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Concept Development YoonHee Choi
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Contents
Executive Summary
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Concept 1.1 Concept Statement
9 - 11
Brand Ethos 2.1 Ethos and Values of YOONHEE CHOI 2.2 Symbolity of logo 2.3 Ethical Approach
15 15 16 - 17
Consumer 3.1 Consumer Decision Journey 3.2 Analysis of Questionnaire Result 3.3 Consumer Profiling 3.3a Direct Consumer 3.3b Indirect Consumer
21 22 - 23 24 24 25
Competitors 4.1 Style based Competitors 4.2 Price based Competiors Market Positioning 5.1 Identifying the Market 5.2 PEST Analysis
29 - 39 40 - 45 49 50 - 51
Retail Positioning 6.1 Visual Retail Idea 6.2 SWOT Analysis 6.3 Price Architecture 6.4 Range Overview
55 56 - 57 58 59
Supply Chain 7.1 Price Strategy based on Expected Product Life 7.1a Price Strategy for General Line 7.1b Price Strategy for Exlcusive Line 7.2 Inventory Control 7.2a Inventory Control for General Line 7.2b Inventory Control for Exclusive Line 7.3 Suppliers 7.4 YOONHEE CHOI Supply Chain
63 63 63 64 64 64 67 68-69
Conclusion 8.1 Future aspects of YOONHEE CHOI
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Appendix
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Bibliography
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Executive Summary
The brand’s overall inspiration, aims and ethos are represented through the brand symbol within the report. This report provides quality information on S/S 2014 seasonal collection such as design related elements, concept, inspiration and development. The quantitative information is also researched thorough various mediums such as market positioning, PEST analysis, identification of potential customers and questionnaire. YOONHEE CHOI successfully integrates both qualitative and quantitative brand values into one segment in order to satisfy fashion people’s need. The more detailed approaches for overall brand efficiency are also added in the report. The specific value addition chain, inventory control system and product life cycle analysis are ultimately adding more value to S/S 2014 seasonal collection and reducing overall business cost at the same time.
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1.1 Concept statement The Brand YOONHEE CHOI aims to provide glamor chic women’s footwear in luxury market starting with the very first season collection for Spring and Summer 2014. For the first collection launch, the designer YOONHEE CHOI approaches the concept “capturing the moment” from 570 Megapixel Camera. Unlike its massive size, this modern structure contains various combinations of colours and sophisticated details. The designer finds out more about different camera techniques that can reinterpret a point of a certain moment. Despite the structural and material inspiration from the camera, YOONHEE CHOI developed design inspiration further by looking into what we can experience through the “eyes” of camera.
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Concept Board 2
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Concept Board 1
From Michael Woods - “We’ve only just begun”
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2.1 Ethos and values of YOONHEE CHOI YOON HEE CHOI is a contemporary brand that creates experimental, unique and sculptural shoes that present glamorous chic footwear for women. It promotes exceptional, luxurious and qualitative images, which differentiate YOON HEE CHOI from existing contemporary brands. The overall inspiration is expressed on the design as various forms of shoe details. These details are derived from structural silhouette of an environmental element or abstract. The brand does not aim for commercial merchandise and monetary profit, however it aims to deliver YOON HEE CHOI’s challenging and experimental identity to customers who love to cultivate their beauty. YOONHEE CHOI produces promotion videos for every seasonal collection in order to help customers to understand the overall concept. High quality leather, handcraftsmanship and material development will add value to YOON HEE CHOI’s wide range of shoe portfolio. YOON HEE CHOI can be found on designer’s shops, independent stores, exclusive department stores and YOON HEE CHOI’s online shop.
2.2 Symbolity of Logo The brand name YOONHEE CHOI is directly quoted from founder’s name. The meaning behind the name of YOONHEE in Korean language is “True Happiness” and it is also the designer’s hope for the customers to feel the “True Happiness” by wearing her shoe. The three colored in circles represents the key design elements of glamor chic, experimental craftsmanship, and innovation.
