by Simon Porte, Jacquemus is a luxury apparel brand which had an early focus on womenswear and later developed its product lines for menswear and accessories (Jacquemus, 2020).

Simon Porte is the artistic director of the brand. Born in Salon de Provence, South East of France in 1990, he grew up in a modest family of farmers. At 18 years old he decided to move to Paris to pursue fashion design studies which he quit two months after enrolling. A turning point in his life came when his mother passed away in 2008, prompting him to create Jacquemus. It remains a tribute to his late mother, who is and will remain a source of inspiration in the creation process of his collections (Bof, 2020).

The particularity of the brand relies on the contemporaneity it holds within the luxury market (Retview, 2019). It does not answer to the traditional anti-laws of marketing that more traditional luxury brands utilize (Kapferer, 2012).

Indeed, the brand benefits from a small heritage but has a strong DNA (Kapferer, 2012). Jacquemus is defined by its physique with its logo appearing on most of its products, its tight relationship with its consumers via its social media channels which does not leave a gap between them, the emphasis on the aesthetics inspired by the south of France and its youthful personality. Jacquemus is a credible player to thrive in a very competitive luxury market.

Consequently, in light of the current image and strategy used by the brand, Jacquemus are able to widen their possibilities in terms of innova tions, to seize opportunities to sustain their competitive advantage and to positively impact their overall strategy (Highsnobiety, 2020).

The scope of this project will thus introduce Jacquemus to a trend: the resale and second-hand market. They will create a resale area called Re live Jacquemus allowing Jacquemus consumers to resell the product they no longer wear. In parallel those products will be resold on a new sub pro duct category called Second-Jacquemus. Using the resale area will enable consumers to resell and purchase second-hand products 100% authenti cated by the Jacquemus sales team.

The proposed service will be implemented on their official website. Its promotion will be happening thanks to owned and earned media. The owned media will be a social media campaign through the brand’s existing Instagram and Facebook accounts.

This strategy is already used by the brand to promote their last collections and communicate about their activities. However, they will introduce a new earned media in order to increase the brand’s audience and interactions with the several existing touchpoints: an influencer mar keting strategy. They will ask two influencers, Tamara Kalinic and Sofia Coelho, to promote the new service on their social media channels and blog.

The aim of this project will be to:

• Reach: To grow Jacquemus’s community through the variety of owned, paid and earned media proposed by the brand.

• Act: It will increase consumer interactions through the different social media channels.

• Convert: The brand’s new service will boost sales and revenue.

• Engage: To increase consumer loyalty towards the brand and its re sale area

To run this effectively, the brand will use a product development strategy (Ansoff, 1957). This product development strategy will answer numerous demands from two generations that constitute an important share of Jacquemus and the resale and second-hand market consumers: the generation z and millennials.

Indeed, this demand is driven by several factors: an increasing demand from those generations for more sustainable practices from bu sinesses. This demand is also driven by the fact that Millennials and Gen Z wish to afford authentic and high-quality products which results in the purchase of luxury goods. Plus, the brand and the resale market are ex periencing exponential growth in terms of online sales, the demand is driven by those generations for more digital experiences as most of their shopping habits are happening online.

These innovations will be implemented completely digitally. This product development strategy will enable the brand to sus tain its competitive advantage as a contemporary luxury brand. Moreo ver, it will reposition them as a more fashion forward brand as they will include a system based on circularity and sustainability while preserving their current brand identity. Jacquemus product life cycle will be consi dered beyond the first sale.

1

R A T I O N A L E

L

Fashion Business Market segment

Founded in 2009 by Simon Porte Jacquemus, Jacquemus is a direct-to-consumer french independent luxury brand operating in the luxury apparel industry (Deslandes.F, 2020).

The brand sells womenswear, menswear, and accessories of fline through several independent retailers implemented across the globe. The brand does not own any operated stores and sells its product principally online via their official website (Jacquemus, 2020) and online resellers such as Farfetch.

As of today, the main mission of the brand is to «build a highend clothing brand with a strong visual impact, but with a price range that corresponds to a brand with contemporary style» (Jacquemus, 2020). This mission is reflected by their marketing strategy developed mainly online via different own media and shared media (Dietrich. G, 2014) such as the brand’s website but also their social media channels like Facebook and Tiktok but especially Instagram. Those social media platforms, mostly operated by Simon Porte himself, allowed the brand to create a real community and fan base which now trust and aspire to the brand.

Consequently, in light of the current’s image and marketing strategy used by the brand, it is allowing them to widen its possibili ties in terms of innovations, and to seize opportunities to gain com petitive advantage (Highsnobiety, 2020) and positively impact their overall strategy.

The global luxury market in which the brand Jacquemus is ope rating has known an exponential growth for years and is a sector in which demand continues to rise (Satista, 2020). According to research conducted by Fortune business Insight in 2020, the luxury fashion segment was worth $316.16 billion in 2019 and expected to see an annual growth of 4,6% CAGR by 2027.

More precisely the online luxury market was worth approximately $59 billion in 2020 (Satista, 2020) and is expected to make up for 25% of luxury sales by 2025 (Bain & Co, 2020).

Another market that comes as an opportunity for the global luxury sector is the luxury resale market who has come a winner post-pandemic (ThredUp, 2020). Indeed, the luxury resale market is now worth $16,23 billion and is estimated to be worth 68.53 Billion by 2026 (Verified Market Research, 2020).

Consumers demand for sustainability and digital experiences has increased considering the pandemic and the environmental challenges the fashion industry is currently facing (Mckinsey, 2020). A sector that comes as a solution for luxury brands to remain profitable in the next few years is the resale and se cond-hand market. This market has known a tremendous growth for a few decades now and is expected to beat today’s traditional luxury retail by 2025 (ThredUP, 2020).

Secondary research showed that the brand presents several opportunities when engaging with the trend. Thus, this development project will aim at introducing Jacquemus to the resale market.

The brand will design and implement a new service based on circularity by creating a resale area called “ Relive Jacquemus’’ in which consumers will be able to resell the Jacquemus product they no longer wear. The new service will be 100% operated by the Jacquemus sales team. They will be in direct and constant contact with them to ensure a seamless and trusted luxury brand experience. By using this service, it will allow consumers to resell his products at its exact price value that will be determined by the sales team.

To run this effectively, the consumer will have to create an account, a service already provided by the brand, to resell as many products as he want. The account will enable them to keept track of the product’s resellling process and to to resell products. The process of reselling encompass a 3 large steps, regrou ping other steps:

1. He will have to fill a form indicating what product it is, what product category it belongs to, its current state, include if he has it the initial purchase receipt and a picture. After submitting the form they will receive an email sent by the Jacquemus sales team to know if the application has been successful.

2. If it is successful, the sales team will ask to send the product to an address in order to have it physically inspected. The consumer will also be able to book an authication video call if he is unable to send the pro duct. He will be thus responsible for the shipment of the product the new owner and will be refunded by the brand for the shipping costs. If he can send it: after receiving it they will be responsible for the physical inspection and the authenticity check. the inspection will take a couple of days.

3. They will then send an email to the cutomer to let him know that the authenticity has been undertaken and that it will be photographed and stocked in their showroom awating the next purchase. They will also give a product’s price estimation based on the rarity, the quality and the current state of the product. However, the sales team will charge a larger or smaller percentage depending on the final price of the product. The resold products will be available under the name “Second-jacquemus” under the product’s categories displayed on their official website.

The other service provided will be the «Second-Jacquemus»

A new product category will be created under the already existing product categories. It will be called SECOND-JACQUEMUS. It will be available under the Womenswear and Menswear ranges already displayed on the Jacquemus official website. This area will be devoted to the next owner of the product. This service will allow them to purchase authenticated Jacquemus products sold at their exact exact value price. When purchasing a pre-owned jacquemus item, they will go through the exact same consumer journey that a consu mer would go through if they were purchasing a product from the current collection. (Appendix A)

This service will be promoted thanks to the PESO model (Appendix B) Indeed, the brand will use a social media communication strategy through paid and own media via their social media channels to drive consumers towards the resale area and to widen their consumer and community.

Value proposition

The proposed service will target two consumer groups that Jacquemus and the second-hand market both target : Millenials and Gen Z.

Millennials are Jacquemus’s main consumer target, but there is also a huge demand from the younger Generation Z demographic who would purchase more from the brand (Erin Engelage, 2020).

Millennials

Aged between 24 and 40 years old (Pew research, 2020)

Privilege experience over products (McKinsey, 2020)

Generation Z

Value proposition

Costumer segment

Gain Creator

• Allow target consumer to live a luxury brand’s expe rience.

products and services

Aged between 18 and 23 years old (Parker.K, Igielnik. R, 2020)

Digital savy (GlobalWebIndex, 2020)

According to Fashion network, it is expected that millennials will account for half of the luxury market consumer within 5 years.

90% of gen z answered that second-hand is their main mode of consumption according to a survey conducted by GlobalWebindex in 2020.

The second most tech-savvy generation after the Generation Z (Global webIndex, 2020).

According to Forbes, 42% of this cohort place the environment as a top priority concerning when it comes to their purchasing behaviour.

Primary research showed that the 48,5% youn gest generation purchasing motivator for luxu ry products is durability and quality.

• Digital Resale area avai lable on the official Jacque mus website.

• Creation of another range of product called « Se cond-jacquemus » dis played under the « women and men categories ».

• Authentification service carried out by the Jacque mus sales team.

• To allow the consumer to fully be part of the Jacque mus community.

• To purchase authentic and Jacquemus’s products.

• To allow the consumer to gain more individuality when wearing the resold product.

Pain relivers

Consumpion patterns are mostly turned towards digital as 40% of them uses internet chan nels to purchase their clothes (Brewis.D, 2019).

group

• Trusted experience.

• Purchase products that are long-lasting and high quality.

• Enable them to engage with more circular consumption patterns.

• To live a entertaining online expe rience.

• To resell products that are resold at they exact value price.

• 100% physically authenticated products

Figure 1.1: Value proposition canvas, Osterwalder. A, 2004

• Answer the demand from younger consumers for more sustainable prac tices from brands (Thre dUp, 2020).

• Trusted experience.

• Safe process.

• Digital experience

• Seamles and entertai ning consumer journey.

• Live a luxury brand expe rience

Gains Pains

Long reselling process from the the the time he fills the products form and the time its product is available and ready to be resold.

• New product price estima tion might not satisfy the consumer.

Customer job

• To be more authentic

• Eco-friendly

• Fashionable

• To live experiences based on exclusivity and per sonnalisation.

Raise awareness around Jacquemus’ business in order to grow their audience through their owned-media.

To increase consumer loyalty through the creation of accounts.

To boost sales and re venue.

Goals-Smart objectives

The goal of this project is to offer to consumers an entertaining and trusted experience through the Relive Jacqemus area. In the same way, strengthen their environmental concerns as the proposed service is based on circularity. The proposed development project’s Smart objectives will be illustrated through the RACE model (Chafrey, D, 2010) (Appendix C). The model is a necessary tool to understand how the proposed service will positively impact the brand in terms of sales, awareness, expanding their audience and ultimately increase customer loyalty.

Increase brand’s awareness: To Increase consumer visits on the website by 10% within 6 months after launching. Increase sales by 10 % within the end of 2021 through the resale area.

• Increase Instagram drives towards the website by 5% within 3 months.

CONVERT ENGAGE

• To increase social media engagement by 5% within 3 months after launching. Increase the amount of subscription/number of account created on the Jacque mus website by 20% within 12 months after launching Relive Jacquemus.

Figure 1.2: The Race model, Chaffey, D., 2010

PICTURE OF SENDER

EXTERNALISATION

Physique

Simon Porte The Jacquemus logo Minimalism Geomotrical Sophistication Relationship Closeness with audience Instagram driven brand Community Reflection « Typical French-girl » (Simon Porte, Bof 2019) Elegant simple Young Independant Simon’s mother like (matches fashion, 2017)

Personality Youth Playful emotion

PICTURE OF RECIPIENT

Past-oriented Culture French-oriented Mediterranean Art South of France Self-image Succesful Independant Sophisticated Minimalist style Young Figure 2.1: Brand identity Prism, J. Kapferer, 2009

Core products

Jacquemus consumer

«The girl who can see the modern poetry in a white T-shirt»

products:

Founded in 2009, by Simon Porte, Jacquemus is a luxury apparel brand which operates in the luxury womenswear market and later ente red the luxury menswear market and accessories (Jacquemus, 2020).

