Womenswear Range Plan A/W 19/20
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Contents
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1. Brand Analysis 1.1 Brand Board 1.2 Marketing Mix 1.3 Marketing Mix Summary 1.4 Financial Performance 1.5 Brand Positioning 1.6 Competitor Analysis 1.7 Consumer Analysis 1.8 Consumer Survey
7-17 8 9 10 11 12-13 14 15-16 17
2. Market Analysis 2.1 PESTEL Analysis 2.2 SWOT and TOWS Matrix 2.3 SAFe Analysis
19-23 20 20-21 22-23
3. Strategic Brand Development 3.1 Ansoff Matrix 3.2 Retail Strategy - merchandise assortment/market options 3.3 Optimum strategic output 3.4 Resource Based View Model 3.5 Porters 5 Forces 3.6 SMART Target
25-33 26 27 28 29-30 31-32 33
4. Strategic Portfolio 4.1 Trend Analysis 4.2 Key Colours, Materials and Patterns 4.3 Key Silhouettes 4.4 Edited Comparative Shop 4.5 Product Comparative Shop 4.6 Directional Shop 4.7 Trend Translation 4.8 Phase One 4.9 Phase Two 4.9.1 Range Classification
35-53 36-37 38 39 40 41-43 44-45 46-47 48-49 50-51 52-53
5. Technical Development 5.1 Working Drawing 5.2 Stitch Bible 5.3 Measurement Specification 5.4 Lay Plan 5.5 Testing 5.6 Sourcing 5.7 Financial Costing
55-65 56 57 58-59 60 61 62 63-65
6. Merchandising Strategy 6.1 Allocation and Distribution 6.2 WISSI
66-69 66-69 69
7. Strategic Rationale 7.1 Range Rationale 7.2 Purpose 7.3 Fashionability 7.4 Fabrics 7.5 Care Instructions 7.6 Colour and Print 7.7 Styling 7.8 Assortment 7.9 Product Classification
70-77 72-74 72 72 72 72-73 73 73 73 74
8. Technical Rationale 7.1 Sourcing 7.2 Testing 7.3 Costing 9. Merchandising Rationale 9.1 Launch, Allocation and Distribution 9.2 WISSI 10. Conclusion 11. Appendix 12. References
75 75 75 75 76-77 76 77 78 81-93 94-101
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Figures and Appendix
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35.
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Brand Board KG’s Marketing Mix KG’s Private Label Logos Market Share for top 20 retailers of footwear 2014-18 (Baram, 2019) Consumers attitude towards footwear retailers (Baram, 2019) Perceptual Map for KG’s new market positioning Competitors Marketing Mix Analysis Consumer Typologies (Jackson and Shaw, 2009) Rodgers (1962) Diffusion of Innovation Model (Gumbo and Dube, 2017) Pen Portrait Consumer Board How consumers perceive KG KG’s perceived fashionability in relation to current competitors KG’s perceived quality in relation to current competitors Consumers willingness to purchase a clothing range from KG SWOT Analysis TOWS Matrix (Weihirich, 1982) SAFe analysis summary SAFe analysis for S3 + T3 SAFe analysis for W2 + T2 SAFe analysis for W1 + 05 SAFe analysis for W4 + T1 Ansoffs Matrix (Ansoff, 1957) Retail Strategy - merchandise assortment/market options (Varley and Rafiq, 2014) Resource Based View (RBV) Model (Grant, 1991) Porters 5 Forces (Porter, 1985) SMART Target Table Trend board Key colours and textiles Key silhouettes Reiss Edited information Karen Milen Edited information Whistles Edited information The Roll Neck Jumper The Updated Shirt
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36. 37. 38. 39. 40. 41. 42. 43 44. 45. 46. 47. 48. 49. 50. 51. 52. 53. 54. 55. 56. 57. 58.
The Slim Leg Tailored Trousers The Leather A-line Skirt Product Comparative Shop Summary Directional Shop Trend Translation Phase One Phase Two Phase one classification Phase two classification Working Drawing Stitch Bible Measurement Specification Lay Plan Lay Plan Details Testing Specific Materials for sourcing Financial Costing Seasonal Drop Schedule Store Classification Store Grades Size Distribution; average allocation of one style for a flag ship store, 24 units Quantities based on product classification and store grade WISSI
Appendix A. Brand Board Support B. The PESTEL Analysis C. Edited Research on KG D. Silhouette Development E. Launch Date F. Heat Map Analysis; retailers reactions
42 42 43 44-45 46-47 48-49 50-51 52 53 56 57 58-59 60 60 61 62 64-65 68 68 68 68 69 69
82-85 86-88 89 90-91 92 92-93
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Brand Analysis
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1.1 Brand Board
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Figure 1 Brand Board see appendix A for support:
1.2 Marketing Mix Kurt Geiger (KG) is a multi-branded footwear and accessories British designer company that was established in 1963, their unique market position pairs aspiration and accessibility (Kurt Geiger, 2019). In 2015 KG was sold from Sycamore to a European private equity group called Civen who target companies with growth orientated investments (Civen, 2019). An overview of KG’s Marketing Mix shown in figure 2 highlights how the company is currently operating. Figure 2 KG’s Marketing Mix:
Product • Original focus; Womens and Mens footwear • Launched Kids collection in 2015 (Tod, 2015) • Launched Accessories in 2015 (Milligan, 2011) • Exculsive, high quality products (Baram, 2018a) • Variety of private labels, each have a distinctive product creation; KG London is sophistocated with cutting egde material and Italian craftsmanship. KG Kurt Geiger represents Londons-cool style. Carvela has a unique signature style of sophistocation. Miss KG has fashion essentials at accessible price points (Kurt Geiger, 2019) • Sells 30+ third party branded products for women, men and kids such as Michael Kors, Ugg, Ralph Lauren etc. (Baram, 2018a) • Newest brand added is Aldo; KG have recently taken over their management (Sheppard, 2018) • Exculsive swimwear collections introduced in 2017 (Baram, 2018a) Place • Operate through 60 KG stores and 200 online and offline concession stores (Drapers, 2018) • Own global e-commerce website • Closed 14 concessions in 2018 (Baram, 2018b) • Have operated in well known, prestigious department stores; Harrods, Selfridges etc. for over 25 years (Kurt Geiger, 2019) • Partnerships with leading international brands such as Topshop (Kurt Geiger, 2019) • Opened their first concept store within John Lewis; ‘The Shoe Room’ (Sheppard, 2018) • Handbag only concession in Selfridges London (Sender, 2015) • Discount website shoeaholics.com sells old stock and slow moving lines (Sender, 2011) • Expanding across North America and Europe (Kurt Geiger, 2019) • No Mobile Shopping App
Price • Average price of all products; £ 112.89 (Edited, 2019) • Carvela, KG London and KG Kurt Geiger offer high price points however Miss KG offers lower price points, which changes the image of it being to expensive (Baram, 2018a) • Carvela; £7.28-£187,795.71, average price is £316.87 (Edited, 2019a) • KG London; £11.95-508.71, average price is £117.21 (Edited, 2019j) • KG Kurt Geiger; £6.77-£285.53, average price of £285.53 (Edited, 2019t) • Miss KG; £9.00-£134.40, average price of £50.91 (Edited, 2019r) • Shoeaholics.com discount website offers all discounted products raging from £9.00£314.00 (Sender, 2011) • Accessories prices range from £8.00-£450 (Milligan, 2011) • Free delivery and returns online and in-store
Promotion • Regular seasonal sales present on website within the ‘sale’ section, and for a minimum amount of time in store • Have social media accounts that have minimum updates thus their own blog on their website • Worldwide celebrity following (Kurt Geiger, 2019) • No student discount offered Campaigns; • ‘Everything but the dress’ with Anja Ruby-fronted advertising campaign. Due to success they still stand by this slogan (Milligan, 2011) • KG’s famous faces campaign features celebrities such as Zandra Rhodes and Dame Joan Collins etc. to celebrate strong characters and style, it coincides with KG’s plans for global expansion (Brown, 2018b).
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1.3 Marketing Mix Summary Product KG are recognised for their stylish footwear and accessories that are perceived as exclusive with high quality for women, men and children (Baram, 2018a). They have four different private labels that are applied to their womens, mens and childrens category; they adjusted operations in terms of pricing, quality, design and merchandise in relation to customer and market developments which helped differentiate them from the market and grow (McColl and Moore, 2011). Additionally, KG have 30+ third party brands present, they show market development by venturing into the children’s category and they show product development by introducing swimwear (Ansoff, 1958), this concludes a strong product positioning and growth. Price KG show a diffusion of prices across their four private labels; price points range from affordable to premium (see figure 1) which allows them to target a broad spectrum of consumers. This variety of price points plus their presence on shoeaholics, the discount website encourages consumers not to perceive KG as too expensive thus it gives them a consistent average price with high street competitors, £117.21 (Edited, 2019j). Place KG have substantial sale channels; they operate through 60 KG stores, their own global e-commerce website thus, 200 online and offline department store concessions of leading international brands, global websites and prestigious department stores. KG are also continuing to expand throughout North America and Europe therefore, KG have increased brand awareness however they do not have a mobile shopping app which they could consider to further increase engagement and sales. Promotion KG advertise through social media accounts, their own blog and campaigns, yet they have not introduced any student discounts. Their activity on social media is more regular than their blog and campaigns but KG can afford to minimise their promotions as they have a celebrity clientele- Kendal Jenner, Hailey Baldwin, Lottie Moss etc. (Kurt Geiger, 2019). KG have regular seasonal sales to sell overstock while unwanted/slower moving stock is allocated to shoeaholics, the discount website. This shows a successful inventory flow as there are no continuous sales throughout the year which encourages consumers to purchase products at full price (Jackson and Shaw, 2001). Figure 2 KG’s Private Label Logos:
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1.4 Financial Performance Global Data analysists estimate a revenue growth of 4.2%; operating profits rose to £24.6m, generating an operating margin of 7.6%, this highlights KG outperformed the footwear market in 2018 (Clark, 2018). This left them with a market share of 3.1%, while sports retailers gained the rest (Baram, 2019). Additionally, in 2017 group revenue rose 12% to £330m with like for like sales growth of 11% (Man, 2017). KG’s market share shows a steady increase YoY from 2014, however in 2017 it decreased by 3% due to the demand for trainers in relation to the athleisure trend (see figure 2), but despite this KG received a 48% growth in sales from women’s fashion trainers (Baram, 2018b). High street retailers such as Topshop and Zara have also been giving footwear specialists a run for their money, but still lag behind on service (Sender, 2017). This shows despite KG being up against strong figures and increased competition they are still able to adapt to the market and generate rewarding financial performance and growth YoY, which is an indicator of success (Shaw and Koumbis, 2014). Figure 4 Market Share for top 20 retailers of footwear 2014-18 (Baram, 2019)
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1.5 Brand Positioning Baram from Mintel (2018a) analysed KG in relation to their current competitors (see figure 5). The report concluded that KG is perceived as exclusive with high quality, which makes it worth paying more for. It was also identified as the most stylish, aspirational and cutting-edge brand in comparison to competitors. Figure 5 Consumers attitude towards footwear retailers (Baram, 2018a)
This positions KG as a premium brand with high quality and high fashionability therefore their new positioning within the perceptual map depicts this (see figure 6), this ensure their core competences are consistent within the new womenswear range plan. The closest competitors identified within their new strategic group are; Karen Millen, Reiss and Whistles. Aspirational brands of higher price and high street competitors of lower price are also present as consumers consider these as substitutes therefore, it is important not to eliminate these to create a precise idea of how the consumers positions the brand (Easey, 2002).
