Collection Analysis

the brand analysis and the brand extension

Elin Salenius Hedda Smith Mateusz Cierniak Michelle Tissen Patrick Klaghofer

MANAGEMENT SUMMARY

How can Weekday implement a permanent brand extension in the most profitable way? This general question leads us to at least the following sub questions that will be answered by our consultancy work. Is there a market gap? And how exactly can it be filled by Weekday?

Our strategic advice is based on two pillars. Empirical research inside the existing market segment and secondary research on trends and future approach to streetwear. We consulted the customers of Weekday to check whether our brand extension would be coherent with the existing consumer of weekday. As the quantitative evaluation results show, the regular weekday customer would appreciate a “formal streetwear” line for men. Even more the results show the actual demand for the product. Indeed, there is only one Blazer in the current Weekday collection. With that set we clarify that there is non-exploited sales potential in our current product portfolio according to the existing clients. We refer to that kind of strategic extension we suggest as a product development, which is characterized by using the existing market and launching new products alongside the existing assortment. A medium risk strategy.

But not only the existing consumers demand a new line. In general, the trend towards ready to wear constructed shapes on garments is conquering the industry. As seen on runway shows and in first line collections you can discover the tendency towards new interpretations of formal wear.

As WEEKDAYS customers are described as the early adopters and early majority in their own brand report it is about high time to cover that segment in the WEEKDAY portfolio.1 Even further we can prove the need for this collection by looking at how the weekday customers present themselves (live as well as online). Watching closely for example, you can detect a significant number of bloggers and private users on Instagram that tag Weekday products in combination with formal pieces as blazers and ready to wear styles. Our goal should be to get these customers to buy their whole outfit from the Weekday range! Especially the Key Pieces – Oversized Blazers, deconstructed Suits - that attract the viewers eye immediately can achieve a huge organic marketing impact for the whole company, self- sufficient from our own campaigns and without capital investment.

With this collection we can increase the value of the Weekday shopping experience, plus approaching the fashion victims in our market that we do not serve yet. All that can be done while preserving all of Weekdays’ main values.

We can come up to Weekday’s mission of providing sustainable garments by using recyclable materials that already exist in the Weekday range. That is also what makes the extension so easy to implement in terms of production and sourcing. Most of the extension’s fabrics can be found in the Weekday collection already. More progressive cuts make the difference here. Perfect clean lines of fine tailored craftsmanship will be combined with Weekdays neat approach to streetwear.

By any means the Scandinavian DNA of Weekday will still be preserved as our main theme.

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table of contents

Introduction................... page 4 The Brand Analysis.............

- The Unilever Brand Key.......

- The Vision, Mission, and USP. - Target Group.................

- Rangeplan....................

- SWOT Analysis................

page page page page page page

5 6 7 9 11 14

The Brand Extension.....................

- Emperical Research: Customer Survey...

- Reasons to believe....................

- The Ansoff Model......................

- Extension (Name and Moodboard)........

- The 4 P’s of the Brand Extension......

- Product..........................

- Price Structure..................

- Place............................

- Promotion........................

- Target Group - Extension + Muze.......

- Competitor Matrix and Visualization of two most important Competitors..........

- The Sustainability....................

page page page page page page page page page page page

15 16 17 19 20 22 22 24 25 26 27

page 29 page 32

Conclusion.............................. page 33 Reference List.......................... page 34

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INTRODUCTION

“They’re suits, but not as you know them”. (GQ-Magazine, 2021) According to the QG Magazine this is what is going to be one of the biggest trends in Spring/Summer 2022 for men.

Streetwear and tailoring - two subjects that may have been strictly separated from another in the past. In the last few years though, this view has apparently been outdated. However, at least since Virgil Abloh the founder and creative mind behind one of the most popular streetwear brands Off-White is designing Suits for Louis Vuitton and predicted the end of streetwear in the 2020s, we can assume where fashion is heading. (See Allwood, 2019) Let`s make Weekday be a part of this transformation in the fashion world.

