Vetements x humains A Business Proposal Felicity Pollard
Vetements Instagram, 2018)
(Vetements, 2016)
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Vetements x humains
Contents
Introduction
2
The Business Opportunity: The Second Renaissance
4
Brand DNA: For the Aesthetically Brave
8
The Marketing Mix
10
Market Level
12
Competitors
14
Online Competitive Shop
16
Pop Up Retailing
17
Marketing the Pop Up
18
The Pop Up
20
Styling the Consumer: Generation Change
22
Trend Forecasting
25
Range Proposal
27
Costing
33
Sales Forecast
35
Ethical Trading and CSR
36
References
37
Image List
41
Bibliography
44
Appendices
45
1.
Vetements x humains
Introduction The rise of AI (Artificial Intelligence) has been the inspiration for this range project. Asked to consider a pop up store which will feature as the backdrop for my range, I began to consider how to cultivate a retail environment in which to highlight the way in which technology has negatively affected the retail industry and the times in which we live. My pop-up store will focus on re-humanising retail as an interactive and social space. My range will also be inspired by this issue, with A/W-ready garments emblazoned with slogans. I have decided to collaborate with Vetements, a luxury brand geared towards politically charged streetwear clothing.It is this retailer which I believe would champion this project, which I have called Vetements x humains. In order to execute this range, this portfolio will explore the business opportunity at hand, as well as critically consider the range’s target consumer, its place within a competitive market segment, market level and sales forecasting in order to establish the commercial viability of the range for investment.
(Vetements Instagram, 2018)
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Vetements x humains
(Vetements Instagram, 2018)
(Instagram, 2018)
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2. The Business Opportunity: The Second Renaissance
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In a politically turbulent age, silence is no longer an option for activist demographic generation Z. My range and pop-up store will act as a voice of political and social allegiances making a stand against the digital age in which we live and the negative impact of technology not only socially, but economically. Consider that retailer Uniqlo has recently replaced 90% of its workers with automated machines within its 24-hour factory located in Tokyo. The strategic move aims to ‘minimize storage costs and… deliver products faster around the world’ (Bain, 2018:online). Whilst offering a time effective solution to the growing expectations of fast fashion consumers, moves of this kind signal a growing shift towards replacing human workers with AI robots. Equally, Amazon is in the process of trialling cash and staff-less grocery stores to provide a grab and go digital shopping experience (Mintel, 2017b). Similar stores have also been introduced by organisations such as Alibaba and BingoBox (Lee, 2017).
(Vetements, Instagram, 2018)
The ongoing artificial-intelligence revolution is set to create social and economic challenges by pushing humans out of the job market (Hariri, 2017: 324 and Mintel, 2011). Retail is set to be one of the industries most disrupted by technological advancements, with studies predicting that 85% of customer interactions in retail will be Al-managed by 2020 (Widdop, 2018:23). Retailers such as John Lewis have acknowledged the increasing automation of retail, and have trained their staff to ‘become experts in certain categories such as home design consultants and personal fashion stylists’ (Mintel, 2017b:online).
Vetements x humains My suggested small-scale solution is to cultivate an environment which values human interaction and offers services which are hard to technically replicate, namely, aesthetic styling. Despite the rise of online personal stylist services offered by brands such as Thread and Trunk, when it comes to style advice, Mintel (2017b) studies suggested that 44% of shoppers show a preference for speaking to in actual person in-store for style advice. Retail spaces provide an important space for salespeople and consumers to socialise(Hu and Jasper, 2006 cited in Kim and Kim, 2014:133). This is particularly true of luxury retail with research indicating that high levels of customer service give rise to “commercial friendships” (Gwinner et al., 1998, Price and Arnould, 1999 cited by Kim and Kim, 2014:335-336) which can be drivers of brand loyalty, satisfaction and word of mouth marketing. Rider and Elliot (2000: 172) also note that personal selling is an important promotional method for the commercial viability of a product. This is particularly important in considered, luxury purchases, which will often require an additional technical information around the product.
‘People still want to touch and feel, and meet humans.’ (Robertson cited by Chapman,2017:online)
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As we make a move towards an increasingly socially isolated society, especially that of social media savvy generation Z, with studies finding that social media use induces sentiments of loneliness in young adults (Primack et al., 2017:7). Mintel (2017b) research indicates that 83% of customers like to be able to browse in store without staff interaction; my store will aim to challenge these statistics by featuring in-store talks and styling workshops in order to cultivate a lively and social shopping experience. Research also suggests that consumers respond well to shopping experiences which blur the lines between retail and leisure as consumers prioritise investing in experiences rather than commodities(Mintel, 2018a and Hardley, 2018). This is particularly true of Gen Zers, who are buying into the “experience economy” (Mintel, 2018c). Another means to attract the online shopper to my bricks and mortar store would be to offer my collection as in-store only, as opposed to traditional online exclusives offered by retailers, in order to create in-store momentum. Mintel research (2016) indicates that young female consumers, are particularly concerned with queuing and wait times. With time and convenience becoming a primary commodity for young consumers, one means to tackle this would be self-service tills or replicate Amazon Go’s staff-less and checkout-less model. I want to take this as an opportunity to combine technology and human interaction with staff carrying Points of Sale systems via an IPad, making the process quick, efficient and ultimately, human.
Vetements x humains
(Vetements S/S19, 2018)
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3.
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Brand DNA: fOR THE aESTHETICALLY bRAVE
(Vetements S/S19, 2018)
(Vetements S/S19, 2018)
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(Dazed, 2018)
V
etements is a Parisian street style
collective headed by soviet Georgian born by Demna Gvasalia, originally showcasing in 2014. The brand is heavily invested in youth and “nowâ€? culture, with garments often inspired by the political and social climate. Most recently, the brand featured a pro-European Union hoody and collaborated with Harrods to curate a window display highlighting the polluting nature of the fashion industry (Street, 2018). Vetements is well known for its collaborations, namely with brands such as Levi's, Dr. Martens, Reebok as well as Manolo Blahnik and Comme des Garçons (Hendriksz, 2016). It is therefore likely that the brand would likely cultivate a range in collaboration with my movement, Vetements x humains.