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Figure 6 Perceptual Map for KG’s new market positioning:
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1.6 Competitor Analysis Figure 7 Competitors Marketing Mix Analysis:
4 P’s Product
• Women, Clothing, Occasional-wear, Wedding, Footwear, Accessories
• Women, Men, Clothing, Occasional-wear, Shoes and Accessories
• Women, Clothing, Occasional-wear, Wedding, Shoes and Accessories
Price
• Premium 50.8% • Mass 43.3% • Luxury 5.9% (Edited, 2019u)
• Mass 45.7% • Premium 34.6% • Luxury 19.6% (Edited, 2019u)
• Mass 71.1% • Premium 27.8% • Luxury 1.0% (Edited, 2019u)
Place
• 84 own stores and 46 concessions in the UK and Ireland • Internationally 16 owned stores 57 franchise stores in 23 countries • Flagship stores in London and New York (Karen Millen, 2019) • Social Media • Website • Mobile Shopping App • Newsletters • Concessions in prestigious department stores • Discounts codes online • Student discount • Discount in-store
• 160 stores in 15 coun- • 46 stores across the tries, 9 concessions UK and 6 concessions stores included across within the UK the UK and airport • Flagship stores in Lonterminals don • Flagship stores in Lon- (Whistles, 2019) don, Manchester and New York (Reiss, 2019)
Promotion
• • • • • • • • •
Website Celebrity following Newsletters Social Media Concessions Own Blog Discount codes online Discounts in store Magazines such as vouge • Affiliates • Awards
• • • • • • • • •
Website Newsletters Online advertisement Social Media Discounts codes online Discounts in store Blogger collaborations Influencers
All three competitors have similar product offerings that are complementary to each other thus all competitors include a form of party-occasional wear. Thus, Karen Millen is seeking to expand into a lifestyle brand by adding swimwear, athleisure, luggage and gift lines (Sender, 2018b). All three competitors do not indulge in value price points therefore they are aligned with KG’s current offering and the higher priced mass market. In relation to stores, Karen Millen and Reiss have a higher majority over whistles therefore they will have higher brand awareness with consumers however this makes whistles more exclusive to the UK market (Jackson and Shaw, 2009). The three competitors’ market with similar promotions that are not so frequent; Reiss cut back on its discounting and found an 8.3% increase in profits (Mintel, 2019). The three competitors are receiving strong sales profits and growth (Sender, 2018a), this highlights an attractive market for KG to expand into, however there is the threat of these competitors and their learning curve.
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1.7 Consumer Analysis KG consumers are targeted by lifestyle rather age as they have a global customer base thus their variety of private label brands allows them to diffuse their products across a broader market in terms of high and average disposable income (McColl and Moore, 2011). Thus, as they target women, men and children, they also appeal to individuals and families. The global consumers preferences consist of trend driven, exclusive, high quality products (Baram, 2018a) however Easey, 2002 states consumer preferences differ in relation to age therefore to truly satisfy your target market you need a precise age direction. Baram (2018a) implies KG is most popular amongst females aged 16-24 however even though it has high awareness with this demographic, it has low usage due to its higher price points. Therefore, the new target market has been condensed to females aged 25-34, this is supported by the PESTEL analysis (see appendix B) which proposes these females as the most confident and keen shoppers with an increased interest in premium brands. Baram (2018a) also confirms that KG London is the most popular label at KG that generates increased sales and profits. The brand and consumer analysis determine 6 specific consumer typologies (see figure 8) which positions the brand and consumers at the early stages of Rodgers (1962) diffusion of innovation model (see figure 9). Figure 8 Consumer Typologies (Jackson and Shaw, 2009):
Big Spenders Label Seekers
I spend a lot on clothes A designer label improves a persons image
Stylish
I have a very good sense of style
Fashion Conscious
I like to keep up with the latest fashion trends
Well Dressed
It is important for me to look well dressed
Individualist
I like exculsive things as i like to stand out from the crowd
Figure 9 Rodgers (1962) Diffusion of Innovation Model (Gumbo and Dube, 2017):
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Figure 10 Pen Portrait:
This is Scarlet, a 27 year old well experienced Fashion Buyer living in a house in London with her boyfriend and no children. Scarlet earns an average pay of ÂŁ45,000 a year. She is very feminine and thinks it is important to dress stylish and sophisticated, at work and when she is going out with her friends. She is very busy due to her work like thus she likes to go out and socialise with her friends and boyfriend, therefore she likes clothing that can be convenient for both occasions. She likes clothing to last more than one reason therefore she purchases based on quality and style rather price. Figure 11 Consumer Board:
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1.8 Consumer Survey The consumer survey supports the identified market positioning of KG (see figure 5 and 6). Figure 12 How consumers percieve KG:
The majority of consumers perceive KG as trend driven with high quality, a luxury and sophisticated feel.
Figure 13 KG’s perceived fashionability in relation to current competitors:
Consumers position KG the most fashionable compared to their current competitors.
Figure 14 KG’s perceived quality in relation to current competitors:
Consumers position KG with a higher quality than most competitors, but sitll in line with Schuh.
Figure 15 Consumers willingness to purchase a clothing range from KG:
Consumers suggest a clothing line would be successful as they show the willingness to purchase but it must ensure it consist of a key core competence; fashionable.
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Market Analysis
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2.1 PESTEL Analysis The PESTEL analysis (see appendix B) shows the current macro-environmental factors which relate to KG and identifies possible opportunities and threats which should be considered to allow an optimum strategic development (Johnson and Scholes, 2002). The main opportunities are the rise of female shoppers aged 25-35 as consumers, the increased interest in premium, high quality brands thus the increase in consumers spending on clothes. Since KG already have a premium appeal to this demographic, they can expand upon this further within their new strategy. Sustainability is also an opportunity however KG do not participate in any sustainability efforts therefore this could also be perceived as a threat as it can be too costly to apply to global supply chains (Gardetti and Torres, 2013). The alternative key threats are the economic and political uncertainty resulting from Brexit thus consumers switching to mobile shopping apps for spending.
2.2 SWOT and TOWS MATRIX
Figure 16 KG’s SWOT Analysis:
S
1. No specific target market 2. No mobile shopping app 3. Minimum efforts in promoting and advertising 4. No sustainability efforts created or implemented
1. Expand their product categories i.e. clothing etc. 2. India is currently the fastest growing economy (Brown, 2019b) 3. Premium brands are in a prime position to thrive (Dover, 2018c) 4. Social media, bloggers and influencers are more effective than traditional marketing 5. Older Millennials and Xennials are confident about their finances (Shepherd, 2019) 6. Demand for high quality is increasing (Dover, 2018c) 7. Artificial intelligence 8. Sustainability innovations
1. Increased external stakeholder pressure for sustainability efforts (Brown, 2018a) 2. Mobile shopping apps are leading consumer spending (McGregor, 2019) 3. Mid-market department stores are losing their market share while premium are increasing (Dover, 2018c) 4. Volatile exchange rates (Mustoe, 2019) 3. Uncertainty in trade agreements (Fish, 2019a)
O
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W
1. Well established brand with increasing sales YoY (Clark, 2018) 2. Operate through 60 KG stores, own global e-commerce thus, 200 online and offline concession stores (Drapers, 2018) 3. Exclusive with high quality that is worth paying more for (Baram, 2018a) 4. Celebrity Clientele (Kurt Geiger, 2019) 5. Partnerships with leading global and international brands and prestigious department stores (Kurt Geiger, 2018) 6. Product differentiation strategy 7. Design all products inhouse from the bottom up in their headquarters like luxury design teams (Haliday, 2018)
T
Figure 17 TOWS Matrix (Weihirich, 1982):
Strengths 1. Well established brand with increasing sales YoY (Clark, 2018) 2. Operate through 60 KG stores, own global e-commerce thus, 200 online and offline concession stores (Drapers, 2018) 3. Exclusive with high quality that is worth paying more for (Baram, 2018a) 4. Celebrity Clientele (Kurt Geiger, 2019) 5. Partnerships with leading global and international brands and prestigious department stores (Kurt Geiger, 2018) 6. Product differentiation strategy 7. Design all products inhouse from the bottom up in their headquarters like luxury design teams (Haliday, 2018) Opportunities • S1 + S1 = create a womenswear 1. Expand their product cateclothing line gories i.e. clothing etc. • S2 + S2 = expand into the Indonesia 2. India is currently the fastest market, open more stores and congrowing economy (Brown, cessions 2019b) • S3 + T3 = Create a high quality, 3. Premium brands are in a exclusive women’s clothing line for a prime position to thrive (Dopremium label ver, 2018c) • S4 + S4 = Use existing celebrity 4. Social media, bloggers and as influencers to promote products influencers are more effective through their social media and/or than traditional marketing blogs 5. Older Millennials and Xennials are confident about their finances (Shepherd, 2019) 6. Demand for high quality is increasing (Dover, 2018c) 7. Artificial intelligence 8. Sustainability innovations Threats • S1 + T5 = maintain close relation1. Increased external stakeships with suppliers for contingency holder pressure for sustainaplanning i.e. increasing stock, alterbility efforts (Brown, 2018a) natives for logistics/transit and nego2. Mobile shopping apps are tiating a fair deal for increased costs leading consumer spending • S6 + T1 = increase product differ(McGregor, 2019) entiation with innovative sustainable 3. Mid-market department materials i.e. recycled fibres, vegan stores are losing their marleather etc. ket share while premium are • S3 + T3 = create an exclusive increasing (Dover, 2018c) high-quality womenswear clothing 4. Volatile exchange rates line for premium department stores (Mustoe, 2019) i.e. a capsule collection 3. Uncertainty in trade agree- • S7 + T4 = make supply chain inments (Fish, 2019a) house within the UK, this would reduce costs, allow a more frequent turnaround of products which could counter balance the increased costs from the volatile exchange rates
Weaknesses 1. No specific target market 2. No mobile shopping app 3. Minimum efforts in promoting and advertising 4. No sustainability efforts created or implemented
• W1 + O5 = focus on targeting older consumers like Millennials and Xennials needs and preferences • W2 + O6 = use AI to develop an app that is personalised to the consumer • W3 + O4 = use social media, bloggers and influencers to promote and market products • W4 + O6 = capitalise on quality with sustainable natural fibres
• W1 + T3 = for new product lines focus on premium labels for prestigious department stores and the customers relative to these labels • W2 + T2 = create a mobile shopping app • W3 + T4 = Market campaign promoting core competences; high quality, exclusive and fashionable to help justify and prepare for an increase in price • W4 + T1 = create and integrate a sustainability framework within the whole supply chain i.e. code of conduct, audits etc. thus make this transparent to stakeholders 21
2.3 SAFe Analysis From the TOWS matrix (see figure 17) and the research done throughout this report the main areas for strategic growth are• Create a high-quality exclusive clothing line for a premium label • Create a mobile shopping app • Focus on a target market of older millennials and/or Xennials • Create and integrate a sustainability framework The SAFe Model is used to analyse the suitability, acceptability and feasibility of these strategic directions (Johnson, Scholes and Whittington, 2011); Figure 18 KG’s SAFe analysis summary:
S3 + S3 W2 + T2 W1 + O5 W4 + T1
Suitable? Yes Yes Yes Yes
Acceptable? Yes Yes Yes Yes and No
Feasible? Yes and No Yes Yes Yes
Figure 19 KG’s SAFe analysis for S3 + T3:
S3 + T3 Suitable?
