J. Crew Paris France by Candice Alvarado

J. Crew Paris, France International Marketing Analysis

Candice Alvarado, Kaitlin Andreas & Tyler Wisdom Final Project FM420 International Marketing Fall Quarter 2011

Table of Contents The J. Crew Brand…………………………………………………………………………………….3 Company History………………………………………………………………………………3 Product Line…………………….……………………………...………………………………3 Target Market in the United States……………………………………………………………...3 Marketing Strategy in the United States…………………………………………………………3 Introduction into a Foreign Market: Paris, France…………………………………………………..4 Population……………………………………………………………………………………....4 Economy & Government………………………………………………………………………5 Climate & Geography…………………………………………………………………………..6 Local Culture…………………………………………………………………………………...6 Retail Environment…………………………………………………………………………….6 Competitive Analysis……………………………………….…………………………………..7 Marketing Strategy……………………………………………………………………………………9 Distribution Methods & Channels……………………………………………………………..9 Advertising Strategy…………………………………………………………………………...10 Pricing Issues……………………………………………………………….…………………11 Localization Issues…………………………………………………………………………….13 Executive Summary…………………………………………………………………………………..15 Works Cited…………………………………………………………………………….……………..16

The J. Crew Brand J. Crew Company History J. Crew was first established in 1983 as a mailing catalog and six years later opened the first flagship store in New York. In 2003, Milliard “Mickey” Drexler became our chairman and CEO and currently still holds this position today. In this year we introduced several line extensions: Crewcuts for kids; J. Crew Wedding and Parties; and J. Crew Collection. We continued to expand with a series of new specialty boutiques that included stores catering just towards men and stores catering just towards women. In 2006 Madewell, a modern-day interpretation of an American denim label that was founded in 1937 was introduced. Madewell.com, the e-commerce site was launched in 2010. This following year in 2011 J. Crew expanded the international e-commerce to include shipping to select international destinations. 1 Today, J. Crew has a total of 235 brick-and-mortar locations throughout the U.S. and employs 3,887 employees.2 According to last year’s income statements J. Crew’s had a net income of 158 million in the year 2010 which is a net income growth of 127.6 percent. 3 J. Crew Product Line At J. Crew the merchandise we offer has a very refined and preppy look and feel about it. We offer apparel for men, women, and children. We also carry accessories, swimwear, shoes, and wedding dresses. Our style is very up-to-date and fresh with new, current merchandise on a regular basis. J. Crew Target Market in the United States Though we carry merchandise for all men, women and children we have found the majority of our shoppers are young females with no children. Aside from Caucasians, our second largest ethnic group of consumers is Asian. These women are mostly graduate or post-graduate students with a higher income of 100k per year. 4 Marketing Strategy in the United States We have started a new “Who’s That Girl?” campaign for the U.S. in our catalogs and on our website. This campaign features real-life J. Crew consumers who share their stories and give our other shoppers someone to relate to. http://www.jcrew.com/footie/contactus.jsp http://www.ft.com/cms/s/2/bcf99a3e-fb01-11e0-bebe-00144feab49a.html#axzz1bnxiM07u 3 http://www.quantcast.com/jcrew.com#demo 4 IBID 1 2

Introduction into a Foreign Market: Paris, France Our company, J. Crew, has seen unprecedented success in the US market for almost three decades now. The company is stronger than ever because of our ability to change and adapt to current market demands and their willingness to listen to their consumer’s needs and wants. Since we are so well established and successful in our current market, we are proposing that we venture into a new retail environment: Paris, France. Here is our market analysis of Paris, France; it illustrates how the city is the perfect new market for the J. Crew brand to capitalize on. Population Paris, France is a buzzing metropolis with a population of over 2,152,423 people.5 The city is the most densely populated area in France, with more than 20,0006 people per square kilometer and the population is only growing from there. The city has had a steady population growth almost every year since 1999, but much of this growth is due to immigrants from other countries, as opposed to more French people coming to the city. By the latest count, only an amazing 19.3% of Paris’s population is Parisians, the other 80.7% of the population were not born in the city but instead, either come from other parts of France or from other countries all together.7 Over 14% of the Paris’s population is foreign born, and from that 14%, 70% of that population is not from a European country.8 Although the population is not exclusively French speaking, the French language remains the most prominent language spoken in the city. These statistics tell us a lot about the atmosphere and culture of Paris, as it is a diverse and ever changing population. Every year, the city’s population swells to even greater proportions due to the immense number of tourists in the area. With over 27 million foreign tourists each year, Paris is the number one tourist destination in the world. 9The huge influx of tourists makes the city a prime location for shopping, dining and all forms of entertainment. The median age in France is around 39 years old, but Paris is a unique city and its population is younger than that of the rest of the country. Furthermore, Paris’s population has an average age closer to 30.10 The city is also made up of a lot of single people or families with only one child. The average house size is 1.75 people, which is due to the younger population and their lifestyle habits.11 The city is built around a

