STRATEGIC MARKETING AND MERCHANDISING PLAN ,ALEJANDRO GONZALEZ AND TERESA BUHIGAS 6FAMK004C Marketing Technique and Strategy 3. CW1 BA (Hons) Fashion Marketing, Level 6. 2018-2019 LAURA HARADA PLANAS
LOUNGEWEAR & SLEEPWEAR COLLECTION
INDEX THE CHALLENGE METHODOLOGY INTERNAL ANALYSIS EXTERNAL ANALYSIS PROPOSAL CONCLUSION ANNEX REFERENCES
THE CHALLENGE
Bimba y Lola is a Spanish women’s fashion brand known primarily for their handbags and outerwear. The company was founded in 2006 by the sister design duo Uxia and María Dominguez Rodriguez in Galicia, Spain and have since further on expanded to international markets across the world reaching a quantity of over 250 stores. Upon conducting an internal and external audit of the brand it was concluded that there is an existing gap in the loungewear segment that could be exploited by Bimba y Lola. The challenge of this marketing proposal is to introduce a Loungewear/ Sleepwearcapsule collection to their website ans several own, flagship and franchised stores. Being a brand focused on women, the brand has proven to evolve with its consumers in order to stay relevant in terms of communicating the brand messages and adopting attractive visual codes in their designs. However, based on the interviews it was remarked that Bimba Y Lola’s main asset lies within its bags and small leather goods here in Spain and its apparel is not often considered because of the brand perception women have about the brand’s old image. As mentioned before the brand has proven to evolve and invest efforts into being more trendy and creating visually striking communication, which is why the novelty of the capsule collection will raise awareness about the other categories in the ready to wear section adn will gain Bimba Y Lola market share and differentiation from its competitors for the loungewear sector is an unexplored territory by these others and have a wide demand at an international level.
METHODOLOGY
In order to obtain primary source consumer insights about the brand and its competitors a qualitative study was conducted through personal interviews with Bimba Y Lola consumers. Further more, in order to obtain more technical information about the internal and external environment of the brand it was necessary to research financial reports and articles written about the company’s strategy as well as analysing its website and social media platforms (communication) to determine brand values and elements. The main objectives for the research is to understand the current and potential consumer shopping for Bimba Y Lola and the Loungewear collection, find flaws in their social media engagement to further promote the products more efficiently to the desired target and identify the trends and factors that make a loungwear-sleepwear brand desireable enough to pay premium prices for homewear.
INTERNAL ANALYSIS
BRAND OVERVIEW Bimba Y Lola is a Spanish company focused on premium womenswear founded by sisters Uxia and Maria Dominguez in 2006. Its international presence accounts for more than 250 stores through franchises and owned boutiques. Since its foundation in 2006, the company has undergone evolutions of the image and legal name, constantly refreshing in order to keep up with their young target market. The company designs, purchases and distributes womenswear and accessories. From their initial inception of 70 stores in major cities in Spain and Portugal, to this day they have over 250 stores worldwide in Europe, Asia, Latin America, and the Middle East.
Sales and Profits From its origins with an initial investment of 15 million euros, Bimba y Lola has thrived in financial terms increasing their profits by over 20% with every turning year. Although no detailed annual sales report is published by the company, statements regarding their financial data and prosperity have been covered by the media press. In recent years the company has attempted to go public and be sold to investors but have ended up retrieving at the last minute. As of 2017, Bimba y Lola increased their profits by 18.5% resulting in a gross profit of 180 million euros. The driver of this powerful increment, as stated by the company, is the focus in revising and improving their margins in a constant matter and investing in a logistics system for more efficiency in their international expansion strategy. Their international expansion has been a crucial part to their revenue streams, using a franchising model to enter Asian and Latin American markets enabled them to open 27 stores in a year’s period (2017). 26% of the company’s profit share lies within the points of sales abroad (outside of Spain, France and Portugal), while France and Portugal add up a significant 20% of Bimba y Lola’s growth (modaes.es, 2019). Upon terminating their selling offer in 2018, the company created Bimba y Lola Inversiones an investing association where funds are meant to diversify the assets belonging to the group with a social purpose. Furthermore, they have embarked in a new strategy plan 2018-2022 developed by Jose Manuel Martinez focusing in, once again, internationalization, e-commerce, and Omni channel experience (elEconomista.es, 2018). Their online growth has penetrated 30 markets and will continue to close the loop with their physical shops in order to offer a superb brand experience to customers.
Milestones 2006
Foundation of the brand originally Moet & Mos inpired by the dogs and origin of the designers, Uxia and Maria Dominguez. Neices of the Spanish designer Adolfo Dominguez and daughters of Jesus Dominguez the founder of holding company Sociedad Textil Lonia (STL).
2006 2008 2010
First store chain launches 15 in Iberia. Beginning of internationalisation expansion with first opening in Paris Launch of Online store. bimba&lola.com
2012
4 years into the expansion plan, Bimba y Lola reach 161 direct operated stores present in 13 countries.
2013
Four stores in London and expansion to Lebanon and Peru. Brand logo change from Bimba & Lola to Bimba Y Lola, bold print font in attempt to highlight the Spanish origin of the company in midst of their internationalisation.
2014
Launches swimwear collection
2016
Implementation of 100% renewable energy in its facilities.
2017
A collaboration with empowered women from around the globe sharing their BIMBA Y LOLA vision. Female artists direct and illustrate for the brand in an effort of the brand to position the brand as a cult art firm.
2018
Launch of Dremas TV directed by Eduard Casanova a series of mini fashion films to promote their Winter Campaign.
2014
2017
2018
STRATEGIC BASIS
target declared by the brand Creative Director of the brand, Roman Lata, defines the ideal persona that shops in Bimba y Lola as a “well-cultured woman who loves to read and travel. She exists for herself and isn’t swayed by others; she’s very sociable, but is happy to be by herself; she’s intelligent and doesn’t want to be defined by what she wears. She understands fashion, and has good taste. She’s pretty special.”( Lata interviewed for Vogue UK, 2013) Traditionally, Bimba y Lola aimed to appeal to a wide segment of Spanish women between the ages of 20-50. Being raised in the Spanish retail business, the designers of the brand understood what styles and accessories where functional and essential to Spanish women. For this reason, the classic designs and models where bought by students or working women who needed a basic and discrete everyday bag but still offered the recognition of a midrange label. However, the brand started to become unappealing to the youngest fashion forward segment of their target which is why they have redesigned their brand image and have transformed their products towards a millennial market. Using quirky, colorful and Scandinavian structured designs not only have they refocused to a 20-35 age group but also an international female consumer in urban cities in America and Asia. These women usually live in urban cities and are concerned about combining fashion pieces to create a statement and express their individuality. They are either students or workers, who have mid-high income spent mostly in social experiences and whose remaining money is spent of good quality ready to wear offering style and durability.
Central to the success of the brand is its ability to penetrate the semi-luxury segment, by tracing and adopting trends at an accessible price. Therefore, understanding the current image and aesthetics of a luxury product is crucial to the performance of their offer. Their main strength are the bags which have a varied selection of shoulder bags, mini bags, totes, shoppers, backpacks and bum bags made resistant materials such as nylon and lamb leather and offered in a variety of colors in order to appeal to their large target segment. Its design seeks to feed the need of a modern woman of 25-45 years of age in search of a premium product at an accessible price.Design, price and quality are the main pillars in which Bimba Y Lola focuses and have linked the brand to an ideal female living in an urban and cosmopolitan environment who values refined tastes but practicality above all, in other words a modern woman. Ready to Wear, bags, small leather complements, accessories, shoes and jewelry construct the commercial offer in Bimba Y Lola which over the years has diversified and reinvented its style in order to appeal to the large segment of women worldwide. Internationalization being a key success factor to the brand, the design of the garments and communication has shifted its focus from a centralized Spanish woman towards an international millennial fashion consumer who might equally be from Korea, Paris, Kuwait or Chile. Bimba Y Lola profit from their maximization of bags, leather complements and accessories. The extensive variety, versatility, and lowered prices of these products have made them the star products of the label. Ranging from a as low as 30 euros to their premiumest handbag barely costing 500 euros, these categories alone account for 58%of the merchandise collection and handbags alone earn over 40% of the company’s revenue.
