MENSWEAR
Ashley Fitzgerald
MENSWEAR
Table of Contents
Executive Summary 1 Mission Statement 1 Vision Statement 1 Social Responsibility: ZERO 2 Customer Profile 3 Customer Narrative 4 Customer Inspiration Board 5 Brand Extension Rationale 6 Inspiration 7 Group Overview 8‐10 Classification Plan 11 Assortment 12 Cost Sheets 13‐23 Line Sheets 24‐16 Color and Print Options 17 Brand Identity 18 Retail Partner 19 Production Calendar 20 Purchase Order Sheet 21 Purchase Invoice 22 Seasonal Sales Projection Master Page 23 Sale Projection 24 Marketing Plan 25‐28 Biography 29 Press Release 30 Bibliography 31
MENSWEAR
Executive Summary
After looking into the market of what is available for male consumers, Tory Burch was selected to expand the brand into Men’s ready‐to‐wear. The purpose is to provide luxury classic clothing at a low price for men. The project consists of every aspect of product development including information about the brand, cost sheets, classifications, sales projections, line sheets, purchase orders and a marketing plan. ___________________________________________________________________________
Mission Statement
Tory Burch is a luxury lifestyle brand defined by classic American sportswear with an eclectic sensibility and attainable price point. It embodies the personal classic style and spirit of its CEO and designer, Tory Burch. The brand was produced to create stylish yet wearable clothing and accessories for women and men of all ages. ___________________________________________________________________________
Vision Statement Not only will Tory Burch maintain and continuously expand our women’s ready‐to‐ wear, but we plan on broadening our brand to men’s ready‐to‐wear and accessories. We also expect to expand from 77 freestanding stores to 120 stores worldwide by Spring 2015.
MENSWEAR
Social Responsibility Along with the Tory Burch Foundation, which supports the empowerment of girls and women, we also support ZERO. The Project to End Prostate Cancer takes a hard stance on prostate cancer. The idea: ZERO means zero prostate cancer deaths, zero prostate cancer cases and for those with the disease, a zero PSA. All funds for the foundation go to prostate cancer research as well as their Drive Against Prostate Cancer campaign, which is the only national mobile screening program for prostate cancer.
MENSWEAR
Customer Profile Geographic Region Varies City Size 100,001 + Population Density Urban Climate Temperate Demographic Segmentation Age 25‐35 Gender Male Income Over $50,001 Occupation Professional Education Varies Sociocultural Culture Varies Subculture Varies Social Class Middle ‐Upper Class Marital Status Varies Psychographics Achievers Affective and Cognitive Degree of Knowledge Expert Benefits Sought Prestige Attitude Positive Behavioral Brand Loyalty Divided Loyalty Store Loyalty Divided Loyalty Usage Rate Heavy User Status Potential User Payment Method Varies Media Usage Internet & Newspapers & TV Usage Situation Work & Leisure
MENSWEAR
Customer Narrative
The vibration of Nathanial’s iPhone alarm woke him up in his Lincoln Park apartment. After he slowly pulled off his navy and white striped comforter in his Cape Cod inspired bedroom, he walked in his bathroom and got ready for the day. After showering, shaving, and brushing his teeth, he put on his tailored suit and tie typically worn at a day at the office. He walked out of his apartment building down to the nearest Starbucks. He ordered a dark roast coffee black and a croissant. Nathanial grabbed a cab to take to a business meeting. He graduated from University of Illinois at Champaign for Business seven years ago and has been working with Morgan Stanley in Chicago as a Financial Advisory since. Respected in the workplace, he has recently been asked to be promoted to head of his department. After a meeting with new clients, he moves into his new office with windows overlooking the Chicago skyline. His office has a solid, large dark wooden desk with brown leather chairs and a brown leather couch. He asks his secretary to order him a Caesar Salad with Chicken from The Corner Bakery for lunch. Throughout the day, he works on some of his client’s files while taking short breaks to socialize with co‐workers. After a working until 3pm, he left early. He took a cab back to his apartment where he changed into khaki golf pants and a polo. He and his fiancé walked to the nearby Diversey Driving Range to hit a couple buckets of golf balls before dinner. Golf has always been Nathanial’s favorite leisure activity along with traveling and reading. He spent one of his summers while in college traveling Europe with friends and typically vacations once a year with his fiance. After golfing, they met with a group of co‐workers at Tavern on Rush. Nathanial ordered a steak and a scotch on the rocks. A couple hours and few drinks later, Nathanial and his girlfriend go back to their apartment. After getting into bed, they put on the movie “Casablanca” until they fall asleep.
