Ted Baker Pop-up Store

THE MENSWEAR POP-UP SHOP

CELINE AQUINO / OUDELIN CHEN / JO GU / KELEKA MOBLEY FASM410 RETAIL MANAGEMENT / PROF. ALESSANDRO CANNATA

TA B L E O F C O N T E N T S

EXECUTIVE SUMMARY 4

COMPANY SUMMARY 6

MARKET ANALYSIS

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TARGET CONSUMER 13

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STORE LOCATION, DESIGN, PRODUCT

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COMMUNICATION & PROMO PLAN

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FINANCIAL PLAN

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EXECUTIVE SUMMARY

This book aims to clarify the strategies in detail on how Ted Baker should build up its brand awareness, increase consumer loyalty and retention, and intensify our geographical presence in the Middle East. We plan to do this by opening a pop-up store closely tied with the biggest event held in Dubai.

We, as the brand, believe that the Dubai World Cup at the Meydan Hotel would receive the most attention and high traffic due to the researched data we have collected from the previous year, along with our step-by-step promotional plan. Furthermore, we have provided our estimated revenue from the pop-up shop, cost and balance sheet to further give a well-considered strategy plan to whom it may concern.

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C O M PA N Y S U M M A R Y

MISSION HISTORY Ted Baker opened its first store in 1988 located in Glasgow, Scotland. The company’s founder, Raymond Kelvin, has been the chief executive since the beginning of Ted Baker. It is said the Kelvin originally thought of the idea while fishing; he is considered as the closest man to Ted.

We want to geographically intensify Ted Baker’s brand presence in the Middle Eastern region as well as intensifiy the product offering to promote non-licensed products and ready-to-wear. We hope to build and maintain customer loyalty with the increasing number of expatriates within the country.

S T R AT E G Y STRUCTURE Ted Baker is a publically traded company, overlooked by a board of executives. With the original founder standing as the company’s chief executive.

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First we need to determine the best area/city in the UAE to open pop-up shop. Then we will then determine what event is best for where the pop-up shop can receive the most attention with high traffic of tourists, expats and locals.

Then we shall decide on the infrastructure and design for the physical retail space. We then will promote the opening on social media-- mainly using Facebook, Instagram and Twitter.

We plan to use existing distribution channels and licensing agreement within the country to stock the shop. We hope this will increase consumer loyalty, retention and intensify our geographical presence.

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B R A N D I D E N T I T Y M AT R I X

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PHYSICAL

PERSONALITY

Quintessential luxury British clothing and accessories for men and women.

Global, Quirky, Contemporary

RELATIONSHIP

CULTURE

“Playing it fair,” distinctive style

British, Global, Travel

REFLECTION

SELF-IMAGE

“Out of the ordinary, luxury product, attention to detail”

Style-conscious, “mixing business with pleasure”

POSITION IN MARKET

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M A R K E T A N A LY S I S

UAE PESTLE

POLITICAL UAE maintains political stability despite the political unrest in the surrounding region. The country ranked high in the 75 percentile on political stability, highest among its neighbors.

ECONOMICAL Both Dubai and Abu Dhabi are investing in high profile leisure and retail projects to support the future growth of this sector.

SOCIAL UAE has a low unemployment rate and many skilled workers.

UAE is the main tourism destination in its region.

TECHNOLOGICAL The growth of e-commerce has been slow in adoption in comparison to other developed retail markets. This is due to the preference of the UAE customer to shop and experience in store.

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LEGAL Ted Baker as already established licensing partners in the UAE. The country’s simple tax structure make doing business in UAE easier.

E N V I R O N M E N TA L UAE has the environmental risk of sand storms and high heat levels.

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TA R G E T C O N S U M E R S

DIRECT COMPETITION

LOCAL A D I B I TA R - 3 3

As far as competition goes, LVMH dominates the luxury market in UAE. Following suit is Dolce & Gabbana due to their strong brand awareness and history in the country. Other Western influenced brands such as Ralph Lauren, Hugo Boss, and Burberry have a strong presence. Fashion brands in the country are mainly mid-priced. With Ted Baker being accessible luxury, their consumers shop at both the luxury price as well as midprice. The Azadea Group dominates the fast fashion market with their brands Zara, Mango, and Bershka.

INDIRECT COMPETITION Due to tourism and residents traveling, the beauty industry has had a significant increase in sales, usually as gifts to bring for family and friends. Cosmetic companies, L’Oreal and Estee Lauder rank high on the list in UAE.

D I F F E R E N T I A L A D VA N TA G E Ted Baker is the quintessiential luxury brand that is an accessible price for the mass market in UAE. They already have licensing agreements as well as existing locations within the country.