As previously mentioned Bimba Y Lola seeks to offer a luxury experience at an accesibe level which is why all of the stores are located in strategic cities and streets where regularly medium to high income pedestrians stroll by due to its proximity of similar or higher end boutiques. Also, the interior display and architecture of the stores are designed in resemblance to small Parisian ateliers which offer a personalized customer service and make emphasis in the handbags and accessories which are perceived as luxurious but price accessible. Many luxury houses use this strategy in order to evoke exclusivity, and do not require extra investment in product manufacturing, which is why it is a smart method for the company to be closer to their ideal positioning and increase rotation. Since their change in logo and image, Bimba Y Lola have attempted to communicate to younger and more international customers as a brand which embraces its Spanish roots but has also adopted the latest international trends not limited to one market. Bold lettering and visual montages in their campaigns address the mixture of technology/futurism, female spirit and nature resulting in often surreal imagery. In recent years, mini fashion films and collaborations with artists have improved the brand’s image and aesthetic in its attempts to reach fashion forward young target. However, they should be more present and active in their core social platforms which include Instagram, Facebook, and Youtube since they have over 200 points of sale worldwide their online presence should be consistent and synchronized with their physical experience worldwide.
.Mission Lead women worldwide to stand out and make a statement in their day-to-day.
product Elegant High-Spirited Day to Day One of the aspects the label has tried to continiously improve is the design of their garments and bags. Referred to as a “colorful Sandro”, the modern feminine garments are oriented to millenial women living in Cosmopolitan cities worldwide. For the most part, they have a balanced mix of simple sihlouettes similar to Scandinavian brands infused with colorful and edgy prints.
price Affordable semi-luxury Offer a high-end looking product for a lower price than its competitors internationally. Located in strategic markets, streets and corners with a heavy flow of customers with high purchasing power. Have wide selection of products ranging from 30 euros to 400 euros.
communication
INTERNAL VALUES
Competitive strategy
Imaginative and Surreal Artistry Part of their focus in millenial customers is having a strong communication similar to luxury fashion brands in order to add value to their product proposal. Collaborating with art directors, to create fashion films and campaigns is a way to position Bimba Y Lola in the higher end always stressing the role of modern women.
POSITIONING PROPOSAL COMPETITIVE VALUE Bimba Y Lola’s main focus is the expansion of their points of sale networks worldwide in strategic cities. The diversification of sales models such as franchises, own stores,corners and outlets has enabled them to reach their target worldwide and export the household name from Spain into the international scope. In addition to this, the accessible prices for their high-street products have satisfied the niche of strategic luxury and the fair relation of price-quality has made Bimba Y Lola appealing to a much wider segment than their declared main target. Strategically they have sales all year round and outlets in order to increase margins with every new season and also reach customers, as entioned earlier who cherish the brand aspirationally.
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MARKETING MIX
Cosmopolitan Dress-up
Bimba y Lola specializes in women’s fashion products. Currently the brand offers a ready to wear collection, bags, small leather goods, shoes, jewelry and accessories. The current collection is their summer 2019 called Sedimental which takes inspiration from earth, nature and human kind. What characterizes this collection is its distinctive print of minimalist yet colorful rocks textured in a modern illustration. There is a balanced mix of soft light and heavy structured pieces, this goes in line with the playfulness of crossing masculine and feminine fashion which no longer has a defined boundary. The categories with largest selection are the small leather goods and jewelry which happen to have the lowest price points but are also responsible for the steady cash flows for the company. Secondly, bags contribute a significant percentage of the products in the store. Through their communication and store display, bags are marketed as their star products and hold a central position in the brand’s competitive offer. As it can be observed in the product distribution, bags, clothing, and shoes all together only makeup 36% of the entire product selection. Despite being the brand’s primal focus and products displayed in their campaigns and advertisements, Bimba Y Lola has invested significant resources to improving their communication and image in order to attract customers to at least venture into their store experience. The purchase of their highly marketed products (bags, shoes and clothes) are followed by the impulsive purchase of their abundant and price accessible accessories and small leather goods to complement their purchase and in some cases, are their comfort purchases if they have not obtained their initial desired product. Since its initial launch Bimba Y Lola has continuously tried to improve their clothing line and have persistently collaborated with female artists in attempts to support female creative expression. In doing so, they have experimented with new fabrics and silhouettes which push away from the traditional Spanish fashion from the 2000s and have implemented bold prints and textile illustrations designed by these female artists. Upon critical evaluation of the fabrics in the ready to wear collection, data shows that that the most persistent colors used throughout all products categories are not limited to solid colors but to multi-colored patterns and printed illustrations. This fact specifically addresses the trousers, skirts, shirts, and dresses families which demonstrate greater potential for growth in the future. However, according to store interviews outerwear garments such as jackets and coats are the best-selling categories within the ready to wear and over 64% is of a neutral solid tone (Beige, Khaki, Denim, Black and Navy). The predominant fit on the garments are either loosely straight or oversized and the predominant fabric for printed blouses, dresses and trousers is Viscose and Cuprammonium rayon for delicate pieces.
Current Collection SS19 “Sedimental” women’s clothing inspired
by the formation of the earth, nature and humankind. (BimbaYLola.com, 2019)
26 Looks
Products Assortment
Ready to Wear Bags Small Leather Goods Shoes Jewellery Accesories
*Taking into account a total of 437 items in their online store as 100%
SMALL LEATHER GOODS: WALLETS, COIN PURSES, BILLFOLDS, CARDHOLDERS, BEAUTY BAGS, PENCIL CASES
SHOES: BOOTS, BALLERINAS, SNEAKER, COURT SHOES, SANDALS.
BAGS: SHOULDER BAGS, SMALL BAGS, TOTES, SHOPPERS
BACKPACKS AND BUMBAGS.
JEWELLERY: EARRINGS, NECKLACES, BRACELETS, RINGS.
ACCESORIES: SCARFS, SHAWLS, MOBILE CASES, UMBRELLAS, KEY RINGS
SUNGLASSES.
READY TO WEAR COLLECTION STRUCTURE
JACKETS AND COATS 17%
TROUSERS AND SKIRTS 22%
KNITWEAR 9% T-SHIRTS AND TOPS 20%
DRESSES 15%
SHIRTS AND BLOUSES 17%
Upon analyzing Bimba Y Lola’s ready to wear products in their online store and interviewing several sales people in the stores, it was concluded that their topselling categories are the jackets and coats (outerwear) and the knitwear, eventhough it only accounts for only 9% of the collection and is not focalised in their visual merchandise. Which leads to beleive that the customer who shops clothes in Bimba Y Lola are willing to invest in versatile pieces for the season as is the case for coats, but not for basic clothing peices such as jeans and t-shirts. Interviews revealed that shoppers looking for products such as dresses, t-shirts and trousers buy in lower priced stores that offer trendy clothes such as Mango and Zara, and those who have the purchasing power to buy at the price point of Bimba Y Lola for these products would much rather buy in Sandro or Uterque.
Jackets and Coats: Short, long, oversized, bomber, blazer, denim, tweed, tailored, raincoat, trench
Knitwear: Jumper, Sweatshirt, Cardigan
Dresses- Shirt, short. Midi,long, printed, polo
Shirts and Blouses
T-shirts and Tops: polo, t-shirt, bodysuit
Trousers and Skirts: mom jeans, joggers, miniskirts, denim skirts, straight trousers, pleated skirt, midi skirts, Bermuda shorts, skinny jeans, fluid finish trousers
Prints and Colors in the collection
PRICE CATEGORIES
ITEMS AV.PRICE RANGE
CHEAPEST
MOST EXPENSIVE
Washed out denim jacket standard Oversized trench coat with hood exterior fit unlined made up of 100% cotton. made of 100% polyamide on the exterior lining and 100% polyester in the inside.
