AUTUMN / WINTER 2012-13
Yeajee Sung
Concept Development WORD COUNT : 4,463
CONTENTS COMPETITORS ACNE Alexander Wang McQ FINSK Balenciaga Givenchy INTRODUCTION
4
THE BRAND Ethos Values
5-6 5 6
RANGE PLAN
7-9
PRICE ARCHITECTURE
10-11
THE CONSUMER Consumer questionnaire analysis
12 12-14
Consumer
15
Consumer board
16
Direct consumer
17
Indirect consumer
18
THE MARKET
19-21
S.W.O.T analysis
20
Market positioning map
21
Nicholas Kirkwood PRODUCTION Supply chain map Costing
22 23-25 26-29 30-32 33-36 37-39 40-42 43-45
46 47 48
Sales
49-52
THE COLLECTION Mood board Colour board
53 54 55
TREND
56-57
APPENDIX
58-59
BIBLIOGRAPHY
60-61
INTRODUCTION YEA : JI SUNG is a contemporary footwear designer brand that creates conceptual and architectural, yet accessible footwear for women. The brand is aimed to show uniqueness on its designs but still keeping some elements of commerciality in order to approach a wider range of consumers. For brands’ debut Autumn/Winter 2012-13 collection will be presented with 10 styles. The first collection is inspired by art movement from the 20th century focusing on the Art Deco. Looking at the furniture produced from shops like BAUHAUS focusing on the forms and functional details. But still looking at different aspects such as colours, forms, materials, textures, concepts, and purposes. The design style is mainly focused on the shapes which then allow the design to look more architectural and contemporary.
YEA : JI SUNG the brand wants to have a wide consumer demographic not aiming to a specific target market depending on whether the individual connects with the brand and the designer’s artistic vision, however ideally will be marketed towards 2 separate consumer groups which are age groups of 35+ and 25+ respectively.
The label will be distributed at some retail stores nationwide in the U.K but also at few selected stores worldwide. From department stores to online stores, consumers will be able to reach YEA : JI SUNG’s products.
As YEA : JI SUNG will be marketed as an affordable premium designer brand, the main competitors are those who also share similar brand values and style. By exploring 4 direct/ 3 indirect competitors, the label would expect to find the ideal directions of where the brand must go in the future.
4
THE BRAND
Logo
Ethos
YEA : JI SUNG is a contemporary designer footwear brand that creates conceptual and architectural, yet accessible footwear for women. The brand is not the typical designer footwear brand that we see today, but a brand with more understated subtle luxury items and quality mixed with unique design.The designs take inspirations from architectural/sculpture shapes with influences from technology, modern, and unique notions. The brands is not aiming for a totally commercial look but still being simple. Mainly focused on shapes which then allow the design to look more architectural and contemporary. YEA : JI SUNG is a contemporary brand that features strong editorial pieces as well as more commercial designs, to cater for a wider range of customers. YEA : JI SUNG’s designs will feature high quality leathers and exotic materials in addition to a number of new materials and technologies that are available today. They are to be found in the designer’s shops, independent stores and some of the more exclusive department store.
5
Values
YEA : JI SUNG the brand has adopted the following values in order to reflect the commitment in providing premium designer footwear to its consumers.
6
Range chart N e w
Style name
RANGE PLAN
High boots - High heeled
i d e a
I n d u s t r i a l
a p p e a l
M a i s n t r e a m
T o t a l
P r i l c e e v e l
1 1
Mid level
- Mid heeled
Ankle boots - High heeled
2
Ultra / Mid level
- Mid heeled
2
High-end / Entry
Booties
YEA: JI SUNG’s first collection focuses on “ten fashion statement pieces”-
a tight group of boots (three different kinds of boots: ankle, bootie, high), sandals, and pumps that all work together and communicate the same message of sculptural, craftsmanship, and style from day to night.
The first collection is for Autumn/Winter 2012-13, which will consist of 10 different styles in total, with 2 limited edition design (1 x highheeled ankle boots and 1 x high-heeled pumps) and 8 ready-to-wear collections. These 8 pieces of ready to wear collections will be a toned down version of the two editorial pieces in order to be more approachable to consumers.
