table of contents I COMPANY PROFILE Design Philosophy Mission & Vision II BRAND OVERVIEW History Timeline Scope & Size Target Market III COMPETITIVE MARKETPLACE Swot Analysis Social Media Presence Competitors
IV FASHION TRENDS V LIFESTYLE & TECHNOLOGY TRENDS VI BUYING PLAN 6 Month Buying Plan Assortment Plans Final Statement
Authors Elsa Maria Lobo Ines Aldana Rafaella De Guzman Maria Santa Maria
company profile
BCBGMAXAZRIA is committed to provide sophisticated and modern clothing that addresses all aspects of a woman’s lifestyle and lets her feel confident and beautiful. BCBG designs pieces that are luxurious and chic that can be dressed up for any occasion at affordable prices. With attention to detail, they design to enhance and encourage their customers’ self-expression through style.
design philosophy
MISSION To inspire women to feel beautiful, confident & empowered. VISION To design clothes to help today’s women dress for the life she’s always imagined at prices she can afford.
mission & vision
brand overview
1989 Max Azria launches BCBGMaxAzria
1990 Brand’s first catalog is distributed
1991 Lubov Azria joins the company
1992 The first BCBGMaxAzria opens in Brentwood, CA
1995 The first international boutique opens in Montreal Azria is awarded Cali Designer of the Year
1997 BCBG.COM launches
2004 Max Azria Atelier line of gowns is introduced
2010 Launch of bridal collection
1996 BCBGMaxAzria debutes at NYFW Lubov Azria becomes creative director
2014 BCBGMaxAzria celebrates 25 years with retrospective exhibition
history timeline
- Present in over 40 countries - More than 570 boutiques worldwide & 175 in the US - Shop-in-shops in major department stores (Saks Fifth Avenue, Neiman Marcus, Bloomingdales, Macy’s, Lord & Taylor, Net-A-Porter, London’s Harvey Nichols, and Lane Crawford) - Around 600 employees - Annual Sales $236,224,027.00 - As in winter of 2017, BCBG declared bankruptcy meaning these numbers may shift.
scope & size
target market
AGE: 25 STATUS: In a relationship She lives in New York City, working in one of the permanent missions to the United Nations. Due to her job she wants to look professional, but she also has a desire to wear trendy clothes that reflect her savvy and fashionable attitude. She likes to buy the latest fashions and match her designer accessories but with precaution because she can be a shopaholic. Olivia is a very sociable person so on the weekends she dedicates time to her loved ones. If she goes to a date with her boyfriend, they are always spotted at ABC Kitchen or a trip to the movies. On a Sunday morning she enjoys going to her yoga routine and afterwards she walks her dog through Central Park, with the desire of not only the well-being of her Yorkie but also to amplify her social circle. During her vacations she likes road tripping or perhaps a trip to her hometown in Mexico.
OLIVIA CABRERA
BARBARA COHEN AGE: 60 STATUS: Married Barbara lives in LA, California where she is a fashion journalist and publicist. She has a classic, minimalistic style but also edgy. She wants versatile clothing that will make her feel confident and empowered. She is dynamic, thoughtful and traditional; when buying a product she always checks reviews before any purchase. She is savvy and knows every current trend on the market but she is not greatly influenced by them. She prefers to stay in an orthodox routine. On her normal day she comes home from work and sits in her living room with her husband and watches TV and reads articles from: Business of Fashion, WWD, and Business Insider. On weekends she does Pilates, jogs around Lake Balboa, and goes grocery shopping.
CAM CHUNG AGE: 38 STATUS: Single Cam is an interior designer living in Miami, FL. She also is in charge of the interior design of the expos in the Miami Art Basel. Her personal style is bold but classy and she usually wears dark colors or earthy with a touch of white. She is a perfectionist; goal oriented and is committed to her family and job. When buying products she is very conscious about the quality and durability. Cam has a type “A� personality therefore a to-do-list is what keeps her life going. She is very selective when choosing people on her social circle. On her daily routine she works on her studio until 8:30 pm, walks her French bulldog and does some meditation before going to sleep. Her normal weekend includes a trip to the movies with her close friends, dinner in Toro Toro or Zuma and a calming shopping session.
