RESEARCH ANALYSIS
4011 W Sunset Blvd, Silver Lake, CA // 26 Smith Alley, Pasadena, CA
Mohawk General Store, founded in Silverlake by husband and wife team Kevin & Bo Carney in 2008, has opened their second boutique in One Colorado’s quaint, cobblestoned Smith Alley. Mohawk carefully curates all its apparel, offering an eclectic mix of hard-to-come-by-labels for men and women, with their best-selling brands including Dries Van Noten, Tellason denim, APC and Offcine. Further setting this store apart, Mohawk carries a selection of unique artisan products and one-of-a-kind vintage treasures, culled from around the world, such as Hi-Fi turntables, furniture and apothecary items. Like its parent store in Silverlake, the new Pasadena location will offer an exquisite selection of clothing and accessories housed in a masterfully crafted environment that makes the Mohawk shopping experience a memorable occasion
BRAND HISTORY
CLEAN UTILITARIAN UNIQUE CLASSIC ONE-OF-A-KIND ARTISAN HAND CRAFTED ECLECTIC FORWARD HAND-PICKED ABSTRACT VINTAGE
BRAND IDENTITY
Mohawk general store is not just about fashion, it is about wardrobe-building. It is a discreet yet wholesome brand of luxury boutique based in Los Angeles that not only carries it’s own self titled brand but also stocks stylish everyday pieces like Acne jeans, Jenni Kayne flats, Illesteva sunglasses and other labels that have the same sensibility as the store. This clean classical aesthetic of mohawk general store also seems to influence the store’s selection of products for the home. Midcentury modern furniture complements contemporary items like framed prints and ceramic pots by Los Angeles-based artists Hamish Robertson and Victoria Morris, along with Cire Trudon candles and Santa Maria Novella beauty products. The range of merchandise elevates the shopper’s store experience as well as gain popularity for being a sort of concept shop. Due to this reason, not only does this general store have immense merchandising flexibility, it also has a warm familiarity to it that works well.
BRAND IDENTITY
THE MUSE:KATE MOSS The mohawk woman is someone with a unique style and personality.A lover of vintage collectibles this woman goes for quality and culture driven products. She is young, possibly an artist, musician, an actor or a designer She is born and raised in california and lives in Los Angeles, possibly a local of Silverlake Her style is laid-back and her wardrobe is one of comfort and timeless elegance.She loves to wear denim and basics and has a soft corner for the 1950’s Mod Generation.She is hardly ever shopping unless required and is not afraid to repeat her clothes. A young Kate moss is the perfect muse for Mohawk merchandise because She is the ultimate rule-breaker who buys second-hand cashmere polo necks, silk 1930s nightgowns and original 1940s tailoring from Portobello market unlike her other celeb counterparts.
CUSTOMER PROFILE: MOHAWK WOMAN
THE MUSE: GEORGE HARRISON The mohawk man is comfort-driven. He is a laid back and extremely creative and passionate individual with an impeccable taste and style. He is detail oriented and carries himself with poise. He is born and raised in Los Angeles and likes to shop at local boutiques, flee markets and vintage stores he travels and takes roadtrips, reads and writes.He also plays golf and likes his coffee black and strong.He is possibly a writer or a musician, a creative individual with an easy going persona. George harrison is the epitome of easy and comfort fashion.The man had a way with double denim. He went for broken-in jeans and frayed button-ups—the kind of gear you’re used to seeing on a professional gardener. it’s been the template for transcendental crooners. He was known tp sport unpretetious work clothes that stands so close to the aesthetic of the Mohawak man
CUSTOMER PROFILE: MOHAWK MAN
BRANDS WE CARRY
WOMENS
MERCHANDISE ASSORTMENT: APPAREL & ACCESSORIES
MEN BRANDS
WOMEN BRANDS
6397 A Détacher Ace & Jig Acne Aesa Ahlem Eyewear Alexander Wang Ancient Greek Sandals Apiece Apart Araks BASERANGE Black Crane Building Block Carven Crescioni Clyde Creatures of Comfort Dieppa Restrepo Dream Collective Dries van Noten Women’s Dries van Noten x Linda Farrow Engineered Garments FWK Eytys Gabriela Artigas Henrik Vibskov Hope Horses Atelier Hortense Isabel Marant Étoile Jacquemus
MERCHANDISE The Mohawk General store is privately-held luxurious general store that sells through their two brick and mortar locations and their online website.It has a lot of merchandise flexibility and carries everything from women’s and men’s apparel to a classic collection of shoes, unisex bags and glasses as well as a unique collection of home goods and hand-crafted lifestyle items. The store also has a section dedicated to it’s commendable vintage collectibles. In recent months, Mohawk has developed it’s own label, namely Smock that is a collection that is finely tuned with the aesthetic of the store and it’s brands.