Under the banner of Amsterdam Fashion Institute’s (AMFI) Fashion Business & Development course “Fashion and the Circular Economy: Collection Analysis”, this report describes the analysis of the company Weekday and the strategic recommendation of a product and brand extension.

A major goal of this report is to dive deep into the core values of the brand Weekday and get to know the spirit of the brand to understand on what basis we can provide our consultancy activity. At the same time, we define the company`s market regarding the main competitors and the target group. With that information gathered we can give future-proof strategic advice on how to expand the collection in a logical and profitable way. The extension should be reasonable, easy to implement and contribute to the company’s sustainable values. At this stage of our consultancy work we focus on menswear.

In this report, you will find a profound idea of how this extension will be constructed and most importantly why we advise Weekday to do so. By combining the results of the research of the business analysis as well as the customer`s needs we consult on how a positive contribution to humanity and the planet can be generated.

Using models as the Unilever brand-key we create an easy-to-understand overview of the brand itself. Supported by a detail driven store check and consultation of staff members we got to know the brand by heart and are now able to give advice based on Weekday’s core values. The soundly curated mood boards in this report will 4

the brand analysis

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THE UNILEVER BRAND KEY

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THE VISION, MISSION AND USP

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THE VISION, MISSION, AND USP

Weekday is a Swedish fashion brand, owned by the H&M Group, which currently has stores in 16 countries and ships to 97 markets globally. The main influences of the brand are youth culture and street style.

Weekday wants to create fashionable pieces, made of good quality, that are aligned with the needs and values of the target customer. The brand has many strong values, of which sustainability is one. Weekday aims to become completely climate positive by 2040, and aims to be socially conscious. To raise awareness and shed light on current global events, the brand prints a new ‘Zeitgeist’ T-shirt each week with a different design reflecting on something to do with society. Previous designs have touched on topics such as same-sex marriages and the refugee crisis in Syria.

Weekday has a recognizable aesthetic when it comes to the design of the products and the stores. The architects of the stores never make any two stores look the same, and they aspire to create a space where the customer can come to hang out in, and not only shop. The design of the products has a Scandinavian minimalist turn on streetwear, and denim is often in focus. Weekday also frequently collaborates with well-known artists to create unique and innovative designs at affordable prices.

Even though Weekday is one brand in the very large H&M Group portfolio, they differ significantly to the other H&M brands through their creative fashion, which is offered at still very competitive prices. Their store environments are easily approachable and appealing to the target group.

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TARGET GROUP The target group of Weekday consists of European 15–30-year-old creative minds that either study or work within the creative industry, or lead a lifestyle with strong interests in art, culture and design. They are passionate about music, and enjoy going to concerts, festivals and events as such in their free time. Browsing stores and shopping in general, whether offline or online, is an activity that gives them pleasure.

The Weekday target consumers are style aware and appreciate the aesthetics of Scandinavian minimalism, as well as more fashion forward streetwear. They are conscious about how they look and choose to regularly search for new ways to dress and express themselves.

Beyond the superficial aesthetics of the Weekday products and stores that appeal to the target consumer, the general philosophy and political outspokenness is attractive to them too. The target consumer is educated and opinionated, and feels empowered through Weekday’s encouragement to take a stand on various cultural and political topics such as same-sex marriage and the refugee crisis in Syria. Weekday as a brand is quite outspoken about their goals and aspirations on sustainability, which is something that resonates well with the target audience since that too is a topic of interest for them.

Due to their great affection towards social media, influencers and fashion magazines, they are knowledgeable on current trends and can be categorized as the Early Adopters and Early Majority. In addition to the external factors of the products, the target consumers are also interested in factors such as quality and price.

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TARGET GROUP

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RANGEPLAN

analysis of the collection

As a whole, weekday’s basic and Autumn winter collection focus on oversized fits with a laidback style. The menswear collection we analyzed had 141 garments. With almost a 2:1 top bottom ratio, the largest product groups are T-shirts and tops having 26 garments followed by sweatshirts & hoodies and sweaters & knitwear both have 17 each. The smallest product group was blazers with only one garments, this is reflective of Weekday’s current style of a more casual everyday look. €15 to 120 with an average price of €49 is a reflection on the segment of the brand being the higher end of the low segment leaning towards the low end of the mid segment.