Experiencers Thinkers Achievers
Experiencers · Buys before thinking · Very trendy and fashion forward · Believes that being social is the most important · Loves adventures Thinkers · Are financially established · Not influenced by major trends · Thoughtful and traditional · Researches before buying a product Achievers · Perfectionists · Goal oriented · Peer conscious · Fully committed to their job
vals profile
competitive CCmarketplace
S
trengths
- Combination of European fashion and American spirit - High quality products at affordable prices - Strong customer service - Brand loyalty - Customers can wear a BCBG garment at any time of the year - Omnichannel retailing strategy (ecommerce and physical stores) - Handmade details & craftmanship in garments
W
eaknesess
- Official website does not reflect brand identity - High increase in markdowns reflect the company’s financial struggle - Complicated size guide for incoming customers
O
pportunities
- Develop an application to facilitate access for ecommerce customers - Collaborate with fashion designers to reach new customers - Reduce its focus on brick-and-mortar shops, concentrate on licensing, e-commerce and selling through other retailers - Reinvigorate product into the right direction
T
hreats
- Customer demand for fast fashion - Aggressive competition in today’s shopping environment - Overall weak economy in the fashion industry
social media presence
520,955 Likes
price
quality
competitors
brick & mortar ANN INC - “To inspire and connect with our clients to put their best selves forward every day� - Similar price range - Similar target customer Alice and Olivia - Similar product range - Prices are higher - Similar product quality - Higher prestige BEBE - Similar product category - Lower price range - Similar product quality - Similar target customer
Michael Kors - Similar price point - Similar product quality - Higher brand recognition Diane Von Furstenberg - Higher price range - Similar product quality - Higher brand recognition Tory Burch - Higher price range - Similar product quality - Higher brand recognition
e-commerce Boohoo.com - Similar product categories - Lower price range - Active on social media
ASOS - Collection of world famous brands - Major retailer of fashion and beauty products - Interactive ways to shop online - Innovative ways to display merchandise to customers
fashion trends
athleisure
bomber jacket
asymmetric top
belted jumpsuits
rough cuts
floral printed dresses
lifestyle & technology trends
ACTIVISM WILL BE CHIC - Fashion is being used not only as a medium of self-expression but it has become a tool to convey political ideologies. - Current activism campaigns: “We should all be feminists” “Black lives matter” “We are all immigrants”
- Offer customers experiences that can’t be replicated online - Causing retailers to constantly change physical spaces to give clients a reason to go to stores - Including smart mirrors in fitting rooms
EXPERIENTIAL SHOPPING
INSTAGRAM ADVERTISING - Instagram allows brands to reach global customers with in-between story and sponsorship advertising - 40% of consumers respond better to visual information than plain text
- Same speed as human sewer - Robots do not need breaks - Rarely subject to error - Could help reduce expenses
SEWING ROBOT
buying plan
FALL 2017 Plan Net Sales, Fall 2017 Est. Net Sales, Fall 2016 Plan % Last Year: Average Stock, Retail: Inventroy Turnover Planned Reductions, $: Reductions % Sales: Plan IMU%:
26250.0 35000.0 25.00% Decrease 13020.0 2.02 5250.0 20.00% 57%
