Introduction Background
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Partnerships Concept Target Market Emilia Wilde Story Behind the Name Location SWOT Analysis Memberships Operations Collection The Space Competitors Marketing Strategy Launch Plan VIP Guest List Conclusion Collaborators
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TABLE OF CONT
BR Anchor is a brand concept store for Banana Republic. The purpose of this store is to facilitate rentable wardrobe for people who are constantly in the spotlight . It is something that I have seen an increasing demand for and lack of attention. With my knowledge and skill set that I have acquired through the years, I will deliver the ultimate customer experience that everyone will be talking about.
Banana Republic is a brand under the Gap Inc. umbrella and sister brand of Gap, Old Navy, Athleta, and Intermix. In 1978, Banana Republic was founded by Mel and Patricia Ziegler. They began with the idea of reimagining the military surplus as safari and expedition wear. In 1983, Gap Inc. acquired it as part of their portfolio and now it operates as part of their division internationally. Since then, Banana Republic has evolved from Safari themed, to workwear and business attire to now adjusting to the modern and millennial consumer.
. 03 INTRO
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BACKGROUND
Working in Banana Republic, I have seen a demand for rentals. News anchors and HVP (High Visibility Personalities) have come in and asked if they would be able to rent out a dress in exchange for an on air promotion. Unfortunately, it is not a service Banana Republic offers. Year after year I’ve seen the demand increase so I wanted to create a concept store for Banana Republic targeted for people who are constantly in the public eye whether they are news anchors, politicians, charities etc. where they can rent out garments and have the option of open to buy. BR Anchor will carry pieces from Banana Republic, Joie, What Goes Around Comes Around and we would also carry our own BR Anchor private Label. Services provided here include: - Dry Bar - Juice/ Coffee Bar - Personal Stylists - Alterations - App to keep track of looks you rented and worn
Banana Republic as a whole has great partnership with brands that serve as a third party to them. Some brands include Joie, Elizabeth Cole, Eugenia Kim, and August. They also have a very respected relationship with What Goes Around Comes Around; which is a second hand shop for designer and luxury goods. They work closely with these companies to curate limited edition selections to make the consumer feel even more special.
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PARTNERSHIPS
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CONCEPT
30 Years Old Female Single Income of $85,000 Studied Broadcast Journalism at Syracuse University Lives in a studio apartment in San Francisco , CA.
BR Anchor is aimed towards TV Anchors and high visibility personalities (HVP) who are constantly in the public eye and cannot or choose to not repeat garments.
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TARGET MARKET
Co-Anchor in ABC7 News Bay Area She loves to ride bikes, explore nature, workout, read, and loves sweets
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EMILIA WILDE
SAN FRANCISCO, CA
Since Gap Inc. headquarters are based in San Francisco, CA. and all of their stores have started off there, I found it logical to kick off BR Anchor there as well.
Since it’s a brand extension from Banana Republic, I decided to keep the logo and add to it. Anchor comes from the original demand of TV news anchors for rentals to wear on air. Although it is targeted for anchors, anyone and everyone is welcomed.
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STORY BEHIND THE NAME
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LOCATION
Expand into a new Market Personalized Experience One Stop Shop Amazing Quality Pieces
Limited Competitors Increase in Brand Portfolio Expand into other Cities and States Expand Garments Available to Rent Further Expand Target Market
S O W T Uncertain Level of Client Demand Competitive Pricing Preference of Buying than Instead of Renting
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SWOT ANALYSIS
Business Model May be Easy to Copy New Competitors Low Customer to Store Engagement
PAY AS YOU RENT
$100 A MONTH - UNLIMITED RENTALS
• Wardrobe rentals starting at $40 • Borrow for 2-8 days • $400 insurance deposit if renting designer bag • Bag Rental Starting at $150 • Jewelry Rental starting at $60
• Rent how many pieces you want a month. • Keep them for a Month • $200 insurance deposit if renting a designer bag • Complimentary app. to keep track of looks worn
$250 A MONTH HVP MEMBERS
• Unlimited rentals • First picks on new items • What Goes Around Comes Around items included • Free styling consultations • Basic Dry Bar Services
ADDITIONAL CHARGES:
• Coffee/ Juice bar will be open to the public - $2- $7 • If items rented from What Goes Around Comes Around are not returned on time, customer will be charged full item value - Up to $4,000 • If item rented not returned on time, they will be charged $40 for every day missed • Dry Bar Services for non HVP Members - $30-$60 • Personal wardrobe consultations - $40 • Option of buying after renting for full price - $100- $4,000
(Rental prices vary depending on the brand and item)
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MEMBERSHIPS
(What Goes Around Comes Around merchandise not included)
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OPERATIONS
‘REMINISCING ROOTS” COLLECTION
“Reminiscing Roots” is a mini capsule collection to reminisce on where it all started and where the company is now. As most of us know, Banana Republic started as a Safari and traveling clothing company so we wanted to take its original roots with a modern twist to show how far Banana Republic as a company has come.
