La Rinascente

Rinascente.

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Rachael McGowan IED Moda Fashion Marketing & Communication Fashion Buying 1

TABLE OF CONTENTS

Introduction 23. CONTEMPORARY WOMENSWEAR

Introduction 3. INTRODUCTION

History

History

Company Perspective

Brand Assortment

Mission

Floor Target

8. PROFILE

27. TREND ANALYSIS

Stratergy

Communication

Distribution

Development

Competition Policy

32. PROPOSAL

14. LA RINASCENTE, MILANO

Competition

Location

Position

Store Analysis

Store Target

Fall/Winter: 2014/2015

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Gap Fillers

Brand Selection

Buying Assortment

Buying Allocation

Sales Forecast

INTRODUCTION

5 .History

6. Company Perspecive

7. Mission

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HISTORY

Rinascente S.p.A is Italy’s leading department store group. The company operates under two core brands; La Rinascente which focuses on upscale and luxury products and Upim which is focused more towards the mid market. La Rinascente is Italys oldest department store which opened in 1917 in Piazza Duomo, Milan.

Ferdinando Bocconi opened Italy’s first ready-to-wear dress shop in 1865. The shop was set up on Via Santa Radegonda and remained a fixure in Milan’s retail market, it later moved to Piazza Duomo, this later expanded into a department store format. By the outbreak of World War I the Bocconi family had become one of Milan’s leading familes after which they founded Milan’s first private business school, Bocconi University.

In 1917 they sold their department store to the Borlettis who had gained status as industrialists through their alarm clock factore. The Borletti family continued to expand the department sotres introducing a modern daprtment store format. In 1928 the family acquired a new department store format, Upim. The store chain was based on the fixed-price format launched by Frank Woolworth in the 19th Century.

In the 1943 the La Rinascente flagship store in Piazza Duomo, Milan was bombed drring a World War II allied forces attack. It was only in the 1950’s that the store was completed and the recovery lead it to become a real institution in the evolution of consumption. The growing strength of the Italian economy led La Rinascente to begin exploring other retail areas in the 1960’s and 1970s.

La Rinascente became one of the first companies in Italy to branch out into the newly developing supermarket sector in 1961, this had only previously been seen within the United States in the 1930s and 1940s. This captured a consumer growth of spending throughout the end of the century La Rinascente continued to grow rapidly adding to it’s retail selection with electronics and home appliances from the chain Trony and also kitchen and home furnishings from Croff. In 2005 La Rinascente was sold to a group of investors, Pirelli RE, Deutsche Bank and the Borletti family. The intent from this was to reposition the brand upwards and turn it into the best showcase of Italian and International brands. In 2011 La Rinascente was aquired by Central Retail Corporation.The Thai group is the leader of South-East Asia distribution sector and department stores, with over 60 years of history and 66,000 employees.

Vittorio Radice was appointed managing director and due to his prestige and success with companies such as Habitat and Selfridges he could help La Rinascente position themselves upwards increasing it’s value.

(Adapted from Answers.com and Reference for Business: 2014)

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PERSPECTIVE

“La Rinascente covets the acclaim of being the most elegant department store in town, attracting and enjoying the appeal of an international clientele.

Striving to maintain this recognition, La Rinascente is constantly restructuring and remodelling its stores to keep up with current trends. It endeavours to satisfy the requests of its customers, and is forever seeking new opportunities to branch out and establishstores in all the main towns and cities in Italy, focal points as well as key shopping malls. Its trading policy is directed towards the continual updating of its products and service standards, aiming to satisfy the most demanding of customers, and underlining its role as the promoter of Italian fashion.�

(Reference for Business: 2014)

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MISSION

In 2005 their new managing director Vittorio Radice came in to flip the department store from what it was to what it is. Department stores such as Habitat and Selfridges had undergone massive expansion programmes under his leadership and they rapidly because the symbols of shopping. His goal was to reposition the brand through a three step strategic process of change.

1.

Renovation of all the stores and expansion within the most important Italian cities.

2.

Enriching the commercial offer including the best brands in fashion, design and lifestyle both Italian and international

3.

Transition from the self service assistance to the client carrying out real poles of attraction with events and news updates so that the shopping becomes engaging and rewarding. Radice stated that the customer should leave satisfied and feel as if they are taking home a piece of the store, a souvenir. You need to convince the client that he is buying a dream, something that will last.

(Rinascente.it: 2014)

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PROFILE

9. Stratergy

10. Communication

11. Distribution

12. Development

13. Competition Policy

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STRATERGY La Rinascente is number 1 luxury department store in Italy and well known among tourists that visit. Rinascente has an admirable relationship with both Italian and International brands. Therefore it will be beneficial for them to expand into new markets and become distributors of Italian products both in domestic and abroad. La Rinascente wants to continuously support the excellent work of the current management whilst creating an oppurtunity for Made in Italy products to expand in a profitable and fast growing new market.

La Rinascente want’s to create a “Design Supermarket” - a department where various new designers and trend based products can be displayed and pruchased. The placement for this focuses on the idea of innovation and linking customers back to this experience. They want to be one of the leading luxury department stores going up against companies like Selfridges, Harrods, Le Bon Marché, Bloomingdales and Henry Bendal.

The renovation to the stratergy which was implemented by the current manager, Alberto Baldan, shows the pursuit of innovative design and the continuous update to the commercial offer. Today La Rinascente is the point of reference for international quality of shopping within Italy and through the constant update of brands and design as well as the combination of innovation they hope to become one of the most desirable internation department stores competitng with those mentioned above.

The Rinascente group have experienced moments of great success whilst maintaining a high level of brand awareness in it’s century history. Above all they always knew how to read the signals of their own time and at the right time so that they could change their stratergy and communication in order to become a reference point for luxury shopping.

(Adapted from Bloomberg: 2014)

Vittorio Radice states that his customer doesn’t wants to sell what people want and that is labels over products. The wardrobes of his customer are filled with shirts but they don’t want a shirt they want that shirt and that tie. 74% of the customers are there for a recreational reseon and the prices of the products aren’t recreational. They aren’t buying into a bag they are buying into a brand and into a part of luxury which captures their imagination. (Dawson: 2010)

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COMMUNICATION Communication between a company and it’s customer is key and in order for a business to grow and develop fully it must bridge the gap between the two. La Rinascente has a rich heritage encapsulating the Italian brands and lifestyles.

However the communication of the store and this heritage is weak in comparison to other international department stores. La Rinascente are lacking bespoke services aswell as a VIP appeal, convenience is not something which they have take on board and the development of this needs to be imminant in order for them to become one of the top 5 positioned internation department stores Facebook is the biggest network sight enabling businesses to communicate with the customer on a daily basis. La Rinascente however does not optimize this platform having 3 seperate accounts for the department store with 3,260 combined likes across the 3 accounts.

Twitter on the other hand is something that La Rinascente have just started to persue. This new stratergy is good for the company as they can engage their customer and interact with them with updates and promotions as well as new brands.