(Instagram, 2018)
(Vetements Instagram, 2018)
4.
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Marketing Mix
Gowerek (2007:159) defines the ‘marketing mix as a combination of variables that contribute to the ability of a band or product to meet consumers’ needs profitably…’, this can be defined by the four Ps demonstrated below.
Figure 1. The Fashion Marketing Mix (Gowerek, 2007:159)
Consumers
Price
Promotion Product
Place
(Vetements,2016)
Vetements x humains Product ●
Menswear and womenswear, culminated as one unisex collection.
●
Casual and formalwear, denim and footwear, as well as accessories such as scarves, bags and jewellery.
●
Price ●
Price points £160 for its up to £1,550 (Harrods, no
●
Prices have not been without controversy, with creative director Gvasalia himself stating in an interview, ‘My friends very often can’t afford the clothes…don’t think I’m crazy fashion enough to go and buy those things’ (n.d., cited by Finnigan,2016:online).
●
Price points later justified through use of high quality factories and fabrics such as molton cotton. Pricing is also indicative of the brand’s resistance to fast fashion, instead offering aspirational pieces to be cherished by its customers (Sowray, 2016:online).
Recognisable brand DNA of fashion dadaism ties these product ranges together.
Promotion ●
●
Vetements does not struggle in terms of brand equity, the label showcases outside of traditional fashion weeks, (Amed, 2016). Instagram “community” of 3.2 million followers to create anticipation for collection drops (Instagram, no date, a). The brand posts consistently, often featuring customers’ wearing its clothing or advertising upcoming collection drops.
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currently from jersey range and for outerwear date).
Place ●
No brick and mortar presence.
●
Vetements distribute their collections through luxury retailers such as Harrods and Selfridges and ecommerce players such as Net-A-Porter, Mr Porter and Matches Fashion.
(Vetements,2016)
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5. Market Level Despite
I don’t consider Louis Vuitton to be a luxury brand – yes, the quality is luxury, but if you can go to the store and get whatever you want, it’s not luxury (Guram Vetements,2016) Gvasalia, n.d., cited by Sowray, 2016:online).
the casual aesthetic of the
brand, the accompanying price tag pushes the product into the luxury end of Posner’s market segment pyramid (2015:15)(figure 2, appendices). The luxury goods market has been growing in demand in more recent decades. Growth is attributed to an overall increase in wealth and prosperity due to improved accessibility to education, as well as a shift in women entering the public sphere of work. Young consumers are key drivers to this industry, with millennials expected to make up 40% of the global luxury goods market by 2025 (Walker, 2017), with brands such as Louis Vuitton, Gucci and Burberry taking note with increasingly targeted advertising (Tan, 2017). Given that Mintel (2018c) research indicates Generation Z are also interested in the sector, we can expect similar if not more spending power from this upcoming demographic. Luxury can be identified in terms of its psychologically perceived value. Luxury products act as an outward symbol of status symbol and ‘as a highly involved consumption experience that is strongly congruent to a person’s self-concept.’ Key characteristics of a luxury brand also include high levels of craftsmanship and exclusivity (Moore and Fionda, 2008: 349).
Vetements x humains
Vetements,2016)
(Vetements, 2015)
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6.
Competitors ‘Know as much about your competitors as your customer. Customers do not look at your product range in isolation, neither should the buyer’ (Elliot and Rider, 2000:28).
(Instagram,2018)
Vetements x humains Key competitors operating within Vetements market level are Balenciaga (for whom Demna is also the creative director), Yeezy and Off White. Gowerek and McGolderick (20015: 98) suggest using a perceptual brand positioning map to assess the market in which an organisation operates to decipher how brands are perceived in comparison to competitors. As we can see Vetements is operating on the luxury and exclusive scale, but may well need to further differentiate itself from Yeezy and Off-White or risk losing market share. Equally, despite Supreme operating within the mid-market level, the brand should be considered a competitor within the streetwear sector. With a successful supply controlled strategy cultivated by the hype which surrounds its weekly drops (Moran, 2017), as well as a cheaper point (figure 4, appendices) there is certainly a risk of being undercut. Figure 3. Brand Positioning Map (Gowerek and McGolderick, 2015:97).
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(Vetements, 2016)
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7.
Online Competitive shop This primary research method is a useful tool for buyers to analyse product offerings from competitors and make note of any missing trends from their own ranges(Gowerek, 2007:20).As I have no access to a Vetements retailer, or a retailer selling its competitors garments, I decided to carry out an online competitive shop looking at Vetements in comparison to Yeezy, Off White, Balenciaga and Supreme (see appendices, figure 4). My takeaway was the broad range of players within the luxury streetwear market. Yeezy, Supreme and Off-White offer similar, but cheaper product which will inform my costing choices. Extensions of existing product lines will be available at a slight reduction to maintain brand exclusivity. Equally, I will offer more fashion forward colourways and a larger size mix (XXS-XXL) in light of increasing obesity in young adults, in addition to calls for size inclusivity as found within my consumer analysis.
(Vetements, 2016)
Vetements x humains
8.
(Vetements, 2016)
Pop-Up Retailing Originally popularised by Levi's and Swatch’s 1999 pop-up store (Lassus and Friere, 2014:61), ‘pop-up brand stores are becoming a popular experiential marketing tool in luxury retail, aimed at creating brand experiences and increasing word of mouth (WOM)’ (Klein et al.,2016: 5671). Pop-up stores offer hedonic value to consumers defined by Babin, Darden, and Griffin (1994, cited in Klein et al, 2016:5762) ‘as the entertainment fun associated with in-store shopping’. This concept also taps into hedonic consumption, open for a fleeting period, it triggers a “see it now, buy it now” sentiment in consumers (Lassus and Friere, 2014:62). Pop-up retailing is a key marketing tool for luxury houses, with this market segment being at risk of being viewed as intimidating and unaffordable, Lassus and Friere (2014:63) note that pop-up stores offer a means of charming consumers who might otherwise be newcomers to the market. Re-enforcing my decision to appeal to Generation Z, research indicates that young single women, in particular, are most enticed by pop-up stores ‘due to the fact that they have more free time and can focus more easily on window shopping, visiting ephemeral stores, purchasing luxury products and sharing their experiences on the Internet’ (Lassus and Friere 2014:66).