4
2
- High heeled
1
Mid level
- Mid heeled
1
Entry
Pumps
2
- High heeled
1
High-end
- Mid heeled
1
Entry
Sandals - High heeled
1 Mid level
- Mid heeled
7
However, the range will include up to 20 designs with each having various colour way options. Whilst the range will be predominantly Mid and High Heel styles, which is considered as a proper way to represent architectural shapes onto heel. With careful consideration, this range has been designed to meet the requirements of the 3 different target consumers’ that have been identified. From the more fashion conscious consumer to the consumer in search of more classic shoes, this range will be made up of a selection designed to fit with each of their needs. Initially the focus of the brand will be predominantly fashion orientated in order to get the brand noticed, and gradually overtime as the brand develops and strengthens, more classic pieces will be added. * New idea : Press editorial / Limited edition pieces * Industrial appeal : Build ties with influential industry circles * Mainstream( consumer appeal) : Ready-to-wear pieces with tone-downed version of designs from the upper class
The brand will feature its signature piece that lie in an attribute of the shoes that is not subjected to fast-moving trends. For example, regardless of the colour and trims each season, yeajee sung’s shoes will have an own cut style and fit that stays consistent from season to season.
8
Signature driving shoes from TOD’S
Example of brands’ signature shoes : Nicholas Kirkwood’s signature shape of platform (Left) : Suede camel platform “Egypt” (Above right) : Santa Maria platform for Liberty, London (Right) : Spring 2011 collection
Over time, certain best sellers might naturally evolve into signature items. They can be carried over from season to season by keeping them fresh through subtle changes in colour, leather, or design. In terms of quality, it is a combination of the craftsmanship, materials, and finishing of the product. Designer of the brand will study quality by looking at a wide range of footwear from designers she admires. When developing footwear line, brand is aiming for the highest quality possible for its price.
9
The chart below is the brands’ price architecture :
PRICE ARCHITECTURE The price of each product must accurately reflect its value and quality.
Ideally the YEA: JI SUNG footwear would want to position itself in the premium designer footwear market alongside other competitors such as Acne, Alexander Wang, and Finsk who are all relative newcomers. (They have lesser than 10 years of experience in the fashion industry) From the research carried out on four direct competitors, it showed that entry level pricing ranged from £215 to £360, with mid level pricing ranged from £340-£595, and high level pricing ranging from £650-£895. As YEA: JI SUNG label has a low name value compare to its competitors, it is considered that brand will set their price architecture at a slightly lower level in the beginning of business. This does not mean that YEA: JI SUNG’s footwear has less product value than the other competitors footwear.
10
Price
Entry level
Mid level
High-end level
Ultra Style Price
Entry level: - Targeting at a niche market of young customers who have a more refine taste in their footwear and that means to pay for them. - This price lever serves to introduce a younger customer to the premium designer market, in hopes of retaining the coveted consumer loyalty. - Pieces include: simple flats, sandals, pumps and more... (depending on the style and used material) Mid level: - Tone downed version of editorial pieces from the seasonal collection. - Pieces include different kinds of boots, pumps, sandals, and more High-end level: - Products are made with better components, new technology - Pieces are targeted at the mid-level luxury footwear market
High-heeled High-heeled Mid-heeled High-heeled Mid-heeled High-heeled Mid-heeled High-heeled pumps pumps sandals booties long boots ankle boots ankle boots booties
£ 220 £ 270 £ 300 £ 350 £ 420 £ 500 £ 650 £ 1,050
Chart above : The targeted retail price for the first A/W 2012-13 collection
Ultra: - limited edition - collaborative pieces with other artists or brands - available on the special place of distribution( i.g. limited countries and shops)
11
THE CONSUMER
Consumer Questionnaire Analysis
It is essential that understanding consumer behaviour enables the selection of appropriate promotional message.
From the results of the questionnaire that was completed by 20 female shoppers at a number of key London retail hotspots it has been possible to obtain a substantial amount of relevant data from the 7 questions which were asked.
Recognising this, brand designer is researching the consumer more to see what will be acceptable before planning the products range for footwear. In order to this, the online survey with 22 respondents has carried out, and questionnaire which directly asked people has also conducted with 20 respondents in some of major fashion retail shops such as The Shoe Galleries of Selfrides, Browns, and Dover Street Market in London.
12
Q1 ) In which age group do you belong?
Q4 ) what is your main priority when purchasing designers’ footwear?
As well as factors which those questioned considered to be important when purchasing a pair of designer shoes, such as individual/ unique design features 47%, Quality 25%, Fashion trends and Technical 9% respectively and Price 7%, it was clear that people consider design of shoes mostly when they purchasing designers’ footwear. Q3 ) On average how much would you spend annually on designers footwear?