JACKETS 28 AND COATS
KNITWEAR 21
Dresses
Shirts and Blouses
23
27
225
114
150
116
135-350
100% cotton knitted long sleeve sweater. Plain seasonal print, a classic silhouette used in every collection. Currently the cheapest because it is from the last collection and has no distinctive or elaborate design nor composition.
Knitted cardigan blended with linen and polyester an oversized fit and skillful sleeve silhouette (bell sleeve). A printed jacquard bomber jacket made out of viscose from the new collection.
Printed mini dress which is a blend from polyester and cotton (cheap materials)
100% viscose maxi dresses from the new collection.
Structured short sleeve top 100% cotton available in green blue and neon green.
Plaid print of the season blend of acrylic and viscose fluid shirt.
85-150
95-175
85-225
T-SHIRTS AND TOPS
*many items priced at 39 original price which usually is a discount pricing for the brand. Also enables them to price cotton t-shirt nearly at 40 euros but in the consumers mind its still within 30’s range
TROUSERS AND SKIRTS
HANDBAGS
SMALL LEATHER GOODS
34
33
78
109
63
Short sleeve cotton t-shirt available in basic plain colors such as white, black and grey.
Print of the season smocked shirt.
Most denim jeans are priced at 95. Most of them are entirely made from cotton but others are blended with 2% elastane.
Tailored high wasted Palazzo striped pants made from acrylic and viscose.
Logo branded plain nylon cross body bags or pouch
Leather bum bags in cream and black. (a new silhouette within the bags of Bimba Y Lola)
Pencil cases and beauty bags.
Wallets made out of Italian cow skin heart shaped buckle.
39-95
115
222
67
95-175
90-495
25-125
PLACEMENT Since its initial launch in 2006 in Spain, Bimba Y Lola directly operates in 14 international markets and has over 249 points of sale. At the core of their 2018-2022 strategic plan is the acceleration of their international expansion in strategic markets which has proved to be the major focus of the brand in recent years. Furthermore, the Omni channel capabilities continue to be developed in the digital space as well as the expansion of their store network. Depending on the country where it is being ordered, shipping and handling can be free for as low as 30 euros or 100 pounds which is the case in the UK. Naturally, their Omni channel capabilities are heightened the most in Spain where they have a wide selection of pickup points that include stores and mails office, as well as free returns in any of their stores except corners in El Corte Ingles and Outlet stores. In Iberia alone, there are 171 points of sale all of which are either own stores, outlet stores or corner in El Corte Ingles. This is the reason why Bimba Y Lola excels in distribution in this region because of the wide scope they cover in reaching the consumers as well as the heightened Omni-channel pick-up and return system and the stock connectivity in all stores in the region to confirm availability immediately to customers. Overseas there are own stores as well, in strategic markets such as Paris, London, Milan and most recently a compilation of franchises in Latin American countries such as Mexico, Chile and Colombia.
32% 68% Bimba Y Lola’s expansion strategy is propelled by the use of franchises with clear and specific regulations highly accessible and requested through their online store. All requirements are addressed to protect and a sure the efficiency of store logistics and replicate the brand experience wherever the store is opened. Brick and mortar store experiences are simple and ordinary. The aesthetic in stores is neat and exclusive but technology and innovative store interventions are lacking in order to coincide with their communication and modern values they want to transmit. Cross-marketing has been a recent development that has helped sales promotions online and raise brand awareness through social media. Store visits where conduct in Barcelona in a primary and secondary street in order to receive primary observation when describing the Bimba Y Lola physical shopping experience .
Rambla de Catalunya, 84 A 250 m2 space, located just one block away from the flagship store in Passeig de Gracia, this is a more discrete store due to its size and modest display. Only a few (4) mannequins wearing the latest collection are displayed in the narrow window space next to the entrance. In the left side of the entrance hall of the store before entering the main floor which is at the end of the store, are the new arrivals displayed in rack with no more than 2 sizes per references organized by color families with the collection. To the right side of the hall are the accessories such as shawls and scarfs and jewelry pieces. Still at the right side of the hall after the scarfs, is a small cashier desk basically in the middle of the store. The main space of the store is located in the back with a bright and geometric interior design. In the rear left are the handbags and accessories such as umbrellas and small leather goods. In the far back of the store are the fitting rooms (4), in the right side of the rear of the store are the shoes with a fitting couch, and the rest of the walls have more ready to wear specifically coats from past season and folded merchandise such as t-shirts and jumpers. In the center piece, there are more accessories and small leather goods.
PROMOTION Brand Elements
Logo Wordmark with the name of the brand in bold sans serif letters. This was one of the measures taken when the brand decided to reinvent its image and redirect to millennial consumers in international markets. Tone of voice Feminine, young, humorous, fun, mysterious, empowering Unique selling proposition The brand is focused in dressing modern women in urban cities from head to toe and be ready to look their best in their everyday lives. Their approach is focused in luxury at an affordable price (semi-luxury) supported by good sales and mid-season discounts promoted in all of their points of sale at the same time. Part of their accessibility, besides from price lies in their growth expansion internationally both with franchises and online shipping locations. Color palette In their latest campaigns, they focus in mixing warm elements of nature with the frivolity of technology and neon (synthetic) colors and materials. Their modern logo and typography is mainly black but recently they are presenting the brand label in colored boxes in the bottom right corner.
Technology Their visual elements are post produced using digital programs to achieve a surreal and computerized effect. Surreal the combination of opposing themes and elements in one image to display products resulting in surreal image creations that show the creative and artistic attributes in the company. Color Power As opposed to their other semi-luxury streetwear competitors, Bimba y Lola’s approach to sophistication is not based on monochrome neutrals or black and white. They have very simple silhouettes complemented with prints and bright colors partnered with bright art direction as well.
POES Media Mix Paid Media Magazines
Pay for promotional spaces in print and online magazines of their campaigns and editorials. Are featured in articles in Vogue, moda.es, T-magazine, Clash Magazine, IN Style , Glamour.es
Sponsored Content
Bimba Y Lola does not use influencers to sponsor their content but rather invest their budget in advertising and digital marketing. Howevr their do collaborate with artists and bloggers to launch new products and create campaigns as is the case with Jeanne Damas and Anna Kras.
Earned media Events
In various occasions Bimba Y Lola have launched events and cocktail parties present new collections such as with their 2012 Spring Summer Collection in London and their past XMAS event taken place in Milan.
PR
Many users some considered to be micro influencers tag the brand in their pictures and this generates content for them and brand awareness for the Bimba Y Lola.
Word of Mouth
Specially in Spain, this is the most powerful tool of the company because over the years it has become a household name where mothers and daughters have been buying for more than 10 years. For each campaign, Bimba Y Lola have hashtags encouraging customers and users to identify their shared experiences through them
Owned Media
Website
Dedicated to sales but also discover the current and past campaigns, editorials, stories and information about franchises and careers. It also links the user to their other main social medias which are Facebook, Twitter, Instagram, and Youtube. The website displays a minimalistic design only black and white except the campaigns in the home page. The product feeds are plain with seamless white background where only the models with the products appear with the product name and price.
Instagram 654k followers
Have a very coherent and organized aesthetic feed sectioned by campaigns with only editorial look books and brand-produced content. Rarely do posts has direct shop link but their advertisements in Instagram do. All of their pictures have more than 1,000 likes but very low engagement less than 60 comments. In their highlights, they have organized sections according to campaigns, stories, prints and IGTV with episodes from their dream TV project. They maintain a rhythm of 1 post every 2 days.