The fabrics within the collection are largely cotton or containing cotton, out of the 112 garments that contained cotton 70% were solely organic cotton with the other 30% being mixes such as polycotton and cotton elastane mixes. The use of 100% organic cotton and 24% of the collection containing recycled content backs up Weekday’s environmentally conscious claims of the collection being 99% sustainably sourced.

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RANGEPLAN

analysis of the collection

The split of basic, mid and top is less harsh than other brands but it can be argued that their whole collection and brand is more of a basic one, so mid-range products will just be bought in smaller quantities due to risk rather than be made to have a significant price increase. Within the basic garments the price range is 1570€ and an average €43, materials focus mainly around cotton, polyester and elastane these being core to the brand with their 100% organic cotton and recycled polyester. There are wide ranges of colors throughout the basics with most items having more than 5 color options. When looking at the mid garments, the price range is also 15-70€ and an average €44 however garments are usually €10 more expensive than respective basis. This price increase is likely due to prints and graphics being added, the color options within the mid are much reduced in comparison to basics, only having on average 3 or 4. The top items within the collection had 30-120€ with an average of €60, the garments then included more extravagant fabrics such as Alpaca, teddy and enhanced wool.

With all the colorways there were 450 unique garments. When grouping shades of the same or similar colors blue and black stand out with making up around half of the collection which pays to the large denim focus the brand follows. Other colors within the collection focus on neutrals with khakis and beige also prominent across the collection. Looking at prints we can see pinstripes and checks being used alongside more modern and trendy prints.

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analysis of the collection

RANGEPLAN

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Internal origin (attributes of the system)

External origin (attributes of the environment)

SWOT ANALYSIS

STRENGTHS

WEAKNESSES

- big existing customer group - H&M Group (financial safety) - fast lead times - large existing production background - large variety of products - collaborations - sustainable driven company - low price points - unique store environments

- dependence from suppliers - comparable assortment - low price can affect quality - possible dependence from H&M group - potential marketing and advertising on social media currently not fully utilized

OPPORTUNITIES

THREATS

- expanding stores (also emerging markets) - use digital transformation as target group has good affinity for social media - use sustainable trend and market it more

- not as known as competitors - fewer locations than most competitors - trend to slow fashion - lack of advertising - strong competition - being acused of doing greenwashing - fast changing trends to follow

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the brand extension

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EMPIRICAL RESEARCH: CUSTOMER SURVEY

Through the conduction a questionnaire, feedback and a clear picture on what Weekday is missing within the collection was collected. This method of research was chosen as an unbiased insight into where the brand is lacking and was done by looking at both instore Weekday customers and people within Weekday’s target group and asked them their size and age, in what aspects of their life they wear weekday, what they shop elsewhere for, if weekday offered this garment would they buy it. This then moved us into presenting our initial ideas of possible extensions, giving four ideas and the price points they would be willing to spend along with what kind of garments they would like to see. The results we got from our questionnaire gave a standout of people wanting a modern take on more formal clothing, throughout 18-28 this idea was shared. The price range was very mixed leading to a market extension within the €50-€150 bracket fitting most of our customers. Our questionnaire both confirms the target group we estimated for the brand along there being a gap in Weekday’s collection within the formal streetwear area, the questionnaire also highlighted that there is also a push from customers for more circularity within products especially with implementing more recycled garments and fibers. An overwhelming number of responses (47%) looked for a type of Blazer with 11% wanting shirts, indicating a customer demand and that these garments should play a large role in the extension collection plan.

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REASONS TO BELIEVE

Based on the evaluation of the customer survey, we saw the need in digging deeper into the topic of formal streetwear as we want to meet the demands of our customers.