Logo Experiments 11
Creative shoebox design from (left) Puma and (right) Superga
2.3 Ethical Approach YOONHEE CHOI takes ethical approaches to the production process and the selection of materials. Especially, it focuses on the sustainability of clean environment. Packages are specially designed therefore a set of packages can form a shoe wardrobe. This will discourage disposal of packages.
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Sustainable Packaging Sample
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YOON HEE CHOI researches into CDJ and targeted potential customers to predict market reaction and designing demand on initial collection. The CDJ based questionnaire is constructed to gather quantitative information, which can be analyzed for consumer profiling data.
CDJ diagram
3.1 Consumer Decision Journey For the brand ‘YOON HEE CHOI’, consumer decision journey (CDJ) is identified in order to understand the complex consumer reaction to its new collection. CDJ provides the brief view on consumer‘s brand choice options and channel of brand acknowledgement including competitors. Once the pre-purchase journey of potential customer is visualized through CDJ, it reflects on a profiled customer’s purchasing process and buying experience. Overall, it does advocate two-way communication between ‘YOON HEE CHOI’ and potential customers leading to substantial brand loyalty and identity.
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Questionnaire Research Result in Graphs
3.2 Analysis of Questionnaire Result YOON HEE CHOI selects 100-sample population of women. The distribution of questionnaire uses a medium of social network system such as Facebook in order to maximize geometric coverage and, to have wide range of different characteristics of chosen samples. Following obtained data is presented with graphical explanation for better understanding. The limitation of this quantitative analysis to business application is that the sample size seems to be too small to represent whole population or expected potential customer of YOOH HEE CHOI. In addition, only one distribution channel of social network is used for the sample collection. However, the brief picture of customer’s wants and needs are researched. YOON HE CHOI’s target age group is between 26 to 35 years old, which takes up 28% out of 100 samples. The reason for such target selection is because the age group between 26 to 35 years old customers is more likely to have enough financial ability to afford YOON HEE CHOI’s new collection. In fact for targeted age group, 20 out of 28 respondents are paying more than £250 for a pair of shoes. According to the questionnaire, individual uniqueness and quality are affecting potential customer’s brand choices in great extent. Respondents are placing their choice priority on individual uniqueness (42%) and quality (45%). YOON HEE CHOI applied two major elements to its shoes regarding CDJ. Customers will be likely to consider a purchase of YOON HEE CHOI because 16
Questionnaire Research Result in Graphs
their expectation from their spending is fulfilled. Strong brand identity will be obtained as well as competitive position, encouraging actual purchase of the brand. If two elements are successfully adapted to the design, it will influence post-purchase of customers. In other words, this will create customer loyalty leading to strong pricing position. The marketing mediums are revised on the result of the questionnaire. 51% of respondents are getting information on seasonal collections. The extensive marketing should be carried out on seasonal collection in order to provide design, price, product range and other brand related information. This will affect consumer choice and their evaluation on CDJ because effective marketing will attract more customers toward YOON HEE CHOI. However, other marketing medium such as fashion magazines and Internet should not be ignored. In fact, 37% of respondents are getting information thorough these sources. The supply chain will also affect CDJ especially on purchases of customers. According to the questionnaire, 40% of customers are buying shoes from department stores and 37% are buying from specialty stores. YOON HEE CHOI considers selecting online, department and specialty stores as its major distribution channels. YOON HEE CHOI adds customer care services on distribution channel to influence not only customers’ consideration and actual purchase but also post-purchase on CDJ. This will be possible only if YOON HEE CHOI has strong brand loyalty, perhaps, through out customer care. 17
3.3 Consumer Profiling
Consumer Boards
3.3a Direct Consumer Age : 26 to 35 years old She is a professional, almost reaching to the point of self-actualization in some time. She does not take the job security into consideration anymore however, focuses much on life quality for herself. She loves to go out shopping when she found an interesting new collection from her favorite brands such as Balenciaga and Alexander Macqueen. She does not care other people attention on how she wears therefore she is not afraid to explore and try something new in fashion. Her average spending on designer’s pair of shoes is between £400 and £700 however, she is more than ready to pay over £650 for a pair of shoes that she dreams of. She also takes the shopping environment into account because she wants to be treated with courtesy and respect for the money she pays. Department stores, boutiques or specialty stores are her loving shopping places. 18
3.3b Indirect Consumer Age : 18 to 25 years old She is a student or junior professional from prosperous family therefore she is renting a property or shares a flat to shave her spending. She is sensitive in what she wears and how people wear. She mix-match fashion items and likes to give a charming point at a certain fashion items she wears therefore she spends more on eye-catching key fashion items, especially on footwear. Her fashion style can be defined as unique and modern. She does not take shopping environment into consideration greatly and she normally shops at department stores and online shops. She likes reading fashion magazines to find information such as prices, new design on seasonal collection and available stores for her favorite brand.
