UNIVERSITY OF SOUTHAMPTON Winchester School of Arts
The Fashion Market:
A/W 13/14 Fashion Trend Creative Direction & Market Report for Paul Smith Menswear Written by - Mengxuan Zhang Degree of Study – BA Fashion Marketing Date Submitted – 14/01/2013
Word count: 4,382
ABSTRACT Before producing apparel and launching it in the market, it is crucial that the trends are anticipated. The macro trend in the specific market environment should be analysed to develop a fashion micro trend, which focuses on the garment, including its fabric, texture, print, and silhouette. In addition, the economic environment and the competition should be taken into consideration before launching a new collection. An analysis of the market environment and the positioning of Paul Smith are required for the purposes of assessment. This essay provides an outlook on the fashion trends for the F/W season 13/14. Brand value, brand position, positioning strategies, and competitors of Paul Smith men’s are studied, in order to provide a detailed plan for launching the new Paul Smith menswear collection. The pricing strategies for the collection will also be examined, as well as the promotion and distribution strategies.
Table of Contents 1.
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3. 4. 5. 6.
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8. 9.
MICRO TREND AW13/14 1.1 From MACRO to MICRO 1.2 AW 13/14 Menswear Creative Direction 1.21 Mood 1.22 Colour Forecasting 1.23 Fabric Trend 1.24 Print Pattern Trend 1.25 Silhouette 1.26 Key Styles 1.27 Design Ideas MARKET REPORT 2.1 Company Overview 2.2 Brand Identity 2.3 Brand Position& USP 2.4 Marketing Environment 2.5 Competition & Differentiation 2.6 Value Proposition & Opportunities 2.7 Consumer Profile RANGE CONCEPT RANGE PLAN FIANCE PLAN MARKETING ACTIVITIES 6.1 Promotion &Communication 6.2 Distribution APPENDIX BILIOGRAPHY IMAGE REFERENCE
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MICRO TREND AW13/14 1.1 From MACRO to MICRO The Macro trend of the forthcoming A/W 2013, Bloom of Natural-science, transfers the connection between the power of nature and science, and how beauty, technology and nature rebuild relationships to better our lives. In this digital downtime, they are now holding the concept of a living made simple through minimal use of technology and longing for a balanced life between 2D and 3D. Tying in with the bloom of natural-science trend, the fashion industry explores the crossover of nature and technology for simple completeness, which will be amplified to unprecedented design aesthetics of colour and texture. In the meantime，the impact of recovering the memory has been heightened, the key word ‘trans-natural’ will be a hit and direct new trends of fashion. Colourful soft lines, organic textiles with a simple cut will dominate the season. People will be passionate about imaginative prints and molten textures, while regular geometry will be considered to have faded away into the distant past.
1.2 AW 13/14 Menswear Creative Direction 1.21 Mood Reminiscence
Euphoria
For most of us, the memory was dim and distant. Drawing inspiration from the Night Paintings of Paul Benney, the concept of reminiscence focuses on natural colours and burred effects, and how they reflect the mingling relationship between the past and the present. The sense of euphoria represents the optimistic and positive significance of modern sensibility. This design concept can be adopted on photo-real and tye-dye prints to illustrate vibrant colour effects with chic styling. Distressed leather, denim, composite wool fabrics can be combined together using succinct tiered silhouettes to create a bold, masculine appearance.
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1.22 Colour Forecasting In line with the macro trend, the primary colours in this season are gentle, soft-focus tones mixing with bright-coloured embellishments. The colour palette highlights the profound, hazy, delicate and elegant aesthesia. Mild neutral colours such as earth tone, dark brown, camel, smoky gray, dark green, fuzzy navy blue and smoky green will be applied to perform a sense of quietude and tranquility, while the highlighted and strong saturated colours will be used to shape intense and lively atmospheres, and to form a contrasting colour contouring in the palette. Burnished and metallic colours like light violet blue, turquoise, red, tangerine and sun will functionally bring a beautiful and novel adjustment to the colour combination of the season.
1.23 Fabric Trend Fine-grained Texture Fine-grained fabrics including denim, rolled chino, tweed, brushed wool, and duffel bring the interpretation of retro structure and contemporary style. Specifically, the optical illusion effect of blurred rough textures gives people a modern look; Wool blend twills unfold a rough style; Taiga Leather, thick, laminated denims are laden with the sense of nostalgia. High-Shine This series of fabrics and materials are elaborated synthetic leathers that give an exciting and fantasy visual effect. Materials such as Oil slick leathers, oxide-coated leathers, polished leathers, metallic fabrics, shiny nylon, and foil print fabrics possess burnished colours that create an aristocratic luxurious beauty, whilst making the wearers look youthful and vibrant. Additionally, shiny silks and satin garments, which foil a noble, yet slightly girly temperament, can also add some flare to the latest fashion. Distressed Surfaces Distressed cotton textile, pleated fabrics, and winter flax that have natural gradations and unique textures, are comfortable, breathable, and often environmental friendly. Distressed fabrics with some loose clipping create a relaxed and comfortable atmosphere that reflects the impact of pacifism in the modern society, while recycled fabrics and latest innovative technical materials, which carry a quirky touching, will add a further directional edge in the fashion industry. Texture Combinations Matching fabrics with different textures or thickness to feature some structured tiers and designing for clothes becomes increasingly trendy. Different fabrics or colours can interact to one another and therefore create variety of quirky stitching designs; for examples, brushed wools match with leathers or denims; cotton pairs with plaids or corduroy; and solid colour fabrics mix with suede or pattern fabrics. Moreover, contrast pockets, cuffs, and collars, and elbow patches will increase attractiveness of performance wears whilst making them interesting and provide some fascinating contrasts.
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1.24 Print Pattern Trend Photoreal The trend of using photorealistic patterns received significant attention from the adoption of universe prints. The photoreal prints in this season focus on expressing colours and emotions, which were inspired from natural elements such as flowers, leaves, mountains, ocean, snow and so on. Nature landscapes and imagination are combined to produce passionate and attractive prints on clothes to state an exotic theme. Asymmetrical Tye-dye and Merged Pattern Intricate Tye-dye, dip-dye and ombre prints, which perfectly express the charming of nature, will re-command great attention in this season. With the inspiration of minimalist style from the time of art nouveau, those merged patterns and ikat-haze prints illustrate the expressive force of images with picturesque significance, and are also driving a move away from the traditional regular geometrical pattern. Oriental Floral Retro styled floral prints or embroidery elements are elegant, glamorous, and embody a unique oriental and intellectual beauty. The kind of feminine print gives another breath to men’s fashion. Linking to the macro trend, the innovative floral pattern combines the free-formed plants and traditional printing, which generates new prints to add some girlish look to menswear.
