Project Brief The purpose of FASM 430 Portfolio Practices is to develop a senior capstone project over a ten week period. Within this project, I have analyzed marketing trends, the millennial demographic, and what I believe to be a way for Carolina Herrera to reach a younger customer.
Table of Contents Page 2
Company Overview Page 6
Customer Profiles Page 12
Competitors & Marketing Trends Page 16
The Market Page 30
Social Media Strategy Page 36
headquarters New York, New York boutiques CH and Carolina Herrera Boutiques located globally products Handbags, Luxury Apparel, Fragrance, Eye-wear, Bridal fashion week venue The Frick Museum awards and honors SCAD Etoile Award, Geoffrey Beene Lifetime Achievement Award
Carolina Herreraâ€™s story
arolina Herrera started her brand in
1981 with the encouragement of Diana Vreeland. In the past years, Mrs. Herrera has grown her well respected brand into an international level. Her designs are known for being ladylike, elegant, and feminine. Carolina Herrera has just celebrated her 35th anniversary.
Customer Profiles & Psychographics, Demographics
y 2035, the millennial market may potentially
become the largest spending generation in history. Millennials are advancing in their careers and beginning to earn disposable incomes. What makes this generation unique is that millenials prefer to spend their income on experiences versus items. As luxury brands begin to notice this, they are adapting and creating interactive ways to market towards millennials.
22- 45 College Educated
Live in cities & Surrounding suburban Areas
Single or committed relationship
College Graduates Working in the corporate world or creative industry
Enjoying traveling and learning about different cultures
Value living a healthy lifestyle and working out
Active on social media platforms and post to various outlets
Customer Profiles Name: Grace Age: 24 Occupation: Merchandising Assistant Marital Status: Single Income: $45,000 Neighborhood: Lower East Side Social Media Sites: Instagram & Snapchat
race is a young professional who graduated from Depaul in Chicago. She landed a merchandise job with Tory Burch and moved to New York. Starting her new career she looks at House of Herrera for style inspiration. Outside of work she enjoys exploring the new city she calls home. Grace considers herself a foodie and has an on going list of restaurants shes been waiting to try. Her most active social media platform is Instagram.
Name: Sophia Age: 29 Occupation: Marketing Manager Marital Status: Committed Relationship Income: $80,000 Social Media Sites: Instagram, Snapchat, & Facebook
eet Sophia, who just received a major promotion, as a Marketing
Manager. Since Sophia is dedicated to her job, she enjoys relieving stress with long runs by the Hudson. She has been dating her boyfriend, Roberto, for three years and hoping he will propose this spring. With weddings on her mind, Sophia is constantly looking at the new Carolina Herrera bridal collections. She knows what style of dress she wants, now she just needs the ring.
Name: Jennifer Age: 36 Occupation: Public Relations Director Marital Status: Married Income $120,000 Neighborhood: Upper East Side Social Media Sites: Facebook & Instagram
ennifer is the quintessential boss
lady. Having graduating from NYU she knows the power of hard work and determination. She never doubts the power of a classic white shirt to get her through a long work day. She loves living in New York and being surrounded by creative individuals. Jennifer and her husband, Eric, just recently just bought their first apartment together in the Upper East Side.
Competitors & Marketing Trends
ompetitors are approaching
experiential marketing trends in different ways and seeing results from new demographics.
Hermes: pop-up shop
Hermes recently collaborated with Nordstrom to launch an in-store pop up shop. Creating an experiential element by letting customers view their famous scarves through an interactive exhibit. Curated Hermes merchandise such as silk scarves, jewelry and bracelets are being sold.
Ralph Lauren: coffee shop
Customers are encouraged to browse and enjoy the atmosphere of Ralphâ€™s coffee at his 5th ave store. By creating a cafĂŠ space, customers are invited to stay and experience the Ralph Lauren Brand in a different way.
Fendi: flower cart
This past spring, Fendi collaborated with artist, Asumo Makato, to transform a vintage Vespa into a flower cart. The flower cart offered two exclusive bouquets available to purchase at the Fendi Flagship store in Japan.
Oscar de la Renta Although Oscar de la Renta has not recently done any experiential marketing, they can still be seen as a competitor to the Carolina Herrera. Oscar de la Renta is in the works of creating a capsule swim suit collection with up and coming designer, Flagpole Swim.
Mrs. Herreraâ€™s Flower Market
rands are producing innovative
ways to attract new customers. Taking a different approach to retail and incorporating experiential elements, pop up shops are a way for brands to extend their vision to their customers. Creative and eclectic spaces also create social media attention and awareness. All of these aspects are the inspiration behind the creation of Mrs. Herreraâ€™s Flower Market.
