FURLA PRODUCT DEVELOPMENT

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FURLA

Product DevelopmentFashion Apparel Spring/Summer 2017


CONTENTS

ABOUT THE COMPANY VISION AND MISSION PRODUCT OFFERING SWOT BRAND POSITIONING TARGET MARKET CUSTOMER PROFILE COMPETITORS


PRODUCT DEVELOPMENT MOODBOARD TARGET MARKET ABOUT FURLA’S APPAREL TECH-PACK THE COLLECTION LINE ASSORTMENT TECHNICAL DRAWING SPECIFATION SHEET DETAILS SHEET COST SHEET PROTOTYPE DISTRIBUTION


MISSION & PHILOSOPHY

MISSION

Build furla into the leading premium lifestyle accessory brand who made with Italian craftsmanship style.

PHILOSOPHY

Furla encourage and promote Italian contemporary culture in its various forms of expression from art to fashion design. Furla.com | Company. (n.d.). Retrieved April 17, 2016, from http://www.furla.com/hk/en/ompany


ABOUT FURLA Furla is an Italian company that was created by the Furlanetto family almost 90 years ago in 1927. The company is currently a limited liability company, but still owned by the Furlanetto family. Furla features Italian-designed products that range from handbags and shoes to accessories. Since 1927, Furla has been creating premium leather goods and accessories made with high quality Italian craftsmanship and style, and distributed all over the world. Furla interprets the Italian lifestyle in to each and every product, with distinctive creative spirit, understated design and timeless elegance. In 1955 Aldo opened the first Furla store on Via Ugo Bassi in the heart of Bologna, selling leather bags and accessories. In the 1970s, the first collection of bags carrying the Furla logo was launched. With their avant-garde stylistic choices, they introduced unusual production methods and the use of atypical materials such as nylon and rubber. The success was immediate. It was a decisive change of vision and strategy that met the needs of a new society with strong, independent, emancipated women who paid attention to emerging fashions. Since the early 1980s, Furla began expanding the Italian accessory market to launch a franchising network. After Bologna, Rome and Paris, the boutique on Madison Avenue in New York was opened. A far-sighted distribution network was in the planning stages. In 2007, Furla appointed Paolo Fontanelli as Chief Executive Officer presiding over its Corporate office and 9 subsidiaries (USA, France, Spain, UK, Japan, Hong Kong, China, Germany, and Australia). This marked the first time corporate leadership was attained outside the family. It reflects the entrepreneurial spirit to invest in the growth and future success of the company. Furla currently exports to 71 countries. Its products are present in over 1000 retail sales outlets and 320 single brand boutiques, 156 of which are owned by the company and 164 are franchised. Furla is a brand that looks to the future with a positive energy, one that fully embodies and kindles the desire for Italian style and lifestyle.Stitch after stitch, expert artisans bring to life the Furla collections using the time-honoured techniques that have elevated Made in Italy quality standards to symbols of excellence in every corner of the world. Furla. (n.d.). Retrieved April 26, 2016, from https://en.wikipedia.org/wiki/Furla



PRODUCT OFFERING

Furla offers products that design and manufacture in Itlaly. Bags includes crossbody, shoulder bags, totes, bucket bags, satchels, and clutches; shoes includes sandals, flats, sneakers, loafers, and heels. Accessories includes wallets, scarfs, phone cases, has the advantage of being an Italian brand. keycases, keychains, sunglasses, belts,candles and stationeries.Jewelries includes bangles, bracelets, earrings, and necklaces. Furla also offers a smaller section of men including bags, shoes, and accessories. Furla. (n.d.). Retrieved April 26, 2016, from https://en.wikipedia.org/wiki/Furla


SWOT

Weaknesses

- Low popularity of product - Used to be old client based - Not a global well-known brand

Threats

- Attractiveness to high fashion - Strong advertising campaigns of competitors - Economic downturn - Much more luxury brands entering at Furla’s price point - Intense competition as most of competitors offer apparel line already - Young adult are not as loyalty as mature adult, they might not consider to buy different categories from same brands