However they still are not frequently promoting theirselves on these platforms and therefore missing an oppurtunity to propel theirselves forward.

Finally the last platform for communication for them is through Instragram. As shown they have an account however are yet to post any images. Images are one ot the most influential tools online as it helps to captivate the audience and visually appeal to them.

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DISTRIBUTION AND GROUP ROMA Galleria a. Sordi 00199 Roma

MILANO Piazza Duomo 20121 Milano

GENOVA Via Ettore Vernazza 16121 Genova

CAGLIARI Via roma 143 09124 Provo

TORINO Via Giuseppe Luigi Lagrange, 15 10100 Torino

PADOVA Giuseppe garibaldi square 35122 Padova ROMA Piazza Fiume 00198 Roma

FLORENCE Piazza Della Repubblica 50123 Florence

CATANIA Via etnea 95121 Catania

MONZA Largo Giuseppe Mazzini 20900 Monza

PALERMO Via Roma 289 90133 Palermo

La Rinascente is the most prestigious and avant-garde chain of department stores in Italy with 11 outlets located in the heart of principal towns and cities. The distribution for the stores is handled by Central Retail Cooperation who are the largest and most diversed retail group in Thailand. They cover department stores aswell as speciality stores and supermarkets. They expanded their business into Europe in 2011 when they acquired La Rinascente.

Central Retail Cooperation began in 1927 when it was founded by Mr Tiang Chirathivat, his son Mr Samrit Chirathivat went on to expand the business in 1957 when he established the first Central Department Store in Wang Burapha in Bangkok. The group now aquired over 500 stores nationwide with combined retail space of 2.1 million square meters. (Centralgroup.com: 2014)

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DEVELOPMENT

By 2015 La Rinascente are going to be opening their second flagship store to the chain which will be situated in Via Tritone, Rome. It will create an area of 15,000 square meters which will be spread over several floors offering an extremely varied and prestigious commercial offer.

Over the course of the next 5 years they hoping to create a rich and varied collection of stores with each store being recognizeable to the Rinascente group yet all offering something unique and distinctive from the rest. It will beomce the “must see place� with a varied product range and brands that are more representative of the contemporary consumer becoming one of the cathedrals of shopping along with New York, Paris and London.

(Adapted from La Rinascente: 2014)

The flagship store in Milan is also undergoing further development in order to appeal to a wider audience target. The Annex building for the department store has been closed down for renovations and will be reopening in November 2014 where it will become an area focusing on high and contemporary fashion for a younger teenage demographic.

(Amelia: 2014) This development will allow them to compete with department stores such as Selfridges who already have an exisiting teen floor with a mix of designer labels aswell as fast fashion brands such as Topshop with a selection of their most fashion forward pieces.

For this development some of the brands from the contemporary men and womenswear floors could be moved in order for them to appeal to a more suitable demographic.

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COMPETITION POLICY

Vittorio Radice, CEO of La Rinascente. Image via german retail blog : 2010

The Company recognizes the fundamental importance of a competitive market and, in observance of national and community anti-trust regulations, in addition to the guidelines and directives of the Market and Competition Control Authority, shall not act in any way or sign agreements with other companies that may unfavourably influence the competition arrangement between the various operators in the market concerned. Specifically, the Company and the Addressees shall avoid practices (creation of cartels, splitting of markets, limitations in production or sale, qualified agreements, etc.) such as to represent a violation of competition laws. They must act in a correct, transparent and collaborative manner in respect of legal regulations, not interfering, preventing or disrupting the execution of the trade or industry of other parties, and not knowingly infringing the industrial and/or intellectual property rights of third parties. All the addressees shall refrain from carrying out undue pressure, threats, acts of violence, ploys, fraudulent activities or, at all events, conduct that may in any way prevent or disrupt the implementation of the commercial or entrepreneurial operations of other parties or the free exercising of competition on the market.

La Rinascente are competing not only within Italy but also on an international level. In order for them to achieve the highest of luxury status they must look at what their competitors are doing. In terms of luxury department stores they are competing with the likes of Selfridges, Harrods, Liberty, Saks 5th Avenue, Bloomingdales, Excelsior and Coin. All of these department stores have an assortment of products as well as multiple price points allowing the product selection cater to everyone. However the brands, which La Rinascente have in there, store fall back more traditionally on to the Italian brands but recently an investment in the store it’s self in 2005. The idea is the reposition the brand upwards and turn it into the best showcase of Italian and international brands (La Rinascente: 2014)

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LA RINASCENTE, MILANO

15. Store Target

17. Location

18. Competition

20. Store Structure

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TARGET Due to the location of the department store the segmentation of for the targeted consumer can drastically vary. Whilst a luxury department store may not appeal to all customers the demographic. In a way to not oversell the department store only one logo of the La Rinascente name can be found on the walls of the store above the Customer Service desk, the appeal of this strategically conveys the idea of a designer store allowing it to speak for itself. Vittorio Radice stated in an Interview with Mike Dawson in Lebensmittel Zeitung that the reasoning behind this is that “we aren’t manufacturers, too often a label becomes a search margin rather than the customers.

We’ve reduced our private labels as a share of annual revenue from 80% to 20% over the last four years” (Radice: 2010).

They customer is treated in the same way regardless allowing them to keep the customer with them permanently drawing in masses of people generating eneregy, adrenaline and the stimulus to buy. High customer footfall generates a high level of interest with the consumer and makes them want to be a part of something and be there, everyone is therefore welcome in La Rinascente. The appeal however cannot be towards everyone, not everybody wants to spend time inside a store but the variety of catergories which it has to offer can appeal to all people, whether thats electronics, beauty, fashion, lifestyle or the restaurants and bars.

This positioning based on the idea that all customers are welcome differentiates La Rinascente from the luxury fashion monobrand stores. You don’t specifically have to go into La Rinascente to be looking to buy but the incentive to want to buy and the brands allow their product to speak for themselves without needing to be heavily pushed externally.

The segment of department stores in Italy only accounts for 2.2% of the national retail market (Dawson: 2010) and this is due to the lack of space or demolition enabling a bigger department store to grow so the concept behind La Rinascente is to develop the experience and push the brands in order for it to make up for the lack of space with competitors such as Harrods.

Rather than trying to appeal to a specific age range or target demographic, La Rinascente appeals to the luxury consumer, the tourist who dreams of one day owning a Louis Vuitton and the by passer who grabs the attention of the window display. Each product they sell has the same intensity of packaging and service whether that is a bottle of water or a luxury handbag.

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LOCATION The flagship deparment store is located in the heart of Milan just metres away from the Duomo, the biggest tourist attraction in the City. The perfect location allows customers to enjoy the beauty of Milan and combine it with the luxury and all that it represents. The rooftop bar offers a spectacular location and view enabling customers to look out and enjoy Piazza Del Duomo whilst enjoing both drinks and food. This encapsules the idea of VIP service with an idea of relaxation.