FALL 2017 000’s Net Sales % Fall Plan BOM Stock Stock / Sales Ratio Plan EOM Stock Plan Reductions % Fall Purchases, Retail Purchases, Cost
August 3675.0 14.00% 12127.5 3.3 13702.5 420 8.00% 5670.0 2457
September 4725.0 18.00% 13702.5 2.9 13440.0 787.5 15.00% 5250.0 2275.0
October 4200.0 16.00% 13440.0 3.2 14175.0 787.5 15.00% 5722.5 2479.8
November 4725.0 18.00% 14175.0 3.0 15015.0 1155.0 22.00% 6720.0 2912
December 5775.0 22.0% 15015.0 2.6 11340.0 1312.5 25.00% 3412.5 1478.8
January 5775.0 22.00% 15015.0 2.6 11340.0 787.5 15.00% 3937.5 1706.3
FALL 2017 24250.0 100.00% 13020.0 5250.0 100.00% 30712.5 13308.8
FALL 2017 Plan Net Sales, Fall 2017 Est. Net Sales, Fall 2016 Plan % Last Year: Average Stock, Retail: Inventroy Turnover Planned Reductions, $: Reductions % Sales: Plan IMU%:
000’s Net Sales % Fall Plan BOM Stock Stock / Sales Ratio Plan EOM Stock Plan Reductions % Fall Purchases, Retail Purchases, Cost
250.0 238.1 5.00% 123.1 2.03 50.0 20.00% 57%
August 30.0 12.00% 102.0 3.4 119.0 4.0 8.00% 51.0 22.1
September 42.5 17.00% 119.0 2.8 120.0 7.5 15.00% 51.0 22.1
October 40.0 16.00% 120.0 3.0 130.5 7.5 15.00% 58.0 25.1
November 45.0 18.00% 130.5 2.9 136.5 11.0 22.00% 62.0 26.9
December 52.5 21.00% 136.5 2.6 124.0 12.5 25.00% 52.5 22.8
January 40.0 16.00% 124.0 3.1 130.0 7.5 15.00% 53.5 23.2
FALL 2017 250.0 100.00% 123.1 50.0 100.00% 328.0 142.1
MIAMI LINCOLN RD STORE PLAN
NYC 5TH AVE STORE PLAN
FALL 2017 Plan Net Sales, Fall 2017 Est. Net Sales, Fall 2016 Plan % Last Year: Average Stock, Retail: Inventroy Turnover Planned Reductions, $: Reductions % Sales: Plan IMU%:
000’s Net Sales % Fall Plan BOM Stock Stock / Sales Ratio Plan EOM Stock Plan Reductions % Fall Purchases, Retail Purchases, Cost
840.0 800.0 5.00% 333.3 2.52 168.0 20.00% 57%
August 117.6 14.00% 305.8 2.6 347.8 13.44 8.00% 173.0 75.0
September 151.2 18.00% 347.8 2.3 336.0 25.2 15.00% 164.6 71.3
October 134.4 16.00% 336.0 2.5 362.9 25.2 15.00% 186.5 80.8
November 151.2 18.00% 362.9 2.4 388.1 37.0 22.00% 213.4 92.5
December 184.8 22.00% 388.1 2.1 292.3 42.0 25.00% 131.0 56.8
January 100.8 12.00% 292.3 2.9 300.0 25.2 15.00% 133.7 57.9
FALL 2017 840.0 100.00% 333.3 168.0 100.00% 1002.2 434.3
Assortment Plans Planned Purchases, Retail : 30,712,500
Sizes 0 2 4 6 8 10 12
%
Total 10% 15% 20% 20% 15% 10% 10% 100%
$
Purchases $3,071,250 $4,606,875 $6,142,500 $6,142,500 $4,606,875 $3,071,250 $3,071,250 $30,712,500
%
Classification Total Dresses 20% Coats 10% Jackets 15% Woven Shirts 10% Skirts 15% Knit Wear 10% Pants 15% Other 5% 100%
$
Purchases $6,152,500 $3,071,250 $4,606,875 $3,071,250 $4,606,875 $3,071,250 $4,606,875 $1,535,625 $30,712,500
Classification of: Dresses Gowns Cocktail Casual Work Lace High-Low Special Ocassion Little Black Dress
Total Purchases 15% 30% 10% 10% 10% 5% 10% 10% 100%
$921,375 $1,842,750 $614,250 $614,250 $654,250 $307,125 $614,250 $614,250 $6,142,500
Jackets Blazer Bombers Leather Capes Vests Performance Cropped
Total Purchases 30% 15% 15% 15% 10% 5% 10% 100%
$1,382,063 $691,031 $691,031 $691,031 $460,688 $230,344 $460,688 $4,606,875
final statement
This buying plan for BCBGMAXAZRIA concludes with a factor of risk. In recent years changing consumer habits have beset the fashion industry. Including a general shift away from brick and mortar into online retail channels, which has significantly affected brands like BCBG. The brand’s current financial situation leaves them on a stage of uncertainty. We as a buying team think that there is an opportunity for BCBG to progress and succeed; the key is to get their products in the right direction. BCBG’s future depends on getting back to quality merchandise that will make a difference.