Facebook 560k subscribers
Dedicated to look books and editorials but mainly as community management where sales, events and store openings are kept up to date. Run ads within Facebook that link the user to the store. Content is organized by format such as photos and videos, and platform (Instagram and Youtube). Is persistent with the same hashtags found in Instagram and their website and have a response rate of 1 day. It is like the main section of all their platform because of the varied content they display.
Youtube 1,268 subscribers 59 videos
Upload their fashion films and their newest audiovisual project DREAMSTV. Collaborate with art directors and photographers to deliver highly creative content featuring product and a story line similar to that of a film noir mystery genre. Post their videos of their collaborations with artists such as Anna Kras, Jeanne Dams, Jon Juarez. It is subject of mention that XMAS (Christmas) is a memorable time in their calendar because they always do a campaign for Christmas. Do not post only once a month and launch new content or campaigns twice a year.
Twitter 27.9k
Inactive in comparison to other social media. Post once every month about campaigns and lookbooks. Have little or no engagement with mostly only 1-20 likes.
Newsletter
Subscribe through website and online and offline purchases. Promotional notifications about sales, campaigns, events and collections.
EXTERNAL ANALYSIS
PEST ANALYSIS -Consumers are becoming wiser and more informed than ever which new power dynamics are demanding of fashion companies to lower prices, constantly innovate and aestheticize their products in order to stay relevant with their competitors. -The rising young consumers are more impatient than ever and demand immediacy with everything seeking instant gratification. The demand for frictionless experiences that suit their lifestyles is a threat for companies who do not upgrade their distribution strategies. A study by eMarketer revealed that in a sample of 1,500 US consumers, 59% of shoppers expected same or next day delivery.
SOCIOCULTURAL
-Products considered basic and minimalistic are considered sophisticated. Many consumers are going through a materialism hangover sparking in them the needs to detox their lives. “Tidying Up with Marie Kondo” ‘s Netflix sensation is the proof of this trend. Last year’s logo change of luxury houses Burberry, Balmain and Celine opting for a minimalist font and straight lines is also an effect of this. - “The Joy of Missing Out” JOMO is an emerging trend of the re-appropriation of selftime. People are growing tired of being bombarded with excessive information and being more selective in their activities. Growing numbers of people are reducing their time online, leaving social networks, and opting for analog and vintage alternatives such as flip phones. Spas and Wellness Centers are prospering as well as mindful activities such s slow cooking and growth of athleisure and loungewear. - Even though technology helps us interact with people who live far away, it has been proven that our society has never been so lonely. The number of single households is predicted to OutSpace all other numerous households. Young current generations are rejecting marriage and cohabitation, by 2030 single households will increase by 120 million meaning that there will be more disposable income to spend in travel and leisure activities that bring them personal joy.
Using technology to create new alternative of fabrics. As sustainably sourced materials become more and more in demand, fashion brands have found a way to create green fabrics and functionally focused fabrics thanks to advanced machinery and raw matter refinement. Retailers are investing in technology that offers a more personalized experience to customers in order drive loyalty and engagement. Retailers are going mobile to satisfy customer needs of shopping at any time and place through mobile apps and payment options as part of their Omni channel strategies. Such as in Chinese social media WeChat customers can enter a high-technology convenience stores and no sales people or checkout is required only a scan QR code through the app.
TECHNOLOGICAL
AI converts large and diverse data sets into enriched information that help improve speed, cost and flexibility throughout the value chain. -Virtual reality marketing experiences will be more influential to consumer purchases and specially more successful for brands who sell dreams. This is opening a gate to v-commerce where virtual life experiences will be accessible to the masses enhancing buying from home to a whole other level of touch and feel.
LOUNGEWEAR AND HOMEWEAR RETAIL MARKET Loungewear, often referred to as Home wear, is comfortable clothing that can be worn outside or inside of home. The demand for loungewear expands through all age groups and market because it brings comfort and style to every day situations and is associated to living a more relaxed and joyful life. In loungewear market study spanning from 2018-2026, its growth is anticipated to increase at a steady pace because versatility and comfort are attributes that current consumers of a large segment are looking for in a piece of clothing. Both male and female consumers are adopting this trend as at home activities have seen a growth in recent years be it social or time spent alone. Consumers are not inclined to spend a lot on an item of clothing limited to just one category or activity, but rather on something they can wear for many occasions which is why loungewear is an extension of the modern day casual wear offer. Fashion retailers are moving into the interior market by appealing to millennial shoppers selling a home dream come true. This strategy allows retailers to diversify and capture consumer capital by selling a one-stop to purchasing a lifestyle. Zara, Asos, Urban Outfitters, H&M and French Connection have adopted the home wear brand and used influencers to reach younger generations especially those belonging to Generation Rent who are likely to refresh their interior surroundings much more often. According to Gordon Smith it’s about creating a rounded lifestyle offering rather than just a fashion centric focus.
The global loungewear market is segmented into materials (cotton, wool and silk), application (men, women and kids), distribution channels (supermarkets, specialty stores, mono brand outlets, online retailers, and others), and region (North America, Europe, Asia Pacific, Middle East & Africa, and South America). The material with most popularity is cotton because of its lightness and comfort and the women segment is the one with most inclined growth because of the adoption of the market of stylish designs and comfortability as well. North America is the dominant global market of loungewear followed by Europe because of the casual lifestyle culture, however, China is also expected to show growth in the loungewear sector because of the rise of luxury brands adopting this trend. The key players are manufacturers such as AEO Management Co., H&M, Hanesbrands, L Brand, PVH and Ralph Lauren. R&D capabilities are being invested in order to range the functions of the designs, cozy color, patterns and product quality. Fashion consciousness and sustainable trends have contributed to the loungewear market to escalate higher in the fashion segment hierarchy. According to a senior analyst at Technavio for research on apparel and textile, “Currently, the demand for visually-appealing sleep and loungewear is driving the market. Most people, especially women, are particular about their outfits. Although sleepwear and loungewear are worn inside the house, the preference for visually-appealing products with better features is high. The availability of sleepwear and loungewear products that cater to different requirements, therefore, attracts customers. During the forecast period, many vendors are expected to launch new sleepwear and loungewear in diverse colors and styles.” -(TECHNAVIO,2019)
INTERVIEW INSIGHTS
BRAND IMAGE AND PERCEPTION
PRODUCT
All interviewed where or lived in Spain so where well aware of the brand. Most people in their early 20s did not identify with the brand or did not consider it to be cool enough, considering it a mom’s brand Others considered the brand to be too futuristic for their customers here in Spain Rarely did people buy clothes in Bimba Y Lola, they turn to it for bags or small leather goods such as wallets and beauty bags. Products where considered basic. Ready to wear except coats and pants are disregarded. Others said they enjoyed the quality and style of their clothes No coherence between bags and clothes given that clothes are more experimental and modern and bags are traditional and rarely change their models. All interviewed agreed that the price was reasonable and accessible for the aesthetics and quality of the products.
PRICE
PLACEMENT
PROMOTION
Stores are not impressive but are well organized. Staff members are not very helpful and are not well informed with company information and values. Physical shops lack the wow factor seen in digital advertisement and online shop. Small accessories should be better organized in the store. Stores lack flow and it is very hard to see everything at a glance. Some sections are very divided by walls or corners. Most customers don’t follow the brand on their social media. Instagram feed is followed not because of the brand but for the good visual aesthetic. Consider videos and films to be interesting and fun Enjoy and appreciate the sales done so often, claiming it is the only time they do purchase in Bimba Y Lola
CURRENT COMPETITORS
A Spanish brand founded in 2008 by Inditex’s Amancio Ortega and Rosalia Mera is committed to make accessories a basic part of a women’s wardrobe. Meaning “Both”, “One and the other” its products are produced as limited series with an exclusivity attribute but at an affordable price. Committed to redefining their client’s concept of exclusivity, like all other Inditex brands, they aim to offer the latest trends to obtain a unique selling point of offering exclusive garments that enhance formal silhouettes, but where accessories are the key star performers. They are present in both national and international markets with over 85 stores in 16 countries and a press office in Madrid. Its stores have a unique atmosphere complemented by their furnishings, lighting, and impeccable merchandise display. In their DNA is elegance, sophistication, cosmopolitan lifestyle, and minimalist brand id. Their prices including accessories and women wear range from 20 to 250 euros. They target women 20-50 who are sophisticated, elegant and trendy.
