covet. Morgan Taylor
rebranding strategy.
The Consumer
She is the enviable 20 something average white woman, who is settling down with the love of her life in the beautiful hills of San Francisco. She is anything but your average personality and loves adeventures, traveling, and is open to many new ideas. She is well perceived, always kind, reliable, gets the job done, and is very motivated. She is a happy go lucky person with many dreams and aspirations.
Her Aspirations
As a young girl, she always aspired to be a young designer and stylist, determined to be inspired by the world around her and in turn, inspire those around her. She dreamed of having a family one-day, but wanted to travel the world first and experience as much as she possibly could outside the sheltered world of a small town in Michigan. Leaving the life she always knew behind, as well as the people in it, (other than her family of course – which happens to be the most important thing to her) she left for college as soon as she turned 18. After going to college in NYC and experiencing an entirely different outlook on the world, she gained perspective into herself as a designer as well as what she wanted to do with her life. She worked incredibly hard and saved her money, climbed her way to the top, eventually leading her to the hills of San Francisco and working as the director of design at a fashion company. She is happily settled down and of the upper class, making upwards of 6 figures annually. Her soon to be husband is a financial advisor and also makes a good amount of money, allowing them to live the lifestyle they had always wanted. When they met in college, they never imagined that they would be this successful at such a young age. While she held her career to be the most important thing to her, she values her family much more and makes sure she spends a lot of time with her fiancÊ. Fortunately, they were also able to build a lake house hidden deep in the woods near her hometown in Michigan, where they are able to escape to from time and again, and visit her beloved family. She has met amazing people throughout her journey and keeps a tight knit group of friends where she lives now in San Francisco. While it seems like she may have a picture perfect life, she wants to continue to grow and aspires to many more things, especially starting a family.
Her Style
As she gets older, she aspires to branch away from mainstream mass produced fashion and wants to open her own boutique. However, she feels as though she should have a bit more time to save money and start to build her family in order to be stable in this business decision. Her style is always simple and clean, with many layers and a touch of sparkle here and there. She enjoys neutral colors, but is never shy of adding some brights in there every now and then. At this time in her life, she loves trying new silhouettes and pieces that bring out a little sexiness. She enjoys shopping at places like Nordstrom and Saks Fifth Avenue, to get those high end pieces that she is able to afford, but isn’t afraid of going to JCrew, GAP, H&M, and Forever 21 to get those basics or even trendy pieces she envies. She values staple pieces and is never afraid to go back to them (like throwing on a t-shirt and jeans 2 days in a row with a different blazer), but splurges on a few statement pieces for each season, such as bags and shoes just to add a little pop for every season. For her, living a well and happy life is more than important to her, so even though she may be able to afford very pricey items, she always feels like splurging all the time isn’t the healthiest for her family…but she always loves a new pair of shoes!
shoeWoo. The Brand
shoeWoo was a boutique that sold moderate to upper priced brands of shoes. They carried brands such as
Nine West, Bandolino, Rachel Roy, Anne Klein, Joan & David, and Enzo Angiolini. They carried these brand’s latest collections and sold them at marked up prices. The company sold few accessories as well as the collections of shoes, but mostly focused on footwear. They sold everything from tennis shoes, to rainboots, flats, heels, and boots. However, they struggled to focus on one specific consumer and focused on a variety of women with what seemed like an unknown age range. They carried appropriate business attire shoes, as well as fun and playful heels for a night out. While having a variety of shoes is good, they really struggled with zoning in on who their target market was, and supplying products that fit the consumer.
Rebranding
shoeWoo is rebranding because they have closed all but one of their locations, as well as their online store.
This means that they have also closed their warehouses, most customer service lines, and their main offices. Owned by Jones Apparel Company, this existing brand will be bought out by a separate owner and revamped to an upscale boutique filled with exclusive designer shoe and accessory collections. This new brand will be called Covet. and will carry designer collections such as Balenciaga, Michael Kors, Diane Von Furstenberg, Reed Krakoff, Tom Ford, Louis Vuitton, Dolce & Gabanna, and many more. The idea is to carry high end shoes for the woman that is looking to splurge on her shoes and accessories each season. This new brand will target the wealthy professional woman that is young, always on the move, and looking to stand out in a crowd.
covet. The Logo
Covet. stands for everything a woman desires and craves to have in her closet. Covet. has a simple logo
consisting of its minimal name and a period, emphasizing its power and solidity. This brand strives to make the consumer feel confident, empowered, and above all, unique + fashionable. Covet. embodies all things high-end + upscale and is exclusive to those who covet only the best quality shoes + accessories.
