Mock Prada Pop-Up Shop

FASM 410: ALESSANDRO CANNATA

AMBER NASH CALLOWAY KANDT ELIZABETH FUCCI JOCELYN NORRIS

PRADA POP UP SHOP NEW DELHI, INDIA

C O N T E N T S

I.EXECUTIVE SUMMARY

V. S T O R E O V E R V I E W

II.COMPANY SUMMARY

VI.PROMOTIONAL PLAN

III.MARKET ANALYSIS

VII.FINANCIAL PLAN

I V.T A R G E T C O N S U M E R

VIII.CONCLUSION

E X E C U T I V E

H I S T O R Y Prada was founded in 1913 by Mario Prada in Galleria Vittorio Emanuele II, in Milan, where leather bags, trunks, beauty cases, and luxury accessories were sold. In 1919, Prada became the official supplier for the Italian Royal family. Due to this, the House of Savoy’s coat of arms and knotted rope design could be included in their logo design. The Prada brand became associated with the refined members of the upper class. In 1950, a special type of nylon that imitated the look of precious silk was launched that would later become iconic for the brand. In 1977, Miuccia Prada, Mario Prada’s granddaughter began a partnership with businessman Patrizio Bertelli that would lay the foundation for the brand’s future development.

In 1979, the first women’s footwear collection was introduced and in 1983, a new store in Via della Spiga in Milan opened as a representation of the new image of the brand. This store combined traditional elements with modern architecture and a pale green color that is later incorporated into other locations. In 1986, several new store locations were introduced such as New York, Madrid, Paris, London, and Tokyo. In 1988, Prada showed its first womenswear collection at their headquarters in Milan. Later in 1993, their first men’s collection was launched along with Milano Prada Arte- a project to display provocative art, cinema, architecture and culture.

In 2000, Prada’s first sunglasses and eyewear collection was launched, and then in 2001 their first of several Epicenters was opened in New York, in order to “experiment innovative interactions with customers”.

In 2002, the American headquarters for Prada was opened in New York. In 2003, they partnered with Luxottica for the production of their eyewear and with PUIG Beauty & Fashion Group in order to produce men’s and women’s fragrances. In 2005, Prada released their first promotional film at the Berlin film festival. Then, in 2007 the Prada phone by LG was launched, being the first cell phone that was entirely touch screen. In the following years, Prada continued its collaborative film and animation efforts as a reflection of their interests in all creative fields. Then in 2011, Prada Group went public and listed their shares on the Hong Kong stock exchange. Prada continues to produce luxury goods that combine contemporary sophistication with the highest quality craftsmanship.

Prada is a multifaceted global brand built on the concept of integrating culture and innovative, artistic elements into their products, shopping experience, and overall brand image. We want to push these concepts further through introducing a pop-up store in a new market to drive innovation and relevance to younger consumers. Featuring the store in New Delhi, India aligns with their expansion initiatives, while capitalizing on an emerging market and catering to their growing luxury demands.

S U M M A R Y

P R O F I L E

Miuccia Prada’s creative talent and avant-garde approach attracted the attention of the global fashion industry, while her ability to look at the world from an unconventional vantage point allowed her not only to anticipate, but quite often, to set new trends. Prada has a high reputation among luxury consumers. The luxury group now produces men’s and women’s leather goods, clothing and footwear, combining contemporary, cutting-edge sophistication with one-of-a-kind, sublimely-crafted products. Prada also operates in the eyewear, fragrance, mobile phone sectors and confectionery.

Prada’s products are made in thirteen company-owned sites, eleven of which are located in Italy, one in United Kingdom, one in France, and by a network of external contractors who are carefully screened to assure the necessary standard of craftsmanship, quality and reliability. Each stage of the production process is closely and directly monitored: from the procurement and purchase of raw materials (including external suppliers) to the fabrication of prototypes, and planning and coordination of in-house and outsourced production. By combining attention to detail and quality with a cutting-edge production and a unique identity style, it aims to make each Prada product oneof-a-kind.