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young, urban lifestyle and it is very common for people to leave the city once they reach retirement age, and this is a large contributor to the cities younger population. After researching the population of Paris, France, we see that it is very compatible with the J. Crew consumer. The age of the permanent population is consistent with our company’s target market and the high number of tourists makes the market very retail friendly. Our research has shown that there is a very substantial population of our companies target market living and traveling in Paris. We would actually have double the consumer base because the local population is compatible with our target audience as well as the demographics of the tourist who visit Paris. Economy/Government Both France and more specifically, Paris, have strong local economies. Both Paris and the rest of the country’s economies are highly driven by the tourism market. Interestingly, France has the third largest income from tourism in the world. With an economy based so highly on tourism, France has weathered the current economic crisis better than most other countries. In an article from the Central Intelligence Agency, they explain in greater detail how the French economy is fairing in these hard economic times. “France has weathered the global economic crisis better than most other big EU economies because of the relative resilience of domestic consumer spending, a large public sector, and less exposure to the downturn in global demand than in some other countries. Nonetheless, France's real GDP contracted 2.5% in 2009, but recovered somewhat in 2010, while the unemployment rate increased from 7.4% in 2008 to 9.5% in 2010. The government’s pursuit of aggressive stimulus and investment measures, in response to the economic crisis, however, is contributing to a deterioration of France's public finances.”12 In a time when many businesses are struggling, having an economy that is based heavily on the retail industry is a good sign for any city, and that is a large contributing factor as to why Paris is doing as good as it is. Their local economy, along with their government’s dedication to restoration, makes Paris a safe city to invest in. The government of France, along with the mayor of Paris, has taken actions that will protect their people against economic crisis, including tax cuts and new regulations. Research has shown that in hard economic times, people still shop and make purchases. We feel that the state of Paris’s economy, as well as their government’s proactive practices, is a strong sign that this location is a compatible fit for our company.

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Climate/Geography The climate in Paris is a very mild, agreeable one. Paris, itself, is always slightly hotter than the surrounding areas and the hottest month is July. The area receives a good amount of rain, but for the most part, its average temperature of 20 degrees Celsius makes it perfect tourist weather for the majority of the year. 13 The geography of Paris is a very interesting one; it has more woodland per capita than any other European capital. 14 This geographic feature was done very purposely to keep the organic feel of Paris intact, even through its urbanization. There are two woods surrounding the city, one on the East side and one on the West side. This unique feature adds to the appeal and atmosphere of the city. Another notable geographic feature is the river Seine, which snakes its way across the city landscape. The river supplies an important element to many industries; transpiration, trade, and of course, tourism. Local Culture Paris is an interesting mix of the old and the new. It is also an illustration of what happens to an old city when it becomes modernized and culturally diverse. The city has become a melting pot of different cultures and lifestyles but still maintains its old world Parisian feel that has made it such a tourist destination. The influx of immigrants has certainly altered the atmosphere and landscape of Paris, but the statistics still show that the majority of the population is still traditionally French. The city is in transition, and for now, the Parisian way of life still prevails, however, slowly the population is growing more culturally diverse. 85% of the Paris population is Roman Catholic, with the second most common religion being Muslim, with 7%. 15 The most prominent nationalities in the region also reflect this more diverse trend; French, Celtic, Latin, Slavic, North African and Indochinese are the majority of the population.16 Retail Environment: Avenue Des Champs-Elysees The retail environment in Paris is strong and constantly growing, supported in large by the 27 million tourists that flock to the city each year. Paris is known as one of the shopping capitals of the world, as it boasts over 60,000 shops- the highest concentration of retailers in France. 17 The hub of the retail experience is located on the famed Avenue Des Champs, translated to â&#x20AC;&#x153;the most beautiful Avenue in the worldâ&#x20AC;?. Known as one of the largest and most prestigious shopping areas in the www.paris.fr IBID 15 www.cia.gov 16 IBID 17 www.paris.fr 13 14

