By any measure the fashion industry is large and complex with different business models competing to capture consumer loyalty and their business. Fundamental to the relationship between consumer and fashion business is the research, creation, sourcing and delivery of a profitable and balanced fashion product offer that accurately reflects current trends, culture & the profile of the target consumers.
CREATE YOUR OWN 12 option fashion range plan for All Saints available for delivery on 1st December 2016. This report will be about the range plan supported with research and analysis.
(You are creating a Spring/Summer Collection that will be available in store from Dec 1st 2016 to end of Jan 2017)
The Brand – All Saints
1. Create the fashion range plan for WOMEN only
2. Assuming the range plan is going to be in 5 of the UK All Saints stores (Not online stores), the currency used should be in Pounds.
3. The range plan will have an eight-week lifecycle.
4. Achieve an average % intake margin of 65%
-Intake margin % measures the difference between the cost price paid to the supplier and the retail selling price charged to the customer
5. You will need to reflect this within the range plan and ensure that the average intake margin % of all options combined equals a minimum of 65% , Higher than 65% is even better!
6. Identifies an open to buy budget (OTB) required to buy the range.
7. The range plan will be justified with a report explaining the research undertaken to create the range plan why it is appropriate for All Saints and its target customer.
8. Do not use actual existing products on websites. All products in your range plan should be created by you. Describe the products such as (E.g: Low-cut Tshirt, Long sleeve Shirt, biker Jeans, etc) but NOT as (E.g: Johnson Collection shirt, Victoria dress ,etc). Do not name the products in the range plan.
9. Actual existing products on websites however, can be used as references for pricing in your range plan.
The report by numbered sections
1500 word count – 10% tolerance
1. Introduction ? To introduce your chosen trend and its relevance to the brand (All Saints) (Suggested word count 100 words) ?
2. A review of 4P (Price, Product, Promotion and Place) analysis, SWOT analysis, customer pen portrait, comp shop (use template given in attached file) and other secondary or primary research to identify the key elements that your product range for this customer type should offer (Suggested word count 600 words) (What are you offering for your targeted customers of All Saints? Who are your targeted customers for All Saints?)
Do Comparative Shop on both All Saints and Competitor: REISS
The research for the colors and fabrics needs to be back up with WGSN.com, which provides information on trend forecasting. As you are creating a fashion range plan with your own made up products, you need to know the upcoming trend in order to launch this created collection.
3. A completed range plan document using the template provided in attached file with a summary of its key elements (Suggested word count 200 words): ?Key pieces,Fabrications used, Sourcing approach ?
4. A discursive review of an analysis of the completed range plan to highlight its relevance to the brand & customer (Suggested word count 600 words): ?1)The tops to bottoms ratio?2) Intake margin %, Fashionability, average unit buy, price architecture, colour analysis 3)Presented via text, tables, figures and charts as appropriate
Please also look at the example reports given in the attached files.
Required References to use in the Report:
? USE WGSN.com for color &fabric research
(WGSN predicts upcoming trends of fashion, colors and fabrics)
? Clark, J. (2014) Fashion Merchandising: Principles and Practice. Basingstoke: Palgrave ?
? Clodfelter, R. (2009) Retail Buying from Basics to Fashion. New York: Bloomsbury Publishing PLC Fairchild Books ?
? Goworek, H. (2007) Fashion Buying. Oxford: Blackwell ?
? Jackson, T., Shaw, D., (2001) Mastering Fashion Buying & ?Merchandising Management. Basingstoke: Palgrave ?
? Kim, E. Fiore, A. Kim, H. (2011) Fashion Trends: Analysis and ?Forecasting. London: Berg. ?
? Shaw, D. Koumbis, D., (2014) Fashion Buying: From Trend Forecasting to Shopfloor. Bloomsbury Publishing PLC: Fairchild Books ?
? Varley, R. (2006) Retail Product Management, Buying & Merchandising. 2nd edn. London: Routledge (eBook)