A project by Karen Castaneda, Priscila Rebequi, Nariman Abdullah, Fernando Bello and Tarkan Ertan. BFM CLASS 1B - IFA Paris, FRANCE. 17/01/2020
2
BIOGRAPHY - NICK KNIGHT Nick Knight was born in 1958 in London. He grew up in a family with no artistic influences. Despite this, he decided to follow his passion and studied photography. Knight studied photography at Bournemouth & Poole College of Art and Design. In 1982 he graduated with honours. The same year, his first book of photographs, Skinheads, was published and after that he started to be recognised. Currently, Knight is one of the most i n fl u e n t i a l a n d v i s i o n a r y f a s h i o n photographers.
COLLABORATIONS
WHAT MAKES NICK KNIGHT SO UNIQUE? •His photos seem to have been taken in the future •Nick Knight is not afraid of trying something different •He use Instagram as a way to attract people and express his art •Knight likes to explore different social issues and express them on his photographs.
•He has shot advertising campaigns for Louis Vuitton, Calvin Klein, Yves Saint Laurent, Christian Dior, Westwood and Alexander McQueen.
•He has also shot record covers for musicians like David Bowie and George Michael.
INTERNAL : BRAND PROFILE AND TARGET CUSTOMER
PROFILE Headquar ters and main warehouse : Switzerland Stores: Online and 2 Physical Stores in London (Knightsbridge and Carnaby)
MISSION “To lead the winter luxury apparel market worldwide, always bringing innovation and supporting creative minds.”
Showroom : twice a year(FW) in Paris and London. Production: Turkey (Shirts, Trousers, blazers and T-shirts) London Knightsbridge Store (Coats and harnesses) and Switzerland Atelier in the headquarters (Coats and harnesses) Social medias : Mainly instagram, facebook and twitter.
TAGLINE ‘ I t ’ s a l w ay s w i n t e r somewhere in the world.”
IDENTITY B r i t i s h heritage,Futuristic, artistic/conceptual, gender fluid, young (in age or heart). KBNK prints. Clothes for cold weather.
PRODUCTS
KEYWORDS
Artistic Avant Garde Futuristic Conceptual Gender fluidity Eco Friendly
Pret-a-porter. Unisex. Mainly coats but also blazers, trousers, shirts, belts and harnesses.
TARGET CUSTOMER 25 to 45 years old. Wealthy. Lives or likes to be around Chelsea, Sloan Square, Kensington or around those areas. Artistic, adventurous, loves London, loves going to museums and live concerts. He or she is interested in making the planet a better place and embraces new ideas that might help with that. Knows a lot about technology, might work with apps‌ Or maybe he or she is an architect‌ Our customer loves creating! Single, open minded with a positive mind and attitude.
IDENTITY
PRODUCTS: DESIGN AND PRICES
AVAILABLE IN STORE AND ONLINE
£ 4,700.00
£ 5,200.00
£ 3,150.00
COATS
High quality materials. Classic style with a moder n touch in the choice of colours and details. All coats have the option of 2 dif ferent utility harness (Black or Tan UPCYCLED Leather)
UTILITY HARNESS Each harness comes with 3 pouches (according to the colour of the harness : black or tan UPCYCLED leather). The wide pouch in the middle and the 2 small ones on the sides.
ART
In the inside of the coats there be will a picture by Nick Knight printed.
The pouches can be REMOVED and replaced with the customer’s DLSR cameras if the customer’s wishes.
PS. Only 5 of each coat (according to design and different colours) will be sent to each store (Knightsbridge and Carnaby) and 10 of each will be made available online for the whole world to buy. It will be the work of artisans.
ONLINE EXCLUSIVE
£ 4,500.00
COATS
CAMERA STRAP
Online exclusive coats with the brands slogan and collection name embroidered on the back. Option of 2 colours.
Each coat comes with a camera strap (5 colours available) that serves as a belt too.
In the inside of the coats there will be the KBNK print.
