ZACHARY BLAKE

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CONCEPT BY

Seth Mark Fashion Marketing & Management Savannah College of Ar t and Design WITH SUPPORT FROM

Pa t t i Ta y l o r a n d A l e s s a n d r o C a n n a t a

ZACHARY BLAKE BOUTIQUE FOR MEN

Zachary Blake is a boutique catering specifically to men with carefully curated merchandise that enhances the retail experience. The ultimate goal is to create a space that intrigues then exceeds the expectations of customers in an environment that promotes inspiration and relaxation.

CONTENTS EXECUTIVE SUMMARY

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COMPETITORS

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DEMOGRAPHICS

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THE STORE

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PRODUCT

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PROMOTION

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OPERATIONS

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FINANCIAL PLAN

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CONCLUSION

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APPENDIX DEMOGRAPHIC INFO

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ASSORTMENT PLAN

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SALES PLANNING

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WORKS CITED

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Executive Summary

E X E CU T IV E I am creating Zachary Blake, an innovative retail space for men as a result of researching men’s stores around the world. My concept combines my passion for merchandise planning and retail merchandising– and adds a few other challenges. The end result is a men’s retail concept not currently implemented. As I see fashion become more experience driven, I was inspired by large luxury retailers like Bergdorf Goodman and Burberry to create a small but unique retail space that is inspiring and relaxing. With careful consideration to aesthetics inspired by nature, a backdrop is provided for sharing experiences via social media.

S U MMARY Millennials and Generation Z are the most active on social media and are more inclined to share their experiences whether it be selfies or candids taken by their friends. Social media also pushes these generations to put forth the extra effort to always look their best and be camera-ready to share those experiences at any time. I plan to capture the attention of current and future fashion consumers by including a café and barbershop inside my retail space, along with a variety of products curated to appeal to a wide range of men from streetwear to suits, making Zachary Blake the ultimate men’s shop that meets all the needs of the modern man.

Executive Summary

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CO MPE TITOR S Due to the unique concept of Zachary Blake, there are no direct competitors, but rather indirect competitors. These competitors not only include other men’s retailers, but also small cafés and barbershops in Lake View, as well as online retailers. The only menswear store in the area is called CRAM Fashion and they specialize in high-end swimwear and underwear with a casual wear boutique. While the price point is similar, the product and brand offerings will be the biggest difference apart from store atmosphere and amenities. Another store in the area that offers men’s fashion items is Belmont Army. The large store is mostly skate apparel and other similar styles and also offers women’s items. The size and product selection make it an indirect competitor to Zachary Blake.

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Competitors

With three distinct components to Zachary Blake, there are three times the indirect competitors. While there a few barbershops in the area, the ones most similar to the one inside Zachary Blake include Chicago Male Salon and State Street Barbers. Chicago Male Salon offers a wide range of options in addition to a spa. State Street Barbers is the most similar and offers a wide range of services, and has an old fashion vibe. Nearby cafés include Corona’s Coffee Shop, Yefseis Cafe, as well as Starbucks Coffee. All the mentioned cafés offer a wider selection of food than planned for the one inside Zachary Blake’s. Corona’s serves soup, wraps, subs, and salads. Yefseis is a Greek café that offers açaí bowls, bagels, and sandwiches. There are three Starbucks locations in close proximity to Zachary Blake and their customer loyalty is a threat.

Competitors

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CRAM FASHION 3331 N Broadway Chicago, IL 60657 Cram Fashion is a boutique for men’s apparel carrying high-end brands such as Original Penguin, Ben Sherman, G-Star Raw, Shades of Grey, and many more. The rustic apartment-like ambiance represents a lifestyle of clothing and accessories

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Competitors

for men. Attached to the menswear side, the underwear lounge offers a wide range of men’s underwear, swimwear, and activewear from designers such as Andrew Christian, Pistol Pete, 2(x)ist, and Calvin Klein. The price point at Cram Fashions similar to Zachary Blake, but the product offering is more casual with less of an influence or trend driven fashion.

BELMONT ARMY 855 W Belmont Avenue Chicago, IL 60657 Belmont Army is an independent clothing shop located in Chicago’s Lake View neighborhood founded in 1975. It is a multifaceted retail environment comprised of five floors with over 10,000 sq feet of retail. They strive to stock unique designers

and labels from across the globe that are funky yet wearable and most importantly affordable. The most notable difference between Belmont Army and Zachary Blake is the aesthetic, followed by product selection. The retailer has had years to establish itself in Lake View and offers a wide selection of mostly skate style merchandise to men and women.