The Brand
Covet. is a company focused on the consumer and strives to please her wants, needs, + desires. Covet. offers
high-end designer shoe + accessory collections for the woman looking to spice up her wardrobe each season. Focusing on the small details of a woman’s outfit, Covet. aims to make each and every customer feel unique and special by providing her with trendy shoes + accessories of exceptional style and quality.
While offering designer collections such as Balenciaga, Michael Kors, Diane Von Furstenberg, Reed Krakoff,
Tom Ford, Louis Vuitton, + Dolce & Gabbana, Covet. will also carry their own collection of shoes + accessories aimed at a slightly lower price point. This collection will have trendy shoes + accessories targeted at the woman that does not want to make the full commitment that comes with the designer shoe collections, but still wants that unique + trendy look, as well as good quality.
Both the designer collections and Covet.’s collection will be sold in stores, as well as online. The online
component of Covet. will generate the most profit because it will offer a wider range of designer collections, as well as exclusive collections and sizes of shoes that cannot be found in stores. This online store will also have more promotions and offers than the actual stores and will generate customers from all over the world.
rebranding strategy. Brand Assets
Covet.’s logo is simple, clean, streamlined, and minimal. The period emphasizes its power, confidence, and
solidity. It is easily identifiable and says everything in one small statement.
Brand Equity
Covet. is unique because of its ability to provide high-end designer shoe + accessory collections, as well as its
own, all in one store, as well as online. Covet. has the power to gain credibility through the designer collections it carries, as well as through the quality + style it will provide in its own collection.
The Target Consumer
The target consumer of Covet. is a woman, age 25 - 35, who is a young + wealthy professional that likes to
splurge on details of her outfit each season. She does not like committing to designer clothing each season, but prefers to spice up her usual neutral + layered outfits with designer shoes + accessories that describe her personality + love of fashion all at the same time. She likes investing in a product that is trendy, of exceptional quality, and adds pops of color to her wardrobe each season. She appreciates great design + great quality, so she is not afraid of splurging on those items that provide just that.
rebranding strategy. The Vibe
Because Covet. is all about showcasing the wonderful shoe + accessory collections, the vibe is very inspiring
+ laid back. Covet. aims to inspire women’s outfit choices and help them pick out pieces that will go with multiple looks. The vibe is helpful, encouraging, and always insightful. Associates are all well versed in the fashion world, and enjoy helping each customer with their important purchases.
The Environment
The in-store environment will be very clean, elegant, inspiring, and minimal. It will have a good layout that
flows well, natural colors + textures with the design aesthetic, and a little touch of sparkle. Black + white will be the dominating colors, mixed with natural fibers and touches of metallic here and there. The main focus is on the products, so the environment will not distract from the shoes + accessories, but is rather a gorgeous backdrop to showcase the items.
Bags, Tags, + All Things In Between
Because of Covet.’s elegant, clean, + minimal aesthetic, bags, tags, ribbons, + all other packaging details will
exemplify all of those qualities as well. Everything will be done in black + white, and will feature Covet.’s logo in silver or gold metallic text on all packaging. Bags will be large horizontal black + white stripes with the logo on the front, and all gift boxes will have the same appeal and aesthetic. Whether the product is purchased in store or online, each pair of shoes or accessory will be accompanied by a proper care taking guide and/or a protectant spray or protectant packaging to store it in when its not being used.
covet.
consumer research. Type of Research The research I will be conducting is a qualitative survey in the form of a focus group.
Research Stage & Stimulus The research stage I am in is, testing a product and the product is a new shoe collection that has been added to an existing brand.
What I Want to Learn I would like to get to know a bit about what my consumer likes and doesn’t like in the collection. It was recently launched and has been on the floor for a few months and sales have been good, but I would like them to be better.
What I Want to Find By having a focus group, I hope to find out how they like the fit, the colors, the styles, what demographics they believe it is aimed toward (versus the actual target market), what our brand competes with, why they would buy this collection over another in our brand, and an overall idea of the product. I want to be able to see how my ideal consumer sees the products and how I can make it better for them.