AVAILABLE IN STORE AND ONLINE
£ 200
£ 350
T-SHIRTS We have 2 different designs of T-shirts. This products are directed more to the masses, considering it is our cheapest products. The statement T-shirt will be mainly used to spread the word about us out while planting a psychological seed inside peoples mind making them desire our products above every other product using the slogan “GO KNIGHT OR GO NAKED�
£ 1,300.00
£600.00
£450.00
SUITS
3 colours (Black, Navy blue and light grey) Blazer and suit sold separately.
DRESS SHIRTS
2 colours (black and white)
SWOT ANALYSIS
SWOT STRENGTH • We l l
WEAKNESS
known, brand
name • Unique style •C o n n e c t i o n w i t h celebrities • Product quality • Use of latest technology • Constantly moving • SHOWstudio • Technical & creative boundaries
• Low
number of directly operated stores • Limited amount of staff • New in the ready to wear business • High advertising budget in order to kickstart the brand
SWOT OPPORTUNITIES
• New
in the business (fresh) • Opportunity to bring something new • Opportunity o bring artists together with possible collaborations • Opportunity to create a positive impact in the fashion world.
THREATS
• Strong competitors • Fast fashion companies
that might copy the brand • Brexit and general Importing and exporting laws around the world
MARKETING MIX
PRODUCT • Unisex • Sustainable
Cotton and minimal waste in fabric. • Upcycled Leather • Main items are Coats, but the brand also does blazers, trousers, shirts and t-shirts.. • Some online exclusive products • Black and white dress shirts • Suits • T-shir ts (Basic and statement) • High quality packaging and labels
PLACE
Knightsbridge Branch with an atelier in the basement floor. 1,313 sq ft total 591 sq ft ground floor 722 sq ft basement Place was already a store and only needs minor renovations. The Knightsbridge branch is strategically located surrounded by the boroughs of Belgravia, Chelsea and Kensington. It is in a very prime location where our targeted customers lives and shops. Famous department store Harrods is juts a couple of minutes (walking distance) away.
PLACE
Carnaby Branch with a venue for events/bar in the basement floor. Located in the very centre of London. A couple of minutes away from Regent’s Street. This branch will not only be used to spread the brand to the masses (targeting the sales of our statement t-shirts) but will also be the venue for the many events that will occur in the basement bar. In these events the brand will not only promote itself and its products but will also promote new artists and support the Photographers and Artists association charity by donating 10% of the event ticket sales.
PROMOTION
• Online (social media) • Statement T-shirt
(celebrity
endorsement) • Advertisement at Chelsea and Kensington and also underground stations.
PROMOTION Celebrities (actors, s i n ge r s , i n fl u e n c e r s , footballers…) Wearing the statement T-Shirt to create a buzz. COLLECTION LAUNCH
2 MONTHS BEFORE LAUNCH
COATS exposed as piece of art in art galleries (mainly SHOWstudio)
FULL POWER on the social medias e n g a ge m e n t a n d advertising.
PRICE
• KBNK
is a luxury brand that targets the upperclass. • Our cheapest product costs 200£ while our most expensive product costs 5,200£ • O u r p r i c e s a r e c o mp e t i t i ve compared to the prices of our direct competitors.
COMPETITORS ANALYSIS
EXCLUSIVITY
MASS MARKET
££££
££
COMPETITOR ANALYSIS
Our main competitors are the ones within the reach of the circles. And the brands inside the square are not direct competitors but they do represent a huge threat since their products are cheaper and they can copy some of the brands products.
EXTERNAL ANALYSIS
PESTEL
The brand of Nick Knight is being build in a modern environment taking into consideration every factor of modern society. Political factors and political movements such as the Brexit and how it will regard the brands situation and success. Economical factors to help change the eco system by not harming it further but to finding a way to make fashion more ecological by not polluting the environment and reusing materials. Social changes and social correctness like gender equality disregard of sexual orientation. Also societal critical to not commercialise in a way it would harm the society but to finding a way to actually give values toward society. Technological innovations to push boundaries of what fashion is and what fashion could be. The environment which will play a major role in defining the brand and placing the brand within the environment that is currently existent and possibly changing this environment. And the legal situation of the brand taking into consideration every aspect of selling managing importing manufacturing and taxing.
