FASM 245 // Winter '16 Andrea Di Lello, Amira Hatlani, Stephanie Tian, Morgan Zaslavsky, Ines Alvarez
opening ceremony
Founded by California natives Carol Lim and Humberto Leon in New York's SoHo in 2002, Opening Ceremony was conceived as a shopping version of the Olympics, featuring emerging designers from a different country each year. The plan was to bring the magic of travel and discovery to customers at home.
founders Carol Lim, an American with Korean heritage, met American student Humberto Leon in their sophomore year the University of California, Berkeley. In 2002 they opened Opening Ceremony in downtown New York and more recently in 2011 they became creative directors of the French fashion house Kenzo.
brand identity Want to be perceived to customers as a forward thinking and futuristic brand that is constantly changing and expanding by bringing in exciting new designers and brands to their company
core mission to keep customers intrigued with new and upcoming designers in order to create a unique retail experience.
LOCATIONS
SOHO
los angeles
customer profiles
yung art kid 20-28 YO $50,000/YR BIG CITY IN THE FASHION INDUSTRY STUDENT/INTERN /RETAIL INTERESTED IN MODERN & CONTEMPORARY ART
SOCIAL MEDIA NEW MUSIC ARTISTS HIGHSNOBIETY HYPEBEAST
STYLE STATEMENT PIECES GOOD FINDS HYPE ITEMS BRANDBRANDBRAND COMFORT STANDOUT STREETWEAR GRAPHIC
olivia
21 Y/O STUDENT/ASPIRING MODEL BROOKLYN, NY SOCIAL MEDIA STAR MEME QUEEN FEMINIST OUTSPOKEN PETRA COLLINS FAN TRAVI$ SCOTT/SKY FERREIRA VINTAGE/THRIFT AMERICAN APPAREL URBAN OUTFITTERS ATHLEISURE
26 Y/O SALES ASSOCIATE/ASPIRING MODEL QUEENS, NY BI-RACIAL FKA TWIGS/BLOOD ORANGE ANIME VINTAGE/THRIFT SUPREME HUF URBAN OUTFITTERS KENZO HIGHSNOBIETY
avery
LOCAL ARTISAN 29-35 YO $120,000/YR MEDIUM - BIG CITY YOUNG MENTALITY ART & DESIGN INDUSTRY INTERESTED IN MODERN CONTEMPORARY ART FOOD LOCALLY CRAFTED GOODS TRAVEL
STYLE UP TO DATE GOOD FINDS COMFORT STANDOUT CONSISTENT DEVOTED TO A BRAND QUALITY
iri
32 Y/O ART DIRECTOR/PRODUCTION DESIGNER $200,000/YR SCANDINAVIAN ROOTS LOS ANGELES // STOCKHOLM SINGLE PARTICULAR AESTHETIC VEGAN AESOP ENTHUSIAST COS MAISON MARTIN MARGIELA ISSEY MIYAKE
tyler
35 Y/O FURNITURE DESIGNER $180,000/YR SEATTLE, WA DRINKS AMERICANOS LOVES A GOOD CASHMERE SCARF THE NATIONAL BANG & OLUFSEN HEADPHONES BIANNUAL MAGAZINES WALT WHITMAN DESIGNER BASICS COMME DES GARCONS ALLSAINTS ACNE JEANS
SWOT ANALYSIS
STRENGTHS Omnichannel Retailer Brick & Mortar Stores Product Variety Department Variety Customer Base Price Range Collaborations Trend Awareness Hot and New Designers Understanding the Customer
weaknesses Small Number of Brick & Mortar Stores in Selective Locations Lack of Traditional Advertising Social Media Interaction and Presence Poor Online Customer Service
opportunities Expand the Number of Brick and Mortar Stores
Activewear Collaboration Outdoor Voices
Technical Innovation Back to the Roots More Shop-in-Shops Snapchat Older Millennial Customer
threats Volatility of Fashion Trends Fast Fashion Retailers Cheaper Knockoffs Online Retailers Real Innovation Trend Management
trends
LIFESTYLE
ART & DESIGN
womenswear
ATHLeiSURE
PUFFer JACKETS
LAIDBACK LUXE
rebel youth
p.e. nation
outdoor voices
marques 'Almeida
unif
eachxother
6 MONTH BUYING PLAN
corporate buying plan
FASM 245 Retail Buying Simulation 6 Month Buying Plan Fall 2017
Opening Ceremony Focus Product Category: Women's Apparel
15
32
20
0
3
IMU % = Profit + Expenses + Reductions - Cash Discounts + Alt. Costs
Fall 2017
Net Sales + Reductions
Plan Net Sales, Fall 2017
3240.0
Est. Net Sales, Fall 2016
3000.0
Plan % Last Year:
8.00%
Average Stock, Retail:
1222.2
Inventory Turnover:
2.65
Planned Reductions, $:
648.0
Reductions % Sales:
20%
Plan IMU %:
58%
100 58%
120
Fall 2017 6 Month Buying Plan
(000's)
70
August
September
October
November
December
January
Fall 2017
Net Sales
453.6
583.2
518.4
583.2
712.8
388.8
3240.0
% Fall
14%
18%
16%
18%
22%
12%
100%
Plan BOM Stock
1179.4
1341.4
1296.0
1341.4
1425.6
972.0
1222.2
Stock / Sales Ratio
2.6
2.3
2.5
2.3
2
2.5
Plan EOM Stock
1341.4
1296.0
1341.4
1425.6
972.0
1000.0
Plan Reductions
51.8
97.2
97.2
142.6
162.0
97.2
648.0
% Fall
8%
15%
15%
22%
25%
15%
100%
Purchases, Retail
667.4
635.0
661.0
810.0
421.2
514.0
3708.6
Purchases, Cost
278.1
264.6
275.4
337.5
175.5
214.2
1545.3
2.65
20
soho, NYC buying plan
Los angeles buying plan
assortment Plans
FASM 245 Retail Buying Simulation Assortment Plans Fall 2015
Focus Product Category: Women’s Apparel Planned Purchases, Retail:
3708600.0 Products
Existing Vendors
70%
New Vendors
30%
%
$
Classification
Total
Purchases
outerwear
30%
$1,112,580
tops
25%
$927,150
bottom
15%
$556,290
skirts
5%
$185,430
dresses
20%
$741,720
jumpsuits
5%
$185,430
100% %
$
Existing Vendor
Total
Purchases
Raf Simons
9%
Eckhaus Latta
$3,708,600.00
%
$
New Vendor
Total
Purchases
$233,641.80
Outdoor Voices
3%
$33,377.40
9%
$233,641.80
PE Nation
3%
$33,377.40
OC Collection
19%
$493,243.80
Marques Almeida
10%
$111,258.00
OC Collaborations
19%
$493,243.80
Unif
9%
$100,132.20
Gosha Rubchinskiy
14%
$363,442.80
EachXOther
5%
$55,629.00
30%
$1,112,580.00
70%
$2,596,020.00
We believe our buying plan for Opening Ceremony is a plan with opportunity, and there is potential to over-achieve the sales plan. Currently, there's no reason why the brand would regress in the marketplace. Opening Ceremony has always been successful at what they've done, and they're constantly on top of current trends. Their aesthetic and style appeals to a large market and they're currently in great locations that serve that marketplace. Also, considering how the company recently had a private equity firm invest in them, Opening Ceremony is a place where they able to expand their retail fronts.
thank you