Acceptable?
Feasible?
A clothing line is complementary to KG’s current offering; accessories and footwear, therefore it is relative and suitable for current consumers and KG. KG also already have a premium label therefore they would just be capitalising on this. The PESTEL analysis suggest clothing is the largest retail spending sector, after food, also it highlights the successful growth of premium retailers therefore, this option reflect the market well and is relevant to consumers. KG’s supply chain is feasible for footwear and accessories however as identified in figure 4 they experience growth YoY and have the financial stability to develop this option. Thus, they already have the knowledge for premium branding.
Figure 20 KG’s SAFe analysis for W2 +T2:
W2 + T2 Suitable? Acceptable? Feasible?
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The PESTEL analysis states mobile shopping apps are taking a high percentage of consumer spending; therefore, KG are missing out on sales and engagement. Consumers mobile usage is increasing therefore consumers will accept this option; thus, a mobile shopping app is another sales channel, therefore it can also be used as marketing platform. KG already have an inventory management soft wear therefore they have a feasible supply chain thus they have the financial stability to do so.
Figure 21 KG’s SAFe analysis for W1 + O5:
W1 + O5 Suitable? Acceptable? Feasible?
KG already target this demographic therefore they will already have consumer insights and brand loyalty. The PESTEL analysis shows this demographic has the highest interest in premium brands and highest financial confidence. Already have resources and the relevant demographic following in place, only need to put more focus on this demographic when introducing their next new product lines.
Figure 22 KG’s SAFe analysis for W4 + T1:
W4 + T1 Suitable? Acceptable?
Feasible?
The PESTEL analysis shows KG have been called out by MPs to implement and report this sustainability efforts. The PESTEL analysis highlights external pressure from stakeholders therefore consumers are ready to accept these changes however sustainability usually consists of an increase in price which consumers may not be willing to pay (Gardetti and Torres, 2013). Currently have no sustainability framework in place therefore it would be costly in terms of monetary and time to implement.
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Strategic Brand Development
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3.1 Ansoffs Matrix Figure 23 Ansoff’s Matrix (Ansoff, 1957):
Merchandise assortment
New Markets
Customer Markets Existing Markets
Existing assortment Market Penetration • Increase quality control • Improve social media • Endorsement from bloggers and influencers of existing ranges to encourage sales • Producing some products within the UK to avoid tariffs and exchange rates • Make an app to have another channel of sales • Use AI for better consumer data, to help improve marketing • Offer student discount to promote sales • Expansion of flagship stores in capital cities i.e. Scotland and Northern Ireland Market Development • Expand into other countries such as India, while considering the appropriateness of current products for the markets • Expand presence in department stores that are appropriate to the brand i.e. Tessuti • Introducing products for teens with existing products in applicable and appropriate sizes
New assortment Product Development • Womenswear clothing line • Menswear clothing line • Children’s clothing line • Bridal clothing line • Nightwear • Lingerie • Develop a product especially for celebrity endorsement, thus launch an event to promote this
Diversification • Plus size clothing line • Beauty products • Unisex clothing line • Home-wear line • Watch collection • Collaborations with other brands • Catwalk events • Sustainable line
The Ansoff Matrix is a tool that considers alternative product market growth strategies and their associated risks (see figure 23) (Ansoff, 1958). Market Penetration involves the lowest risk, but it is difficult to penetrate a mature market, especially in a red ocean (Kim and Mauborgne, 2005). KG have already explored market development as they have a global website and are currently expanding across North America and Europe making this a less important direction. Diversification includes a new unexplored market where there are higher elements of risk (Ansoff, 1957). All of which aids the strategic direction of product development. However, Varley and Rafiq (2014) (see figure 24) suggest this categorisation of options involves considerable risks as they leap to new market segments or from existing to new assortments. Therefore, their merchandise assortment/ market options grid expands on Ansoff’s Matrix (1957) with a more realistic categorisation of retailing strategies suitable for KG.
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3.2 Retail Strategy - merchandise assortment/market options Figure 24 Retail Strategy - merchandise assortment/market options (Varley and Rafiq, 2014):
New
Related
Customer Markets
Current
Current Consolidation • Increase quality control • Improve social media • Endorsements from bloggers and influencers • Make a mobile shopping App • Produce some products within the UK • Student discount • Use AI for better consumer data, to help improve marketing • Catwalk events Market Development • Expand presence in department stores that are appropriate to the brand i.e. Tessuti • Expansion of flagship stores in capital cities i.e. Scotland and Northern Ireland
Merchandise assortment Related
New
Product/Range Extension • Womenswear clothing line • Menswear clothing line • Children’s clothing line • Occasional-wear • Watch collection
Product/Range Development • Lingerie • Nightwear • Plus size clothing line • Develop a product especially for celebrity endorsement, thus launch an event to promote this
Market Extension • Introducing products for teens with existing products in applicable and appropriate sizes • Collaborations with other brands
Diversification • Beauty products • Unisex clothing line • Home-wear line • Sustainable line
Internationalisation • Overseas expansion using current format; expand into India with current merchandise • Overseas expansion using new format; expand into India with new products suitable to their culture and climate KG can therefore use an intermediate strategy; extend market coverage by targeting closely related segments before targeting more difficult segments, and segments unrelated to the current ones (Varley and Rafiq, 2014). KG should focus on growth within their current target markets with new merchandise assortment; a range extension strategy. This would mean considering the addition of a new product line that relative to their current offering would be seen as a complementary purchase for consumers, like clothing. In-conjunction with the PESTEL and TOWS analysis, the clothing range extension should be applicable to a premium label for older Millennials and/or Xennials. This would be an intermediate strategy with low risk as KG can capitalise on their core competences for an already existing market to remain competitive (Ansoff, 1957 and Varley and Rafiq, 2014).
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3.3 Optimum Strategic Output In relation to the research throughout the report, the optimum strategic direction for KG is to create a womenswear clothing line for a premium label, KG London, targeted at older millennials. Mintel’s analysist Report by Dover (2018a) states new product categories fuel growth as it boosts retailers’ credentials as lifestyle retailers, which consumers have a greater affinity with. The report also found that 53% of UK consumers like their retailers to offer a wide variety of products. As we are in a time where brand loyalty is low, this highlights that the addition of a new clothing line for KG could encourage more frequent purchases and increased brand loyalty. This is supported by Kamakura (2008) and Ngobo (2004), they state retailers who offer complementary products optimise their chance of cross selling and upselling. Cross selling and upselling additional products or product lines to existing customers also has benefits; increased brand loyalty, longer-term relationships as customers are more satisfied thus, increased sale revenues (Kamakura, 2008, Ngobo, 2004 and Mäenpää, 2012). Additionally, Harmancioglu (2009) suggests when consumers are presented with complementary products, they are more likely to participate in impulse buying. Therefore, this is a profitable option for KG that can benefit them and their customers.
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3.4 Resource Based View Model Figure 25 Resource Based View (RBV) Model (Grant, 1991):
1. Financial
Physical
2. Technological Innovation and Creativity Reputation
Human
3.
4.
5.
6.