Strengths

- Strong heritage & realhistory - Broad range of products - Fast-growing new lifestyle categories - Cranftsmanship - Product quality - Affordable price point - Active on social media

Opportunities

- New media usage for increasing brand awareness - Add more categories to the brand (Furla’s fast growth is testament to th continuing) - Development of the accessible luxury space,foresee a positive future growth of existing lines as well as by the new categories - Expand target group - Young adult tends to purchase affordabl luxury brands’ products

Furla success underlines rise of accessible luxury. (n.d.). Retrieved from https://next.ft.com/ content/adf07446d4b3-11e5-829b-8564e7528e5 Furla confirms the rise and rise of accessible luxury. (2016). Retrieved April 26, 2016, from http://www.reuters. com/article/luxury-furla-idUSL8N15V2SR


BRAND POSITIOING

Furla considers as an affordable luxury that provides mid-high and high quality products. Affortable luxury is mainly middle-class position. As middle class is increasing and looking forward to be associated to the rich class. Furla is not competing with the luxury companies Furla has the advantage of being an Italian brand that Italy is well-known for skilled craftsmanship and high quality raw materals. Accessible Luxury: Where is Furla’s Stand? (n.d.). Retrieved April 17, 2016, from http://fashionbi.com/insights/marketing-analysis/ accessible-luxury-where-is-furla-sstand



TARGET MARKET

According to Fabio Fusi,Furla’s creative director, Furla customer “is a real woman, she is very smart, she works, and she studies, so she is very practical. At the same time she is curious and she is a woman who probably likes art and architecture.”. Furla is an affordable luxury brand targeting middle-class group. It provides high quality of craftsmanship products in a reasonable price points. Furla used to target more mature customers since they were well-known for quality instead of style. However, since the significant candy bag came out in 2008, it attracted millennials’ attention and now Furla expands its target group fro 35 and abo ve to 20 and above. Younger customers are looking for unique style and shape while other customers are still looking for quality and functionality.

FURLA. (n.d.). Retrieved April 26, 2016, from http://baike.baidu.com/item/FURLA FURLA IS SETTING ITS SIGHTS ON THE US MARKET IN 2016. (n.d.). Retrieved April 25, 2016, from http://fashionista.com/2015/11/furla-5th-avenue



CUSTOMER PROFILE

Rachel Ng is one of our customers. She considers as an experiencer. She is 32 years old. She lives in Tai Koo with her husband. Rachel graduated from Chinese University of Hong Kong and currently working as an accountant in an electronic company. She makes approximately $30,000 monthly. Rachel enjoys doing yoga and artjam with her friends on weekend for relaxation. Rachel likes to read fashion magazines and shop around to keep up with latest trend. She loves to experience and explore new things. She cares about quality and details. She likes to purchases affortable luxury products that can last long period of time to reward herself from working hard. Thus, she is a perfect customer for Furla.





COMPETITORS

Comparing Furla with Michael Kors, Coach, and Tory Burch, they all stand out in accessible luxury accessory market. Furla is different from the other three brands that they are all American brands, but Furla takes the advantage of being an Italian brand, they also are family business but run in a multinational environment. According to the Fashionbi’s intelligence index, Furla ranks 4th which follows Michael Kors, Tory Burch, and Coach. Michael Kors, Tory Burch, and Coach are more lifestyle brands than Furla. Although the bulk of their sales originate from their accessories, their overall branding, image, and apparel are all factors that all to glitz around the sales. However, the advantage of Furla is Furla focuses on materials, details, and design. It cares about the quality and design, creativity and passion. These factors help Furla to maintain it s own style and keep a specific target group.