The French brand is operating internationally in the Fashion luxu ry goods market, but more specifically in the clothing and accessories -and more specifically in the luxury goods market. The handbag luxury handbag market size valued market was worth $58,3 billion in 2018 and it is forecast that this value will grow as it is expected to be worth $89,9 billion by 2026 (AlliedMarket Research, 2020).

Even though the luxury market has experienced a 20% sales decline due to the pandemic (Future business Insight, 2020), the brand has thrived thanks to his strong online presence. Indeed, the brand is an important actor in the world of online luxury market, estimated to be a leading luxury sales channel by 2025 according to a market analysis undertaken by Bain & Co in 2019.

«The target customer is a millennial ran ging from 24 to 35 years old. She is located in urban cities like Paris, London, New York, and Los Angeles as well as the slow-paced countryside. She is a free-spi rit, a world-traveler, and a “child of the digital age”

«She is a creative, freelancer, editor, or student with disposable income. She is unapologetically herself, and is not afraid to make a fashion statement».

(Erin Engelage, 2020)

«I used to think my customer was 22. But she’s not. I think you need to know your self. Confidence. My muse for me would always be my mother – I lost her and I decided to do this brand for her, so my mother is always in my collections»

(Simon Porte for McFarland, J, 2020)

The brand sells mostly womenswear and menswear clothing but also accessories for both of those categories. Jacquemus collections are sold principally online through their offi cial website, www. Jacquemus.com (Retviews, 2020). They are also using a lot of different online retailers such as Sensee and Fafetch to sell their collections.

WOMENSWEAR

Womenswear core products are bags such as the “Chiquito” available in many sizes and colors. The “chiquito” is conside red as the brand’s «best-sellers and the demand for this pro duct has been rising since its issue in 2018 (Marain, A,. 2020).

Another core product that represents a big part of Jacquemus’s collections are dresses. Jacquemus’s core value, diversity and inclusivity are shown through the diversity of body shapes and sizes availablein that product range. This strategy emphasizes the accessibility and contemporeinty characteristics attached to the brand (Business of fashion, 2020).

MENSWEAR

Menswear core products are «shirts» which are all available on the website. They represent the biggest number of products among all other ranges of products. They are also available in different design prints in line with the brand’s aesthetic. Hats are the second core product within the menswear collection available in different styles, colors and differ in terms of price range.

.

and services

purchase

The brand jacquemus offers to their customers a varsity of service to ensure a seamless and coherent consumer jour ney.

The account:

The main advantage of creating a jacquemus account for a consumer relies heavily on convenience and a fast purchasing process.

Indeed, the account is allowing the consumer to first of all keep track of its order if it decides to purchase a product. It also allows him to save the product he shows interests in ins tead of going through the product research process again.

Customer service:

Most of Jacquemus’ sales happen mostly through their e-commerce platform, the sales team allow consumers to be in constant contact with them if they have any query all through the journey. This is done via an email and a phone number. (include image)

Current Marketing strategy

Direct Marketing via an omni-channel strategy.

Figure 2.3

Figure 2.4

Figure 2.5

Chat via whatsapp:

The difference between the customer service and the chat is that the chat can be used as a personal shopping experience. the consumer can contact a person from the sales team to get advice in terms of fitting, size and style.

The brand promotion is essentially supported by a di rect marketing strategy (Smith, P.R, Taylor, J. 2004). Indeed, the brand uses media over which it has exclusive control. In other words, this «above-the-line» strategy allows it to be in direct contact with its consumers without compromising its DNA and its equity. Furthermore, Jacquemus is committed to a purely visual and digital strategy so that it meets criteria that the public can easily identify with and access (Deslandes. M, 2020).

The omni-channel strategy is also used as the brand de livers the same kind of marketing content across all brand’s owned medias (Website and social medias)

Story-telling

Figure 2.6

Figure 2.7

Moreover, through its digital savvy strategy, the brand is also basing its product promotion on story-telling (Simmons, n.d). Indeed, it is crucial to remind that the brand is a tribute to Simon Porte’s late mother and that the overalls brand image is based on Simon Porte youth in south of france. The luxury brand is thus respecting its identity by telling a story across all images and visuals displayed through different media and are conveyed entirely through the brand’s communication strate gy.

Finally, the brand personality is mostly revolving around the nostalgia aspect he uses in his collections and tries to retranscribe through its promotion strategy (Retviews, 2020).

TOUCHPOINTS - social media INSTAGRAM

As mentioned above, the overall Jacquemus’s strategy is mainly digital. Indeed, the brand owes its success to its digital presence and more particularly to its presence on Instagram (Leach. F, 2020). The brand currently gathers 3.4 million followers and average of 100K and 500k of likes per post. Simon Porte is the main community manager which creates a close relationship with its target consumer through different posts which represents the overall brand’s activies in terms of campaigns, fashion shows. The instagram is used as a «diary» to post personnal images captured by the creative director. The designer is also using the account as a “personal diary” (Business of Fashion, 2019) enabling consumers to feel close to the brand. The efficiency of the strategy relies heavily on this closeness between the brand and the public. «Jacquemus is mastering the art of community building for digital age. By having a transparent 360-degree communication and or strategy, creating ig-friendly products worn by a diverse audience» (Highsnobiety, 2020)

Plus, Simon Porte is also opening a dialogue with its audience by posting stories and posts in order to constantly tease and catch the consumer’s attention.

For Instance, there was significant interest in the brand during the period of confinement. Indeed, the Instagram presence proved to be a very effective strategy to keep the audience engaged and interested. Simon Porte created a hashtag #JacquemusatHome allows his followers to create creative posts fea turing the brand’s products. The designer then re-shared these posts to raise awareness and strengthen his community (Wendy K. Bendoni, 2017, p. 228–261).

TOUCHPOINTS - social media

instagraM stories pre campaigns launching

Figure 2.9

Figure 2.8 Figure 2.10

Figure 2.10

The Instagram stories is also a way for Simon Porte to tease consumers before launching collections. The «Do you like pink» creates a conversation bewteen the brand and the consumer and prepare them for the future campaign launch. Here the stories were made for the PINK COLLECTION.

TOUCHPOINTS - social media

TOUCHPOINTS - social media

instagraM for community building

Figure 2.11

Figure 2.12:

Shown on figure 2.11 and 12 above is an example of a the challenge given by Simon Porte during the first lockdown. The consumers were asked to display through an instagram post a new «type of high-shoe» in line with the brand’s aesthetic. This Hashtag comes in line with the wish for the brand to be relatable and for consumers to truly be part of the brand’s community (Leach. F, 2020).

instagram for promotional campaigns

Figure 2.13: Figure 2.14: Figure 2.15:

Shown on figure 2.13, 2.14 and 2.15 is an example of the three Instagram posts for the «Les fleurs» campaign. An upcycled project in association with «Les fleurs de Paul» (Paul’s Flowers in English) in which the brand were selling flower bouqets wrapped with last’s col lections materials.

TOUCHPOINTS - social media Owned media - social media

instagraM as a personnal diary

Figure 2.16

Figure 2.17 Figure 2.18

FAcebook and

tiktok

Other social media controled by the brand are used:

-

Facebook:

Which is used as a more cordial plat form when prmoting the brand (Enge lage, E, 2020). The brand uses facebook as a tool to introduce the overall brand activities such as their campaigns, the last to date is the «Amour» campaing for the SS2021. Plus, the brand benefits from the facebook shopping feature which allows it to drive consumers to the official Jacquemus website.

-

Tiktok:

Shown on figure 2.16, 2.17, 2.18, the Jacquemus Instagram account is also used as a «personal diary» for Simon Porte. To increase the proximity between the consumer and the brand, the desi gner show some transparency about his personal life. This is also an effective strategy to increase trust from its consumers (Lee, J, 2020).

Youth and Playfulness are one of the main brand’s attributes. Tiktok comes thus as a useful tool to attract younger cosnumers such as Generation Z. This owned-media comes as another platform to make the brand even more ac cessible and to blur the usual line there usually is between consumers and luxury brands (Kapferer, 2012).

Figure 2.19 Figure 2.20

WebsiteAs explained above, the brand does not have any direct operated stores. They thus, rely a lot on their website to boost sales but to also promote the brand. This owned media has been extremely effective in raising awareness: a report conducted by Highsnobiety has recorded a total of 183,000 searches in the United States and Eu rope in the year 2020.

The website is also a complete transcribtion of the brand aesthetic and equity. This media also answered to the usual luxury e-commerce platform characteristics (Charlton, g, 2019):

-The brand is using striking and coherant visuals to display their products.

-The brand’s website is easy to use across all steps of the consumer journey.

-The brand’s history and idenity is displayed thanks to the «Simon» artefact. This allows consu mer to understand who is behing the Jacque mus business and to differientiate themselves from other more tradiontal retailers (Charlton, g, 2019).

Figure 2.21

Competitive advantage

After assessing the resources and capabilities of the Jacquemus brand, the brand’s competitive advantage has been identified through the VRIO model (Barney, J, 1991) (APPENDIX D) .

The brand seems to hold a long-term competitive advantage in terms of brand image and product innovations. Those resources are hard to imitate as they are unique and based on the brand’s heritage. Plus, the product innovation has been analyzed and research has shown their long-term competitive advantage as they are valuable, rare, inimitable and organised. However, one resource that could represent a temporary com petitive advantage would be the marketing strategy as social media is signicantly accessible and used by brands.

Resources and capa

bilities

Valuable Rare Imitability Organisation RESULTS

Brand image Yes -The brand is image is based on story-tel ling. Simon porte inspire himself from his birth region in south of France and his mother (Business of Fashion 2019)

Yes -The brand’s image is based on its heri tage which makes it unique and incompa rable with any other luxury brand.

Yes -The brand idenity prism elaborated above shows that the brand’s image is hard to imitate as it is unique.

Yes -Simon Porte is a the main builder of the brand image as it is emphazised through their social media channels, especially Instagram.

Long-term compettive advantage

Product innovations Yes --> Nature of luxury Yes -The chiquito bag is often sold out due its strong demand (Business of Fashion 2021)

Yes The nature of luxury and the authenticity attached to the jac quemus product, makes it hard to im mitate.

Yes The brand have se veral manufacturers around the world to produce their pro ducts: Italy, Portugal, Inde, Madacascar ( Jacquemus, 2020)

Long-term compettive advantage

Marketing strategy YES: -accessibility -proximity -community building

YES: -The promixity between consumers and luxury brands had been in demand for years, especially from younger consu mers such as Gen z and millennials gene rations that the brand targets (Business of Fashion ,2020)

Figure 2. 22: Vrio Model, Barney, J,B, 1991

NO: YES The brand has a temporary competitive advantage as the current Instagram marke ting strategy is a strategy based on proximity is a strategy that can be easily dupli cated and used by other luxury brands in the future. It is also a low-cost tool, so ea sily accessible and used by brands (Wendy K. Bendoni, 2012)

SWOT ANALYSIS

sTRENGHTS

• Coherance through strong history and aesthetic.

• Strong online precense through several touchpoints such as Instagram (Engelage, E, 2020).

• Strong brand DNA (Fashionetwork, 2020).

• Sells at a competitive p price point (retviews, 2020).

• Simon Porte has created a real community around the brand thanks to Social media.

• Has engaged with sustainability matters and more parti cularly upcycling when using materials from their previous collections with the «Les Fleurs» collection (Jacquemus, 2020).

• The brand is independant and is own only by Simon Porte himself (Deslandes. M, 2020).

• Is a contemporary luxury brand who is not answering to certain anti-laws of marketing on the contrary. They not making it hard for consumers to puchase a Jacquemus product, they do not dominate the client: accessibility is part of their identity (Kapferer, 2012).

WEAKNESSES

• Not as established as other luxury brands due to its 10 years heritage.