PESTEL POLITICAL
The brand will be based in Switzerland where it will have its headquarters as well as head of management together with every part of the Bureaucratic and legal aspect of the company. The Brand identity is quintessential British connecting the world of fashion with the world of art. Britain has a long lasting history of fashion and art and this company will be a reinterpretation and a contemporary expression of this new Art of Fashion and Fashion of Art. The current political situation is stable regarding Europe but Britain has voted to leave the EU otherwise known as Brexit which will ultimately effect the brand in several ways. The political effect on the brand could have a positive outcome because the Brexit would make the identity of Britain stronger which will be an advantage for the brand since we choose to identify ourselves with this identity. We are a world minded company with the goal of spreading the concept all over the world this is why we will not over do the british patriarchy but leave a hint of heritage within the DNA of the brand. The political situation could also ultimately effect the sales but since the concept is very limited and exclusive there will be no limitation. There is no set date to the Brexit yet but it will regardless of it existence not effect the actual possibility of trade because Britain would not loose its economical strength and restrict trade toward europe.
PESTEL
ECONOMICAL
We live in an economy of ultra high net worth individuals the disposable income and the wealth of the upper class is constantly rising which makes an advantage to luxury brand because this is the customer target. The economy is constantly growing but we choose to not commercialise in a way of mass predicament instead the concept will be producing limited amount to keep exclusivity and to be able to sell most of the manufactured clothes to have very little dead stock. Further more ecological awareness which is part of economy is very imprint for the company as we will epicycle most of the leather and fabrics not not harm the environment but to improve ecological friendly producing of garments. Regarding the Brexit there might be some form of inflation which is unpredictable for now but in this level of Tier it will have very little effect on the outcome. Businesses are striving more than ever but there is a need for individuality and creativity which we will satisfy. Furthermore there is a lot of opportunity within the growing economy.
PESTEL
SOCIAL The population is constantly rising the digitalisation has changed the societies view on life and continues to do so. We take these factors into consideration to find the right concept for current needs within society and to understand consumers behaviour in the modern society. There is a huge amount of people living longer because of recent health conscious trends such as veganism. The attitude toward carrier in todays society is to find fulfilment rather than working toward pension like 70 years ago. Within the society there is a need for this meaning and to be more aware to distribute to society with creativity and innovation which will be our main goal with this company. The goals of starting a creative movement that will give society a meaning and fulfilment it is desperately searching for. The consumers behaviour has changed through digitalisation but we do not focus on mass production and mass commercialisation but for individuality and exclusivity which are both important things in the modern young individual. The brand has also partnered up with the Photographers Association committing itself to relocating 10% of all income from the events in the Carnaby store to the Artists Charity in order to support new artists in the UK. The brand has also installed contactless card machines in strategical places in our stores to promote donations.
PESTEL
TECHNOLOGICAL
Within fashion there is always a constant wave of innovation to be able to produce more efficiently and eco friendly. Also to have advantages to the wearer of a garment. We choose to find new ways of producing goods by recycling and up cycling fabrics to have a more ecological outcome and we search for new technologies to do so. The distribution innovation will also make a technological evolution by changing the way we receive orders or create experience with these orders to effect consumers behaviour. Also new ways of communicating with the customers are technological evolutions by creating a platform connecting social media art and fashion to find the right target group and also change the way we perceive shopping.
PESTEL
ENVIRONMENTAL
The society is becoming hyper aware of environmental factors such as pollution carbon footprint sustainability and ethics. We as well are hyper aware of all the issues and are finding ways to produce sustainable by cycling recycling and through innovation make the process of producing itself more eco friendly. This is by not mass producing by being able to choose for the best way to produce in an sustainable matter and to simply be aware of the fact that we shall not harm this planet. Ethics now also play a big role in consumers behaviour because the consumer that is buying at a higher tier want ethically produced garments with no child labouring or under paid wages. By being aware if these issues it is possible to change the way we produce and that is by limiting production and restricting this production to the most sustainable possible way. At the same time we will do actions like planting a tree for every coat bought within the store .This is not only to convince the consumer psychologically but also to make an actual difference to be a role model for future generation since we are the newest generation of luxury fashion companies.