MENSWEAR
Nathanial
MENSWEAR
Brand Extension Rationale In a world of Tory Burch ladies, what about the Tory Burch men? Tory Burch plans on targeting this missing market and expanding to Men’s Ready‐ to‐Wear. Tory Burch Menswear will reach out to the classic, yet modern man who is looking for something a bit extra in their wardrobe. Tory Burch Menswear will offer eclectic and distinctive prints, colors and silhouettes to the men who will wear and revere the brand. Tory Burch is a very reputable and distinguished brand that is sought by fashion innovators and followers alike. The Menswear brand extension will give both type of man the opportunity to wear and love Tory Burch.
MENSWEAR
Spring 2013 Inspiration
MENSWEAR
Group Overview Images
Miles Blazer Style #: 1A314
Jeffrey V‐Neck Style #: 1A161
Timothy Long Sleeve Button Down
Michael Long Sleeve Henley Style #: 1A151
Style #: 1A115
Edward Short Sleeve Button Down Style #: 1A175
Kyle Short Sleeve Henley Style #: 1A131
William Polo Style #: 1A123
Andrew Chinos Style #: 1A222
Casey Shawl Cardigan Style #: 1A166
Tyler Classic Short Style #: 1A212
MENSWEAR
Assortment/Classification Plan
1 Year 1 2014 2 Season A Spring 3 Class 1 Tops 2 Bottoms 3 Outerwear 4 Sub Class 1 Tops 1 Button Down (LS) 2 Polo 3 Henley 5 V‐Neck 6 Cardigan 7 Button Down (SS) 2 Bottoms 1 Shorts 2 Chinos 3 Pleated Short 3 Outerwear 1 Blazer 5 Fabrication 1 Cotton 2 Twill 3 Pique 4 Linen 5 Lightweight Shirting 6 Knit 5 Color 1 Multi 2 White 3 Tan 4 Red 5 Navy 6 Cobalt 7 Gray 8 Light Blue
MENSWEAR
Assortment Master Page Miles Blazer: 1A314 ‐3, ‐4, ‐5 Jeffrey V‐Neck: 1A161 ‐4, ‐5, ‐7, ‐8 Michael Long Sleeve Henley: 1A151 ‐1, ‐3, ‐7, ‐8 Thomas Long Sleeve Button Down: 1A115 ‐1, ‐3, ‐5, ‐6, Kyle Short Sleeve Henley: 1A131 ‐4, ‐5, ‐6, ‐7 Edward Short Sleeve Button Down: 1A175 ‐1, ‐2, ‐3, ‐8 William Polo: 1A123 ‐3, ‐5, ‐6, ‐8 Casey Shawl Cardigan: 1A166 ‐3, ‐5, ‐6 Andrew Chinos: 1A222 ‐3, ‐4, ‐5, ‐8 Tyler Classic Short: 1A212 ‐3, ‐4, ‐5, ‐8
MENSWEAR
Spring 2014 Line Sheets Delivery: February 2014‐March 2014 Contact: sales@toryburchmens.com
Outerwear COLORS: White, Tan, Red, Navy, Cobalt, Gray Light Blue PRINTS: Red and White Horizontal Stripe, Blue and Cream circles, Blue and white lines
Miles Blazer Style #: 1A314 ‐3, ‐4, ‐5 Wholesale: $275 Sug. Retail: $550
Mixed Tops
Michael Long Sleeve Henley Timothy Long Sleeve Button Down Style #: 1A151 ‐1 ‐3, ‐7 , ‐8 Style #: 1A115 ‐1, ‐3, ‐5, ‐6 Wholesale: $43 Wholesale: $52 Sug. Retail: $95 Sug. Retail: $115
Jeffrey V‐Neck Style #: 1A161 ‐4, ‐5, ‐7, ‐8 Wholesale: $35 Sug.Retail: $78
Kyle Short Sleeve Henley Edward Short Sleeve Button Down Style#: 1A131 ‐4, ‐5, ‐6, ‐7 Style #: 1A175 ‐1, ‐2, ‐3, ‐8 Wholesale:$39 Wholesale: $44 Sug. Retail: $85 Sug. Retail: $98
William Polo Casey Shawl Cardigan Style #: 1A123 ‐3, ‐5, ‐6, ‐8 Style #: 1A166 ‐3, ‐5, ‐6 Wholesale: $45 Wholesale: $121 Sug. Retail: $90 Sug. Retail: $250
Mixed Bottoms
Andrew Chinos Tyler Classic Short Style #: 1A222 ‐3, ‐4, ‐5, ‐8 Style #: 1A212 ‐3, ‐4, ‐5, ‐8 Wholesale: $82 Wholesale: $70.00 Sug. Retail: $190 Sug. Retail: $140
MENSWEAR
Spring 2014 Color and Print Options
MENSWEAR
Adjectives
Classic. Eclectic. Bold. ___________________________________________________________________________
Distinct Characteristics Being a highly recognizable brand, the logo is a characteristic that no other brand has to offer. Tory Burch Menswear’s distinct characteristics also include the eclectic prints and bold colors of the fabric used. The garments are also versatile; each piece can be paired together or set apart for a day to night look. Quality is also a key element to the collection; every piece is made to last and with the best fabrics. ___________________________________________________________________________
Selling Point The status and reputability of the brand is the selling point of Tory Burch Menswear. Most people know what Tory Burch is and what it means to the fashion world. This collection is for the classic and modern man who wants to look the part without paying the high price. Tory Burch Menswear is set apart from the rest because of it’s classic silhouettes, bold colors, and eclectic prints. These attributes make this collection stand out and give every man the chance to express himself.
