6 MONTH BUYING PLAN
TED BAKER SIX MONTH BUYING PLAN
CAROLINE WILD | MADISON BRANDLI | TORI PENAHERRERA
Table of Contents
Mission Statement History Scope & Size People & Location Target Market Marketing Strategy SWOT Analysis Perceptual Map Top Competitors Political Trends Ted Trends US Womens 6 Month Buying Plan NYC Soho Assortment Plan Boston Assortment Plan
Brand Identity
Everything produced under the Ted Baker name has Ted’s personality woven into it’s very heart and we always ask ourselves the question...
Would Ted do it that way?
History
Before “Ted Baker” started his brand, he had a passion for travel. He was about setting trends, not following them, and doing things his own way. When he began Ted Baker, he used his travels as inspiration, but used his British roots to make the company soar. In 1988 Baker returned from his travels to the UK, and launched as a shirt specialist in Glasgow. The quality of his men’s shirting spoke for itself; people thought it was some of the best men’s shirting around. From there, as he expanded his brand, he had a clear focus of what he wanted his brand to be about. Quality was a main part of what got him recognized, so he knew that would be a key aspect of his brand. He also has an incredibly quirky sense of humor, and that made him stand out among the rest. Back when he was selling only shirts, he provided a laundry service for every shirt purchased, and this unorthodox method earned him the title of “No Ordinary Designer Label”. He puts his personality into everything he does which truly sets him apart.
Scope & Size
Total Annual Sales $519.2 Million USD 16.4% Increase from 2016
E-Commerce
15.4% of Retail Sales
North American Annual Sales $134 Million USD
Size of UK Womenswear Market $29.1 Billion USD
Ted’s Market Share
0.4% of UK Womenswear Market
People & Location
Tedquarters
London, England
Board of Directors
Ray Kelvin, CBE (Closest Man to Ted) Lindsay Dennis Page, MA, ACA Ronald Steward, FCIB Anne Sheinfield, Non-Executive Director Andrew Jennings, Non-Executive Director
Number of Employees 2955
Number of Stores North America: 111 UK: 192 Europe: 98 Middle East & Asia: 80 Australasia: 9
Target Market
General Target Market Men and Women ages 25-45 Sophisticated, educated Business Professionals Middle or Upper Class Interested in fashion and trends Brand Conscious Motivated by quality
This is Ted Baker’s Target Customer No. One, Clara 42 years old Lives in Manhattan and spends her summers in the Hamptons CEO of Public Relations Firm Married with one child She is active, invested in her work and family, and needs her wardrobe to be as versitile and professional as she is She shops at Barney’s, Kate Spade, Bloomingdales, and Lululemon
This is Ted Baker’s Target Customer No. Two, Mariah 28 years old Lives in an upscale urban or suburban apartment Well educated Holds a white color job She is independent, sophisticated, and values quality over price She shops at Kate Spade, All Saints, Tory Burch, and JCrew for basics
Marketing Strategy
One of the most unique aspects about Ted Baker’s brand today is that he approaches advertising the old fashioned way. He doesn’t use traditional advertising; he much prefers word of mouth or wacky sales promotions. His company does, however, have social media accounts and campaigns that run through those, but this type of advertising ties in well to his quirky methods. His store incorporates witty, eclectic window displays, and they have unique events every so often.
Key Competitors
prestigious pricing
mass market
exclusivity
moderate pricing
Total Annual Sales $118.3 million USD
United States Annual Sales $24.8 million UDS US retail
Number of Stores 133 Total 4 US Stores
E-Commerce
23% of Retail Revenue
UK Womenswear Market Share 0.2% of the Market
Business Premises
London, New York, Paris, Dusseldorf, Hong Kong, Toronto
French Connection was founded in 1972 by Stephen Marks who is still the current CEO. The basis of his brand is to be original, distinctive, and accessible. Their main promise to customers is to “balance new ideas with the basic promise of quality and affordability.� French Connection is also built around a bold, witty, and intelligent personality driven by innovation and change.