PESTEL
LEGAL The legal legislation changes within every country. The brand will be based in Switzerland as a safe ground of economical growth and security. This will be due to the fact that all tax will be paid in Switzerland as well as all legal responsibility and accounting will be held in the headquarters in Zurich. The company will follow all legal legislation regarding trades and commerce
BUDGET STRATEGY
Budgeting and strategic planning is crucial to the brand’s success and profit. We use specific tools to make our budget strategy more effective • Using technology to coordinate and consolidate the budgeting efforts with other team members. • Creating a budget that reflects the organisation’s strategic plan for the company. • Engaging the team in reviewing the budget in order to highlight strengths and weaknesses. Budget is a tool that translates the organisation’s goals and strategies into money. It is a plan and when developed properly it provides opportunities to work closer with the team to keep the organisation on track.
FIXED COSTS PER MONTH RENT STORE/OFFICE/WAREHOUSE/ WEBSITE AND E-STORE
Amount (Utility bills included)
KNIGHTSBRIDGE
£11,796.00
CARNABY
£3,870.00
ZURICH (OFFICES)
£1,208
LONDON WAREHOUSE
£3,100.00
ZURICH WAREHOUSE
£2,940.00
WEBSITE/E-STORE
£35.00
TOTAL
£22,949.00
FIXED COSTS PER MONTH SALARIES
STORE/OFFICE/WAREHOUSE
Amount
KNIGHTSBRIDGE
£9,700.00
CARNABY
£4,700.00
ZURICH (OFFICES)
£43,200.00
LONDON WAREHOUSE
£4,200.00
ZURICH WAREHOUSE
£7,800.00
TOTAL
£69,600.00
PRODUCTION COSTS PER PRODUCT / FIXED PRICE PER MONTH STORE/OFFICE/ WAREHOUSE
PER PIECE (With shipping already divided into pieces and calculated)
PPIECES PER MONTH
COST PER MONTH
COATS
£418.50
25
10,462.50
HARNESSES
£101.50
12
1,218.00
T-SHIRTS
£21.50
800
17,200.00
SHIRTS
£45.50
20
910.00
BLAZERS
£50.50
20
1,010.00
TROUSERS
£53.50
20
1,070.00
£14.00
860
£12,040.00
FACTORY LABOUR COST ARTISANS (LONDON) ARTISANS (ZURICH) TOTAL
6,000.00 7,000.00 55,692.50
FIXED COSTS PER MONTH
ADVERTISEMENT : £55,000.00
FIXED MONTHLY EXPENSES GRAND TOTAL : £203,241.50 The brand will need to make sales of the equivalent of 36 to 37 coats (of the most expensive one) in order to cover these expenses and then sell more products to start making profits. Coat selling target for Knightsbridge branch: 5x 4,700.00 = 23,500.00 5x 3,150.00 = 15,750.00 5x 5,500.00 = 27,500.00 TOTAL TARGET : 66,750.00 Coat selling target for Carnaby branch:
3x 4,700.00 = 14,100.00 3x 3,150.00 = 9,450.00 2x 5,500.00 = 11,000.00 TOTAL TARGET : 34,550.00
Coat selling target for Online Store branch:
5x 4,700.00 = 23,500.00 5x 3,150.00 = 15,750.00 5x 5,500.00 = 27,500.00 10x 4,500.00 = 45,000.00 TOTAL TARGET : 111,750.00
COAT SELLING TARGET GRAND TOTAL : £213,050.00
If monthly target is beaten there will be a profit of 9,808.50 per month and 117,702.00 per year just with the sales of COATS alone. Putting together with the target sales for the other products it can be calculated up to (t-shirts) 440,000.00 + (blazers) 26,000.00 + (trousers) 12,000.00 + (dress shirt) 9,000.00 + (harness) 6,000.00 = 493,000.00 + (coats) 9,808.50 = 502,808.50 Per year : ÂŁ 6,033,702.00 - 26,761.00 (Showrooms and Pop up store) = 6,006,941.00 (profits per year)
ALL TARGETS ARE PLANNED TO DOUBLE WITHIN 2 YEARS
FIXED COSTS PER YEAR
SHOWROOM/POP UP STORE
Amount per day (Salaries included)
DAYS
LONDON
£1,980.00
7
PARIS
£1043.00
7
PARIS (POP UP STORE)
£800.00
7
TOTAL
26,761.00
FUTURE PLANS
IN 2 YEARS TIME All targets will be doubled and the preparations for new products such as footwear and bags will commence besides the preparation for spring and summer collection. By the second year the brand will open 5 more stores across the UK and 2 more in Europe.