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9.
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Marketing the Pop-Up ‘The purpose of marketing is to maximise a company’s sales by selling products which meet consumers needs effectively’ (Gowerek, 2007:159).
(Vetements, 2016)
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(Vetements, 2014)
M
intel research (2018b) indicates Generation Z most frequently uses
Youtube, followed by Instagram. The use of Instagram also goes hand in hand with Vetements’ existing use of the platform as a digital community. I would create momentum around the store opening by posting in both French and English two weeks before the store launch, indicating solely the location and the promise of an in-store exclusive drop. Within my Instagram post will be accompanied by the hashtag: Vetements x humains in order to hint at the subject of the collection and create momentum for the release. Marketing via Instagram will also give a good indication as to awareness of the project, which will be monitored through likes, engagement with posts in addition to Instagram Analytics. After researching how best to deploy my social media marketing campaign, I found that the best times to post content were Wednesday at 3:00 PM, Thursday at 5:00 AM, 11:00 AM, 3:00 PM, Friday at 5:00 AM according to Pierson (2018:online). I would also collaborate with influencers in order to create hype around the launch. Instagram in particular is geared towards influencer marketing, and Generation Z are particularly susceptible to this marketing technique as champions of Instagram (Miachon, 2018). After researching French street style influencers, I have decided to collaborate with Parisian Aude Julie, with an amassed following of 43.2k whose personal style reflects the aesthetic of brand (Instagram, no date, b).
Vetements x humains
10.
Pop My
store would be set to open in September 2020 in order to capture the student consumer, and located in Paris as its country of origin. The brand has popped up in Paris previously in collaboration with DHL (Marain and Salessy, 2018). Equally, there is a good market for luxury consumption within Paris, the number of UNWIs (ultra high net worth individuals) living within the French capital has recently overtaken that of London (Samuel, 2018).The pop-up store will be set in Marais, a cultural hub of style and art attracting both tourists and residents of the area, and will run for 8 weeks. The interior will take inspiration from Vetements’ previous pop-ups, but updated to reflect my range’s colour way. It will also feature gender neutral visual merchandising and mannequins as seen from brands such as Katy has a Loft (Rumsey, 2015).
Up
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(Thestorefront,n.d.)
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(WGSN,2015)
(Thestorefront,n.d.)
(Vogue, 2018)
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11. Styling the consumer: Generation change ‘borne out of A generation
changes in tech, politics, and a culture that has become more connected, open, and accepting’(Graham, 2018:online).
(Vetements, 2016)
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Born
between 1998 and 2016, Generation Z is a small cohort of 15% of the current world population, however it is still paramount for organisations to understand this demographic as the next age of consumers (Mintel, 2018c). This demographic is both my target consumer, and that of Vetements. Blackwood et al. (2001: 570) broadly labels this market as ‘Young Singles’, members of this generation may be still be living at home, with friends or with partners- meaning that this market segment has a broad range on disposable income. On the cusp of entering the work force, earnings will be relatively low for this market; however, young singles will also have fewer financial responsibilities such as mortgages or pension payments. Gowerek (2007:163) also notes that retailers should be wary of targeting high earners, who may devote their time to working rather than shopping, and therefore would be more interested in formalwear, rather than casual wear.
Generation Z have also been referred to as the Gender Fluid Generation, refusing to accept traditional gender binaries and stereotypes (Mintel, 2018c). Brands such as Vetements have been at the forefront of this drive, featuring largely gender neutral silhouettes throughout its collections since its launch in 2014. Continuing with Vetements recognisably gender neutral aesthetic, that I have chosen to market my range as unisex, utilising both genderless silhouettes and colourways. With both a growing demand for inclusivity in fashion, as well as a distinct rise in obesity, I felt it was important to include a range of sizes, running from XXS-XXL which is broader than Vetements’ existing range (Mintel, 2018c).
(Vetements, 2016) (Vetements, 2016)
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Vetements x humains This is also a generation who have become normalised to the luxury market with consistent digital exposure to both luxury marketing content and that of celebrities through channels such as SnapChat and Instagram. ‘Gen Zers’ interest in designer clothing is expected to fuel the luxury goods market over the coming years’ (Mintel, 2018c), with a study by management consultancy firm Bain & Company projecting that Millennials and Generation Z will be behind 85% of growth for the industry by 2030. According to Mintel reports, 20% of male Gen Zers and 21% of females would spend a windfall £1000 on luxury goods. This is indicative not only of generational interest of luxury goods, but also of blanket interest in appearance and style, which has primarily been a female sphere. As digital natives, Generation Z are becoming increasingly sceptical in regards to this technical revolution, concerned by privacy as well as the deterioration in mental health which has been linked to social media use. Equally, as many of the roles that are set to be automised are largely taken up by young people, with studies finding that the majority of American 18 to 24 year-olds work in service industries: leisure and hospitality or retail and wholesale (Allison and Mugglestone, 2014:online). As a result, Generation Z could well see a decrease in employment prospects and such I feel the message of the collection would resonate with this demographic.
(Vetements,2014)
(Vetements,2014)
(Vetements, 2016) (Vetements,2014)
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Vetements x humains
within the fashion industry, and it should not be treated as a fleeting trend but rather a shift in the social climate towards more open and inclusive values within upcoming markets such as Generation Z (Rumsey, 2015). With this in mind, my line with continue with Vetements’ familiar unisex aesthetic. After analysing future WGSN trends I wanted to combine both future menswear and womenswear trends in order to cultivate a truly gender neutral collection. I specifically utilised tones with appeared in both men’s and womenswear collections. WGSN (2018) predicts refined, home-inspired colours for men’s A/W 20/21 to be worn with marble mid-tones (icicle, plastic pink) for a refined edge. Whilst this colourway is imagined for occasion wear, I want to utilise this palette for a streetstyle range. I’ve also taken inspiration from WGSN’s colour predictions for women’s A/W 20/21, namely amazon green and sloe purple(Boddy, 2018). My collection will feature pro-humanity slogans, taking inspiration from the heavy branding and product design from Vetements’ previous collections (Vetements, no date). Young consumers will be engaging with Veblen’s (1899) theory conspicuous consumption, and as such, signals of wealth, status and being a part of an exclusive “tribe” are a means of gaining cultural capital to be displayed via their social media channels.
