Analysis of market context Shortly after graduating with a master’s degree from the royal college of art, Scottish born designer Holly Fulton was chosen to design the Lanvin accessories collection. In 2009 she debuted her first collection under her own name at London Fashion week with the support of fashion east and in collaboration with Swarovski.
Holly Fulton S/S 13 (http://www.hollyfulton.com/collection/ss13) During her 6 LFW collections as well as collaborations, Fulton has created a recognisable aesthetic, heavily influenced by art deco, Bauhaus styling and pop art. Fulton has been hailed as a master of print and embellishment, Collections are often heavily scattered with complex graphic embellishment and handmade digital designs printed onto luxurious fabrics. “The Holly Fulton label epitomises modern relaxed luxury. Attention to detail, complex graphic embellishment and witty twists are what makes Holly’s work instantly recognisable. Hand rendered, digitally manipulated print coupled with unusual fabrications create strong unified looks, from top to toe. Since her debut collection in February 2009 Holly has developed her own unique visual language, drawing upon a dizzying array of sources, from art deco lines and Bauhaus shapes, to pop art painting and psychedelic illustration. Rich multilayered surfaces reflect a genuine love of both art history and popular culture. The research of a collection is of paramount importance to Holly, whose references have ranged from Joan Collins to Lady Chatterley, Margate to Mexico. Jewellery completes what Holly calls her ‘total look’, often cleverly worked into the clothing itself.” (http://www.hollyfulton.com/studio/profile) Holly Fulton’s LFW presence it established and respected by industry professionals. the S/S12 collection as described by Vogue journalist Jessica Bumpus: “…It was Fulton’s most wearable collection yet where, as Vogue editor Alex Shulman noted, in the past they have been “more like beautiful pieces of art”… - Jessica Bumpus, vogue.co.uk, September 2012
Holly Fulton S/S 11
Funding and sponsorship schemes The cost of producing a collection means it is important for emerging designers to seek funding and sponsorship in order to develop their business if they aim to produce an on-time successful collection or show. There are a number of industry based schemes and awards which offer funding and promotional help to new eligible new designers. Non-profitable initiative, Fashion East creates a platform each season for 3 menswear designers and 3 womenswear designers, elected by a panel of fashion industry experts, to present a catwalk collection to international press and buyers during London fashion week. Fashion east looks for designers which have created a strong signature to their work and have the ability to deliver an on-schedule, small collection that will appeal to press and buyers during the show. Sponsorship can be offered for a maximum of 3 seasons. Holly Fulton met the requirements of this award after her work with Lanvin and utilised the sponsorship of the fashion east initiative in order to produce her first 2 seasons. Apart from the support of fashion east , Fulton has received multiple awards and sponsorships during her years as an emerging designer. In 2009 Holly won Swarovski’s emerging talent award for new designer of the year. Recipients in the category receive generous financial support from the company as well as exposure to the company’s ‘crystallised’ Swarovski elements. Holly Fulton has maintained a long running relationship with the company, utilising her access to the use of Swarovski elements by incorporating them into several collections as well as designing a collection for A/W10 Atelier Swarovski which took inspiration from her own graphic prints. During 2010 she was also named ELLE’s best new designer as well as young designer of the year at the Scottish Fashion awards, for which Swarovski is an official sponsor. In 2012 Fulton was awarded catwalk sponsorship by the British Fashion council’s NewGen award scheme, sponsored by Topshop since 2001, which offers financial support towards show costs, helps with the sales process post show and offers the opportunity to use BFC catwalk show space. Applicants must meet a set of requirements on order to be eligible to receive the NEWGEN Fashion award including being based in the UK, applicants must have a minimum of two stockists, excluding international sales, collections must consist of womenswear and accessories. Winners of the NewGen award scheme are selected by a panel of 12 fashion industry experts including key media, buyers, and representatives from the BFC and Topshop, sponsorship is offered for 3 seasons with an additional season in some cases. This not only supported Fulton’s fashion week collections but also lead to an inevitable collaboration with Topshop. In 2010 the brand also gained funding from BFC’s Elle talent launch pad which supports growing designers through marketing/pr opportunities and building relationships with British retailers. Elle magazine provides winners with access to the industry’s top stylists, photographers and creative directors to provide editorial and promotional support. British fashion council also hosts events in collaboration with retailers in order to promote winning designers collections. Independent retailers such as cricket and Hervier Bazarr have committed to stocking at least 1 of the shortlisted designers for 2 seasons. Holly gained masses of exposure from a UK wide audience of independent retailers, which enabled her to develop a solid British market and raise her profile nationally.