COACH Official Site. (n.d.). Retrieved April 26, 2016, from http://www.coach.com/ Michael Kors: Designer handbags, clothing, watches, shoes, and more. (n.d.). Retrieved April 17, 2016, from http://www. michaelkors.com/ Women’s Clothing, Designer Shoes & Flats, Handbags & Accessories | Tory Burch. (n.d.). Retrieved April 17, 2016, from https://www.toryburch.com/



PRODUCT DEVELOPMENT


MOOD / COLOR / FABRIC



TARGET MARKET Young adults are the major target market for retail industry. Middle class targeted group customers in China are highly brand conscious. 52% of Chinese respondents said they prefer branded goods to cheaper alternatives. Millennials look brandname as a sense of identity, social connection with others. According to Agility Research and Strategy on Hong Kong and mainland Chinese affluent consumers, consumers’ motivates on purchasing luxury brands are depending on the designs, craftsmanship, exclusivity,and country of origin. Furla can make customers’ dream come true by providing high quality craftsmanship, customize design products that manufacture in Italy. This apparel line is targeting young adults to mature work-class women who are from the age of 25 to 35 years old. They are educated and work hard. They care about the quality instead of just looking at style and trends. The apparel line aims to provide affordable, playful yet wearable work-wear for career women. It help s to speak out the customers’ unique lifestyle by wearing Furla’s clothing. How BRICS Consumers Behave. (n.d.). Retrieved April 26, 2016, from http://0-www. portal.euromonitor.com.library.scad.edu/portal/analysis/tab Young Consumers in Emerging Economies Offer Luxury Goods More Opportunities Than in Developed Economies. (n.d.). Retrieved April 26, 2016, from http://www.portal. euromonitor.com.library.scad.edu/portal/analysis/tab


ABOUT FURLA’S APPAREL

By keeping the originial Furla’s style, the apparel line has no exaggerated trademark. They all design with clean lines and subtle color that can represent young and lively, pretty and confident substances. Furla’s apparels apply the idea of using bright color to make the style more vibrant by combining pattern with geometric shape in a playful way. The outfits are east to carry and they are combination of feminine and modern style.

Play fun eye-catching : FURLA handbags spring and summer. (n.d.). Retrieved April 26, 2016, from http://cg.cosmopolitan.com.hk/fashion/fashion-talk/furla-2015-spring-summer-collection



TECH-PACK


THE COLLECTION


LINE ASSORTMENT

FS17005

Red symmetrical Emboriery on White Silk-Chiffon Size : 2-8

FS17004

FS17003

Skirt with red Symmetrical Emboriery

Leg Crop Trousers

Pink Linen Round

FS17002

FS17001

Black Lace

Emobriery Collar

Size : 2-8

Kam Woo Piece Goods Ltd

R5528 100% Cotton

KK Textile Limited

Size : XS-L

Size : 0-8

White Chiffon Top with

LC7715 80% Polyester 20%Nylon

Pink Linen Wide-

White Chiffon Shirt with Size : 2-8

R365 100% Polyester

FF-288 55% Linen 45% Cotton

0400113 80% Nylon 20%Cotton

JD2193 100% Silk

KK Textile Limited

Kar Hong Textile Hong Kong Ltd

Robert Kaufman Trading Co.

Ying Nai Textile Trading Co.


TECHNICAL DRAWING STYLE#

COMPANY DESCRIPTION

SEASON

FS17001 Furla White Chiffon Shirt with Emobriery Collar Spring 2017

SIZE

6

DATE

May 30, 2016

COLOR White / Coral FABRICATION Cotton / Polyester / Silk


SPECIFATION SHEET STYLE#

COMPANY DESCRIPTION

SEASON

A B C D E F G H I

FS17001 Furla White Chiffon Shirt with Emobriery Collar Spring 2017

LENGTH (CM)

21 10 4 4 4 16 13 58 25

J K L M N O P Q R

SIZE

6

DATE

May 30, 2016

COLOR White / Coral FABRICATION Cotton / Polyester / Silk

LENGTH (CM)

13 21 43 42 9 17 51 58 30

S T U V W X

LENGTH (CM)

4 72 28 48 21 68


DETAIL SHEET STYLE#

COMPANY DESCRIPTION

SEASON

FS17001 Furla White Chiffon Shirt with Emobriery Collar Spring 2017

SIZE

6

DATE

May 30, 2016

COLOR White / Coral FABRICATION Cotton / Polyester / Silk

Collar with 1/4 stitches on the inner part Both front and inner collar are 4cm Distance between the open area is 10 cm.