Resources: Tangible • 2018: 4.2% revenue growth, operating profits were up 11.8% to £24.6m, generating an operating margin of 7.6% versus 6.5% last year (Clark, 2018). • 2018: Growth was more than 4% which is better than the UK market overall (Clark, 2018). • 2017: Increase in sales and profit; group revenue rose to 12% to £330 with like for like sales growth of 11% (Man, 2017). • Operate through 60 stores and 200 department store concessions world wide (Drapers, 2018) • Recently taken over Aldo stores in a 5 year plan (Sheppard, 2018) Resources: Intangible • Own global e-commerce website and e-commerce concession sites (Kurt Geiger, 2019) • Currently use Manhattan omni-channel platform for distribution and logistics (Jahshan, 2017) • In 2015 KG created an in-store app with Magento an e-commerce management softwear which gives associates more information and an extended selling range (Baldwin, 2018) • Strong heritage; since 1963 (Kurt Geiger, 2019) • Percieved as most stylish, aspirational and cutting edge brand compared to competitors (Baram, 2018a) • High quality and stylish (Baram, 2018a) • High celebrity following; Kendal Jenner, Hailey Baldwin etc. (Kurt Geiger, 2019) • No.1 premium footwear brand in the UK (Kurt Geiger, 2018) • Buying and designer teams are effective; respond to trends effectivley as product is the main driver of the buisness (Haliday, 2018) • Headquarters in London employs approx. 1,700 people (Civen, 2017) • Staff trained with a core focus on customer service (Civen, 2017) • Managers, buyers, designers and creative directors and suppliers work together in the product development process (Haliday, 2018) Organisational capabilities • All products are designed in-house; bottom up designing like high luxury brands do but outsource production (Haliday, 2018) • Effective supply chain, distribution and logistics; enterprise order management and warehouse management by Manhattan omni channel platform used to accelerate goods flow and cut delivery lead times (Jahshan, 2017) • Have integrated technological system throughout whole supply chain for communication (Jahshan, 2017) • Distinctive customer service in store thus, click and collect, delivery and returns service Competitive Advantage • Core competences; high quality, exclusive, fashionable • Differentiation Strategy; target a broad market with variety of prices (Porter, 1985) • Product Leadership; vigorous innovation and superior quality (Treacy and Wiersema, 1993) Strategy • Womenswear clothing range for KG London • Product development; new products for existing markets (Ansoff, 1987 and Pleshko and Heiens, 2008) • Range extension; new products for existing markets that complement the current product offering (Varley and Rafiq, 2014) Resource Gap 29 • See the following discussion
The RBV model (see figure 25) focuses on internal resources and capabilities to determine how effective a company is performing while encouraging a strategic fit between these internal resources and capabilities and the opportunities within the external environment (Grant, 1991). The analysis concludes that KG would be capitalising on their strengths as they already have the reputation and core competences/competitive advantage to focus and expand on one of their premium labels. They also have many different channels to sell through however all may not be applicable as countries differ in culture and climate which can affect clothing purchases (Goworek, 2007) therefore it would be less risky to have availability in local stores rather a global website. Their staff and supply chain are effective however both are only feasible for their current offeringsaccessories and footwear, therefore they will need new staff to assist the decision process such as new buyers, designers and creative directors. They currently design inhouse and outsource production, which is suitable for a premium label however they will need to source new suppliers and manufactures. As for their logistics team and distribution system, they will need additional staff to handle the clothing line. All of which can be seen as costly, but KG are growing in sales and profits YoY thus, they have growth investments from Civen which ensures they have the financial stability to apply this strategy. Other considerations include in-store staff and the turnaround of products. Consumers will expect increased customer intimacy due to the higher price points therefore training staff as personal stylists would be appropriate. Thus, as the range will be premium using a frequent turnaround of stock, like fast fashion retailers may decrease the exclusive, high quality appeal. Phases should therefore be limited to a season. Besides the gap between the current product offering and the new clothing line, the EPOS system- KPIS and best sellers can be a successful source of help.
30
3.5 Porters 5 Forces Figure 26 Porters 5 Forces (Porter, 1985):
Threat of New Entrants Barriers to entry prevent start-up companies from entering the market (Hill and Jones, 2002). KG are a heritage brand therefore they have evolved with strong brand loyalty and an increased learning curve advantage. This also results to strong buyer and supplier relationships, creating an economies of scale leverage. They also have a substantial position within the market as they have their own stores, strong partnerships with prestigious department stores and a variety of concessions online and offline which would consist of high capital investment. Additionally, KG follow a differentiation strategy and offer a variety of prices; their unique innovative designs and broad market appeal helps create an advantage. KG therefore have a strong capability to withstand new entrants if they stay competitive. Bargaining Power of Suppliers KG are strong against suppliers as they have had a lengthy working period with them. They also outsource to developed and developing countries therefore they have a variety of substitutes. Thus, as they are a corporate established brand that grows YoY, they consist of continuous large orders which suppliers are reliant on, especially in developing countries where costs are low.
Competitive Rivalry There are a lot of competitors within the market and consumers are faced with low switching costs resulting in high rivalry however KG is an established brand that follows product differentiation which should be used to their best advantage.
Threat of Substitutes There is a high threat of substitute products due to increasing competition. Products can be substituted for higher, lower or the same priced items. Thus, online retailers form global competition that can accommodate more options and convenience for consumers. This leaves KG vulnerable however their ‘designer high quality products’, strong heritage and differentiation strategy can be used to individualize products from substitutes.
Bargaining Power of Customers There is a high majority of alternative/substitute products in the market however KG are an established brand therefore they have reliable customer insights and customer service to target customers’ needs and preferences precisely. However, consumers are less loyal, especially barging hunters. Less pricey substitutes could therefore be a threat resulting in moderate power over consumers.
31
Precise knowledge development from Porters Five Forces will allow KG to establish what forces the company can use to achieve differentiation and sustain a competitive advantage within a red ocean; saturated market (see figure 16) (Porter, 1979). KG is strong against the threat of new entrants due to the identified strengths however new competition could still deter customers away from KG, especially if they are perceived as more valuable. KG’s buying power over suppliers is high as they can dictate who to work with, whereas their power over consumers is moderate. This is relative to the increased threat of substitutes that leaves KG vulnerable. In conclusion KG have a majority of control however their rivalry is competitive which means they will be fighting for market share therefore they need to ensure they capitalise on their identified strengths.
32
3.6 SMART Target Figure 27 SMART Target Table:
Specific
Measurable
Achievable
Realistic
Time Scale
• Create a womenswear clothing line for a premium label; KG London targeting older Millennials (25-35). • Range will secure sales from older Millennials and also Xennials as they are most interested in premium brands however may also appeal to wider range of customers who KG currently target by lifestyle as their core competences will be consistent. • 85% of the range will be bought by older Millennials as the range will aim to increase their satisfaction with the brand, especially by focusing on a premium label such as KG London. • The women’s category sales will increase by 15% by the end of the fiscal year. • Older millennials are already apart of KG’s target audience therefore they have increased customer insights they can use. • KG already have a premium label focus; KG London is the most popular therefore consumers will be more aware of this brand (Kurt Geiger, 2019) • KG will need new resources, suppliers and a percentage of staff as their current focus is on footwear and accessories not clothing. • Use previous sales figures and the brands signature style to help inform the new range. • The range will be promoted through a new PR campaign, look books and their social media platform. • KG’s sales and profit is increasing YoY. • Core competences; high quality, exclusive and fashionable, this value proposition on a global scale is in-line with the expectations of premium retailers • Well established brand since 1963, already have brand loyalty. • Investments by Civen, allow them to grow with costs covered. • The range will be dropped for A/W 19/20; 18th August. • There will be two phases in each season to keep the appeal ‘exclusive and premium’ thus to ensure consumers can distinguish the collection away from fast fashion with high quality and longer life cycles.
33
34
Strategic Portfolio
35
Figure 28 Trend Board:
36
37
Figure 29 Key Colours and Textiles:
38
Figure 30 Key Silhouettes:
39
4.4 Edited Comparative Shop Figure 31 Reiss Edited Information (Edited, 2019u):
Figure 32 Karen Millen Edited Information (Edited, 2019u):
Figure 33 Whistles Edited Information (Edited, 2019u):
Summary: Blacks, whites, navies and greys are the popular colours for all competitors. For assortment; dresses and tops lead with increasing stock counts while bottoms have a smaller ratio, this implies competitors have a stock ratio of 2:1, 2 for tops and dresses, 1 for bottoms. No competitors indulge in value products, their focal point ranges from premium to mass and a small % of luxury. The average price point for all three competitors ranges from ÂŁ65-ÂŁ78 this signifies a premium 40 appeal for their brand and garments.
4.5 Product Comparative Shop Figure 34 The Rollneck Jumper:
Retailer Product Image
Reiss
Whistles
Karen Milen
Product Desciption Charlie Jersey Rollneck Top
Merino Essential Polo Fitted Funnel Neck Jumper
Price Colours Fabric Composition Care Instructions Quality Percpetion (5: Highest, 1: Lowest) Availability
£55 Grey, Red and Black 95% Viscose 5% Elastane Machine Wash 3
£99 Black 100% Merino Wool
£60 Black and Pale Pink 100% Merino Wool
Machine Wash 5
Hand Wash 4
XS-XL
04-16
XS-L
Figure 35 The Updated Shirt
Retailer Product Image
Reiss
Whistles
Karen Milen
Product Desciption
Indra Silk Twin Pocket Shirt
Stallion Print Pocket Shirt
Embellished-Collar Shirt
Price Colours
£155 Pale Aqua and Off White 100% Silk
£99 Black and White
£145 Blue
55% Cupro 45% Viscose Machine Wash 4
100% Cotton
04-16
6-16
Fabric Composition Care Instructions Hand Wash Quality Percpetion 5 (5: Highest, 1: Lowest) Availability 4-14
Machine Wash 5
41
Figure 36 The Slim Leg Tailored Trousers:
Retailer Product Image
Reiss
Product Desciption
Harper Slim Leg Tailored Trousers Price £120 Colours Black Fabric Composition 50% Wool 48% Polyester 2% Elastane Care Instructions Dry Clean Quality Percpetion 5 (5: Highest, 1: Lowest) Availability 4-16 Details High rise, slack pocket at eahc hip, jetted back pockets, zip fastening, slim fit
Whistles
Karen Milen
Sadie Slim Leg Trousers £99 Black 53% Cotton 42% Polyester 5% Elastane Dry Clean 4
Slim Fit Tailored Trousers £85 Black 50% Acentate, 25% Viscose 15% Wool Dry Clean 4
04-16L Tailored slim fit, mid rise waste, tappered legs to an ankle length hem, side pockets
6-16 Tailored slim fit, ankle length, waistband, closed end zip centre front, 2x pockets
Figure 37 The Leather A-line Skirt:
42
Retailer Product Image
Reiss
Whistles
Karen Milen
Product Desciption Price Colours Fabric Composition Care Instructions Quality Percpetion (5: Highest, 1: Lowest) Availability Details
Leather Mini Skirt £195 Black and Maroon 100% Leather
Leather A-line Skirt £170 Black 100% Leather
Faux Leather Skirt £115 Black 100% Polyester
Specialist leather clean 5
Dry Clean 5
Dry Clean 4
4-14 High rise, mini length, A-line silhouette, concealed side zip, x2 slash pockets, fully lined
04-16 Mini length, A-line silhouette, panneling, zip fastening, fitted waist, fully lined
6-16 Mini skirt, ribbed detailing down the waist, waistband with popper detail, metal zip down fron, fully lined
Figure 38 Product Comparative Shop Summary:
Price Point
Fabric
Garment Style
Care Instructions
Details
All garments are positioned with a upper-mass price point, this results in a more premium appeal. Prices range from from ÂŁ55 to ÂŁ155, it is important KG positions pricing in line with competitors however they must ensure they justify the price with quality and fabric to create value for consumers. Competitors feature a higher proportion of natural fibres within their composition, this helps justify their higher price points. Wools and cotton were popular choices thus silk and real leather however, a small percentage of synthetic fibres are blended with natural fibres to increase the wearability and comfort. KG currently offers leather within their shoe range therefore it is important they consider other luxury natural fibres for future ranges. An analysis of competitors merchandise concluded that the majority of their assortment included classical pieces, with a average breath but increased depth; colour and sizes. Kurt Geiger can utilise this in attempt to appeal to a higher percentage of customers within one range. A high percentage of garments need to be handled carefully when being washed; most garments are hand wash and dry clean only. This aligns with higher quality garments which again helps justify a higher price point. Items that are machine wash consist synthetic blends, KG can utilise synthetic blends for core items of a lower price. The higher priced garments feature a higher level of detail, all competitors show similar details for all products; the shirts all consist of a pointed collar, button up fastening, long sleeves and buttoned up cuffs. Due to the similarity Kurt Geiger should keep details subtle like competitors to ensure garments are appropriate for the consumer.