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YOON HEE CHOI’s main competitors can be grouped into two categories; style and price point.
4.1 Style based Competitors
Alexander Mcqueen is a UK based designer. He had built a strong brand image with five shocking fashion stages until his death, starting from his a first collection show in 1992. Consumers, influentials from fashion industry and media started to recognize his iconic brand styling and design. This recognition reached at the peak and continued until today. He created his world of art from various concepts, inspired from movies, environment and history. This conceptual inspiration cannot be understood only by his fashion items but to combine with stage, models, music and performance, forming installation art as a whole. This uniqueness of the brand is today’s trademark for Alexander Macqueen.
4-5 Old Bond Street London, U.K. W1S 4PD 442073550088
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Alexander Mcqueen’s iconic scarf
Product Range
Website www.alexandermcqueen.com www.m-c-q.com
Range: 10 Styles for one collection Flats/ Boots/ Pumps/ Booties Color Range: Black/ Beige/ Red Price Range: £300 - £1100 Size Range: U.K. Ladies 3-8 Materials: Studs/ Rubber/ Buckles Heel Sizing: 0mm - 125mm Fall/Winter 2012 Collection
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London
Flagship Stores
New York
Milan 23
12 Mount Street London U.K. W1K 2RD 442073174400
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Balenciaga is started in 1937 in Madrid, Barcelona and San Sebastian. The founder Christobal Balenciaga creative impact is still remained in these boutique centres. He is said to be a mentor of other leading designers such as Givenchy, Andre Courrege and Emanuel Ungaro. The current creative director is Nicolas Chesquiere and he had added modern sensation to the brand’s design. The brand’s S/S collection in 2013 is rated as the best by byers and fashion critics.
Spring / Summer 2011
Fall / Winter 2012 Collection
Product Range Range: Color Range: Price Range: Size Range: Materials: Heel Sizing: Website www.balenciaga.com
12 Styles for seasonal collection Sandals/ Boots/ Pumps/ Flats Black/ White/ Dark Green/ Blue/ Brown £230 - £1200 U.K. Ladies 3-8 Leather/ Suede/ Studs/ Goatskin 0mm - 115mm
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London
Flagship Stores
Paris
Los Angeles 26
5 Mount Street London U.K. W1K 3NE
Nicolas Kirkwood brand is very structural, architectural and sculptural. He uses exotic materials such as hand printing leather, python, laser cutting material and ray leather. This uses of material was more than enough to attract people’s attention and demand. The collaboration with other brands so far helped him to build brand exposure to the fashion market.
442072901404
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Product Range
Fall / Winter 2012 Collections 28
Website www.nicholaskirkwood.com
Range: 40 Styles in seasonal collection Flats/ Highheels/ Boots/ Ankle Boots Color Range: Creme/ Blue/ Lilac/ Black/ Turquoise Price Range: £550 - £1400 Size Range: U.K. Ladies 3-8 Materials: Leather/ Fur/ Sequin/ Velvet/ Exotic Heel Sizing: Skins 10mm - 130mm
Flagship Stores
London
New York
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Universal House 251 Tottenham Court Road London, U.K. W1T 7AB
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FINSK: Julia Lundsten is born in Finland and the brand name is inspired from her motherland. Her unique structural beauty is well express on her design. She had provided unique and strong visional direction to fashion market as one of the leading fashion makers. Her design is modern and avant-garde however focuses on wearable and detailing shoe elements. She researches extensively into the uniqueness of each combination of leathers in order to express “modernity in nature�.