Miuccia Prada took over the family owned luxury goods business Prada as chief executive officer and executive director and husband Patrizio Bertelli as chief executive officer. Miuccia Prada also became the founder of its subsidiary Miu Miu. The chairperson and executive director of Prada is Carlo Mazzi. The chief financial officer and executive director is Alessandra Cozzani. Prada SpA is the parent company owner holds 80 percent of the company Prada as well as Miu Miu, Church’s, and Car Shoe. Prada Group is also a parent company owner that holds 20 percent Prada, Miu Miu, Church’s, Car Shoe, and Marchesi 1824.

S T R U C T U R E

B U S I N E S S M O D E L

Prada’s business model is an integrated value chain, and is key to the success, quality and innovation of its luxury house. Design competence and industrial abilities allow the company to consistently churn out high level fashion concepts and generate commercial business revenue. This is all done while maintaining core values and skills to ensure the company is meeting the standards enforced since it was established. Flexibility and cost management are consistent factors that are kept in check, keeping inventory steady and production costs within reason. The group hires about 1,950 in-house employees and 950 for product development, which means much of the products and prototypes are produced within the factories of Prada. All other product is sourced overseas, once the factories in those countries have been approved according to quality standards. In order for everything to consistently run smoothly within the company, all different divisions and teams communicate and work together. This helps to control the skills, details, quality, internal production, outsourcing cost, schedule, and original design of the product.

Business Cycle: 1st stage- design and creation of new collection 2nd stage- collection of orders (showrooms and fashion shows) 3rd stage- sourcing and production 4th stage- sales and distribution 5th stage- communications and public relations

B R A N D PRODUCT

ORGANIZATION

Made in Italy Handbags/accessories High quality and well crafted

Global Public and transparent Italian heritage Innovative Creative (art, culture, cinema, etc.)

Successful/ well known

PERSON Sophisticated/ affluent Classic aesthetic Express themselves through fashion Feminine Intellectual

SYMBOL Logo

M A T R I X

P O S I T I O N I N G

Prada’s brand positioning, or how it is perceived by consumers, experiences slight global variants. In the United States, Prada has long been considered the optimization of a high luxury brand known especially for their leather handbags. However, customer attitudes towards lavish displays of wealth has shifted to become more understated in New York, Shanghai, and beginning in China, specifically. Based on this understated attitude, in the United States, younger consumers view Prada as dated and not as appealing as newer, edgier brands. Feeding into this idea of being outdated is also their lack of a global e-commerce. They use their social media and digital presence to promote the brand’s image and collection, but they are not utilizing it as much as they could. Prada offers a digital catalog for customers in regions such as Taiwan and Hong Kong, but does not list prices. The fear of counterfeit goods in Asian regions hinders this progression.

Prada is overwhelmingly more popular in the Asian market compared to anywhere else, accounting for 54% of total sales in 2014. However, consumers in South Korea view Prada products as overpriced and stores there have been forced to initiate markdowns diluting the brand’s image.

Furthermore, the controversy surrounding where Prada’s products are manufactured also hurt their image. Consumers globally do not wish to buy a luxury priced item that is made in China, which is about 20% of their offering. Therefore, Prada continues to focus on their home region of Italy by opening new stores and controlling their image in that way. With continued innovation and commitment to quality, Prada has opportunity to continue growing in the future.

Prada has invested heavily in the Asia Pacific and China market and are expanding in the Middle East and Africa. The Prada brand ranked 81st in Interbrand’s top 100 most valuable global brands in 2016. The Group’s distribution network extends across 70 countries, counting 622 directlyoperated stores (at July 31st 2016), which form the backbone of the group’s international expansion strategy, and a selection of department stores and multi-brand retail spaces in the most significant cities and stylish locations.

The wholesale channel (department, multi-brand and franchisee stores) guarantees a number additional of points of sale, selected on the basis of their prestigious location on key markets and provides a direct and immediate comparison with the competition. In recent years, this sales channel has been carefully reviewed with the aim of being more selective in order to achieve consistency with the retail network expansion and to maintain the right positioning and international image of the brands.The retail channel generates 87.3% of the Prada Group’s consolidated sales while the remaining 12.7% comes from the wholesale channel. The net sales of directly operated stores (DOS’s) for Prada for the annual report ending January 31, 2016 is 2,487,593 million euros, a 1% increase.