Is a French contemporary retailer founded by Thierry Gillier in 1997 that embodies luxury French street ware by providing original designs at affordable prices. They have a bridge positioning and their core business is apparel offered to men, women and kids. Their bags category is very successful and have important protagonist in their stores and promotion. Their prices range from 70 euros to 500 euros and sell in their own boutiques, department stores, multibrand stores and ship worldwide. They are considered a young brand given that their target does not normally surpass 34 years of age and their style is a combination of rock and roll+ Parisian codes.
MAJE Is a French fashion retailer founded by Judith Milgrom in 1998 that focuses in women in the early 20s to their late 30s. Their core business is apparel focusing in feminine silhouettes both female and bold. They are Sandro’s most direct competitor with similar competitive strategies and price point. Just as Bimba Y Lola, apart from their declared target, loyal customers include young brand conscious Asian consumers and middle-aged women with high disposable income who have come across exposure of the brand in their travels. If Bimba Y Lola is considered a colorful and lively Sandro, Maje is often referred to the young flirty sister of Sandro.
LONGCHAMP A family owned leather goods and handbag company originated in France. Its key success factor is its product more specifically the Le Pliage. This popular model has enabled Longchamp to generate steady sales in its 8o markets and has become an icon of the brand because of its accessibility in price compared to other high end and more luxurious bags from the brand. Quality is the main pillar of the brand and its enhanced classic designs make it an ageless targeted product. Their lowest priced bags are around 70 euros while their highest is 2,000 euros. They have a good mix of classic models for mature audiences and recent more modern models endorsed by Kendall Jenner which aim to attract the high incomed young consumer. They have expanded their distribution and are available in almost every online and offline multiband and department retailer. They are currently in a midpoint where they cannot move upmarket for threat of recession neither mass market because of the elevated and slow changing designs.
Founded in 1981 by Purificacion Gracia in Barcelona. They focus on selling apparel for men and women. For women’s, they are specialized in bags and small leather goods which are their star performers. They are part of the STL group and distribute to department stores such as El Corte Ingles and have their own boutiques. It is mostly known in Spain and has not expanded internationally as its competitors which is why they do not have high brand awareness. They have affordable prices not surpassing 300 euros but their products lack originality in both design and brand image. It is mostly targeted to low brand cultured Spanish women from 30 to 60, however within this market segment some of their consumers (30-45) buy in Bimba Y Lola and those who are seeking for a modern and trend upgrade are likely to transition to buying in Bimba Y Lola.
A Spanish fast fashion retailer focused in apparel and adapting trendy sophisticated looks and selling them at low prices. Mango has products for kids, women, babies and men. Originated in Barcelona, and now has international presence Mango has a strong distribution channel and has integrated technology to optimize logistic and capture data as an initial step of their design process. Mango has adopted a mid-premium pricing policy for customers who are willing to pay a higher price for their better-quality lines. Compared to their other direct competitors such as Zara they focus on more elegant and sophisticated style similar to those sold in Bimba Y Lola but with less extravagant prints and communication. Their customers belong to urban cities and are well aware of new trends and find their prices low compared to the aesthetic and trends Mango delivers. In order to raise brand awareness, they use print, electronic, digital and social media platforms and target age segments from 20-55.
FUTURE COMPETITORS
LOVESTORIES INTIMATES
FLEUR DU MAL
LOVE STORIES INTIMATES IS A DUTCH LINGERIE AND SLEEPWEAR BRAND FOUNDED BY MARLOES HOEDEMANIN 2013 BORN OUT OF THE SCARCE OPTIONS OF INTIMATE GARMENTS FOR WOMEN WHERE THE ONLY ONES KNOWN TO BE WHERE “ EITHER SPORTY SPICE OR TUTU-ROMANCE.” LOVE STORIES HAS A FASHION APPROACH TO LINGERIE WHICH IS WHY THEIR READY TO WEAR COLLECTION IS MODEST ENOUGH TO BE WORN BOTH INSIDE AND OUT OF HOME. THEY HAVE THREE MAIN COLLECTIONS : SWIMCLUB (SWIMWEAR), CIRQUE DE LA NUIT (LINGERIE) AND READY TO WEAR. THEY HAVE POINTS OF SALE IN OVER 28 COUNTRIES THROUGH THEIR WEBSTORE, OWN BOUTIQUES, AND DEPARTMENT STORES. THEIR READY TO WEAR COLLECTION WHICH INCLUDE SLIP DRESSES, ROBES AND COVER UP RANGE FROM 50-200 EUROS PER ITEM.
FOUNDED IN 2012 BY JENNIFER ZUCCARIN FLEUR DU MAL IS A LINGERIE BRAND WITH A FASHION APPROACH. AS A RESULT, THE BRAND HAS FURTHER EXPANDED INTO READY TO WEAR AND SWIMWEAR. DESCRIBED AS” CHIC, FEMININE AND UDERSIVE” THEIR DESIGNS ARE AN ARTFUL EXPLORATION OF DESIRE AND PROVOCATION WHILE STILL BEING WEARABLE AS SEXY OUTERWEAR AS WELL. INITIALLY JUST THROUGH E-COMMERCE THEIR MARKET EXPANSION HAS POSITONED THEM IN THE WORLD’S MOST EXCLUSIVE RETAILERS INCLUDING BARNEYS, NET-A-PORTER, SAKS AND SELFRIDGES. THEIR GOWNS RANGE FROM 295-695 USD WHILE THEIR SLEEPWEAR GOES FOR 130USD-495USD, ALTHOUGH THEIR PRICE POINT IS MUCH MORE EXPENSIVE THAN BIMBA Y LOLA POSITIONING AND TARGET ARE THE SAME AS BIMBA Y LOLA IN INTERNATIONAL MARKETS.
MORGAN LANE FOUNDED BY MORGAN CURTIS IN THE UNITED STATES SHE HAS INTRODUCED A SOCIAL AND FUN APPROACH TO LINGERIE AND SLEEPWEAR FILLED WITH ILLTURATIVE PRINTS AND CONTEMPORARY TECHNIQUES SHE HAS ESTABLISHED THE BRAND AS THE ‘IT GIRL’ LINGERIE AND SWIM BRAND (FORBES, 2017). AS THE OTHER COMPETITORS ONE OF THEIR OBJECTIVES IS TO BLUR THE LINES BETWEEN SLEEPWEAR AND READY TO WEAR. GARMENTS ARE VERY FEMININE AND CUTE TARGETED TO YOUNG GIRLS FROM 19-28 OF UPPER CLASS WHO ENJOY PAMPERING THEMSELVES. THEIR COMMUNICATION AND EVENTS ARE HAVE A CAREFREE TONE AND ENJOY LUXURY GETAWAYS AS THE IMAGES AND LOOKBOOKS INCLUDE EXOTIC LOCATIONS AND THEIR SLEEPWEAR RANGE FROM 140-300 EUROS.