Collections on website
Product Range Range: 14 Styles for seasonal collection Pumps/ Wedge Heels/ Boots Color Range: Black/ Nude/ Ethical colours/ Taupe/ Red/ Turquoise Price Range: £200 - £540 Size Range: U.K. Ladies 3 - 8 Materials: Pony/ Cracked Metalic Leather/ Wood/ Suede Heel Sizing: 80mm - 150mm
Website www.finsk.com
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4.2 Price based Competitors
103 Grand Street New York, NewYork 10013 United States 2129779683
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Alexander Wang launched his brand in 2007, New York and selling his fashion items on over 150 boutiques. His young and trendy styling is recognized worldwide. His young brand is undergoing creative innovation because the brand is not tied onto history. In 2008, he launched cheaper diffusion line of T by Alexander Wang. His colour selection and sense, based on monotone are adding more brand value. November, 2012 He is the new head of Balenciaga.
Spring and Summer 2013 Collections
Product Range
Website www.alexanderwang.com
Range: 24 styles for seaonal collection Mid&High Heels/Boots/ Sandals/ Oxford Style/ Booties Color Range: Black/ Grey/ White/ Nude (Red,Yellow as point colors depend on the trend) Price Range: £400 - £800 Size Range: U.K. Ladies 3 - 7 Materials: Calf Leather/ Fox Fur/ Suede/ Lambskim/ Cow hide Heel Sizing: 30mm - 110mm Alexander Wang’s Object Collection
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Flagship Stores
Alexander Wang Store in New York
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Flat 5 81Curtain Road London, U.K. EC2A 3QT 442076299374
Acne is the brand based on Stockholm and has ethos of “Ambition to Crate Novel Expression”. The brand is recognized from the collaboration with LANVIN’s creative director of Alber Elbaz in 2009. It provides high quality products to young age group of customer. The brand’s overall design is said to be casual yet elegant. The brand is not only marketing fashion products but also expanding to advertisement in digital film production and paper magazine.
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Website www.acnestudio.com
Product Range
Fall and Winter 2012 Collection
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Range: 13 Styles for one collection Flats/ High heels/ Sandals/ Booties/ Boots Color Range: Black/ White/ Brown/ Grey/ Wine/ Blue Price Range: £350 - £950 Size Range: U.K. Ladies 3 - 8 Materials: Calf Leather/ Suede/ Wood/ Fur Heel Sizing: 17.5mm - 130mm
AcnePaper magazine are sold online and stores
Flagship Store
London
Paris
New York
Copenhagen 37
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5.1 Identifying the Market YOON HEE CHOI conducts market positioning to identify potential market gap, unexploited segment and current market position. Competitors are allocated on the market map with two schedules, which represents price range on vertical line and style elements: experimental and minimalism on horizontal line. After the identification of competitors on the market map, YOON HEE CHOI locates its own position regarding the brand’s characteristic in the women’s footwear market. 39
5.2 PEST Analysis PEST analysis is conducted in order to describe YOON HEE CHOI’s framework. The macro environmental factors on political, economical, social and technological issues are researched in order to see their overall impact on starting up YOON HEE CHOI in the U.K market.
Political The UK government will cut the corporation tax to 23% by 2014. Corporation tax was reduced 2% rather than 1% as previously planned, and the rate will be reduced by 1% in three consecutive years to reach the goal of 23% in 2014 (HM TREASURY, 2011). This reduction in corporation tax will leave many businesses with more positive capital within their finance account. The saved finance can be allocated for other marketing or branding purpose, which can add further value to the brand. For example, the higher positive cash inflow due to the tax reduction can be reinvested into the companies. In addition, the saved money can be awarded to share holders in order to increase the company value and to encourage more investment. The chancellor, George Osborn said that he was looking to boost enterprise and exports, as part of a Budget “for making things” in 2011. The overall government fiscal and monetary policies are assisting the investment and production of UK’s local businesses (BBC business, 2011). The overall impact of such government policies is the boost of UK’s local consumption as well as the local production. The positive benefit will be the increase in revenue for all general business including YOOH HEE CHOI.