D I S T R I B U T I O N

Prada has a number of promotional strategies when it comes to advertising. Effective communication and public relations strategies are imperative to the brand development strategy to reinforce the unique image of the brand throughout the business cycle. Prada employs a wide array of innovative and brand-specific communication tools, including wellexecuted fashion shows, creative advertising campaigns, in store signage and billboards, fashion films, social media, and events and sponsorships that enhance the brand’s appealing and stylistic image.

S W O T

P R O M O T I O N

STRENGTHS

WEAKNESSES

-Numerous store locations across the globe -Effective marketing strategies -Loyal consumer base with high reputation among luxury consumers and the industry -Heritage brand -Broad brand awareness -Involvement in the artistic community -Prada has tight control of its brands- sells the bulk of products through company owned stores and has a limited wholesale presence

-Use of tech and social media weak -high price point -Underperformance and presence in the US -over exposure of the Prada brand dampened consumer desire.

-Traditional and sometimes ostentatious image

OPPORTUNITIES -Appeal to new markets and customer base -Update core products and include flexible pricing -Expand to emerging markets to increase accessibility

THREATS -Brand fatigue from expansion -Economic volatility in China where they have invested heavily -Rising demand for affordable luxury brands like Michael Kors.

-Brexit affect on rupee value and trade

P L A N S F O R G R O W T H

Prada plans to introduce more lower-priced handbags and double its online business as it seeks to reverse two years of stagnant sales. The Milan-based company also will close stores and narrow the spread on prices of new products between regions to about 10%, strategic marketing director Stefano Cantino said in an investor presentation. Prada plans to double its e-commerce sales over the next two years by increasing the number of categories it offers online, particularly shoes, and expanding its social media activities, Cantino said. Prada doesn’t plan to sell clothing over the Internet, preferring instead to direct consumers to the company’s 618 stores, he said.

It will be on Snapchat Inc. by October, the executive said. Prada says it will expand product categories available online and will be on Snapchat in the fall.

Prada says it’s been hurt by pricing differentials, Chinese stock market volatility and low foot traffic at stores in the region, all contributing to a 16 percent decline in sales. So how will Prada ramp up business in 2016. Its results presentation pointed to a focus on customer experience and digital initiatives. It plans to build out its in-house e-commerce infrastructure, expanding into more countries and expanding the categories available online. “See now, buy now” will continue to be implemented in some capacity, as it was via two handbags at Prada’s fall 2016 show. There will also be a big push for social media projects and other methods of “innovative communication.” Hopefully that will be enough to turn things around in the months ahead.

S T R A T E G I C

With the creation of our pop-up shop our goal is to reaffirm prada as a relevant luxury brand by initiating an intriguing conceptual store design and utilize technology in an innovative way, attracting new and younger consumers. Our strategy to achieve these goals is through promotion of the shop through social media to combat “traditional” brand image. We will design a shop in a location optimized for high visibility and located in an up-and-coming area to create brand awareness in that region. Lastly, we will create innovative and updated styles of core products and integrate flexible pricing to draw in more customers. Overall. our objectives are to expand our customer base and brand awareness in this new market and meet designated sales goals and increase sales revenue as a whole for Prada.

A N A L Y S I S

ECONOMIC

SOCIAL

-corruption in public services continues to be a serious issue -one of the largest democracies in the world -government encourages free business through a variety of programs -A comprehensive legal and regulatory framework has made it possible for business entities in India to grow

-stable, since the introduction of the industrial reform policies in 1991 -GDP of $5.07 trillion in 2013, growth rate of 5% in 2014 -High tax rates, delay in passage of key reforms, infrastructure bottlenecks, high insolvency and -debt recovery status continue to hurt India’s global image

-performance on literacy remains dismal ageing population is resulting in a considerable rise in pension costs and increase in the employment of older workers -a large well educated and Englishspeaking population -The proportion of households with internet-enabled computers increased from 1.6% in 2005 to 12.9% in 2014 and is estimated to further increase to over 20% by 2020

TECHNOLOGICAL

ENVIRONMENTAL

LEGAL

-environmental laws in India are held back by lax implementation -dependence on thermal energy (coal based) -establishments of environmental pressure groups, noise controls, and regulations on waste control and disposal -growing population has placed an excessive burden on natural resources

-The new Companies Act aims to improve corporate governance by introducing a more effective legal and administrative framework: corporate governance is largely driven by factors such as companies’ commitment to the principles of integrity and transparency in business operations.