world, the Avenue is one of the city’s biggest tourist attractions. It is the second most expensive strip of realestate in the world, second only to 5th Ave. in New York. 18 Rents on this precious land start at 600,000 Euros per year, and these prices make sure that only the highest quality of retailers are present in the area. In addition, they keep the retail atmosphere at a high level of quality and prestige. The avenue has two different areas to it; the lower part of the Champs-Élysees is bordered by greenery and by buildings, such as the Theatre Marigny and the Grand Palais. This area has a more traditional and historical atmosphere and is home to some of the great architecture of the city. Further to the West, the avenue is lined with cinemas, theatres, cafes, restaurants and luxury specialty shops, giving it a more modern feel. Paris, more specifically the Avenue Des Champs is the perfect retail environment for a new J. Crew store. The city is already a tourist destination that is especially known for their amazing shopping. Consequently, our company would have a built-in customer base already present in the area. In this case, competition is a good thing, as it guarantees that we will have a large amount of our target audience coming to our new location. As far as retail environments are concerned, Paris may be one of the best in the world, and that is why we need to capitalize on this prime market as soon as possible. Local Competitive Analysis Avenue Des Champs, the specific area that we want to locate our new store, has the highest concentration of retail stores in Paris, making it highly competitive retail market. Our research demonstrates several factors this market is a perfect match for our company and the competition is actually an asset of the area. The Avenue was traditionally made up of only French boutiques and high-end designer shops, but in the recent years there has been a shift to a broader selection of stores. This shift has been met with differing attitudes; many more traditional Parisians have fought hard to keep the large “chain” store out of the area while there has been an opposing push to diversify and modernize the shopping district. The change began several years ago with larger companies buying up real-estate in on the pricey street. Then, when it became apparent that the atmosphere of the avenues was beginning to change, the city government of Paris took actions against this change. In 2007, the city government banned the retail giant H&M from purchasing retail space in the area. 19 This was done in an effort to protect the purity and localism of the greatest shopping in Paris. It only took two years for H&M to find a way into the space anyway, and since then, a flood of more global brands have been allowed in as well. 18 19

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Many of our direct competitors have already moved into this prime real estate. Companies like Zara, Gap, Sephora, Abercrombie & Fitch, Nike and most recently Banana Republic, are just some of our competition that has already expanded into new global markets. Their expansion has paved the way to make it easier for us to expand as well. Studding the success of Gap and Banana Republic in this foreign market, we now know that our store will be well received and supported by a large target market. Researching the Paris market has revealed substantial evidence that our company would be a huge success there. The target market is present, as well as a good amount of our competition, both of which are signs that we would be successful. This seems like an excellent time for our company to expand our brand and our image into this new healthy foreign market.

J. Crew Paris, France: Marketing Strategy We have found Paris, France to be an ideal foreign market for J. Crew to expand into. Given Paris’s large population, wealth, lifestyle and love for fashion we have been able to identify our target consumer in this new market in both the residents of Paris as well as the many tourists that visit each year. Thus, were able to predict that we too would be successful amongst our competition such as GAP, Banana Republic and European retailer, ZARA that currently have existing retail locations in Paris. However, it is crucial that we make changes to our current J. Crew marketing strategy in order to better appeal to our Paris, France target consumers. Distribution Methods & Channels Our current marketing strategy uses four distribution methods in order to get the product to our consumer, brick & mortar stores, an online site, the J. Crew catalogue and last but not least, a partnership with the global online fashion retailer; Net-a-Porter. J. Crew is known for it’s classic and simplistic style in both or clothing as well as in our retail stores; we wish to maintain that style as we begin to venture into the international market. Our proposed Paris, France location on the famous Avenue Champs de Elysee will be amongst some of the finest luxury couture shops.20 While we want to maintain our brand esthetic in the Paris store, we would also like to customize it to have a more vintage, boutique feel to better represent the French culture. By doing so, we will not only create a curb appeal for passer-bys but also allow the consumer to feel as if J. Crew is a little piece of Paris rather than an ‘American’ store that looks the same in Paris France as it does in Seattle, Washington. By doing so, we are making the shopping experience in our store unique to Paris & giving the customer an incentive to ultimately make a purchase. Not only will we be distributing merchandise through our brick and mortar store but through our online shop as well. J. Crew was first available online through global online fashion retailer net-a-porter beginning in June 2010.21 Largely to the success of our sales on net-a-porter, we made the decision to begin to head overseas and create a online store available to select countries. As of August 2011, J. Crew has made it possible for consumers in France (as well as The United Kingdom, Italy, Germany and Ireland) to make purchases via our Europe online store, www.jcrew.eu.22 As shoppers visit our online site in these countries, we have changed the language to be dependant on the country and converted to prices to the Euro. As the online site is already accessible by our Paris, France consumer, they have been able to become associated with www.discoverfrance.net www.wwd.com 22 www.wwd.com 20 21