43
Light Magic A/W 19/20
Figure 39 Directional Shop:
44
4.6 Directional Shop
45
Light Magic A/W 19/20
Figure 40 Trend Translation:
46
4.7 Trend Translation
47
Figure 41 Phase One:
48
49
Figure 42 Phase Two:
50
51
4.9.1 Product Classification Figure 43 Phase one classification:
Hero
Fashion
Basic
52
Figure 44 Phase two classification:
Hero
Fashion
Basic
53
54
Technical Development
55
5.1 Working Drawing Name: Split Lace Trousers
Sizes Available: 04-16
Vendors: Kurt Geiger
Labels: Centre Back
Code: 29436907
Fit: Slim Fit
Suppliers:
Release Date: A/W 19/20
Category: Trousers Price: £130.00 Colours: Available in Three Colourways- Burmese Grey, Car- Wash Care: Dry Clean Only nelian Red and Black Composition: Main Fabric- 53% Cotton, 42% Polyester, 5% Costing: £58.50 Elastane. Lace Underlay- 72% Polyester, 28% Viscose Figure 45 Working Drawing:
Front
56
Back
(Aldrich, 2004)
5.2 Stitch Bible
Figure 46 Stitch Bible (American and Efird 2019 a and b):
Stitch/Seam Type
Description
ISO 301- Lockstitch
Stitch is identical on the top and bottom. It is formed with two threads, 1-needle thread and 1-bobbin thread. The needle thread passes through the material and interlocks with a bobbin thread, with the threads meeting in the centre of the seam. Stitch is identical on the top and bottom. It is formed with two threads, 1-needle thread and 1-bobbin thread. The needle and a bobbin are set in the center of the seam and form a symmetrical zig-zag pattern, used to identify lockstitch button sewing and buttonholing. Stitch includes a chainstitch on the front and a looper thread on the bottom, Stitch is formed by 1-needle thread passing through the material while interlooped with 1-looper thread and pulled up to the underside of the seam. This is formed with three threads, 1-needle thread and 2-looper threads, the looper threads interloop together and with the needle thread to form a purl on the edge of the seam.
ISO 304- Lockstitch Buttonhole
ISO 401- Chain Stitch
ISO 504- 3 Thread Overedge Stitch
ISO 406- 2 Needle Bottom Cover Stitch
This stitch type is formed with three threads, 2-needle threads and 1-looper thread. The 2-needle threads pass through the material and interloop with the 1-looper thread with the stitch set on the underside of the seam. The looper thread interloops between needle threads giving coverage on the bottom side only.
ISO 1.01.01- Plain Open Seam
This is formed by pinning the right sides of the fabric together along the raw edge which includes a set seam allowance. Then, Machine a straight stitch along the raw edge where you have pinned the fabric together to then iron it out.
ISO 6.03.01- Clean Finish Hem Seam
This is formed by folding the hem edge up, including the set seam allowance, then a secound fold is created to ensure the raw edge is hidden. A straight stitch is then sewn along the top edge of the fold, to then be ironed out. A plain open seam is created, including a set seam allowance. Then one side of the seam allownace is trimmed down 1/4. The untrimmed seam allowance is then placed over the seam and on top of the trimmed side, tucking the raw edges into a fold. A straight stitch is then made along the edge of the fold, to creat the seam. Two pieces of fabric are lapped at the top and bottom, the bottom pieces lap over a middle piece of fabric which merges the waist band onto the trousers, these lapped pieces are joined with ISO 401 stitches.
ISO 4.06.01- Flat Felt Seam
ISO 7.57.01- Two Piece Waistband
57
5.3 Measure Specification Name: Split Lace Trousers
Sizes Specification: 06
Vendors: Kurt Geiger
Labels: Centre Back
Code: 29436907
Fit: Slim Fit
Suppliers:
Release Date: A/W 19/20
Category: Trousers Price: ÂŁ130.00 Colours: Available in Three Colourways- Burmese Grey, Car- Wash Care: Dry Clean Only nelian Red and Black Composition: Main Fabric- 53% Cotton, 42% Polyester, 5% Costing: ÂŁ58.50 Elastane. Lace Underlay- 72% Polyester, 28% Viscose Figure 47 Measurment Specification:
(Aldrich, 2004) 58
Landmark Measurment Point
Measurment (Inches) Tolerance (+/-)
Size
A
Waist Relaxed
13
0.5
06
B
Waist Extended
14
0.5
06
C
Waistband Width
1.5
0.2
06
D
High Hip 3’’ down from waist seam Hip 7” down from waist seam
15
0.5
06
16.5
0.5
06
7.5
0.5
06
9.5
0.5
06
9
0.5
06
11
0.5
06
8.5
0.5
06
6.5
0.5
06
L
Front Rise not including waistband Back Rise not including waistband Front Rise from top edge of waistband Back Rise from top edge of waistband Top Thigh 1” down from crotch seam Knee 13” down from crotch seam Leg Opening Extended
5.5
0.2
06
M
Leg Opening Relaxed
4.3
0.2
06
N
Hem Width
1.5
0.5
06
O
Fly Length
6
0.2
06
P
Fly Width
1.4
0.2
06
Q
Crotch Depth
9.5
0.2
06
R
Crotch Width
2
0.2
06
S
Waist to Floor
32
0.5
06
T
Waist to Hip
5.5
0.5
06
U
Waist to Knee
17.5
0.5
06
V
Inseam
27
0.5
06
W
Total Length
36
0.5
06
X
Dart Length
2.5
0.2
06
Y
Dart Width
1
0.2
06
E F G H I J K
(Aldrich, 2004)
59
5.4 Lay Plan Figure 48 Lay Plan (Aldrich, 2004):
Trousers
Lace Underlayers
Figure 49 Lay Plan details (Aldrich, 2004):
60
Land Mark Position on Garment Number to Cut Information
Seam Allowance
A
Back Leg
2
1cm
B
Front Leg
2
C
Waist Band
2
D
Back Fly Shield
1
E
Front Fly Piece
1
F
Front Fly Piece
2
Cut full piece on folded fabric Cut full piece on folded fabric Cut full piece on folded fabric Cut full piece and cut flat Cut full piece and cut flat Cut full piece on folded fabric
1cm 1cm 2cm 0.5cm 0.5cm
5.5 Testing Figure 50 Testing:
Test and Standard Principle
Importance
Textiles — Tests for colour fastness — Part C10: Colour fastness to washing with soap or soap and soda
A speciment of the textile in • Colour is a integral part of a fabric/ contact with one or two specigarments aesthetics appeal. Ensuring fied adjacent fabrics is mechancolour maintains it’s appearance after ically agitated under specific multiple cleanings therefore increases conditions of time and temperthe amount of time the garment reature in a soap solution, then mains useful to the consumer, thereby rinsed and dried. The change in creating increasing value, which is ISO 105-C10:2007 colour of the speciment and the expected when paying higher prices staining of the adjacent fabrics (Bubonia, 2014) are assessed with grey scales (BSI, 2007). Textiles- Seam A fabric test specimen of • Testing and evaluating seam constructensile properspecified dimensions having a tions is a critical aspect to garment ties of fabrics and seam in the middle is extended performance and quality as thread made-up textile perpendicularly to the seam at fibre content, constructions as well as articles- Part 1: a constant rate until the seam fibre properties can effect the seams Determination of ruptures. The maximum force intended use, therefore it can test maximum force to to seam rupture is recorded these combined aspects in garments. seam rupture using (BSI, 2014). For example it can determine fabric the strip method failure as well as seam slippage (Bubonia, 2014). ISO 13935-1:2014 TextilesDetermination of (length and width) dimensional change in washing and drying ISO 5077:2008
The specimen is conditioned in • Washing and drying shrinkage or the specified standard atmosgrowth is a problem that consumers phere and measured before pay close attention to as the techinisubjection to the appropriate cal fit of the garment is then changed washing and drying procemaking it unfit for the users intended dures. After drying, conditioning size (Booth, 1983). and remeasuring of the specimen, the changes in dimensions are calculated (BSI, 2008).