• Even if the brands sells at a contemporary price point it is not fully accesible by younger demographics such as the Generation Z (Retviews, 2020).

• Has not engaged enough with sustainability (Retviews, 2020).

oPPORTUNITIES

• Huge demand of young consumers such as Millennials and gen z for luxury products as they drive most of the sales. Those generations are a big opportunity for businesses as they have completely different kinds of consumption patterns which is turned around sustaianbility (McKinsey, 2020).

• The nature of luxury allows businesses to innovate around sustainainability (Marketing society, 2020).

• According to a survey conducted by MCkinsey in 2020, luxury brands willhave to innovate to reshape their business in accordance to consumers demands. Thus, the biggest opportunity for the luxury market at the moment is the luxury re-sale market which is expected to be the fastest growing sector by 2025 (Thredup, 2020).

• The last lockdowns have evolved a lot in terms of digital innovations as shoppers were using mostly online chan nels to shop due to lockdown restrictions (Globalwebin dex, 2020).

tHREATS

• Luxury sales have seen a decrease in spring sales due to the pandemic (McKinsey, 2020).

• «The health crisis and the unprecedented disruption caused by covid-19 have had a profound impact on economies businesses and consumers worldwide, changing the way consumers live, work and shop» (Euromonitor, 2020)

• There is a 30-40% decline in purchasing intent all over Europe according to a survey conducted by Mckinsey in 2020.

MArket size and makret growth

Luxury market size and growth

The luxury fashion segment was worth USD 40,410 million in 2021 and expected to grow every year by more than 5% in the next five years (Satista, 2021).

Luxury resale market size and growth

According to Verified Market Research, the Global Luxury Resale Market was valued at USD 16.23 Billion in 2018 and is projected to reach USD 68.53 Billion by 2026, growing at a CAGR of 15.53% from 2019 to 2026.

luxury E-commerce market size and Growth

The gloabl e-commerce was worth $4.28 trillion in 2020 and is expected to grow to 5.4 trillion dollars by 2022 (Satista, 2021). More precisely, luxury online sales made up USD $59,9 billion in 2020 and has nearly doubled since 2019. It is expected to reach around $110 billion by 2025 (Bain & Co, 2020) (FHHJournal, 2021).

Demand drivers sustainability perspective

When answering to the question “which of the following environmental issues are most important to you ?”: 47% answered plastic pollution and 37% answered climate change (Mintel, 2019)

According to a survey conduc ted by Mckinsey in 2020, 3/5 of consumers consider that environmental impact is a key purchasing motivator when engaging with a brand.

SEcond-hand perspective

1/2 of consumers are re-directing their consumption towards sustaianability and circularity (Business of Fashion, 2020)

«I think is majorly important for brands to engage in general with todays issues but specially with climate change since the fashion in dustry is one of the biggest polluters at the moment, consumers are more aware than never and if brands don’t engage they will suffer the impact of consumer choices.»

(Lola, 21 yeard old) (appendix E)

Luxury perspective

½ of gen Z and millennials

are willing to purchase cheaper version of the products they usually buy (MCKinsey, 2020)

“In essence, a single garment can create value repeatedly — through sale and resale, repeated rental, or being sold, repaired, returned, refurbished, or recycled, and resold again to start the loop over. » (Business of Fahion, State of Fashion 2021)

According to a survey conducted by Euromonitor in 2019 for Fashion & Sutainability research insight, 43% of the answerers have bought second-hand fashion items already and 35% have sold unwanted fashion items.

According to a survey conducted for Primary research* which re grouped 40 respondents mostly aged between 18 and 35 years old: When asked if they have ever resold/ bought second-hand in the past, 91% of them answered «yes».*

According to a survey conducted for Primary research* which regrouped 40 respondents mostly aged between 18 and 35 years old: When asked if luxury brand should in troduce more circularity in their business mode, 67% answered «definetely agree».

There’s a huge demand expressed by consumers for less new and an un deniable motivation for buying more “long lasting and high-quality pro ducts» (McKinsey, 2020)

«These young consumers (Gen z and millennials) are also empowered with the knowledge of exactly how much their items are worth on the secondary market» (WGSN The resale market boom, 2020)

The democratization of luxury is explained by the social recognition it implies. This phenomenon is reflected by the appearance of the logo on luxury goods/ products and thus al lows a consumer x to be more considered among the crowd. (Kapferer, J N and Bastien, V. 2012)

retail perspective shopping pattern and social media usage

63%

of Global consumers pur chased online in 2020 (GlobalWebIndex,The ecommerce trend to know 2020)

Over the last year, the fashion ind sutry has witnessed an important sales increase within digital selling platforms. Those went from 16 to 29% overall.

(Business of Fashion, The state of Fashion 2021, 2021)

More than

of consumers said that most of their garment shopping is happening on e-commerce platforms (GlobalWebIndex,The ecommerce trend to know 2020)

«Years of online innovation and chage happened in a matter if months, as brands focused on generating revenue from the only channel available in many markets e-commerce”

(Business of Fashion, The state of Fashion 2021, 2021)

«The surge in ecommerce demand is mainly thanks to existing online shoppers buying more products online than they typically bought instore before the pandemic.» (GlobalWebIndex, 2020)

It appears that consumer’s life is not only happening solely offline but on line too. To this effect, fashion actors must be aware of those online activities in order to properly answer’s their consumer’s demand.

(Chaffey, Dave, and PR Smith, 2013)

Forecasts of future market demand.

Luxury market

It is expected that as the luxury sector evolve in time, the demand for luxury goods from younger consumers such as Generation Z and Millennials will continue to rise. Indeed, those consumer will make up 45% of the overall luxury market target group within 5 years (WGSN, The Resale Market boom, 2020).

Luxury resale Market

«The call for “enter-tainmerce” has come loudest from high-income earners (32%) and mil- lennials (33%), so there is some serious spending up for grabs.»

(GlobalWebindex, The ecommerce trend to know, 2020)

In light to the current state of the world regarding climate change, The Thredup report highlights some key infographics that cleary demonstrate that the resale market trend is still at its infancy. Indeed, it is projected that this method of consumption will be the main source of garment purchases when the traditionnal retail sales is expected to shrink by 2026 (thredup, 2020) (APPENDIX G).

Online luxury market

As the world is slowly coming out from a period of pandemic, it seems that digital purchases will continue to thrive in terms of demands (Business of Fashion, State of Fashion, 2021). Especially when it comes to luxury sales as they will make up 20% of the overall retail sales by 2025 (Mckinsey, 2020).

Market demand risk and opportunities

online Luxury resale market

Risk:

- The luxury resale market has come as an opportunity but also a risk as the precense of couterfeit goods are a big concern for the luxury actors and consumers ( Kansara, A, K, 2020).

-There is a considerable lost of item value when purchasing a second-hand luxury product via a resale platform as it is more accessible and thus the exclusive aspect attached to the product is less significant ( Kansara, A, K, 2020).

- Primary research showed that consumers demand for digital resale platforms loyalty was rising as almost 40% of them has already made purchase/ resold porducts on those platforms

Opportunities:

A survey conducted for primary research showed that consumers were willing to purchase second hand luxury product if the resale area is dependant of the brand as it give them more trust (Appendix: Primary research survey results)

93% said yes when aswering to the question: If a luxury brand would diversify their services by creating a re-sale area, would you try it ?*

90% said yes when aswering to the question: do you think you would have a trusted experience? *

Competitive intensity porter 5 forces

COMPETITIVE RIVALRY BARGAINNING POWER SUPPLIERS BARGAINNING POWER OF BUYERS

Online Luxury Resale mar ket:

The competitive rivalry among the online luxury re sale market is high. - They are already existing powerful actors performing in this specific market (Won der, 2020). Vestiaire collec tive and the RealReal already occupies a good share of this market. Indeed, those two consigment platforms have known an increasing success amassing respectively $209 million $84 million of revenue in 2018 in 2020 (techcrunch, 2020). They are both offe ring similars services when it comes to storage and pho tographs of the resold pro ducts (Wonder, 2020).

Online Luxury resale mar ket: - The bargaining power of supplier is high.

- This force is the most pressing as consumers are suppliers here. The stocks are created thanks to the latter. They are usually the ones putting the price on the products and forces platforms to operate in function of this factor. The resale market concepts would not exist without this force.

Online Luxury resale mar ket:

- The bargainning power of buyers is high.

- The demand for the se cond-hand products is ri sing. As explained above, the second-hand market to be worth $68 billion by 2026, which makes this power definetly pressing.

- Moreover, the resale market consitutes a high share of Gen Z consumer which is elevated at 70% for this cohort (Thredup, 2020).

THREATS OF SUBSTITUTE PRODUCTS THREATS OF NEW ENTRANTS

Luxury resale market: Threat of substitute pro ducts is high.

Luxury resale market:

-The threat of new entrants in the luxury resale market is high as the trend is rising.

-The resale market trend is still adopted by the «early majority» and «innovators» (Roger, 1994) (Appendix H). This means that this threat is characterized by the implementation of resale services by luxury brands that offers consu merw the benefit of ex periencing a luxury brand through their second-hand and resale area. Consumer could feel like they have a safer experience in terms of price estimation of their product and consumer journey.

-Luxury Brands are adopting the trend more and more to gain profitability. In recent mobnths, many collaborations have seen the lights such as the between Gucci and The realreal. In order to lower this threats, resale plat forms have to innovate arround their services in order to gain market share and to still be used in the long run.

- Consumers will thus shift to this type on consump tion when engaging with second-hand luxury.

Porter five forces model is used below to analyse the resale luxury market and Jacquemus competitive environment

pestle analysis

Political

« Foreign trade is anticipated to rebound gradually in the me dium term, supported by the Brexit trade agreement, an ea sing of lockdown measures, and the economic recovery in the country’s main trading partners » (EUROMONITOR, uk country report, 2021)

Environmental

- European Commission has adopted « a circular economy ac tion plan » in 2020 which focused on increasing the re-use of textiles in this sector: A number of targets were then agreed by the European Parliament to make all business activities more carbon neutral and to make the economy 100% circular by 2050. These targets have led to stricter rules on recycling and single-use material (Europarl, 2020)

Social

- The virus and lockdown measures has accompanied the rise in unemployment which led to a reduction in wages and consu mers incomes (Passport, 2021)

- According to a report about the global economy conducted by Passport earlier this year, the « capita expenditure will fall by 5,2% and those numbers are estimated to go back to normal by 2022.

Technological

- Home shopping has become the new consumption as lockdown forced entire population to develop new habits (Eu romonitor, 2021).

- Strengthening of digital and e-commerce innovation (Euro monitor, 2021).

- The commerce industry has seen 6 months worth fo innovation over 2 months of lockdown (Business of Fashion, the state of Fashion 2021, 2021).

Economy

- The global Economy is expected to know a exponential growth in light of the easing of containment measures (PAssport, 2021)

- The Eurozone is expected to know a 4.0 GPD growth in 2021 (Passport, 2021)

- In terms of business and consumer confidence, it is most likely that the global economy will come back to the 2019 « average » within the following months (Passport, 2021) (APPENDIX I & J).

Legal

- Paris agreement are forcing businesses to act in accor dance with today’s climate challenges and to respect laws concerning recycling and circularity (chron, 2020).

Y

S T R A T E

Y S T R A T

Justification of the proposed artefacts

Will this innovation have a positive social and environ mental impact ? (Integrity)

What do consumers want ? (Desirability)

The demand expressed by younger generations gen z and millennials, which both the online luxury resale market and Jac quemus target have been analysed and it has been concluded that:

- This demand is driven by the desire of these consumers to be able to access authentic luxury products at lower prices (McKin sey, 2020). A survey conducted for primary research showed a firm interest in luxury when the participants - mostly aged between 20 and 25 years old- were asked if they buy luxury goods, 37% answered yes and 22% answered that they intended to.

-More sustainability from luxury business:

Primary research as shown a rise in demand for more circulatrity: When asked if luxury brand should include more sustainability in their business, 65% of respondents «definitely agreed».