The tourist based attraction of Duomo enables La Rinascente to experience a lot of tourist traffic with customers visiting the department store from all areas of the globe. This kind of appeal means that La Rinascente must cater to all sectors of their audience whether thats international or Italian with brands and products to suit this.

The environment of the store enables customers to break away from the hurricane of people allowing them to escape into a luxury environment and loose theirselves within the designs and products with cafe’s and restaurants situated in the basement and also on the seventh floor.

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COMPETITION DIRECT COMPETITORS EXCELSIOR Excelsior is locatioed in the historic building of the Galleria del Corso 4, situated behind the Duomo Cathedral, 280 metres away from La Rinascente. Excelsior offers a unique shopping experience enclosing architectual video installations with a kaleidoscopic effect and floating elevators. This concept appeals to the new world wide shopping icons by combing innovative design and technology with the history and culture of Milan. Excelsior opened in 2011 with annual revenues of €30 million (MF Fashion: 2013). Excelsior offers an exlusive selection of brands including Manolo Blahnik, Tiffany & Co, Rag and Bone, Helmut Lang, Laudree and many more. The exclusivity of some of these brands draws the attention of the consumers. The interaction between the company and the consumer is strong as they have a strong social presence aswell as a strong communication method through their concept in the store.

10 CORSO COMO 10 Corso Como was founded in 1990 by galleristy and publisher Carla Sozzani. It began with a gallery and bookshop which were shortly followed by a boutique fashion store in 1991 and a cafe in 1998. The focus is of the art and design world is still apparent throughout the store creating a calm, relaxed and tranquil area for it’s customers.

INTERNATIONAL COMPETITORS SELFRIDGES Selfridges is one of the worlds biggest and most well known department stores. The current managing director Vittorio Radice is the man responsible for turning around the luxury retail store allowing it to over take other chains for it to become the phenomenon that it is today. Selfridges opened in 1909 after it was founded in 1906 by Henry Gordon Selfridge. His revolutionary understanding of publicity and the theatre of retail allowed him to create a niche in the market. Today Selfridges has annual turnover of £1.1 billion (Alexander: 2014) with further development being taken underway. Selfriedges continously keep up to date with the customer offering bespoke services making each customer feel like a VIP. HARROD’S Harrod’s is an upmarket department store located on Brompton Road, Kensington. The store was founded in Charles Henry Harrod in 1824 where it worked as a haberdasher, mercer and draper. The store occupies 5-acres of land and has over 1 million square feet of selling space in over 330 departments making it the biggest department store in Europe.

Harrods generated a revenue of £1.5 billion in 2013 (Global Blue: 2014). Harrod’s maintains the balance of tourism and local customers with products appealing to the needs of both.

They also maintain the tradition of the store with the new technologies of the 21st century embracing the future of retail.

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LIBERTY OF LONDON Liberty of London was founded in 1875 by Arthur Liberty. Since the opening of the store it has always been synonymous with luxury and great design. The intuitive vision and pioneering of Arthur Liberty led him to travel for individual peices and inspire and excited his clientele. The legacy of Arthur Liberty is still strong today standing for integrity, value, quality and innovation. Liberty of London revieved an annual revenue of £62.7 million in 2013, a 20% rise from 2012 (Liberty.com: 2014) HARVEY NICHOLS Harvey Nichols was founded in 1831 by Benjamin Harvey when it opened as a linen shop in a terraced house on the corney or Knightsbridge and Sloane Street in London. Harvey Nichols is a premium luxury department store focusing on the most desireable and cutting edge products and luxury experience. The product is a forefront within this company offering bespoke services for the clients. Harvey Nichols offers the ultimate shopping experience, a club that doesn’t require a memebership (HarveyNichols.com: 2014) It offers exclusive niche and established labels which are amongst every collections offering must-have edits for their wardrobe from everyday to extraodinary.

Each of the international competitors represent their brand in a way which communicates the concept with the customer. Whilst they are all luxury department stores they all have something new to offer and this is because they understand their niche is and how to adapt this to a specific demographic.

They also communicate well with their customer offering click and collect services for convenience benefiting them and their customer creating a relationship with them. This kind of service is something which a higher luxury shopper seeks in their experience in order for the price and the experience to match and interlink.

The international department stores also all have an e-commerce allowing customers to browse new in items and collections before visiting the store. It also allows them to purchase straight off the website. The likes of selfridges also have the option to deliver to store for free so that you can try on any items or view any fashion items and if it isn’t right you can then return the item straight away without having to seek out the returns policy.

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GROUND FLOOR AND MEZZANINE Dedicated to Beauty and Accessories these floors now house some of the most luxurious brands including Chanel cosmetics, Louis Vuitton, Dior, Burberry, Tom Ford, Mui Mui, Celine, Chloé, Dolce and Gabbana and many more. These floors scream luxury, the clear and clean aesthetics and separations of brands really make it clear to view the merchandise with clean product placements allowing consumers to look into the individual concessions.

FIRST FLOOR Renovation of this floor began in 2011. It now hosts the first lines of the most prestigious brands in the industry. Alongside this is premium denim and contemporary brands such as Givenchy, Alexander McQueen, True Religion, Moschino, Christopher Kane, Burberry, Fendi, Lanvin and many more. However some of these brands such as Christopher Kane, True Religion, Givenchy and Lanvin have only 1 rail of clothing, some of them two and product isn’t getting displayed, as it should. For a luxury store these brands get put up and displayed as if they are fast fashion and worth far less that what they are.

SECOND FLOOR This floor host’s fashion collections upper casual and formal menswear with stores within stores for brands such as Lacoste, Sartoria, Gant, Peuterey, Corneliani and many more. The brands however, some at least, feel out of place, like they should belong on the first floor.

Generally speaking however the floor itself oozes the idea of luxury with black beams and grey walls with white lightening appearing as if to highlight each brand.

THIRD FLOOR This floor host’s contemporary women’s wear with designers such as Moschino Cheap and Chic, Burberry, Versace, Max Mara and DKNY. Also on this floor are women’s shoes with brands such as Valentino, Chloé, Tods, Bottega Veneta, Gucci, Giuseppe Zanotti design and many more. The shoe section within is luxury with beautifully crafted shoes welcoming you and you come up from the second floor however the selection of designers for this floor feels a bit miscellaneous, they don’t seem to match or go together and the merchandise itself doesn’t feel luxury nor does the atmosphere created within the floor.

FOURTH FLOOR This floor is dedicated to Women’s luxury fashion with designers such as Michael Kors, Marc Jacobs, Pinko, Sandro, Philosophy, Alexander Wang, Elizabeth and James, Stella McCartney, Marni, Victoria Beckham, Kenzo and Opening Ceremony as well as many more.

This floor to me feels like a collection of contemporary designers and brands of today making this floor feel like it would appeal to a slightly younger audience than that of the previous floor. Like the first floor this floor also has a selection of premium denim brands complimenting the designers.