Sample Size My focus group will be a fairly large sample size. I plan on this being an ongoing project, to get continuous information throughout new launches. However, for this first session, I would like to have 4 groups with about 15 – 20 people each; depending on their availability.
Discussion Questions I want to lead my focus group with these following discussion questions, but from there, expand and ask follow up questions based on their answers to these. • Do you think that this collection is aimed toward your age group (20-28)? If not, what target market do you think it is and why? • Do you like the overall color palette and general style of this collection? Is it cohesive, and is it appealing to your personal style? • What makes this collection different from the rest of the brand? Would you spend the money on shoes from this collection versus something that already exists? • Who do you think competes with this collection? Does this collection compete with the brand? How about other brands? • Have you ever tried on this collection? What do you think of the fit, the comfort level, and how it looks on you? • Do you think this collection is something you would splurge on? Do you think this collection is trendy enough to compete with designer collections? • Where would you wear this collection of shoes? (Work, going out, casual for the weekends, etc.) • How does this collection make you feel? (Confident, empowered, none of the above, etc.)
buying package.
merchandising strategies. Stage of Fashion Cycle
Covet. is in the Introductory Phase of the fashion cycle because of their re-introduction into the fashion industry. They are a whole new brand previously known as something else, but because there is a complete rebranding of shoeWoo into Covet., it is in this phase.
Level of Quality
Covet. carries both top quality deisgner shoe + accessory collections, but they also carry their own collection that is of intermediate quality, in order to maintain the lower price point that some consumers are looking for.
Price Range
The designer shoe + accessory collections can range anywhere from around $250 to $8000 because of the more expensive handbags they will be carrying. The Covet. Collection will be at a lower price point ranging from $75 to $500.
Depth + Breadth of Merchandise
Covet. will carry designer’s collections for each season, which depending on the designer’s design aesthetic, will include flats, heels, + boots in sizes 6 - 10 including half sizes (depending on availability). If there are sizes smaller or larger than those, they will be sold exclusively online to conserve shelf space in the stores. These styles and sizes will also apply to Covet.’s collection of shoes. As far as accessories are concerned, buyers from Covet. will pick and choose what they believe is most relevant for our customer. Mostly small bags and jewelry will be carried, but popular and exclusive larger handbags + luggage collections will be sold periodically.
Brand Policies
Covet.’s competition lies mostly in department stores such as Nordstrom, Saks Fifth Avenue, Bergdorf Goodman, Barney’s New York, and Bloomingdale’s, as well as the designer’s actual stores. There is also some competition with online stores such as Polyvore, ShopBop, HauteLook, and Piperlime, however it is rare to find all of these designer collections all in one physical place, as well as Covet.’s collection. Covet.’s personal collection will also compete with Aldo, DSW, ShoeMint, JustFabulous, ShoeDazzle, and the like. However, few places carry high end designer shoes + accessories as well as an assortment of their own collection.
Exclusivity
This will be one of the only places to find designer collections, as well as Covet.’s lower price point collection all in one place. Once Covet.’s brand equity increases, exclusive designer collections will only be sold at Covet. through their online stores. There will also be the opportunity of collaborations between Covet.’s collection and designers to create exclusive collections created specifically for our consumer.
merchandising strategies. Stores Covet. will start by opening 5 stores nationwide in major cities including New York City, Chicago, Los Angeles, Miami, + Columbus, Ohio. Our company wants to get a really good read on consumer behaviors in different regions throughout the United States, and use these as test markets before we roll out more stores nationwide. The primary store will be online. This online store will have a wider selection of designers, more shoes + accessories, and will also have more exclusives from the Covet. collection. The reason for the physical stores is to support the customer that needs to physically try on shoes, feel the way they fit, and touch the actual product.
Inventory Each Covet. boutique will carry 20 pairs of shoes of each style in the store and keep most of the inventory in the warehouse. This is because of liability reasons, as well as to support the majority of our customers that will be online. Covet. also offers free shipping when ordered through the store, so most of the inventory will be kept there in order to cater to the consumer’s overall needs. There will be 50 - 75 additional pairs that are normally sold in stores kept in the warehouses, as well as 75 - 150 pairs kept there for the products sold exclusively online. Limited quantities of the accessories will be kept in store and more quantities will be kept in the warehouse as well.