Product Holly Fulton has shown a ready to wear collection of women’s ready to wear and accessories every season at London fashion week since the launch of the brand in 2009, alongside her growing portfolio of collaborations. RTW items range within the hundreds for jewellery pieces and from hundreds to ‘price upon request’ for apparel items. The Fulton collection often focus heavily on luxurious, woven fabrics. Since 2011 Holly revisited her Scottish roots to create her collections with the on going collaboration with the Scottish textile mill Caerlee, who are also shortlisted for a Scottish design award. A press release described the designers S/S 2009 debut collection. Is is clear to denounce the designer’s enthusiasm for the use luxurious fabrics teamed with modern techniques in textile fabric manipulation. “Dresses in felt and wool form the core of her output, tiled over in geometric patterns using laser-cut Perspex mosaics. Two duchess satin showpieces – one a dress, one a skirt – in collaboration with Crystallized™ – Swarovski Elements. Digital printing is used for the very first time. Oversized leather shirt and folded silk dress. But nothing is as simple as it may seem: the silk dress, for instance, uses fifteen metres of fabric in its construction. A leather dress features hand-enamelled metal discs in five shades of blue, with enamelling recurring throughout the collection. The contrast between the glamorous and the machined is a recurring motif, Fulton’s work being of a high-end finish but twisted through the mix of materials.”
Top left : Holly Fulton ‘Scape’ jacket http://www.patternity.co.uk/tag/hollyfulton/) Bottom left: Holly Fulton debut S/S 09 collection Above: Holly Fulton silk dress embellished with Swarovski elements (http://www.brand.swarovski.co)
Target Customer Profile
‘Holly designs for a confident woman, not afraid of adventure, or indeed attention. The label has built a strong global following which continues to grow.’ (http://www.hollyfulton.com/studio/profile) Fulton doesn’t have an evident target audience because she doesn’t want to exclude anyone from wearing her designs as she creates for women rather than individuals. ‘Fulton says there’s nothing better than diversity:
“I have a love for women, and I love nothing more than seeing my work on a variety of women as opposed to just myself and the models.”’ (http://www.hollyfulton.com/studio/interviews/commonsandsense)
The designer also seems to design each collection for different women, the S/S’11 collection was aimed at women who are trying to escape the city and always want to look their best, whereas the S/S’13 woman is all about feeling fresh and looking forward to her holiday. There is a similar trend in the fact that all of her S/S collection and created for women looking forward to her holiday but the personalities behind each woman is different for each season.
Marketing Holly Fulton has many social media platforms to interact with customers/fans/other media about her brand and everything that is going on. Along with her website, the designer has media accounts on Facebook, Twitter, Tumblr and Instagram. The following on these accounts are not as high as what would be expected with 703 likes on Facebook, 783 followers on Twitter and 185 followers on Instagram. This could be because the designer’s target market may not necessarily be online as she usually caters for more mature females not young women in there 20’s. The content of her social media accounts is very brand orientated. All images posted on the Tumblr are either inspiration photos behind the collection, previews of prints and designs or media coverage where Holly Fulton clothes or accessories have been printed. The Instagram account has a more personal feel as it heavily features pictures of the designer herself, what she is wearing and doing, along with photos of the current collection. Fulton’s Facebook account is more market driven as many of the pictures posted on her page are examples of media coverage and press mentions involving the brand with a link to where fans can buy the pieces. The designers Twitter page has similar content to the Tumblr page, as all images are media coverage, snapshots of the collections and some of Fulton’s illustrations.