From here on, we started researching current trends and trend forecasts for menswear. 2021 was all about slowly introducing the world to the trend of oversized garments, voluminous, playful statementshirts and eighties inspired suiting (see GQ Magazine, 2020). Due to the pandemic the past season was almost in a standby mode which leads to an even more innovative approach to the next season with a creative and reinvented energy. According to the main predictions for 2022 (see GQ Magazine,2021), roomy shirts will conquer the season and traditionally tailored styles are going to be replaced by ‘easy- wearing two pieces that can be as readily worn on the sofa as they can in an office or for a quick pop round the corner shop.’ (GQ Magazine, 2021).

As Weekday’s customers are early adopters and early majority, we clearly need to offer them the opportunity to follow these innovations and trends by expanding our product portfolio by fashion forward pieces. By correctly implementing such, one can foresee Weekday’s peaking when combining the current described trends and the already occurring demand of our customers for products within a line of formal streetwear.

The demand can also be confirmed by looking at what our target group is currently wearing when combining Weekday pieces. This has been done through a research of tagged pictures on the social media channel of Weekday. The target group clearly shares the main style movement of minimal style aesthetics just as Weekday. One can mostly discover denim items and basic (t-) shirts as the only products of Weekday within an outfit. Formal streetwear pieces, like oversized blazers, shirts and coats or even two-pieces are most likely bought from competing brands (from higher segments). This disproportion can also be explained when looking at the current range plan of the menswear collection, where product groups like blazers, coats or shirts are basically missing in the assortment. Here must be said that consumers are not particularly loyal to one specific brand but instead have a variety of brands to turn to. This can be a promising outlook for Weekday to successfully become the goto brand when it comes to more innovative and sharply designed key pieces.

Another worth mentioning point that underlines the general shift towards new kinds of formal wear, is the claim by Virgil Abloh about the end of streetwear in the 2020’s (see Dazed Magazine, 2019). After that, trends were navigating to a compromise between both- streetwear and tailoring- where comfort plays a big role. Here, the gap should be bridged by hybrid styles as Vogue Business was explaining the strategy to adapt to that trend (see Vogue Business, 2020). That compromise goes hand in hand with the aspirations of the Weekday customer about a modern take on streetwear that was confirmed in the customer survey.

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REASONS TO BELIEVE

“Now even the most sartorially autocratic workplaces are beginning to loosen their ties” (GQ Magazine, 2021). Due to the current circumstances of our society, the population is shifting away from pre-pandemic norms and bringing a new sense of comfort in the post pandemic world. There is a rising demand in relaxed fits as many jobs do not require strict formal uniforms as it was in the past.

When looking at the main competitors, the assortment consists of either casual or formal wear. However, the compromise between the two is lacking.

Considering all the mentioned above, the gaps found within the market can be filled with a new product line of Weekday.

The decision for the product development strategy is referring back to the Ansoff matrix. New products along the current assortment, will only be a medium risk since company growth, an increase of market share and capturing new customers is promised. By sticking to the general feel and the core values of Weekday, we terminate damages of the brand image.

We advise innovative but comfortable formal streetwear which can’t be found in the low end of the mid segment in the product groups blazers, trousers, shirts and coats. Within this segment, Weekday could set themselves outstandingly apart by remaining their well- known for a lower price point. This would be feasible and easy to implement through the already existing supply chain. The questionnaire highlights that the target group demands more recycled garments. As Weekday already is striving towards their set sustainability goals, we will also translate that value into the planned Weekday line. The usage of recycled fibers will predominate and can be sourced from present suppliers and manufacturers as those materials are found in the current collection as well.

Another argument for the extension by a formal streetwear line is the possible positive attention by promoting key items. Progressive pieces like two pieces, coats or shirts are more eye-catching than basics.

Therefore, this collection most likely can promise more visibility on social media. This success can be on one hand later be measured by looking at financial parts such as turnover growth and profits. On the other hand, the results from a successful implementation by a non-financial rise like social media growth as well as an increase in brand awareness are as important and effective.