Upper East Side, NYC
O ne of the chicest neighborhoods in New York, the Upper East Side would be the per fec t location for the Flower Market. At trac ting the similar customer of Carolina Herrera and CH Carolina Herrera boutiques, this location would be easy to access and receive foot traf fic. Ever y uptown girl loves a beautiful, instagramable flower market
D uring the month of a May, a retail space will be transitioned into a pop up floral market. The space will stay in the Upper East Side for a month and if successful in the first month, hopefully future plans will be made to extend into June. Spring is the best time because it is the most refreshing season and people are happy to be outside after a long winter. Flowers are always suiting in the spring.
Elements I n the flower market, elements would be added to create a space where customers would want to stay and shop. Incorporating a cof fee bar is an easy way to get customers through the door and experience the brand essence in a dif ferent way. Bistro seating outside is the idyllic spot to enjoy a cup of cof fee. Greener y outside consists of boxwoods that mimic the design of the Carolina Herrera of fice space. Of course, a bouquet design space is the main at trac tion in a flower market. Customers can create their own design or purchase one of the bouquets designed by Carolina Herrera.
Bouquet design space
Cafe Seating Outside
Bouquets & Sourcing Flower Supplier: Dutch Flower Line
Location: NY, NY
T here will be two bouquets available for purchase designed by Carolina Herrera. The bouquets will incorporate flowers that have served as inspiration to the house, such as Jasmine. In addition to the bouquets, customers will be able to design their own bouquet from the flower bar.
Pink Peony Bouquet
T he Jasmine Bouquet is inspired
T he feminine Pink Peony
by CH Falling Jasmine. This bouquet
Bouquet is inspired from the
incorporates jasmine, softer greens, and
shades of pink in the S/S â€˜16 runway
white peonies. The abundance of these
collection. Assembling pastel pinks,
blooming flowers create a timeless and
delicate greens, and off whites creates
classic bouquet that reflects House of
a whimsical and sweet bouquet.
Within the flower market, CH Carolina Herrera merchandise would be sold such as small leather goods, key chains, scarves, perfume and jewelry. These goods are more suited towards the price point of a younger demographic and away for customers to become apart of the Carolina Herrera brand. Carolina Herreraâ€™s new coffee table book would also be a great addition to the merchandise sold in the market.
Social Media Strategy
Produce content representative of a younger brand, while staying true to Carolina Herreraâ€™s brand identity. Enlist faces of Carolina Herrera, like Karlie Kloss and Emmy Rossum, to participate in social media plans and posts. Increase social media engagement to help grow relationship with followers. Create more content for Snapchat and Instagram Stories to grow follower presence. Collaborate on a video with fashion publications, such a Vogue or Harpers Bazaar, who have a Youtube presence.
Content Calender April
C reate content for social media platforms and collaborate with Vogue on a youtube video about Mrs. Herreraâ€™s favorite flowers.
S ecure pop up space and finalize design plans to order furniture, products, and flowers.
Finish constructing the market.
April 30th Soft Opening
L eading up to the opening of the flower market, friends of the house, magazine editors, and fashion influencers would be sent smaller bouquets inviting them to a coffee with Carolina. Guest would be encouraged to post their bouquets on social media.
L ast weekend of the flower market. Feature certain bouquets and products on social media platforms. If successful the first month, the market will hopefully be
M rs. Herrera and Karlie Kloss help open the first official weekend open to the public.
May 1-5 Official First weekend
S nap story featuring Emmy
continued for another month.
Rossum giving behind the scene view of the Flower market.
lilyaldrige, taylorswift, and 8,932 others houseofherrera #CHFLORALMARKET Opening this week! Follow along for more
emmyrossum, gigihadid, and 10,652 others houseofherrera #CHFLORALMARKET Come visit our new flower market in West Village
Sit. Sip. and Shop. this weekend at Mrs. Herreraâ€™s Flower market. Make sure to share! #CHFLORALMARKET
All images sourced from: www.pinterest.com www.carolinaherrera.com
http://www.scmp.com/destination-macau/article/2021634/millenials-are-redefining-luxurysearch-more-originality https://www.luxurydaily.com/luxury-is-meaningless-or-why-millennials-want-more-than-just-abrand/ http://www.forbes.com/sites/jefffromm/2016/03/29/luxury-travel-trends-shift-as-affluentmillennials-act-on-their-aspirations/#b5f7c8a22b47
http://www.businessinsider.com/luxury-fashion-good-millennial-consumers-kanye-west-2016-2 https://www.businessoffashion.com/articles/bof-exclusive/carolina-herrera-resort-collectionsnapchat-sweet-kiernan-shipka http://www.telegraph.co.uk/fashion/milan-fashion-week/meet-the-milan-ennials-how-luxuryfashion-houses-are-trying-to-w/
Katie Schiewe | FASM 430 | Professor Taylor