Q5 ) Where do you mostly purchase designers’ goods from? With a high percentage of consumers has accounted for 83%, most women purchase designers’ goods from the department store and Boutique & Speciality stores. This result clearly gives a clue that the lable YEA : JI SUNG will need to distribute her collections to these retailers.
13
Q6 ) Where do you mostly get the information about young designers? The figure shows that women get most of information about the newcomers through fashion magazine with a percentage of 37%. Online source is accounted for 29% which is next biggest way that people get the information. Taking these facts into consideration, it is essential that the brand should promote its collections by using online and offline methosto approach to the publics.
Q7 ) Regarding to the quality of designers footwear, how would you rate the importance of where ( other countries) the shoes have been manufactured? In this result, consumers do not really consider the place where the shoes are manufactured when they purchase the designer footwear. But there are number of people who put the importance on the region of production when they purchase the shoes. Therefore, brand will carefully choose the manufacturer under a balance between quality and the needs of brands’ business.
14
Consumers
Based on key factors taken from the results of the questionnaires it has been possible to form the identity of the consumer that the brand would expect to purchase its shoes.
Nowadays, consumers of all descriptions are more fashion-educated and consequently more fashion-conscious. They understand fashion cycles and they know when a style has become tired. Most of them want to express their personalities through their appearance and therefore their choice of clothing. Thus, they are demanding products that are designed to perform in many occasional ways. According to research about the premium clothing market -which is yeajee sung will be sit- by Barclays Corporate, there is a subtle shift in consumer mindset which is taking shape. That said, consumers want quality as well as value, and are happy to trade up to buy statement pieces. In other words, there are changes in the marketplace affecting consumers’ attitudes, values and priorities. Consumers are looking for value for mon-
In considering the above issue, footwear brand YEA : JI SUNG is aiming to have a wide consumer demographic not aiming to a specific target market, depending on whether the individual connects with the brand and the designers’ artistic vision.
ey, not totally price driven but design, comfort and quality are important. Not only this, but it can be interpreted that people are more self reliant and cautious and careful for their individuality. Someone who may connect with the designer’s visions and purchase YEA : JI SUNG footwear may be identified:
- - -
Urban prosperity Fashion forwards yet not a fashion victim Seeking for individual and unique style
15
CONSUMER BOARD
Stylish Urban
Unconventional
Powerful
Eclectic
16
Direct consumer : women aged 35+
The older consumers in this group (+45) is made up of wealthy working families with mortgages, wealthy commuters and well off managers with large house whilst the younger professionals generally are buying or renting flats.
They generally own approximately two cars per household and work in managerial or professional roles.
They are typically preferring to wear mixed fashion leading more towards designer labels, which suit an individual style. On average spending between £400 -
The footwear brand YEA :JI SUNG is mainly targeting professional women aged 35+.
It includes well off suburban profession-
£700 on a designer pair of shoes every 2-3 months, preferring to shop in department stores and boutique or specialty store.
als and affluent urban professionals,
Women in this consumer group tend to be particular about technical sides such as fit and comfort.
This consumer group is well educated and
This consumer prefers to wear a variety of flat, mid and high heels depending on the occasion. This consumer group is quite well established high in the society and enjoys be-
singles or married with children.
living in the major towns and cities around the world. Their average income levels are between 50K – 70K.
ing a wealthy, confident consumer
17
Indirect consumer: women aged 25+
Women in this age group tend to be more
motivated by trends, brands, innovation, or luxury materials but focussed on the classics in design respects. Typically spending between £300-£400 on a designer pair of shoes about every 5 months, this consumer prefers to shop in boutiques, department stores and online, with a preference for
Indirect consumer will be prosperous and educated young professional
women aged 25+. Single or living with a partner in rented accommodation. This consumer has a household income of between £20-£45K. They usually prefer to wear mixed fashion depending what is current in the latest fashion magazines
high heels. This consumer does consider less about ethical or sustainable factors when purchasing a pair of designer shoes.
and what is being worn by celebrity icons.