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COLLECTION
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REMINISCING ROOTS
... THE SPACE
BR Anchor will be a space where women can come and pamper themselves and have the ultimate personalized service and experience.
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The space will be modern with a twist of industrial. It will be an open space with semi divided rooms but visible one from another.
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THE SPACE
The space will have a Juice/ Coffee Bar, Lounge Area, Showroom, and a Dry Bar.
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PERSPECTIVE
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LOUNGE ROOM
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JUICE BAR
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FITTING ROOM
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SHOWROOM
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Indirect Competitor A personalized concept store that’s a fraction of the usual size and doesn’t sell clothes. However, the store does offer customers personal stylists, tailoring services, and manicure appointments.
Nordstrom Local will also serve wine, beer, espresso drinks, and cold-pressed juices.
Direct Competitor Direct Competitor
Rent the Runway is an online service that provides designer dress and accessory rentals.
Infinite Style by Ann Taylor is an online subscription rental service that gives you access to hundreds of Ann Taylor looks for one flat fee and option to keep. Build your never-ending online closet. Explore new styles launched weekly. Get all the looks you want delivered right to your door. Wear them as many times as you would like.Return all of your garments once you’re ready for a new box.
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COMPETITORS
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MARKETING STRATEGY
BR Anchor will have an App where our loyal customers will be able to track every piece of ours they have worn to never repeat them or learn how to style them differently.
. 29 APP
You can look up outfits by previous dates. The app will also feature things such as reminders as to when something is up for return and alerts for when we get new merchandise. They will be able to schedule appointments through there and request specific stylists if they have any preference.
We will be creating an instagram account where we will promote our new store and announce special events happening. The store will also be promoted on the Banana Republic Instagram page to help raise awareness of the brand. With an Instagram, e-mail promotions and an app, we will spread the word and achieve with the type of clientele we are aiming for.
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SOCIAL MEDIA
Instagram Page The launch party will consist of a soft opening at the BR Anchor location in San Francisco, CA. The event will be held at 7pm - perfect time between getting out of work and dinner time. We will also cater complimentary hors d’oeuvres and a small selection of cocktails. A small list of influencers, local anchors, reporters and celebrities will be attending the event. Reporters from publications such as W Magazine, Complex, Harpers Bazaar, and WWD.
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SOCIAL MEDIA
Email Blast
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LAUNCH PLAN
Anh Sundstrom
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Influencer
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VIP GUEST LIST
Blair Eadie
Influencer
Katie Marzullo
ABC7
Julie Haener
FOX KTVU
Lisa Argen
ABC 7
Alyanna Gomez
FOX KTVU
Olivia Palermo
Celebrity
Kathleen Barnes
Influencer
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Overall, I believe that BR Anchor will be a great addition to the Gap Inc. umbrella because it will further reach a broader target market and reach a new level of competitors. It will get ahead of the industry since I personally believe this is where fashion is headed and it will also further increase profitability and reach the ultimate personalized customer experience.
A Special Thank You to: Xioana Berrios - Interior Design Jacqueline Amar - Interior Design Coco Sin - Fashion Design
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CONCLUSION
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COLLABORATORS
... THANK YOU BY: PAULA ROSA