TREND FORECASTING
Gender neutral clothing is not a new concept
12.
(Vetements, 2016) (Vetements,2014)
(Vetements,2016)
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(Vetements Instagram, 2018)
(Vetements Instagram, 2018)
(Pinterest,n.d.) (WGSN,2018a)
(WGSN,2018)
(WGSN,2018)
(WGSN,2018) (WGSN,2018)
(WGSN,2018a)
Vetements x humains
13. Range Proposal Ranges should be wide enough to ‘offer consumer real choice without causing confusion’, and good stock depth ‘to mount a credible promotion of the product’ (Elliot and Rider 2000: 80). Building a plan would usually be based upon historic information available only to the personnel of Vetements, for the purposes of my capsule collection I have decided to offer 9 products to be styled across the colour ways. The range maintains Vetements’ brand DNA with a relaxed androgynous fit,but is more fashion forward with colour. More daring colourways, and a politically driven message will offer the brand further differentiation within its market segment(figure 3).I also felt it was important to expand upon the existing size mix due to the gap in the market for inclusive sizing. My long sleeve tee range will act as the entry-level point for the collection, as a cheaper and semi-styled product. This will allow newcomers to luxury to buy into the brand, and become part of the Vetements “community”. I expect these items to be the “best” of my range, and this is reflected within my units to buy (see costing), as well as my sales forecast. I have identified my sweatshirt collection as “better”, as the items are offering in more wearable colours than the sloe purple, and are more easily styled day to day than my jogging trouser collection. I will purchased less units within the sloe colourway to reduce risk of over-stock, recognising that it is a more fashion forward, and therefore risky colour.
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Vetements x humains Pour les femmes et les hommes Autumne/Hiver 2020 XXS-XXL
VETEMENTS X HUMAINS Pink Crystal 14-3803 TCX Plastic Pink 15-1512 TCX
Ilyce 13-5305 TCX
Amazon 19-6311 TCX
Sloe 18-3410 TCX
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‘Rage against the Machine’ hoodie
‘I,human’ sweatshirt
100% Molton Cotton Trim: 97% Cotton, 3% Elastane
100% Molton Cotton Trim: 97% Cotton, 3% Elastane
649€
630€
XXS-XXL
XXS-XXL
Vetements x humains
‘The future is human’ tee
‘Vetements x humains’ tee
100% Cotton Trim: 97% Cotton, 3% Elastane
100% Cotton Trim: 97% Cotton, 3% Elastane
330€
330€
XXS-XXL
XXS-XXL
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‘Rage against the machine’ tee 100% Cotton Trim: 97% Cotton, 3% Elastane 330€ XXS-XXL
Vetements x humains
‘Rage Against the Machine’ wide leg joggers
‘I, Human’ skinny leg joggers 100% Molton Cotton
100% Molton Cotton
Trim: 97% Cotton, 3% Elastane
Trim: 97% Cotton, 3% Elastane 700€
650€ XXS-XXL XXS-XXL
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‘Rage Against the Machine’ wide leg joggers 100% Molton Cotton
Trim: 97% Cotton, 3% Elastane 650€ XXS-XXL
Vetements x humains
‘Vetements x Humains’ bomber jacket Outer:100% nylon Trim: 97% Cotton, 3% Elastane 10,50€ XXS-XXL
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Vetements x humains
Retail organisations have
14. Costing
internal target margins and a strategic formula by which to achieve them (Gowerek, 2007: 49). Vetements have no existing public financials available to third parties, therefore I will provide speculative profit margins based on luxury industry standards, which are considered to be 65% (Craig, 2018). Kering, the parent company of Balenciaga, a key competitor of Vetements as outlined within the brand positioning map (figure 4), is currently operated at profit margin of 68.92% in 2017 (Osiris, 2019). This figure indicates that there is market share to be gained. Luxury fashion operates with a prestige pricing strategy, theorised by Veblen (1899). He suggests that consumers may purchase an expensive luxury product as a means an outward symbol of prestige. This also ties into the ‘conspicuous’ price, this is the price ‘other people think a consumer has paid for a product’. Equally, the product must carry some level of exclusivity (Gutsaz and Heine, 2018: 414-15). The increase in profit margin is based upon my analysis of best, better and worst in my range. Products with higher margins will be a recuperation of the operational overheads of running the pop-up.
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Product
‘Rage against the Machine’ hoodie ‘I, human’ sweatshirt
Profit Margin
RRP after VAT
Landed Buying Price
Units
Total Cost
Total sales over 8-week period
€
€ €
€
€
€ €
Returns on Investm ent (ROE)
€
€ €
‘Vetements x humains’ Bomber Jacket ‘Rage against the machine’ Tee ‘Vetements x humains’ Tee
€ €
€
€
€
€ €
€
€ € €
€
€
€ €
‘The future is human’ Tee ‘Rage against the Machine ‘jogger in plastic pink ‘Rage against the Machine ‘jogger in sloe ‘I, human’ Skinny Jogger
€ €
€ €
€
€
€ €
€ €
€ €
€
€
€
€ €
€
€
€
TOTAL
€ €
€
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15. Sales Forecast My forecast sales are based upon Gowerek’s (2007:160) product life cycle (see appendices) in line with the period in which my store “pops up”. Garments, especially those that are fashion forward rather than core pieces, have a limited life span. Commercial success of the range will depend upon the management of these four stages. I expect my range to reach maximum sales volume within week 3 due to the momentum built up from my Instagram marketing campaign and word of mouth marketing.