The Holly Fulton twitter page (https://twitter.com/STUDIO_FULTON) The Holly Fulton website was recreated in September 2012, featuring the footage of the S/S’13 collection as the background on the homepage. The website is easy to navigate around and has a lot of information about the designer along with imagery and discussion behind her current and previous collections. Past collaborations and interviews with the designer are also featured, allowing customers to get to know the person behind the brand and what the inspirations are behind the collections. The public also have access to view where they can buy Holly Fulton garments or accessories from online stores and stores all over the world. Although Holly Fulton displays all of her collections on her website, the designer does not have dedicated lookbooks. Fulton has had one fashion film for her S/S’11 collection, created in collaboration with Quentin Jones for Test magazine. ‘The result - a colourful, award winning, pop explosion in which Jones brings to life the Holly's inspirations, illustrations and prints.’ (http://www.hollyfulton.com/studio/projects/quentinjones)
PR Holly Fulton is represented by TALK PR, which were established in 2001. Based in the West End, TALK PR ‘has built a reputation for combining the strategic thinking, global intelligence and immaculate implementation of a major player with the connections and creativity of a boutique specialist.’ (http://www.talkpr.com/about-us) TALK PR created a scheme, Talk Future, which provides support and nurtures new creative talent, which involved Holly Fulton. They wanted to create brand ‘strategies that supported all aspects of their business from editorial/ feature placement, London Fashion Week show organisation, sponsorship & collaboration opportunities and stockist liaison.’ (http://www.talkpr.com/clients-and-work/fashion-luxury/holly-fulton-michael-van-der-ham) The strategies they used focused heavily in media, they wanted to build more brand awareness for Holly Fulton and they did this through product placement and interviews. The results proved successful as Fulton’s industry and media awareness has increased, with 383 pieces of coverage were achieved for the designer within key titles during 2012. They were also able to secure attendance at LFW’s shows of VIP UK and International media and buyers, which leads with further coverage and additional stockists each season. Holly Fulton then also has secured sponsorship with brands such as Wella professionals and L’Oreal for her LFW shows. The designer has said in the past she will not give her designs to celebrities to increase awareness because that is not who she wants to wear her designs. “I say no to most celebrities who want to borrow dresses but I’d love to dress the women of the older generation, such as Joan Collins or Angelica Huston. Someone unexpected” (http://www.hollyfulton.com/studio/interviews/commonsandsense) Collaboration Since the beginning of Holly Fulton, the designer has collaborated and worked with numerous brands from Swarovski to Topshop, creating anything from stationary to accessories. As part of her A/W’10 collection, Holly Fulton collaborated with the luxury crystal brand Swarovski. She created jewellery for the brand that stemmed from her own designs and love of graphic prints and art deco. The glass artist Louis Barrilet inspired the luxe and industrial pieces, ranging from necklaces, to bracelets and rings. ‘Using the varying shades of metal reflects this and captures the industrial feel often present in my work. I feel the simplicity of the design allows the materials to speak for themselves whilst still creating a strong, simple aesthetic in keeping with my love of Deco.’ (http://www.hollyfulton.com/studio/projects/swarovski) In 2010 Holly Fulton worked with ASOS and brought out a small collection for the growing ecommerce store, which was at a decreased price to her usual collections. Within the capsule collection, Fulton had designed a scarf, shirt, skirt, dress, leggings and a necklace. The price ranged from £40 for the digital print scarf to £95 for the embellished print skirt. 2011 brought a further two collaborations for the designer. Holly Fulton brought out a limited edition range of products with luxury stationary brand Smythson. ‘The collection of yellow and aqua blue leather journals and diaries were inspired by her ready-to-wear spring/summer 2011 collection; admittedly for women to use as "the perfect foil to do what they do best: pouting, preening, cavorting, dressing to impress in statement jewels and generally behaving as any chic young thing would do”.’ (http://www.hollyfulton.com/studio/projects/smythson)
