TABLE OF CONTENT Mission Statement Company Overview Fragrance Market Analysis Fragrance Concept Target Customers Key Competitors Scent Inspiration and Development The Bottle and Secondary Package Product assortment and Distrubtion Marketing Strategy and Launch Plan Conclusion
MISSION STATEMENT
In this proposal, I am going to create the first fragrance product for Alexander Wang. The scent will follow his aesthetics and core values. My vision in Alexander Wang is that brand is becoming a lifestyle and letting the customers live in Alexander Wang’s world. Today, Alexander Wang can be called a lifestyle brand, however, it is not good enough, the brand must complete the product line to become a real lifestyle brand. And I think lauching a fragrance line will be appropriate. This fragrance can connect further with Wang’s loyal and valued customers and create a broader customer base. More importantly, the fragrance can create another dimension of Alexander Wang and bring the brand forward to become a true lifestyle brand.
COMPANY OVERVIEW
Alexander Wang launched the eponymous label when he was 21 in 2005. In 2007 Wang debuted his first runway collection for Autumn/ Winter in New York Fashion Week. Later he received $200000, the top award from the Vogue/ CFDA Fashion Fund in 2008. The brand then grew quickly after he opened Alexander Wang’s first flagship store in SoHo in 2011. Soon after, Wang opened a two-story flagship in Beijing in 2012. Today, the Alexander Wang business is said to turn over about $150 million in revenues with over three hundred employees spread across New York, Paris and Hong Kong. The brand has become very successful in less than ten years, and Alexander Wang has already become the modern fashion icon. AS A PERSON
The brand is all about the style of a passionate and ambitious designer. He called his style ‘M.O.D’ (Model Off Duty). Customers who wear his designs consider themselves as modern and youthful . AS A PRODUCT
Alexander Wang includes the ready to wear collection, the T by Alexander Wang, the accessories, footwear and the objects line. Hopefully, they will start making their own fragrance and cosmetic line. AS A SYMBOL
The brand uses the designer’s name Alexander Wang as the logo. There is no graphic symbol for the brand. The T by Alexander Wang just uses a big ‘T’ in bold font as the symbol. The color black is a signature color for Alexander Wang. Here is a quote from Alexander Wang about black. ‘For me, I don’t know if it’s about comfort or attitude, but I’m naturally attracted to something with a bit of an edge, or something that feels dangerous or ominous.’ AS AN ORGANAZITION
Alexander Wang Inc. is a private owned company. In June, the company announced that in addition to his role as designer, Wang would take on the role of chief executive and chairman, replacing his sister-in-law and mother, respectively.
MODERN YOUTHFUL CREATIVE STREET EDGY DOWNTOWN MODEL OFF DUTY
AS A PERSON
AS A PRODUCT
AS A SYMBOL
AS AN ORGANAZITION
FRAGRANCE MARKET ANALYSIS
The global fragrances market in 2015 was marked by an impressive recovery reaching US $45.7 billion, up 6 % over 2014, the fastest growth recorded over 2010-2015. Sales of premium unisex fragrances are projected to double from 2015 to 2020, reaching US$430 million in current value terms. The unisex premium fragrance are the most popular category for millennials. The millennials are seeking scents that cater to their personal interests, rather than their gender. The fragrance they chose are unidentifiable and often with simple scent. There are two unisex fragrance brands under Estée Lauder that have adeptly captured millennial interest; between 2014 and 2015 Jo Malone and Tom Ford fragrance sales grew 25% and 17%. Millennials are drawn to the authenticity of these fragrances. The luxurious ingredients help justify their premium positioning. Both of these brands showcase costly ingredients and their exotic provenances. Tom Ford named his fragrance after the key ingredients like ‘Oud Wood’ and JoMalone proudly advertises its Red Roses Cologne as a “blend of seven of the world’s most exquisite roses”. Other popular fragrances like Masison Margiela are using the fragrances with a story to attract the millennials. Maison Margiela Relica line named their fragrance ‘Beach Walk’, ‘Jazz Club’ and this creates a unqiue choice for millenials to represent particular aspects of their own life. The fragrance market is not having a gender prefernce anymore. And the ‘everyday’ fragrance does not exsit anymore. Customers buy the fragrances because they want to chase after the brand fantasy or they want a special scent to represent their personal interest.