Vetements x humains
16. Ethical Trading and Corporate Social Responsibility As the store employees act as the focal point of my pop-up store, I will pay above the minimum hourly wage, which is currently 10.03â‚Ź per hour according to Statista (2018). Equally, ethical trading has been a key issue for fashion retailers within recent decades (Gowerek, 2007:77). Vetements is keen to highlight issues surrounding the over-consumption of clothing within fast fashion, however, there is no publicly available information concerning their supply chain and does not utilise consistently organic textiles. My range will be apart the Clean Clothes Campaign, an international pressure group aiming to improve the working conditions of labourers within textile supply chains (Gowerek, 2007:77).
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References Amed, I. (2016) Demna Gvasalia Reveals Vetements' Plan to Disrupt the Fashion System. [Online] [Accessed 29th December 2018] https://www.businessoffashion.com/community/voices/discussions/how-to-fix-fashion-week/demna-gvasalia-revealsvetements-plan-to-disrupt-the-fashion-system Allison, T. and Mugglestone, K. (2014) Where do Young Adults Work? [Online] [Accessed 2nd January 2019] https://younginvincibles.org/wp-content/uploads/2017/04/Where-Do-Young-Adults-Work-12.4.pdf Boddy, J. (2018) Women's Colour A/W 20/21. [Online] [Accessed 29th December 2018] https://www-wgsn-com.ezproxy.mmu.ac.uk/content/board_viewer/#/81568/page/15 Bain, M. (2018) Uniqlo replaced 90% of staff at its newly automated warehouse with robots. [Online] [Accessed 24th December 2018] https://qz.com/1419418/uniqlo-cut-90-of-staff-at-one-warehouse-by-replacing-them-with-robots/ Blackwell, R.D. and Engel, J.F., Miniard, P.W. (2001). ‘Family and Household influences’ In Consumer Behavior. 9th ed., Ohio: South-Western, pp.359-394 Chapman, M. (2017) How retail marketers are transforming tomorrow's shopper experience. [Online] [Accessed 28th December 2018] https://www.campaignlive.co.uk/article/retail-marketers-transforming-tomorrows-shopper-experience/1446949 Craig, S. (2018) Average Fashion GP Margins. Manchester: Metropolitan University. [Online] [Accessed 7th January 2019] Elliot, F. and Rider, J. (2000) Retail Buying Techniques. Gloucestershire: Management Books. Easey, M. (2009) ‘Fashion Marketing Planning’ In Fashion Marketing. 3rd ed., Chichester: John Wiley & Sons, pp. 238-250 Fionda, A. M. and Moore, C.M. (2008) ‘The Anatomy of the Luxury Fashion Brand.’ The Journal of Brand Management, 16 (5-6) pp. 347-363 Finnigan, K. (2016) ‘Demna Gvasalia on race, that DHL T-shirt and why he wouldn't pay for his own designs’. The Guardian. [Online] 18th May. [Accessed 2nd January 2019] https://www.telegraph.co.uk/fashion/people/demna-gvasalia-on-race-that-dhl-t-shirt-and-why-he-wouldnt-pay-f/ Graham, B. (2018) Five Big Differences Between Millennials and Gen Z That You Need to Know. [Online] [Accessed 31st December 2018] https://medium.com/writers-guild/five-big-differences-between-millennials-and-gen-z-that-you-need-to-know-fdefb6 07fc41 Gowerek, H. (2007) Fashion Buying. 2nd ed., Oxford: Blackwell Publishing. Gowerek, H. and McGolderick, P. (2015) Retail Marketing Management. Harlow: Pearson Education Limited
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Gutsaz, M. and Heine, K. (2018) ‘Is luxury expensive?’ Journal of Brand Management, 25(5), pp. 411-423 Hardley, F. (2018) Retailers must adapt to changing consumer behaviour or risk collapse. [Online] [Accessed 7th January 2019] https://www.retailgazette.co.uk/blog/2018/05/retailers-must-adapt-to-changing-consumer-behaviour-or-risk-collaps e/ Harrari, Y. N. (2017) ‘Reboot for the AI revolution.’ Nature, 550(7676), pp. 324-327
th Hendriksz, V. (2016) Vetements Collaborates with 18 Designers for SS17. [Online] [Accessed 29 December 2018] https://fashionunited.uk/news/fashion/vetements-collaborates-with-18-designers-for-ss17/2016062720912
th Instagram. (no date, a) Vetements_Official. [Online] [Accessed 28 December 2018] https://www.instagram.com/vetements_official/
th Instagram. (no date, b) Aude_julie. [Online] [Accessed 28 December 2018] https://www.instagram.com/aude_julie/ Kim,K. and Kim, J. (2014) ‘Making Customer Engagement Fun: Customer-salesperson Interaction in Luxury Fashion Retailing.’ Journal of Fashion Marketing and Management, 18(2) pp. 133-144