1.25 Silhouette Double Layers Double-layers add design interest to jumpers, jackets, and coats.
Ovoid & Rounded-shoulder The streamlined tailoring and comfortable volume silhouettes offer strong performance to functional outwear, whilst adding buzz and increasing fashionableness. The design of round shoulder enables garments having smooth lines.
Boxy Volume
Slim-fit
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1.26 Key Styles
Androgynous The direction of girly looks marks a brand-new practical dressing style for men. In this day and age, differences between the sexes became less obvious and homosexuality is being more accepted by people. Many openly homosexual designers and artists are gradually changing our aesthetic views, while the androgynous trend also boards the stage of design.
3D urban structuralism From wines to clothes, people are calling for structures to replace oneness due to the increasing influence of 3D. Tiered jumpers, structured blazers, flared tops, and 3D textured ruffle jackets are good examples to illustrate this type of looks.
Futurism As a social movement in the early 20th century, futurism has been spread by many kinds of carriers such as music, films and literatures. One of the crucial carriers is fashion. The futuristic design is often expressed by metallic materials, metal colours, exaggerated details and tridimensional cutting.
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1.27 Design Ideas Mixed Fabrication
Faded-wear
Pleated
Contrast Details
Cuffed Trousers
Collarless
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2. MARKET REPORT 2.1 Company Overview Paul Smith is a London-based designer who is known for putting a twist on classic preppy looks. Having abandoned the dream of becoming a professional racing cyclist at the age of 17, Sir Paul Smith stepped into the fashion field and started learning tailoring through evening classes. He then established the first boutique in his hometown of Notting Hill in 1970 with his girlfriend Pauline Denyer, who became his wife on the day Smith was knighted by Queen Elizabeth II on 24 November 2000, Smith introduced his menswear collection with the label of Paul Smith in Paris in 1976, soon the market expansion developed upon the reputation gained from his significant multi-stripe. The traditional clothing with Whimsical touches using excellent materials and tailoring made him a great commercial success, and the company quickly evolved to include womenswear with a British casual style in 1994. Today, its products sell in more than 2,257 stores and concessions over the world (Jones, 2010), and 674 of them are in Japan, the biggest international market for Paul Smith (Morley, 2006). The company is active on collaboration and developing subculture products in and outside the fashion industry, such as Paul smith & Mini Cooper, Paul Smith & Barbour, and Swami's & Paul Smith. Several product ranges have developed to fulfill different levels in the market, which include a main line Paul Smith, Paul Smith Women, PS by Paul Smith, Paul Smith London, Paul Smith Jeans, Red Ear, R. New Bold (Japan Only), Paul Smith Shoes, Paul Smith Fragrance, Paul Smith Watches, Paul Smith pens, Paul Smith Furniture and Things etc. Mr. Smith brings forth new ideas every season, and all of his garments are designed in London with materials and fabrics from the UK or Italy to ensure the quality and its British fashion traditions.
2.2 Brand Identity The core value of the brand is to inject a rebellious spirit on classic fashion. As an English iconic brand, it is somewhat proper and traditional, however, it still has the artistic flair and a modern touch in the form of super bright stripes, loud prints, contrasting colours, and sharp tailoring to make it stimulating. Simple, wearable, and stylish are Smith’s essence design ideas. There is nothing about superficial luxury; Smith indicated that his garments are not designed for catwalk shows but to be worn by consumers.
2.3 Brand Position& USP The lifestyle and retail fashion house, Paul Smith, is mainly segmented as the premium elite fashion, and targets urban men and women with similar lifestyles, and principally from the upper class, so that its stores often sit in the heart of a city’s bustling centre or in department stores such as Selfridges, Harrods and Harvey Nichols. Its main line Paul Smith men’s offers ready-to-wear products within designer market, which also have been demonstrated on catwalk shows every season. Paul Smith positioned itself as a lifestyle indicator and its products are considered to be more silent, wearable, and least vain compared to brands that are seemed to be
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‘pure luxury’. With the USP of ‘Designer brand with artistic and futuristic styles+ upper class Savile Row tailoring heritage+ personality of Paul Smith’, it is also a celebrity brand in Japan where the company made up 80% of its profit (Morley, 2006). The menswear label is positioned to be the high end of the company, which offers decent quality of products and services, wide product segments, and accessible locations. With a premium pricing strategy, it has higher price ranges than that of other sub-labels to attract consumers from the premium market. This aims to maintain the brand value of Paul Smith and to attract the high-end customers. For example, the price range of Paul Smith menswear aw 2012 was from £149 to £1739, while that of Paul Smith jeans was only from £60 to £525.
2.4 Marketing Environment The macro market environment has a direct impact on the sales of a new collection. According to the marketing theory outlined in Marketing Management, by M. C. Cant, J. W. Strydom, and C. J. Jooste (2009), it is crucial to estimate and to identify the market environment, as well as to define opportunities in the market, in order to plan suitable strategies to meet the competition. Based on the current situation in the design market, it is anticipated that the new Paul Smith menswear collection will obtain sustained sales and receive good responses from customers. One reason for this is that, nowadays, men pay more attention to their outfits. At the same time, there is more room for the men’s apparel market, as the market for women is more mature and developed. Specifically, according to research conducted by MarketLine, the menswear market will exceed $402 billion in 2014, representing a market expansion of over 14% in five years. Other data estimates that the global menswear market will have a value of $430,415.2 million by 2016, representing an increase of 13.9% since 2011. Most companies in the premium market are similar. Typically, they are the designer’s own brand, have brand history and heritage, have accumulated reputations, and offer good quality products and services. To increase the uniqueness of the brand, as compared to the competition, the macro environment should be taken into consideration, as the development of the macro environment has a significant impact on the micro-environment, as well as working in the market (Cant, Strydom& Jooste, 2009). First, people's aesthetic standards have become more aggressive, which leads to a great many new entrants into the designer market. The new entrants offer the same high level of quality and services with a good selling point, but with more up-to-date fashions when compared to older designer brands. Therefore, the new Paul Smith menswear collection must also include more cutting-edge fashions. Meanwhile, the economic downturn also affects the apparel market, the increasing polarisation across apparel as people’s purchasing choices tend to be extreme. The Increasing polarisation of consumer buying behaviours has occurred across apparel markets (Euromonitor, 2012). They buy value products with extremely low prices, or long lasting, high-quality products with premium prices. Hence, Paul Smith menswear should maintain its usual high product quality, to sustain its power to attract those people who buy into quality. With the development of science and technology, varies channels, such as mobile phones and iPads, are also being used for brand merchandising.