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FIFTH FLOOR This floor is dedicated to childrenswear and lingerie. This floor has childrenswear from matching designer labels that can be found throughout men’s and womenswear mainly focusing on babies and children with a couple of brands doing clothing up to the ages of 10.

The lingerie selection and also swimwear has a large selection of ‘designer’ however the combination of the two together appears to be quite an odd combination.

SIXTH FLOOR The sixth floor is dedicated to home ware with beautiful décor and bedding as well as candles and also air humidifiers, this floor is clear and precise and again feels luxury fitting in with the rest of the store. It is easy to navigate and it also quiet and tranquil which is something that can’t be said for the some of the other floors.

SEVENTH FLOOR The seventh floor focuses mainly on taste and was launched in 2007. It is divided into corners that are managed by different partners. It is the first time in the Italian market where you can choose between so many different selections of foods in a single space. From sushi to wineries, oyster and champagne bars and also the mozzarella bar and roof terrace this floor is devoted to giving the customer options. The concept of this is something to be desired and proves that La Rinascente are prepared to be innovators and introduce new ways of leisure into the market.

EIGHTH FLOOR The top floor houses a hair stylist and hair dressing company, Aldo Coppola. This floor is bespoke for their clients. This creates a VIP service for their clients and customers however it isn’t very well highlighted through out the store.

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CONTEMPORARY WOMENSWEAR

24. Floor Analysis

25. Brand Assortment

26. Floor Target

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FLOOR ANALYSIS The fourth floor relies mostly on contemporary fashion as well as the seasonal pieces where as womenswear on the third floor doesn’t seem to rely as much on the statement pieces. Within the fourth floor there are many new and current designers rather than heritage designers as well as some premium denim brands.

The fourth floor houses 70 diffrent brands enabling a wide range of brands for the consumer with sizes starting at 34 and going up to 40. Some of these brands have a permanent fixture within the store whereas other are on a continuous rotation allowing them to be replaceable and brought in when the season fits. This continuous change however isn’t neccessarily a good thing, specifically for the customers as the idea of desirability starts to loose part of meaning.

The assortment of brands ranges on this floor; it has a mix of premium luxury with brands such as Stella McCartney, Kenzo and Alexander Wang and also has luxury brands such as Pinko, Philosophy and Sandro.

The representation of contemporary fashion isn’t portrayed that strongly within this floor, although it may have contemporary brands such as MSGM and Kenzo, the merchendise selection and the buying for each brand doesn’t showcase this.

The merchandise within this floor is displayed either in s’shop in shop’’ areas or on rails in the center of the floor. The displays however seem to miss match within the brands with some displays offering Kenzo, Victoria Beckham and Pinko on a shelf together when the rest of the collections are on opposite sides of the floor.

La Rinascente is a commercial department store with high tourist traffic therefore the selection that they have must appeal to the masses however they are wanting to position theirselves to be one of the 5 most desirable department stores internationally competing with London, New York and Paris aswell as upcomers from Japan. This kind of strategic planning must be followed through in order to be trend savvy and fashion aware as well as appealing to what the customer wants which is something that isn’t very pushed amongst this floor.

This floor has been split up into two halves, the first half which is directly infront of you when are travelling up from the third floor offers alot more of the first lines of luxury labels with the design focusing more towards classic pieces rather than trend orientated pieces. Some of the designers which can be found in this half are Stefano Mortari, Valentino, Victoria Beckham, Stella McCartney, Sonia, Drome, and Pucci.

The second half which is directly infront of you if you are travelling down from the fifth floor is focused more on second lines of designers labels as well as having a much more contemporary orientation in terms of trends and design. Also within this section is a central station which is on a weekly rotation showcasing new in designers to the floor as well as limited collections with 5-8 pieces.

This is a interesting showcase area for the floor as it enables customers to see new in products straight away.

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BRAND ASSORTMENT Each of the brands which are on the floor are directly operated by the owner therefore allowing them to have full control and showcase their image. The floor has 20 shop-in-shop formats which are from brands such as: Philosophy Diane Von Furstenberg Michael Kors Marc by Marc Jacobs Sandro Pinko Vivienne Westwood Just Cavalli Zadig & Voltaire Jil Sander Navy Alexander Wang Red Valentino Valentino Marni Stella McCartney Burberry Pucci Chloe Vionnet Moncler The rest of the brands on this floor have a selection of rails. Also the floor has a collection for Max Mara which is limited edition specifically for La Rinascente, however, this section has been whittled down to just one rail which isn’t showcased as highly as it should be.

Limited collections such as this should be at the forefront of the floor so that it draws in the customers attention.

The core brands which stand strong on this floor are that of the shop-in-shops however some of them do not feel like they belong on this floor. The contemporary feel doesn’t particularly resignate with the customer and this is due to the assortment. Within the middle section with the concessions the mix matched selection makes it hard to view the brands and their style with them being back to back with other brands.

The designers which sell and appeal most are the more contemporary designers which can’t be found elsewhere where as the higher luxury brands such as Stella McCartney and Valentino consumers can find the brands in their monobrand stores as well as in other various locations. The contemporay designers such as MSGM, Philosophy, Sandro, No21 and Elizabeth and James have a much smaller audience than that of Kenzo and the exclusivity of being able to view and purchase the brands in this environment appeals to a wider audience. The typical shoppers of La Rinascente are tourists and those tourists have the convience of finding the desirability of contemporary fashion.

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TARGET The fourth floor focuses corely on the idea of contemporary fashion.

The offer of brands suggest that customers are tourist’s specifically Russian, Asian or Arabian between the age of 25 and 45 year old. The purchase power is higher for the group of females as they are younger than the typical european customer. Statistics show that women aged between 45-54 have the highest rate of disposable income with an average of $44,603 (esri.com: 2014) This demonstrates that typically it would be this age range who could afford to buy luxury fashion however due to the selection and appeal of the contemporary fashion within the fourth floor it is apparent that it is targeted towards a younger demographic.

The luxury brands will become a point of interest within these women helping them to declare their social status and define theirselves amongst their peers.

The targeted female shopper for this floor is seeking ‘Made in Italy’ quality combined with high fashion content and design. The ‘Made in’ concept is highly important to this customer as it enables trust not only with the brand but also with La Rinascente creating an association with the consumer. Where and how a product is made is a great influence for the consumer as it offers key considerations such as the quality and the ecological standards and therefore the point of purchase for the customer. The economic challenges for certain countries have added pressure to compete in an effective way for investment. The term ‘Made In’ is an important issue and oppertunity for brands and understanding the origin and it’s meaning creates an oppetunity for companies to develop a competitve advantage and differentiation.