18
“This is starting to be bome out by a subtle shift in consumer mindset which is taking shape. Consumers want quality as well as value, and are happy to trade up to buy statement pieces. That said, the value end of the market remain buoyant and enjoy continued growth.” - John Union, 2011 head of Wales
THE MARKET Brand YEA : JI SUNG clearly desire to occupy a position characterized by
‘premium, unique and well-crafted products’, in the premium or small luxury designer market as well as consumer’s mind. The premium market will be expected enjoy the strongest rate of growth in the clothing sector over the next three years, according to research by Barclays Corporate. “Despite slowing sales in recent months, the sector has defied recessionary trends, enjoying a 6.2% increase in growth over the past two years as an additional 3.4% of consumers moved towards buying fewer, more expensive pieces and mixing and matching with value items. The research estimates this segment of the market will grow from £9.9bn to £12bn (round 21%) during the next three years.” – Rhodri Evans, 2011 Western Mail
In relation to the YEA : JI SUNG label, there is evidence to suggest that the premium footwear market is not only stable, but is set to increase as shoppers are more turning towards high quality, investment pieces that will last.
YEA : JI SUNG’ designs are unique and produced in limited numbers. They are to be found in the designer’s shop, independent stores and some of the more exclusive department store. Yeajee sung is a conceptual, contemporary brand that sights its direct competitors as Acne, Finsk, Alexander Wang, and McQ, also having three indirect competitors as Balenciaga, Givenchy, and Nicholas Kirkwood who own a large share of market. These four direct competitors have quite similar styles and price points; however they do have some slight differences. As shown on the chart below, the entire brand vary in how conceptual they are and it can be seen that the price points vary somewhat. Yeajee sung is going to be quite a conceptual brand but the price points will not be as high as some of its competitors, it will be positioned somewhere in between where there is a small gap in the market
19
The brand will be suitable for a range of consumers of different ages,
●
Using celebrities to bring brand awareness
including those aged 25+ , 35+ and more
●
Selling abroad
●
Quality control is available by a designer
●
Using social network services such as Facebook, Twitter, Blogging site
●
Exclusive products
●
Chance to be exposed to press by challenging some fashion competitions
●
The price structure of the brand will be competitive and cater for
●
those with different budgets, with the aim to be more attractive to
around the world. ●
Exhibit at trade shows in the UK and abroad to create brand awareness
consumers. ●
With Asian background, easy to target the Asian market which is growing rapidly
Strengths Weaknesses
●
Language
●
Exchange rates between Korea and the UK
●
Lack of experience in selling in a foreign market
●
Less brand awareness
●
Producing abroad, incurring shipping costs and taxes
Opportunities Threats ●
Poor economy situation ( rising inflation and higher VAT)
●
Increased competitions and market saturation
●
Unstable exchange rates
●
Competition from more established brands, with better brand Opportunities:
●
Using celebrities to bring brand awareness
●
Selling abroad
●
Using social network services such as Facebook, Twitter, Blogging site
●
Chance to be exposed to press by challenging some fashion competitions
S.W.O.T Analysis 20
Ma r k e t P o s i t i o n i n g M a p
21
THE COMPETITORS
The conceptual design, technology and unique that define the brand are key in identifying the competitors.
They have been representing themselves an example of craftsmanship at its fines. They continue to use innovative/exotic materials throughout in every season’s collections. As YEA : JI SUNG will be marketed as an affordable premium designer brand, the main competitors are those who also share similar brand values and style. Furthermore, it is important to note that these brands not only have a similar feel but also have a similar price points. Designer brands include Alexander Wang, FINSK, McQ, and ACNE. In addition to this, identifying three luxury competitors those who own a large share of market include Balenciaga, Givenchy, and Nicholas Kirkwood. These three luxury houses have a similar supply approach and its stockist widely across the world, while yeajee sung’s direct competitors have fewer stockists compare to them. Not only this, but these two luxury brands have wider product range. They have ranges in clothing, bag, jewellery, and etc… (Just Balencia and Givenchy) By analysing these three luxury brands, it is expected that the data will guide a right direction where brand must go forward.
22
Direct competitors
LONDON ADDRESS Acne London Flat 5, 81 Curtain Road London, EC2A 3QT U.K. STOCKIST Acne London Studio, 13 Dover Street, W1S 4LN www.acnestudios.com
Swedish brand ACNE has founded in Stockholm in 1996 by four creatives, Acne's ambition was to create and develop a lifestyle brand through desirable products, as well as helping other people to build their brands.