- More online experiences: external insights showed that also ¾ of those consumers have purchased online in the last year (GlobalWebIndex, the ecommerce trend to know, 2020). Plus, another demand driver is the fact that these two generations expressed their preference for online experiences over the pro duct itself which allows the brand to innovate around that when implementing its resale area.

- The solution relies on second-hand luxury which is a type of consumption that in addition to being sustainable also allows those groups of consumers to express themselves in society by wearing these products known for their quality and durability (Kapferer, J N and Bastien, V. 2012).

According to the triple bottom line model, the brand will ultimately be more profitable as the service answers to today’s environmental challenges (Elking ton, J., 1994).

Planet: - They have already engaged with upcycling with their last collections «Les Fleurs’ ‘. The implementation of this service could be the continuation of their path towards a more sustainable business.

-They will also respect external laws shown through the Pestle analysis in terms of circularity and sustainability.

-People: - Their small heritage allows them to innovate according to today’s consumer’s demand. The community aspect will be emphasised as the service will support and wi den this already existing community around the brand (People) (Elkington, J., 1994). profitability

DESIRABILITY

Planet People

Integrity

vIABILITY

Artefact

1 The resale area within the brands website

Will this innovation will support the bussiness success? (viabi lity)

The brand’s internal research has shown that the overall business could be positively impacted by the implementation of the new service:

-The innovation will answer to a large demand of consumers the brand already targets, Generation Z and Millennials.

- The service will position them even more as a Fashion forward brand in terms of recycling as it is based on circularity (McAr thur Foundation, 2020).

-It will also strengthen their position as a luxury contempo rain brand. Indeed, the idea of creating the resale area on the existing selling e-commerce platform allows the brand to pre serve its image and identity in terms of marketing strategy and its equity as a contemporaneous luxury brand.

SWEET SPOT:

A resale area and a second-hand category implemented on the official Jacquemus website.

Figure 4.2: The sweet spot model The innovation board, 2020

Figure 4. 1: The tripple bottom line model, Elkington, J., 1994

How can new technologies help achieve the innovation? (feasibility) E-Commerce platform:

New technologies such as the ones linked to the inter net such as e-commerce and social media will be used to im plement the innovation. The innovation will be set up through the official Jacquemus website.

SEOIn terms of marketing Search Engines optimization will be used in order for the resale area to be the first thing a consu mer see when searching «Jacquemus» on a search engines. Google analytics will be used to monitor the performance of the new service.

Justification of the proposed artefacts

Artefact 2 PROMOTION OF A SERVICE VIA A SOCIAL

In light of the secondary and primary research that has been conducted internally and externally it has been found that the brand has found the right strategy tool to target their target consumer: social media campaigns.

For instance, the internal analysis has shown the importance given to the Instagram account when it comes to the promotion of the brand (The business of fashion, 2020). The relationship of proximity between the brand and the consumer is created thanks to the Instagram account. This relationship of proximity is explained by the current interactions taking place between the community manager, Simon Porte and the consumers (Engelage, E, 2020). These interactions are carried out through various stories and posts all made by Simon Porte himself. This creates a feeling of belonging to a commu nity for his followers. Plus, the omni-channel strategy is emphasized through the «shop» feature that the Instagram page has in order to drive consumers to the website.

Consequently, the promotion part of the project will aim at en hancing the existing social media communication strategy by creating and using a variety of owned and earned media to promote the brand’s new proposed service (Dietrich. G, 2014). Those will come at the essentials of the campaign to promote the service.

Types of media through the Peso model (Dietrich. G, 2014).

This will be undertaken throughout owned medias:

Instagram 3 Posts & stories :

o The posts: will be created by Simon Porte himself and posted on the Instagram after the launch of the proposed service. There will be three different posts (what the brand already does when it comes to creating promotional posts) displaying questions about reselling and second-hand. The posts’s captions will be used at delivering information about the proposed service, and explaining the aims of this project. Those posts will respect the overall brand’s aesthetic and will enable the brand to maintain the initial «visual impact» strategy. It will also enable th ebrand to keep interacting with its consumers and utilmately increase the Instagram’s post comments and likes.

o There will be several stories pre, during and after the launch of the service that will aim at first tease and attract current consumers before, during and after the launch of the proposed service. Second, to repost the 3 different posts in order to promote them. And finally, to receive consumer’s insight about their experience when reselling their Jacquemus’s products through Q&A’s.

Facebook sponsored posts:

Facebook will also be used by the brand when promoting the new service to let the Facebook followers know of the current’s brand’s activities and to raise awareness around the brand.

The brand will also promote the proposed service on Facebook and use the exact same format in terms of posts.

The posts will use the same kind of questions used for the Instagram to respect the brand’s omni-channel communication strategy.

They will be posted on the same time frame as the proposed service launch: after the launch of the platform.

Justification of the proposed artefacts

Jacquemus will also use a “new” earned media by partnering with many loyal consumers that will be considered as the “Relive am bassadors”. This will be carried out thanks to celebrity endorsement (McCracken) such as micro influencers and celebrities targeting the same kind of consumer’s cohorts.

The brand will ask two influencers Tamara Kalinic and Sofia Coelho to promote the new service on their most used media.

Tamara Kalinic: Jacquemus will partner with Tamara by paying her to write a blog post on her personal blog called Glab and Glitters to talk about the new service. She will be proposed to resell or to purchase a second-hand Jacquemus product and write about her journey as a reseller or a pre-owned purchaser.

Sofia Coelho: the brand will ask her to create Instagram content featuring her with a product from the new JAcquemus second-hand category. She will thus create «Sponsored by Jacquemus» post. in the caption she will ask to mention the brand and the new service but to also talk about her second-hand experience.

Those partnerships will happen three weeks after the launch of the service. It will enable Jacquemus and the ambassadors to raise awareness around the brand. Ambassadors will also enable the Jacquemus audience to grow. This increase will also allow the acquisi tion of new customers.

Artefact 2 PROMOTION OF A SERVICE VIA A SOCIAL MEDIA

Tamara Kalinic

Tamara Kalinic, 32 is a Bosnian fashion and lifestyle blogger and YouTube based in Paris. Her success is mostly due to the blog « Glam and Glitters » in which she displays her looks, the new product she previously purchased. She also has a YouTube channel in which she vlogs and transcribes her blog writing into videos (GlabandGlitter, 2020). Her activity on Ins tagram is a important factor as she gathers 1 million followers.

Her post is a variety of looks featuring luxury products from Dior, Hermes and Louis Vuitton. She is also doing a lot of product promotions with the brands she is partnering with such as Micheal Kors.

She is also a loyal Jacquemus consumers, and could have the potential to properly promote and talk about the proposed service.

Sofia Coelho, 24 years old, is a fashion influencer. She has become extremly popular on social media platforms but especially Instagram on wichi she currently gathers 600K of followers, mostly Gen z. Her style and look features a lot of second-hand luxuryproduct purchased on Luxury resale platform such as Vestiaire Collective.

She is a loyal Jacquemus consumers. A few of a post features Jacquemus products, especially bags and clothings. She could also have the potential to properly promote and talk about the proposed service.

Sofia Coehlo

Strategy smart objectives and kpis

As mentionned in the proposal, the selected artefacts will have differents goals and smart objectives elaborated through the RACE model :

REACH

To grow Jacquemus's com munity through the variety of owned, paid and earned media proposed by the brand.

ActIt will increase consumer’s interactions through the different social media channels.

CONVERT

It will also allow to boost sales and revenue ENGAGE

1 Aims 3

To increase consumer’s loyalty towards the brand and it’s resale area.

Increase brand’s awareness: To Increase consumer visits on the website by 10% within 6 months after launching.

• Increase Instagram drives towards the website by 5% within 3 months.

• To increase social media enga gement by 5% within 3 mon ths after launching.

Smart objectives

Increase sales by 10 % within the end of 2021 through the resale area.

Increase the amount of subscription/number of account created on the Jacque mus website by 20% within 12 months after launching Relive Jacquemus.

1. The brand will use a variety of metrics in order to control the success of the service.

--> Pages views will allow the brand to monitor how often a visitor will en gage with the e-commerce platform (OSman, M, 2019). Page views are ea sily controled through Google analytics which can be a low cost control alternative.

--> Micro View: will be a tool to identify the time spent by visitors on the website (OSman, M, 2019). Google analytics will also make it easier to get this information.

2. The brand will use a variety of metrics in order to control the success of the service.

--> Social media engament will be controlled by the several insight ac cessible by the brand within the social media app. Those insights are based on:

K P

• The number of consumers reached: the number of unique accounts that have seen the post (Instagram, 2020)

• The number of follows: the number of new followers after the post of the sponsored spots.

• The number of Impressions: the number of times the post has been seen.

IThe increase of those three insight will ultimately increase the number of comments and likes (instagram, 2020)

• Instagram leads to the website are going to be measured through the converstion rate (Hootsuite, 2020). It is the number of users who clicked on «view on the website» after seeing the sponsored posts (Call to actions)

3. The sales growth indcators will be tracked thanks to monthly growth sales which will enable the brand to have an overview of the sales perfor mance on a monthly basis until the end of 2021. It will show whether the implemented service is effective. if there is a clear difference in revenue between the time it is released and the end of the year.

4. The number of acount created will be monitored through Customer Acquisition cost.

Name: Alexandra Bow Age: 20 years old Occupation: Second year student at the London college of fashion

PERSONNALITY: Extravert, open-minded, ambitous Location: London, zone 2 Relationship status: Single

Biography

Alexandra is a fashion student in London. Very aware of what is happening in the fashion industry at the moment when it comes to en vironmental challenges she has always tried to find new eco-friendly consumption patterns. She is always seeking for durable and high-qua lity products that the luxury sector offers. Unfortunately she is not able to afford those products at full price. She thus, uses reselling and se cond-hand multi-brands online platforms to purchase those types of high-end items at a lower price point. However, basing her brands and purchasing platforms choice on trust she is not always feeling safe and is always worried to purchase non-authentic luxury products.

Motivations

PRICE QUALITY

DIGITAL EXPERIENCE

Personnality

ECO-FRIENDLY

Goals

To have a 100% environementally friendly consumtpion. -Purchase durable products

- To have a trusted experiences when engaging with digital purchasing experience

Frustrations

- Due to her low-incomes she is not able to afford ethical and sustainable brands.

-To not be able to fully trust brands because of their lack of trensparency and sustainable prac tices.

Name: Lola Smith Age: 28 years old Occupation: Works as a pr for a communication agency 5 days a week. Location: She lives in Paris in the 11th district Relationship status: Married but doesn’t have kids

Biography

Thanks to her job as a Pr, Lola benefits from high incomes that enables her to spend money in luxury fashion garments. She is image-driven and always follows the latest trends to showcase it on social media such as Instagram. Her consumption patterns rely heavily on online and digital experiences. She is also conscious of the current environmental issue the world is facing. The pandemic has allowed her to discover new brands and new ways to develop a more sustainable approach when it comes to garment purchase. She is also willing to pay a lot in order to be her most authentic and unique self. Her style is mainly extravagant but she likes to keep it simple sometimes by mixing pieces with flashy colors.

Motivations

PRICE AUTHENTICITY EXPERIENCE

Personnality

ECO-FRIENDLY

HIGH-QUALITY

Goals

She favours experiences over products.

-To not look alike the rest of the crowd.

-To have a consumption that will not harm the environement.

Frustrations

- She would like to shift her consumption towards sustainable consumption patterns by purchasing less new items.

- She thinks luxury brand should listen more to consumer’s demands.

The position map on the right shows the competitive posi tion the brand will have after implementing and promoting the proposed service. The map is based on two different criterias:

It is documenting its position on how «Fashion Foward» the brand will be. In other words whether it will meet consumer expec tations regarding environmental issue within the online sphere. And where it will stand in terms of modernity compared to its competitors which seems to have a more traditionnal selling strategy based on exclusivityand scarcity.

Fashion backward

Contemporain Luxury brands

Traditional Luxury brands

Fashion forward

Results:

It has been concluded that the brand will be considered as more fashion forward brand when engaging the resale market that has for core value, circularity (McArthur foundation 2020). In terms of promotion, they will also be as more FAshion foward as they raise awareness around sustainability and recycling through the influencer campaing strategy. It will also allow to differentiate themselves from its competitors and thus sustain their competitive advantage to remain profitable in the long run (Barney, J, 1991).