-minimum wage increase -disability (non)discrimination

P E S T E L

POLITICAL

INDIA

-IT sector is poised to be worth $225 billion by 2020: one of the strongest in the world, promoting constant IT development, software upgrades & other technological advancements -The period between 2010-20E has been declared as the “Decade of Innovation” by the nation -Potential adoption of 12 empowering technologies in India -Hopes to soon launch their satellites into space

STATE OF THE

I N D U S T R Y

While fashion is on it’s course of highs and lows around the world India remains strong and continues to grow in fashion luxury goods. Most rich consumer base in India is indulging in luxury goods for both trendy styles and status. The growth of the Indian economy is on the rise in the smaller cities of the country. There are a large number of wealthy households in smaller cities with aspirations similar to their metro counterparts. With consumers changing their lifestyle trends their helping to grow indian luxury goods which drives more smaller cities consumers to metro areas to shop. The recent slowdown in Chinese luxury goods has also shifted the focus of luxury players to India. The government has also been taking steps to make the process of entering Indian luxury goods easier and these steps are expected to help bring in more luxury brands to the country over the forecast period. The young demographics of the Indian population, strong economic growth and rising income levels over the forecast period are expected to help drive luxury goods.

I N D I R E C T

There are several indirect competitors that could draw customers away from Prada in New Delhi.

Luxury Indian department stores are prominent, such as Aza Fashions and Sahil Fashion Bazar they specialize in high quality traditional garments that are most often worn for special occasions. People are more willing to invest in customary, stand out pieces. There are also numerous low priced fashion stores that offer Western fashion styles. These include stores such as Zara and Promod. The accessibility and trendy nature of these stores frequently bring in customers of many different demographics. Local Markets are also highly prevalent throughout the city. Here people are able to find a wide variety of unique and handmade products, including fashion items, for a low price. There are also other travel opportunities, given the convenient airport, and other experiences that consumers may find more valuable. Overall, while these stores and concepts are not directly competing with Prada, they still influence purchasing behavior that could affect our success in this location.

C O M P E T I T I O N

In 1947 the New Look, by Christian Dior, facilitated the iconic brand we know today. Christian Dior designed his garments from an architect’s perspective and started exclusively with Women’s Haute Couture. The brand is know for having an elegant, structured, feminine aesthetic. Now their products include Baby Dior, fragrances, lipstick, skincare, makeup, men’s, jewellry, watches, and handbags and accessories. Their CEO is Sidney Toledano and the head office is located on 30, avenue Montaigne, Paris, France. Christian Dior Couture is not a subsidiary of the LVMH group, but it’s also controlled by the family-owned Groupe Arnault.

Overall, Dior has 5,000 employees in France and around the world along with 196 boutiques around the world including locations in both Mumbai and New Delhi. For advertising, Dior uses celebrities and utilizes mainly fashion films, magazines, billboards, and commercials. The brand has also done several pop-up shops in cities such as London, Miami, Paris, NYC, Milan.

The French house of Hermès has a history firmly established in saddlery and fine equestrian leather goods. From 1837 the brand begain in a small workshop in Paris. In 1900 Hermes designs haut a courroies, a large bag to carry saddles, and in 1922 a smaller version is first handbag. By 1929 they initiated womenswear and in 1937 designed their iconic first silk scarf.

Hermes is a family business, currently in its 6th generation and produces a vast variety of products including men’s and women’s Ready-to-Wear, leather goods and saddlery, accessories, fragrance, and home products. Hermès products are available worldwide through a network of 307 exclusive stores. 210 that are operated directly, and the brand employs around 12,244 people worldwide.

Their advertisements mostly focus on their silk scarves, handbags, and sometimes feature horses along with a bold, adventurous model. They include celebrities and actors for endorssement and use mobile advertising, online platforms, billboards, magazines, commercials, and fashion films. Their popup store initiatives include Tokyo, JFK airport, New York, Hong Kong, virtual pop up shops (27 countries), and Munchen locations to name a few.