PRICE POINTS Most of the company sales are through their location stores. Currently they have five employees and merchandise prices range from $25-$1700 Estimated annual revenue: $90,000 Estimate website income per day: $47.00 Estimate website net worth: $21,600
ale
Anderson’s Anonymous Ism Arpenteur Aspesi Axs Folk -Technology Barena Common Projects Comme Des -Garçons Junya-Watanabe Dries van Noten Engineered -Garments Gitman Brothers -Vintage Golden Bear -Sportswear Industry of All - Nations Larose Paris Levi’s Made & Crafted Levi’s Vintage -Clothing Mr. Gray Needles nonnative OAMC Officine Gener-
LIFESTYLE BRANDS Comme Des Garรงons Cousu de Fil Blanc D.S. & Durga ER Studio Juniper Ridge Kelly Lamb Mohawk General Store Reinhard Plank Scha Shoes Like Pottery Vintage Raf Simons x Adidas Raf Simons x Sterling Ruby Singh and Son Sun Buddies TID Watches Viberg Boot Wakouwa Waltzing Matilda Workaday
MERCHANDISE ASSORTMENT: LIFESTYLE
MERCHANDISE ASSORTMENT: MOHAWK LABEL SMOCK
STORE LAYOUT
VISUAL MERCHANDISING
THE STORE IS LAID OUT IN SECTIONS OF: MEN’s APPAREL WOMEN’S APPAREL MEN’s SHOES WOMEN’s SHOES ACCESSORIES HOME GOODS VINTAGE COLLECTIBLES MISCELLANEOUS HAND CRAFTED ITEMS The store layout is anything but fussy. Every piece is laid out with enough breathing room and spaced out enough for consumers to move out with ease.Although most of their merchandise are sectioned out, their vintage collection are thrown in almost to break the monotony perfectly balancing out the store appeal. It is impressive to see that the colors are coordinated and displayed from light to dark on monogrammed wooden hangers. The lighting in the store is subtle but exquisite because of the placing of the beautiful chandelier in the centre of the ceiling. The walls are clean white with a mix of wooden furniture and shelves along with brick walls towards the back of the store. The colors of the store are kept to a minimum with tints of pastels and shades of mahagony The window displays are underdone compared to the rest of the store but the glassdoors and vintage appeal of the overall entrance, not to mention beautiful quality store items more than make up for it.
VISUAL MERCHANDISING
Founded in 1969, The Gap Inc, is a global specialty apparel company. The company offers products in apparel, accessories, and personal care items for men, women, children, and babies. The brands of the company operate under five banners : - Gap -Old navy -Piperlime -Athleta -Banana Republic The brand operates globally, in North America, Europe, and Asia. Its headquarters are located in San francisco, CA and emplys about 137,000 people ( Gap inc). Gap distributes it’s products through it’s retail stores, catalogue and online ecommerce. the company also manages franchise businesses and wholesale. Under these agreements, third parties operate stores that sell apparel and related prodcuts under it’s brand names, arounf the globe.