EBERJEY A MORE MINDFUL APPROACH TO LINGERIE AND LOUNGEWEAR, EBERJEY WAS FOUNDED IN 1996 THAT PROMOTE INCLUSIVITY, HAPPINESS, SELF-LOVE AND CONFIDENCE. OFFER PJ SETS, SLEEPWEAR, LINGERIE, LOUNGEWEAR AND SWIMWEAR THAT ARE SEXY AND COMFORTABLE BECAUSE THEY ARE MEANT FOR EVERYDAY WEAR FOR REAL WOMEN OF ALL AGES. THEIR DESIGNS ARE NOT AS LUXURIOUS OR PROVOCATIVE AS THE OTHER ONES BUT THEY TARGET THE CORE “STAY AT HOME BUNNY” WHO VALUES COMFORT AND SECURITY OVER STYLE. THESE ARE ATTRIBUTES TO KEEP IN MIND WHEN COMMUNICATING THE CAPSULE COLLECTION. THEIR DESIGNS ARE CONSERVATIVE AND CLASSIC WHICH CAPTIVATES A MATURE SEGMENT AS WELL AND THEIR PRICES ARE MUCH LOWER THAN THE OTHER COMPETITORS (-150EUROS) MAKING BIMBA Y LOLA THE MIDDLE POINT BETWEEN EBERJEY AND THE OTHER COMPETITORS,
CURRENT AND ASPIRATIONAL POSITIONING WITH FUTURE COMPETITORS CURRENTLY, WHAT BIMBA Y LOLA IS LACKING IS CONCERNS TO ITS FUTURE COMPETITORS IS THE PRODUCT OFFER IN THE INNERWEAR MARKET, EXCLUSIVITY, AND AN AESTHETIC BRAND COMMUNICATION THAT WILL ATTRACT THEIR SECONDARY AND THIRDIARY TARGET. THEREFORE, IDEALLY, BIMBA Y LOLA MUST INCORPORATE THE CAPSULE COLLECTION IN ORDER TO GENERATE BRAND AWARENESS IN THE LOUNGWEAR MARKET AND ATTRACT NEW CUSTOMERS THEY MUST REDIRECT THEIR COMMUNICATION STRATEGY AND ENGAGE MORE ON SOCIAL MEDIA AS MORGAN LANE DOES AND SELL A LIFESTYLE AESTHETIC RATHER THAN JUST A PRODUCT AND CREATIVE IMAGERY ALONE.
GENERAL SWOT STRENGTHS -UP TO TREND PRODUCT IN THE SEMI-LUXURY SEGMENT AT AN AFFORDABLE PRICE. - EXPANSION AT THE CORE OF THEIR STRATEGY HAS DOUBLE THE BRAND REVENUE IN THE PAST YEARS. - BAGS AND SMALL LEATHER GOODS ARE CONSIDERED PRACTICAL AND ELEGANT FOR AN EVERYDAY BAG WHICH IS WHY THEY THESE A LOT. -HIGH BRAND AWARENESS IN SPAIN - IT FOCALISES IN WOMEN THEREFORE TARGETING AND DESIGNING FOR A 25-40 YEAR OLD CONSUMER COVERS A HIGH PERCENTAGE OF THE MARKET SHARE SPECIALLY IN CITIES SUCH AS THOSE WHERE THE BRAND HAS THEIR POINTS OF SALE. -KNOW HOW TO INNOVATE AND RENOVATE THEIR IMAGE. -HAVE A GOOD SALES AND DISCOUNT CALENDAR, THEY KNOW HOW TO SELL OF THEIR STOCK. -DISTRIBUTE TO DIVERSE POINTS OF SALE SUCH AS ONLINE CHANNEL, OWN STORES, DEPARTMENT STORES, SHOP IN SHOPS, OUTLETS AND CELL FRANCHISES. -CROSS SELLING EMPHASISED IN STORE -VIBRANT AND CREATIVE COMMUNICATION -GOOD PRICE/QUALITY STRATEGY -CREATE VISUALLY APPEALING CONTENT
WEAKNESSES -DON’ T OFFER CUSTOMISATION -LOW ENGAGEMENT IN SOCIAL MEDIA TACTICS AND ABANDONMENT OF SOME OF THEIR PLATFORMS SUCH AS TWITTER. -NO CLEAR VALUES AND NO DECLARATION OF BRAND INFORMATION -VARIABLE IDENTITY AND VALUES. -REGARDED AS AN OLD LADIES BRAND FOR CONSUMERS IN SPAIN DURING THE EARLY YEARS OF THE BRAND. -NON CREATIVE STORE EXPERIENCE OR ATMOSPHERE. -DO NOT HAVE SHARED AND MEDIA AND RARELY ENGAGE WITH CUSTOMERS -DO NOT INVEST IN AN INFLUENCER BASE NOR PR
OPPORTUNITIES
THREATS
-ENTER THE PREMIUM LOUNGEWEAR MARKET WHICH IS POPULAR AND GROWING IN BIG CITIES. -ENGAGE MORE WITH CONSUMERS THROUGH SOCIAL MEDIA -IMPROVE CONTENT STRATEGY -CREATE REWARDS PROGRAM OR LOYALTY CARD -COLLABORATE WITH MORE ARTISTS AND DESIGNERS TO CO-DESIGN COLLECTIONS -OFFER CUSTOMISATION -INVEST IN THEIR INTERIOR DESIGN OF STORES TO MAKE IT A BETTER SHOPPING EXPERIENCE. -DEFINE THEIR IMAGE AND VISION. -FURTHER EXPAND INTO THE ASIAN MARKET WHICH PROVED TO BE ONE OF THEIR HIGHEST SOURCES OF REVENUE -DEIFNE THEIR PAST AND PRESENT COLLECTIONS IN THEIR WEBSITE -INVEST IN TECHNOLOGY IN STORE -EXPERIMENT WITH MORE MATERIALES TO DISPLAY CRAFTSMANSHIP AND LUXURY.
-COMPETITORS SUCH AS ZADIG AND MAJE HAVE A BIG LEAD IN THE LUXURY STRETWEAR MARKET. -HEAVY INVESTMENT IN EXPANSION PLAN MAY FLUNK BECAUSE OF THE COMPANY’S HIGH PRICE IN THE MARKET. -FUTURE COMPETITORS ARE SPECIALISED AND FOLLOWED IN THE INNERWEAR -MANGO OFFERS SIMILAR STYLES AND LOOKS AT QUARTER THE PRICE -NEW CUSTOMERS TO BIMBA Y LOLA SKEPTICAL ABOUT FIRST PURCHASE IN THE BRAND WITH THE PRODUCT LAUNCH -PAD CRITICS REGARDING THE COLLECTION THAT WILL INFLUENCE POTENTIAL CONSUMERS -OYSHO AND CHEAPER EUROPEAN RETAILERS OFFERING LOUNEGWEAR AND SLEEPWEAR AS WELL FOR VERY LOW ORICES.
PROPOSAL BYL LOUNGEWEAR CAPSULE COLLECTION 2020
STRATEGIC BASIS
OBJECTIVES INCREASE MARKET SHARE ENRICHING THE PRODUCT OFFER FOR THE BRAND RAISE AWARENESS ON READY TO WEAR BY BIMBA Y LOLA POSITION THE BRAND IN A NEW MARKET
POTENTIAL TARGET Primary Target
Secondary Target
Third Target
The exclusivity seeker. Age:20-35 usually students or independent professionals living in cities with a wide commercial offer. Are customers who are always on the search for new brands offering premium products at both affordable or highpriced items. They do not mind spending hundreds of euros on sleepwear or loungewear, which traditionally is not meant to be fancy or sophisticated because they care about possessing the luxury version of all their possessions. They investigate online and follow brands but prefer the physical shopping experience where they are able to taste the exclusivity as soon as they step in and see and touch the garments first hand.
The stay at home bunny. Age 20-45 is not necessarily an antisocial person but values her time at home and being comfortable when going out. She is also into the innerwear as outerwear trend because of the relaxed energy of the garments but also the intimate vibe. They highly value fit and materials which is why they need to try on the garments as they will invest large amounts of money and usually prefer to buy less clothing that have higher emotional value to them and become staples in their wardrobe.
The solid persona. 20-40 who shop in Bimba Y Lola and in their current competitors and are in need of a quality and premium look for loungewear but due to scarce offers they are forced to shop in cheaper fast fashion brands such as Oysho and intimissimi. They are not ready to spend a lot of their income in loungewear but are willing to invest in special pieces that will dress them up both inside and outside of home. They enjoy affordable luxury brands and are motivated by limited editions and capsule collections.