Regional Changes Because Covet. has stores all over the nation, there will be quite a few regional changes. However, the idea is to provide trendy, designer shoes to our customer, despite region, so while some places may carry more of one style because it sells better, that does not mean it isn’t available to those in other regions. More stock of brighter colors + sandal styles will be sold in warmer places, whereas darker colors + boots will have more stock in places that experience all 4 seasons.
trends. Spring/Summer 2014
ACIDIC EXOTICS
SUBLIME SYMMETRY
AQUATIC WONDERS
LIQUIDITY
NOSTALGIA
Taking saturated colors + pairing them with tropical shapes to create a modern + urban take on your typical summer look.
Clean + interesting symmetry takes center stage in soft, neutral, + textured colors for a new take on urban minimalism.
Highlighting the gorgeous blue shades that dominate the sea + pairing them with encrusted details inspired by sea creatures.
The metallic trend keeps its integrity, but gets updated with extremely luscious + liquid like metals that seem to melt right off.
Whether it be the 50’s, 60’s, or 70’s, fashion turns to vintage looks for the wholesome + authentic All-American look that women envy.
lookbook.
accessories
shoes
ACIDIC EXOTICS
SUBLIME SYMMETRY
AQUATIC WONDERS
LIQUIDITY
NOSTALGIA
marketing + advertising.
communication. Word of Mouth Using Word of Mouth communication will allow potential consumers to generate more ‘buzz’ about this new brand, Covet. Because there will only be 5 stores opening nationwide, there needs to be positive reinforcement behind the brand’s new identity and what it stands for. This will be done through our social media team, that will create Covet. to be something worth talking about. The idea is that our social media team will post to their personal blogs on behalf of Covet., promoting the grand openings and launch of the new online store, and create ‘buzz’ in the online world of blogging.
It’s a Blogger’s World We will have our own blog promoting designer shoes + accessories, as well as our own collection. Covet. will also have partnerships with several popular blogs including, 5 Inch & Up, Atlantic Pacific, Tuula Vintage, Angelica Blick, Man Repeller, Who What Wear, and many more that will agree to post about the new brand + increase our brand equity. In return for their posts, bloggers will receive some goodies including two pairs of shoes from the new Covet. collection + some new trendy accessories as well. This will generate positive marketing for the new brand not only in the U.S. stores, but also online, and will attract international consumers as well.
Internet Advertisements Covet. plans on advertising on some of its competitor’s internet pages, to get our foot in the door and accumulate more consumers. There will be small advertisements on websites such as Piperlime, ShopBop, Polyvore, HauteLook, + department store websites as well. Covet. needs to make a statement and really enter the fashion world with a lot of power and motivation in order to keep the brand moving forward.
communication. Email Subscriptions Covet. will send out weekly email subscriptions that allow people to sign up for, and receive information about new shoes + accessories, exclusive collections, and current/upcoming promotions. We do not want our customers to become overwhelmed with the amount of emails or the content in them, so we would like to keep them short, sweet, to the point, and laid back in feeling and writing style.
Online Store Covet. will make sure its website is well laid out, clean + easy to navigate, as well as enticing and appealing. It is necessary to ensure the online store page is well laid out because this is how the brand will receive most of its revenue + generate the most customers.
Promotions To generate more attention and more customers, there will be initial offers both in-store and online such as, Free Shipping and $40 off the first purchase online. The store grand openings will have a special that will consist of a gift-with-purchase (small Covet. wallet) as well.
Marketing Elements The Covet. logo will appear throughout all promotional advertising + marketing because we want the brand to become easily + widely recognizable by our consumer. The simple clean lines of the logo, the meaning behind it, and the simple aesthetic implemented throughout all advertising, increases our brand equity as well as brand loyalty from our target consumer.
communication. promotional material
example of style of email subscription
Through advertisements + marketing
what do you covet? $40 off your frist purchase this weekend only!
example of goodie bag exclusives for bloggers
communication.
internet advertisement
online store + webpage
Through advertisements + marketing
what do you covet?
thank you. Sources pinterest.com tumblr.com blogspot.com stylesight.com wgsn.com style.com