BRAND VALUES INTEGRITY RESPECT OPEN-MINDEDNESS QUALITY BALANCE
BRAND IDENTITY
BRAND ANALYSIS One of the assets of the Gap is that it has a rich history and hertiage, that has grown to play a quintessential role in american culture. Jeans are a key part of the brand’s DNA and helped develop it into the Gap known today. “Style and fashion may change, but jeans never got out of style”, claims global CMO of Gap, Seth Farbman. Gap’s 1969 jeans line was an effective strategy in looking to the company’s past in order to define its future in the market.The marketing efforts featured vignettes from its hip looking LA design studio, focusing on the intriguing, innovative, current and connected things that were happening in the company. Due to the established history and growth over the years, Gap has secured a strong global brand awareness. “everybody knows gap, when we come into international markets for the first time, even there, there’s no awareness problem. Seth Farbman explains, “ our brand’s view is that you should have the quality, the design, the fabrication, the developement, all of the great things about premium denim but not at a premium price. The brand has akways been about democratization and accessibility” Gap strongly beleives and incorporates it’s brand values in the company and workforce.
BRAND IDENTITY
THE
CUSTOMER Gap, Inc. essentially tried to corne each section of the retail apparel market with its brand decisions It seeks to serve the needs of the everyday casual market. Although more moderately priced, the lure of Gap has been the style and substance— quality products that can withstand the wear and tear of the weekly grind yet still fit within most budgets. It has proven to be a leading international specialty retailer offering clothing, accessories, and personal care products for men, women, children and babies The Gap brand included Gap, GapKids, and babyGap. Gap Outlet and Banana Republic Factory Outlet Stores were also operated by the company. Gap, Inc.’s market capitalization of $12,743 million was more than four times those of two of its closest competitors, American Eagle Outfitters, with $3,221 million and J.Crew with $2,400 million.
CUSTOMER PROFILE
GAP BRANDS Gap Outlet GapKids BabyGap GapBody GapMaternity
DISCOUNTINUED BRANDS forth & towne Old
warehouse
Old navy outlet Hemisphere Pants % off Pottery barn Super Gap TAGG’S You & You
MERCHANDISE ASSORTMENT
STORE LAYOUT
VISUAL MERCHANDISING
VISUAL MERCHANDISING
VISUAL MERCHANDISING
Gap Inc. (NYSE:GPS) operates its Banana Republic stores in North America, Europe and Asia. Although we estimate the segment to contribute less than 18% to the company’s overall value, its stores have been quite productive for the apparel retailer. Banana Republic stores generate revenue per square feet of around $500, which is significantly more than Gap’s $400 and Old Navy’s $280.So what makes these stores so productive and why is it an important business segment for Gap? Banana Republic’s business is somewhat different from Gap and Old Navy stores. While the latter two brands are value-focused, Banana Republic offers products at slightly higher price points. This adds an affordable luxury business to Gap’s arsenal. Additionally, most of Banana Republic stores are in the U.S., where demand for affordable luxury merchandise isn’t impacted as significantly by a weak economy than other regions. However, with the brand’s small international footprint, Gap might be missing out on a substantial growth opportunity.
PRICE POINTS
Current
stock value
FINANCIALS
FINANCIAL ANALYSIS in
the early 2000s GAP, Inc. had established a Strong portfolio of highly respected brands, including Gap, Old Navy, and Banana Republic. rcrombie, Target, Kohls, and Wal-Mart made advances to take part of Gap, Inc.’s market share. Gap, Inc. attempted to move from its signature basic designs to designs it hoped would attract the younger and trendier customers. Customers who were loyal to the basic designs felt neglected and turned to other retailers, which resulted in five years of revenue declines from fiscal year 2005 to 2009.