our brand and may even already have a few pieces in their closest. The regular prices of the merchandise online will be the same as regular prices in store, although we will offer different sales and promotions via the different channels of distribution which will be covered in our pricing strategy portion of this report. Last but certainly not least, J. Crew maintains it’s classic distribution method, it’s mail order catalogue. The catalogue is a part of J. Crew’s history some may even refer to it as it’s first success in the fashion industry. J. Crew officially debuted in 1983 as a mail order catalogue that was sent to the customers of fashion brand Popular Merchandise”.23 “J. Crew was intent on selling an upper class contemporary look for less. The catalogues mostly featured young looking models having fun in a variety of social situations. Up close pictures of the fabrics used in the clothing were shown to prove the high quality of the merchandise. In a normal year, at least 8,000 rolls of film were shot for the J. Crew catalogues. Due to the large amount of photographs that made up the catalogues, most averaged more than 100 pages when finished”.24 This is one distribution method that makes J. Crew unique allowing us to stand out from our competition. While many retailers have ditched mail order catalogues and focused their attention on Internet retailer, J. Crew continues to hold onto its history by offering a catalogue to it’s customers. Not only does our catalogue act as a distribution channel but also as our primary branding and advertising strategy. Advertising Strategy Although J. Crew is an established brand in it’s current US market, it just recently became available in Europe more specifically France. Therefore, it is crucial for us to advertise the grand opening of our very first European retail store. We can do so by first sending exclusive invitations to current Paris customers whom have made a purchase through the J. Crew online store. This invitation will welcome and encourage them to visit our store by offering an exclusive sneak peak event pre-grand opening, along with a discount incentive. By doing so, we create a positive relationship with our constant consumers of Paris, France by showing them we value their repeat business over the one time visitors of Paris. We will also advertise our store through our window displays which will reach the thousands of people strolling the Avenue de Champs Elysee each day. However, Paris authorities have created a law with rules to follow for advertising on city streets in order to reduce these invasive street ads. This law has limitations on size and has placed a ban on illuminated signs. This law was influenced by the results of an opinion poll which show that more than half of Parisians surveyed say that they want advertising to be ‘less 23 24

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invasive”.25 J. Crew strives to use simplistic approaches in display windows and advertisements to appeal to the customer as the classic, simple style that we embody as a brand. In store promotions, advertising and visuals will also maintain our classic approach, while we hope to design the store in a vintage Parisian style with accents such as vintage suitcases and pieces that symbolize Paris yet also identify with the tourist customer. A classic, yet subtle advertising technique that was used in New York prior to the grand opening of the J. Crew Bridal boutique were simple written ads found on the back of bike rickshaws that provide people with a alternative ride that is faster than walking and better for than environment than a taxi. Upon our grand opening, we will plan weekly and monthly in-store fashion shows & in-store events in order to bring people into the store, allowing them to see the merchandise on actual people rather than just in store displays, in the catalogue or online. This also helps our customers to pair our pieces together to create a fashion forward ensemble. By mixing and matching our classic merchandise with seasonal trends, we are able to create a variety of timeless, yet fashionable styles even with a limited number of pieces. Lastly, J. Crew will offer an exclusive catalogue to France, printed in French including prices in Euros. The catalogue will be integrated with our online shopping site to provide a cross-channel experience for the consumer. In a case study featured on Econsultancy.com found that “online shoppers who read retail catalogs are often better at using e-tail websites than those that get there through search engines”.26 J. Crew is even used as an example of a retailer who is able to direct their customers online through the layout and features of our catalogue. Since our current J. Crew customer is limited to shopping J. Crew online only, creating a connection between both the catalogue and the online site will allow for a smooth integration between introducing our brick and mortar stores as well as maintaining successful online sales. Pricing Issues Through the current Europe online shop we have established merchandise prices in Euros for our European consumers, including those France. Currently the pricing on the online store converts prices directly using the current exchange rate, as of today 1€ is equivalent to $1.30 US dollars.27 With a difference in currency, as well as retail taxes there are both disadvantages & advantages to selling our merchandise in the European foreign market. The European Union controls much of the European economy including the value of the Euro. They also implement retail taxes on merchandise called the Value Added Tax (VAT). The VAT is set by each www.guardian.co.uk www.econsultancy.com 27 www.google.com/finance 25 26

