Manolo blahnik Project 2015 (PPT) - Part 2

Manolo Blahnik ‘Hangisi’ Jeweled Pump Team 3: Sidney Rosene, Courtney Woodard, Justice Coburn & Marissa Smith Retail Management 27-2910-02 Fall 2015 Date Submitted: 12/3/2015 Purpose: To Broaden Knowledge of the Merchandising Mathematics and use of Excel in Decision Making Instructor: Sandra Henderson Williams

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Table of Contents ●

Overview ………………………………………………………………………… 3

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History of Manolo Blahnik …………………………………………………4

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Competitors ………………………………………………………………………5

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Ideal Retailer ……………………………………………………….……………6

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Target Customer …………………………………….………………………… 8

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Retail Selling Price & Cost and Markup………………..…………… 9

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Raw Materials…………………………………………………………………… 10

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Fixtures and Square Footage………………………………………………11

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Marketing Direction………………………………………………………….…12

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Merchandising Plan………………………………………………………………13

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Cost Sheet……………………………………………………………………………15

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Work Cited ……………………………………………………………………………16 2

Overview: 'Hangisi' Jeweled Pump ●

RSP: $965.00

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Salon shoe made in Italy

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Composed of Satin fabric, leather lining & sole and Crystal Ornament

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4’’heel; 105 mm pitch

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Packaging:

White Shoe Box with Manolo Blahnik logo (black) , white label containing detailing including style/model, color, size info and logo, Off white Dust Bag featuring “MANOLO BLAHNIK” white logo across the center 3

History of Manolo Blahnik ●

Born and raised in Santa Cruz de la Palma, in the Canary Islands (Spain)

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Homeschooled

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Graduated in 1965 from University of Geneva with a degree in Literature and Architecture

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Moved to Paris in 1965 and studied Art at the École des Beaux-Arts and Stage Set Design at the Louvre Art School

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Worked at vintage clothing store

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1968 moved to London and worked for a fashion boutique called “Zapata”

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In 1970, Vreeland, editor and chief of US Vogue, looked him straight in the eye and said, "Young man, do things, do accessories, do shoes."

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With a loan of £2,000, Blahnik bought Zapata from its owner and opened his own boutique

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First man to be featured on the cover of U.K. Vogue

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In 1977 his shoes sold in America at Bloomingdales

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From 1987-2011 Blahnik has won 10 awards for his remarkable designs and creativity

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He has been designing shoes for 45 years

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Blahnik shoes are located in 20 different countries

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Competitors 1.

Louboutin

2.

Prada

3.

Jimmy Choo

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Yves Saint Laurent

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Valentino

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Alexander McQueen

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Ideal Retailer

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Nordstrom Founded in 1901 by John W. Nordstrom and Carl f. Wallin. This upscale retailer originally began as a shoe retailer later expanding its inventory to include clothing jewelry, accessories, handbags, cosmetics and fragrances. There are over 300 stores in the United States and Canada, including 119 full-line store, 183 Nordstrom Racks, 2 Jeffery boutiques and 1 Nordstrom Last Chance clearance store Retail job qualifications-shoe department: ●

Have a high school diploma, or equivalent (preferred)

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Proven ability to set and achieve sales goals

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Competitive drive and entrepreneurial confidence to succeed in a commission-based environment

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Demonstrated ability to develop relationships with customers and coworkers

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Knowledgeable and enthusiastic about fashion

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Ability to positively and proactively handle customer concerns and prioritize multiple tasks in a fastpaced environment

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Ability to quickly learn new procedures and processes

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Strong organizational and follow-through skills

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Excellent communication and interpersonal skills

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High level of ownership, accountability and initiative

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6-10 associate in the shoe salon

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Target Customer Demographic and Psychographic ●

Women

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Ages 25-50

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Top 1% of wealth income

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Large disposable income

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Popular amongst brides

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Sex and the City viewers

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City living

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Lover of fancy things 8

Retail Selling Price & Cost and Markup ●

Fabric costs $40-$60

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Jewel embellishment costs $75+

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The heel costs $30

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Labor costs approximately $40-$60

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Shipping and distribution from the Italian factory could cost $20-$30

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Equaling a wholesale price of approximately $250 for the shoe

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Other cost factors are distribution to retailers and packaging

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Then with retail markup, the shoes have a selling price of $965

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Raw Materials ●

Satin Fabric (evening primed shine)

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Jewel Embellishment with crystalencrusted sparkles; buckle measures 2 inches square

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4 inch stiletto heel (105 mm); self covered

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Leather sole; finished with padded leather lining and inside

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Fixtures and Square Footage Fixtures ●

High quality furniture shoe store fixtures.; table set for shoes

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2-6 units per each table size

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4 units per each size run, color & style

Square Footage ●

30 sq. ft. (11 chicagoland nordstrom store locations that sell Manolo Blahnik)

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$6,060.00

[30*11=330 total sq.ft] [net sales 2 million] ($2,000,000/330=$6,060.00)

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Marketing Direction Manolo Blahnik is not a brand that does advertising or promotion. Any advertising done involving the brand is done by the stores that sell the shoes such as Bergdorf Goodman.

Blahnik has been quoted regarding the matter “Manolo, who doesn't advertise or show his collections, says he tries to "never get into the trap of trends", preferring instead to maintain his hallmark light, feminine look.

"My shoes don't change drastically from season to season," he says. "I think it's awfully rude to ask someone to pay a lot of money for a pair of shoes, and then have them be 'out' the next season. People are not stupid. They know what they want, and they should get it.“ – Hello Magazine 12

Merchandising Plan

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Merchandising Plan with Formulas

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Cost Sheet

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Work Cited ●

"Life's Work: Manolo Blahnik." Harvard Business Review. N.p., 01 Dec. 2010.

Web. 27 Nov. 2015.

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"Manolo Blahnik 'Hangisi' Jeweled Pump (Women) | Nordstrom."Nordstrom.

N.p., n.d. Web. 19 Nov. 2015.

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"Manolo Blahnik." Vogue UK. N.p., n.d. Web. 19 Nov. 2015.

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"Manolo Blahnik / - Design/Designer Information." Manolo Blahnik / Design/Designer Information. N.p., n.d. Web. 28 Nov. 2015.

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