Left: Swarovski elements. Right: Holly Fulton for Topshop Fulton then went on to work with illustrator and director Quentin Jones to create a fashion film for Test magazine for Summer 2011. The film brings to life Fulton’s inspirations, illustrations and prints and uses ‘collaged imagery overlaid with graffiti-style painting, 3d stop frame animation and surreal references to construct magical flights of fashion fantasy.’ (http://www.hollyfulton.com/studio/projects/quentinjones) Holly Fulton is part of NEWGEN, a talent identification scheme created by the British Fashion Council which showcases and promotes new designers, which lead her to create a t-shirt for the high street giant Topshop. Along with other designers in the NEWGEN scheme such as Mary Katrantzou, Erdem, Christopher Kane and JW Anderson, Fulton created a graphic t-shirt inspired by her well-known love of art deco and the buildings of New York. The t-shirts went on sale in February 2012, priced at £30. To create her SS/12 collection, Holly Fulton worked with Scottish knitwear brand Caerlee to create cashmere pieces within the collection. ‘"As the UK's only full-time employer of hand intarsia artisans, we can make a knit look like printed silk, "Caerlee managing director Tom Harkness explained. "We were looking for a designer who could work well with our team, and whose designs would make a perfect showcase for our skills and experience. It's great working with Holly."’ (http://www.vogue.co.uk/news/2011/09/19/holly-fulton---knitwear-collaboration-withcaerlee)
Competitors Holly Fulton is an evolving brand with a definitive aesthetic however she has not yet established a specific target demographic and so it is difficult to determine any particular competitors. However, there are Designers within her sector who are in similar parallels with the brand and who have shaped or are continuing to shape their business through similar methods as Holly Fulton.
Left to right: Louise Gray, J W Anderson, Mary Katrantzou
Louise Gray Similarities Signatures: “Colour, textures, hand silk screened, specially developed fabrics in woven, embroidered and printed techniques.” Sponsorship: Louise Gray also gained sponsorship and funding from NEWGEN(2011) and Fashion east(2007) in order to produce shows and promotional support. Sponsored by the centre for fashion enterprise Support from Newgen scheme led to an inevitable collaboration with Topshop. (clothing as well as make-up) Also created a small capsule collection including clothing and accessories with ASOS. (2011) Nominated for Scottish fashion award Stockists: UK Stockists www.thecorner.com International Stockists
Differences Winner of BFC fashion forward award (2012) Other collaborations: The Victoria and Albert Museum, Nicholas Kirkwood, Pollini Cotton, Nasir Mashar Internal PR
RA, PARIS Havana, IRELAND Isetan, JAPAN I.T. HONG KONG Susan, California, USA The Grocery Store, California, USA Ceilo, LA Showrooms: LONDON show ROOMS, Paris only. J W Anderson Similarities Funding: Sponsorship from Newgen and winner on the emerging talent award at the british fashion awards (2012) Collaboration with Topshop 2012 Stockists: matches and Browns, London International stockists: Colette, France Dover Street Market, Japan Restir, Japan 10 Corso Como, South Korea Ikram, USA Opening Ceremony, USA Textile focused Uses Swarovski elements Mary Katrantzou
Differences Shows both menswear and womenswear collections Signature: more focused on textile than print Produces fashion films in addition to catwalk and static shows. More UK stockists: Browns Focus Dover Street Market Harvey Nichols Matches Net-a-porter.com Selfridges Liberty
Similarities Signature: “A hyperrealist aesthetic, bold graphics and industrial jewellery. Funding: NEWGEN sponsorship for 6 seasons (2009-2011) BFC emerging talent award winner 2011 Collaboration with Topshop UK stockists: Browns Matches (Notting Hill, Marylebone and Online)
Differences Shortlisted for the BFC/Vogue Designer Fashion Fund 2012 More UK stockists: UK Stockists Bernard of Esher Dover Street Market Feathers Flannels Harvey Nichols (London & Manchester) Joseph (Fulham Road and New Bond Street) Net-a-porter Online Selfridges (London & Manchester Trafford Centre) Over 140 stockists internationally including Australia, Belgium, Brazil, Canada, Chile, Cyprus, Dubai, Egypt, France, Germany, Hong Kong , Italy, Russia, Kuwait, Spain, Turkey, USA etc
(http://www.londonfashionweek.co.uk/designers_profile.aspx?DesignerID=1049)