countries current economic situation, for Paris the current VAT is 19.6%.28 This tax of nearly 20% makes a cashmere cardigan with a retail price of 183€ nearly 240€ after the VAT is added. While this seems to be a ridiculously high tax, Parisians submit to the law and make purchases, pay the taxes and receive the benefits in which these high taxes provide. Given Paris’ is a popular tourist destination; there is incentive for travelers to shop. Non-EU residents whom will be exporting their purchases upon leaving Europe qualify for the VAT rebate (12%-15% depending on the store) if you spend a minimum of €175 at the same store in one day.29 Therefore, this tax can be viewed as both an advantage and a disadvantage as it gives tourist shoppers incentive to spend more, but heavily taxes those citizens who are permanent residents of Paris. Mentioned in the above law is “Non-EU residents who will be exporting their purchases…”, the concept of export and import costs also need to be factored into pricing. J. Crew merchandise is primarily produced in China and must be exported and imported to the country in which the merchandise will be sold. Since we will be shipping merchandise direct from our manufacturer in China to our Paris, France location rather than batching all of the merchandise to the warehouse United States first – we will be reducing the cost of shipping, thus giving us a higher profit margin. This savings is an advantage to J. Crew and allows our company to be more efficient in our distribution methods. However, importing goods directly into France also comes with a price. Duties on importing goods into France range from 5% - 17% depending on the nature and the value of the merchandise.30 We will absorb these costs into our cost of goods (COG) given that our Paris, France consumers are already hit with the 19.6% VAT. This can be seen as a disadvantage when looking at pricing issues that arise when expanding to international markets. Lastly, we will focus on ‘Les Soldes’, French for “The Sales”. Storewide sales in Paris are regulated by the government and occur only twice a year. Clearance and discounted merchandise is acceptable however cannot be advertised and promoted nor available in mass quantities. The French Minister of Economy and Finance , Christine Lagarde has set standardized ‘sale’ periods to be followed country-wide.31 These sales take place in January and June for a period of five weeks. “Previously, the government didn’t have the dates fixed in stone and the sales began on different days in different areas of France. The French law mandates that sale items must be on the store’s premises a minimum of a month before the start of a sale and on the sales floor at least a week before. Items that have been specifically purchased to entice shoppers

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into stores because they are discounted, or less expensive than the store’s usual stock, are required to be labeled with the word “promotion”.32 Thus, J. Crew Paris, France must schedule merchandise shipments based on the above laws to ensure that we have adequate merchandise to be sold throughout Les Soldes, which are highly profitable and awaited sales by Parisians and tourists alike. Localization Issues While there are many clear cultural differences between the United States of America and France, the most pertinent one is language. The official language of Paris, France is French and is the most widely used and widely spoken throughout the country. The government mandates that commercial advertising must be available in French, while other languages can be used. Thus, store signage and advertisements at the proposed Paris, France J. Crew will be in French. However, the city of Paris thrives off of tourism from foreigners speaking hundreds of different languages. We will address the issue of spoken language in the J. Crew store through recruiting and hiring bi and tri-lingual employees speaking French, English, Spanish, Italian, German, Chinese, Japanese, etc. While many tourists visiting France may not be fluent French speakers, travelers often carry pocket dictionaries to assist in translation between languages. To enhance the Paris J. Crew store experience, we will design the store as a classic vintage Parisian boutique, using materials and fixtures that encapsulate the old Paris style and history that is found throughout the city. We will gain the respect of locals by adjusting our store’s appearance as well as provide tourists with a curb appeal of the traditional Paris architecture that they traveled long distances to experience. We would also like to introduce a new concept for our international J. Crew expansion of locally sourced merchandise. For example, our Paris store could sell a fine cashmere sweater that was made completely in France from the initial design to the final stitch exclusively for J. Crew. By working with local companies, we are able to add value to our brand and the local economy at the same time. Lastly, we must alter our customer service approach in store to better fit the Paris standard of customer service while also providing a unique and valued experience. A recent study by a Paris consulting firm that specializes in customer relationship management found that “customer service in Paris leaves plenty to be desired”.33 The Paris customer service standard is different from what is expected in the United States, however our goal as an American based company is to bring a piece of our exceptional customer service to Paris. Rather than using a strong sales approach, we will use a satisfaction approach of size, color and fit in