MENSWEAR
Retail Partner Tory Burch Menswear will partner with Nordstrom. Nordstrom is an upscale fashion retailer with inventory including clothing, accessories, handbags, jewelry, shoes, cosmetics and fragrances. There are 231 locations in the United States, which includes 117 full line stores and 110 Nordstrom Racks. Tory Burch Menswear will begin in three locations and eventually expand to stores nationwide by 2015. 6 Locations: Chicago, Illinois New York City, New York Los Angeles, California Boston, Massachusetts Miami, Florida Dallas, Texas
MENSWEAR
Spring 2014 Production Calendar March 2013: Research Market April 2013: Begin to design & sketch May 2013: Swatch & begin to make samples September 2013: Attend Trade Shows & show to buyers October 2013: Early production, retail orders placed November 2013: Major Production Begins December 2013: Major Production Continued January 2014: Major Production & In‐Store Promotions February 2014: Shipping Begins & In‐Store Promotions March 2014: Shipping Period & In‐Store Promotions, begin planning for next season April 2014: Shipping Continues May 2014: Clearance out & replenishment, track retail selling
MENSWEAR
Spring 2014 Nordstrom Purchase Order
MENSWEAR
Spring 2014 Nordstrom Invoice
MENSWEAR
Sales Projection
MENSWEAR
Sales Projection Master Page
Introduction: 3 Weeks 20% Beginning on Hand: 204 Sales: 39 Ending on Hand: 165 ___________________________________________________________________________ Maintenance: 4 Weeks 30% Beginning on Hand: 165 Sales: 59 Ending on Hand: 111 ___________________________________________________________________________ Clearance 20% off : 2 Weeks 20% *only 65/111 went on sale Beginning on Hand: 65 Sales: 26 Ending on Hand: 39 ___________________________________________________________________________ Clearance 30% off: 2 Weeks 30% *only 65/111 went on sale Beginning on Hand: 39 Sales: 39 Ending on Hand: 0
MENSWEAR
Floor Plan
Direction of Traffic
4‐Way
Cash Wrap
Long Rack
Escalator
Table
Rounder
Mannequins
MENSWEAR
Marketing Budget: $11,010
Intro: 20% $2,202
Objective: To inform customers of Tory Burch Menswear brand extension. Strategy: To penetrate the men’s casual ready‐to‐wear market with the Tory Burch aesthetic. Tactic: • Social Media: Tory Burch prides themselves on the use of Social Media for marketing. We will use Social Media on a daily basis to promote Tory Burch Menswear. Twitter and Facebook will be used to inform our customers of updates of the brand. Instagram and Pinterest will be used to post pictures of Fashion Shows, Product Development, events. and any other interesting aspects of the brand. We will also use Youtube to promote interviews with Tory Burch about the brand, Fashion Shows as well as behind‐the‐scenes shots of events as well as product development. We will also promote on the Tory Burch blog.