Although Gap, Inc. made progress in 2010 as signs of economic recovery began to appear, analysts believe that it will be difficult for Gap, Inc. to build sustainable growth over the long term. It would be relatively easy for competitors to copy Gap’s designs and marketing strategies. “Fast-fashion” chains that offer the latest trends at lower prices, such as Inditex’s Zara, H&M, and Forever 21, are becoming increasingly popular. In addition, competition is extremely fierce in the European and asian markets. Consumers are more fashion conscious, and once past the initial popularity of Western styles, Gap, Inc. will need to keep pace with changing trends in different regions to remain competitive.
FINANCIALS
bergdorf goodman traces back to 1899 when herman Bergdorf, an immigrant from alsace, France, opened a tailor shop just above union square in downtown manahattan.Edwin goodwan,a young old merchant , based in lockport, NY, moved to NYC to work as an apprentice for Bergdorf.Within two years, goodman had raised enough money to purchase an interest in the business, which was named bergdorf goodman in 1901. Both bergdorf and goodman opened a dress atelier on fifth avenue at 19th street the same year.Later in 1914, goodman introduces RTW to american fashion and gradually over the years, fifth avenue took over as the mecca of luxury retail in american fashion industry. Bergdorf goodman celebrated it’s 112th year anniversary in 2013.
BRAND HISTORY
BRAND IDENTITY
MISSION STATEMENT “BERGDORF GOODMAN PROVIDES LUXURY ASSORTMENTS AT THE HIGHEST CALIBER, ALL GEARED BY KNOWLEDEABLE STAFF TO PROVIDE A CUSTOMIZED, ENJOYABLE BUYING EXPERIENCE” Many of our most beloved designers have gotten their start at Bergdorf Goodman. American RTW extraordinaire Michael Kors had a meeting in 1981 with creative director Dawn Mello, leading to the creation of an exclusive line for the department store. In 1959, Roy Halston began at Bergdorf Goodman as head milliner after moving to NYC only a year earlier from Chicago when he was a simple hat designer. Queen of cosmetics Bobbi Brown debuted the lipstick collection in 1991 that launched her career as one of the most powerful women in cosmetology
BRAND IDENTITY
BERGDORF GOODMAN: a household name Bergdorf’s has turned some of the most promising designers of our country into household names. After watching so many episodes of Project Runway, some of might as well think they know michael kors personally. The 111-year-old store usually has between 300 and 350 window displays annually, with each of their windows taking roughly 18 hours to install. The team that creates the Bergdorf holiday windows starts preparing a full year in advance in order to create a wonderful visual spectacle that onlookers remember for years to come. magazine, website, blog, daily shoe app and a movie “ scatter my asjes ay Bergdorf’s” later, Bergdorf Goodman is still one of the most influential and iconic department stores in the world.
BRAND IDENTITY
the innovator Demographics Age: 25-50 gender: male/female Income: $150,000+ Education: bachelor’s degree or higher Marital status: married w/ a family Home ownership: yes Who is an innovator? She is successful, sophisticated, has high self esteem.She is receptive to new ideas and has cultivated taste.She is an active consumer and has leadership qualities and take charge attitude. Her favorite things are sparkling water, a rewarding shopping experience, tea and luxurious vehicles. She is extremely image conscious and her clothes are extrememly important to her because they represent her taste, independence, status and personality. She likes variety in her life and posseses and actively participates in the finer things in life.