IN 5 YEARS TIME The brand will already have footwear and bags.The brand will have 15 stores in Europe, 5 stores in North America and 2 in South America.
6 YEARS AND OVER The brand will definitely be achieving the goal of being one of the leaders in the winter luxury products market while being an example of a great eco friendly company. Sales will keep on growing, allowing the brand to have the condition to open more stores every year and by doing so the brand will also create a good social impact by creating more jobs and contributing to the financial growth worldwide. And all that while still being committed to supporting the growth of aspiring artists.
REFERENCES AND EVIDENCES
Competitors • https://www.dior.com/fr_fr/products/couture-013C302A3225_C900-manteau-croise-en-drap-de-cachemire-noir-avec-patte-de-boutonnage-a-logo-dior
• https://www.brioni.com/fr/shop-product/homme/manteau_cod49509778nl.html
• https://www.chanel.com/en_WW/fashion/p/rtw/19K-podium/look-003.html
• https://www.celine.com/fr-fr/.-laine-melton-2M224905E.38NO.46.html? gclid=CjwKCAiAx_DwBRAfEiwA3vwZYpzjpdgiaBzfbnopPjsyItPm3qkkkX2ExRKyZmk3r9L2uhedsFZ_XxoCiLUQAvD_BwE
• https://www.celine.com/fr-fr/chesterfield-a-fermeture-croisee-en-caban-cachemire-2M024943C.38NO.52.html? gclid=CjwKCAiAx_DwBRAfEiwA3vwZYp7HeaCwB_5PT13kwfHox0YcPDW7IPVXsbkNxiH4HiS49M8I8iT-axoCx4UQAvD_BwE
• https://fr.louisvuitton.com/fra-fr/produits/manteau-multipoche-sb-nvprod1520016v
• https://fr.louisvuitton.com/fra-fr/produits/manteau-a-motif-pied-de-poule-africa-nvprod1630249v
• https://fr.louisvuitton.com/fra-fr/produits/trench-plisse-en-cuir-nvprod1630273v
• https://fr.louisvuitton.com/fra-fr/produits/manteau-portefeuille-nvprod1130150v
• https://www.balenciaga.com/fr/manteaux_cod41922398xf.html#/fr/femme/manteaux
• https://www.balenciaga.com/fr/manteaux_cod41922379iu.html#/fr/homme/manteaux
• https://www.balenciaga.com/fr/manteaux_cod41878489ae.html#/fr/homme/manteaux
• https://www.fendi.com/fr/homme/prêt-à-porter/manteaux-et-vestes/p-FF0109AANZF0QA1
• https://www.fendi.com/fr/homme/prêt-à-porter/manteaux-et-vestes/p-FF0284A9B0F0QA1
• https://www.fendi.com/fr/femme/prêt-à-porter/manteaux-et-vestes/p-FF8656W18F0GME
• https://www.fendi.com/fr/femme/prêt-à-porter/manteaux-et-vestes/p-FF8597A3MWF0GME
• https://www.alexandermcqueen.com/fr/alexandermcqueen/manteau_cod41931106cx.html#dept=mtrwr
• https://www.alexandermcqueen.com/fr/alexandermcqueen/manteau_cod41931097aa.html#dept=mtrwr
• https://www.givenchy.com/fr/fr/manteau-en-laine-et-cachemire-a-boutons-4g/BMC03H1084-001.html?cgid=COATS_M#start=1
• https://www.givenchy.com/fr/fr/trench-a-boutons-4g-et-details-contrastes/BW008111UD-250.html?cgid=COATS_W#start=1
• https://www.stylight.fr/Off-White/?tag=10411