•
Launch Event: We will host a Private Launch Event at the Flagship store in New York City. The event will be held in February at the beginning of the ship dates in the evening. We will invite buyers from numerous Specialty and Department stores. We also plan on inviting celebrities who we feel will fit the brand such as Leonardo Decaprio, Zac Efron, Taylor Lautner, and Shia Labeouf as well as female celebrities. Media such as the Style Network, E!, and fashion bloggers will be invited to cover the event. Hor de’voures and drinks will be served. Since this is an American men’s brand extension, we hope to bring out that masculinity by serving whiskey, scotch, and American craft beer. The Hor de’voures will be mini burgers and mini French fries. The event itself will be held in the middle of the men’s section in the store. Clothing will be available for purchase throughout the evening.
•
App/Email QR Codes: Tory Burch Menswear will launch a App for smart phones which will contain photos of the new line, information on where to purchase, links to social media, videos, as well as information about promos and events. On the Tory Burch Menswear website, there will also be a location to get added to the email newsletter. Information about what is new and happening with the brand will be sent out weekly to those who sign‐up. Sales Associates will also ask those who make a purchase to sign up for the email list as well.
Control Method: Launch Party: Guests who bring in their invitation receive 15% off of their entire purchase at the launch party. Email & App: QR Codes‐ During this the Intro Stage, if you shake the App a QR code for 15% off a one‐time purchase of $150 or more will appear. There will also be an email sent out with the same QR code to receive the promotion.
MENSWEAR
Maintenance: 60% $6,606
Objective: To arouse interest of Tory Burch Menswear as well as gain new customers. Strategy: To begin to create customer loyalty amongst Tory Burch Menswear customers and continue to rise in the Men’s casual market as a leader. Tactic: • Social Media: Tory Burch prides themselves on the use of Social Media for marketing. We will use Social Media on a daily basis to promote Tory Burch Menswear. Twitter and Facebook will be used to inform our customers of updates of the brand. Instagram and Pinterest will be used to post pictures of Fashion Shows, Product Development, events. and any other interesting aspects of the brand. We will also use Youtube to promote interviews with Tory Burch about the brand, Fashion Shows as well as behind‐the‐scenes shots of events as well as product development. We will also promote on the Tory Burch blog. • Gift with Purchase: Everyone loves free stuff. Because of this, we will be giving away a gift with purchase. The gift will be a Tory Burch basic t‐ shirt. The t‐shirt will have a small graphic printed Tory Burch symbol on the upper‐chest. The customer must purchase $150 worth of merchandise to receive the shirt. • Advertisement: We will use out corporate budget for this aspect of marketing. We will put an ad in March Men’s Vogue. Because of the all‐ American aspect of Tory Burch, the photo shoot will take place in Martha’s Vineyard. Control Method: Social Media: “Secret Passwords” will be posted on Twitter and Facebook for an hour at spontaneous times. If these passwords are mentioned in‐ store that day, the customer receives 10% off their entire purchase. Gift with purchase: Customer receives free t‐shirt with $150 purchase.
MENSWEAR
Clearance: 20% $2,202
Objective: To ensure all customers received the opportunity to purchase Tory Burch Menswear. Strategy: To reduce Spring 2014 Tory Burch Menswear inventory to make room for the next season. Tactic: • Social Media: Tory Burch prides themselves on the use of Social Media for marketing. We will use Social Media on a daily basis to promote Tory Burch Menswear. Twitter and Facebook will be used to inform our customers of updates of the brand. Instagram and Pinterest will be used to post pictures of Fashion Shows, Product Development, events. and any other interesting aspects of the brand. We will also use Youtube to promote interviews with Tory Burch about the brand, Fashion Shows as well as behind‐the‐scenes shots of events as well as product development. We will also promote on the Tory Burch blog. • Jack Threads: Jack threads is a members‐only shopping website with limited‐time sale events on the world’s best men’s brands. We will post the clearance items on this website for 40% off of retail price. Thousands of customers are connected to this website and will give online shoppers the opportunity to purchase from the brand as well. • Pricing: In stores, clearance apparel will be set at 20% off the first two weeks. The final two weeks prices will be 30% off. Control Method: Social Media: “Secret Passwords” will be posted on Twitter and Facebook for an hour at spontaneous times. If these passwords are mentioned in‐ store that day, the customer receives an additional 15% off clearance prices. Jack Threads and Pricing: Low prices on luxury, Tory Burch Menswear.