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2.5 Competition & Differentiation The companies in the comparables analysis were chosen according to the similarity of the market level, product offering and target consumers. The main competitor of Paul Smith is the Armani group. The market coverage of Armani is more comprehensive. Its price point varies from its low-end Armani Exchange line, to its top line, Giorgio Armani, targeting customers of different backgrounds. The most similar line to Paul Smith menswear is Armani’s high-end RTW collection Emporio Armani. However, Armani’s reputation in the high-end market has declined slightly, as it now targets not only high-end customers, but also nearly all customers. When compared to Paul Smith, Armani provides a more customised service. For example, Giorgio Armani provides a service by personalising suites to high-end market customers. Further, Armani has a wider product range, presenting customers with a large number of choices in each collection. Another competitor of Paul Smith is Hugo Boss, whose brand positioning and pricing strategy is very close to those in Paul Smith. Hugo Boss provides customers with wider product segments in menswear, as it has many collections, such as leather and fur outerwear, to which Paul Smith does not pay significant attention at present. However, the Hugo Boss garment styles and targets are slightly different from those of Paul Smith. In the high-end market, one of Paul Smith’s competitors is Dolce & Gabbana. Dolce & Gabbana’s brand positioning has increased, as, in 2011, it fit the D&G collection into the main collection, to increase concentration. Nevertheless, Dolce & Gabbana is not Paul Smith’s main competitor, as it has more urbanised product styles with comparatively high prices. In the low-end market, a competitor of Paul Smith is Zara. Although Zara’s designs are very close to the designs of certain premium brands, its quality and price points are significantly lower. It is an indirect competitor of Paul Smith and mainly targets high street customers.
2.6 Value Proposition & Opportunities Based on the macro environment and an analysis of the current market situation, including Paul Smith’s premium price strategy, good quality and services, and quirky styles, as well as the competitive advantage of being a heritage London designer label, the launch of the new range should be a success. Paul Smith, which is famous for menswear, will continue to maintain its existing USP this season. It will pay greater attention to leather products and outerwear and will produce more fashion-forward designs to compete with new entrants. Paul Smith will also vigorously promote this collection in Japan, as an important international market. In addition, as a result of the technological influences, Paul Smith will make its online store more approachable and pay greater attention to Internet advertising and communications alongside the launch of the new collection.
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2.7 Consumer Profile The target consumers for Paul Smith are males aged between 30 and 60; they have personalities similar to that of Sir Paul Smith himself. They are mostly tall with a slender physique, and have the momentum of Savile Row and the characteristics of Londoners. They may be single, young fathers, families, householders, etc. Most of them have secure families, work in big cities, such as London, Milan, and Paris, and are prepared to settle in suburbia later in their lives. They are well-educated bourgeoisies, who enjoy life and have exquisite taste in clothes. Most are senior or higher level managers, bankers, artists, architectures, writers etc. They are middle-aged males, with modest attitudes and personalities, as well as distinct lifestyles. They work hard, but still retain significant amounts of chill-out time for hobbies. They accept and appreciate the quirky style and modifications made by Paul Smith to formal wear. These frequent customers are fond of wearing Paul Smith as their office outfits. Other brands they might purchase include Hugo Boss, CK, Polo, Armani, etc.
3. RANGE CONCEPT This new range is designed according to the concept of ‘Transnatural.’ The core direction is to present the vigour and vitality of nature, as well as its visual impression and sensory charm. In addition, the collection adopts many elements of the micro trend, such as the use of colour contrast panels, fabric combinations, metallic materials, tye dye patterns, and distressed leathers. This range has also capitalised upon its brand merit, by featuring various creative prints on the garments. The key word, ‘Transnatural’, is a new design concept in the 21st century, the foundation of which lies in the return of the original beauty. The key point of the design is to capture and depict the charm of blending nature and technology and using these incredible forces of nature to arouse emotional resonances in consumers. Tying in with this concept, the design integrates a number of seemingly contradictory design elements. The colour of this collection follows the tradition of Paul Smith, which is to combine dark tones with bright-coloured embellishments. The new collection integrates the colour moods ‘reminiscence and euphoria’ of this year’s micro trend, by using brown, dark brown, and grey as the main tunes, ornamented by bright colours, such as orange, red, etc. Compared to last year’s winter collection, this collection’s bright colours account for a greater proportion. Further, the creative design of some outerwear in this collection is dominated by the bright colours, instead of by dark tones. This is because Paul Smith aims to compete with the new entrants in the market, by utilising more cutting-edge fashions. The key style of the new collection is influenced by the androgynous fashion trend. Therefore, the range has been designed with a girlish twist, based on traditional English looks, such as the floral print coat collars and shirts. Further, there is a metallic leather coat designed for those who are fond of futuristic styles. The printing design adopts innovative patterns with the help of new technologies, for the sake of producing a perfect combination of patterns and fabrics. To meet this year’s fashion trend of using pad dyeing print, irregular and erratic pad dyeing is applied to the shirts, coats, and jeans. In addition, there is a gradient jumper, which is unique
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and links to the beauty of nature. Photoreal is another mainstream fashion trend this year. This is reflected in a photorealistic print blazer, which can be said to be a significant idea and innovation. The choice of fabric, on one hand, complies with the usual high-quality selection of materials. On the other hand, it pays attention to the use of leather, which can be found on the coats, leisure blazers, and even on casual shirts. This satisfies its brand identity of adding twists to classics. The outerwear in this new collection uses a significant proportion of wool, which is a winter essential. Different colours and textures of wools are used. Most of the silhouettes in this collection are slim fit, which can be seen to be a symbol of the Paul Smith menswear label.
4. RANGE PLAN AW 13/14 Paul Smith Men's Range Plan Total Value
Total Profit
Total Cost
£2,000,000 £1,335,658.30 £330,970.00 130-1840 Name
Leather collar dip dye shirt
Retail Price RSP-VAT
£255.00
Price in Pound £ Mark up RatioNo. options No. units
Price Range AverageRSP Margin
£212.50
569
±80%
Target Cost Profit
£48.00
£164.50
±6
£204.17
£38.00
£166.17
5.31
6.45
Paneled casual blazzer £1,010.00 £841.67
£170.00
£671.67
5.94
Wool blend long coat £890.00
patterned long blazer coat
£790.00
£741.67
£658.33
£150.00
£130.00
£591.67
£528.33
4180
Mark up Ratio Profit Margin Attributes
Floral print single cuff shirt £245.00
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5.93
6.08
100% cotton, Dip dyed, Calf leather detials, 77.41% Logoembossed buttons.
100% cotton, Floral print, Contrast collar&trim, 81.39% Logoembossed buttons. 100% Suede, Brushed wool sleeves, 79.80% Contrast Pocket, Attached scarf 70% wool 20% nylon, 10% cashmere, 100% 79.78% denim details.
60% cotton, 40% polyester, Wool blend 80.25% collar, patterned, Single breast.
