By: Carolyn Englander
Vision: Our vision is for people to discover extraordinary pieces from past and future that they never knew existed. To bring inspiration on how to take today’s fashion and upscale it with rare luxurious findings.
Mission: Our mission is to inspire people to create new looks with special and rare designer creations. To create an environment where a community of people can come together and feel special as soon as they walk in. People from different ethnic backgrounds will be able to come together and feel apart of a brand. The store will promote a sense of a luxury community and provide an opportunity for people to feel powerful, sexy, and beautiful.
Company:
Lidia’s is a luxury fashion retail store that sells rare exotic merchandise. We will carry unique high-‐class apparel that men and women can wear everyday or for a special occasion. Customers can mix and match different pieces and also accessorize to make their outfits even more unique. Customers can mix and match shirts, pants, skirts, dresses, jackets, sunglasses, shoes, jewelry, belts, suits, cufflinks, handbags, and wallets. We want our customers to feel special and by wearing one of a kind merchandise we hope they do.
Culture
The culture of our store is that the staff is passionate and loves the luxurious side of fashion. The love for fashion can be shared with the customers.
The company culture is a bit fast paced but also has a relaxing environmental feel so the associates don’t get too stressed out. We want to create a team and input from all levels of staff is taken into consideration.
Company
Competition
Our company competes closely with: Barney’s New York Neiman Marcus Saks Fifth Avenue
Our store creates a trendy, fashion forward demographic. Since, corporate manages these three stores Lidia’s has an advantage because we are not a corporate building. Our customer services are more personal and we really try to get to know each customer that walks into our store. Lidia’s offers a great customer services than many of our competitors because unlike Barney’s, Neiman Marcus, and Saks we cater to younger and older people. Our products we offer are also more expensive but the things carried in these chain stores no one will be able to find them unless they come to Lidia’s.
Merchandise
Emporio Armani Suites: $10,000
Marc Jacobs Jackets: $12,000
Alexander McQueen Dresses: $15,000
Stella McCartney Tops: $5,000
YSL Paris Pants: $3,000
Alexander Wang Pants: $1,200
Versace Leather Jackets: $20,000
Merchandise Accessories
Christian Louboutin Shoes: $8,000
Prada Sunglasses: $500
Burberry Wallets: $7,000
Gucci Necklaces: $70,000
Salvatore Ferragamo Men’s Cufflinks: $700
Chanel Handbags: $30,000
Hermès Men’s Ties: $300
Men’s Belts: $700
Location Fact Sheet
• Store Location: 925 N Michigan Ave, Chicago, IL 60611 • Cross Streets: Michigan Avenue, and E Oak Street • Neighborhood: North Michigan Avenue • Total Square Footage: 5,000 sq. ft. with o a second floor and a square basement • Shape of store: Rectangle • Entrance/Exists: Customer and Employee entrance is located in the front of the store with a fire exist and shipment located in the basement • Windows: Two large display windows located on each side of the Entrance • Monthly rent: $3,000/mo • Terms of Lease: Negotiable/year • Common area fees-‐maintenance, marketing, etc: Maintenance and unity fees included in rental agreement. The marketing and promotional activity will be done with our store’s funds. • Security Deposit: $500 • Realtor Fees: N/A • A/C and heating: Separate on both floors
Planogram
Dress/Skirts Racks
Cash Rap
Display Tables
Handbags
Stairs
Seating Area
Mirror
Sunglasses Fitting Room
Shirt/Jacket Racks
Store Décor and Visuals
Place Distribution
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E-‐Business: Website Customers will be able to see our products on our website at www.lidias.com • Elegant, Interactive • 3D graphics • Create an account • Instagram • New Arrivals • Our favorite pieces • In store events • Twitter Another way for customers to be involved in through Twitter • Promotions and Events • Style Secrets • What’s being showcased each season • In store events • Favorite Runway Shows
Marketing
• Place • Magnificent Mile brick-‐in motor store • Online • Price • Targets families with upper middle to wealthy class income • Price reflects quality, limitability, and rarity of items • Promotion • Look books featuring our products • Social media • Local events • Email’s: New arrivals, pre-‐sale, special events • Mailing List • Advertising • Our objective is to expose and create interest in our store by: • Promotions on social media • Word of mouth • Publicity • Social networks • Press releases • Website
Advertising Calendar
Organization Culture: • Ideal Employee • Fashion forward • Knowledgeable • Outgoing • Caring • Helpful • Happy • Energetic • Environment: • Walking into Lidia’s, the chic furniture, colors, and placement of merchandise will catch the customer’s attention. • The purple walls will make for a relaxing atmosphere and the track lighting along with chandeliers will bring the customer into a whole new world. • Hit music played on the radio will softly play in the background. The fitting rooms are white and have a sliding door that goes along with the modernists of the store. • The merchandise is displayed on glass display cases as well as glass tables.
Goal Setting Sheet
Selling Programs • Pay raise for employees who keep going above target goals • Growing within the company
Leadership Style
Manager (1) Assistant Manager (1) Sales Associates (2)
• Management will help direct and coach sales associates • Allow input from all employees • Everyone will respect each other • At least one manager of assistant manager plus three sales associates will be working at all times
Marketing and Advertising Calendar
Human Resources • Ethics • We have a high regard for honesty, integrity, and trustworthiness is each of our employees • We treat everyone with respect and have the best interest of our clients • We seek these qualities in our team members • Hourly Rates • Hourly Rates • Managers: $30 an hour • Assistant Manager: $20 an hour • Sales Associate: $10 an hour • Discounts • 30% discounts on all merchandise will be given to managers • 20% discounts on all merchandise will be given to sales associates
Training
• Managers will describe: • Company history and policies • How to take action on thefts and inventory shortages • How to carry out specific tasks correctly • Update staff about new sales and promotions • Other associates working on the floor will: • Train new members about customer service etiquette • How to ring up customers • Receive returns • Restock Inventory • Redesign window displays • Wrap Products
Employee Manuals
• All employees will be given employee manuals. It will explain detailed descriptions of: • Safety procedures • Payroll • Dress codes • Customer service duties • Company’s HR and standard policies • Must be signed and returned to the manager, this will signify that each staff member recognizes the regulations of our company
Schedule Sheet
Financials
Monthly Sales Dollar Plan
Sales Plan by Month and Percentage
Sales Plan by Category/Class
Operations
• Business Hours of Operation: • Monday-‐Friday 10 am to 5 pm • Saturday-‐Sunday 12 pm to 6 pm • Loss Prevention and Security: • Install a security system • Put expensive jewelry in a safe • Check inventory every two weeks • Only managers will be allowed to check out sale’s associates purchases and returns • Employees are aware of the rules and regulations
Service Levels
Services that will help our customers include: • Merchandise will be held only for 24 hours • Returns on merchandise and orders that have not exceeded over 30 days and have not been worn, unwashed, and is not defective • Free alternations on any merchandise