Economical The chancellor, George Osborne, said that the latest GDP statistics show the government’s economic strategy is been proved to work therefore the UK economy is back on the right track from double-dip recession. The all of the income from the sale of Olympic ticket was counted as the UK’s out put figures, leading to the growth in GDP rate by 0.2%(Guardian, 2012). Most of economists expect that the UK economy will achieve positive GDP growth rate in 2012 and 2013, at 0.5% and 0.7%. The private consumption is also expected to grow in 2012 and 2013 by 0.3% and 1.0%(Guardian 2012). These figures indicate that the overall consumption on consumer product will be increasing continuously at steady rate. The luxury goods such as fashion items will be affected in higher proportion than the overall growth in consumption because they tend to be more income elastic than necessary goods. The fashion market, therefore, is expected to grow as the real income of consumers is growing.
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Social The Office for National Statistics (ONS) forecasts the UK population to grow to 70 million by 2027. A growing birth rate overwhelmed a death rate by 0.33% per year because of the recent baby boom in UK (BBC, 2011). In addition, there has been an increase in net migration from both EU and non-EU countries. The expected offspring of immigrants results the steep extrapolation of UK population growth curve in the graph. This overall increase in UK population in the future will lead to UK’s GDP growth as well as the potential future customers for most of local businesses. However, the negative impact of population growth is associated at the same time. If the economy fails to accommodate its growing population due to lack of production capacity, there will be upward pressure on consumer, asset and infrastructure prices. The fashion market can benefit from population growth as the quantitative figure of potential customers is expected to grow in the future. However, the cost-push inflationary pressure can arise because the expected upward price pressure may increase materials, local labour and supply chain costs in the fashion market.
Technology “Rapid improvements in computer technology have helped to shorten the new product development process from years to practically months, especially in the fashion/style/highperformance areas. Apparel marketers who are linked with retailers through quick-response programs and other technology go a long way toward making themselves indispensable to their customers� (Wagle, 2003). The development of EDI, or Electronic Data Interchange, has improved communication, production, designing and supplying efficiency in fashion market. EDI links all stakeholders such as suppliers, manufacturers, designers and customers with computer terminals such as Internet and Intranet. Through out the utilization of such technology, the business can achieve close communication between retailers and manufacturers minimising the occurrence of communicating distortion. In addition, manufacturing technology has improved efficiency and has reduced the use of direct labour in manufacturing process. EDI collects quantitative data such as the bar code that counts number of item sold, the price attached to the product purchased and product details such as size and colour. The collected data is then used for manufacturing, designing and marketing purpose.
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6.1 Visual Retail Idea Exclusive display room
General line display
Fitting lounge
stock room Display sketch for department store
image sketch of the store The main feature of the shop will be the divided section between the general line and the exclusive line display which weill be located in the seperated area in the shop.
Doormain for Website
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6.2 SWOT Analysis Strengths Shoes are wearable for longer period of time because the brand is providing quality monitoring and after customer services. The brand features handcraftsmanship for the collection therefore, it gives specialty and uniqueness. Online store is available therefore it gives wide distribution channel worldwide. Relatively cheaper supplies from Asia based suppliers therefore it reduces overall production cost, which can be passed down onto potential customers as a form of reasonable price. The brand concerns sustainability especially for packages. This can help the brand to set up ethical image. In addition, this increases the chance of customer’s future purchase. The brand is planning Research and Development, which focuses on innovative and comfortable high heel design. Designer is fluent in English, Korean and Japanese, which is advantageous when considering launching in English speaking countries and fast growing Asian market.
