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TABLE OF CONTENTS 1. INTRODUCTION TO MBMJ - LMVH
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2. MARC BY MARC JACOBS
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3. BRAND IDENTITY
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4. DESIGNERS
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5. LOCATIONS 5.1 -Ecommerce
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6. TARGET CUSTOMER 6.1 - Meet Jeremy
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7. CUSTOMER LIFESTYLE
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8. PRODUCT CATEGORIES
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9. S.W.O.T 9.1 - SWOT ANALYSIS
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10. COMPEITITORS 10.1 - ZARA- TOPOSHOP 10. 2 -NASTY GAL- ASOS
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11. STYLE IDENTITY
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12. BRANDING
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13. ADVERTISING
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14. MARKETING
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15. CAST ME MARC CAMPAIGN 16. SOCIAL MEDIA INFLUENCE 17. SPRING 15 RUNWAY SHOW 18. ACCESSORY TRENDS 18.1 - KEY TRENDS IN SOCIETY 19. FUTURE OF MBMJ 20. SIX MONTH BUYING PLAN 20.1 - TWO STORE COMPARISON PLANS 20.2- ASSORTMENT PLANS
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21. CLOSING STATEMENT
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Moët Hennessy • Louis Vuitton S.A., better known as LVMH, is a French multinational luxury goods variegated. The headquartered is located in Paris. The company was formed by the 1987 merger of fashion house Louis Vuitton with Moët Hennessy, a company formed after the 1971 merger between the champagne producer Moët & Chandon and Hennessy, the cognac manufacturer. It controls around 60 subsidiaries that each manage a small number of prestigious brands. The subsidiaries are often managed independently. Marc Jacobs is one of the subsidiary companies owned by the LVMH group. And since Marc Jacobs is the parent company of Marc by Marc Jacobs, it also indirectly is owned by the
LMVH group since it’s launch in 2001. “The mission of the LVMH group is to represent the most refined qualities of Western “Art de Vivre” around the world. LVMH must continue to be synonymous with both elegance and creativity. Our products, and the cultural values they embody, blend tradition and innovation, and kindle dream and fantasy.” There are five priorities that reflect the fundamental values shared by all Group stakeholders, namely, being creative and innovate, aiming for product excellence, bolstering the image of their brands with passion and determination and always acting as entrepreneurs as well as striving to do the best they can.
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-A MULTINATIONAL,
-THE BRAND WAS
-MARC BY MARC JACOBS
PRIVATELY HELD COMPANY
LAUNCHED IN 2001
ENCOMPASSES
CREATED
WITH
CLOTHING
BY
THE GOAL OF MAKING AN
FOR
MARC JACOBS AS A SEC-
AFFORDABLE &
BOTH MEN & WOMEN,
ONDARY LABEL TO HIS SELF
ACCESSIBLE READY-TO-
ACCESSORIES, HANDBAGS
TITLED COUTURE
WEAR LINE BRINGING IT’S
AND SHOES
COLLECTION
OWN UNIQUE FEATURES TO
B R A N D
Marc by Marc Jacobs, although officially a diffusion brand of Marc Jacobs, has successfully creating it’s own niche and brand identity in the market. It’s worldwide presence has been inevitable due to the way the brand is marketing and presented in it’s quirky street inspired aesthetic from it’s early days. Marc by Marc jacobs consistency in branding has played a major role in building it’s brand image in the eyes of it’s customers. Some key words that the brand lives by are:• CONTEMPORARY •MODERN •STREET
“I LIKE TO BELIEVE THAT THE WOMAN WHO WEARS MY CLOTHES ARE NOT DRESSING FOR
•YOUTHFUL •CONSISTENT
OTHER PEOPLE, THAT THEY’RE WEARING WHAT
•EDGY
THEY LIKE AND WHAT SUITS THEM. IT’S NOT A
•BOLD
STATUS THING”
•PLAYFUL
-MARC JACOBS
I D E N T I T Y 5
D E S I G N E R S 6
KATIEHILLIER - LUELLABARTLEY Successful accessories designer and creative consultant, Katie Hillier, is a fashion force to be reckoned with. She runs her own jewellery and accessories line, Hillier London , and has recently been made creative director of Marc by Marc Jacobs.
of Marc by Marc Jacobs. Luella Bartley is a phenomenally successful force in the fashion world. Turning her hand to both writing and designing , she has won herself a multitude of fans in both fields. After taking a break from design, she has recently taken charge of Marc by Marc Jacobs alongside Katie Hillier.