The results is reflected by the arrow going from the current brand’s position to the future brand’s position after launching the proposed service.

Existing products

In light of the research that have been undertaken through the first through section of the project and the artefact justification that has been car ried out: Ansoff Matrix comes as a useful tool to precisely determine what Jacquemus will do strategically when implementing Relive Jacquemus and the the second-hand category.

The proposed service and its promotion comes as new one in a existing market targeting the same consumer cohort as the luxury resale marlet, the generation Z and Millennials.

The brand will use a service development strategy (illustrated on the right). This service development strategy will allow consumers demand that are targeted in both Luxury resale market and by Jacquemus to be satisfied and heard. It will also grow their audience through the promotion of the service thanks to the social media campaign emphasized by the influencer communication strategy.

Existing market

Market penetration stratetgy

New Products product development strategy

Market development strategy New markets

Figure 4.12: The Ansoff Matrix, Ansoff. H.I, 1957

Diversification Strategy

A R T E F A C T

S A R T E F A C T S A R T E F A C

Consumer journey

The reseller journey

The resale area, called «Relive Jacquemus» will be elaborated in the form of a consumer journey in order to determine each steps a consumer will go through when deciding to resale one of its products. This artefact will therefore comprise 10 steps in which the consumer will have to carry out different actions in order to re-sell his product. the goal here is for the consumer’s resold product to arrive in the pre-owned Jacquemus category in order to be sold again.

Consumer journey

The reseller journey

Step 2: After clicking on the RELIVE JACQUEMUS, the consumer will arrive on this page, which will wel come them to the resale area. This page will display the service value proposition aiming at offering a 100% trusted experience when reselling their pre-owned Jacquemus product. The round around dis played is an illustration of circularity, the resale core value and the bag is an example of what would be the product that could be resold. If the consumer decides to sell a product they will have to click on «I sell» shown at the bottom of the designed page.

RELIVE JACQUEMUS

The first thing the consumer will see when arriving on the e-com merce Jacquemus platform will be this home page post RELIVE JACQUEMUS launch. The Relive jacquemus is dis played in capital letter and next to the three categories to attract the consumer’s attention.

If the consumer is looking to its product he will have to click on this page (Showed witth the mouse)

Welcome to RELIVE JACQUEMUS

Consumer journey

The reseller journey

Step 3: The third step of the consumer journey will focus on the account. The account, a service already proposed by the brand, will allow the consumer to resale as many products as he wants. It will also enable the consumer to keep track of the product’s reselling process. So when clicking on the «I sell» they will be proposed to log in in their account or to create an account.

Consumer journey

The reseller journey

If

Log In Account creation

Welcome to RELIVE JACQUEMUS

Consumer journey

The reseller journey

Step 4: The consumer will thus have access to his account. The start of the resale part will ultimately happen through this area. They will have to click on the «resale area» if they want to resell their products.

Consumer journey

The

reseller journey

Step 4: The consumer will thus have access to his account. The whole process of a product reselling will happen through this area. The consumer will be able to track the resale process, but to also know which of its products has already been sold. They will have to click to go to this area to start the reselling process by clicking on «Resell a new product». Here we will consider that the consumer uses the resale feature for the first time.

Welcome to your resale area!

Resell history

Resell a new product

Resale area

The reseller journey

Step 5: By clicking on the resale account they will arrive on a step-by-step form applica tion to see if the product the consumer wants to resale is eligible to be resold. They will have to answer a few questions based on the nature of the product: such as the range it is from, the size, the color, the when and where was it purchased and finally, its state (bad, medium, good, perfect quality) . Below is presented the form process. The ques tionnaire was based on what a consumer might answer if they wanted to resell a bag for example.

Consumer journey

The reseller journey

The first question will be centered on whether the consumer sells a product from Womenswear or menswear collections. Here the x consumer will choose to sell wo menswear products.

The second question is more specific and aims at determining which range of product, the re sell product belongs to. The range here is the current pro duct’s range sold by the brand. The x consumer would like to re sale a bag.

The «Chiquito» has many sizes, so automatically the brand will ask the consumer the size of the product he wished to resell. Jacquemus.com Online reseller Store reseller

The 6th question would aim at precising the color of the product, in order to be as spe cific as possible when giving the product’s information.

The date will aim at determining the collec tion the product is from. To determine the lifespan of this product and to give even more precision as to its resale ability.

The place where it was purchased is also necessary to provide additional informa tion on where the product came from. It al lows the sales team to have additional data on where their consumers buy.

Consumer journey

The reseller journey

9. How many times did you wear it ?

Never been worn and still has the tag.

Has been worn once or twice.

Has been won more than

Has been worn daily since its purchase.

This question will provide the sales team with additional information on the quality of the product. The less the product is worn, the more likely it is to be resold.

10. An estimate of its current state. Perfect Good Medium state Bad State

The team does not expect the client to have precise expertise on the current quality of the product. On the other hand, this detail may be important for the continuation of the sale, because if the product is of «low quality» from the start, the sale will less likely happen.

10. Do you have a purchase receit ? Yes No

11. Include an image of the product: the product must be presented in good lightning in order to allow the sales team to check its current state.

Consumer journey

The reseller journey

Step 6: After submitting the resale application, the customer will receive an auto matic confirmation email. The email will include the estimated time it will take the team to review the application and to check if the product is eligible for resold.

The receipt is also a decisive step as it allows the beginning of the authentication of the product. Indeed, in the absence of the re ceipt the resale can be slowed down. Therefore, the authentica tion process will be a little more complicated for the sales team. However, they are not compulso ry because the team’s expertise will advise when they see and analyse the product as a whole.

The image is mandatory and must be included in the appli cation so that the team can have an overview of the product. It is another step in the process of au thenticating the product.

Dear Client, Thank you for trusting RELIVE JACQUEMUS for the resale of your product. Your application will be reviewed and considered by our sales team. A member of the team will get back to you for the rest of the resale. We are short staffed, so this may take 5-10 days.

If you have any query concerning the resale of the We hope to have satisfied you so far

We wish you a very nice day, See you soon, The Jacquemus sales team

The reseller journey

The reseller journey

Consumer journey

The reseller journey

Step 7: When the evaluation of the application by the sales team is completed, the consumer will receive an email. This email will contain a decisive information: whether the first step of the resale has been successful or not (which rarely will be the case as they are engaged to give a second life to every-resol products). This is an example of what the mail would look like if the first step of the resale was not successful. The brand has the right to refuse to receive a product if it considers that the product is not worth reselling. The brand would justify that it does not meet their criterias in terms of quality and condi tion. That they are afraid that the product will not be sold at all. This will also enable Jacquemus to be 100% transparent with their consumers.

Consumer journey

The reseller journey

Step 7: However, If it is successful, the email will be automatic and will ask the consumer to send the product to an address (Jacquemus head office) so that it can be properly authenticated. Hovever the customer will have the choice of an alternative he is not able to send the produt for geo graphic reasons.* It will lead to a price estimation. The team is entirely responsible for the price estimation as it gathers experts who will be able to determine this price precisely according to the quality, the condition, the demand on the market and its rarity. This estimate will allow the product to be resold at its fair value and will allow future buyers to purchase the product in complete trust and safety.

Dear customer,

Thank you for choosing RELIVE JACQUEMUS!

We have reviewed your application and we are forced to refuse your application.

The product offered for resale does not meet our criterias for quality and condition reasons. We are afraid that it will not sell as you expect. Our team feels it is necessary to be transparent with our customers in order to offer them a service based on trust and confidence.

You can contact us for any further information regarding this refusal,

We hope to see you soon on our platform, We wish you a pleasant day,

The Jacquemus sales team.

Dear Client, Thank you for trusting RELIVE JACQUEMUS for the resale of your product. Your application has been reviewed and we are delighted to announce you that it meets our resell criteras!

You have entered the second step of the resale process. The best for you would be send the product to the adress shown below in order to properly authenticate the product. We will let you know when you’ll receive it. However, if for geographic reasons you are not able to send the product, we can propose a few alternatives. If it is the case, please answer this email in order to book a video phone call with a member of the sales team.

In terms of price estimation, we will give you one post-authentification to give you the best value price.

69 Rue de Monceau, 75008 Paris

If you have any query concerning the resale of your product, please email us at boutique@jacquemus.com We hope to have satisfied you so far

We wish you a very nice day, See you soon, The Jacquemus sales team

*This has been assumed as it is not cer tain that a authentification can happen via video call or not.

Consumer journey

The reseller journey

Step 8: If for geographic reasons the customer is not able to send the product a phone call will happen with a member of the sales team via the brand’s whatsapp account to properly authen ticate the product. In the case of the authentication happening through a phone call, the steps explained in the folowing pages will be the same exept that the consumer will take care of the shipment of the product to the new owner. The shipment cost will be refunded by the brand. On the second-Jacquemus category, the product will be displayed with the images originaly sent during the application step.

Consumer journey

The reseller journey

Step 8: If the consumer can send the product: This step will thus lead to the shipment of the product to the parisian head office address to have it authenticated. 69 Rue de Monceau, 75008 Paris

Consumer journey

The reseller journey

Step 9: The physical inspection will take approximately takes place in order to check if:

It is not counterfeited:

• The label, the shape, the material used is the same used by Jacquemus factories.

• The sales team will have an inventory of every JACQUEMUS product created and put on sale and that will enable them to analyse and to compare how physically the product should be.

• That its state will satisfy the future product’s owner.

• To note down every defect the product will have: scratch, holes etc..

• This physical inspection will enable to give as much information about the state and quality of the pro duct as possible to the potential new product’s owner.

• It will also enable them to give an exact product’s price value to report it to the previous owner.

Consumer journey

The reseller journey

Step 9: At the end of the authentication, the brand will re-contact the consumer in order to let them know that it has been properly authenticated and that it is ready to be resold. More importantly, the sales member will give the consumer an exact price estimate. This price will not be negotiable as the sales team is expected to give them the best price for the second sale of the Jacquemus product. However the consumer will be able to choose how to receive the money post re-sale: a Jacquemus Voucher, to spend on Jacquemus.com or a «refund» via a bank transfer. The consumer will answer the email and the choice will be taken into consideration by the brand.

Dear customer,

We have conducted the product authentication and we are pleased to announce that the product authentication has been successful.

The price of the product considering its quality, condition and rarity on the market is es timated at €...

We remind you that this price is the final price with the percentage we take at the end of the resale. The product will be added to the Second-hand area so that it can be sold.

When this happens, we would like to know how you would like to be rewarded for this resale?

With a voucher or a «refund».

Please reply to this email with this information, which we will record and take into consi deration after the resale.

Thank you for your patience and loyalty,

Have a nice day,

The Jacquemus sales team.

journey

The reseller journey

The 10th step of the consumer journey will be the display of the product on the Se cond-hand area. The product will be photographed in order to respect the website aesthetic. It will enable the new potential owner to have an accurate overview of the product’s condition. Plus the reselling process will be updated on the customer’s resale area account.

If the consumer has resold a bag, when clicking on the second-jacquemus, and then bags, they will see the bag displayed.

SECOND JACQUEMUS

SECOND-JACQUEMUS

Consumer journey

The reseller journey

This is what the reselling process product page will look like once the product has been authenticated and displayed on the second-Jacquemus area.

Consumer journey

The reseller journey

When the product will be resold, it will be automatically displayed on the resold product area of the consumer’s account.

Welcome to your resale area!

Resell history

Reselling process

Resold products

Welcome to your resale area!

Chiquito Womenswear

Bag - Brown- Snake Good state

Purchased on 18/12/2020 on Jacquemus.com

Worn once

Receit: Included

Photo of the product

Process: Authentification successful!

Resell history

Reselling process

Resold products

Photo of the product

Chiquito Womenswear Bag - Brown- Snake Good state

Purchased on 18/12/2020 on Jacquemus.com

Worn once Receit: Included Process: SOLD

Consumer journey

Consumer journey

Secondjacquemus area consumer Journey

As explained in the rationale, Jacquemus will introduce a second-hand area in which will be displayed every authenticated pre-owned Jacquemus product. Jacquemus will be able to purchase those products at an exact estimated resale price. In order to properly understand this part of the service, it will be explained as well in a form of a consumer journey.