MARKETING STRATEGIES Competitive Strategy The launch of the capsule collection will be a key differentiation strategy since none of its other competitors focus on inner wear but only outerwear. Paired up with the vibrant prints and communication of Bimba Y Lola ,these products will also stand out as they move away from the traditional image of sleepwear. The adoption of loungewear from the brand will further emphasize the multifaceted use of loungewear.
Pricing Strategy Exclusive yet within the semi-luxury segment. Given that this is a limited-edition capsule collection using rare materials to the brand, prices will be more premium than regular tops and bottoms and more paired with the retail prices from the dresses. The justification behind the pricing tactic is the differentiation factor that its current competitors do not offer this product category and also the exclusive limited time only factor.
Growth Strategy Product Diversification Entering the loungewear and sleepwear market will allow increase sales but also attract new consumers who would normally not shop in Bimba Y Lola. Because of the brand’s internationalization and expansive oriented strategy this new product launch will increase brand awareness and compete with loungewear and sleepwear retailers at a global level.
KEY SUCCESS FACTORS I. Collaboration with influencers and artists in high publicized communication campaign exclusive to the product launch. II. Designs and trends offered by higher end designers at an affordable price III. Adoption of demanded and desired silhouettes and materials offered by aspirational competitors IV. Reaching all three potential target segments for the collection with effective communication through social media platforms. V. Successfully combine brand values with those of lingerie and homeware brands with a fresh outlook VI. Use coherent audit through all medias paid and owned and make emphasis in all markets where the product will be available
365 Lounge Capsule Collection MARKETING MIX Incorporating new fabrics and materials to the brand but popular in the loungewear market, some silhouettes similar to those seen in shirt dresses and oversized blouses will be visible in the capsule collection. The colors and patterns aused in the collection will be similiar variations to the ones in the sihlouette inspiration. The collection is inspired in the softness of the female body and the importance of its care, all garments in the collection can be styled up to for outside wear and make women feel their most sexy and confident at any given place.
PRODUCTS NIGHTGOWNS MATERIALS: SILK AND RAYON SIHLOUETTES
SLIP DRESSES WITH LACE TRIMS.
SILK CHARMEUSE PRINTED STRIPE SHIRT GOWN
PLAIN MIDI AND SHORT LENGTH BIAS CUT SLIP DRESS WITH COWL NECK.
ROBES
SILK SMOKIN JACKET ROBE SILK STRIPED SHORT KIMONO
BODYSUITS MATERIALS : TENCELL AND LYOCELL
FLOOR-LENGTH SILK ROBE DECORATED WITH FEATHER FRINGES IN TEH SLEEVES
SETS
STRIPE PRINTED SILK CHARMOUSE LONG LENGTH SET LOOSE FIT
PIJAMA TRIO MADE OF CHARMEUSE SILK AND ANTIQUE METALLIC RIBBON ACCENTS SHORT SLEEVE BOTTONED SHIRT LONG LENGHT JOGGER STYLE PANTS ELASTIC HIGH WAISTED SHORTS
Collection Structure CATEGORY
NIGHTGOWNS
ROBES
REFERENCE
MATERIALS
COLORS
SIZES
SHORT SLIP WITH LACE TRIM
41%silk, 59% rayon
S,M,L,XL
FLORAL SLIP WITH LACE TRIM
100% silk
S,M,L
STRIPE SHIRT GOWN
100% silk
S,M,L,XL
SHORT SLIP BIAS CUT COWL NECK
100% silk
S,M,L
MIDI SLIP BIAS CUT COWL NECK
100% silk
S,M,L
SHORT STRIPED SILK KIMONO
100% silk
S,L
SILK ROBE SMOKIN
100% SILK TRIM:82%RAYON 18 SILK LINING:96% POLYESTER 4% SPANDEX
S,M,L
FLOOR LENGTH SILK ROBE
60% VISCOSE 40% RAYON
S,M,L
RUFFLE STRAP BODYSUIT
90% TENCEL 10% SPANDEX
S,M,L,XL
TEE BODYSUIT
100% TENCEL LYOCELL
S,M,L,XL
BODYSUIT
1
Technical model
THE COLLECTION WILL CONSIST OF 15 ITEMS DISTRIBUTED INTO NIGHTDOWN DRESSES ALSO WEARABLE AS DRESSES , ROBES/ KIMONOS, BODYSUITS AND SETS. THERE ARE 2 SETS WHICH WILL BE PROMOTED AND SOLD ONLINE TOGETHER HOWEVER THEY ARE AVAILABLE FOR INDIVIDUAL PURCHASE IN THE PHYSICAL STORE. AS SEEN IN THE CHART, THE MAIN MATERIAL USED IS SILK FOR ALMOST ALL OF THE GARMENTS EXCEPT THE BODYSUITS WHICH WILL BE MADE OUT OF TENCEL FOR COMFORT REASONS. THE COLORS USED WILL BE BABY BLUE, OFF-WHITE, RED, BLACK, AND A FLORAL PRINT WHICH HAS PROVEN TO BE POPULAR IN ALL INTIMATE GARMENTS, BIMBA Y LOLA’S SIZING IS VERY GENERAL AND DUE TO THE LOOSE- FIT OF MOST OF THE GARMENTS LESS SIZES ARE AVAILABLE BEARING IN MIND THAT ONE SIZE FITS ALL HOWEVER IN ORDER TO BE MORE INCLUSIVE OF ALL SIZES, THERE WILL ALWAYS BE A MINIMUM OF TWO SIZING OPTIONS.
PLACEMENT THE CAPSULE COLLECTION WILL BE DISTRIBUTED TO OWN STORES INCLUDING FLAGSHIPS, ONLINE STORE, AND TO FRANCHISES IN LATIN AMERICA WHICH HAS PROVEN TO BE A DEMANDING AND POTENTIAL GROWING MARKET. THESE PRODUCTS WILL BE DISPLAYED IN THE FRONT OF THE STORE BE IT NEXT TO THE BAGS OR IN THE CENTER OF THE NEW READY TO WEAR COLLECTION. BECAUSE OF THE DELICATE NATURE OF THE SILKY GAMRMENTS, MANNUEQUINS IN THE FRONT OF THE STORE WILL BE HOLDING A FLOWING PIECE ROM THE COLLECTION WHILE ALSO WEARING ONE AS WELL. IN THEIR WEBSITE, THE COLLECTION WILL BE FEATURED IN THE FRONT PAGE AND BE AVAILABLE TO PURCHASE THROUGH INSTAGRAM SHOP NOW.
STOCK ALLOCATION AND DELIVERY CHART THE COLLECTION WILL BE DISTRIBUTED TO TEN BIMBA Y LOLA POINTS OF SALE WHICH INCLUDE 5 OWN STORES , 2 FLAGSHIP STORES, AND 3 FRANCHISES IN LATIN AMERICA. THE COLLECTION WILL NOT BE AVAILABLE IN SHOP IN SHOPS AND CORNERS BECAUSE OF THIS IS A STRATEGY EXCLUSIVE TO THE OWN STORE EXPERIENCE INTSELF IN ORDER TO RAISE AWARENESS ABOUT THE NEW BRAND EXTENSION.