No. Units Unit buy
300
£76,500.00
300
£73,500.00
200 £202,000.00
250 £222,500.00
200 £158,000.00
10
£890.00
£741.67
£150.00
£591.67
5.93
100%
79.78% denim
250 £222,500.00
details.
patterned long blazer coat
Patch panel zip leather coat dark brown
Patch panel zip leather coat dark gold
£790.00
£658.33
£1,840.00 £1,533.33
£1,840.00 £1,533.33
£130.00
£300.00
£300.00
£528.33
£1,233.33
£1,233.33
6.08
6.13
£183.33
£39.00
£144.33
£266.67
£55.00
£211.67
200 £368,000.00
5.64
55% silk, 45% wool, Slim fit, Suede belt 78.73% loops, two side pockets, back button pockets
380
5.82
Tye-dye slim fit jeans £190.00
£44.00
£30.00
£128.33
6.33
Ombre V neck jumper £190.00
double tiers jumper
£158.33
£35.00
£123.33
200 £368,000.00
6.13
Blushed Wool trousers £320.00
100% Shrink sheep leather, Paneled, 80.43% Zip, Suedehooded.
200 £158,000.00
100% slicksurfaced sheep 80.43% leather, Paneled, Zip, Suedehooded.
Wool blend trousers £220.00
60% cotton, 40% polyester, Wool blend 80.25% collar, patterned, Single breast.
5.43
48% wool, 24% polyester, 24% viscose, 4% 79.38% elastane, cuffed, zip, hook& eye fasten. 92% cotton, 7% polyester, 1% elastane, tye-dyed, 81.05% washed, skinny, mid rise.
100% cotton, V neck, all-over 77.89% textured knit, Ombere.
77% cotton, 23% viscose,
£83,600.00
320 £102,400.00
300
£57,000.00
400
£76,000.00
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Ombere.
double tiers jumper £320.00
Contrast pocket Hightlight piping Tee
Contrast details long sleeved top
loose neck elbowpatched long sleeved top
£130.00
£150.00
£150.00
£266.67
£108.33
£125.00
£125.00
£45.00
£20.00
£24.00
£26.00
£221.67
£88.33
£101.00
£99.00
7.11
6.50
6.25
5.77
77% cotton, 23% viscose, 83.13% Round neck, woven pattern, double layers. 100% cotton, Round Neck, Hightlight 81.54% Piping, PS stripes pocket.
49% nylon, 37% wool, 14% alpaca, 80.80% woven pattern, contrast details.
49% nylon, 37% wool, 14% alpaca, 79.20% elbow patched, contrast details.
300
£96,000.00
400
£52,000.00
215
£32,250.00
215
£32,250.00
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5. FIANCE PLAN The pricing strategy in the fashion industry is not simple ‘cost-plus’. In particular for companies targeting the premium market, brand value, market level, consumer type, profitability, promotion budgets, and distribution budgets must be taken into account, in addition to the design and material costs (Mills, 2002). The new range contains 15 different garment styles and 4180 pieces will be produced in total. The T-shirts, jumpers, casual shirts, and trousers will be ordered more than the other types of garments, as they are, in general, most likely to be sold. The most expensive coats will be ordered less, since the company has to manage the high material costs and reduce the risk of over stocking. The unit value of the new Paul Smith menswear collection is estimated to be £2 million pounds, which include the total cost of £330,970. According to the level of the market, the mark-up ratio has been set at approximately six, and for most products the mark-up ratio is slightly over six, so that it will not decrease below five when the company arranges seasonal sales. Calculations based on this figure estimate that the unit profit will principally be £1335,658.30 after VAT if all products were sold at its full price, while it is unrealistic and the company will definitely range seasonal and clearance sales to promote the collection. Thus the actual total profit will be the profits earned from products sold at full prices and also from products sold at 20% to 40% discounted prices as estimated. The company planned to sell 80% of products at full prices and 20% of products at discount prices, so the total profit will be around £1,228,805.64 to £1,282,231.97. Next, 10% of its total profit from selling will be allocated as the season promotion budgets; hence the actual net profit will be around £1,105,925.08 to £1,154,008.77 in conclusion. As the new collections will be designed in the UK and produced by the same manufacturers as previous collections, the cost of these aspects will remain similar. However, the cost of materials is slightly higher than normal, due to the adoption of numerous leather materials and some innovative fabrics. Thus, the RSP of outwears in this range is set to be higher than normal. After analysing the pricing history of both the company and its competitors, as well as considering the promotion and delivery costs, the new collection is priced between £130 and £1840. It is worth mentioning that the average RSP (£569) of this collection is very similar to that of the last winter collection (£529.5). This is important, as prices of a historical designer label must remain steady to meet loyal consumers’ expectations, as well as retain the brand’s position (Mills, 2002). The entry price point is £130 of a basic T-shirt with a mark up ratio of 6.50. While the full price point is £1840, this is for a leather coat made of decent materials with sophisticated cutting; therefore, it represents the luxury side of the brand. According to the theory that consumers will not process the right digits, for example that £790 can be processed as £700+ instead of £800 in their minds (Wu, 2004), most products have prices that end in nine, in order to sell more without significantly lowering prices. Finally, in order to target premium market consumers and to retain the brand value, the price range of Paul Smith menswear is higher than that of other lines of the company (Price ranges of all labels of Paul Smith are shown in the Appendix). As such, the product value of this range is, necessarily, higher than that of others.
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The company plans to sell the most during three periods: the launch stage, the Christmas sales, and the clearance sales. When a new season begins, consumers tend to purchase new clothes as a result of the season and of climate changes. As such, the company will sell a great number of units at full price. Subsequently, before Christmas, people are buying clothes as the New Year is approaching and they knew that the majorities of brands would have extensive sales. In this phase, Paul Smith will cut down the RSP, whilst expecting to obtain the greatest profits. At the end of the season, the company will hold post-holiday clearance sales to dispose of the stock.
6. MARKETING ACTIVITIES 6.1 Promotion &Communication The promotional message of the new collection focuses on broadcasting the new design concept, and highlights the fashionableness of this collection. It is an exclusive collection that attracts not only existing customers, but also new potential customers. In order to promote this collection, Paul Smith will first broadcast the collection on its official website and put posters at boutiques to launch the range, and there will be store events in the selected shops. Advertisements for this collection will be placed in the mainstream fashion magazines. Second, fashion presses and bloggers are expected to assist with the advertising. Social networks, such as Facebook or Twitter, are also used to communicate. Paul Smith’s brand look book will include the new collection. Paul Smith will also send emails to registered customers to promote and introduce this collection. In order to maintain the value of this collection, it will only provide subtle seasonal discounts to customers. Also, the brand communication for the new collection focuses on the development of smart phone and iPad platforms, which is an effective method of broadcasting and promoting the brand, as people are now spending significant time on technology platforms. In addition to the traditional sales channels, this new channel will be applied alongside the launch. Paul Smith will advertise exquisitely on smart phones and iPads, to present the new look of this collection. Further, viewers could make purchases immediately using these technologies.