th Lee, E. (2017) Top 10 Chinese unmanned stores in 2017. [Online] [Accessed 28 December 2018] https://technode.com/2017/12/27/top-10-chinese-unmanned-stores-2017-2/ Lassus, C. and Friere, A. N. (2016) ‘Access to the luxury brand myth in pop-up stores: A netnographic and semiotic analysis.’ Journal of Retailing and Consumer Services, 21(1) pp. 61-68 Klein, J. F., Falk, T., Esch, F. and Gloukhovtsev, A. (2016) ‘Linking Pop-up Brand Stores to Brand E Experience and Word of Mouth.’ Journal of Business Research, 69(12), pp. 5761-5767 Marain, A. and Salessy, H. (2018) Vetements Opens a Pop-Up Store in Paris. [Online] [Accessed 28/11/18] https://en.vogue.fr/fashion/fashion-news/story/vetements-opens-a-pop-up-store-in-paris/1396#3-3 Mckevley, K. and Munslow, J. (2008) Fashion Forecasting. Chichester: John Wiley & Sons Miachon, N. (2018) Reaching Gen Z with Influencer Marketing: Four Trends for Success. [Online] [Accessed 29th December 2018] https://www.forbes.com/sites/forbescommunicationscouncil/2018/10/09/reaching-gen-z-with-influencer-marketingfour-trends-for-success/ Mintel. (2011) Trendsetters: Who Needs Humans? [Online] [Accessed 28th December 2018] http://www.mintel.com/ Mintel. (2016) Womenswear UK. [Online] [Accessed 29th December 2018] http://www.mintel.com/ Mintel. (2017a) Clothing Retail: Attitudes towards Shopping for Clothes. [Online] [Accessed 28th November 2018] http://www.mintel.com/
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Mintel. (2017b) Fashion Technology and Innovation: Issues and Insights. [Online] [Accessed 28th November 2018] http://www.mintel.com/ Mintel. (2018a) Personalisation in Beauty. [Online] [Accessed 28th December 2018] http://www.mintel.com/Mintel. (2018b) Technology Habits of Generation Z. [Online] [Accessed 28th December 2018] http://www.mintel.com/ Mintel. (2018c) Lifestyles of Generation Z. [Online] [Accessed 28th December 2018] http://www.mintel.com/ Moran, G. (2017) The Secrets of Supreme success. [Online] [Accessed 3rd December 2019] https://www.drapersonline.com/retail/the-secrets-of-supreme-success/7025817.article Osiris. (2019) Kering: Financial Data. [Online] [Accessed 7th January 2019] https://www.bvdinfo.com/en-gb/our-products/data/international/osiris Primack, B. A., Shensa, A., Sidani, J. E., Whaite, E. O., Lin, L. Y., Rosen, D., Colditiz, J. B., Radovic, A. and Miller, E. (2017) ‘Social Media Use and Perceived Social Isolation Among Young Adults in the U.S.’ American Journal of Preventive Medicine, 53 (1) pp. 1-8 Posner, H. (2015) Marketing Fashion: Strategy, Branding and Promotion. 2nd ed., London: Laurence King Publishing Petter, O. (2017). ‘Vetements Release EU Flag-Branded Hoodie.’ The Independent. [Online] 10th August. [Accessed 24th December 2018] https://www.independent.co.uk/life-style/fashion/vetements-eu-flag-hoodie-remain-brexit-blue-yellow-paris-guram-d enmar-gvaalia-a7886461.html Pierson, T. (2018) When Is the Best Time to Post on Instagram in 2018? [Online] [Accessed 29th December 2018] https://www.ecommercedailynews.com/when-is-the-best-time-to-post-on-instagram-in-2018-cheat-sheet/ Rumsey, A. (2015) Gender-Neutral Retail – Does it Have a Future? [Online] [Accessed 29th December 2018] https://www-wgsn-com.ezproxy.mmu.ac.uk/content/board_viewer/#/56938/page/1 Statista. (2018) Gross minimum wage per hour in France from 2005 to 2019, in euros. https://www.statista.com/statistics/460606/minimum-wage-france/[Online] [Accessed 1st January 2019] Sowray, B. (2016) This is why Vetements is so Expensive and Hard to Get Hold of. [Online] [Accessed 2ndJanuary 2019] https://www.elle.com/uk/fashion/news/a30080/this-is-why-vetements-is-so-expensive-and-hard-to-get-hold-of/ Street, C. (2018) Vetements is making a political statement in the Harrods windows. [Online] [Accessed 24th December 2018] https://www.standard.co.uk/fashion/vetemenets-harrods-overproduction-window-display-statement-a3761606.html Samuel, H. (2018). ‘Paris overtakes London in the super-rich league as the ‘Macron effect’ lures the wealthy to the city of light’. The Telegraph. [Online] 6th September. [Accessed 2nd January 2019] https://www.telegraph.co.uk/news/2018/09/06/paris-overtakes-london-super-rich-league-macron-effect-lures/ Sperber, S. (2016) Handbook of Research on Global Fashion Management and Merchandising. Pennsylvania: Business Science Reference
Vetements x humains Tan, E. (2017) The Luxury Fashion Brands that are Winning with UK Millennials. [Online] [Accessed 2nd January 2019] https://www.campaignlive.co.uk/article/luxury-fashion-brands-winning-uk-millennials/1424566 Vetements. (no date) Fashion Shows. [Online] [Accessed 1st January 2019] http://vetementswebsite.com/fashion-show/spring-2019/ Veblen, T. (1899) The Theory of the Leisure Class. New York: Penguin Walker, J. (2017) Are luxury brands doing enough to appeal to Generation Z? [Online] [Accessed 29th December 2018] https://www.lsnglobal.com/opinion/article/21524/are-luxury-brands-doing-enough-to-appeal-to-generation-z WGSN. (2018) Men's Colour A/W 20/21. [Online] [Accessed 30th December 2018] https://www.wgsn.com/fashion/ Widdop, L. (2018) ‘The Future of Artificial Intelligence: Is Your Job Under Threat.: Lucia Widdop from Ai vs Humanity.’ Software World 49, (3). [Online] [Accessed 1st January 2019] http://link.galegroup.com/apps/doc/A543900374/ITOF?u=mmucal5&sid=ITOF&xid=2074a30a.