“Fashion is the best form of self-expression. We like to design pieces that together form the coolest wardrobe, but is ultimately wearable. It becomes one way of thinking as individual pieces, but together creates a strong, modern and considered statement.” - Jonny Johansson, Acne’s Creative Director
The first full collection was launched in 1998, and it set the tone for the brand – the subtle luxury and understated items originates from the ethos that the clothes should feel like someone’s wardrobe. Cool and personal. The result is that nothing dominates anything else, yet every piece is effortlessly stylish. The brand has 1 flagship store based in London and their collections are stocked in 30 flagshipstores around the world.
23
Brand Values
Wearable ACNE’S SHOES FOR AUTUMN / WINTER 2011 COLLECTION
Minimal Quirky
Modern chic
Edgy
Product range Range size
13 styles for one collection
Range
Flats, High heels, Sandals, Booties, Boots
Size range
UK Ladies 3 - 8
Heel sizing
17.5mm – 130mm
Colour range Black, White, Grey, Brown, Blue, Wine Materials
Calf leather, rubber, wood, suede
Price range
£360 – £600
24
Store
Website
(left) : ACNE Studio, London store (below) : Inside of ACNE Studio, Dover street
The site allows visitors to view...
About / Press / Worldwide stockists / online shop / Seasonal collection images / Contact details /
Consumers who purchase the shoes.....
From left to right : Daisy lowe, Daphne guinness at ACNE Studio London launch party. Polly
25
Direct competitors
U.S.A STOCKIST 103 Grand Street New York, New York 10013 United States (212)977-9683 www.alexanderwang.com
Alexander Wang is New York-based designer launched his eponymous line in 2004 and quickly established a loyal following with his grunge-cool style mantra.
Fall for Wang's sleek directional tailoring, striking cocktail dresses and edgy accessories. Wang launched his first full collection of women's wear in 2007. Wang is known for his edgy, somewhat
masculine womenswear designs.
Forming the basis of Alexander Wang’s collection where clean, classic luxurious and refined silhou-
ettes are introduced to an urban street provocative ideal.
26
Brand values
Sensual
The style ethos in order to Alexander Wang shoes each special design
Urban
displays unmatched high quality plus an innate sensuality. From imposing sends filled Sends, Alexander Wang shoes will be the go-to brand name for womens’ explanation of the incredible heels and also accessories.
Grunge Edgy Minimal
Product range
The footwear range of Alexander Wang includes key pieces sandals, court shoes, ankle/high boots, and etc. there are some bright colours such as blue and red that the looks stand-out, yet they still keep the monotone colour palette such as black, white, and dark grey. They tend to use some exotic leathers and materials for their footwear range. Their price structure is at the top end keeps the brand very exclusive ranging from £760 at their highest, £410 at their mid range and £297 at entry level.
27
Store
Alexander Wang’s Autumn / Winter 2011 womens footwear collection (left, below) : Alexander Wang’s Flagship store in New York, U.S.A
Range size
21 styles
Range
Mid/High heels, Boots, Sandals, Oxford style, bootie
Size range
UK Ladies 3-7
Heel sizing
40mm – 110mm
Colour range Black, Grey, White, Blue, Red Materials
Calf leather, Fox fur, Suede, Lambskin, Cowhide
Price range
£ 297 - £ 760
Alexander Wang London stockists 1. DOVER STREET MARKET 2. FEATHERS 3. JOSEPH LONDON 4. KURT GEIGER LTD 5. LIBERTY 6. PRESS UK Ltd. 7. SELFRIDGES & CO. 8. START 9. TEA CUP
28
Consumers who purchase the shoes.....
Website WOMEN’S
LOOKBOOK
●READY TO WEAR ●T BY ALEXANDER WANG
STUDIO ● LASTEST NEWS
MEN’S
●VIDEOS
●READY TO WEAR
●CAMPAIGNS
●T BY ALEXANDER WANG
●BIOGRAPHY
ACCESSORIES ●SHOES ●BAGS
STORE LOCATOR www.alexanderwang.com
●ACCESSORIES
29
Direct competitors
LONDON STOCKIST 4 - 5 Old Bond Street London W1S 4PD Tel: +44 207 355 0088 www.alexandermcqueen.com www.m-c-q.com
In 27 July 2006, a luxury fashion house, Alexander Mcqueen launched a lower-priced diffusion line McQ and references all of the anarchic, rebellious traits of McQueen’s mainline collections but with a more youth orientated, urban feel. (Above) : Pina Ferlisi, creative director of Alexander Mcqueen’s diffusion line McQ
McQueen standards -skulls, sequins, graphic prints - all appear here on tees, scarves, leathers, and skinny jeans. But McQ is no mere afterthought. It’s appreciated in its own right by everyday fans and celebrities alike. Now under the creative direction of Sarah Burton, the line carries men's and women's ready-to-wear and accessories, was exclusively designed by Pina Ferlisi.