Opportunities The UK government planed to boost economy in order to increase local production and export. The related government’s fiscal and monetary polities such as reduction of cooperation tax can be financially advantageous to YOOH HEE CHOI. The recent development of IT industries such as social networking services can be seen as a medium and opportunity of YOOH HEE CHOI’s brand marketing. The substantial brand awareness can be built through these mediums with relatively cheaper cost. The brand’s potential to expand its products range into men’s footwear and accessories. The brand is located in London, one of the most well known fashions Mecca. This place advantages maximize exposure of the brand during London Fashion Week and other fashion events.
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Weaknesses The brand is newly set up company therefore, potential customers may not aware of full value of the brand. The initial investment is expected to be covered up within couple of years therefore, the brand may experience financial difficult until the initial investment is repaid. Suppliers are based on Asia therefore, the cost associated with shipping and import taxes can arise. The designer is lacking real shoe industry experience and credibility therefore substantial fund raising can be difficult. The global distribution through online shop can add up the cost because the exchange rate fluctuation among different countries is difficult to forecast. Lack of finance to have a set of complete organizational structure therefore top designer is under the pressure of over workload starting from the management and creative design.
Threats Mass marketers and fast fashion retailers are imitating design inspiration of the brand and reproducing similar fashion items on low quality and low price. Uncertainty associated within the industry can influence YOOH HEE CHOI in great extent. For example, latest global economic recession had caused the reduction in the sale figure of world fashion market. The material cost are keep increasing because the major suppliers based on Asia are experiencing upward pressure on labour cost.
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6.3 Price Architecture YOONHEE CHOI accurately reflects its value on quality. The price level is divided into three groups as shown in in the pyramid diagram. Low level: Summer flat sandals or flat shoes are price marked in low level. This can be advantageous for releasing shoes to younger customers however it is depending on the style and the use of materials, possibly authentic leather. General level: All of the pieces from seasonal collection Ultra level: This ultra level consists of limited editions. These shoes are made out of the best quality materials and technical skills.
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6.4 Range Overview Above Chart provides overall range of YOONHEE CHOI’s very first seasonal collection for Spring/Summer 2014. The range is specified into three main groups of heel height of ‘Low’ (below 30mm), ‘Mid’ (30mm-80mm) and ‘High’ (above 80mm) with six different main styles of footwear. YOONHEE CHOI contains part of the range in the low level according to the price architecture with most of the low heel height flats and sandals and some mid high pumps. Rest of the range is spotting in the general level. The Ultra level is for the exclusive collection that carefully selected four pairs of design will be presented through recent techniques and extraordinary craftsmanship. YOONHEE CHOI will be starting at 10 pairs for S/S2014 (including two pairs from exclusive line) and extending its range in a future.
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7.1 Price strategy based on expected product life cycle YOON HEE CHOI expects product life cycle of S/S and F/W collection for its general portfolio and exclusive portfolio. The life cycle of each seasonal collection is expected to be maximum 6 months for its general collection and 3 months for its exclusive line.
7.1a Price strategy for general line The sale figure is expected to be low because the brand is a newly starting company. Despite the low sale figure during introduction period starting on April, YOON HEE CHOI will apply the prestige pricing strategy in order to set the exclusive brand image. This image pricing will be continues until the sale figure reaches the maturity and saturation period. YOON HEE CHOI will maximize the utilization of available resources and marketing medium to lengthen the maturity and saturation stages for revenue maximization. Then, the sale will gradually fall during decline stage. The sale figure is expected to fall on end of August for S/S and end of March for F/W seasonal collections. During the decline stage, YOON HEE CHOI will sell left over stocks with some discount from the original prestige pricing. However the discount is set up to 30% depend on footwear. Further discount is not planned because the brand needs to maintain its exclusive image.
7.1b Price strategy for exclusive line The expected sale figure is expected to be low during introduction stage on June for S/S and December for F/W, however each S/S and F/W exclusive line will experience rapid growth stage through out July and August and January and February. YOON HEE CHOI will apply prestige pricing for this line however the price will be much higher than its general line. This line will be only available for two to three months from the introduction to the market therefore YOON HEE CHOI will not take into action to lengthen maturity and saturation stages. The line will be withdrawn from the market when the available stocks are sold out.