Louis Vuitton was an apprentice at Parisian atelier Monsieur Maréchal and stayed there for 17 years before opening up his own workshop at 4 Rue Neuve-des-Capucines near the Place Vendome in 1854. To protect against duplication Louis changed the logo to beige & red stripes design in 1876. In 1885 the first store opened on London on Oxford Street. He died in 1892, and the company was given to his son Georges. In 1914 the brand opened their biggest store in Champs-Elysees and quickly became a favorite among millionaires and the elite. Today they are a division of LVMH and their most notable products include leather goods, handbags, and trunks with the LV monogram. They have 12 leather good workshops in France, 456 store locations, and 17 factories producing bags and accessories.

Louis Vuitton’s advertising strategies include a celebrity following, print adsvertising in magazines, and billboards in cosmopolitan cities. Some of their pop-up store locations include: Harrods department store in London, the Dubai Mall, Shinsegae Gangnam, Seoul, the new Dover Street Market in Ginza, and Le Bon Marché, Paris, to name a few.

Gucci was founded in 1921 when Guccio Gucci opened a leather goods company and small luggage store in Florence.

Gucci was inspired by London and the refined aesthetic of English nobility. Most of their Italian clients were local horse-riding aristocrats, which lead to the development of their unique Horsebit icon and trademark green-red-green web stripe. 1In 982 Gucci became a public limited company, and leadership passed to Rodolfo’s son. As of 2014, Gucci had 550+ store locations. In 2015 Gucci’s new CEO Marco Bizzarri appointed Alessandro Michele as the House’s new Creative Director who took total creative responsibility for all of Gucci’s collections and its brand image.

Today, the brand is part of fashion conglomerate Kering, which is controlled by French billionaire Francois Pinault and revenue in the first half of 2016 increased by 3.9 percent to €2 billion.

For their advertising they often utilize Instagram, influencers, Twitter, and web campaigns. They also feature print advertisments, celebrity endorsers, commercials, and creative process demonstrations in short videos. Additionally Gucci has done several pop-up shop events. Some of these include: a sneaker store in London’s Covent Garden, a space at Selfridges Oxford Street, London, store in Boon the Shop, a fashion boutique in the upscale district of Cheongdam-dong, southern Seoul, and stores in all Dover Street Market locations (New York, London, Tokyo, and Beijing).

C U S T O M E R DEMOGRAPHICS

PSYCHOGRAPHICS The New Generation: -Age: 18-30

India’s Population: 1,266,883,598 (July 2016 est.)

Age Structure: 0-14 years: 27.71% (male 186,420,229/female 164,611,755) 15-24 years: 17.99% (male 121,009,850/female 106,916,692) 25-54 years: 40.91% (male 267,203,029/female 251,070,105) 55-64 years: 7.3% (male 46,398,574/female 46,105,489) 65 years and over: 6.09% (male 36,549,003/female 40,598,872) (2016 est.)

-Loves waking up to the benefits of fitness and wellbeing, high use of technology -Rising Disposable Income

-Health and Fashion conscious, receptive to new trends -“Juice Junkies” & “Athletic-Fakers”

Sex Ratio in Delhi: 866 females per 1000 males

The Adventurous Traveler:

Population Growth Rate: 1.19% (2016 est.)

-Travel abroad for business and tourism

Urbanization: urban population: 32.7% of total population (2015) rate of urbanization: 2.38% annual rate of change (2010-15 est.)

-Age: 21-60

-Inspired and exposed to fashion trends around the world

-Loves to spend holidays in exotic destinations and frequently invests in luxury fashion

-Higher Disposable Income

-Embraced by the Young Generation City Population: NEW DELHI (capital) 25.703 million Family Size: As per 1991 census, the average family size is 5.06 persons. The highest number of families i.e.

50% are in the category of 3-5 persons and the lowest 9% in the category of 9 & more persons. The family size in urban areas is 4.99 persons in comparison with rural family size of 5.90 persons. Details are in table 3.9 Income: People in Delhi earn nearly three times more than the average Indian, and the state’s fiscal deficit — the government’s total expenditure exceeding the revenue that it generates, minus money from borrowings — is at a negligible half per cent.