30
Brand values
Edgy
Cultural
Iconic
Urban
Quirky
Product range Range size
9 styles
Range
Flats, Pumps, Boots, Booties
Size range
UK Ladies 3-8
Heel sizing
0mm – 125mm
Colour range Black, Taupe, Camel, Beige, Red
Craftsmanship
Materials
Studs, Rubber, Buckles
Price range
£215 - £ 370
31
Store
(Left) McQ Store disply at Selfrides, London U.K.
(Left) McQ store display
The company announced it would launch its first McQ standalone boutique in London in 2012
McQ’s product ranges are available on most of biggest stores such as Selfrides, Harvey Nichols, and Harrod’s.
In November 2011, it announced that McQ would be presented at London Fashion Week for the first time in Febrary 2012.
Customers are also available to purchase the range via retailers’ official website.
(From left to right) Emma Watson, Chloe Moretz and Rihanna all fell for the tartan McQ dress from the A/W ‘11 range
32
Direct competitors LONDON HEADOFFICE Universal House 251 Tottenham Court road London W1T 7AB www.finsk.com
London based, FINSK launched in 2004 by a most promising and gifted shoe designer, Julia Lundsten.
With an architect father and interior designer mother, Lundsten has cultivated an eye for design, clearly reflected in her work. "I think the way most Finns grow up, surrounded by nature and space and the calm colours and tones of the Finnish landscape, will always inspire (at least subconsciously) most Finnish designers including myself. I prefer to use traditional, natural materials such as wood and leather but I try to do so in a new way, in my case in ways that are not commonly known in shoe production." Julia Lundsten, founder of Finsk
Some of her biggest inspirations have derived from architecture, including buildings and furniture details as well as structures found in nature. Likening a shoe to a chair, Lundsten views the heel and
sole as the chair legs, with the upper, the seat. The natural beauty of locally sourced materials is a significant component of each collection, each pair of shoes being handcrafted in an atelier in Brazil.
The production process is as ethical as possible and all leathers used in Lundsten's designs are by-products of other industries. Recent press coverage includes Vogue, Elle, Grazia, Surface and Style Bub-
ble.
33
Brand values
Store There is no information available on their website where the stores are located,and you have to e-mail them in order to find out where your closest store is. It is possible to purchase Finsk shoes by emailing the company.
Sculptual
Iconic
FINSK shoes are sold in selected boutiques in 11 countries, UK, USA, Japan, France, Hong Kong, Finland, Sweden, Brazil, Canada, Italy, Singapore
Consumers who purchase the shoes.....
Architectural
Directional
Unique Ethical
34
Product range Range size
14 styles
Range
Pumps, Wedge heels, Boots.
Size range
UK Ladies 3- 8
Heel sizing
80mm – 150mm
Colour range
Black, Nude, Taupe, Cobre, Ruby, Military, Leopard printed.
Materials
Pony, Cracked metallic leather, Wood, Suede
Price range
£ 340 - £615
35
“ I am captivated by her work. It is like nothing anybody is doing at monent, exquiste, divine, perfect.” Manolo Blahnik quoted from W Magazine
Website COLLECTIONS / NEWS / ABOUT / PROJECTS / STOCKISTS / WEB SHOP
www.finsk.com
36
Indirect competitors
LONDON STOKIST 12 Mount Street W1K 2RD LONDON, U.K Tel : +44 20 7317 4400 www.balenciaga.com
The son of a seamstress, Cristobal Balenciaga founded this legendary fashion house in Madrid in 1918.
After the Spanish Civil War, the designer relocated to Paris where he swiftly built a reputation for refined elegance and was hailed as "the couturier of couturiers". Frenchman Nicolas Ghesquière has been at the helm since 1997, drawing inspiration from the house's archives. Under his influence, the fashion house has become a bellwether in the industry, influencing trends at all levels of the market.