FRAGRANCE CONCEPT
Alexander Wang is one of the most popular contemporary fashion designer. The brand has expanded globally and aggressively; launching brand extensions included bags, shoes, accessories, jewelry, object and furniture collections. However, there are open opportunities for growth remaining such as fragrance and cosmetic extensions. Millennials will now like to see simple yet dramatic statement fragrances more than the traditional every day fragrance. To capture millennials’ hearts, minds and noses, Alexander Wang ‘s fragrance should stay in a mordern simple mood. It will be unisex and a simple scented fragrance that can show the Alexander Wang’s fantasy. The fragrance launch is a new chapter for Alexander Wang. So the first fragrance will simply be called Chapter One. It will remain mysterious when it is first launching. It also means there will be large collections of scent by Alexander Wang in the future.
TARGET CUSTOMERS
Gender, men and women Age 22+ Income level 40000+ High Level of Eduation, bachelor’s degree or higher Lives in internetional city such as NewYork, Shanghai, Hong Kong. Appreciates high quality, well made products that is fashion forward Has an eye for simple and classy design but have a young spirit inside Want to show strong personailty through fragrance
KEY COMPETITORS
Replica Maison Margiela Unisex $55 - $180 0.34 OZ/1.7 OZ/3.4 OZ Eau De Toilette/ Eau De Parfum
Tom Ford Private Blend Unisex $225 - $595 1.7 OZ/3.4 OZ Eau De Toilette/ Eau De Parfum
John Varvatos Collection Men $69 - $150 2.5 OZ/4.2 OZ Eau De Toilette/ Eau De Parfum
Commodity Unisex $105 - $135 3.4 OZ Eau De Parfum
SCENT INSPIRATION AND DEVELOPMENT
Modern and mysterious is the core style of Chapter One. Modern, because it is all about the brand. Mysterious, because it is how Alexander Wang describe himself. Leather is chosen to be the key note of the fragrance. The rich leather scent evokes memories of entering Alexander Wang’s modern and edgy fashion world. The leather scent also lies in the midline between masculine and feminine tones, leaving a mysterious feel in the fragrance. Chapter One aids to create conjunct olfactory fingerprints and memories between Alex himself, the brand, and the customers.
Fragrance Family Leather Scent Type Musky Leathery Key Notes Leather, Vanilla Absolute, Woody, Musky Ingredient Leather, Oud Wood ,Vanilla Absolute, Bergamot, Musk Style Modern, Mysterious, Alluring, Distinctive, Smooth, Warm
THE BOTTLE
The bottle design of Chapter One is going to follow Alexander Wang’s aesthetic. The leather skin bottle with the sliver edge reflect the scent and also provide a modern tone. Chapter One can perfectly blended into Alexander Wang exciting product. The bottle of the future fragrance collection will use the same shape with the sliver edge. Only the skin will be changed depending on the theme of the scent.
THE SECONDARY PACKAGE
The secondary package is inspired by Alexander Wang ‘s furniture collection. Using Alexander Wang’s iconic black and finish with a sliver cut in the middle as the opening. The box can be use as a display stand while the bottle is inside the box. The skin of the box is made of leather print cardboard.
PRODUCT ASSORTMENT
Alexander Wang Chapter One Eau De Perfume Spray One Size 100ml / 3.4oz. $150 USD
PRODUCT DISTRIBUTION
Tier 1 All Alexander Wang Store Worldwide Alexander Wang E-Store Tier 2 Barney New York and its E-Store Lane Crawford and its E-store
THE MARKETING PLAN
Pre Launch October 2018 Marketing will begin with blasting social media teasers. They will be post on Facebook, Instagram, Weibo and Wechat. The posts on social media will only tell the followers that something big is happening soon and keep mystery what Alexander Wang is launching. The posts will simply give a hint of the name ‘Chapter One’; the fan and followers need to guess what the launch is about. Launch November 2018 The Chapter One Fragrance will be revealed with a launch party in the flagship stores in New york, Hong Kong and Shanhai. The invitations will be sent to fashion related celebrties in the three locations. The launch event will also be live on Facebook and Instagram. Socail media will also introduce Chapter One; welcome it to join the Alexander Wang’s product family. ChapterOne is avaliable online and Alexander Wang’s store. Post Launch April 2019 Chapter One is going to release a refillable version and a 50ml/ 1.7 Oz version. The refillable fragrance will bring the customers back into the store; the service can further build up relationship with the customers.
CONCLUSION
Chapter One recorded the brand value of Alexander Wang into a scent. The brand extension complete Alexander Wang’s product line and bring the brand forward to become a true lifestyle brand. Chapter One can also open a new page for Alexander Wang; a new chapter to the fragrance market or even the cosmetic market. Hopefully, Chapter One can be released on time next year. There will be large collections of scent created by Alexander Wang in the future. The Chapter will keep going on continually.
PAN WANG