Hillier was born in Greenford, West London and went on to study fashion at the University of Westminster, Bartley was born in 1974 in Stratford where she was inspired by visiting Upon Avon where she lived until lecturers including John Galliano and enrolling in London’s Central St Martins College of Art and Design. Clements Ribeiro. With a career spanning over 10 years, Katie Hillier is widely regarded as a pre-eminent accessory designer and creative consultant, and counts luxury brands such as Stella McCartney, House of Holland and Victoria Beckham amongst her elite list of clients. In May 2013 Katie was appointed as Creative Director
Admitting to The Guardian that she was a “late starter” when it came to fashion, she graduated with a golden circle of contemporaries around her including: Giles Deacon, Stella McCartney and Katie Grand. Bartley began her career in fashion not in design but in journalism, writing for Vogue, The Evening Standard, The Face and Dazed & Confused
PROVINCETOWN SAVANNAH CHICAGO NEW YORK
-BETWEEN HIS MARC JACOBS COLLECTION AND MARC BY MARC JACOBS STORES, HIS COMPANY HAS A PRESENCE IN 35 COUNTRIES THROUGH BRICK&-MORTAR STORES - THERE ARE 11 MBMJ STORES IN THE UNITED STATES -MBMJ HAS A HUGE ONLINE PRESENCE THROUGH THEIR E COMMERCE AS WELL
LASVEGAS BOSTON LOSANGELES SANFRANCISCO 7
The MBMJ online Ecommerce website was launched in 2010.the website was relaunched in 2013. The wesite has a high impact visual design, is user-friendly with ease of naviagation.These features and the overall aesthetic of the website plays a role in attracting tech-savvy customers of MBMJ •Larger product images and swatches, improved menu browsing enhanced for widescreen and HD displays •Complete social integration •Logins with Twitter & Facebook for commenting, ‘liking,’ sharing •The fashion industry’s first Tweetbox widget, providing instant social interaction •Customer engagement, interaction and share functionality via Facebook, Google+, Twitter, Pinterest, The Fancy, and Svpply •Comments and reviews section on each product page EXPANDED SOCIAL AND PRODUCT ANALYTICS •Customizable, shareable MyMJ Wishlists •Counters and Metrics for Pinned and Google+ or facebook-liked products
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E C O M M E R C E
C U S T O M E R 9
JEREMY 24 EXPERIENCER LONDON, UK JEREMY IS A FASHION AND LIFESTYLE BLOGGER BASED IN LONDON. SHE GOES TO GRAD SCHOOL AND WORKS PART TIME IN A LOCAL COFFEE SHOP. SHE IS A FREE THINKER AND A CREATIVE INDIVIDUAL WITH AN ELECTIC PERSONALITY. SHE BELIEVES IN STYLE, NOT TRENDS.
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M E E T J E R E M Y
C U S T O M E R
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4 1. Museums & Exhibits 2. Art Basel/ Miami Beach 3. New York City 4. Bold and trendy style 5. Subways
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6. Little Dragon- Enigmatic Swedish electro-pop band 7. Eliza Doolittle - london based bouncy pop singer 8. Photography/ Blogging 9. YAAKS- 80’s inspired band known for their bouncy beats and textured melodies 10. Vintage stores 11. City bikes 12. Cologne Etat Libre d`Orangeby Etienne de Sward
L I F E S T Y L E
JEWELLERY AND HAIR
P R O D U C T
SHOES
WATCHES
BAGS AND WALLETS
READY-TO-WEAR
BACKPACKS, HOBOS, TOTES
TECH AND CASES
SCARFS, BELTS, HATS, GLOVES
EYEWEAR
C A T E G O R I E S
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STRENGTH
WEAKNESS
• Strong knowledge of target customer style
• Limited number of stores and their location
• Branding, messaging, and aesthetic through advertising campaign • Conveys a strong sense of edgy street style through store environments and merchandise
OPPORTUNITY
• Sprng 2015 Fashion Week industry trends • Increase sales voume to obtain company IPO • Continue to innovate and drive social media initiatives and create outreach to current and potential customers to compete with competitors 14
S W O T
• Could be perceived in mass market as having limited appeal through customer base • Limited capital to grow footprint
THREAT
• Other companies that offer similar selection with access to greater resources • Perception of trend offerings • Breach in e-commerce security
Judging by the company’s strengths, weaknesses, opportunities and threats, we concluded that the company is very concise in the understanding of the select demographic and range of customers that it serves. Their increased Sales volumes over the years have led to the company considering an IPO ( Inital Public Offering. However, Marc by Marc jacobs would need to expand their access to capital which would result in an IPO and subsequent long term company growth. Limited number of stores and their location - 11 U.S. brick and mortar locations current customers well, however they put a cap on
expansion which limits growth and exposure to new customer base through the online checkout process. A breach in this could be detrimental to the success of the company and the image of the brand, ultimately effecting the gain of an IPO. One of the largest potential threat to the company is the possibility in breach in security via hacker or credit card fraud. Since 50% of the transactions held by the company take place in the e-commerce market, they need to focus on creating a safe environment for shoppers through the online checkout process. A breach in this could be detrimental to the success of the company and the image of the brand, ultimately effecting the gain of an IPO.