Progression Since her debut collection in 2009 it is clear to see that Holly Fulton has utilised the awards and sponsorship schemes available to her to establish the herself as one the the fastest and most successful emerging designers. However, by looking at her competitors, we can denounce that in order to progress within the industry, there are other platforms and channels which she can acquire in order to develop the Brand further. Mary Katrantzou, for example, although is a much more established brand, will potentially be one of Fulton’s biggest competitors in the future. Mary Katrantzou, as well as lousie gray and J W Anderson have all gained sponsorship from the Newgen scheme, Katrantzou and Anderson are also winners of the British fashion councils emerging new talent award. However, there are other funding schemes which these designers have profited from which Fulton may be eligible for and may gain in the future. BFC Fashion forward scheme Brands eligible for this scheme must be over 3 years old but still need support to grow their business. The scheme is for designers who have already established a profile at London fashion week through NEWGEN or are at a similar stage in their business. Business should also have a turnover between £300,000 and £1,000,000 although other businesses may be considered in exceptional circumstances. The scheme gives winners access to top level advisors and is decided by a panel of key industry members. Eligible designers must submit a full business plan and brand presentation in order to be considered for the award including:
Short-term and long-term business goals and objectives. Current organisational structure (employees and roles). Consultants, outside advisors and professional organisation that you are currently working with. Your current brand positioning in the market. Three year plan for the business. Last set of audited accounts and projection for current financial year. A list of your current UK and international stockists. A diversity monitoring form. A portfolio containing imagery and look books from your recent spring/summer 2013 collection and past 4 seasons collections s which may include sketches, photos, editorial images, advertisements and/or videos.
Successful applicants will then be selected for an interview with an independent panel of media, buyers and sponsors. Winners will receive:
Cash support from £5,000 up to £20,000 to be used towards their showcasing production at London Fashion Week. Designers may receive venue support to show in one of the official BFC spaces, if this is suited to their showcasing plans. Designers should be open for sales appointments in London during the season that they receive support. Designers will have access to business support and mentoring from the BFC.
Previous winners include: Christopher Kane, Erdem, Giles Deacon, Jonathan Saunders, Louise Goldin. (http://www.britishfashioncouncil.com/content/1145/Fashion-Forward)
The BFC/Vogue fashion fund In the future the brand may also consider applying for the vogue fashion fund. Mary Katrantzou was recently shortlisted for the 2012 award along with other established designers including Marios Schwab, Meadham Kirchhoff, Nicholas Kirkwood. However, these designers were beaten to the award by Jonathan Saunders. Eligible designers must established on the LWF circuit as the award will offer them a ÂŁ200,000 funs and director level monitoring assistance. Applicants must provide a detailed business plan including details of: Current organisational staff structure Summary of financial accounts and forecasts include fixed costs, assets, total cost of salaries PR and marketing activity Collection information and sales strategy An outline of how the fund will help develop the brand As well as a portfolio presentation, containing work from your spring/summer 2013 collection. Successful applicants are invited for an interview and chosen from a panel of top industry level professionals. (http://www.britishfashioncouncil.co.uk/content/1709/Application--Criteria)
Jonathan saunders- winner of the BFC/Vogue fashion fund AW 2012 Collection
Sales Stockists: A selection of the Holly Fulton ready to wear collection is primarily stocked in high end department stores and online retailers both in the UK and internationally. The support of award schemes such as BFC tradeshows and LFW showrooms have allowed the brand to branch into growing international markets such as China. UK Stockists Matches, London Hervia Bazaar, Manchester International Stockists Harvey Nichols, Kuwait N Boutique, Kuwait The Closet, Qatar Socialista Boutique, UAE P Plus, Beijing I.T, Hong Kong Liger, Hong Kong Shine, Hong Kong Beams, Japan Sol Gravite, Thailand Anna Ravazzoli, Italy Bernardelli, Italy Atelier 55, Turkey Jeffrey, USA Kiosk, USA Laboratoria Shop, USA Secret Location, Canada Online:
Matches Daily Projects Hervia Laboratoria-shop