6.2 Distribution The range will be on sale at ten stores, which are selected based on geographic factors and the sales opportunities for Paul Smith. The selected countries are the United Kingdom and Japan, followed by other European countries, the United States, and other Asian countries. As Paul Smith is a British brand, Britain becomes the priority sale point. The selection of Japan as the second sales point is because Paul Smith sales in Japan are great, with large marketing shares. The order of the rest of the countries is based on the company’s focus on these markets. All the stores selected are direct company stores, by which to raise the exclusivity of this new collection, as well as securing pricing and profitability. These stores are located in downtown areas and most of them are flagship stores. This also ensures the publicity of the new collection. The stores will not undergo complete renovations for the new collection. However, the display section of the new collection will be decorated to match the mood.
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7. APENDIX
1. Forecasting theory & Adoption Before I started thinking the range theme, I researched the definition of being a forecaster and some relevant information about forces affects fashion trends. Then I found out the trickle-down and bubble-up theories stated in Fashion Design by Sue Jenkyn Jones (2011), ‘In the twenty-first century, fashion has less to do with emulating what the rich are wearing (trickle-down theory) or original catwalk styles and copies than it had in the twentieth century. Dynamic cultural shirts are more likely to create consumer needs and desires. The emancipation and earning power of women and the social behaviour of teenagers donning street styles such as hip-hop have been key forces for change(Bubble-up theory.) there is an increase in market diversity and the number of styles can be acceptable at the same time and worn by the individual on different occasions’ The theoryies affect me to analyse the trend for next season via various aspects from catwalk down to street styles. The significant of cultural context is also mentioned in this book, ‘For the designer, knowing what to design and how to present it within the time cycle is not magic or pure intuition, but a matter of good research, planning, experimentation, inspiration and the ability to read cultural trends.’ After the fashion trend research conducted, I went back to the macro trend and tried to find some inspiration to develop a theme or concept of the new micro trend, as what was indicated in Basics Fashion Design 01: Research and Design by Simon Seivewright (2012): ‘a theme or concept is the essence of a good collection and is what makes it unique and personal to you. Remember that a good designer will explore aspects of their own personality, interests and viewpoints about the world around them; fusing them into a vibrant, innovative and credible collection.’
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Next, I followed the process introduced by Seivewright, and created theme, abstract, conceptual, narrative. The think tank process is illustrated as follow alongside the draft colour palette: Broken flower feminine girly
soft
Water and chemistry flower pattern printing tier flared Embroidery granulate
Vintage
feathering
nature
wave irregular sheer gold PVC
Tree woody
sustainability technology new material
Structure Dimensionally cutting solid shapes geometric color crisp angles
forest organic pattern leather
cambric casual oversize pleated broken splash-ink
handwriting
Combination
The theme of the trend is ‘transnatural’. The creative direction analysed the fashion micro trend from mood, colour, print, texture and silhouette respectively, in which I adopted the forecasting theory from WGSN and StlyesSight. Once I decided the theme of the micro trend, I developed a moodboard of the two Mood of this season's style. it is shown as follow:
16
Reminiscence
Euphoria
2. Brand onion of Paul Smith men’s
3. Positioning map of menswear market
18
4. Brand Architecture (MENSWEAR) It shows the position of Paul Smith Menswear in the whole company.
Paul Smith Men's Paul Smith London PS by Paul Smith Paul Smith Jeans
Red Ear New Born (Japan Only)
19
5. PEST & SWOT& Porter's Five Forces For the sake of gaining in depth looks of the macro market environment and the company 's internal environment. the PEST and SWOT ananlysis have been developed for the section 'Market Report'.
PEST Analysis macro factors of Paul Smith Men’s Political
Minimum wage of some development countries increased (FT Corporate Subscriptions, 2012). The OECD Guidelines for Multinational Enterprises (OECD Annual Report, 2012). Designs protection abroad policy of the UK Intellectual Property Office (IPO, 2012)
Economical
Social
Increasing polarization of consumer buying behaviours (Euromonitor, 2012). Lady Gaga Influence on couture (Style.com, 2009). Ageing population extended elderly apparel markets (Euromonitor,2012) . Emerging middle class phenomenon in Asia countries (DALLAS, 2012).
Market expansion in Asia and Latin America countries. The clothing wholesale supply is increasing worldwide in all the sectors of the industry (Teoline.com). Menswear market will exceed $402 billion in 2014 (MarketLine, 2012). The Americas represent almost 35% of the global men’s clothing market (MarketLine, 2012). Inflation increased production and operating costs (Euromonitor,2012)
Technological
The proliferations of using Tablet PC. The development of social media and E-Commerce. The increased importance of using innovated new materials and fabrics. Higher demand of technology in the production process.
20
SWOT Analysis of Paul Smith Men’s Strength
British Heritage brand with great USP. International success. Old historical designer label. Reputation in menswear market. Sir Paul Smith as an ambassador. Keep expending the market and opening new stores every year. Shows in London, Milan, Paris, Tokyo. Brand Welcomed in Japan. Have great marketing in Asia countries. Continues product innovation.
Opportunities
Weakness
Too many Sub-labels may drag down the brand value and take over a part of consumers from the main lines. Not professional in leather area. Price range too close to the company’s sub-lines. Not so active in advertising.
Threats
Increasing market share in development countries. Increasing fashionability of the collection to compete with new entrants and attract more potential customers. Developing new communication and promotion channels, ie. Iphone and ipad applications.
Many designers and their own labels emerged. The fluctuation of economy affects the fashion industry and the company itself. A proportion of loyalty consumers might run off when Smith retires.
21
Porter’s Five Forces Analysis Suppliers bargaining power------Moderate and increasing Paul Smith Company has stabled manufacturers in Italy and UK because Sir Smith prefers working largely in Europe as opposed to China. The Only products of Paul Smith that made in china are trainers and Jeans (M&I,2010). The few manufacturers in china might increase their bargaining power since the minimum wedge raise in the whole country, which factor has been reported in the section ‘PEST’, but it will not be a huge influence to the company because Chinese manufacturers only take up a small percentage of the company’s production.
Buyer bargaining power------moderate and stable The company targets to upper class consumer in the premium market, thus the sales largely depend on consumer confidence instead of an attractive price point. However, the economy recession may affect the buying power of its consumers.
Potential new entrants-----Increasing There are many new designer labels becoming more and more welcome by fashion followers, which offer product with high quality and great uniqueness of design. They undoubtedly threaten the old designer labels nowadays. However, it takes time to build up brand reputation and brand awareness.
Threat of substitute product------low There are large group of loyalty customers purchase Paul Smith products as their daily officewear. They have disposable income and likely to keep their styles.
The rivalry among competing sellers-------increasing The competition in the designer market is increasingly high as the bad economy results in reducing of customer’s buying power.