THE AMOUNT OF UNITS IN STOCK IN EACH STORE WAS DETERMINED BY THE AVERAGE OF TOTAL UNITES IN THE INITAL STOCK AND ALSO BY STORE IMPORTANCE. FOR EXAMPLE, THE FULLEST STOCK MUST BE DEDICATED TO FLAGSHIPS AND OWN STORES LOCATED IN STRATEGIC CITIES. MADRID AND BARCELONA WHICH ARE KEY CITIES IN THE COUNTRY OF ORIGIN OF THE BRAND ARE PLACES WHERE THE BRAND RECEIVES TREMENDOUS EXPOSURE FROM BOTH LOCAL AND INTERNATIONAL CONSUMERS AND THEREFORE ARE IMPORTANT PLACES TO SHOWCASE THE CAPSULE COLLECTION AND RAISE AWARENESS. THE NUMBERS LOCATED IN THE HEADER OF EACH CHART NEXT TO THE TYPE OF STORE, INDICATE THE RESULT OF THE TOTAL SUM OF EACH AVERAGE STOCK UNITS PER NUMBER OF INDIVIDUAL FRANCHISE, FLAGSHIP OR OWN STORE COUNT DURING A 12 MONTH SALES PERIOD. NATURALLY, THIS TOTAL STOCK UNITS PER STORE HAD TO BE DISTRIBUTED WITH ALL THE OTHER STORE TYPE UNEVENLY ACCORDING TO HIGH SALES PERIOD SUCH AS IN DECEMBER AND SUMMER, TO LOW SHOPPING SEASONS AS IN THE BEGGINING OF THE YEAR AND MID FALL.
PRICE THE FIRST CHART IS A DETAILED MONTHLY BUDGET DESCRIPTION OF THE CAPSULE COLLECTION GOING TO EACH STORE. ALTHOUGH SLIGHT VARIATIONS DEPENDING ON THE TYPE OF STORE WHERE TAKING INTO ACCOUNT IN THE ALLOCATION DELIVERY CHART, THESE ARE THE AVERAGE UNITS STOCKED PER STORE. THE COLLECTION CONSISTS OF STAR PERFORMERS (54%), PROFIT BUILDERS (33%), AND TRAFFIC BUILDERS (13%) WHICH IS WHY MOST MARKUPS ARE OF 5.0 AND 6.0 BECAUSE HIGH MARGINS ARE EXPECTED FROM THE SALES OF THESE PRODUCTS. SIGNALED BELOW ARE THE TOTAL PRODUCTION COSTS FOR A WHOLE COLLECTION STOCK IN ONE STORE (9,147.14 EUROS) AND THE TOTAL EXPECTED SALES WITH NO REMAINING STOCKS (55,600 EUROS). THE SECOND CHART IS A YEARLY SALES FORECAST OF 1 STORE, THE TOTAL UNITS SOLD OF ONE REFERENCE IN ONE STORE FOR A WHOLE YEAR RANGE BETWEEN 3,0004,800 UNITS AND AN AVERGAE SALES TOTAL OF 6,672,000.00 EUROS.
COLLECTION BOOK
INSPIRATION THE INSPIRATION FROM THIS COLLECTION COMES FROM THE EMERGING FOCUS IN MINDFUL LIVING AND INTERIOR AESTHETICS FROM THE LUXURY INDUSTRY. THE IMPORTANCE OF SELF CARE AND TO LOOK OUR BEST FOR OURSELVES IS AN ASPIRATION THE IS SEEDING IN EVERY PEOPLE’S LIVES. WHILE AMIDST THE CHAOS OF THE CITY ONE CAN RETREIVE TO THE OUR PEACEFUL CORNER AND BE ABLE TO FEEL AS A CONFIDENT AND OURSELVES AS WHEN BEING OUTSIDE.
SHAPES THERE WERE TWO MAIN BRANCHES OF SIHLOUETTES USED FOR THE COLLECTION. ONE OF THEM IS VERY BODY HUGGING TO THE WOMENS BODY AND THROUGH THE USE OF BIAS CUTS AND 100% SILK IN MOST GARMENTS, A SENSUAL AND DELICATE SHAPE IS THE RESULTED FIT. ALSO THE BODYSUITS MADE OUT OF TENCYLL ARE MEANT TO PROVIDE A SCULPTED LOOK BUT WITH THE BREATHABLE ADN COMFORT OF A COTTON TEE SHIRT. THE OTHER ONES ARE MORE LOOSE AND COMFORTABLE BUT AGAIN, BECAUSE OF THE USE OF SILK THE PIECE LOOKS DELICATE AND IS FLEXIBLE WITH THE MOVEMENT OF THE MODEL.
MATERIALS & COLORS BASICALLY ALL GARMENTS WILL BE MADE OUT OF SILK EXCEPT THE BODYSUITS WHICH WILL BE MADE OUT OF TENCELL.
CONCLUSION IN CONCLUSION, BIMBA Y LOLA SHOULD LAUNCH THE 365 LOUNGEWEAR COLLECTION GIVEN THAT AS THEY EXPAND GEOGRAPHICALLY THEY SHOULD ALSO EXPAND THEIR OFFER AND ENTER NEW MARKET SEGMENTS IN ORDER TO UPSCALE INTO EMERGING LUXURY SEGMENTS AND ENRICH THEIR VALUE PROPOSITION. UPON SALES FORECAST AND BUDGETING COSTS, THE EARNING PROVE TO BE SIGNIFICANT DUE TO THE HIGH NETWORK OF POINTS OF SALE AND ALSO THE DEMAND IN THE MARKET FROM THESE KINDS OF PRODUCTS IN PHYSICAL STORES RATHER THAN IN JUST INSPIRATION PANELS IN PINTEREST. THE CONSUMERS ARE ASKING FOR IT AND BIMBA Y LOLA CONTINUE TO LOOK FOR WAYS TO STAY RELEVANT IN THE SEMI-LUXURY MARKET, WITH THE LAUNCH OF THIS COLLECTION IN 2020 THEY WILL BECOME THE LEAD IN BOTH THEIR CURRENT AND FUTURE COMPETITORS.
ANNEX
BIMBA Y LOLA CONSUMER INTERVIEW 1. When buying in Bimba y lola, what are the products you usually purchase? 2. Why do you purchase these shoes, coats, accessories over other fast fashion retailers such as Zara and H&M? 3. How would you describe your style? 4. What attributes or characteristics do you identify the brand with? 5. Do you consider the brand as cool? 6. To what other stores do you recurre when buying the same product categories you shop for in Bimba y Lola? 7. Do you think the store experience could be improved? 8. Do you follow them on social media? 9. What do you think is Bimba and Lola star product? 10. What loungewear stores do you follow or find to be inspiring? 11. What accounts do you follow to find inspiration or aesthetic images?
BIMBA Y LOLA COMPETITORS INTERVIEW 1. ARE YOU FAMILIAR WITH THE BRANDS MAJE, ZADIG & VOLTAIRE, UTERQUE, MANGO, LONGCHAMP? 2. IF YES, WHAT DO YOU USUALLY BUY IN THIS/ESE STORES? 3.WHICH OF THESE BRANDS DO YOU FOLLOWON SOCIALMEDIA AND CONSIDER TO BE YOUR FAVORITE FROM THE GROUP? 4. ARE YOU A BRAND OR PRODUCT/STYLE DRIVEN SHOPPER? 4. DO YOU KNOW BIMBA Y LOLA? 5. WHAT ARE YOU OPINIONS ON THE BRAND (PRODUCTS, COMMUNICATION, PRICE POINT)? 6. WHAT DO YOU THINK THESE BRANDS ARE MISSING, OR WHAT DO YOU FIND YOURSELF GOOGLING OF A PRODUCT NOT AVAILABLE IN ANY OF THESE BRANDS? 7. WHAT DO YOU THING ABOUT TRENDS SUCH AS ATHLEISURE, LOUNEGWEAR AS OUTERWEAR? 8. HOW WOULD YOU DESCRIBE YOUR STYLE? 9. ARE YOU WILLING TO SPEND IN A SET OF PJS OR A SLIP PIJAMA DRESS MORE THAN THE PRICE OYSHO OFFERS ? 10. IF BIMBA Y LOLA WERE TO SELL APPEALING LUXURIOUS SILK INNERWEAR AT A REASONABLE PRICE IN COMPARISON TO OTHER HIGHEND DESIGNERS WOULD YOUR PERCEPTION ON THE BRAND CHANGE? WOULD YOU BUY THERE?
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