• https://www.rickowens.eu/it/FR/search?gclid=CjwKCAiAx_DwBRAfEiwA3vwZYqEE6TNxcmjoH__5MKZRI_CG499l8dK6sdvwwoVQlbhr9TxgJuy3BoCUa8QAvD_BwE&gender=men&new_arrivals=true
• https://www.tmlewinshirts.eu/coats/?lang=en
• https://www.marksandspencer.com/l/men/coats-and-casual-jackets#intid=gnav_men_clothing_coats%20%26%20jackets?scroll=65
• https://www.hugoboss.com/fr/manteau-regular-fit-en-laine-vierge-et-cachemire/hbeu50412527_402.html?cgid=62120
• https://www.ralphlauren.fr/en/men/clothing/coats-jackets/10205?webcat=men%7Cclothing%7CCoats%20%26%20Jackets
• https://www.burton.fr/homme/collection/manteaux-parkas.html
• https://www.zara.com/fr/en/woman-outerwear-l1184.html?v1=1419884
• https://www.zara.com/fr/en/man-outerwear-l715.html?v1=1420520
• https://www.tomford.com/men/ready-to-wear/outerwear/#prefn1=productType&prefv1=LONG%20COATS%7CSHORT%20COATS
• Mission and Vision • http://officemagazine.net/alyx-x-nick-knight?page=3 • Brand Identity • https://www.wonderlandmagazine.com/2017/10/16/nick-knight-x-showstudio/ • https://www.creativereview.co.uk/showstudio-launches-fashion-illustration-pop-shop-london/ • https://www.flickr.com/photos/80497449@N04/7377899512 • https://www.zoemagazine.net/69144-nick-knight-wins-isabella-blow-award-for-fashion-creator/ • https://www.standard.co.uk/fashion/a-definitive-guide-to-the-harness-trend-a4082311.html • Product • https://www.amazon.co.uk/Loome-Harris-Tarbet-Herringbone-Fabric/dp/B07NDJDGH3 • https://harristweedhebrides.myshopify.com/products/hb-w-cr • https://www.artrabbit.com/events/nick-knight-roses • https://www.joann.com/on/demandware.static/-/Sites-joann-product-catalog/default/dw6d01ee2b/images/hi-res/10/10492148.jpg • Location - London Stores • https://www.zoopla.co.uk/to-rent/commercial/details/52401285?search_identifier=f397ab69a8909793f09d94b76ba50e42 • https://www.zoopla.co.uk/to-rent/commercial/details/45317402?search_identifier=f397ab69a8909793f09d94b76ba50e42 • https://www.appearhere.co.uk/spaces/search?
q=Knightsbridge%2C%20London%2C%20UK&destination_id=&place_id=ChIJSXdyLEcFdkgRnABwROMM4MY&start_date=2020-02-01 &end_date=2020-05-01&duration[name]=upto_three_months&duration[maxDuration]=90&duration[highValue]=false&search_id=myz 645sd9kd&page=1&type=space • Location - Paris Showroom • https://www.appearhere.co.uk/spaces/search? q=Paris%2C%20France&destination_id=&place_id=ChIJD7fiBh9u5kcRYJSMaMOCCwQ&start_date=2020-02-01&end_date=2020-05-01 &duration[name]=upto_three_months&duration[maxDuration]=90&duration[highValue]=false&search_id=xcrzjxaq4t8&page=1&type= space • Location - Switzerland HeadOficce • Biography • https://www.vogue.co.uk/article/nick-knight-biography • https://www.nickknight.com/about • https://www.famousphotographers.net/nick-knight • https://showstudio.com/contributors/nick_knight