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Economic Status: High Middle class Income Level: AED 327, 474 per year Household Composition: Married with two kids Homeownership: Owner of a large house, living with family Education: Richmond, The American International University in London Occupation: Regional Business Development Manager - Lubricants at ENOC Residence: Dubai Lifestyle: Busy on his work, but still would spent time with family. He interested all news and games related to tennis, a super fan of tennis.

Hobbies: Social, traveling with family, tennis Consumer Habits: Shopping twice a week at the Dubai mall with his wife, usually shopping at designer brands with good quality and brand reputation.

Technological Usage: Using facebook and linkedin Relevant Opinions and Beliefs: Believing in high quality and value products, and will pay extra as long as they get the high level of quality that they are specifically looking for.

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E X PAT

TOURIST

T R AV I S L A M P E R T - 3 5

BOLIN CHEN - 33

Income: AED 220,00 per year Education: Masters degree in Engineering from University of Leeds Nationality: British (English) Occupation: Project Engineer Reason for being in Dubai: Career, enhanced lifestyle due to untaxed income Leisure Activities/Hobbies: Golfing, Travel, Horse Races Homeownership: Rents an apartment in the city Household Composition: Married with or w/o kids Urbanicity: City Shopping Habits: After the initial cultural shock, European expatriates become accustomed to the high luxury environment and purchase luxury goods and services more oftens.

Technological Usage: Uses whatsapp to communicate with numerous acquaintances from different countries.

Relevant Opinions and Beliefs: After an extended period of time expats see buying luxury good as snobbish. Expat intent for their stay to be temporary.

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Income: AED 200,000 per year Education: Bachelor Degree in Communication University of China Nationality: Chinese Occupation: General manager in a distribution company Reason for being in Dubai: Personal travel for holidays Leisure Activities/Hobbies: Traveling, keeping fit, practicing mixology Homeownership: Owner of an apartment Household Composition: Unmarried Urbanicity: City Shopping Habits: Quality and sustainability lover, he would shop both designer brands and luxury brands.

Technological Usage: Very active on a lot of social media platform such as instagram, wechat, weibo, etc.

Relevant Opinions and Beliefs: He would love to spend money on products that will last for longer time or products with creativity and functionality but they do not necessarily have to be luxury brands.

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S T O R E L O C AT I O N , DESIGN, & PRODUCT

J U S T I F I C AT I O N O F L O C AT I O N T H E M E Y DA N H OT E L Expats usually end up staying longer in the country than they plan to. Many expats are young men with families that have let back in their home countries. Expats move to Dubai for work with intentions to save their untaxed expendable income.

The Dubai World Cup brings in over 80,000 to the event alone. The cup takes place during the first quarter of the year which is the busiest period for Dubai. It attracts up to 3 million visitors from around the world with events including the duty-free tennis tournament, the duty-free shopping event, fashion events and of course the World Cup. According to the Research Konnection, events like the World Cup are what drives the retail and tourism sector in Dubai.

For the 2016 Dubai world cup the hotel occupancy is max capacity from the 23rd to the 27th. For the 2013 Dubai World Cup attracts over 80,000 guest according to an interview (view Appendix) The hotel itself operates at 100% capacity.

From September to April the hotel runs an average of 70% occupancy. Hotels in Dubai achieved an average occupancy of more than 87% during March due to the horse race.

A R E A AT T R A C T I O N Vistors in the United Arab Emirates rose from 38% in 2000 to 46% in 2014, resulting in 128 million AED of the UAE’s GDP of the year. One of the largest area’s attraction is the Dubai World Cup. This event is a prestigious horse race held annually at the Meydan Racecourse.

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M E Y DA N H OT E L LO B BY HUMAN RESOURCES With existing stores within the Dubai, Ted Baker will have no trouble finding adequate staff to service the pop-up shop. The store staff will be structured as follows: STORE MANAGER: Recruited from existing store ASSISTANT MANAGER: Recruited from existing store SALES ASSOCIATE (3): Hired and trained TAILORS (2): Hired and trained SECURITY GUARD (4): Hired and trained

STORE HOURS We plan to open the pop-up shop a week before the Dubai World Cup weekend. The duration of the store will be open from March 18, 2017 until March 26, 2017.

In accordance with existing Ted Baker stores within Dubai, the pop-up shop will be open everyday from 10 AM to 10 PM.