61
5.6 Sourcing Figure 51 Specific material to source:
Shirt(s)- 60% Cotton, 40% Viscose
Lace- 72% Polyester, 18% Viscose
Silk- Real Silk is used on its own or with Viscose and/or Polyester belnds
Leather- 100% Real Leather
Trouser(s)- 53% Cotton, 42% Polyester, 5% Elastane
Blazer(s)- 90% Cotton, 10% Elastane
Knitt- Mernio Wool is used on its own or with Viscose and/or Elastane Blends
Velvet- 94% Viscose, 6% Polyester
Jacquard- Cotton, Elastane and/or Polyester Blends
62
5.7 Financial Costing
63
Figure 52 Financial Costing:
Name
Detailed Silk Blouse
Sketch
Fabric
Colour Metallic Grey Metallic Green
Sizes
Product Classification
Selling Price
29436900
100% Silk
04 to 14
Hero
£140.00
29436901
53% Cotton Carnelian Red 42% Polyester Burmes Grey 04 to 16 5% Elastane Black
Basic
£100.00
Tie the Knot Blazer
29436902
Carnelian Red 90% Cotton Burmes Grey 04 to 16 10% Elastane Black
Hero
£120.00
Puff Sleeve Shirt
29436903
60% Cotton 40% Viscose
White
Basic
£60.00
60% Cotton 40% Viscose
White with Carnelian Red and Living 04 to 16 Green Floral Embroidery
Fashion
£80.00
Black
04 to 16
Basic
Black
04 to 16
Fashion
£70.00
Carnelian Red Burmes Grey 04 to 16 Black
Fashion
£130.00
White Black
Fashion
£80.00
Basic
£90.00
Slim Leg Trousers
Floral Puff Sleeve Shirt
29436904
Leather A-line Skirt
29436905
Lace A-line Skirt
29436906
Main-100% Leather Lining- 100% Polyester Main-72% Polyester 18% Viscose 10% Cotton Lining-100% Polyester Main-53% Cotton 42% Polyester 5% Elastane Lace Underlay72% Polyester 28% Viscose
04 to 16
Front Split Lace Trousers
29436907
Puff Sleeve Top
29436908
100% Cotton
29436909
Carnelian Red 100% Merino Burmes Grey 04 to 14 Wool Black
Roll Neck Dress
64
Style
04 to 14
£170.00
Retail Margin %
Retail Margin £price
Single Product Cost (£)
% of the Range
Total Quantity
Total Range Cost
Total Retail Value
47%
£65.80
£74.20
5%
1170
£86,814.00
£163,800.00
64%
£64.00
£36.00
17%
4428
£159,408.00
£442,800.00
47%
£56.40
£63.60
8%
1896
£120,585.60
£227,520.00
64%
£38.40
£21.60
6%
1476
£31,881.60
£88,560.00
55%
£44.00
£36.00
5%
1132
£40,752.00
£90,560.00
55%
£93.50
£76.50
6%
1476
£112,914.00
£250,920.00
55%
£38.50
£31.50
6%
1476
£46,494.00
£103,320.00
55%
£71.50
£58.50
18%
4425
£258,862.50
£575,250.00
55%
£44.00
£36.00
12%
2952
£106,272.00
£236,160.00
64%
£57.60
£32.40
18%
4428
£143,467.20
£398,520.00
24859 £1,107,450.90
£2,577,410.00
Total
65
66
Merchan -dising Strategy
67
6.1 Allocation and Distribution Figure 53 Seasonal Drop Schedule:
August
September
October
November
December
Phase 1 Phase 2
Figure 54 Store Classification (Kurt Gieger, 2019):
Grade A- Flagsip
Grade B- Large Store Grade C- Medium Store 6 Stores 30 Stores 24 Stores Liverpool, Manchester, Large Towns, other Smaller towns, no x2 London, Birmingcities and shopping outlet stores as these ham, Newcastle centres decrease the premium appeal
Grade D- Small Concessions 3 Stores House of Fraser, Selfridges, Harrods
Figure 55 Store Grades:
Product Classification Hero Fashion Basic Totals
Store Grade A 18 24 24 66
B 12 18 24 54
C 6 18 24 48
D 6 12 12 30
Totals 42 72 54
Figure 56 Size Distribution; average allocation of one style for a Flagship store, 24 units:
68
Size Plan
Units
04
2
06
3
08
5
10
6
12
4
14
2
16
2
Total
24
Figure 57 Quantities based on product classification and store grade:
Product Classi- Code fication
Hero Basic Hero Basic Fashion Basic Fashion Fashion Fashion Basic Total Quantities
29436900 29436901 29436902 29436903 29436904 29436905 29436906 29436907 29436908 29436909
Store Grade A
B
C
D
Total Quantities
216 432 324 144 144 144 144 432 288 432 2610
720 2160 1086 720 540 720 720 2160 1440 2160 12426
288 1728 432 576 432 576 576 1728 1152 1728 9216
36 108 54 36 36 36 36 208 72 108 630
1170 4428 1896 1476 1132 1476 1476 4425 2952 4428
Figure 58 WISSI:
WSSI 1 - Phase One Week Opening Stock Intake For. Weekly Sales Act. Weekly Sales 18/08/2019 17,500 1,797 25/08/2019 15,703 1,399 01/09/2019 14,304 1,978 08/09/2019 14,828 2500 1,854 15/09/2019 12,983 2,596 22/09/2019 12,887 2500 2,250 29/09/2019 10,638 1,986 06/10/2019 8,652 1,694 13/10/2019 6,958 1,879 20/10/2019 5,079 1,612 27/10/2019 3,467 1,503 03/10/2019 1,964 1,400
0 0 0 0 0 0 0 0 0 0 0 0
Closing Stock 15,703 14,304 12,328 12,983 10,387 10,638 8,652 6,958 5,079 3,467 1964 564
69
70
Strategic Rationale
71
7.1 Range Rationale 7.2 Purpose The intended purpose of the range is a to have available a trend-led clothing line consisting of smart formal to occasional-wear. The PESTEL (see appendix B) states older millennials are increasing the market share of occasional-wear thus all competitors provide occasional-wear (see figure 7). This also helps justify the high fashionability in-conjunction with the premium prices, as these are expected aspects of occasional wear (Dover, 2018c). 7.3 Fashionability Section 1.7 identifies the consumers and brand as early adopters/majority (Rodgers, 1962). This justifies the definite need for the range to be trend led. However, in-conjunction with KG’s unique market position, the trends aspiration is paired with accessibility to the consumers lifestyle and preferences with smart formal wear taking up a majority of the range. The key silhouette updates can be found within the trend translation (see figure 40). As the nature of the range is highly fashionable, silhouettes are taken directly from the trend (see figure 30) and updated with individual, or multiple design elements relative to the directional shop (see figure 39). For example notch splits, lace fabric inserts and buttoned rows were applied as they are distinctively feminine and can be used to draw attention to specific areas, but when applied in a subtle ways they still offer sophistication. Femininity and sophistication has been applied throughout the range as these are key customer characteristics (see figure 10), which are also relative to the trend, ensuring the trends suitability. However, an analysis of competitors current merchandise was conducted to identify any missed trends or styles familiar with the consumers; the Rollneck Jumper, Updated Shirt, Slim Fit Tailored Trousers and Leather A-line Skirt are therefore present within the range (Goworek, 2007). Only the colours, floral pattern, price and quality are relative to KG’s past and current offering as no products are specifically the same YoY, their nature is to update products relative to the trend therefore they have eliminated detailed consumer preferences, which could be seen as a risk. 7.4 Fabrics Consumer research shows that high quality is expected (see section 1.7 and 1.8). Goworek (2007) states natural fibres are perceived as more luxurious with higher quality than synthetics, thus competitors show a higher proportion of natural fibres within their composition to help justify their premium appeal (see figure 28). A large percentage of competitors ranges show cotton, wool, real leather and real silk as a preference with a small percentage of synthetic fibres and/or synthetic fibre blends. Therefore to ensure competitors styles are not eliminated, these fabrics are applied. The natural fibres applied help justify KG’s premium prices and increased quality however Gardetti and Torress (2013) suggest synthetic and natural fibre blends can increase the comfort and wearability of garments, therefore this has also been applied. Synthetic blends are applied, but to lower priced items and in smaller percentages as synthetics become dirtier faster, are washed more frequently therefore their throw away nature increases where as natural fibres have longer life cycles (Laitala, Klepp and Henry, 2018). Therefore too many synthetic only products could decrease consumers trust with the brand as they expect products to last longer when paying a higher price (Jackson and Shaw, 2009). Even though animal materials could cause critisims due to the increase of sustainability, KG have a successful history with using leather YoY (see appendix A) thus, competitors and the trend consists of leather, silk, lace and velvet, this creates a commercially balanced and trend led range.
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7.5 Care Instructions The comparative shop identified a high majority of garments as dry clean only but they also show a percentage of machine washable garments, all of which have been justified by their fabric composition (see figure 28). The same justification has therefore been applied to KG’s range, additionally consumers have a busy lifestyle, which makes it harder for them to maintain their clothing.
Thus, dry cleaning is associated with high quality, exclusive products with higher price points as they need more consideration and care (Bubonia, 2014). Therefore the higher proportion of dry clean only products relatives to the consumers lifestyle and helps create a premium perception in the consumers mind. Plus, the increased use of natural fibres means consumers will need to maintain/wash their products less frequently, suiting the consumer busy lifestyle (Laitala, Klepp and Henry, 2018). 7.6 Styling The directional shop (see figure 39) identifies tailored sets as a prominent theme, this is also relative to the trend (see figure 28, 29 and 30). Tailored sets are present within the range, with colour blocking to increase the co-ordination however to increase the versatility of the range they are offered as separates. This gives consumers an option, they can wear the full look or mix and match pieces according to the occasion, whether it be smart formal or a special occasion. Garments can also be styled with the consumers existing wardrobe, which increases their willingness to purchase (Jackson and Shaw, 2001). Matching sets have also increased by 60% YoY therefore, the fashion conscious consumer would expect these to be present (Watkins, 2019). The styling of feminine layers identified within the directional shop (see figure 39) has also been applied but specifically to the ‘Gatsby gown’ as this theme is to extrusive for all consumers due to their business lifestyle. However, both of these styling themes are seen across seasons which gives KG opportunities to capitalise. 7.7 Colour and Print The colour platte consists of Black, White, Carnelian Red and Burmese Grey as core colours. Living green, Moonshine green and Blue as accent colours thus, Metallic Silver and Green to help distinguish a key direction towards occasional-wear (Maggioni, 2018a). The core colours are dominant within competitors and KG’s current offerings (see section 4.4 and figure 1). They have therefore been applied to ensure the range offers some familiarity with consumers as this eliminates an element of risk (McColl and Moore, 2011). The greens, blue and metallics are influenced by the trend (see figure 29) and directional shop (see section 39) as a pop of colour choice. The directional shop (see figure 39) identifies them as popular colours, especially green that is growing YoY across high luxury brads such as Balenciaga (Maggioni, 2018a). Their application therefore ensures the colour palette corresponds with the expected fashionability of the consumer identified in the consumer research (see section 1.7). KG also show the use of floral patterns YoY (see appendix A) which made it a relevant it a relevant opportunity that also emphasises the trend. Florals also ensure the fashion conscious consumer is targeted as florals have increased on the catwalk by 23% YoY (Maggioni, 2018b). Thus florals allow the unusual juxtaposition of colours, relative to the trend, but without overwhelming consumers; addressing a more commercial appeal. 7.8 Assortment Both phases consist of more tops compared to bottoms, which has been influenced by competitors (see section 4.4) and supported by academics. Goworek (2007) suggests a ratio of more tops to bottoms is key to a successful range as tops are cheaper than bottoms therefore the consumer is likely to buy more. This ratio also helps increase the co-ordination and versatility of the range as tops can be styled with different bottoms to represent a whole new outfit (Jackson and Shaw, 2009). However, competitors also have increasing stock counts of dresses as they all indulge in occasional wear such as party wear (see section 4.4), this has justified my focus on smart formal to occasional wear, with the inclusion of dresses. This also helps justify why no coats or thick jumpers are present, as they would confuse the signature styling of the range (Maggioni, 2018). Competitors also have an average breath and increased depth which has influences the sizes, colour ways and styles (see figure 38). All styles are different from each other to ensure balanced sales and to help maximise the amount the consumer wants to purchase (Goworek, 2007).