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TREND ANALYSIS

28. Fall/Winter: 2014/2015

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Acne Studios FW’14 via Style.com

Maison Martin Margiela FW’14 via Style.com

Rag & Bone FW’14 via Style.com

Hermès FW’14 via Style.com

SIMPLISTIC TAILORING A clean aesthetic of cut and the simple elements of tailoring for the understated luxe. The simple silohouettes define the women creating a beautiful new shape. The pure fragility and tenderness is brought to life through neutral colour palette creating an effortless vibe.

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Marc Jacobs FW’14 via Style.com

Michael Kors FW’14 via Style.com

Edun FW’14 via Style.com

Calvin Klein FW’14 via Style.com

TIGHT KNITS Wrap yourself in tight knits, head to toe with matching co-ordinates and chunky statement jumpers. Embrace the winter with statement pieces adding detail and allowing it to mold and sculpt itself around the body.

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Fendi FW’14 via Style.com

Donna Karen FW’14 via Style.com

Sacai FW’14 via Style.com

No21 FW’14 via Style.com

SHEER DETAILING Sheer paneling adding layers and detail. The mixed knit and dark colours showcase a dark romance with feminity and sexuality. This detailing can be seen on the New York, London, Paris and Milan.

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Nina Ricci FW’14 via Style.com

Emporio Armani FW’14 via Style.com

Marc Jacobs FW’14 via Style.com

Sacai FW’14 via Style.com

TEXTURE Detail is key adding interest to an outfit. Choose from leather, friging, fur and velvet in muted hues and vibrant reds to encapsulate all that is this seasons must haves for Autumn Winter 2014/2015.

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PROPOSAL

33. Gap Fillers

35. Brand Selection

40. Buying Assortment

49. Buying Allocation

51. Sales Forecast

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GAP FILLERS The whole basis of the fourth floor is high luxury and contemporary fashion with a unique and diverse variety or designs and brands. However within this selection of brands is a miss match of fashion which labels that don’t inerlock with one another correctly, each brand over shadows the next creating a chaotic experience and vision amongst the consumer. In order for this floor to function as a contemporary and high fashion floor it must first compare it self with that of it’s competitors.

Excelsior is located merely 280 metres away where it houses contemporary brands such as Rag & Bone, David Koma, Helmut Lang, Camilla and Marc and 3.1 Philip Lim. These are a selection of brands which are hard to find within Milan therefore attracting fans of these brands to Excelsior in order to view the new collection with the intent of purchasing.

The brands which can be found on the fourth floor of La Rinascente are not neccessarily brands that can’t be found in other parts of Milan, specifically the more contemporary orientated brands. Some of these brands such as Sandro, MSGM, Jil Sander, Kenzo and MM6 all have stores or concessions outside of the department store so what would appeal to their customer in order to make them go to La Rinascente instead of the other stores or stockists? The appeal of being able able to look at new contemporary designers and view collections and good visual merchendise highlighting key brands and trends.

WHAT DID YOU FIND MOST DISAPPOINING WITH LA RINASCENTE? The selection of womenswear product, they have all of these amazing brands but they don’t showcase them well and the products they have aren’t neccessarily the best selection within the current collections.

IF YOU COULD, WHAT WOULD YOU CHANGE ABOUT LA RINASCENTE? I would definitely put in more unknown brands or brands which are harder to find in Milan so that it attracts the attention of the fashion consumer.

(Interview extract conducted with a female customer outside of La Rinascente, 17th May 2014)

A wider audience needs to be targeted in order for La Rinascente to be able to compete on an international level and deliver than high quality standard of it’s competitors. The fourth needs to be able to offer a diverse group of contemporary designers which currently can’t be found anywhere else in Milan so that La Rinascente becomes the access point for their fans as well as for new consumers to the brand. It also needs to be able to appeal to the tourist demographic so whilst it may still have it’s contemporary edge it still needs to maintain some form of commercial aspects.

The brands which appeal the most on a contemporary level are MSGM, Sandro, Elizabeth & James, Philosophy, Faith Connexion and Alexander Wang. MSGM experienced an extremly quick uprise from it’s start in 2008 with an annual turnover of €10 million in 2012 with an expected growth of up to €30 million by the end of 2014. In 6 years this brand has become one of the biggest contemporary brands to come out of Italy.

David Wu, an analyst for Telsey Advisory Group stated that us as consumers want products of a higher quality that have a more lasting style. Seasonal pieces are no longer a main concern but put togeth and smart statment pieces are ever growing. The US apparel consumption has rise 4.9% to $283.7 billion over the past 3 years and David Wu estimates that the contemporary fashion sector generated between $5 billion and $10 billion in revenue last year. (Masidlover: 2014)

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In Europe contemporary brands have seen growth in recent years fueled by consumers mixing high end labels with budgeted items in their wardrobe. Printemps, the Parisian department store, recently invested in contemporary labels introducing them to it’s Boulevard Haussman store. Part of the success lies in the brands having developed in an entirely new and distinct market. Few garmets made by the middle-range brands boast a “Made in France” or “Made in Italy” label. (Masidlover: 2014) After the hit of recession in 2011 it took a staggering 18 months for european economy to start making progress in order for them to get back to where they once was.

The Growth Domestic Product of Italy and Spain only grew by 0.3% in the final quarter (Thompson: 2014). This kind of economic down fall is what adds pressure on to the idea of luxury labels. With the economy only just starting to make progress it becomes difficult to want to purchase such a high luxury product however that being said the investment is not an issue if you can build strong relationships and trust with the customer with product quality and selection.

With all of these factors playing a role within the buying pattern of consumers La Rinascente needs to offer both quality products which will allow them to build a strong relationship with their consumer. Also they need to offer a range of contemporary lines which can’t be found within Italy making the fourth floor become the epitome of contemporary fashion.

Some of the brands which can be considered are: Alice and Olivia Acne Christophe Lemaire Dion Lee Edun Helmut Lang Iro Kenneth Cole Collection Narcisco Rodriguez Nicolas Taralis Proenza Schouler Rag & Bone Sophie Hulme Thakoon Theory The Kooples Tibi Yang Li 1205 This brand selection shows the best contemporary designers from across the globe whether they’re French, Japanese, American or English. This list encapsulates all the important designers within the contemporary sphere which La Rinascente don’t currently stock however for the brands to become even more exclusive they shouldn’t be stocked within Milan already so that it creates a certain prestige within La Rinascente.

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1205 1205 derived from a need for timeless and utilitarian clothing. The collection features both menswear and womenswear with a strong emphasis on the idea of unisex wardrobe - the intriguing balance between masculinity and femininity.

The colour palette adopts a modern and austere vision with monochromes of greys, blues, blacks and whites. The silhouette embraces designer Paula Gerbase’s tailoring education. Traditional tailoring techniques and cut are fused with the idea of relaxed sensitivity with the use high quality fabrics, offering a wealth of textures from knit jersey and highest quality English woolen mohairs to high-count Swiss cottons and modernist nylons. (1205.com: 2014) The deconstruction of tailored norms creates a collection with a focus on considered design, thoughtful fabric choices, precision and purity.