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7.2 Inventory control YOON HEE CHOI uses different inventory control system for general and exclusive lines. Big difference of two line will be the buffer stock held or not. Buffer stock will be available for general line because YOON HEE CHOI is applying normal inventory system to it. However, YOON HHE CHOI will apply Just In Time inventory control system for exclusive line not holding any buffer stock.
7.2a Inventory control for general line YOON HEE CHOI will set a reorder point to maintain its buffer stock from production factories in China. YOON HE CHOI set the delivery time to be maximum 15 days. If the delivery is delayed for any reason, buffer sock can cover the demand of customer. In addition, the buffer stock will allow YOOH HEE CHOI to react quickly in any demand fluctuation for its collection. YOON HEE CHOI makes assumption that the maximum stock capacity will be reduced and reached at the point of buffer stock with in a month time.
7.2b Inventory control for exclusive line YOON HEE CHOI will be advantageous from not holding any left over stock for this line. Relatively expensive left over inventories such as work in process, materials and completed footwear will be sold with substantial discount after a withdrawal from the market. In this reason, YOON HEE CHOI uses Just In Time inventory control system (JIT) to cut the inventory holding cost for this line. Exclusive line will only produced and delivered to YOON HEE CHOI’s selling department from China based factory once they are needed therefore no buffer stocks are held within the brand. YOON HEE CHOI uses quick delivery transportation medium such as airline cargo service, otherwise delay of completed exclusive collection will cause substantial order delay cost. In addition, such delivery delay will affect the overall brand images, as customers will not expect any delay of footwear from exclusive brand like YOON HEE CHOI. The brand assumes that the maximum delivery time from China factories to be three days.
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Material Board
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Material Board
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7.3 Suppliers Lasts Dain
Leathers
A&A Crack Walter Reginald Group 20th Century Leather
Beads
BEJAM Park Stone JM Jumisa
+824657685
SeongSu 2ga, Korea
www.aacrack.co.uk www.walterreginald.com 02072490099
Northampton, U.K. London, U.K. London, U.K.
+824694688 +824660505 +8222654244
SeongSu 2ga, Korea SeongSu 2ga, Korea Dongdaemun, Korea
01603760613 07738546738
London, U.K. London, U.K.
+824637139 www.wyvernbinder.com
SeongSu 2ga, Korea London, U.K.
Heels
Bob Col Rob fa Wcedd
Hardware and etc. J.J Ltd. Wyvern Bindery
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7.4 YOONHEE CHOI Supply chain YOON HEE CHOI’s supply chain starting from the market research to retail sale takes a year. YOON HEE CHOI is responsible for most of the supply chain however the production process is heavily dependent on the YOON HEE CHOI’s manufacturing factories in China. The delivery from Chinese factories must be completed within the expected time range otherwise YOON HEE CHOI may pay the penalty for late shipping to customers. One special feature of YOON HEE CHOI’s supply chain is the feedback part. The consumer’s reaction to the new collection will be considered for the nest season’s collection development. The both of general and exclusive lines will have same supply chain format. However, the design development for exclusive lines will be conducted three months faster than general line in order to improve overall quality and uniqueness.
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Supply Chain Diagram
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8.1 Future aspects of YOONHEE CHOI YOONHEE CHOI puts itself not only as short-term enterprise but also long-term venture in a volatile fashion market. With the experience from the fist collection, YOONHEE CHOI’s value addition can be continued to other market segments of designer accessory lines. This brand extension is derived from YOONHEE CHOI’s fundamental wishes of providing luxurious fashion items with YOONHEE CHOI’s own fashion identity in a global market. The next step to evolve as a world leading fashion brand will be creating full customer awareness of YOONHEE CHOI’s true value.
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Appendix
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ACNE. 2012. History. [ONLINE] Available at: http://shop.acnestudios.com/about/history.
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