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7.9 Product Classification The right mix of core and fashionable products creates a commercially balanced range (Goworek, 2007). Clark (2015) suggests high street retailers have a higher percentage mix of core and fashion products as their customer needs can be simply diluted. Thus, Shaw and Koumbis (2014) suggest hero garments have increased risk due to the nature of their fashionability. Therefore, this justifies the increased balance of core and fashion garments in comparison to hero garments. However, the both phases also consists of a similar balance of core and fashion garments to ensure consumers can distinguish the range as fashionable, as to many core products can decrease this perception (Goworek, 2007). Goworek (2001) suggests core products are not trend led however Clark (2015) the trend attributes of garments are determines by how fashionable the consumer is perceived. As KG’s consumers are fashion conscious, core products also include trendy attributes. Fashion and hero garments interpret the trend for the targeted consumer therefore they will be used to capture the consumers attention (Clark, 2015). As all products trend-led, there is a risk that the range will not appeal to a wide audience therefore, a high majority of products are made in one or multiple core colour ways to provide a more commercial appeal, as Goworek (2007) suggests products are also classified by colour.
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8. Technical Rationale 8.1 Sourcing The RBV analysis (Grant, 1991) (see figure 25), shows KG’s supply chain as a resource gap as it is currently feasible for footwear and accessories only. Clothing requires different product components, fabrics and production techniques therefore KG need to source a new supply chain (Bubonia, 2014). Literature states that it is effective for retailers to outsource production to low wage countries (Chen, Murray and Jones, 2007). However, these low wage countries are associated with sweatshops, unfair working conditions and fast fashion which is known for low quality and designs that mimic premium and luxury brands (Joy et al, 2015). Therefore, if KG were to source from such countries they could tarnish their reputation as a premium retailer. For premium retailers it is effective to keep production local for example in Spain or Portugal due to their increased learning curve (Chen, Murrary and Jones, 2007). However, partially industrilized countries such as Morocco, India and Turkey have now gained the competence to manufacture intricately worked high quality garments with the required speed and flexibility required (Tokatli, 2008). These partially industrialized countries could therefore be used for basic garments while Spain and Portugal for the more fashion led garments. 8.2 Testing Testing colour fastness to washing is crucial as colour is a key aspect of quality thus when cleaning soaps are used, even when dry cleaning, for example powdered detergents. These are effective in removing stains however the high pH tends to negatively impact fibres and dyes (Bubornia, 2014). Natural fibres also have different quality parameters; their colour, shape, size and filament denier and length differs which directly affects the dye properties and the dyes rate in change (Morton and Hearle, 2008). Therefore this standard can be used to create consistency across the natural fibres for the intended quality. The testing of the seams tensile properties relates to abrasion, which impacts the strength and longevity of garments, which is directly related to quality. Pressure, tension, surface rubbing and moisture are abrasion forces that can occur during wear and refurbishment causing seams to tear away (Bubonia, 2014 and Booth, 1983). These forces are relative to the consumers everyday lifestyle which increases the importance of this standards use to ensure high quality and decrease the chance of faulty refunds. It is important to control dimensional stability as it is present in most fibres thus the rate can vary according to the type of fabric/fibre (Bubornia, 2014). For example cellulose fibres shrink because of fibre swelling, wool because of felting and hydrophobic synthetics because of mechanical distortion (Matlin and Duessle, 1995). As there are many different fibres used within the range, this standard can be used to create a standard rate of dimensional change to ensure the garments maintain their intended fit after washing and drying. 8.3 Price The new range consist of premium prices, as this was a key opportunity to address within the PESTEL (see appendix A). The average prices are within the current price architecture of KG London; prices range from £11.95 to £405.71 with an average price of £117.21 (Edited, 2019j). Most of KG’s products are also priced at £80-£100 (refer to appendix C).This ensures that their current product offering aligns with the new range. The prices are also justified by the increased fashionability, high quality and/or the natural fibre usage to ensure value is communicated to consumers (Goworek, 2007). To decrease the chance of price unfairness, which can have a negative effect on KG, competitors prices are also taken into account (Xia, Monroe and Cox, 2004). Edited (2019) identifies the average price of competitors at; Reiss, £99.04, Karen Millen, £133.01 and Whistles £106.92 (Edited 2019u). Competitors therefore align with the price points, this ensures the range is practical for consumers and is not perceived as over priced (Jackson and Shaw, 2009). 75
9. Merchandising Rationale 9.1 Launch, allocation and Distribution The range will be launched in august as this is usually when A/W products are launch in retailing, this allows a selling period for consumers before the months they are actually intended to be worn for (Shaw and Koumbis, 2014). Edited (2019) shows KG drop most of their A/W products on the 18th of August (see appendix E) therefore this is the launch date, along with a marketing campaign, as this fuels the growth of sales (Goworek, 2007). The first phase is also relative to the transitional period thus the colours are transeasonal (Maggioni, 2018a) which secures sales at the launch whereas phase two has an increased party wear direction in time for Christmas. The range is only available in-stores as this makes it exclusive to the high street, relating to their exclusive appeal. Thus, their website is a global platform therefore cultural and climate differences would create risk (Easey, 2002). Products are allocated according to their classification; basic garments in high volumes, fashion garments in moderate to high volumes and hero garments low volumes. According to Jackson and Shaw (2009) and Goworek (2007), these volumes reflect the high street appropriately due to their nature which decrease the chance of overstock. Furthermore, KG do not want to be associated with fast fashion’s low quality therefore the season consists of two phases only. 9.2 WISSI WISSI comments based on campaigns, category landing pages, news letters and sales are directly linked to KG’s retailer reactions last year (see appendix F). For week one, sales are secured by a campaign working in-conjunction with newsletters and emails for the new range thus the summer sale starts on the 21st, this will increase footfall For week one, sales are secured by a campaign working in-conjunction with newsletters and a new category landing page for the new range thus, the summer sale starts on the 21st, this will increase footfall. August is also an occasional period and phase one is transeasonal; bank holiday is the following week,16th, therefore consumers will be shopping for smart occasional wear. For week two, sales decrease slightly as consumers will be busy with their bank holiday activities, however as it is bank holiday the stores will still be busy. The summer sale is also still on and more pictures of the campaign on the category landing page and newsletters will be released to fuel more interest. For week three, sales increase as the range is relative to smart formal workwear, therefore consumers who are students will be purchasing as they are going back to university and some consumers who are teachers will also purchase as they go back to work. The summer sale is also still on thus, consumers have just received a pay day so will be more willing to spend. For week four, sales decrease, due to the decrease in activities however product replenishments are introduced. The range is relative to business women in the fashion industry and as Milan and London fashion week are the following week; Milan the 14th and London the 17th, there needs to be sufficient stock to purchase (FWO, 2019). For week five, sales have a high increase as KG introduce another sale on limited lines only, on top of their summer sale that is still available to purchase, therefore footfall will increase over this week. There is also another London and Milan fashion week the next week; London 22nd and Milan 23rd (FWO, 2019).
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For week six, the limited lines only sale and summer sale will still drive interest and footfall thus, there will a update to all category landing pages, with a focus on winter styling, this will align with a celebrity blog post. There is also more lines made available for the summer sale. There is a replenishment here in time for the winter fall and party wear occasions. For week seven, sales decrease as the limited time only sale finishes, however due to the previous weeks winter styling blog and category landing pages, consumers will be interested in coming into store. For week eight, there are reduced consumer activities however, a new sale is introduced, buy one get one half price, this will be on their boots that can be styled with the new range, this will increase the chance of cross selling boots with the range. For week nine, sales have a slight increase as consumers are more aware of the buy one get one half price sale, which will drive footfall and sales. For week ten, sales decrease as there are no consumer activities however, halloween and the party wear season are particular the the next couple of weeks therefore sales will still be secured. The buy one get one half price sale is also still on. For week eleven, sales decrease as the range has had its appeal to most consumers thus, Halloween is on the 31st therefore consumers will be celebrating rather shopping. However, the buy on get one free sale is still on. For week twelve, the buy on get one free sale decreases and sales have a slight decrease as Black Friday is present within this month and KG do a sale over several days therefore consumers may wait for the sale rather purchase at full price. However, November is the start of the party wear growth but phase two will have been introduced in February which will take sales away from phase one.
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10. Conclusion Implications: • KG do not have a key signature style as they reinvent products every season based on the trends. They have signature silhouettes but these are present in their current offering- accessories and footwear, therefore a key implication was transfering a signature style across into clothing. To decrease the element of risk, their core competences were transfered- high quality, exculsive and trend led. • KG have a broad range of cosnumers therefore a key implication was choosing what demographic to focus on as focusing on 25-25 year olds leaves out other specific groups who are interested in the brand such as 16-24 year olds (Baram, 2018a) • The uncertaincy of Brexit was analysed within the PESTEL (see appendix B) the trade agreements and exchange rates could still effect KG as their store classification is across Europe. • Substitues are are a risk against the new range as people may prefer to purchase lower priced items when the Brexit uncertaincy is solved. • There is also a potential risk of substitues- lower priced retailers copying aspects of KG’s new clothing range which can therefore reduce sales and ruin the appeal of the range. Future Recommendations: • Styling advice should be given on their blog and in-store to align with their premium appeal and to help women be confident when choosing their items. • KG should consider sustainable alternatives to their animal fibres in the future i.e. vegan leather, as consumers are becoming increasingly interested in sustainability therefore there is a risk that they could become associated with animal cruelty, ruining their reputation. This would also allow them to reach a wider auidence. • KG could do sperate product categories for occasional-wear and smart-formal wear, with expert members of staff in each area, this would allow an increased but focused variety of products for consumers. • KG could focus on tailoring as a core product category. • KG could capatlise on the clothing range by transfering the tailoring into workwear with other suitable garments. • KG should publish their supply chain for their clothing line for complete transparency with consumers as clothing manufcature is associated with social and enviromental issues. In conclusion this report shows an analysis and evaluation of KG the brand and KG London the label. The analysis includes an evaluation of the micro-enviroment and macro-enviroment, KG’s current and future retailing market, KG’s current resources, competitive analysis, technical development and merchandising strategy to help justify decisions on the strategies direction. The new womenswear clothing line for KG London, KG’s premium label, targeting 25-35 year olds is therefore a reflection of the trading period of today with considerations of future implications, which ensures a successful strategy (Johnson and Scholes, 2002).