Currently 1205 has 27 stockists worldwide with 18 of those being in Japan, 2 in London, the stockists in London are there own store on Dover street market and also Browns Fashion.

Finally there is one stockist in Italy which is situated in Brescia. This creates a perfect oppertunity for La Rinascente to be able to acquire the new contemporary brand and introduce it to the shoppers of Milan.

The simplistic tailoring fit’s in with the Fall Winter trends as one of the key trends is all about clean lines and pure fragility and tenderness creating a sleek aesthetic for the season. This collection encapsules all that is clean and simple whilst blurring the barriers between masculinity and femininity whilst still remaining wearable, elegant and sophisticated. The adaption for this allows the customer to break down the look and just look at key pieces such as the jacket or the shirt.

As majority of the customers who pass through the La Rinascente doors are tourists it is a perfect oppetrunity to present something versatile and complimentry of the existing contemporary brands without offering something that current can already be found on the floor or in the competitors stoes.

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NARCISCO RODRIGUEZ Narcisco Rodriguez is on of the foremost American designers during the last two descades and plays a singular role in global fashion. His fashion house is located in New York City which is where he shows his women’s ready-to-wear collections.

Narcisco Rodriguez has stores in the Middle East, Asia, America and also in Europe in Greece, Switzerland, Spain, Turkey and the United Kingdom but isn’t yet stocked in Italy. However Narcsico Rodriguez does offer an e-commerce site with international shipping.

Like IRO his designs are yet to found in a European department store and the exlcusivity or having such an infamous desinger such as Narcisco Rodriguez could bring alot of attention towards the floor specifically if it was in a shop-inshop format

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In his collections he features structured jackets emphasizing the season’s colours.

The thick knits from underneat paired with the sophisticated and simple tailoring portrays the versitality of this collection. The appeal of this can go towards both demographics whilst also fitting in with multiple trends for the Fall Winter season.

Narcisco is also the most expensive of the three brands with prices starting at around €490 and going up to €4100 for jackets and specialty skirts and dresses.

IRO Founded in 2004 by brothers Laurent and Arik Bitton, Parisian brand IRO infuses casual essentials with a contemporary twist. A collision of slouchy shapes, edgy minimalist design and deluxe fabrics form the basis of IRO’s approach.

The company is still new with only limited stockists. They have 21 boutiques worldwide with only 1 in London and 1 in Italy in Rome. Iro also offers e-commerce powered through net-a-porter.com, far-fetch.com and also my-wardrobe.com this allows customers to stay connected with the brand if they don’t have a store near them. (Iro.com: 2014)

The IRO aesthetic fits in with the idea of contemporary fashion on the fourth floor. It appeals not only to the Italian consumer but also the international consumer. It remains as a luxury contemporary brand without being to avant-garde.

The collection ties it’s self in with the sheet trends aswell as texture adding layers within each individual item.

Price for IRO start at €122.00 and go up to €2800.00. The products are of a high quality and therefore again capsulates the idea of well made design. IRO is not yet stocked within department stores so this could be a perfect oppertunity for both La Rinascente and also for IRO as it will help develop their audience further within the luxury field 37

EDUN Edun is a global fashion brand which was founded in 2005 by Ali Hewson and Bono in order to promote trade in Africa by sourcing production through out the continent. In 2009 the LVMH group aquired Edun providing essential support in order for them to fulfill this vision.

Edun is building long-term sustainable growth oppertunities by supporting manufactures, infrastructure and community building initiatives in Africa. They are working towards increasing trade througout the continent with their apparel and accessories business. In Spring 2014 85% of their collection was produced in Sub Saharan in Africa.

(Edun.com: 2014)

The positioning for Edun is luxury with price starting at €240 and then ranging up to €575.

This luxury price point fits in perfectly with the demographic of the contemporary womenswear floor.

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Currently Edun is stocked in 14 countries 5 of which are within Europe in Belgium, France, Switzerland, United Kingdom and Italy where they are stocked Verona and in Alba. They also have e-commerce sites for North America and Europe with limited shipping world wide.

Edun offers the high quality materials and service which the Italian and International clients are searching for. The idea behind the brand is to bring trade to third world contries which compliments the new turn after the recession and how we plan on proceeding, specifically in terms of consumption. You may not want to pay €500 for a bag however when you understand the brand and what it represents it allows customers to know that they’re buying into a future and not just a luxury brand.

Edun Fall Winter also represents the trend of texture and knit with a heavily based collection of wide knits with various textures as well as furs and leather so that it appeals to a wider range.

The proposed strategy for the women’s contemporary floor is to introduce 3 premium luxury and contemporary brands that will be exclusive to La Rinascente and Milan. They currently house brands that can be found throughout Italy and specifically throughout Milan and therefore not creating a specific statement within their department store. If La Rinascente wants to become one of the leading 5-luxury department stores worldwide yet don’t have anything that separates them from the rest.

The three brands that I have chosen will compliment the existing contemporary brands bringing something new to floor without over shadowing or stunting the brands that are currently within this floor. I have chosen not to persue the brand 1205, this is due to the content offer, whilst it remains contemporary the style of this brand doesn’t best fit the target consumer or the style that La Rinascente is offering within the fourth floor. There the brands that I will be persuing within the buying offer are as followed: NARCISCO RODRIGUEZ IRO EDUN

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Capped sleeved mini dress

Seamless A-Line two tone Coat

Sleeveless paneled dress

Shortsleeve three panel top

Sleeveless three tone mini dress

Seamless A-Line Two toned coat

Structured top with silk Leather knee length skirt

Skinny Trouser

Skinny trouser

Peplum Jumper

Colour block blazer Straight leg trouser

Three tone structured top

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V Neck Shift Top

Long Sleeved silk panel top

Silk Skirt

Hourglass sequined paneled dress

Sleeveless metallic fur paneled dress

NARCISCO RODRIGUEZ

FALL WINTER 2014/2015 41

The first brand that I have chosen is Narcisco Rodriguez. Narcisco Rodriguez was established in 2007 showing rapid growth over the past 7 years. Their turnover has doubled from $2.5 million to $5 million in the last two years showing the growth of this company. Currently they do not distribute within Italy and only distribute within Greece, UK, Spain, Switzerland and Turkey (within the UK) therefore if La Rinascente acquired this brand it would be a great asset in order to set them apart from their competitors.

NARCISCO RODRIGUEZ FALL WINTER 2014/2015

Here is a description of the items within this seasons collection, it showcases which categories have more items and also which have more importance/relevance due to the amount of items. The concept behind Narcisco Rodriguez within La Rinascente is to feature it within racks, this would allow them to be introduced into Italy and into La Rinascente as an inital start off with the possibility to grow after. Due to them not yet being stocked in Italy it is risky to initially start them off on a bigger format, this concept allows them to bring over key items and main selections within their collection in order to impress and wow the customers.

All items which are being bought have been marked.