Puffy sleeves effect on the bottom part of the sleeves

With elastic band cover with embrodiery pattern


COST SHEET STYLE#

COMPANY DESCRIPTION

SEASON

FS17001 Furla White Chiffon Shirt with Emobriery Collar Spring 2017

FABRIC YARD Silk- Sleeves Polyester / Silk- Body Cotton - Collar/Cuff

1 11/2 3/4

TRIM / FINISHING QUANTITY Threads Elastic Company Label Detailing (on the label) Tag Packaging

LABOR Pattern Making Tailoring TOTAL

COST

6

DATE

May 30, 2016

COLOR White / Coral FABRICATION Cotton / Polyester / Silk

PRICE PER YARD (HKD$) COST (HKD$) 75 75 97.5 65 30 40 TOTAL 202.50

1 2 1 1 1 1

150 350 500

TOTAL MANUFACTURING COST MARKUP WHOLESALE PRICE SUGGESTED RETAIL PRICE

SIZE

PRICE PER QUANTITY (HKD$) COST (HKD$) 1.5 1.5 1 1 1.2 1.2 0.4 0.4 0.8 0.8 3 3 16.9 TOTAL PER (HKD$) COST (HKD$) 120 per dozen 10

Delivery

$ $ $ $

729.4 474.11 1203.51 1677.6

65%



DISTRIBUTION

As apparel line for Furla is still a new investement, therefore not all the brunches will offer in-store purchases. And the target of this product development is to help Furla to expand their targer market to younger women, we hope that this apparel line can bring in more sales to the stores and attract new customers for both apparel or original accessories lines. We are planning to display and introduce Furla’s apparel in all the flagship stores in both Hong Kong and China first. As flagship stores provide rich amount of product lines and it is a good way to start introducing new products to customers from flagship stores. They allow more space for all the events, such as pre-launch and launch party. Beside brick and motor stores, we will also sell Furla’s apparels through Furla’s online store. Since techonology in growing rapidly among our target group, we believe that they are more comfortable and used to shop through e-commerce.



REFERENCE Furla.com | Company. (n.d.). Retrieved April 17, 2016, from http:// www.furla.com/hk/en/company Accessible Luxury: Where is Furla's Stand? (n.d.). Retrieved April 17, 2016, from http://fashionbi.com/ insights/marketing-analysis/accessible-luxury-whereis-furla-s-stand Chan, K. (1992). Young consumers and perception of brands in Hong Kong: A ... Retrieved April 17, 2016, from http://www.coms.hkbu.edu.hk/karachan/file/JPBM_HK_youth_drawing.pdf Furla Fashion Brand Philosophy | Furla Fashion Inspirations. (n.d.).Retrieved April 17, 2016, from http://fashiongear.fibre2fashion.com/brand-story/furla/brand-philosophy-values-and-inspira tions.asp Michael Kors: Designer handbags, clothing, watches, shoes, and more.(n.d.). Retrieved April 17, 2016, from http://www.michaelkors.com/Women's Clothing, Designer Shoes & Flats, Handbags & Accessories | Tory Burch. (n.d.). Retrieved April 17, 2016, from https://www.toryburch.com/ Play fun eye-catching : FURLA handbags spring and summer. (n.d.).Retrieved April 26, 2016, from http://cg.cosmopolitan.com.hk/fashion/fashion-talk/furla-2015-spring-summer-collection How BRICS Consumers Behave. (n.d.). Retrieved April 26, 2016, from http://0-www.portal.euromoni tor.com.library.scad.edu/portal/analysis/tab Furla confirms the rise and rise of accessible luxury. (2016). Retrieved April 26, 2016, from http://www.reuters.com/article/luxury-furla-idUSL8N15V2SR Furla success underlines rise of accessible luxury. (n.d.). Retrieved from https://next.ft.com/ content/adf07446-d4b3-11e5-829b-8564e7528e54


FASM 310 Spring 2016 Stephanie Chow


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