Competitors

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STATE STREET BARBERS 3525 N Southport Avenue Chicago, IL 60657

State Street Barbers was developed with the needs of men in mind. The first location opened in Chicago in December 2003 and quickly earned a successful reputation among its customers. The list of services is 14

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Competitors

refined in its simplicity, focusing on hot lather shaves and men’s haircuts which are accompanied by a shampoo, hot face towel, straightedge neck shave and a shoulder and neck massage.

CHICAGO MALE SALON 3418 N Halsted Street Chicago, IL 60657

Chicago Male Salon is located in the heart of Boystown, Lake View at the intersection of Halsted and Roscoe Streets. They offer a full range of hair

styling, facial skincare treatments and body hair removal services for men and women. The interior is stylish and modern.

Competitors

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Competitors

CORONA’S CAFÉ

909 W Irving Park Raod • Chicago, IL 60613 Corona’s Café is located just north of the Zachary Blake location and has excellent customer reviews on Yelp. The price range is under $10 and is described by customers as cozy and friendly. The main menu items are coffee, tea, soups, and salads and the hours are 6:30 a.m. to 6 p.m.

YEFSEIS CAFÉ

3344 N Halsted Street • Chicago, IL 60657 Yefseis means “tastes” in Greek, and offers foods that resemble home cooking and not typical cafe foods. The café is open seven days a week. Yefseis prides themselves on gourmet items that you cannot find in your local grocery store imported from Greece. The price range is under $10, and Yefseis has a 4.5 star rating on Yelp. Many customers enjoy it over Starbucks, and also love the selection of uncommon items.

STARBUCKS COFFEE Starbucks is a go-to for many customers with their countless locations and premium coffee selections. Each store offers its own unique atmosphere and customers are accustomed to having similar experiences, regardless of the Starbucks location they visit. Starbucks also has a revolutionary app where customers can order, pay, and keep track of loyalty rewards.

Competitors

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Demographics

D E MOGR APH ICS Lake View is one of the 77 communities in Chicago, Illinois and is located north of downtown. With a population of 94,535, Lake View is the second largest community in Chicago based on population. Smaller neighborhoods make up Lake View and include Lakeview East, West Lakeview, and Wrigleyville. Boystown has a large LGBT population and is known for its Pride Festival each year as well as Market Days. Wrigleyville is home to the Chicago Cubs baseball team whose home stadium is Wrigley Field. The median age in Lake View is 32.2 and the male to female ratio is 1:1. Chicago’s median age is 33.1 and the male to female ratio is 0.9:1. Zachary Blake will be located in the north eastern part of Lake View and the area’s specific demographics include a median age of 27.9 and a median household income of $85,057.

Household income: $200k+ 12% $150k-$200k 14% $100k-$150k 16% $60k-$100k 21% $40k-$60k 16% $25k-$40k 10% $10k-$25k 10% <$10k 7%

Age: 20-20 25-34 35-44 45-54

M: 12.2% F: 15.7% M: 37.1% F: 40.1% M: 17.8% F: 12.4% M: 10.8% F: 7.1%

Never married: M: 62% F: 61% Married: M: 32%

F: 30%

Divorced: M: 5%

F: 6%

Demographics

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Demographics

RYA N MIL L E R , 27 Ryan is a pharmacist at Norwegian American Hospital in Humbolot Park, and his annual income is in the $100k-$150k range. He lives with his partner, David, near Clark and Wellington where they rent a condo. Ryan loves new technology and always upgrades to the newest gadgets. To start the day, Ryan enjoys waking up and checking the news and social media on his iPhone before getting out of bed and eating a light breakfast. He considers shopping and buys fashion items regularly– usually online. After work, Ryan loves getting dinner with his friends at a restaurant he’s never tried or entertaining at home. According to the VALS segmentation, Ryan is an achiever.