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Patterned jumper

Full Look

Straight leg trouser

Tailored Short

Woolen biker jacket

Patterned jumper

Wool structured collar coat

Rounded Hem shirt

Woolen bomber jacket

Mesh detail T-shirt

Rounded hem shirt

Metallic skinny jean

Embossed detail sweater

Sheer paneled jumper

Leather Biker Jacket

Sleeveless leather jacket

IRO

FALL WINTER 2014/2015 43

The second designer that I have chosen within the assortment is IRO; they are a contemporary brand featuring a fusion of New York and Parisian style that currently cannot be found within the assortment mix at La Rinascente. The brand was launched in 2004 and is currently only stocked in Rome within Italy therefore by bringing it to La Rinascente it can offer an extent of exclusivity within Milan as it can’t be purchased anywhere else. (IRO: 2014) Below is the assortment mix that can be found within their FW14 collection. The idea is to have assigned racks within the first half of (the contemporary section) of La Rinascente, the reasoning for this is because it will offer this new style to Milan which currently can’t be found however a shop-in-shop may be too much space. Racks will offer an ideal space for the brand to get showcased correctly and therefore allowing it to properly present its best assets within the store.

IRO PRE FALL WINTER 2014/2015

All items which are being bought have been marked.

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EDUN

FALL WINTER 2014/2015

Woolen Striped long coat

Wide Legged Striped trouser

Full look

Contrast panel jacket

Full look

Wide Legged trouser

Woolen skirt

Collared long length brushed velvet

Thick Collared pocketed knit dress

Three quarter sleeve fur dress

Patchwork woolen dress

Polo neck top

Polo Neck Top

Fluffy high neck dress

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Synched neck jumper

Square cut out detail skirt

Textured leather jacket

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Textured belted coat

The final brand that I want to bring to La Rinascente is EDUN, launched in 2005 this brand has gained recognition due to its promotion of trade in Africa by sourcing all it’s production throughout the continent. In 2009 the brand was acquired by the LVMH where they have offered full creative support (EDUN: 2014). Currently Edun is only stocked in Verona therefore bringing the same element of exclusivity that the previous two brands offer. Also within the current brand selection on there fourth floor there aren’t any brands offering the same mission and the same brand values as this therefore could potentially bring a new type of customer to the store.

EDUN FALL WINTER 2014/2015

Above you can find the details of the assortment mix within the FW collection. Again the aim is to assign a specific amount of racks for this brand, whilst being innovative within its design process it’s still a new brand. To offer it a select amount of rails within the contemporary section of this floor would showcase their key items perfectly.

All items which are being bought have been marked.

Each one of these brands brings a new aesthetic to the store that currently can’t be found within the assortment mix. They offer something which is different yet complimentary to the existing brands.

In order to bring these into the store I want to remove 3 of the existing rail or racks of brands which they offer. These will be Ostwald Helgason, E.vil and La Petite Robe. The reasoning behind this as these are three brands that aren’t complimentary of the luxury and contemporary feel of this floor.

They don’t offer something that can’t already be found within the store. The three brands don’t represent the high fashion content which the rest of the designers offer nor do they offer the contempeorary aesthetic either so therefore I feel it makes sense for Narcisco Rodriguez, IRO and EDUN to replace these three allowing them to bring something new and exclusive to the floor.

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Above you can see the buying assortment for the four brands that I plan on introducing into the fourth floor.

Narcisco Rodroguez main focus within the collection was on the Dresses and the Jackets with these being the most statement pieces. I therefore felt that out of the allocation for this set up it would be best to highlight this within their selection. With it being the first time that they will have been introduced it would be good to continue their brand aesthetic in order to allow the customers of La Rinascente to understand who they are and their style.

The second brand is IRO with 33% of the budget going on this. They will feature the collection of rails for their assortment. They currently have a lot of stockist’s wihin the Asian market again appealing to the La Rinascente audience but yet allowing them to grow within the European market therefore La Rinascenre will be an ideal location for them. Their main focus within the collection were jackets, tops and trousers so I want to bring over their signature items in order to be able to introduce the brand properly within the Milan market and amongst the Milan shopper.

The final brand is EDUN that was hold 18% of the budget. The reasoning behind this is so that they can slowly be introduced within the store allowing them to have room to grow, the style for Edun focuses heavily on knitwear, whether that’s dresses, tops or jumpers. Also within their Fall Winter collection was a lot of patterned pieces that could be hard to translate fully within the store however by bringing their icon items and must haves for the season it would draw attention to them. As you can see from the buying assortment the budget focus will go towards the items that are heavily featured in their collection. The wearability for this collection can be transferred from customer to customer with them offering select pieces that can’t be found or replicated elsewhere.

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Navy

The sizing for each brand has been divided between sizes 34, 36, 38, 40, 42 and 44 this is due to them being the sizes which can consistently found within the current selection of the floor. With them being contemporary designers generally the appeal is to a slightly younger, more fashion aware, consumer. Specifically the focus tends to be between sizes 36-42 which is something that I have considered within the allocation.

Each brand has had a multiplier of 2.5 added to the wholesale price due to the current mark ups which can be found within fashion retail and buying.

NARCISCO RODRIGUEZ The whole sale price of the garments for Narcisco Rodriguez is higher than that of EDUN and IRO therefore a larger amount of the budget is allocated to this brand. This is so that we can properly introduce the brand and bring over their seasonal pieces and icon items from the collection. The collection is based around alot of jackets, coats and dresses therefore the allocation of these items is higher than the rest. The majority of these pieces also fall strictly within season pieces rather than carry over, the same applies to the tops. Whilst these items will still sell the sizes will fall strictly within the smaller sizes due to the fitting of these with the bigger sizes such as 42 and 46 having pieces bought for the items such as jackets and trousers.

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IRO Similar to Narcisco Rodriguez the main focus is jackets and coats followed by tops. The jackets which they have featured very specific cuts and shapes yet remain in the traditional Fall/Winter fabrics and colours of wool and leather with shades of black grey and beige. For this reason the selection within the buying focuses on these key items. Jumpers and tops are also a main focus in this again with limited patterns however new cuts and simple lines which can appeal to a wider audience. Alot more of these items allow for them to be carried over because they are a simple design with a much more interesting and contemporary cut and shape.

The quantity of sizing bought for this again are between 1-2 per size with occasional pieces going up to 3 if it is a more classic piece or a piece which could be more versatile within the floor. Due to the fact the consumer of this floor is a younger more fashion aware consumer, this kind of style could appeal more.

EDUN The main focus within EDUN’s collection focuses on the knitwear and knit dresses. This style of thicker dress and knitted style content is set to be a bigger trend this season with a lot more runway collections therefore allows La Rinascente to offer this trend and style content with a new brand which currently can’t be found elsewhere. They also offer some fine knit polo necks which could be considered as a carry over item, on the runway these were featured underneath the knit dresses creating a whole look, this is to be considered when purchasing these items as perhaps this is a full look which more people may want to purchase.