22
6. A/W 2012 Price ranges of Paul Smith all menswear collections
23
7. A/W 2012 Price ranges of competitors
24
8. LFL Product Feature Comparison
LFL Product Feature Comparison Paul Smith
Emporio Armani
men’s
97%Cotton
100% Cotton
3%Elastane
￡115
￡162
Size: S-XXL
Size: 15.5-17.5
HugoBoss
Dolce&Gabbana
100% Cotton
100% Cotton
￡109
￡235
Size: 37-44
Size: 15.5-17.5
Givenchy 100% Cotton
Polo Ralph Lauren
￡154
100% Cotton
Size: 34-44
￡90 Size: 14.5-18
Ted Baker
Calvin Klein
100%Cotton
100% Cotton
￡80
￡45.73
Size: 15-17.5
Size: 15-17
25
9. Differentiation Analysis Differentiation Analysis Designer brand
The Key Differentials
Paul Smith Men’s
The RTW collection of the English iconic brand Paul Smith, offering products with British casual styles and whimsical designs to educated urban men from the upper class while aged from35 to 60.
Emporio Armani
The high-end RTW, and most well-known label of the Italian fashion house Giorgio Armani S.P.A., has same target market to Dolce & Gabbana with a wider price range.
Hugo Boss Black
The broadest range under the famous German fashion group, Hugo Boss AG, offering high quality modern classic clothing, covering all areas of menswear superbly
Ralph Lauren black
Luxury collection of the global American lifestyle brand Ralph Lauren, offering elegant and timeless styles, targeting family oriented men within upper middle class.
Dolce & Gabbana
Italian fashion brand targets to high-income and fashion forward young male customers aged from 25 to 45. Offering creative, unconventional styles with a new luxury authentic.
Tommy Hilfiger
American brand offering high quality, quintessential casual sportswear with a classic, cool twist. Targeting the 25 to 45 year old consumers who seeking a new interpretation on classic American style.
10. Range Width & Depth
Paul Smith Men’s A/W 13/14 The range depth &width of the new Collection ‘Transnatural’ Width
Depth
Styles
Colour
Fabrics
Prints
14
18: White, multi, gray, burgundy, sooty, brown, dark brown, camel, smoky gray, gold, turquoise, tangerine, beige, light blue, coppery, smoky green, natural, denim.
6 15: Cotton, calf leather, Suede, brushed wool, wool, nylon, cashmere, denim, polyester, wool blend, sheep leather, silk, viscose, elastane, alpaca.
26
Range Depth and Width of Paul Smith’ Sub-labels (AW 12/13 MENSWEAR) Collection
Width
Depth
Styles
Colour
Fabrics
Prints
16
16: Black, grey, green, navy, taupe, sky blue, mauve, aran, damson, multi color, purple, red, signature stripe, white, brown.
9: Wool, Cashmere, Nylon, Cotton, Silk, Mohair, Merino Wool, Elastane, Mohair.
8
PS by Paul Smith
29
20: Black, brown, green, grey, khaki, navy, taupe, damson. Burgundy, blue, purple, violet, teal, sky blue, aran, light wash denim, pink, turquoise, white.
13: Wool, Nylon, Polyester, Cotton, Mohair, Elastane, Lambswool, Merino Wool, Viscose, Cashmere, Shetland Wool, Linen.
8
Paul Smith Jeans
29
23: Black, damson, dark wash denim, green, grey, khaki, mid-wash denim, navy, tan, taupe, turquoise, aran, blue, brown, dark wash denim, grey, light wash denim, pink, orange, red, white, multi color, cream.
13: Down, Feather filling, Sheepskin, Cotton, Wool, Leather, Viscose, Polyester, Nylon, Silk, Camel Wool, Merino Wool.
30
Red Ear
13
8: Grey, navy, black, cream, taupe, blue, sky blue, white.
8: Cotton, Wool, Shetland Wool, Camel Wool, Nylon, Mohair, Acrylic, Organic Cotton
4
Paul Smith London
27
Range Depth and Width of Competitors (AW 12/13 MENSWEAR)
Collection
Width
Depth
Styles
Colour
Fabrics
Prints
16
8: Black, blue, steel grey, brown, dark brown, sky blue, light grey, azure.
14: Virgin Wool, Polyamid, Viscose, Cachemire, Wool, Elastane, Cotton, Acrylic, PA, Mohair wool, sheepskin, Calf-skin leather, Bovine, Polyester.
7
47
25: Black, blue, brown, gold, grey, anthracite, ecru, dark blue, dark grey, yellow, open brown, open red, light blue, natural, white, anthracite, ecru, khaki, pink, beige, turquoise, dark red, bright blue, purple, pink.
14: Viscose, Acetate, Virgin wool, Silk, Cupro, Polyamid, Leather, Elastane, Cotton, Polyester, Cashmere, Polyurethane, Calfskin, Lamb leather.
21
24
23: Black, blue, brown, grey, beige, white, Steel grey, dark blue, dark brown, camel, Sand, Steel grey, Slate blue, Lead, red, green, Khaki, maroom, brick red, light grey, lilac, military green.
16: Cashmere, Virgin wool, Acetate, Rayon, Cotton, Mohair wool, Wool, Polyester, Silk, Elastane, Polyamide, Lambskin, Acrylic, PA, Viscose, Angora, Cashmere.
33
31
25: Black, Blue, Brown, Bright, Bronze, Cream, Green, Gray, Yellow, Ivory, Indigo, Multi, Madras Orange, Pink, Plaid, Purple, Pattern Red, Sliver, White, Wheat, Khaki, Tan, Nature, Denim.
26: cotton, linen, elastane, LycraÂŽ spandex, merino wool, wool, lambswool, alpaca, cashmere, camel hair, angora, nylon, Pima cotton, acrylic, Shetland wool, polyester, down, feathers, grey duck's down, Faux fur, acrylic, modacrylic, Cupro, leather, viscose, wool gabardine.
30
Emporio Armani
Hugo Boss Black
Dolce&Gabbana
Zara Men’s
28
11. Paul Smith Customer Pen Portrait
Paul Smith Consumer
12. Distribution Plan Distribution Plan Country
Location
United Kingdom Japan France Italy United States Hong Kong
London, Manchester Tokyo Paris Milan New York Hong Kong
Number of Stores 3 3 1 1 1 1
Percentage total units products 25% 25% 10% 10% 15% 15%
of Actual number of of products 1045 1045 418 418 627 627
29
Paul Smith Franchise Shops Location
Paul Smith Direct Store locations Europe
United Kindom France Belgium Neatherland Ireland Italy Russia Total
North Amarica
United States Canada Total
Asia Pacific
Middle East& Africa
Worldwide Total
Australia China Guam Hong Kong Macau India Japan Malaysia Philippines Singapore South Korea Taiwan Thailand Total Bahrain Kuwait Lebanon Qatar Saudi Arabia United Arab Emirates South Africa Total
Source: Paul Paul Smith official Source: Smith officialsite(10/12/2012) site(10/12/2012) Boutique Department store partener 17 3 4 3 1 1 1 1 1 3 28 7 5 5 1 1 1 5 1 3 2 1 1 3 19 6 3 47
3 1 4
8
8
1 1 1 1 2 3 2 10
1
88
20
30
13. Promotion Plan The promotion plan for the new collection of Paul Smith men's, is designed to assist the section 'Marketing Activities'.
