HOW PAUL SMITH CAN ENGAGE YOUNG GENERATIONS BY LAUNCHING A PRE-LOVED SERVICE

Company Background

In 1970, Paul Smith opened its first shop 3x3 metre in Nottingham. Now the brand has 130 shops in 60 different countries. Sir Paul Smith’s statement, ‘You can find inspiration everywhere’, has become one of the core values of the brand. As a result, the design is inspired by arts, music, everyday life and cycling, one of Paul Smith passions.

Mission and Vision

Paul Smith designs are characterized by a sense of humour, and it is associated with a colourful style, the iconic stripes, and a strong British heritage.

‘Classic with a twist’ is the main concept which guides the brand.

• Stripes

• Logo

• Colourful designs

Personality Physique

• Sir Paul Smith himself

• Playful and quirky way

• Creativity

• Taking inspiration from everything

Increasing sales by 15% among Gen Z and Millennials by the 30th April 2024

Reaching 1000000 of subscribers in Europe and North America by the 31st October 2024

Getting 0.1% of market share in the pre-loved market by the 31st October 2024

• Long lasting

• Own unique pieces

• Eye-catching

Relationship

Culture

• British heritage

• Playing with colours

• Tailoring

Self-Image Reflection

• Unique

• High quality

• Elegant with colourful touch

• Uniqueness

• Gentlemen

• Up to date with trends

• Someone that would be noticed

Loyalty cards / subscriptions

Other brands have already started to enter the pre-loved market by collaborating with second hand players (e.g Chloé with Vestiaire Collective), so Paul Smith has decided to adopt a Blue Ocean Strategy to distinguish from its competitors by launching ‘Re-Wear PS’ online and offline in collaboration with Oxfam. The service will also offer a subscription plan where individuals can gain benefits

One of the factors that 3/4’s of Americans consider before making a purchase is whether the brand joins charitable initiatives

American Gen Z and Millennials who would change to a brand involved in charity initiatives

Consumers prefer purchasing from brands that offer membership plans. In the US, younger generations are more open to engaging with online subscriptions

Gen Z Millennials

Both Gen Z and Millennials are struggling with mental health. Indeed, the top concerns among these generations are climate change, the economy and the rise of living costs Due to their social concerns, both generations tend to buy from brands that share the same values and engage with social issues, such as transparency, sustainability and inclusivity

Consumers state that loyalty programmes increase chances of continuous buying from that company Sharing values

MATTIA GUIDETTO UNIVERSITY OF THE ARTS LONDON 20037432 BA (HONS) FASHION MARKETING FREE Standard Buy Now 50% revenue the sale 5% discount new Paul Smith product Reserving an item through the app or website £ 0.99 /mo Plus Buy Now 70% revenue on the sale 10% discount on new Paul Smith product Reserving item through app website for day £ 4.99 /mo Premium Buy Now 15% discount new Paul Smith product for days

“YOU CAN FIND INSPIRATION IN EVERYTHING”

61% 77% Charity initiaitives

Sustainability Wellbeing Ethics The membership plans App Promotional campaign 1 The brand

64%

global pollution of the

clothes produced each year

Responsible for a fifth of 300 million tones of the global plastic production 2 The Fashion Industry Issue What is driving the growth of pre-loved market 2011 4% of market share in the fashion industry 2031 19% of market share in the fashion industry Market share Market value $ 141 billion value in 2023 $ 218 billion value in 2026 Uniqueness Sustainability Affordability 3 The Pre-loved Market 4 4 Related Trends

Target Consumers

10%

responsible of

32 billion

end up in landfill

5

X 6 Proposal Strategy 7 Objectives 8 Artefact

Market

Sales Loyalty

Reels tomholland2013 Follow proud to ambassador this Paul Smith initiative, since overconsumption problem the fashion industry launched Paul Smith collaboration with Oxfam emmawatson Download the app now And remember to subscribe to get six months Plus Plan for free Re-Wear PS Following Fo Yo @kitjohnson My new Paul Smith outfit bought on Re-Wear PS Original Sound day ago Sign up Re-Wear PS Login 19:21 New Arrivals All Items Re-Wear PS 19:21

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