In addition to this the sizes that are bought fall between 36, 38 and 40 and this is due to the oversized appeal of alot of the garments, particularly the knit dresses. This will allow more people to buy a size smaller than usual and still allow the garmet to appeal to a larger audience.

The total budget for the proposed three brands is €83,000 and is split with Narcisco Rodriguez having 49%, IRO having 33% and EDUN having the remaining 18%. This is due to their price range, each brand differs and Narcisco Rodriguez is the most expensive of the three followed by IRO and EDUN, whilst the amount of items bought between them all doesn’t vary much the investment within this differs drastically by around €10,000 each time. From this we have the Open To Buy which is €12,450.00 - this allows us to have an amount set aside for those pieces that maybe will sell out quicker than expected or maybe will be purchased more than expected so that we can therefore rebuy or repurchase if needed.

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Navy

Here is the generated sales forcast for the amount of products which will be sold at 100%, as you can see not all products will sell at full price due to some of these being seasonal and some being down to a particular taste but the aim is to sell atleast 50% of the offering at 100% so that we can generate a profit and growth without loosing anything off of the wholesale price. As you can see this varies from brand and catergory with certain items selling more than half and others slightly less but again this varies depending on style. The whole salesforecast is based on a six month period therefore allowing us to get a good read on what does and doesn’t work and hopefully be able to make an informed decision. Whilst this is just a prediction we cannot guarentee the sales but by under estimating certain items it allows us to give ourselves a good selection or products to fall back on.

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Navy

Here is the generated sales forcast for the amount of products which will be sold at a discounted price, initially it will have a mark down of 15%, this is for a promotional sale that can happen within season. Alot of department stores often do discounted items within season, whether thats as it goes towards the end of the season or just on specific items. This will allow us to sell those items which might not be able to sold at full price. For certain items the additonals may be purchased at this price and this could be due the the fact that people may have been hesitant in the first place and with this initial discount could therefore trigger the customer to buy these items. The numbers have been judged again on what is a seasonal piece or something which is a carry-over item or a piece which can be considered more transitional than others. For example the hero and icon pieces will hopefully have a larger majority sold at 100% however thoses that aren’t will be sold at a discounted price.

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Navy

This final forecast showcases the sales that will be generated with a further discount than before of 30%, the reasoning behind this is because the three designers which have been proposed currently don’t offer their items at a discount much lower than this. This also offers a further incentive than the 15% hopefully allowing people to purchase what is remaining without too much loss.

The end three columns focus on the total percentage of each catergory which has sold, including the discounted sales. The aim is to sell atleast 85-95% of the stock with the remainder being unsold with the possibility for it to be bought by outlets or back by the brand. You can also see the total profit of each catergory and product and then the total profit of each brand. As you can see in all catergories and all brands a profit has been made which is good especially within time brand in a department store. This allows them to be persued further within the department store and clearly show that they are a good investment for the store and for the fourth floor.

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LIST OF ILLUSTRATIONS La Rinascente, Instagram, (2014). La Rinascente Instagram. [image] Available at: http://instagram.com/la_rinascente [Accessed 14 May. 2014].

La Rinascente, Twitter, (2014). La Rinascente Twitter Page. [image] Available at: https://twitter.com/laRinascente [Accessed 14 May. 2014].

McGowan, R. (2014). Duomo. [image].

Roncarà, M. (2013). La Rinascente. [image] Available at: Milano [Accessed 21 May. 2014].

Style.com, (2014). Acne Studios Fall Winter 2014. [image] Available at: http://www.style.com/fashionshows/review/ F2014RTW-ACNE [Accessed 21 May. 2014].

Style.com, (2014). Calvin Klein Fall Winter 2015. [image] Available at: http://www.style.com/fashionshows/review/ F2014RTW-CKLEIN/ [Accessed 21 May. 2014].

Style.com, (2014). Donna Karen Fall Winter 2014. [image] Available at: http://www.style.com/fashionshows/review/ F2014RTW-DKARAN/ [Accessed 22 May. 2014].

Style.com, (2014). Edun Fall Winter 2014. [image] Available at: http://www.style.com/fashionshows/review/F2014RTWEDUN/ [Accessed 21 May. 2014].

Style.com, (2014). Emporio Armani Fall Winter 2014. [image] Available at: http://www.style.com/fashionshows/review/ F2014RTW-EARMANI/ [Accessed 23 May. 2014].

Style.com, (2014). Fendi Fall Winter 2014. [image] Available at: http://www.style.com/fashionshows/review/ F2014RTW-FENDI/ [Accessed 22 May. 2014].

Style.com, (2014). Hermès Fall Winter 2014. [image] Available at: http://www.style.com/fashionshows/review/ F2014RTW-HERMES/ [Accessed 21 May. 2014].

Style.com, (2014). Maison Martin Margiela Fall Winter 2014. [image] Available at: http://www.style.com/fashionshows/ review/F2014RTW-MMARGIEL/ [Accessed 21 May. 2014].

Style.com, (2014). Marc Jacobs Fall Winter 2014. [image] Available at: http://www.style.com/fashionshows/review/ F2014RTW-MJACOBS/ [Accessed 21 May. 2014].

Style.com, (2014). Michael Kors Fall Winter 2014. [image] Available at: http://www.style.com/fashionshows/review/ F2014RTW-MKORS/ [Accessed 21 May. 2014].

Style.com, (2014). Narcisco Rodriguez. [image] Available at: http://www.style.com/fashionshows/review/ F2014RTW-NRODRIGU/ [Accessed 28 May. 2014].

Style.com, (2014). Nina Ricci Fall Winter 2014. [image] Available at: http://www.style.com/fashionshows/review/ F2014RTW-NRICCI/ [Accessed 23 May. 2014].

Style.com, (2014). No 21 Fall Winter 2014. [image] Available at: http://www.style.com/fashionshows/review/F2014RTWNO21/ [Accessed 22 May. 2014].

Style.com, (2014). Rag & Bone Fall Winter 2014. [image] Available at: http://www.style.com/fashionshows/review/ F2014RTW-RBONE/ [Accessed 21 May. 2014].

Style.com, (2014). Sacai Fall Winter 2014. [image] Available at: http://www.style.com/fashionshows/review/F2014RTWSACAI/ [Accessed 22 May. 2014].

Vogue.it, (2014). Iro Pre Fall 2014. [image] Available at: http://www.vogue.it/en/shows/show/pre-fall-2014-15/iro/collection/622855 [Accessed 24 May. 2014].

Vogue.com, (2014). 1205 Fall Winter 2014. [image] Available at: http://www.vogue.co.uk/fashion/autumn-winter-2014/ ready-to-wear/1205/full-length-photos/gallery/1123046 [Accessed 28 May. 2014].

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Created & Edited by Rachael McGowan All Images are credited to Author as well as any primary research.

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