S W O T A N A L Y S I S
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C O M P E T I T O R S 16
During an analysis of possible competitors from worldwide that occupy the same market space as Marc by Marc Jacobs. These companies were assessed due to the commonalities such as customer, price point, selection, overall design and aesthetic, among others. As a result in their similarities consumers look to these retailers when looking for a specific item. Hence Zara, Nasty Gal, TopShop,ASOS were the four top retailers that we draw a brief comparison with highlighting their products, yearly revenues, price points and location base as well customer reach. In addition to the similarities in product and price, the competitors previously mentioned also share the same marketing strategies as Marc by Marc Jacobs. Their advertisements are comparable due to their aesthetic, feel and overall look. They are also social media savvy. Consequently this attracts the same kind of customer.For Example, one of our competitors, Zara is one of the largest international fashion companies. It belongs to Inditex, one of the world’s largest distribution groups. The customer is at the heart of our unique business model, which includes design, production, distribution and sales through our extensive retail network.
Industry: Retail Founded :Arteixo, Galicia (Spain) (May 24, 1974) Founders: Amancio Ortega Rosalía Mera Headquarters: Arteixo, Spain Number of locations:2,000+ stores & Ecommerce Area served: Worldwide Revenue Increase: €7.071 billion Price Range- $40- $400
Industry: Retail, fashion Predecessors: Peter Robinson’s Founded :1964 (Sheffi eld) Headquarters: London, United Kingdom Number of locations:approx 500 shops across 37 countries Net Income : £ 2,735.70 million Price Range : £8 - £ 450
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Type: Private Company Industry: Apparel Founded:2006 Headquarters: United States Founder: Sophia Amoruso Net income: US $24 million Price Range: $10- $525
Type: Public Industry: Clothing retail Founded: June 2000 Headquarters: London, England Stores: Ecommerce Revenue: ÂŁ753.8m Net income: ÂŁ29m Price Range: $6 - $560
S T Y L E I D E N T I T Y
COLORS -Sunny -Lush Shades -Bright Colors-Blue, yellow, losbter, ivory, black and white. PATTERN -Color blocking -Stripes -Dotted -Letters FABRICS -Silk, Cotton, Cashmere, Sheer, High Tech, Compact
SILHOUETTE -Clear cut -sharp lines -mid-length skirts -ankle-length trousers -high waistlines OCCASION OF USE -daily/leisure wear -informal -casual
HOW DOES AN MBMJ CUSTOMER SHOP?
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Marc by Marc Jacobs have a strong approach to branding and packaging. Their products are marketed with a consistent brand image that is very well in tune with the aesthetic of MBMJ.
WHY DOES SHE SHOP AT MBMJ ?
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The repeat pattern of the MBMJ logo and its monogrammed printed linings of laptop sleeves and quilted totes as well as backpacks and headphone packing boxes have been the brands selling point for a few years now. Their traditional industrial inspired metallic labels with MBMJ etchings are found on hobos, crossbodies, clutches, wallets and totes.These metallic labels have also been recreated in acrylic depending on the look of the product and are proved to be popular with the MBMJ customer.