Demographics

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ER I C CH E N , 41 Eric is a Director of Accounting near West Loop, and resides in a condo he owns with his wife on W Buckingham Place. Even though he doesn’t always upgrade to the newest technology first, he still considers himself technologically savvy. His 10 a.m. to 6 p.m. work schedule allows him to wake up in the morning and spend time at a café or catching up on e-mails. Eric consumes fashion less frequently than younger generations, but he care more about quality instead of quantity. His preferred retail method includes going to a store and interacting with a sales associate. Don’t let his job in finance fool you, Eric loves adventure and really enjoys nature and traveling. Eric is a thinker according to the VALS segmentation.

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Demographics

Demographics

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The Store

ZACHARY BLAKE 3710 N Halst ead C hicago, IL 60613

HOURS:

9am – 8pm

The Store

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EXIT

S T OCK O FFIC E R E S T R OOM

RETA IL SPAC E D R E S S S H I R T FIXT U RE

E L E VATOR CAS HW R A P

FIT T ING R OOM S M IR R O R S

D E N I M D I S P L AY

R E TA IL SPACE

F IRST F LO O R 26

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The Store

E XIT TO F I R E E SCAP E

K I TCH E N

CHICAGO

C ON D I ME N T B AR

E L E VATOR

REST ROOM S

KROFT & CLIPPERS

WAS H E R / D RYER

OFFIC E

SECO ND F LO O R The Store

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(View two on facing page)

(View one on facing page)

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The Store

Zachary Blake is a retail concept comprised of three distinct parts. The retail portion is located on the main floor with two rooms of retail, fitting rooms, a restroom, office, and stockroom. A staircase leads to the second floor from the center of the building. The first retail space at the front of the store contains mostly casual wear and denim items. Fashionable street wear from brands like Lacoste, Diesel, AMI, and River Island will find homes in this room where customers can see the latest fashion upon entering the store. In the middle, consumers will walk by the fitting rooms and stairs to the second floor, as well a few places to sit a small cash-wrap, and elevator. The back room, and last retail section of the first floor is home to suiting, accessories, and undergarments. Suiting brands include Ted Baker and River Island to appeal to a wide range of consumers. Accessories by Hard Graft, Nixon, and Persol are merchandised next to the fire place as well as undergarments by Diesel and Lacoste.

Top: View one Bottom: View two

The back of house includes a restroom, an office, as well as a small stock room to hold shoes and other merchandise.

The Store

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Kroft & Clippers Barbershop

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The Store

K RO FT & C LI P P ERS Kroft & Clippers is the name of the barbershop on the second floor of Zachary Blake. On the facing page is a general mock up of the space. There is room for three barbers to service clients, a small waiting area, retail shelves, and a small office. The overall feel of the shop further emphasizes the relaxing vibe of the entire concept as a whole. The walls are whitewash shiplap and the floor is shiny black tile illuminated by the windows at the front of the space. Baxter of California is product is a grooming products brand available for purchase. Among the assortment

is hair pomades, shampoo/ conditioner, night cream, shaving products, and travel kits. A small office is located adjacent to the waiting area and product selection. The office contains a desk along with a washer and dryer. Services in the barbershop will be limited to haircuts and beard trims. The space will ultimately be leased to an operator for a monthly rent and be separate from the Zachary Blake retail sales while still providing the service to customers.

The Store

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C O LLI N S QUA RT ER In addition to the retail space on the first floor, and the barbershop on the second floor, Zachary Blake also includes a small café called Collins Quarter. Collins Quarter is a café in Savannah, GA and the Chicago location would be its first in the city. The Savannah based café offers a relaxing atmosphere with a huge sky light that floods the space with natural sunlight, and plenty of southern charm to go around. The café space includes six tables to enjoy light food and beverages, as well a separate kitchen space in the back.

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The Store

The menu items inside the Zachary Blake location will be a curated version of the menu in Savannah, with a few exclusive items. Signature coffee drinks and light foods including salads and wraps will be available– bringing the south to the windy city. Like Kroft & Clippers, the café space will be rented in a lease agreement to Collins Quarter and will operate as a separate entity from Zachary Blake while still providing customers an extra perk to brighten their day.

Collins Quarter Café

The Store

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Product

The Zachary Blake customer knows what he wants. He cares about his appearance and what he wears. He has an interest in fashion and enjoys quality pieces that express his personal style– whether it be athletic streetwear or a suit. The product range at Zachary Blake is curated to provide consumers a wide variety of different styles while keeping the number of individual items low for exclusivity. For a look at the complete assortment plan– check out the appendix.