The initial idea of the concept extension through comfortable formal streetwear is planned to completely match the brand’s general feel – conscious youth, joyful spirit and an urban zeitgeist as well as its core values - sustainable principles and focus on denim. One can say that the vision of the brand will be translated also into the new product line of Weekday by diversifying the product range within the men collection through adding redesigned and progressive pieces made from recycled materials. At the same time, the plan is to still harmonize with the prime color palette of neutral and accent colors, and the idea of oversized, rather unisex designs. This concludes that the operation will still correspond to the identity of the brand and just bridges the gap that was discovered within the product assortment of Weekday and the market.

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THE ANSOFF MODEL

The “Ansoff Matrix”, a tool used within business created by Igor Ansoff, introduces growth potential for a company by the help of four strategies which are summarized in a matrix (see ThemeGrill, 2018) Whether a business should offer existing or new products in existing or new markets is one of the outputs that are offered through the also known as product/ market growth matrix.

Next to serving as a base for strategic decisions, the Ansoff Matrix also compares the potential growth strategies with the associated risk increase depending on which quadrant one moves.

By examining the Ansoff Matrix model, the chosen strategy for the company Weekday in this case would be product development.

Applying the strategic recommendation of expanding the collection by a new line, Weekday will be using their existing market and launching new products alongside the existing assortment.

As stated in the matrix, a medium risk will occur by choosing the strategy of product development, where if successfully implemented the brand can benefit from great sales potential, and additionally increase value for their customers as they are appealing through an innovative line and adjust to upcoming trends. Thereby, the strategy is considered to protect and mostly increase own market shares and can lead to capturing new customers within the existing market which allows company growth. Undertaken in-depth research and a strong promotion plan are therefore essential when introducing new products to minimize loss.

As research has proven, the product development strategy would be the most appropriate as the consumer demand for a new line of formal streetwear is given based on the conduction of the customer survey.

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The Name of the extension Simple and straight on point we present the name of the brand extension:

TLRD - “ˈteɪləd.“ We catch up Weekday’s DNA by using minimalistic structures. The name breaks it down to the very essence of what we provide: tailoring. We abbreviate the word “tailored” by cutting out the vowels. For the reader, it is still easy to see how to pronounce TLRD as the umlauts phonetics implicates the original word automatically. Here we follow the big players in fashion like Valentino and their deconstructed VLTN Logo that was a huge success (Husodo 2018). Like our new suiting line, the name has been deconstructed and newly formed, leaving an easy-to-understand concept.

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THE 4 P’s OF THE BRAND EXTENSION - PRODUCT

Weekday’s TLRD debut collection showcases sharp design in the form of passionate creations with precise execution. Our union of Scandinavian minimalism, streetwear and tailoring is reflected in every piece.

Through the display of art combined with innovative suiting Weekday’s TLRD assortment is characterized by minimalistic, but at the same time loud pieces. Especially wide cuts that tend to be gender neutral build the core of the collection. The extension presents the product groups blazers, trousers, shirts and coats in oversized cuts perfectly combinable with the statement tees from the main collection. The color range is clean coordinated and features the following colors at its core: black, beige, brown and green. As matching colors dark green and magenta underline the basis. By using recyclable fibers, we develop a newly interpreted homage to the environment.

As main materials used in the extension, we focus on fabrics that are already used in the Weekday collection.

Wool blends and cotton gabardines for jackets and coats. Recycled cotton shirts, heavy cotton twills for a denim suit and progressive patterns for our top-range products will be featured in the collection.

Product Frame

In the TLRD collection, a total of 25 different options can be selected - 67 options counting the color options.

What is meant by color options are the different combinations of style and color. Within the product groups, TLRD works with three different fashion grades. It is noticeable in the collection overview that 47,76% percent of the total collection options represent the product group Shirts. It is assumed that the shirt, as a combination article, requires a higher (color-) selection than the rest of the product groups, as the article is cheaper and more versatile. TLRD also sees great sales potential on the market in the product group Blazer as this will be the product group that strikes the eye most in the looks, we will create. Also, the visual PR of the new line later the Blazers will catch people’s attention being the key pieces of the collection. Therefore, we advise blazers with a collection share of 23.88%.