The Rural Consumer: -Age: 35-50

-Aspirational

-Only purchase branded high quality products -Health conscious and Image conscious -Family Oriented

T R E N D S Behavioral Trends: Health and Wellness on the rise Cosmetic Surgery on the rise Public Holidays, Celebrations and Gift Giving Late-Lifers drive a new wave of business Adventure Holidays Urban Professionals take up cycling

L O C A T I O N Fashion Trends: Chokers Like You Never Seen Them Before Velvet Comeback Handbag Styling Ruffles on Ruffles Delicate Lacing Purple Paradise

The Prada pop- up store will be located at 4, Nelson Mandela Road, Vasant Kunj, New

Delhi, Delhi 110070, India in front of Emporio Mall. This space has 1,000 square feet and we be active for 2 months . This location is central to the geographical location for the Indian or tourist consumer who does not have accessibility to a Prada physical store or if their in town just for a vacation in the most high-street shopping mall part of New Delhi, India. We feel it is essential to our initial and ongoing success that we locate ourselves in the heartbeat of the most expensive malls in the country. We also strive to create an atmosphere of acceptance and community, as well as a retail environment where individuals can identify and bond with their culture. All business deliveries and shipments will be handled through the store. The company office will also be housed at this location.

A R E A F A C T O R S

DLF Emporio Mall is situated in Vasant Kunj, New Delhi. It is also one of the most expensive malls in the country with rental rates of Rs.900-Rs.1,000 per sq. ft. per month. This mall is said to be amongst the most luxurious in Asia. It has five floors and comprises an area of 320,000-square feet. It features over 170 brands including 75 International brands, brands like H2O Cue, Harry Winston, Hugo Boss, Janavi, Jimmy Choo, JJ Valaya, Johnson Watch Co., Judith Leiber. Many college students and teenagers who are fashion conscious are spotted shopping here. This mall provides a lot of parking space to the visitors. It is very well designed and the interiors of the mall are very beautiful. The mall opened in August 2008. It is very well maintained by the mall authorities.

Management Team Amala Johar, general manager will be responsible for all administrative functions, purchasing, inventory control, and promotions. She will also act as a part-time sales representative. She has spent over 10 years in accounting, finance and operations management. She was also the general manager of Gucci retail store for three years. She has extensive background in purchasing, inventory control, and marketing.

Personnel Team There will be one full-time employee and two part-time employees working 20-30 hours per week. The full-time employee will be paid at a rate of $10.00 per hour and the two part-time employees will be paid at a rate of $8.00 per hour. There will also be a security guard present during hours of operation.

In order to process transactions effeciently, we will be using Square.

By using this we will have a POS system and the ability to perform mobile transactions and print receipts. This system is extremely easy to use for sales associates, cost effective, and convenient for the customer.

The area surrounding the Emporio Mall provides experiences and shopping opportunities for consumers. These include various stores in and around the mall and the DLF Promenade Mall and the Ambience Mall, less than a mile away. The Monsoon Salon & Spa nearby offers a different type of luxury experience. Also, area landmarks such as Qutub Minar, Hauz Khas Village, and Chhatarpur Temple draw tourists. Additionally, there are various private tours available nearby including Travelogy India and Amit Tours along with dining experiences like Saffron Palate. The Emporio Mall is located in a luxury, up-and-coming area that is frequented by locals and tourists alike.

The direct competition in terms of Prada’s core products is mostly the stores located in the Emporio Mall. There are also several traditional Indian stores that carry high quality saris similar to the products we are offering. However, with the unique store design and launch event Prada is still able to attract many customers.

Handbags and SLG’s Hermes Roberto cavalli Longchamp Louis Vuitton Fendi Giorgio Armani Gucci Bottega Veneta Sunglasses Sunglass Icon (by Sunglass Hut) Gucci Fragrance La Prairie Roberto cavalli Fendi Giorgio Armani

Shoes Salvatore ferragamo Christian Louboutin Bottega Veneta Bally Sarees/Saris AMPM Anita Dongre Ashima Leena Falguni and Shane Peacock Gaurav Gupta Janavi Judith Leiber Kotwara Rohit Bal

P R O D U C T The product that will be carried in the pop-up store includes handbags, small leather goods, shoes, sunglasses, fragrances, and saris. There will be a mixture of core items and some from the latest collection. We wanted to focus on the best selling items with a range of price points that allows for more accessability. The northern region of India is famous for producing ornate saris such tanchois, amru brocades, shikargarh brocades and tissue saris. So in order to incorporate the Indian culture, a sari collection is very important. In order to accomplish this, we will collaborate with the artists Rimzim Dadu and Swati Kalsi. With the artistic local element and traditional culture mixed with the luxury image of Prada, numerous customer segmentations will be enticed to visit the store.