CUSTOMER PROFILE: THE INNOVATOR
MERCHANDISE ASSORTMENT
PRODUCT CATEGORIES Bergdorf Goodman carries a variety of products and strives to provide a wide selection of assortments and services. In 1999, the Beauty level opened directly below the main floor, offering a luxury spa and goodman’s cafe, serving lunch and afternoon tea.in 2002, bergdorf goodman restored the main floor of the women’s store. In 2003, they introduced new boutiques for chanel, giorgio armani, gucci, versace and yves saint laurent. Main floor: handbags, jewelry, sunglases. optical shop beauty leve;: goodman’s cafe, cosmetics, frangrance, hosiery second floor: designer shoe salon, European designer boutique third floor: advanced designer collections, solutions by betty halbreich fourth floor: couture collections, fur salon, evening collections, personal shopping services 5F: contemporary clothing, denim, shoes and accessories sixth floor: sportwear, coats, eveningwear, lingerie and swimwear, client services and incircle services seventh floor: BG restaurant decorative home, china, crystal, silver, stationery, books, linen, little bg, holiday shop. bridal and gift
BERGDORF GOODMAN WINDOW DISPLAY
VISUAL MERCHANDISING
Bergdorf goodman encompasses a lot of different aspects, including exclusivity in product selections. They have extravagant designer based assortments to fit every customer style and taste.their window displays are the best in the companyand have utmost creativity.The window displays make such a statement that people from all over new york city visit to see them. Bergdorf’s prides themselves on outstanding customer service and they ensure that every employee has a high level of product knowledge. Their store is not just a department store, it is a retreat for the clients. This is a place you come for the day and the slow shopping experience is definitely a part of their marketing plan. Lastly, bergdorf’s knows who their elite client is and what he/she wants, which is the most important aspect when dealing with goods and services from a merchant standpoint. they also have a huge presence on social media including facebook, instagram, twitter. They have their own smart phone app called today’s shoe where consumers can send pictures of their shoes to the brand.
VISUAL MERCHANDISING
FINANCIALS
FINANCIAL OVERVIEW Owned by upscale department store operator Neiman Marcus, Bergdorf Goodman operates two opulent stores across from each other on 58th Street in Manhattan, that ring up about 14% of Neiman’s total revenue. The smaller store, which opened in 1991, is devoted exclusively to men. The elite retailer also sells via a catalog and a website. Bergdorf Goodman has been doing business at its prime location since 1901. Geographic Reach While limited, Bergdorf Goodman’s retail footprint covers some of the most expensive and exclusive real estate on the planet: 58th Street and Fifth Avenue. Financial Performance The deep recession in the US and consequent plunge in demand for luxury goods hurt sales at both Bergdorf Goodman and its parent Neiman Marcus. But after a couple of lean years, luxury sales have rebounded sharply. In fiscal 2013 (ended July) parent Neiman’s sales climbed 7% versus prior year, and the previous annual sales comparison was even better. Profits have rebounded sharply as well: swinging from a loss in fiscal 2009 to about $163 million in net income in fiscal 2013. Ownership Bergdorf Goodman’s parent company, Neiman Marcus, was taken private in October 2013 by Ares Management and Canada Pension Plan Investment Board in a deal valued at $6 billion.
FINANCIALS
CITATIONS “Beautiful Minds.” Elle. N.p., n.d. Web. 1 Oct. 2014. “Bergdorf Goodman: A Brief History.” The Stylitics Report. N.p., n.d. Web. 02 Oct. 2014. “Bergdorf Goodman Inc.” |Company Profile|Vault.com. N.p., n.d. Web. 1 Oct. 2014. “The Bergdorf Goodman Swipe.” The Bergdorf Goodman Swipe. N.p., n.d. Web. 02 Oct. 2014. “Bergdorf Goodman’s Anniversary Collection.” Pinterest. N.p., n.d. Web. 27 Sept. 2014. “The Gap Visual Merchandiser Interview Questions.” Glassdoor. N.p., n.d. Web. 02 Oct. 2014. “The Gap’s Development and Financial Prospects.” The Gap’s Development and Financial Prospects. N.p., n.d. Web. 02 Oct. 2014. “Login - WGSN Fashion Trend Forecasting and Analysis.” WGSN Fashion Trend Forecasting and Analysis. N.p., n.d. Web. 27 Sept. 2014. “Login.” Savannah College of Art and Design. N.p., n.d. Web. 02 Oct. 2014. “Mohawk General Store.” MOHAWK GENERAL STORE. N.p., n.d. Web. 02 Oct. 2014.
VIDHI BALASARIA