Future brand strategy Analyzing the brands international stockists, it is clear that the business has chosen to focus it sales internationally, particularly in the Asian market and in the USA. Generating international sales early in a brand’s business strategy is key to growth, the brand’s success within the Asian market may be due to its aesthetic and handmade quality translating well. “Certain products such as perfumes and diamonds have prestige because the Chinese still do not have the craftsmanship to make these products. So it’s important that luxury brands communicate about their craftsmanship and differentiate themselves from other brands. There’s an appeal in how these products are made. This strategy is working like crazy.” (http://www.businessoffashion.com/2011/08/global-briefings-how-to-seize-the-chinaopportunity-beyond-store-openings.html#more-24258) Holly Fulton’s attention to handmade fabrics in collaboration with Scottish textile mills as well as her support and collaboration with Swarovski elements contribute to the brand’s success
within countries such as China and Japan as craftsmanship has an extensive appeal within the Asian market. “the luxury retail landscape is being completely redefined. The number of millionaires in Brazil is on the rise, spurred by a commodities boom and new oil discoveries, and is predicted to surpass 1 million by 2020.This year, the Brazilian luxury goods industry is expected to grow to more than $12 billion.” Holly Fulton does not currently have a large presence in south America and as Brazil is becoming considered one of the fastest emerging market, this may be an area of potential growth. Brands such as Prada, Hermès and Bottega Veneta have recently opened stores in brazil and more than 30 other new retail opening are expected during 2012. With the expansion of the luxury market in brazil continuing to rise, with larger brands managing to have good success in the market it is important to recognise its potential. Brazil is anticipated to have an even greater period of economic growth due to tourism in the build up to hosting the 2016 Olympics. However, it is also important to identify Brazils import duties, tax rates and the rental cost of store space. “tax rates differ depending on the product category, resulting in more than 300 different tax positions within the textile and apparel sector alone. A staggering 38 percent of Brazil’s GDP is comprised of taxes, versus 8 to 20 percent for other countries. Imported products as much as two or three times more expensive than in their home markets. At the Burberry store in Sao Paulo, a trench coat that retails on for $915 on its UK website was selling for 3695 reais, or $2075, more than twice as much as it costs in the UK.” (http://www.businessoffashion.com/2012/01/the-fashion-trail-unravelling-brazils-luxurymarket.html#more-28699) As Holly Fulton manufactures the majority of her collection within the UK, an aspect which resonates well within the China, the company would have to consider its tax position before deciding to branch into the South American market. The brands presense within North America may also resonate well within the the Brazilian market as the Brazilian woman is described as “completely fashion-oriented. She knows everything about fashion. These women, said Ms. Mendes, follow American Vogue as much as they follow Brazilian Vogue. They see all the same editorial and advertisements at the same time as the women in America. They tear out the pages, mark them with post-its and send them to sales girls who bring it all to their homes.” (http://www.businessoffashion.com/2012/01/the-fashion-trail-unravelling-brazils-luxurymarket.html#more-28699) They may already recognise the brand from press mentions within American publications which would create positive connotations towards the brand and as only 1 in 3 Brazilians are online, Holly Fulton cannot rely on online stockists to appeal to this market however, this could create a demand for a retail outlet.
Strengths A strong brand aesthetic Recognised within the fashion industry via the support of prestigious funding schemes, awards and presence at LFW. Range of successful collaborations which have increased brand awareness Strong international market for an emerging designer with presence in Asia and USA Opportunities Branching into potential emerging market (South America) Application for more advanced funding schemes and awards in order to develop the business further Potentially more collaborationsincreasing number of UK stockists
Weaknesses Social media- lack of good social media as a promotional tool No definitive target market/demographic. Poor UK presence, few UK stockists
Threats Competitors- some of the main competitors, as outlined previously are gaining a large presence both in the UK and internationally. Holly Fulton risks being overtaken if the brand does not match sales. Social media- poor social media links means the brand may be alienating itself from the youth market and not taking good advantage of this change in methods of promotional. Limited UK stockists and only 1 show room located exclusively in Paris.
Holly Fulton A/W 11 collection (http://www.hollyfulton.com/collection/aw11)