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Image list Vetements Instagram. (2018) Girl with glasses wearing Vetements coat. [Online image] [Accessed on 10th January 2019] https://www.instagram.com/p/Bpge3kAhd8n/ Vetements. (2016) Models backstage. [Online image] [Accessed on 10th January 2019] http://vetementswebsite.com/backstage/fall-2016/ Vetements Instagram. (2018) Girl wearing striped coat. [Online image] [Accessed on 9th January 2019] https://www.instagram.com/p/BsTS2n5Bxtv/ Vetements Instagram. (2018) Girl wearing fringed jacket. [Online image] [Accessed on 5th January 2019] https://www.instagram.com/p/BqaNkeTh3Lb/ Vetements Instagram. (2018) Girl smoking cigarette in green dress. [Online image] [Accessed on 5th January 2019] https://www.instagram.com/p/BsEnqpiBDJ7/ Vetements. (2018) Model wearing oversized jacket on runway. [Online image] [Accessed on 5th January 2019] http://vetementswebsite.com/fashion-show/spring-2019/ Vetements. (2018) Model wearing tattoo body suit on runway. [Online image] [Accessed on 5th January 2019] http://vetementswebsite.com/fashion-show/spring-2019/ Vetements. (2018) Model wearing oversized tux jacket on runway. [Online image] [Accessed on 5th January 2019] http://vetementswebsite.com/fashion-show/spring-2019/ Dazed. (2018) Vetements x Harrods window display. [Online image] [Accessed on 6th January 2019]http://www.dazeddigital.com/fashion/article/38927/1/your-clothes-could-form-part-of-vetements-installationharrods-window-london Vetements Instagram. (2018) Boy with tattoos wearing white Vetements logo top. [Online image] [Accessed on 6th January 2019] https://www.instagram.com/p/Bq7J8GKBxl5/ Vetements. (2016) Model wearing lilac dress. [Online image] [Accessed on 6th January 2019] http://vetementswebsite.com/backstage/spring-2017/ Vetements Instagram. (2018) Boy wearing Vetements logo headscarf. [Online image] [Accessed on 6th January 2019] https://www.instagram.com/p/Bqt20JmBOne/ Vetements. (2015) Girl wearing snakeskin skirt. [Online image] [Accessed on 6th January 2019 http://vetementswebsite.com/backstage/spring-2016/ Vetements. (2016) Model in black with brown bag. [Online image] [Accessed on 6th January 2019] http://vetementswebsite.com/backstage/spring-2017/ Vetements. (2016) Model wearing leather dress. [Online image] [Accessed on 6th January 2019] http://vetementswebsite.com/backstage/fall-2016/
Vetements x humains Vetements. (2016) Boy in red wearing hat. [Online image] [Accessed on 7th January 2019] http://vetementswebsite.com/backstage/fall-2016/ Vetements. (2016) Model wearing leather with chain. [Online image] [Accessed on 7th January 2019] http://vetementswebsite.com/backstage/fall-2016/ Vetements. (2014) Model wearing collar jumper. [Online image] [Accessed on 7th January 2019] http://vetementswebsite.com/backstage/spring-2015/ Thestorefront. (no date) Interior of Pop up store in Marais. [Online image] [Accessed on 5th January 2019] https://www.thestorefront.com/spaces/france/Ile-de-france/paris/5725-urban-pop-up-store-in-lemarais WGSN. (2015) Gender Neutral Merchandising. [Online image] [Accessed on 5th January 2019] https://www.wgsn.com/content/board_viewer/#/56938/page/1 Vogue. (2018) Interior of pop up store in Paris. [Online image] [Accessed on 5th January 2019] https://en.vogue.fr/fashion/fashion-news/story/vetements-opens-a-pop-up-store-in-paris/1396 HighSnobriety. (2018) Vetements product in Paris Pop Up. [Online image] [Accessed on 4th January 2019]https://www.highsnobiety.com/p/vetements-pop-up-store/ Vetements. (2016) Model in pink. [Online image] [Accessed on 5th January 2019]http://vetementswebsite.com/backstage/spring-2017/ Vetements. (2014) Girl in black and white smiling. [Online image] [Accessed on 5th January 2019] http://vetementswebsite.com/backstage/spring-2015/ Vetements. (2014) Girl in black and white posing. [Online image] [Accessed on 7th January 2019] http://vetementswebsite.com/backstage/spring-2015/ Vetements. (2014) Boy in black and white. [Online image] [Accessed on 8th January 2019] http://vetementswebsite.com/backstage/spring-2015/ Vetements. (2016) Boy wearing green boots. [Online image] [Accessed on 5th January 2019] http://vetementswebsite.com/backstage/spring-2017/ Pinterest. (no date) Japanese Street style. [Online image] [Accessed on 5th January 2019] https://www.pinterest.co.uk/pin/92675704816104881/ WGSN. (2018) Aerial view of forest. [Online image] [Accessed on 5th January 2019] https://www.wgsn.com Vetements Instagram. (2018) Vetements trainers. [Online image] [Accessed on 5th January 2019] https://www.instagram.com/p/BpWqEKohtgT/ Vetements Instagram. (2018) Girl with pink hair and logo dress. [Online image] [Accessed on 10th January 2019] https://www.instagram.com/p/BhXDkYgnIQt/
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WGSN. (2018) Tux jacket with pink coral. [Online image] [Accessed on 10th January 2019] https://www.wgsn.com/ WGSN. (2018) Stacked Marble. [Online image] [Accessed on 10th January 2019] https://www.wgsn.com/ WGSN. (2018) Two men in streetwear. [Online image] [Accessed on 9th January 2019] https://www.wgsn.com/ WGSN. (2018) Girl with purple background. [Online image] [Accessed on 10th January 2019] https://www.wgsn.com/ Vetements. (2016) Girl in purple boots. [Online image] [Accessed on 10th January 2019] http://vetementswebsite.com/backstage/spring-2017/ Mr Porter. (no date) Distressed Printed Loopback Cotton-Blend Jersey Hoodie. [Online image] [Accessed on 10th January 2019] https://www.mrporter.com/en-fr/mens/vetements/distressed-printed-loopback-cotton-blend-jersey-hoodie/1116204? ppv=2
Supreme. (2019) Black hoody. [Online image] [Accessed on 10th January 2019] https://www.supremenewyork.com/shop/sweatshirts/yw4mifo2y/mfpgus8tw