Productframe Productframe 1st TLRD Collection (AW 2022)

Top : Bottom Ratio

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THE 4 P’s OF THE BRAND EXTENSION - PRODUCT Sizes

Countries of production

TLRD uses existing contacts with the main suppliers of similar products from the main collection. Therefore, the following production countries result for TLRD’s product range: Blazer: China for Wool (blends), Bangladesh for Denim Pants: China for Wool (blends), Bangladesh for Denim Shirts: mainly Bangladesh Coats: mainly China

TLRD will remain the size range as the mother brand.

Based on our survey and first-hand info from Weekday employees we advise to construct the TLRD collection to serve most of the existing customers. In fact, the size run is determined according to the sizes the Weekday customers know and are familiar with. Nevertheless, as most products in the collection can be referred to as unisex, pieces will also be offered in XXS. That is one size added on the bottom side of the current size range.

Size range TLRD: XXS-XS-S-M-L-XL

Product Range Overview – First detailed blueprint of Weekday TLRD 23

THE 4 P’s OF THE BRAND EXTENSION - PRICE STRUCTURE

According to the customer survey, the current Weekday clientele wants formal streetwear. So, in terms of pricing policy, this target group must be willing to pay our prices in order to serve them properly. With that in mind, TLRD orientates itself very strongly on the price ranges of the Weekday collection. Due to the elaborate collection in view of the construction of the ready-made garments, the average price of TLRD is nevertheless above that of the main collection.

Within the first TLRD collection the price ranges are as follows:

For financial matters it is interesting to take a close look at the average price, taking all the different color options into concern. We will refer to this as the weighted average price. After calculating the weighted average retail price for the individual product groups, the weighted average price of the complete collection can then be determined. Since the collection offers a substantial number of shirt options, you can see the average price is corrected downwards after the weighting.

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THE 4 P’s OF THE BRAND EXTENSION - PLACE Currently, Weekday has stores in 16 countries and the online shop ships to 97 countries all over the world.

Most stores are placed in cities with over 100.000 inhabitants which will be leading for the launch of TLRD within retail stores.

It will be advised to sell the new line of Weekday via web shop within a newly arranged body on the website and highlighted content on the home page and in stores of major cities (e.g., Amsterdam, Berlin, Hamburg, Munich, Paris, Stockholm, Barcelona, London...) to stress the exclusivity of TLRD by Weekday.

In terms of point of sale set up, a separate presentation in the entrance area is suggested especially during the first months after the launch. Besides, different hangers (e.g., beige wooden) and ceiling sign cards or table cards showing photos of the campaign plus screens displaying the latest image video will be placed to feature the distinctive section. By integrating shelf units and tables next to hanging clothing on walls and racks, clothing items themselves can serve as decoration and in combination with the point-of-sale material, the layout of TLRD can be enlivened for the customer. Also, only one article per size (XXS-XS-S-M-L-XL) for the sake of less density and setting up outfit ideas, as well as mannequins dressed in the key looks of Weekday’s TLRD within the separated area are suggested.

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THE 4 P’s OF THE BRAND EXTENSION - PROMOTION

Usual promotion of Weekday via social media and smaller sponsorships during a yearly festival WAY OUT will be taken one step further to introduce the new line named TLRD. Brand awareness will be raised through emphasis on social media channels which would follow up in Instagram and Facebook since this is the best way to reach described target group and large audiences. Moreover, this marketing strategy is most likely to give relevant information on products, and benefits and influences with inspirational content the customers purchase behavior. Promotional strategies might have to be adjusted since the number of followers on social media as an indication of importance, might be not reaching the majority of customers (only 633.000 followers on Instagram). Optionally Weekday can think of the use of poster advertisements around metropolis since it attracts attention of the wanted urban target group and can maximize the impact of the launch by combining print and digital media.

It would be beneficial to retain the interest of the customer and for the raise of the brand image, to schedule a launch party to celebrate the brands new line in order to give an opportunity to experience the Weekday brand in each aspect through an in-store experience (e.g., in store DJ or live music, engage with products, experience urban lifestyle) which leads to be well received by the customers of Weekday.