Product

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M ENS WE AR

SPORT

STREET

AU TUMN/W INT ER 17/18

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Product

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Athleisure is on the rise and it has a wide range in men’s fashion from vintage original style pieces to modern garments made of tech fabrics. In the streets, long coats are being paired with athletic styled outfits, and bomber jackets are bigger than ever– plain, embroidered, and borgcollars. Other outwear trends include smart jackets and biker jackets.

DENIM

TAILORING

Although athleisure is bigger than ever, denim has maintained its dominance by adapting and being used for other garments. Tailoring is ranging from casual cuts paired with cropped trousers and motif sweaters or roll-neck knits to smart cut suits with collard shirts. Long shirts are worn for a more casual look.

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Product

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Promotion

P R OMOTION To reach our audience, Zachary Blake will carefully advertise and utilize promotional resources. Visual print advertisements will be published in various publications around Chicago including Chicago Magazine, Alarm Magazine, Chicago Life, Newcity, Chicago Tribune, Daily Herald as well as various billboards and sporting events. Targeting Millennials and Gen Z requires savvy use of social media. Zachary Blake will utilize Instagram, Facebook, Twitter, and Snapchat to keep consumers up-to-date on the what’s happening.

To kick off the opening of Zachary Blake, there will be a grand opening party. Various bloggers that represent the Zachary Blake lifestyle will be invited to attend. The guest list includes Chris Hogan, Justin Livingston, Karlmond Tang, and Jamal Jackson. Each blogger has a large following with unique style. The grand opening party will include apparel, accessory, and gift card giveaways. Complimentary haircuts will be offered by Kroft & Clippers. Collins Quarter will provide light refreshments and complimentary drinks.

Promotion

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A Snapchat geotag will allow consumers in the store to share their experiences with their friends.

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Promotion

Print advertisements will look something like this.

Promotion

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Operations

In order to best serve customers, Zachary Blake must implement the best practices including human resources, inventory management, POS, and packaging.

Operations

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Operations

HUMAN RESOURCES Zachary Blake will hire one full-time manager whose salary will be approximately $52,525 annually. In addition to the store manager, there will be three part-time sales associates who will earn $12 per hour with the addition of sales goal bonuses. Customer service is such a high priority at Zachary Blake, and finding the right associates will be key. All associates will have great style and product knowledge to best serve the customers that visit the store.

INVENTORY Inventory for most items will remain low in quantity to keep a sense of exclusivity in the store and to keep the product assortment appealing. There will be storage devices strategically incorporated on the sales floor for merchandise, as well as a stock room located in the back of the store.

POINT OF SALE To better take care of customers and provide individual attention, the point of sale at Zachary Blake will be mobile. Each sales associate will use a hand-held device that will allow them to process purchases at a customer’s convenience instead of requiring a line at a traditional cash wrap. There will be a small cash wrap space near the elevator where shopping bags and a cash drawer will be located. Eliminating a traditional cash wrap also frees up space in the store.

PACKAGING The packaging at Zachary Blake will match the aesthetic of the physical location with blue toned bags and bronze colored letter press logo. Careful consideration will be given to environmentally friendly options while maintaining a luxurious feel.

Operations

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Financial Plan

F IN ANCIAL PLAN Running a new business is extremely costly, so Zachary Blake won’t make a profit the first few years of business. Due to the high population of Lake View, and year-round events including baseball games at Wrigley Field, the store’s footfall was calculated initially at 5% of the approximately 7,878 pedestrians that might be in the area each month. By the first year we’re hoping that number is 10% or more.

Estimated sales, based on footfall, for the first month are $13,471.38, and increase as footfall increases. Various promotional activities are planned to bring in customers and drive sales. The lease agreements for Kroft & Clippers, and Collins Quarter will also bring revenue in addition to Zachary Blake’s retail sales. For more information on estimated sales and how it was calculated, check out the appendix.

Financial Plan

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Conclusion

CONCLUSION Zachary Blake is using a creative approach of having several ammenities that focus on customer needs, then applying to a small scale store. The goal is to attract customers from current and future generations, and to grow with them. In the future, Zachary Blake would move into a more sophisticated omnichannel retailing strategy which would hopefully include more loacations and an exclusive app for loyal shoppers.

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