B R A N D I N G
A D V E R T I S I N G
Marc by Marc Jacobs’ signature style vibrates with an energy that bounces off his customers, reflecting the wearers’ unique personal. He chooses models who are slightly “off” in the fashion world and yet are immediately recognized as Marc by Marc Jacobs’ muses. Their sassiness, slightly deranged look highlights certain aspects of the garment they wear. His advertisement campaigns are immediately recognizable as they are true to his vision and style and they are always consistent. Consumers flock to the originality of his designs, perhaps (unconsciously) assuming that their uniqueness will also shine in his designs. The originality, the eccentricity and the spirit of self ironically are selling points for the consumers – they long to be distinct and Marc by Marc Jacobs designs will be a distinct step , not only in their fashion, but in their lifestyle as well. The contrast between normal everyday life and the incongruous designs is most certainly another selling point. 21
Marc By Marc Jacobs Spring 2008 Campaign
SOCIAL MEDIA Marc by Marc Jacobs takes full advantage of every aspect of social media. Facebook, twitter, Instagram and Tumblr are strategically used to attract a certain type of customer. Presently, Instagram is their main source of interaction with the public.Later in the book- some of these campaigns have been highlighted more in detail 22
M A R K E T I N G
COMMUNICATION The company is strategic, using certain celebrities to create the energy and hype around their collection. These celebrities, such as Alexa Chang, sit in the front row of the fashion shows wearing the brand and making it real for the rest of the audience. These same celebrities are then featured in magazines, in blogs and perhaps even send a twitter or two. Marc by Marc Jacobs’ conversation with the public is visible, state-of-the-art and, once again, effective in attracting loyal customers. Additonally, celebrities like MIA (Spring, 2008) and Ben Affleck ( King Magazine, Dec 2008) have acted as the face of the brand and popular Tv shows like Gossip Girl use Marc by Marc Jacobs clothing that gives them the brand not only required exposure but plays a big role in attracting customers that are fans of the show
Marc by Marc Jacobs on hit TV show Gossip Girl
# C A S T M E M A R C
Back in April, Marc Jacobs launched the Twitter and Instagram-based initiative to hunt down new faces for Katie Hillier and Luella Bartley’s first autumn/winter campaign since the pair joined Marc by Marc Jacobs
“We wanted the ads to shout with youth and energy... To be fresh and reclaim the spirit that the collection had when we first conceived of it – to be another collection, not a second line.” - Luella Bartley 23
S O C I A L M E D I A
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“The short quirky videos are a great extension of the brand, translating it into the everyday reality without losing that signature Marc Jacobs fun aspect”
“People might identify with a store manager much easier than with a celebrity, and the high engagement on these videos is a sign that Marc Jacobs is onto something.”
Rather than cast models for its fall 2014 ads, Marc Jacobs’s lowerpriced Marc by Marc Jacobs line put fans in the campaign – all of which were found on Instagram. Nearly 70,000 fans entered the casting by posting a photo of themselves to Twitter or Instagram with the hashtag #castmemarc. The line's newly-installed designers Luella Bartley and Katie Hillier worked with casting director Anita Bitton, to narrow the lot down to 30 finalists, which were then whittled down to just nine models.The campaign stars, who hail from locations around the globe like South Korea and Australia, were flown to New York to shoot the campaign with photographer David Sims and stylist Katie Grand.The fall 2014 collection which these Instagramcasted ads represent marked their debut for the label.