Mr Porter. (no date) Oversized Printed Fleece-Back Cotton-Jersey Sweatshirt. [Online image] [Accessed on 10th January 2019] https://www.mrporter.com/en-gb/mens/vetements/oversized-printed-eece-back-cotton-jersey-sweatshirt/1116208? ppv=2 Matches Fashion. (no date) Logo cotton-jersey track pants. [Online image] [Accessed on 10th January 2019] https://www.matchesfashion.com/products/Vetements-Logo-cotton-jersey-track-pants-1221818 Mr Porter. (no date) Alpha Industries Oversized Reversible Printed Shell Bomber Jacket. [Online image] [Accessed on 10th January 2019] https://www.mrporter.com/en-gb/mens/vetements/--alpha-industries-oversized-reversible-printed-shell-bomber-jack et/1116231?ppv=2 Balenciaga. (no date). Bomber biker jacket. [Online image] [Accessed on 10th January 2019] https://www.balenciaga.com/fr/vestes_cod41801230pu.html#/Search/Index Yeezy. (no date) Womens printed thermal. [Online image] [Accessed on 10th January 2019] https://yeezysupply.com/products/printed-thermal-gravel?c=%2Fcollections%2Fnew-arrivals-tops Off-White. (no date) Black Track Pants. [Online image] [Accessed on 10th January 2019]
https://www.off---white.com/en/FR/men/products/omca085r19c010211000#image-0
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Bibliography Broekhuizen , T. L. J. (2006) Understanding Channel Purchase Intentions: Measuring Online and Offline Shopping Value Perceptions. Labyrinth Publications, Ridderkerk Cochrane, L. (2017) ‘How streetwear restyled the world – from hip-hop to Supreme and Palace’. The Guardian. [Online] 29th March. [Accessed 29th December 2018] https://www.theguardian.com/fashion/2017/mar/29/how-streetwear-styled-the-world-from-hip-hop-to-supreme-an d-palace Clapperton, G. (2012) This is Social Commerce. Chichester: John Wiley & Sons. Hooley, G., Piercy, N. F., Nicoulaud, B. and Rudd, J.M. (2017). ‘Competitive Positioning Strategies’ In (ed.) Marketing strategy & competitive positioning. 6th ed., Harlow: Pearson Financial Times/Prentice Hall, pp.237-332 Hyland, V. (2018) Millennials and Gen Z Are Pushing the Fashion Industry in a New (More Inclusive) Direction. [Online] [Accessed 31st December 2018] https://www.elle.com/fashion/a20066562/millennials-gen-z-fashion-virgil-abloh-shayne-oliver-2018/ Keyes, D. (2018) The Future of Artificial Intelligence in Retail. [Online] [Accessed 28th November 2018] https://www.businessinsider.com/the-future-of-retail-ai-2018-8?IR=T Kane, L. (2017) ‘Meet Generation Z, the “Millennials on Steroids” Who Could Lead the Charge for Change in the US.’ [Online] [Accessed 31st December 2018] https://www.businessinsider.com/generation-z-profile-2017-9?r=US&IR=T Makkar, M., Yap, S. (2018) ‘Emotional experiences behind the pursuit of inconspicuous luxury.’ Journal of Retailing and Consumer Services, 44 (September) pp. 222-234 Mintel. (2017) Three ways Artificial Intelligence is going to impact the retail sector in 2017. [Online] [Accessed 28th December 2018] http://www.mintel.com/
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Appendices Figure 2. Fashion Market Pyramid (Posner, 2015:15)
Haute Couture Luxury Fashion Bridge Brands Diffusion Lines High Street Economy Brands
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Vetements x humains Figure 4. Online Competitive Shop (Mr Porter, n.d.) Vetements RRP £620 690€ 80% cotton, 20% polyester XS-L
(Mr Porter, n.d.) Vetements RRP £590 660€ 100% cotton; trim: 97% cotton, 3% elastane XS-L
(Matches Fashion, n.d.) Vetements RRP £655 733€ 85% cotton, 15% polyester XS-L
(Mr Porter, n.d.) Vetements RRP £1,215 1,350€ 100% nylon XS-L
(Supreme, 2019) £148 165€ Cotton Fleece S-XXL 6 Colourways Available
(Yeezy, n.d.) RRP $220 100% Cotton Thermal XS-L
(Off-White, n.d.) RRP £430 471€ 100% Polyamide XS-L
(Balenciaga, n.d.) RRP £2,500 2,690€ 50% Calfskin, 50% Polyamide 34-44
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Figure 5. Product Life Cycle (Gowerek, 2007:160)
Growth
Quantity of Sales
Introduction
Time
Maturity
Decline
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Figure 6. SWOT Analysis of brand Vetements (Easey, 2009:242). Strengths Vetements Instagram Community: With a following of 3.2 million followers on Instagram, this following operates a digital community which cultivates a sense of inclusivity to the brand and also a waiting list of potential consumers to which Vetements can advertise to 24/7. Also, allows brand to control its image by solely advertising via Instagram. Celebrity Endorsement: Vetements’ clothing has been worn on the backs of Rihanna, Kim Kardashian and Kanye West who are viewed as leaders of style. This level of brand promotion will be invaluable for Vetements. Brand Extensions: Through collaborations with high equity brands such as Manolo Blahnik, Levi's, Dr. Martens, Reebok, Vetements can expand their existing customer base. Strong Brand DNA: Recognisable oversized, satirical and socially charged aesthetic. Provides a “uniqueness� to products with resonates with younger consumer (Baron, 2018).
Opportunities Brick and Mortar Presence Use of pop up retailing should offer data into the commercial viability of a high street presence. Collaborations Continue collaborations with high equity brands in order to increase brand reach, as well as unexpected brands/movements to keep customers guessing and maintain satirical element to the brand. Expand Size Range Extend size offering in order to accommodate for the rise in obesity and more inclusive calls for fashion.
Weaknesses Price Point Price points have been a point of criticism for the brand. Cheaper, similar products are available to consumers from brands such as Supreme and Stone Island. E-Commerce No means of buying product directly from brand online, the site itself acts as a medium to promote their products and Instagram community Lack of appeal to older consumers Despite shows using age diverse models, the clothes are heavily invested in youth culture and heavy branding which may put off older, less inconspicuous consumers. Lack of sizes within range Only stocks XS-L, limiting its customer reach in light of inclusive sentiment in fashion sector.
Threats Competitive Market Vetements is competing in a saturated streetwear and luxury market as detailed by the brand positioning map. Vetements will have to continue to be innovative in order to maintain market share. Brexit Economic uncertainty in British consumers could mean a dip in luxury spending.
(Vetements,2016)
Vetements x humains A Business Proposal Felicity Pollard 18060519