Promotion Plan A/W 13/14 Paul Smith Men’s With the promotion budgets of £122,880.56 to £128,223.197, the initial promotion plan has been developed as follow: Channel
Expected Cost
£ 32,000 - £ 35,200 Print Advert poster £5,000 Brand Website, £ 5,000 Magazine
twitter,
Start Time Precede the launch Start from the launch day Start from the launch day
homepage broadcasting
£10,000
Precede the launch
Video ad production Email alert Look book
£10,000
Precede the launch
£5,000 (3p per mail) £ 1,500- £ 2,500
Slightly precede the launch
Store Event
£20,880.56 £23,023.197 £20,000
Launch day & days During periods of highest
Mobile and iPad apps
Visual Merchandising
Precede the launch demand. Start from the launch day
The promotioanl costs are set with the reference of advertising fees of some promotion and communication platforms. The reserached rate cards and websites are noted as follow:
31
Some advertising rate reference of promotion channels with high ROI Vogue UK Print Circulation:
210,806
UK Actively pucharsed:
150,095 Digital
Page impressions:
21,909,648
Unique users:
1,017,461
Email subscribers:
65,993 Print
Total readership:
1,300,000
Women:
1,123,000 (86%)
Men:
177,000 (14%)
Average age:
34 Digital
Female:
93%
Average age:
31
他们的报价表 Display Page size/Position
Single page
Page Run of Paper:
£ 25,100
Page Facing Matter:
£ 29,000
Page Specified Position:
£ 32,300
Contents/Masthead:
£ 34,800
Inside Back Cover:
£ 37,700
32
Outside Back Cover:
£ 40,200 DPS
Inside Front Cover Gatefold - 4 pages:
£ 133,400
Barn Door:
£ 133,400
Standard 4 Page Gatefold:
£ 91,900
First DPS:
£ 63,800
DPS sous/Specified Position:
£ 57,000
DPS Run of Paper:
£ 49,200
½ Masthead
£ 17,200 Bound-In / Scent Strips (Subject to approval)
National: 2 sides:
£ 30,100
4 sides:
£ 53,600
8 sides:
£ 106,800
16 sides:
£ 199,900 Loose Inserts / Tip-Ons
Machine Inserted:
£ 102 per thousand
Hand Inserted:
£ 136 per thousand
Online Leaderboards:
£ 30cpm
Expandable leaderboard:
£ 32cpm
MPUs:
£ 45cpm
Expandable MPU:
£ 47cpm
Double Sky:
£ 95cpm
Overlay:
£ 50cpm
Pre-roll:
£ 70cpm
Email Sponsorship:
£ 65cpm
Email List Pucharse:
£ 250cpm
Custom Solutions:
POA
Sponsorship:
POA
http://digital-assets.condenast.co.uk.s3.amazonaws.com/static/condenast/vogue-media-pack042012. pdf http://www.condenast.co.uk/vogue
33
Love UK The Reader Profile:
80% female 20% male Core age range: Median age: 18 – 24: 25 – 34: 35 – 44: ABC1: AB: Average Income:
18 – 40 yrs 28 22% 40% 38% 72% 48% £78,000
Rate Card:
Inside front page, double page spread:
£ 27,290
First bank double page spread:
£ 24,561
Named site double page spread:
£ 22,105
Front half double page spread:
£ 21,000
Rop double page spread:
£ 19,950
Outside back cover:
£ 26,500
Contents. Contributors, Editor letter. Masthead:
£ 12,280
Page specified position:
£ 11,052
Page run of paper:
£ 10,500
34
Inside front cover 4 page gatefols:
£ 60,580
Standard 4 page gatefold:
£ 40,580
Barn door:
£ 62,000
Machine-bound inserts/Scent-strips:
£ 20,000
Loose inserts/Tip-ons Machine insertion cost +
£ 50 per 1,000
display page rate Hand inserted cost + display page rate:
£ 80 per 1,000
http://digital-assets.condenast.co.uk.s3.amazonaws.com/static/condenast/love-presskit.pdf http://www.condenast.co.uk/love
TV Cost for transmission Region
21:30 Movie
23:05
evening
Coronation
or Drame
night movie
news
street
18:45
Daytime – This Morning Total:
itv2
19:30
11:00
£ 5,020
itv3
Early
£ 24,667
£ 59,549
£ 43,243
Late
£ 8,911
itv4
Daytime only campaigns (Based on 2 spot per day) Channel
Estimate
Budget
Spot Numbers
Total views
Ratings
0930-1724
ITV2
£ 45,000
12,857,143
26.2
60
ITV3
£ 30,000
10,000,000
20.4
60
ITV4
£ 10,000
3,636,364
7.4
60
All time campaigns (Typical weight) Channel
Budget
Total views
Ratings
0600-1724
1725-2259
2300-close
Total
ITV2
£ 55,000
12,492,613
25.5
27
17
10
54
ITV3
£ 45,000
10,590,727
21.6
22
14
6
43
ITV4
£ 25,000
5,682,285
11.8
26
23
9
58
35
http://www.itvmedia.co.uk/assets/itvmedia/content/downloadables/spot%20costs%20-%20itv%20m edia%20-%20itv1%20and%20multichannel%20-sept%2011.pdf http://www.itvmedia.co.uk/advertising-on-itv/cost-of-advertising
London Underground London Broadcast Packs
Med Weight
Price Per Site (2 weeks)
96 Sheets
15
£ 4,433
48 Sheets
50
£ 1,636
16 Sheets
200
£ 432
12 Sheets
150
£ 412
6 Sheets
200
£ 407
4 Sheets
400
£ 130
Stair, Corridor, Lift & Escalator
500
£ 105
8000
£ 22.50
1
£ 26.00
Panels Tube Car Panels TCPs – Doubles and Triples London Targeted Packs
Pack Weight
Price Per Site (2 weeks)
Platinum 48 Sheets – Platinum
15
£ 60,855
16 Sheets – Platinum
25
£ 27,800
12 Sheets – Entertainment
25
£ 20,600
6 Sheets – Oxford Street Pack
25
£ 20,100
4 Sheets – Entertainment
25
£ 8,675
Stair, Corridor, Lift & Escalator
50
£ 11,050
48 Sheets – Interchange
15
£ 48,045
16 Sheets – Interchange
25
£ 21,625
Panels – Entertainment Interchange / Business
36
London Elite “Top 50” 48 Sheets
50
£ 131,900
16 Sheets
100
£ 64,900
12 Sheets
75
£ 43,275
6 Sheets
150
£ 85,650
Showcase Squares – UG &
70
£ 61,950
12 Sheets – Illuminated
50
£ 48,600
4 Sheets – Illuminated
50
£ 19,100
48 Sheets
50
£ 45,000
16 Sheets
75
£ 17,775
12 Sheets
50
£ 10,300
6 Sheets
50
£ 11,200
4 Sheets
150
£ 10,650
Westfield
London Local
Bespoke Audience / London Shopper 6 Sheets 6 Sheets - Westfield
15
£ 8,565
6 Sheets – Other Targeted
1
£ 571
1
£ 407
Packs,
including