MENSWEAR
Press Kit
MENSWEAR
Biography Tory Burch is an American sportswear brand with a classic yet modern sensibility distinguished by a global and eclectic aesthetic. It embodies the personal style and spirit of its CEO and designer Tory Burch. Tory Burch was launched in February 2004 as a lifestyle concept with multiple product categories, including ready‐to‐wear, handbags, shoes and jewelry. Tory designed her first boutique in New York to feel more like a room in her own home than a traditional retail store. Key design elements featured in all boutiques include orange lacquer doors, mirrored walls and Lucite fixtures. She is inspired by her love of art, music, culture and travel, which is reflected in the collection. Graphic prints, bold colors and unique details are all signatures of the brand. Tory Burch has received several awards from the fashion industry, including the 2008 CFDA for Accessory Designer of the Year; 2007 Accessory Brand Launch of the Year from Accessories Council of Excellence; and 2005 Rising Star award from Fashion Group International. Tory was named one of Forbes’ Most Powerful Women in the World in 2010 and 2013. Jessica Alba, Reese Witherspoon, Oprah Winfrey, Jennifer Lopez and Hilary Swank all wear the Tory Burch collection.
MENSWEAR
News Release Contact: Tory Burch Menswear PR pr@toryburchmenswear.com For Immediate Release Sunday, March 1th 2014
Introduction of Tory Burch Ready‐to‐Wear Men’s Collection huge success Tory Burch is pleased to present Tory Burch Menswear at her launch party at the Flagship store located in New York City. The first ready‐to‐wear Men’s collection by Tory Burch will be visible for the first time at the event. The Spring 2014 collection reveals Burch’s notorious bold colors and eclectic prints mixed with classic silhouettes. The fashion celebration will take place at the Flagship store in New York, 797 Madison Avenue on Saturday, March 2 at 7pm. High profile names such as Leonardo DeCaprio, Zac Efron, Taylor Lautner, and Shia Labeouf will be attending the event. A small fashion show will take place at the beginning of the evening followed by Hor de’voures and drinks. Guests who return their invitation receive 15% off their purchase that evening. The collection has a little bit of everything that a man’s wardrobe needs‐ including a tailored blazer, chinos, button down shirts‐ but all with that Tory Burch feel. The pieces can easily go from day to evening, business to leisure. The designs themselves have a very nautical feel with striped prints, blue, red and white color schemes, and light fabrics.
“We are extremely excited to surface this new addition to the Tory Burch name. I have been wanting to launch a men’s line for quite sometime and have been extremely happy with the results.” Stated Tory Burch, owner and CEO of Tory Burch. “We knew there was there were Tory Burch men out there and we are just happy we can finally give them the clothes they’re looking for!”
MENSWEAR
Spring 2014 Product Line Information Delivery: February 2014‐March 2014 Contact: sales@toryburchmens.com
Outerwear COLORS: White, Tan, Red, Navy, Cobalt, Gray Light Blue PRINTS: Red and White Horizontal Stripe, Blue and Cream circles, Blue and white lines
Miles Blazer Style #: 1A314 ‐3, ‐4, ‐5 Wholesale: $275 Sug. Retail: $550
Mixed Tops
Michael Long Sleeve Henley Timothy Long Sleeve Button Down Style #: 1A151 ‐1 ‐3, ‐7 , ‐8 Style #: 1A115 ‐1, ‐3, ‐5, ‐6 Wholesale: $43 Wholesale: $52 Sug. Retail: $95 Sug. Retail: $115
Jeffrey V‐Neck Style #: 1A161 ‐4, ‐5, ‐7, ‐8 Wholesale: $35 Sug.Retail: $78
Kyle Short Sleeve Henley Edward Short Sleeve Button Down Style#: 1A131 ‐4, ‐5, ‐6, ‐7 Style #: 1A175 ‐1, ‐2, ‐3, ‐8 Wholesale:$39 Wholesale: $44 Sug. Retail: $85 Sug. Retail: $98
William Polo Casey Shawl Cardigan Style #: 1A123 ‐3, ‐5, ‐6, ‐8 Style #: 1A166 ‐3, ‐5, ‐6 Wholesale: $45 Wholesale: $121 Sug. Retail: $90 Sug. Retail: $250
Mixed Bottoms
Andrew Chinos Tyler Classic Short Style #: 1A222 ‐3, ‐4, ‐5, ‐8 Style #: 1A212 ‐3, ‐4, ‐5, ‐8 Wholesale: $82 Wholesale: $70.00 Sug. Retail: $190 Sug. Retail: $140
Bibliography www.toryburch.com www.nordstrom.com www.floorplanner.com www.style.com www.zerocancer.org www.polyvore.com www.moodfabrics.com