Secondjacquemus area consumer Journey

Step 2: When clicking on the Second-Jacquemus category he will have to click on one of the categories in which second-hand products are available. For instance, if he wants to see the second-Jacquemus bags, he will have to click on «Second-Jacquemus» and then «Bags’ ‘. Designed this way will allow to falliciate the consumer journey and to not bring him confusion.

The first step of this consu mer journey will focus on the website visit. The consumer will have to go to the official Jacquemus website and click on a product category «Wo men» or «Men». By clicking on one of these categories the current cate gories will appear as well as a new one: «Second Jac quemus». This is where the consumer will have to click if he wishes to access the avai lable pre-owned Jacquemus products.

SECOND JACQUEMUS

SECOND JACQUEMUS

Consumer journey

Secondjacquemus area consumer Journey

Step 3: After clicking on the product category «bags» it will display every bag that has been previously authenticated by the sales team and sent by the first owner. The display is the same used for the current collection product to respect the web site aesthetic and the brand’s image.

Consumer journey

Secondjacquemus area consumer Journey

Step 4: When clicking on a second-hand item they will arrive on the product page. The product page will display information done like on the current collection product’s pages such as the color, the name and description. However other information will be available: every information about the product given by the first owner and the conclusion made by the sales team post-au thentication: the state, the price estimation/ the original price, the collection issue. The new price will be placed on the ADD in my bag section. Here is an example of how the product page would look like.

SECOND JACQUEMUS

Collection SS2021

Initial price: 525 € Good quality, has been worn twice. Defects: Visible stain in the inner part of the bag

Step 5: After deciding to purchase the bag, they will have to click on ADD to add it on his cart which will lead to the transaction. New price €

Consumer journey

Consumer journey

Secondjacquemus area consumer Journey

Step 5: After adding the bag to his cart it will lead to the transaction part. The cart will look like shown below, with the new price. By clicking on the checkout button (shown by the mouse) they will be directed to the transaction steps as they were purchasing a product from the current collection.

New price €

New price €

New price €

Secondjacquemus area consumer Journey

Step 6: 4 different steps encompass the transaction part:

Step 1: They will have to fill their personal details: email & PAssword if they are already logged with their account

Step 2: They will have to ship their shipping details: address and phone num ber.

Consumer journey

Consumer journey

Step 6: 4 different steps encompass the transaction part:

Secondjacquemus area consumer Journey

Secondjacquemus area consumer Journey

Step 7: They will then receive an email confirmation summarising the whole order: what they ordered, the date the order has been placed, the delivery address, the delivery address, the ship ping address.

to have trusted Second-Jacquemus!

Step 3: After including their shipping address they will have to choose a delivery method: Ups: Standar: Delivery to France within 2 to 4 working days which is free/ Ups Express: Delivery to France within 1 to 3 working days which costs 25 euros.

Step 4: They will then choose a payment method and add their information to com plete the transaction.

Consumer journey

Secondjacquemus area

consumer Journey

Step 9: Depending on their shipment method they will receive the product in the initial Jacque mus Packaging enabling them to fully live the Jacquemus experience.

Consumer journey

Secondjacquemus area consumer Journey

Step 10: The final step of the consumer journey will be that the brand will give out a vouvher or a refund at the amount of the product’s price. The customer will be able to spent it on the official Jacquemus website or in-store.

Figure 5.1

Secondjacquemus area

consumer Journey

Step

11: Post-purchase and

post

re-sale, the customer will have access to Jacque

mus customer service as explained in section 2 to increase consumer loyalty. Shown below is the several contact information that a consumer could use to get in contact with the brand if they have any query concerning their post-resale and post- purchase journey.

promotion part

INSTAGRAM

OWN MEDIA

Stories pre-launch

As explained in the last section, the aim here is to respect the brand’s current communication strategy. It the refore takes place online and more particularly on social networks. The promotional strategy will therefore focus on this strengthening of Jacquemus’ presence on social networks.

Simon Porte will be the community manager of the campaign. The sto ry presented here is an example that could serve as a teaser to prepare current customers for the arrival of a new feature in the business.

INSTAGRAM

OWN MEDIA stories pre-launch

The following story will be shared two weeks after the one presented above in order to continue to attract the eye of current and potential new customers.

It will be made in the form of a «Q&A» , an Instagram feature already used by Jacquemus for the release of its previous collection «PINK».

The question asked will be «Do you believe in circularity?» . The question aims at understanding Jacquemus’s followers point of view on that sub ject. It will also allow them to interact with the brand by answering to the proposed story showed on the right .

The third story will serve to create a sense of exci tement among the page’s followers. The Instagram feature allows Simon Porte to do a count down until the launching of the proposed service. This is also part of the gradual teasing process for current Jac quemus Instagram followers.

On the right is what the story would look like with the count down feature.

INSTAGRAM OWN MEDIA stories Launch

The third story will aim at presenting the end of the countdown. The end of the countdown means that the proposed service is launched and available to use as for the Relive Jacquemus resale area (for the resellers) and for the second-jacquemus category (the next owner of the resold products).

RELIVE JACQUEMUS SERVICE/SECONDJACQUEMUS CATEGORY

INSTAGRAM

OWN MEDIA Posts Launch

The three posts will be posted on the same day and same hour the new service is launched. They will include questions in two posts to ask their customers if they have any Jacquemus products they no longer use (shown on the right hand side). And if they are interested in second-hand (left hand side). The post showed in the middle will aim at promoting the new service value proposition in order for consumers to start reselling their pre-owned Jacquemus via the Jacquemus platform rather than other multi-brands reselling platforms to increase consumer’s loyalty.

INSTAGRAM

OWN MEDIA Posts Launch

RELIVE JACQUEMUS IS HERE

ARE YOU INTERESTED IN SECOND-HAND?

RELIVE JACQUEMUS IS HERE

Relive Jacquemus offers our consumers the opportunity to resell Jacquemus products and to purchase them. Those products are 100% authenticated by our sales team and are resold at their exact value price!

RELIVE JACQUEMUS IS HERE DO YOU HAVE AN JACQUEMUS ITEM YOU NO LONGER WEAR?

On the right is illustrated the three post captions. The caption aims at presenting the RE LIVE JACQUEMUS to their Instagram’s fol lowers. It is also enabling the brand to raise awareness about what are the main aims of the project. The visit proposition aims also at driving current and potential consumers to the Jacquemus official website.

«RELIVE JACQUEMUS»

The new resale area entirely designed and implemented by Jacque mus is launched. You have now the abality to resell your Jacquemus pre-owned Jacquemus items through your existing account. This project aims at bringing more circularity in our business and to focus on a sustainable future for the environment. Visit the website to know more about RELIVE JACQUEMUS. Thank you to the entire Jacquemus to have participated to this pro ject! Thank you in advance to our loyal consumer when considering the new service.

Facebook

OWN MEDIA Posts Launch

The Facebook posts will follow a similar post format for the promotion of the service. Descriptions will be similar and will allow for consistency of promotion. This choice allows fol lowers to have the same information across all brand touchpoints.

«RELIVE JACQUEMUS»

«RELIVE JACQUEMUS» «RELIVE JACQUEMUS»

RELIVE JACQUEMUS IS HERE

RELIVE JACQUEMUS IS HERE ARE YOU INTERESTED IN SECOND-HAND?

Relive Jacquemus offers our consumers the opportunity to resell Jacquemus products and to purchase them. Those products are 100% authenticated by our sales team and are resold at their exact value price!

RELIVE JACQUEMUS IS HERE DO YOU HAVE AN JACQUE MUS ITEM YOU NO LONGER WEAR?

INSTAGRAM

OWN MEDIA Posts post-Launch

The post-service launch will aim at creating an « highlights» section, a feature already used by the brand, for consumers to have the ability to have access to every information concerning the service. It will also allow consumers to RE LIVE the launch of the service. They will have to visit the jacquemus instagram page and click on the highlight called «RELIVE JACQUEMUS/ SECOND-JACQUEMUS» (Showed on the left hand side of this page).

RELIVE JACQUEMUS SERVICE/SECONDJACQUEMUS CATEGORY

Influencer campaign

Earned media

The earned media through celebrity and influencer marketing will be undertaken thanks to a partnership with Tamara Kalinic. She will write one article on her blog «Glam and glit ters» after using the resale area. This aims at giving consumers a relevant and coherent review from a Luxury consumer, what she expects and if her expectations were satisfied. The blog post will then be promoted on the official Jacquemus Instagram account.

Influencer campaign

Earned media

As explained in the strategy summary, another partnership will happen in order to promote the brand’s new service. Sofia Coelho will also be considered as a RELIVE AMBASSADOR. She will be asked to promote the new product’s category by giving her followers - who are mostly Millennials and generation Z - an overview of her consumer journey. The post will be sponsored by Jacquemus. Sofia’s post will be reposted on Jacquemus stories highlights.

MY EXPERIENCE RESELLING WITH JACQUEMUS.COM

MY EXPERIENCE WITH RELIVE JACQUEMUS

SPONSORED BY JACQUEMUS

Marketing consultant

Graphic designers

GANTT CHART FOR RELIVE JACQUEMUS-

- figure 5.7

Sales responsible

TASKS START DATE TASK DURATION

Maket research 31th of may 3 weeks

Target consumer research 31th of may 3 weeks

External analysis 31th of may 3 weeks

Proposal and defi ning objectives 21st of June 4 days

Strategy 24th of June 1 week

Design new pla form 1st of july 2 months

June (by week) July (by week) August (by week) September (by week)

1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th

Textile professionnals

Jacquemus newsletter team

Jacquemus e-com merce responsible

E-commerce team

Design new ac count 1st of July 1 month

Contact sales team 1 st of july 1 week

Form sales team for authenticating Jacquemus pro ducts

1 st of July 2 months

Write confirmation emails 30 th of july 2 days

Design confirma tion emails 2nd of August 4 days

Test automatic emails 6th of Augsut 1 week

Launch automatic emails 30th of September 1 day

Test the new ser vice 15th of august 3 weeks

Launch the new service; 30th of september 1 day

GANTT CHART FOR second-jacquemus

- figure 5.8

Marketing consultant

Graphic designers Jacquemus newsletter team

E-commerce team

TASK START DATE TASK DURATION JUNE (by week) JULY (by week) AUGUST (by week) SEPTEMBER (by week)

1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th

Maket research 31th of May 3 weeks

Target consumer research 31th of May 3 weeks

External analysis 31th of May 3 weeks

Proposal and defi ning objectives 21st of June 4 days

Strategy 24th of June 1 week

Jacquemus e-com merce responsible

Design new product category 1st of July 2 months

Test new product category 15 th of August 3 weeks

Write confimartion email 30th of July 2 days

Design confinrma tion email 2nd of Augsut 4 days

test confirmation email 6th of August 1 week

Launch product category + confirmation email

30th of September 1 day

TASKS START DATE TASK DURATION

AUGUST (by week) SEPTEMBER (by week) OCTOBER (by week)

1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th

Design Instagram posts campaing 15th of August 3 weeks

Write caption post for instagram campaign 30th of august 1 day

Create new highlights on the instagram page for post-launch

15th of october 1 day

Launch instagram pot campaign 30th of september 1 day

Design Instagram story 1 for pre-launch cam paign

15th of August 1 week

GANTT CHART FOR promotion

- figure 5.8

Graphic designers

Simon Porte

Jacquemus marketing team

Relive ambassadors

Publish Instgram story 1 for pre-launch 5 th of September 1 day

Design Instagram story 2 for pre-launch cam paign

Publish Instagram story 2 for pre-launch cam paign

Design Instagram story 3 for the launching of the campaign

Publish Instgram story 3for the launching of the campaign

15th of August 1 week

19th of September 1 day

15th of August 1 week

30th of September 1 day

Publish post on face book page 30th of September 1 day

Contact Tamara Kalini 1st of September 1 day

Write contract for both partnerships 10th of September 5 days

blog post from Tamara Kalinic 15th of Ocotober 1 day

Instagram post Sofia Coelho 15th of october 1 days

SUMMARY OF COSTINGS

Being financially independent, the brand will have to take care of the overall costings of the new service launch and its promotion.