Doubles/Triples DLR 6 Sheets – All Packs TCPs – DLR
100
£ 3,100
20
£ 8,140
48
£ 1,128
London Tramlink 6 Sheets Interior
Panels
–
London
Tramlink London Selected Sites
Price Per Site (2 weeks)
37
Illuminated 12 Sheets
£ 1,622
4 Sheets
£ 533
Platinum 12 Sheets – Entertainment Stations
£ 1,154
6 Sheets – Oxford St Stations
£ 1,126
4 Sheets – Entertainment Stations
£ 485
Stair, Corridor, Lift & Escalator Panels –
£ 308
Enterainment Stations Selective Stair, Lift & Escalador Panel Runs –
£ 339
Entertaiment Stations (not Whole Runs) Elite: “Top 50” 12 Sheets
£ 808
6 Sheets, including Elite DLR & Westfield
£ 799
4 Sheets
£ 291
Stair, Corridor, Lift & Escalator Panels
£ 205
Selective Stair, Lift & Escalator Panel Runs
£ 225
(not Whole Runs) Premier: >12m annual footfall 12 Sheets
£ 371
6 Sheets
£ 403
4 Sheets
£ 136
Stair, Corridor, Lift & Escalator Panels
£ 101
Selective Stair, Lift & Escalator Panel Runs
£ 111
(not Whole Run) Major: 5 to 12m annual footfall 12 Sheets
£ 247
6 Sheets
£ 269
4 Sheets
£ 93
Stair, Corridor, Lift & Escalator Panels
£ 69
Selective Stair, Lift & Escalator Panel Runs
£ 76
(not Whole Runs)
38
DLR & London Tramlink 6 Sheets
£ 525
Interior Panels – London Tramlink
£ 27.50
http://www.cbsoutdoor.co.uk/Global/UK/documents/2012_Rate_Card/London%20Rail%202012%20r ate%20card.pdf http://www.cbsoutdoor.co.uk/Our-Media/London-Underground/96-Sheets/ 8. BILIOGRAPHY 1.
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5. Cholachatpinyo, A, Fletcher, B. Padgett,I. & Croker, M. 2002. A conceptual model of the fashion process – part 1: The fashion transformation process model. Journal of Fashion Marketing and Management, Vol.6 Iss 1, pp.11 - 23. 6. Cant, M, C. Strydom, J,W. & and Jooste, C,J. 2009. Marketing Management. Fifth Edition, Fifth edition Edition. Juta Academic. 7. Deutsch, E. 1980. Advaita Vedanta : A Philosophical Reconstruction. Edition. University of Hawaii Press. 8. Donohue, T, 2009. POLO RALPH LAUREN CORPORATION. INVESTMENT GROUP: UNIVERSITY OF OREGON. 9. Dallas, 2012. Apparel Market in Indonesia, Taiwan, South Korea, Hong Kong, China Analyzed in New Research Reports. PR Newswire, [Online] Available at:http://www.istockanalyst.com/business/news/5988512/apparel-market-in-indonesia-taiwan-so
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8. Donohue, T, 2009. POLO RALPH LAUREN CORPORATION. INVESTMENT GROUP: UNIVERSITY OF OREGON. 9. Dallas, 2012. Apparel Market in Indonesia, Taiwan, South Korea, Hong Kong, China Analyzed in New Research Reports. PR Newswire, [Online] Available at:http://www.istockanalyst.com/business/news/5988512/apparel-market-in-indonesia-taiwan-so uth-korea-hong-kong-china-analyzed-in-new-research-reports [Accessed 15 November 2012]. 10. Felsted, A. 2012. Paul Smith upbeat about China return - FT.com. Paul Smith upbeat about China return - FT.com. [ONLINE] Available at:http://www.ft.com/cms/s/0/bd256f46-ee18-11e1-a9d7-00144feab49a.html#axzz2HurEOwcl. [Accessed 5 January 2013]. 11. Goworek, H. 2010. An investigation into product development processes for UK fashion retailers: A multiple case study. Journal of Fashion Marketing and Management, Vol.14 Iss 4, pp.648 - 662. 12. Gernsheim, A, 1982. Victorian and Edwardian Fashion: A Photographic Survey (Dover Fashion and Costumes). Edition. Dover Publications. 13. Hines, T. & Bruce, M, 2007. Fashion Marketing, Second Edition: Contemporary issues. 2 Edition. Butterworth-Heinemann.
14. Intellectual Property Office. Designs. 2013. Intellectual Property Office [ONLINE] Available at: http://www.ipo.gov.uk/types/design.htm. [Accessed 2 January 2013]. 15. Jones, S, J. 2011. Fashion Design (Portfolio (Laurence King)). 3 Edition. Laurence King Publishers. 16. Jackson, T, & Shaw, D. 2009. Mastering Fashion Marketing (Palgrave Master Series). Edition. Palgrave Macmillan. 17. Jones, D, 2010. The MT Interview: Sir Paul Smith. Management Today, [Online]. 1, 1. Available at:http://www.managementtoday.co.uk/features/1037924/MT-Interview-Sir-Paul-Smith/ [Access ed 23 November 2012]. 18. Laroche, 2000. Canadian Retailing. 4Rev Ed Edition. McGraw-Hill Ryerson Higher Education. 19. Lancaster, G. Massingham, L. 2010. Essentials of Marketing Management. 1 Edition. Routledge. 20. Mills, G. 2003. Retail Pricing Strategies & Market Power. Edition. Melbourne University Publishing. 21. Martin, R. 2010. Trend Forecaster's Handbook. Edition. Laurence King Publishers. 22. Morley, J, C, 2006. The Guardian profile: Sir Paul Smith 'He made quirky acceptable by tweaking British style' Designer to retain control of company despite sale of 40% of shares to
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21. Martin, R. 2010. Trend Forecaster's Handbook. Edition. Laurence King Publishers. 22. Morley, J, C, 2006. The Guardian profile: Sir Paul Smith 'He made quirky acceptable by tweaking British style' Designer to retain control of company despite sale of 40% of shares to Japan. The Guardian, [Online] Available at: http://www.guardian.co.uk/uk/2006/feb/10/fashion.clothes [Accessed 06 November 2012]. 23. Manufacture & Industry: Paul Smith on Manufacturing in The UK. Manufacture & Industry. [ONLINE] Available at:http://manufactureandindustry.blogspot.co.uk/2010/09/paul-smith-on-manufacturing-in-uk.ht ml. [Accessed 2 January 2013].
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