To promote the new line of Weekday, it might be necessary to reach out to important fashion bloggers starting a paid partnership. This can help with more engagements within social media, growing the consumer base and building a higher brand awareness in general since celebrities are endorsed into the new brand name and desire around the new line of Weekday is created.

The mentioned channels in total where the line will be promoted, will be extended by the already existing customer newsletter. Eventually, a campaign including a new image video in style of the new line TLRD will follow the same marketing style that was used in all previous listed options to memorize the evolved brand image.

Regarding promotion on the products themselves, exclusive and bigger labels out of recycled materials stating “WEEKDAY TLRD” will be attached (e.g., on deadstock denim/ cotton or recycled paper tags). Since the collection was designed to strive towards overall goal of Weekday’s sustainability, the labels of the new line will indicate QR on their labels which will forward the user to Weekday’s already implemented recycle program (in-store recycling bins) to ensure and engage customers participating in post-consumer fiber recycling.

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The target group of the brand extension for Weekday does not differ from the current target group very much. This is actually very beneficial, since it means that Weekday will not have to dedicate a lot of resources to overcoming social or cultural differences in promoting and selling the new product line. The brand extension is mainly catering to a gap in the market which the current customer seems to be missing, according to the various field research and surveys we conducted in support of the report.

As mentioned earlier, the current target group consists of youthful people with a passion and interest in culture, music, fashion and events relating to this. Currently the customers buy their casual everyday clothing from Weekday, which allows them to continually express themselves authentically. The current customers do not, however, have a clear brand to turn to when getting dressed for the more formal events that they often attend after work and/or studies.

TARGET GROUP - EXTENSION

Presently there are brands, like Weekday, that offer everyday clothing, or brands that offer typical evening wear for formal events. This kind of standardized evening wear rarely leaves any opportunity for the wearer to express themselves personally through the clothing. Nevertheless, the Weekday target group does not suddenly cease to wish to express themselves through their style only because the dress code changes from day to evening wear, which is exactly why this brand extension of forward-thinking formal street wear is being created.

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MUZE

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COMPETITOR MATRIX - 4,300 H&M stores worldwide

- 1,300 Uniqlo stores worldwide

- First opened its doors in Västerås, Sweden in 1947 and emphasises high volume sales of trendy and inexpensive clothing

- First opened its doors in Hiroshima, Japan, in 1984 and emphasises lowcost, everyday fashion that doesn’t go out of style

- Offers customers featured products that have been marketed as designer collaborations with well-known names

- Several innovations and collaborations take place to make the brand more exciting

- Does not manufacture its products in-house but outsources its production to more that 900 independent suppliers around the world

- The pricing strategy is consistent: low prices for all items thanks to owning the whole production line

- The most popular target group is women ageing between 15 and 30 years living in urban regions

- The target market is extensive: the idea is to fit almost everyone, but their target market includes trendy young-urban-professionals above all else

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COMPETITOR MATRIX

- Has set a science-based target to reduce greenhouse gas emissions and, use 100% recycled/sustainable materials, by 2030 - Offers a recycling program where you can return clothes from any brand in-store - Uses renewable energy for part of its supply chain, has policy approved by canopy style to prevent deforestation of ancient and endangered forests - Uses eco-friendly materials like organic cotton and recycled polyester in some products - Among the first to stock a ‘conscious’ sustainable fashion collection in its stores - Majority of materials used are not eco-friendly, and the brand still operates under a fast fashion business model - While it has set a science-based targets, there is no evidence it is on track to meet its target - Has a repair and reuse program and uses some eco-friendly materials - Has a policy approved by Canopystyle to manage forestry in its supply chain, and reduces water use in some spots along the way - Has set a climate change target to reduce emissions in its supply chain, but does not report the progress - The target has not been accepted as science-based → impossible to determine whether it’s in line with what the lates climate science says is necessary - Minimalist prices and slower fashion in comparison to other big clothing retailers

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COMPETITOR MATRIX

- The brand focuses on making fashion accessible and enjoyable for all - Instead of creating is own fashion trends, the company quickly goes after trends that are set by the competitors and on the runways - Creates collaborations with some of the biggest luxury houses/names in fashion - Products fit a wide range of people often going from XS to XXL - Offers various different items and color options for many of them

- The brand focuses on minimalism and that is one of the strongest points of differentiation - Doesn’t really follow fashion trends, but creates collaborations with famous designers and artists - Prints are not very popular in the assortment, artists work with the brand to create unique designs mainly on t-shirts - Products fit a wide range of people often going from XXS to XXL - Offers fewer items but more color options for each of them, so when a customer like a product, they might buy it in several colors

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THE SUSTAINABILITY

Sustainable materials, increasing the number of materials with recycled content.