S O C I A L M E D I A
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“YOUTH IS WASTED ON THE YOUNG, BUT FASHION HAS A WAY OF YANKING IT BACK.” -New York Times
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N Y F W S S 1 5
Muted Edgy Minimal Functional Urban Confident Oversized Clean Utilitarian Retro Street
The 2015 Spring/Summer collection brought forth by Marc by Marc Jacobs was one that was sure to impress and left guests taken back to a younger mindset. In a review of the collection by the New York Times it was said that “Youth is wasted on the young, but fashion has a way of yanking it back.” With bold prints and edgy finishing touches the over all look and feel of these pieces is urban and utilitarian all the while giving off a confident vibe by those who wear it. In speaking to the collection, Style.com reviews it to be comprised of “polka-dot skirts, tiny bandeau tops, capelets, and nurse-y stockings, and it delivered a sensationally perverse accent to underscore the collection’s utter girl-gang confidence.” The models were styled with little make up, a basic top knot hair style, and small mostly hand held accessory pieces. Women’s Wear Daily dubs the collection by Katie Hillier and Luella Bartley to be “young, fierce and intense, the powerful attitude established for fall gained momentum for spring.” Among all of the designs, the stand out element that made the collection cohesive was the minimalist take that the pieces possessed. 27
A C C E S O R Y 28
The styles and trends that represented in the Spring/Summer 2015 collection can be analyzed and transferred to accessories that are found by and purchased by the company’s buyers. It is easy to see that through these pieces, bold color block placements as well as oversized prints such as polka dots would easily transcend onto a tech case or wallet. The utilitarian features shown within the MBMJ clothes can be pulled into buying functional bags that have accessible openings and pockets with thick sturdy straps. The use of sheer fabrics in clothing as well as high tech fabrics such as PVC plastic bags and rubber
boots can be seen as trends that we, as buyers would certainly pick up to be sold in stores. These pieces from the runway, were sported in several looks of the Spring 15 collection and are true to MBMJ’s aesthetic and it’s customer base. These can be seen as trends that would be incorporated into our accessory line and sold in the market. The high gloss look in vibrant colors can be seen as an addition to the accessory line in tech, jewelry, clutches, among others. The overall look and feel of the collection that was presented will lead the buyers on the right track to equipping the Marc by Marc Jacobs stores with pieces that will motivate customers to buy.
T R E N D S 29
K E Y T R E N D S 30
Users can send their NYFW snaps to the account “Fashion Week in NYC,” which had automatically been added to this reporter’s friend list. We were unable to send any snaps from our Midtown office. A Snapchat spokesperson has informed us that users needed to be at Fashion Weeksanctioned event to
“We know a lot of artists that wear our clothes, and we are inspired by their music. Many collections over the years have been inspired to some degree or another by a song. Marc [Jacobs] is probably the most knowledgeable person I know when it comes to music of all kinds.” -Robert Duffy, international presdent,MJ
I N S O C I E T Y
T H E F U T U R E
WHAT ARE THE DESIGNER’S SAYING?
“IT’S BECOMING AN IDENTITY AGAIN. I REMEMBER THE FIRST COUPLE OF MARC BY MARC COLLECTIONS FELT TOUGH AND COOL, AND YOU WANTED TO BE THAT PERSON. SO WE TOUGHENED IT UP WITH MORE TAILORING AND A GRAPHIC MANGA FEMININITY, AS OPPOSED TO SOMETHING GIRLY. THAT’S WHERE THE BOW COMES IN, NOT A PUSSY BOW, BUT A MANGA BOW. AND THEN YOU PUT A LITTLE CAPE ON IT AND TAKE IT SOMEWHERE ELSE. IT’S A CHARACTER-DRIVEN COLLECTION”
“ONE THING MARC WANTED TO BRING BACK WAS THE QUALITY OF THE FABRIC, THE QUALITY OF THE MAKE. EVEN IF IT WAS A T-SHIRT, HE WANTED IT TO FEEL LIKE IT WAS FROM THE SAME WORLD AS THE MARC JACOBS COLLECTION. WE’VE TRIED TO BRING THEM CLOSER TOGETHER, IN TERMS OF THE SENSIBILITY.” -KH
O F M B M J
-LB
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MARC BY MARC JACOBS - 6 MONTH BUYING PLAN SPRING 2015
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S A V A N N A H
N E W Y O R K
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A S S O R T M E N T
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WOMENS ACCESSORIES %BREAKDOWN
BAGS AND WALLETS %BREAKDOWN
P L A N S
C L O S I N G
In our closing statement of our Six Month Buying Plan for Marc by Marc Jacobs stores for upcoming spring 15, as buyers for the accessories- we see a high percentage increase in the sales of our products, as the company is still in a rapidly growing stage. We certainly see our buying plan numbers as an opportunity plan for Marc by Marc Jacobs. The numbers presented in the buying plan are believed to create a positive end result for Marc and Marc Jacobs. The reward that is to be gained by the company due to the percentage increase for the Spring 2015 sales season in the category of accessories,will be in terms of increase in revenue and subsequent capital gains. In order to obtain an Initial Public Offering the company needs to strive for a gross increase in sales which will ultimately result in company growth.
S T A T E M E N T 35