Category

Style

Avg. Price

Sari

Artist 1 Artist 2

137,156 INR ($2,000)

Satchel/totes Crossbody Backpack Wallets Wristlets Cardholder

large: 102,867 INR ($1,500) small: 34,289 INR ($500)

Black, White, Tan, Pink, Blue, Red

Heels Platforms Boots

61,720 INR ($900)

Black, White, Blue, Red, Metallic, Brown

Fragrance

Candy Les Infusions Eau de Parfum

6,172 INR ($90)

Sunglasses

Cat-Eye Baroque Round Round Aviator

Leather Goods

Shoes

27,431 INR ($400)

Color

Black, TortoiseShell, Silver, Ombre

A R T I S T S RIMZIM DADU & SWATI KALSI

Rimzim Dadu and Swati Kalsi are Indian Sari artists reinventing traditional textiles used in Saris. Dadu uses silicone sheets and cuts them into fine threads to weave and Kalsi incorporates innovative embroidery and pieces of old cloth and other materials to create texture. These innovative young, local artists would be ideal to create unique saris only available at Prada.

PRODUCT EXAMPLES

D E S I G N INSPIRATION

The design of the pop-up store embodies the concept of Indian luxury: drawing inspiration from ornate, colorful, and eye-catching interiors and textiles. From the outside, large palace-like domes will capture the attention of the public. The customer enters through large, decorative doors leading into a long hallway with Prada goods displayed on shelves and round tables. As the customer explores and makes their way toward the back- there is the sari room. A casual area with plenty of seating and areas to try on as many saris as they please. They will be presented on the shelves and the middle table, to set a relaxed tone. There are comfortable seating areas in the back areas with a good view of the TV screens.

The doors are able to be locked at night providing a secure, luxurious environment.

FLOOR PLAN

L A U N C H

For our grand opening of the pop-up shop in October, we will host a casual tea party event for all who attend. Local influencers will be there along with our featured artists we collaborated with. They will be there to talk about their designs, interact, and fit the customers personally. There will be music and a photographer to document the experience. This event will attract attention from locals and help foster a personal relationship between the local customers and the brand, that will set the tone for Prada’s future in India.

E V E N T

P R O M O T I O N

In terms of our promotional plan we will stick to the advertising strategies Prada already has in effect, which is creative advertising campaigns, events and sponsorships, billboard and in-store signage, social media, and fashion films. Our advertising campaign will consist of Prada’s 2017 Autumn/Winter collection imagery on a billboard in the area and videos that will be played in store. The videos will consist of Prada runway shows and also behind the scenes footage of the artist and the store creation. There will also be our signage inside the mall itself. On our social media outlets, which will primarily be Instagram, since that is Prada’s main social media platform. Instagram is an ideal platform to create buzz for our new presence in New Delhi. We will create a hashtag for the campaign which will be #NowInNewDelhi, with this hashtag will continue to stick with images and videos as well as GIF’s. The local influencers we invite to the launch, such as Rhea Gupte, will also provide another form of advertising. By utilizing both traditional and social media strategies, we will spread awareness and excitement for the store.

F I N A N C I A L

ASSORTMENT

P L A N

C O S T I N G

C O N C L U S I O N

Overall opening a pop-up store in New Delhi, India would be a successful initiative for Prada. By integrating the local culture and facilitating a unique experience, the brand will create new relationships in the region. Reaching out to younger consumers and becoming more focused on their consumers desires as a whole, were a main focus of this event. Capitalizing on unique initiatives will reaffirm Prada as the innovative, artistic brand it encapsulates.

FASM 410: ALESSANDRO CANNATA

AMBER NASH CALLOWAY KANDT ELIZABETH FUCCI JOCELYN NORRIS