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COST OF FIXTURES

FIXTURE S T O R E D E S I G N I N S P I R AT I O N

COST AED

Front Display Table

1

3,268.93

Metal Etagere

2

3,085.28

POS Tablets

2

2,938.36

Electrical Wiring

1

9,193.39

46” Touch Screens

1

10,831.53

Brown Deegan Sofa

1

4,297.32

Suitcase Display

1

165.25

Gold 3-Tier Etagere

1

1,153.31

5-Tier Square Shelf

2

409.62

Gold Leaf Etagere

2

10,578.10

Pants Hanger - 14”

2

367.30

All Purpose Hanger - 17”

2

286.49

Double Rolling Rack

2

705.20

Single Rolling Rack

1

264.45

Fitting Room Curtains

2

1,101.80

Silver Accent Mirror

2

1,175.34

Industrial Garment Rack

5

4,389.15

Leona Cube Table

1

1,098.21

Coffee Table

1

3,301.98

TOTAL

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UNITS

58,611.00

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STORE DESIGN Pop-up Shop Floor Plan

22

Pop-up Shop Rendering

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PRODUCT ASSORTMENT PRODUCT

%

T O TA L AED

Shirts

12%

56,880.94

Blazers

8%

37,920.29

Vests

5%

23,700.18

Tops

12%

56,880.44

Trousers

9%

42,660.33

Jeans & Chinos

6%

28,440.22

Shorts

9%

42,660.33

Underwear

3%

14,220.11

Swimwear

12%

28,4400.22

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PRODUCT

%

T O TA L AED

Bags

5%

23,700.18

Wallets

3%

14,220.11

Belts

2%

9,480.07

Hats

1%

4,740.04

Pocketsquares

8%

37,920.29

Bracelets

1%

4,740.04

Watches

2%

9,480.07

Socks

1%

4,740.04

Shoes

7%

33,180.25

Ties &

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B E LT

TED BAKER x D u b a i Wo r l d C u p

Our stock will consist of mainly mens semi-formal wear to directly relate to the dress code of the Dubai World Cup. We will also be revealing an exclusive collection in collaboration with the event featuring Dubai World Cup branded accessories. Products will range from full suits to accessories and travel items. Prices will range from 55AED to 1836AED. For specifc numbers, refer to the Appendix.

CUFF LINKS & TIE CLIP

POCKET SQUARE

X

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SOCKS & TIE

27

C O M M U N I C AT I O N & P R O M O T I O N P L A N

PRE-LAUNCH

P O S T- L A U N C H

Our team will begin to advertise and inform our customers about the pop-up shop in the Meydan Hotel a month before grand opening. The majority of the promotion will be featured on our top social media accounts-- Facebook, Twitter and Instagram as well as an email newsletter. We will also be promoting a giveaway that will include a room package from the Meydan Hotel.

After the shop has closed and the event has ended, we will continue to discuss the pop-up shop for the month after the event. This will provide us with customer feedback that will help us to improve for our next pop-up shop. We will then release a video following the event to show customers around the world the release of the pop-up shop.

Every Interaction

Jon

Home Create Page

LAUNCH

Recent 2014 2013 Founded

Sponsored

During the span of the pop-up shop, we will continue to advertise and update customers about the event and the shop through our social media outlets. Not only that, but we have partnered with one of the top bloggers based out of the Middle East, Elias El-indari from SMF Blog, to feature the shop and our exclusive products on his blog. We will further encourage the guests to stop by in the lobby to visit the shop through invitations given out through the hotel.

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Ted Baker is one of the UK’s leading fashion retailers, and now has over 34 locations in the US. Like this page for Ted's latest news, collections & more!

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C O M M U N I C AT I O N & P R O M O T I O N P L A N

PRE-LAUNCH

MEDIA

2 /4 / 1 7 2 / 1 1 / 1 7 2 / 1 8 / 1 7 2 / 2 5 / 1 7 3 /4 / 1 7 3 / 1 1 / 1 7

DURING

3/18/17 3/25/17

POST

4/1/17

4/8/17

4/15/17 4/22/17

COST

AED

Facebook Twitter Instagram

75,659.34

Youtube Email Newsletter Blog Post

25,710.65

World Cup Giveaway

11,696.93

PR Hotel Guest Invitiations TOTAL

30

514.03 per 500 113,580.95

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FINANCIAL PLAN T O TA L A E D REVENUE

474,003.64

COGS

163,531.26

GROSS MARGIN

310,472.38

TOTAL EXPENSES EARNING (BEFORE TAX)

EXPENSES COGS

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374,245.55 63,773.17

T O TA L A E D 163,531.26

GOALS

KPIs SALES AVG PEOPLE PER DAY

500

AVG TRANSACTIONS

100

CONVERSION RATE

2%

AVG AED PER TRANS.

1200

AVG # OF ITEMS

3

GROSS SALES

480,003 AED

DESIGN OF SPACE

343,788.00

FIXTURES

58,611.00

STORAGE

4,200.00

EMAIL AQUISITION CONVERSION

80%

WAGES

13,365.00

CLIENT AQUISITION

400

RENT & UTILITIES

7,587.00

LOGISTIC

600.00

PROMO ACTIVITES

113,580.95

TOTAL

705,263.21

CUSTOMER SERVICE

33

CONCLUSION In conclusion, the result of Ted Baker opening a pop-up shop in Dubai during the Dubai World Cup is seen more as an investment in the long term. We did not experience a profit, however, we are able to strengthen our brand awareness in UAE as well as globally through this event.

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