For the launch of the Relive Jacquemus and Second-Jacquemus service, the company will hire graphic designers to set up, develop and maintain the site. The total cost has been estimated at around $7000 due to the high cost of development. Research has shown a wide range of prices for the ove rall implementation of the site. Indeed, Freshbooks explains that a graphic design team would cost between $5,500 and $10,000 with an average of around $7,000. This led to the total estimate being set at this price for the purpose of realism. The ave rage was then converted into pounds to make the total calculation easier.

As for the marketing consultants, research has shown that a marketing consultant takes about the equivalent of 30 pounds per hour. The Gantt chart states that Jacquemus will need these marketing consultants for about 1 month (the whole of July). It is assumed that if the marketing consultant wor ked 5 days a week on the project, working 8 hours a day, the total cost at the end of the month would be £4,800.

Unfortunately, it was not possible to find a price for the authentication team that will train the members of the sales team to authenticate the products sent. It was therefore estimated the maxi mum budget that the brand can put in for a team of 10 people at £500-600 per person per month so £12,000 in total.

For the e-commerce photographers the cost for the photography according to Pow Product pho tography, a photograph takes approximatively 300£ per product. The brand will have to consider this price which has been removed from the total for logical reasons.

When it comes to the copy writers who will be responsible for the writing of the several emails shown on section 5, it has been found that a copy writer takes 80£ per hour. Here the brand will need to write a few and will need a copy writer for two days to write all of them. It will then cost 1280£ if it is imagined that they work 8 hours per day.

The promotional part (owned media) will represent the lowest cost as Jacquemus is auto nomous when it comes to the creation of posts and stories. They only need to hire a graphic designer who will be paid 75£ per post to design the first page of the Instagram posts as shown in section 5.

Concerning the promotion (earned me dia), the prices have been estimated depending on the online presence of both chosen influen cers. According to Influencer Marketing Hub, So fia Coelho with the number of followers that she has could take approximatively 1500£ for the three posts that she will do to promote the new service. As for Tamara Kalinic, her online pre sence is more important which is why the price is higher to reflect her greater number of followers.

The total expenditure for the implementation of the ser vice and its promotion will be 31,590£.

risksThe tab shown on the right theorised by Garvey & Lansdowne in 1998 displays information about the several risks that could occur when implementing the new service and its promotion.

The implementation of this innovation would include risks based on three diffe rent categories: Operational, financial and governmental. The main findings lie with the operational risks:

• It has been found that there are several risks which are unlikely to occur and that are somewhat acceptable, tolerable, unacceptable and intorable. Those risks are mainly operational and financial. The one that could «result in disaster» would be a low return on investment that could lead to a sales decline and a loss of interest in the brand.

• The location of the brand as being too local can be classified as a possible risk «risk will likely occur». This factor is acceptable as it is overshadowed by the fact that the product’s authentication process can happen via phone call. What could be considered as «intolerable» is a slow resale process, not seamless enough that it could lead to consumers re-shifting to multi-brands platforms.

• Risks that «will occur» are not numerous as the goal of the implementation is to create a service that will not present an important risk for the brand. However, the brand can lack sales team employees which will slow the authentication process and prevent the employees from completing it on time.

Opportunities:

1. Jacquemus will answer a large demand from consumers for more sustainability and circularity.

2. By including the service they will keep their image as a luxury brand while allowing younger demographics to experience the consumer journey of a luxury brand.

3. The risks about tanishing of the brand image will be overshadowed by the service offering a trusted and exclusive Jacquemus experience.

4. They will keep their stance as a contemporary luxury brand moving forward regarding current environmental challenges.

5. International consumers will be able to experience a french luxury digital experience.

Not enough space to store all the resold products awating their second sales.

Promotion of the new service will no attract enough consumers to try out the new resale area as the brand is not as established as other luxury brands

Not enough retunr on investment that could lead to the brand knowing an important financial decline

-Service based too locally as the products will have to sent in France to be authenticated.

The lack of respect from consu mers as to the honesty they are asked to show when they enter the information of the products they want to resell. As well as the sending of retouched pho tos in order to facilitate the re sale of the goods.

-Consumers will not be sa tisfied with the new price of their resale product, that could lead to the re-direc ting of those resellers toward multi-brands platforms

Relive Jacquemus: Low resale process that could lead to the re-di recting of the resellers toward multi-brands. platforms.

OPERATIONAL RISKS

FINANCIAL RISKS

-Currency, and trades made outside Europe could impact the business profita bility.

The sales teams is not large enough to take into consideration the authentication of every resold item in time.

MARKET DEMAND PROSPECTS:

Luxury market:

• The luxury market is expected to grow exponentially until 2025 which means that the demand will continue to rise as millennials and gen z will constitute the biggest percentage of sales in this market.

• The demand for luxury products from those younger generations is still at its in fancy, it is thus expected that millennials’s and gen z’s demand will be increasingly significant due to their future higher spending power.

• More specifically, the pandemic has seen a high increase of online sales. Accor ding to Bain & co, they made up 49€ billion with a 12% growth since 2019. This illustrates a rising demand that will continue to increase in the next 5 years.

Online Luxury resale market:

• It is expected that demand will continue to grow due to the current location of the trend. Indeed, according to Rogers, it seems to be adopted by «early adopters» and «early majority» (APPENDIX). Today these groups are specifically generation Z and millennials who make up the largest share of this trend (Thredup, 2020).

• Moreover, the demand for more sustainability and circularity from businesses has been important in 2020 (Forbes, 2020). Research has shown that younger gene rations want more sustainable business practices. Businesses need to be in line with today’s environmental challenges in order to remain profitable in the long term (Elkington, J, 1994). In addition, local laws will force these brands to act in a more sustainable way to make the economy more circular (Passport, 2020). Consequently, the second-hand and re-sale market are solutions that allow these luxury brands to act according to these challenges while preserving their brand equity.

• The online luxuy market will also constitute a durable solution as the demand for more online experiences are expected to grow in the next five years due the pan demic (Passport, 2020).

STRATEGY:

The product development strategy proposed in section 5 will allow the brand to reposition itself into a more “fashion forward” brand. Indeed, the contemporary aspects the brand benefits from and which constitute one of their main competitive advantages will be maintained. But the proposed innovation will allow them to re-enforce it to remain profitable in the years to come as the resale and second-hand market will enable them to include sustainability and circularity in their business model (Triple bottom Line, Elkington, J, 1994).

ARTEFACTS:

The proposed artefacts will enable the brand to respect the Smart objectives shown on sec tions 1 and 5.

• The Relive Jacquemus and Second-Jacquemus platforms will ultimately allow the brand to maintain its online activities on the official Jacquemus website. This will enable it to increase the number of visits and interactions with the latter. Moreover, by taking between 10 and 20% of the resale value of a product, they will be able to increase revenue. Plus, as the consumer will have the ability to re-spend the money received from the resale on Jacquemus’s website, it will increase brand loyalty and ultimately boost sales. Also, the resale taking place via the consu mer’s account will allow the number of accounts created every month to multiply which will also increase brand loyalty.

• Promotion: The promotion through social media campaigns will enable the brand to stay aligned with its current marketing strategy. The Instagram and Facebook posts will ultimately increase brand interactions. Earned media through influencer marketing will raise awareness around the brand and widen the Jacquemus community. This will also enable the brand to res pect its goals in terms of communication.

Overall, the brand will be positively impacted by the creation of those artefacts as it respects its rational goals, aims and objectives while preserving its brand identity.

RISK, OPPORTUNITY AND SENSITIVITY:

Most of the risks that could occur are about the brand’s image and the financial aspects mentioned in these sections. It has been found that opportunities outshined risks as the demand explained above is stronger and constitutes a priority for brands right now when it comes to acting in accor dance with environmental regulations and consumer demands.

REFERENCES

WEBSITES

Achille, A. and Zipser, D. (2020). A perspective for the luxury-goods industry during--and after--coronavirus. [online] McKinsey & Company. Available at: https://www.mckinsey.com/in dustries/retail/our-insights/a-perspective-for-the-luxury-goods-industry-during-and-after-coronavirus.

Bain. (2021). The Future of Luxury: Bouncing Back from Covid-19. [online] Available at: https://www.bain.com/insights/the-future-of-luxury-bouncing-back-from-covid-19/.

Brannigan, M. (n.d.). Want to Get Through to Gen Z? Start By Doing Less. [online] Fashionista. Available at: https://fashionista.com/2017/06/generation-z-marketing-brand-strategy

Brewis, D. (2020). What Generation Z expects from the online retail experience - IMRG. [online] www.imrg.org. Available at: https://www.imrg.org/blog/generation-z-online-retail-ex pectations/.

Beauloye, F.E. (2019). Luxury Resale: A Secondhand Strategy for Brands in 2020. [online] Luxe Digital. Available at: https://luxe.digital/business/digital-luxury-reports/luxury-re sale-transformation/.

Business & Arts. (n.d.). Simon Porte Jacquemus, Instagram’s Favorite Designer. [online] Available at: https://www.businessnarts.com/blog/simon-porte-jacquemus-instagrams-favo rite-designer.

Chen, C. (2020). The Future of Resale: 5 Key Questions. [online] The Business of Fashion. Available at: https://www.businessoffashion.com/articles/retail/resale-the-realreal-poshmarkstockx.

Danziger, P.N. (n.d.). 3 Ways Millennials And Gen-Z Consumers Are Radically Transforming The Luxury Market. [online] Forbes. Available at: https://www.forbes.com/sites/pamdanzi ger/2019/05/29/3-ways-millennials-and-gen-z-consumers-are-radically-transforming-the-luxury-market/?sh=a3f4f5d479fd [Accessed 14 May 2021].

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Kestenbaum, R. (n.d.). The Future Of Luxury, Post-Coronavirus. [online] Forbes. Available at: https://www.forbes.com/sites/richardkesten baum/2020/11/02/the-future-of-luxury-post-coronavirus/?sh=552446333ef7 [Accessed 26 May 2021].

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REPORTS

Achille, A. and Zipser, D. (2020). A perspective for the luxury-goods industry during--and after--coronavirus. [online] McKinsey & Company. Available at: https://www.mckinsey.com/industries/retail/our-insights/a-perspective-for-the-luxury-goods-industry-during-and-after-corona virus.

Euromonitor (2020) How will consumer Markets evolve after Coronavirus. Available at:

Globalwebindex (2019) Commerce. Available at https://www.globalwebindex.com (Accessed: Monday 17th of May)20

Globalwebindex (2021) Connecting the dots 2021 (https://www.globalwebindex.com (Accessed: Monday 17th of May)20

Passport (2020) Fashion & Sustainability . Available at: https://www.portal.euromonitor.com/portal/magazine/homemain (Accessed: Mon day 17th of May)

Passport (2021) Global economic outlook : Q2 202. Available https://www.portal.euromonitor.com/portal/magazine/homemain2(Accessed: Monday 17th of May)20

Passport (2021) France, country report. Available https://www.portal.euromonitor.com/portal/magazine/homemain2(Accessed: Monday 17th of May)20

WGSN(2020) The resale market boom. Availbla at

Vestiaire Collective (2020) The smart side of fashion. Available at https://fr.vestiairecollective.com/fashion-report/ (Accessed: Monday 17th of May)20

BOOKS

• Bendoni, W. (2017). Social media for fashion marketing : storytelling in a digital world. London: Bloomsbury Visual Arts.

• Chaffey, Dave, and PR Smith. Emarketing Excellence : Planning and Optimizing your Digital Marketing, Taylor & Francis Group, 2013. ProQuest Ebook Central, http://ebookcentral.proquest.com/lib/ual/detail.action?docID=1143760.Created from ual on 2021-04-13 10:14:03.

• Kapferer, J N and Bastien, V. (2012). The Luxury Strategy: break rules of marketing to build luxury brands (2nd Ed.) London: Kogan Page

• Palmer, A. and Clark, H. (2005). Old clothes, new looks : second hand fashion. Oxford ; New York: Berg.