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order to ensure our customers are finding products that suit them well and they not only leave our store satisfied, but are truly happy with their purchase.

Executive Summary This comprehensive International Marketing Analysis for J. Crew Paris, France provides an adequate amount research along with strategies that support the proposed success of this brand expanding into a foreign market such as Paris. The company history, product line, current U.S. target market and current marketing strategy of the J. Crew Brand are richly based on quality, sophisticated yet fashionable classics. This allows the J. Crew brand to be recognized for exactly that, creating a unique experience for customers to combine old classics with fashion-forward, trendy pieces. By identifying our target customer through market research on the city of Paris, France we were able to determine that there is a very large percentage of the population living and traveling in the city of Paris. We have the ability to double our consumer base because not only is the local population of Paris a large percentage of our target audience, but also the large number of tourists who visit the city each year. We have found Paris, France to be an ideal foreign market for J. Crew to expand into. Given Parisâ&#x20AC;&#x2122;s large population, wealth, lifestyle and love for fashion we have been able to clearly identify our target consumer in this new market in both the residents of Paris as well as the many tourists that visit each year. Thus, were able to predict that we too would be successful amongst our competition such as GAP, Banana Republic and European retailer, ZARA that currently have existing retail locations in Paris. Paris, more specifically the Avenue Des Champs is the perfect retail environment for our first international J. Crew retail store. The city is already a tourist destination for many and is especially recognized for their involvement in fashion and an amazing city for shopping. Consequently, J. Crew has a built-in customer base already present in the area via our French online shop released this past August. And in this case, competition is a good thing as it guarantees our target audience is present as they often frequent the Avenue for shopping. As far as retail environments are concerned, Paris may be one of the best in the world, and that is why we need to capitalize on this prime market as soon as possible. The marketing strategy clearly defines our planned distribution methods & channels, advertising strategy as well as various pricing & localization issues. J. Crew has strategically integrated their current successes operating in the United States with our successful sales through our European online shop in order to determine the best strategy to successfully enter a foreign market such as Paris, France.

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Mills, Ian C. "Shopping In Paris, France." Discover France - French Arts, Culture, Tourism. The Wharton Group, 2009. Web. 6 Dec. 2011. <http://www.discoverfrance.net/France/Paris/Paris_shopping.shtml>. Moin, David. "J. Crew Heads Overseas - Specialty Stores - Retail - WWD.com." Fashion, Beauty and Retail News - WWD.com. Women's Wear Daily, 8 Aug. 2011. Web. 6 Dec. 2011. <http://www.wwd.com/retailnews/specialty-stores/j-crew-heads-overseas-5041700>. "Euro (EUR) in US Dollar (USD)." Google Finance. Google, 6 Dec. 2011. Web. 6 Dec. 2011. <https://www.google.com/finance?hl=en>. "Value-Added Taxes (VAT)." ATA Carnet Export. Welcome to USCIB - United States Council for International Business, 21 July 2011. Web. 6 Dec. 2011. <http://www.uscib.org/index.asp?documentID=1676>. Weisman, Katherine. "Customer Service in Paris Leaves Plenty to Be Desired - Buying Luxury - 'an Exceptional Moment' - NYTimes.com." NY Times Archive. The New York Times, 05 Dec. 2002. Web. 6 Dec. 2011. <http://www.nytimes.com/2002/12/05/news/05iht-rstudy_ed2_.html>.