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and
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Appendix
and references
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11. Appendix A Brand Board Support: Real leather is used YoY with high sell thru rates and replenishment rates: A/W 2018 Replenishments 4 New in 12th October First sell out 1st October (Edited, 2019k)
A/W 2018 Replenishment 2 New in 13th September First sell out 30th September Real leather (Edited, 2019l)
A/W 2017 Replenishment 2 New in 18th October First sell out 31st October Real Leather (Edited, 2019m)
A/W 2016 Replenishment 3 New in 14th September First sell out 1st October Real Leather (Edited, 2019n)
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A/W 2015 Replenishments 2 New in 17th October First sell out 1st December Real leather (Edited, 2019o)
S/S 2019 Replenishment 2 New in 07th February First sell out 21st February Real leather (Edited, 2019p)
A/W 2018 Replenishment 1 New in 19th September First sell out 01st October (Edited, 2019q)
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Floral Patterns are used YoY with high sell thru rates and replenishment rates; S/S 2019 Replenishment 2 New in 23rd February First sell out 05th March (Edited, 2019f)
S/S 2019 Replen 2 New in 03rd March First sell out 14th March (Edited, 2019g)
A/W 2017 Replenishment 1 New in 30th August First sell out 10th September (Edited, 2019h)
A/W 2018 Replen 1 New in 02nd August First sell out 20th August (Edited, 2019i)
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A/W 2016 Replenishment 3 New in 05th August First sell out 20th August (Edited, 2019e)
A/W 2017 Replen 2 New in 18th August First sell out 21st August (Edited, 2019b)
A/W 2016 Replen 2 New in 01st September First sell out 19th September (Edited, 2019c)
A/W 2018 Replen 1 New in 18th August First sell out 01st September (Edited, 2019d)
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B The PESTEL Analysis (Aguilar, 1967): PESTEL
Factor
Political
Brexit • Businesses are still faced with the uncertainty of changing trade agreements/no deal Brexit with EU- UK, resorting to WTO trade tariffs (Fish, 2019a).
KG need to consider contingency planning with suppliers to ensure they are prepared for this change. Higher costs would also have to be implemented onto prices of sales to consumers which could have a negative effect on KG’s lower priced labels. Sustainability KG need to take responsibility and con• Retailers where asked to submit form to the MP’s requests to ensure their evidence of their ethical and sustain- reputation is not damaged, to ensure able efforts by UK MP’s however KG consumer trust and to prevent increasing, did not respond (Brown, 2018a). costly mandatory laws.
Economic Performance of Retail Segements • Consumers are trading up or down; value segments are succeeding due to low prices and premium retailers are in their prime performance due to the perception of longer life cycles (Dover, 2018c). Retail Spending Sector • Clothing takes an increased share of total consumer spending, it shows consistent demand and is the second largest retail spending sector, after food (Dover, 2018c). Exchange Rates • The sterling declined sharply in value after Brexit thus, further volatility is expected (Mustoe, 2019).
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Effect on KG
Inflation • Shop Price Inflation Index has releveled shops have increased prices YoY by 0.7%, this is the highest inflation rate since March 2013 (Fish, 2019b). Consumer Confidence • Older Millennials and Xennials say they are confident about their finances over the next year, overall 82% state confidence even if they have some concerns (Shepherd, 2019). India • The growth rate of India’s economy is impressive thus their consumers have increased interest in international brands (Brown, 2019b).
May have to reduce the stock levels of mid-price point labels or eliminate them completely due to poor sales however KG can put more focus on their cheaper label, Miss KG or their premium labels, KG London and Carvela. Footwear and accessories hold a smaller market share than clothing, this implies clothing would be a successful product growth strategy for KG. KG must maintain strong relationships with their suppliers as this could result in increased costs when outsourcing which puts pressure on supplier relationships thus could lead to implementing higher costs onto the price of products. This could result in a drop-in consumer confidence and risk of decreased spending or consumers may seek quality and value which KG can capitalise on through their relevant specific labels. KG could focus on these older age groups to increase sales and profit, their confidence along with the rise in minimum wage could provide certainty even after Brexit is complete. KG could expand to India with their current product ranges to achieve growth.
SocioCultural
Athleisure Trend in decline • Athleisure trend has evolved and saturated which has created demand for more trend driven womenswear styles (Dover, 2018c). High Quality is in Demand • In relation to sustainability, fast fashion purchases have decreased, 74% of female consumers think it is worth spending more money on quality clothes that last (Dover, 2018c). Influencers • Bloggers and social media influencers are perceived as valuable and trustworthy by consumers; however, it is more effective to co-create such efforts with the brand (Dover, 2019). Department Stores • Department stores are growing within the premium sector, but the mid-market sector is losing market share (Dover, 2018c). Brand Loyalty • Shoppers are become less brand loyal and are shopping around more at different retailers both in-store and online (Sender, 2018c). Collaborations • Retailers are using partnerships with other brands and celebrities to generate hype, reach new customers and boost demand (Dover, 2018b). Female Shoppers • Women aged 25-35 and over prefer to buy from premium retailers (Sender, 2018b). • Women aged 25-34 are the main shoppers for clothes, accessories and shoes (Sender, 2018b). • 77% of women shoppers buy new fashion items for a ‘special occasion’ and there are now an increasing variety of different occasions, this suggests the market is buoyant with relatively strong demand (Dover, 2018d). • Even with the rise of sustainability, a large majority of women think it is still important for products to be trend led (Sender, 2018c).
KG can use their product differentiation; innovative, stylish and fashionable products to gain consumers and win back their market share from sporty competitors. Consumers already establish KG as high quality therefore they can capitalise on this to gain the consumers that are switching away from fast fashion. KG can co-create their marketing, products and content with bloggers and influencers to ensure they maximise engagement and reach a wider audience. KG could focus on their premium labels for the premium department stores to stay competitive and secure sales. Increasing competition can be a threat to KG, they need to ensure they keep close relationships with loyal consumers through AI and create valuable products and retailer reactions. This causes a threat to KG sales however they could also follow this trend with a premium retailer to capitalise on their core competences. KG can focus on these older consumers to secure sales for their premium labels, in-conjunction to this they could introduce occasional wear as such consumers are willing to pay higher prices for occasional wear and think such products and other products should be trend led, which is relatable to KG’s fashion-ability (Dover, 2018b).
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Technological
Enviromental
Legal
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Artifical Intelligence • In-store technology for personalisation and automation is increasing for example smart and Pay-go functions etc. (Brown, 2019a). • Voice search usage is increasing and is likely to impact the way consumers shop (Thomson, 2018). • Improved data science software’s (Brown, 2019a). E-commerce • E-commerce has continued to outperform the wider market of fashion expenditure and still does, however during the second half of 2018 there was a slowdown in sales growth, which is expected as it is no longer in its infancy (Rumsey, 2019). Social Media Usage • Social media usage is growing, data shows it is a key tool for impacting what people buy and wear thus, for supporting brands (Ruiz, 2019) Success of Mobile Shopping Apps • Time spent worldwide on mobile shopping apps has risen by 60% to 18 million hours in 2018 thus consumer spending via mobiles has grew the fastest rate than the overall GDP (McGregor, 2019). Sustainability • External pressure from the government, NGO’s and consumers for retailers to comply to ethical and sustainable efforts (Dover, 2018c) Labour Laws • National minimum wage has increased within the UK (Hawken, 2018). Data Protection Act • Increased data protection acts with large fine penalties; Governments are requiring more transparency from companies about how they are using personal data (Hawken, 2018). Ethics • Modern Slavery Act • Gender Pay Gap Reporting is seen as a priority (Hawken, 2018). Sustainability • UK MPs are charging a 1p tax on every garment they sell to fund an annual recycling scheme (Stocker, 2019).
KG need to improve their technological integration to stay competitive. Could use AI in-store to improve their customers experience or get a better understanding of their customers. Could include Voice search recognition in-store or online, however precise research would need to be implemented firstly to understand consumers relationship with this facility. KG need to invest in e-commerce and omni channel retailing to stay competitive however not with all efforts, should also consider other ways to grow such as product focus or AI focus to balance out the decline in online sales. KG need to invest more in their social media accounts thus, increase their activity to stay competitive. KG need to introduce a mobile app for consumers, this will allow them to stay competitive and gain growth in sales and profits.
KG currently have no sustainable efforts; they need to create and implement a sustainability framework within their supply chain to ensure their reputation is not damaged and to sustain their growth. This increases costs for KG which with the uncertainty of Brexit and contingency planning can be seen as a threat, meaning they may have to lay off staff or close stores. KG need to create and publish a statement for the Government and public stating their data protection activities, especially when introducing new technologies, online or offline. KG need to integrate such efforts into the whole supply chain to ensure suppliers and staff understand the mandatory expectations. KG could consider this by introducing their own recycling scheme, this would counter towards sustainability as they have none currently in place.
C Edited Research on KG (Edited 2019j and s): Florals take up 7% of all pattern products.
Price Architecture:
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D Silhouette Development:
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E Launch Date: Edited (2019v) shows August the 18th has the most events- 187 events, related to A/W drops, compared to that whole month
F Heat Map Analysis: Retailers Reactions: each of these home pages are introduced in-conjunction with emails/newsletters and categorty landing pages (Edited, 2019w). 18th August new Campaign drop: newsletters, 21st August: summer sale starts: homepage, new category landing page
28th August: more pictures of new campaign/range on homepage
17th September-25th September: sale on limited lines only
03rd September: updated homepage again with the original campaign video
25th September: winter campaign focus only
26th September-08 October: limited time only summer 08 October- 31st October: Buy one get another half sale price
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21st November- 03rd December Black Friday/
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