• VINTAGE LUXURY FASHION : exploring the rise of the secondhand clothing trade. (2019). S.L.: Palgrave Macmillan.

IMAGES:

• Figure 2. 4: Products display on Jacquemus.com

• New arrivals - JACQUEMUS | Official website. (n.d.). New arrivals - JACQUEMUS | Official website. [online] Available at: https://www.jacquemus.com/shop/women/new-arrivals [Accessed 26 May 2021].

• Figure 2. 5: Current consumer account

• JACQUEMUS Official website. (n.d.). JACQUEMUS Official website. [online] Available at: https://www.jacquemus.com/account/orders [Accessed 26 May 2021].

• Figure 2. 6 Customer service contact information

• JACQUEMUS Official website. (n.d.). JACQUEMUS Official website. [online] Available at: https://www.jacquemus.com.

• Figure 2. 7: Customer service contact information

• JACQUEMUS Official website. (n.d.). JACQUEMUS Official website. [online] Available at: https://www.jacquemus.com.

• Figure 2.8 Sales teams whatsapp account

• JACQUEMUS Official website. (n.d.). JACQUEMUS Official website. [online] Available at: https://www.jacquemus.com.

• Figure 2. 9: Sales teams whatsapp account

JACQUEMUS Official website. (n.d.). JACQUEMUS Official website. [online] Available at: https://www.jacquemus.com.

• Figure 2.10: Jacquemus Instagram page https://www.instagram.com/p/CNFr5Ths6Zv/

• Figure 2.11: Jacquemus Instagram page

Jacquemus. (2020) 'Les Fleurs' [Instagram]. 31/03. Available at: https://www.instagram.com/jacquemus/(Accessed: 26th of May 2021)

• Figure 2.12 Jacquemus Instagram stories

Jacquemus. (2020) 'Les Fleurs' [Instagram]. 31/03. Available at: https://www.instagram.com/jacquemus/(Accessed: 26th of May 2021).

• Figure 2.13: Jacquemus Instagram stories Jacquemus. (2020) 'Les Fleurs' [Instagram]. 31/03. Available at: https://www.instagram.com/jacquemus/(Accessed: 26th of May 2021).

• Figure 2.16: Personal diary

Jacquemus. (2020) ‘Love always win’ [Instagram]. 28/06. Available at: https://www.instagram.com/jacquemus/( Accessed: 26th of May 2021).

• Figure 2.17: Personal diary

Jacquemus. (2020) ‘Love always win’ [Instagram]. 28/06. Available at: https://www.instagram.com/jacquemus/( Accessed: 26th of May 2021).

• Figure 2.18: Personnal diary

Jacquemus. (2020) ‘Love always win’ [Instagram]. 28/06. Available at: https://www.instagram.com/jacquemus/( Accessed: 26th of May 2021).

• Figure 2.19: Facebook home page

JACQUEMUS. (2021) 2021 [Facebook] 25/03 Available at: https://www.facebook.com/JACQUEMUS (Accessed: 26th of May 2021).

• Figure 2.20: Tik Tok home page

TikTok. (n.d.). Jacquemus on TikTok. [online] Available at: https://vm.tiktok.com/ZMevrtXy4/ [Accessed 26 May 2021].

• Figure 2.21: Jacquemus home page

JACQUEMUS Official website. (n.d.). JACQUEMUS Official website. [online] Available at: https://www.jacquemus.com.

• Figure 4.3: Tamara Kalinic Instagram

Tamara Kalinic. (2020) ‘OUT OF THE OFFICE’ [Instagram]. 15/05. Available at: https://www.instagram.com/p/CO5r1MBB1rj/ Accessed: 26th of May 2021)

• Figure 4.4: Sofia Coelho Instagram

Sofia Coelho. (2020) ‘GIVEAWAY’ [Instagram]. 11/04 Available at: https://www.instagram.com/p/CNhg54OhrEi/ Accessed: 26th of May 2021)

• Figure 4.5: gen z

Brannigan, M. (n.d.). Want to Get Through to Gen Z? Start By Doing Less. [online] Fashionista. Available at: https://fashionista.com/2017/06/generation-z-marketing-brand-strategy.

• Figure 4.6: depop logo

Pinterest. (n.d.). Depop - Buy, Sell, Discover and Share by Garage. [online] Available at: https://www.pinterest.fr/pin/290060032242231952/ [Accessed 26 May 2021].

• Figure 4.7: The Realreal www.therealreal.com. (n.d.). Luxury consignment sales. Shop for pre-owned designer handbags, shoes, jewelry and more | The RealReal. [online] Available at: https://www.therealreal. com

• Figure 4.8: Vestiaire collective

Anon, (2020). Vestiaire Collective : cap sur l’Asie avec Zalora. Journal du Luxe.fr Actualité du luxe. [online] Available at: https://journalduluxe.fr/vestiaire-collective-zalora/ [Accessed 26 May 2021].

•

Figure 4.9: Jacquemus Logo

JACQUEMUS | Official website. (n.d.). JACQUEMUS | Official website. [online] Available at: https://www.jacquemus.com.

• Figure 4.10: Isabel Marrant

fr.linkedin.com. (n.d.). Isabel Marant LinkedIn. [online] Available at: https://www.linkedin.com/company/isabel-marant/?originalSubdomain=fr [Accessed 26 May 2021].

• Figure 4.11:Vestiaire Collective

Anon, (2020). Vestiaire Collective : cap sur l’Asie avec Zalora. Journal du Luxe.fr Actualité du luxe. [online] Available at: https://journalduluxe.fr/vestiaire-collective-za lora/ [Accessed 26 May 2021].

• Figure 5.1: Photo taken by me

• Figure 5.2: Glam and Glitters

Glam & Glitter. (n.d.). Glam and Glitter. [online] Available at: https://theglamandglitter.com [Accessed 26 May 2021].

• Figure 5.3: Glam and

Glitters

Glam & Glitter. (n.d.). Glam and Glitter. [online] Available at: https://theglamandglitter.com [Accessed 26 May 2021].

• Figure 5.4: Sofia

Coelho Instagram

Sofia Coelho. (2020) ‘GIVEAWAY’ [Instagram]. 11/04 Available at: https://www.instagram.com/p/CNhg54OhrEi/ Accessed: 26th of May 2021)

• Figure 5.5: Sofia Coelho Instagram post

Sofia Coelho. (2020) ‘GIVEAWAY’ [Instagram]. 11/04 Available at: https://www.instagram.com/p/CNhg54OhrEi/ Accessed: 26th of May 2021)

POSTIONING MAP ON SECTION 5

• LOGO CELINE:

Anon, (2019). Hedi Slimane lance la première ligne de Haute Parfumerie Celine | Journal du Luxe.fr Actualité du luxe. [online] Available at: https://journalduluxe.fr/ hedi-slimane-haute-parfumerie-celine/ [Accessed 26 May 2021].

• LOGO LOUIS VUITTON

Marques et logos: histoire et signification | PNG. (2020). Louis Vuitton logo. [online] Available at: https://logos-marques.com/louis-vuitton-logo/ [Accessed 26 May 2021].

• LOGO HERMES

Marques et logos: histoire et signification | PNG. (2020). Hermès logo. [online] Available at: https://logos-marques.com/hermes-logo/ [Accessed 26 May 2021].

• LOGO ISABEL MARRANT

fr.linkedin.com. (n.d.). Isabel Marant LinkedIn. [online] Available at: https://www.linkedin.com/company/isabel-marant/?originalSubdomain=fr [Accessed 26 May 2021].

• LOGO VETEMENT

Anon, (2021). Un nouveau nom pour Vetements ? | Journal du Luxe.fr Actualité du luxe. [online] Available at: https://journalduluxe.fr/un-nouveau-nom-pour-vetements/ [Accessed 26 May 2021].

• LOGO PRADA

Prada logo : histoire, signification et évolution, symbole. (2017). Agence 1min30. [online] Available at: https://www.1min30.com/logo/prada-logo-1287490640 [Ac cessed 26 May 2021].

MODELS

Figure 1. 1 : Value proposition canvas, Osterwalder. A, 2004

Osterwalder, A., Pigneur, Y., Bernarda, G., Smith, A. (2014) Value Proposition Design: How to Create Products and Services Customers Want, John Wiley & Sons.

Figure 1. 2: The Race model, Chaffey, D., 2010

Chaffey, D. (2020). RACE marketing model definition - What is? Digital marketing Glossary. [online] Dr Dave Chaffey : Digital Insights. Available at: https://www. davechaffey.com/digital-marketing-glossary/race-marketing-planning-model/.

Figure 2. 3: Brand identity Prism, J. Kapferer, 2009

Eurib.org. 2009. Kapferer’s Brand-Identity Prism model. [online] Available at: <http://www.eurib.org/en/knowledge-resource-centre/kenniscentrumeurib/identiteiteni mago.html> [Accessed 26th of MAy].

Figure 2. 22: Vrio Model, Barney, J,B, 1991

Barney, J., 1991. Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), pp.99-120.

Figure 3. 1: Porter 5 forces, Porter, E, 1974

Porter, Michael E. “The Five Competitive Forces That Shape Strategy.” Hbs.edu, 2009, www.hbs.edu/faculty/Pages/item.aspx?num=34522.

Figure 4. 1: The tripple bottom line model, Elkington, J., 1994 Milne, M. and Gray, R., 2012. W(h)ither Ecology? The Triple Bottom Line, the Glo- bal Reporting Initiative, and Corporate Sustainability Reporting. J Bus Ethics, 118(1), pp.13-29.

Figure 4.2: The sweet spot model, The innovation board, 2020 Board of Innovation. (2020). How to hit the innovation sweet spot and why it’s not all that straightforward. [online] Available at: https://www. boardofinnovation.com/ blog/how-to-hit-the-innovation-sweet-spot/.

Figure 4.12: The Ansoff Matrix, Ansoff. H.I, 1957 The Ansoff Matrix – Ansoff, (1965) Corporate Strategy: an analytic ap- proach to business policy for growth and expansion. McGraw-Hill.

Figure 5.7: Gantt chart Relive Jacquemus

Gantt.com. 2016. What is a Gantt Chart? Gantt Chart Information, history and Software. [online] Available at: <http://www.gantt.com/> [Accessed 26th of May].

Figure 5.8: Gantt chart Second Jacquemus

Gantt.com. 2016. What is a Gantt Chart? Gantt Chart Information, history and Software. [online] Available at: <http://www.gantt.com/> [Accessed 26th of May].

Figure 5.9: Gantt chart Promotion

Gantt.com. 2016. What is a Gantt Chart? Gantt Chart Information, history and Software. [online] Available at: <http://www.gantt.com/> [Accessed 26th of May].

Figure 7.1: Risk Matrix, Garvey & Lansdowne, 1998 Imke, S. (2019). How to Develop a Risk Assessment Matrix For Business Success. [online] How to Advice for your Side-Hustle or Small Business. Available at: https:// www.stevebizblog.com/how-to-develop-a-risk-matrix/.

AActual Jacquemus consumer journey according to the official website

Survey Questions:

FPrimary research survey conducted on google form

1. What is your gender?: Women - Men

2. What is your age?:

3. Do you buy fashion luxury goods?

4. If yes, how much do you spend in general ?

5. What is/are your motivation(s) for buying a luxury product ?

6. Do you think luxury brands should introduce circularity in their business model ?

7. Why ?

8. Have you ever re-sold/bought second-hand in the past?

9. Where ?

10. If no, would you be interested in re-selling/ buying second-hand ?

11. If a luxury brand would diversify their services by creating a re-sale area, would you try it ?

12. If yes, do you think you would have a more trusted experience ?

13. Do you know Jacquemus?

14. Would you use the resale platform the brand would create?

Primary research survey result conducted on google form

Primary research survey results conducted on google form

resale market forecast - Thredup 2020 G

Adoption Model Roger Innovation Curve

1962

optimistic scenario for the global economy - Passport 2021 I

Pessimistic scenario for the global economy - Passport 2021

ethic form