Currently 24% of the collection uses recycled content with all polyesters being recycled, however when this is mixed with other fibres, they cannot be recycled.

Removing poly-cotton blends and replacing with 100% recycled polyester and 100% organic cotton will allow the garments to be further recycled again as part of the current recycling system which can be further extended to post consumer fibre recycling (A1 waste according to NTA 8195 Circular textile standard). Partnering also with IKEA for their up-cycled denim collection would be both good for brand exposure to new customers along with provide a new source of income from denim waste. The KLIPPAN sofa covers currently contain 40% recycled denim, by pairing two Swedish companies both with modern Scandinavian design as their core and the denim collection being one of Weekday’s unique selling points, the collaboration would fit both brands perfectly and could be sold in both IKEA and Weekday stores as a key example and of how customers can see their post-consumer waste recycled into new products. Offering discounts with the hand in of the denim would also promote the collaboration.

Introducing a partnership with a clothing renting provider for items within the top category. For items such as blazers and jackets will provide solutions to weekday customers who want to avoid buying such items for one time uses. Brands like Lena provide renting options already with competitor brands like COS however focusing on the women’s collection only, missing out on menswear completely.

Partnering with Lena would give economic growth opportunities as there currently is a large gap in the menswear rental market, growth of the rental market optimises on new and existing customers where a €160 trench coat can be rented out for €3 a day meaning that after being rented out for 50 days, the garment would be making more profit than if sold at retail price, therefore creating new sustainable economic opportunities. Not only is this an opportunity to give current customers more retail options, it will also attract new customers who already use rental services along with cement Weekday as an innovator within sustainability by publicly partnering with the rental industry.

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CONCLUSION

So, what do we advise Weekday to set up as a brand extension? What would be a coherent and profitable addition to the current portfolio?

To answer that, quickly bring Weekday to its core back into your mind.

Weekday is all about Scandinavian minimalism, urban culture and awareness about society as well as our beloved planet. The Weekday customer is an outgoing person, very conscious about what he is wearing and strongly opinionated. So far, this clientele is being served a large variety of garments in the collection. Wide T-Shirts and Hoodies dominate the product range as fast selling, trendy streetwear pieces. Last in line of all product groups stands the Blazer with the count of one single style. Expecting a shift in the streetwear culture towards influences of formal wear, that might seem suspicious already. But what do Weekday’s customers want? The evaluation of our survey points out two things particularly strong. Recycled products and street fashion with a tendency to tailoring would be highly appreciated. For 2022 the new interpretation of suiting was already predicted to be a major fashion trend. As a fashion-forward brand Weekday cannot miss profiting from that vogue. The implementation would be comparatively easy.

Given structures can be put to use. That applies not only to the wide range of existing manufacturers, but also to Weekday’s target group.

By presenting new products valued by the majority of the existing target group the risk of the expansion project is being minimized. In order to preserve and stress the aware handling of the environment the new line named “TLRD” will offer better recyclable fabrics and a clothing rental system for specific garments. To step into action, we advise forming a team of highly qualified personal in charge of TLRD. This team shall get inspiration for the new collection by our detailed suggestions of this report and from the fashion shows for Autumn/Winter 2022 in upcoming January. Also, contact your suppliers and block capacities to ensure suitable production lead-times. By the end of the first quarter 2022 the promotion strategy for TLRD`s launch should be settled.

In this report, we only reflect on menswear. For the future, it certainly would be of interest, to cover the women’s section in a corresponding report.

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