Kate Spade New York is an Ameri-
can lifestyle brand founded in 1993 by Kate Brosnahan Spade. The brand, which began as line of handbags, has expanded into a global seller know for its structured silhouettes and use of bright colors. In 2007, Deborah Lloyd took over as the president and Chief Creative Officer, while Craig Leavitt took over as CEO. The company was recently bought by Coach as well.
2015 Net Sales 1.2 Billion
Number of Stores
208 Total 104 US Specialty Stores 13 US Outlet Sores
Number of Employees 3,600 Full Time Employees
US Designer Apparel Market Share 0.6 % of market
RALPH L AUREN Ralph Lauren began his eponymous company with a single collection of ties 40 years ago in NY, NY, and it has since redefined American style and grown into the iconic label that it is today. Creating quality products has always been a key component of his business, and his company takes responsibility for being innovators when it comes to incorporating lifestyle advertising into his brand. They aimed to tell a story with their brand, and this story encourages customers to participate in that lifestyle. Ralph Lauren Corp (RLC) is a global leader in design, marketing, and distribution. The four main categories they succeed most in are apparel, home, accessories, and fragrances, but they have many other licensed products. RLC brands include Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Double RL, Polo Ralph Lauren, Lauren Ralph Lauren, Polo Ralph Lauren Children, Denim & Supply Ralph Lauren, Chaps and Club Monaco. Executives: • Ralph Lauren, Exec. Chair, Chief Creative Director • Valérie Hermann, President Global Brands
Total Annual Sales for 2016 $7.41 Billion
Number of Stores
Over 460 worldwide; they do more wholesaling to department stores
US Womenswear Market Share Percent and Value 0.9%, $80.13
Gross Income for 2016
$4.35 Billion, steady increase of about $100,000-$200,000 each year
Brand Segments
Wholesale, Retail, Licensing
SWOT Analysis
STRENGHTS
WEAKNESSES
High Quality
Non-traditional Advertising
Wide Product Assortment
Not Size Inclusive
Rapid Overseas Growth
Little Brand Recognition
Price is Moderate
Occasionally Outdated
THREATS Global Expansion Athleisure Market More Traditional Advertising
OPPORTUNITIES Growing Competition Brexit
Ted Trends
Political What does Brexit mean for Ted? • Potential rise in the cost of imported raw materials • Potential rise in tariffs on exports • Potential loss of protection of intellectual property • Rise in cost of protecting intellectual property • Potential loss of employees do to work permit agreements • Potential rise of retail prices
Marketing Launching a 360 degree shoppable film experience •
Using social media to build hype around its new
collection •
“Keeping up with the Bakers”
•
suburban utopia
•
family of four, sporting Ted’s new and classic looks
•
stylish adventures in the new neighborhood
•
sneak preview 1 month before launching
•
invited followers to become the Bakers’ “virtual nosy
neighbors” •
social challenges which lead to winning prizes
•
humorous context
•
attempting to innovate and reach best-in-class
standards for
social media marketing
•
check “story daily” to see prize winners
•
experience can be had across Ted Baker Site and its
retail partners uch as ASOS.com and Nordstrom.com
Retail
Ted Baker recently launched a golf collection in order to challenge the somewhat strict and boring dresscode for golfers. This line includes bright colored apparel with fun designs, and is aimed to allow golfers to express themselves more freely while staying within the guidelines. This line also includes technical sport fabrics such as GOLFTRO which is a water repellant fabric used for the trousers, and features a taped inner waistband to keep the shirt tucked in.
6 Month Buying Plans
Total North American Womenswear Buying Plan Spring/Summer 2018
Total North American Womenswear Assortment Plan Spring Summer 2018
Soho Store Assortment Plan Spring Summer 2018
Boston Store Assortment Plan Spring Summer 2018