37
Brand values
Product range
Eccentric
Craftsmanship
Innovative
(Left) : Shoes for Balenciaga A/W collection 2010
Edgy
Range size
12 styles for a seasonal collection
Range
Sandals, Boots, Pumps, Flats, Trainers
Size range
UK Ladies 3-8
Heel sizing
0mm – 115mm
Colour range Black, white, dark green, blue, brown
Sculptural silhouette
Materials
Leather, Suede, Studs, Rubber, Goat skin, Elastic, Zipper
Price range
£ 295 - £ 2,000
Futuristic avant-gardism
38
Website
Balenciaga Paris Boutique
Store Balenciaga does have 24 flagship stores around
Balenciaga London Boutique
the world such as Paris, London, New York, and
COLLECTIONS
Tokyo.
LA MAISON BALENCIAGA ●HERITIGE
Also their collections are available for purchase not only at some worldwide
SHOP CLOTHING
●NEWS
●WOMEN
●CAMPAIGN
SHOP ACCESSORIES
BOUTIQUES
●WOMEN
selected stores but also at
●MEN
company’s official website. Balenciaga New York Boutique
FRAGRANCE
39
Indirect competitors PARIS STOCKIST 3 Avenue George V 75008 Paris, France Tel : +1331 44 31 50 00 www.givenchy.com
Hubert de Givenchy founded his iconic French fashion house in 1952, dressing the likes of Jacqueline Kennedy and Audrey Hepburn.
Now with Italian designer Riccardo Tisci at its helm, the label offers equally exquisite footwear - look out for expertly embellished ankle boots, towering platforms, intricately woven wedges and glamorous sunglasses. 'My way of showing is very melancholic. 'I love romanticism and sensuality'
Givenchy has product lines for womenswear, menswear, haute-couture, resort, accessories, and beauty.
- Riccardo Tisci
40
Brand values
Especially detailed
Edge Product range
Luxury
Urban chic
Craftsmanship
Glamour
Range size
6 styles for a seasonal collection
Range
Sandals, Boots, Pumps, Rain boots, Flats
Size range
UK Ladies 3-8
Heel sizing
10mm – 130mm
Colour range Black, White, Grey, Pink, Materials
Leather, Wool-felt, Sequin, Velvet, Satin, Jersey
Price range
£395 - £1,330
41
Store
Website
The house of Givenchy has 32 stores
based in France and 4 stores in London and brands’ collections are stocked in over 250 stores around the world, such as other European countries, United States, Middle East, Canada, and Asia.
COLLECTIONS/ NEWS / ADVERTISING / HISTORY / STORES / CONTACT / PRESS ROOM
42
Indirect competitors
LONDON STOCKIST 5 Mount Street W1K 3NE London, U.K Tel: +44 207 290 1404 www.nicholaskirkwood.com
“ When I work with another designer, it is a very real bona fide collaboration. We bounce back ideas and truly work together. I love doing them because it is always fascinating for me to see the way a designer thinks how they harness that creative process. It is also really important because sometimes I can get really drawn into my own designs and so this is a great way to bring me out of my box a little.” - Nicholas Kirkwood
Nicholas Kirkwood, originally from Gemany is a London based designer and former student of both Central Saint Martins and Cordwainers, London College of Fashion. His sculptural designs have a huge architectural influence and he continues to use innovative materials throughout. Kirkwood started his career as a milliner working for the Irish designer, Philip Treacy.
Since launching his own collection, Kirkwood has also collaborated with several other fashion labels including John Rocha, Frost French, Boudicca and Ashley Isham. In addition, he hopes to launch a men’s line in the future to further his groundbreaking style.
43
Brand values
Ultra modern Edgy
Unique Innovative Iconic
(Right) : Nicholas Kirkwood’s A/W 2011 collection
Product range Range size
40 styles
Range
Flats, High Heels, Boots,, Ankle Boots, Wedges
Size range
UK Ladies 3-8
Heel sizing
10mm – 160mm
Colour range Black, Turquoise, Lilac, Bronze, Grey, Silver, Terracotta, Blue, Gold, Creme, Electric Blue Materials
Leather, Fur, Sequin, Velvet, Suede’s to exotic skins
Sculptrural
Price range
£465 - £995
44
Product range
(Right) : Nicholas Kirkwood x Rodarte S/S 2011
(Right) : Nicholas Kirkwood x Peter Pilotto S/S 2011
Store
(Left) : Bounty platform sadanl,Nicholas Kirkwood for Liberty,UK
Nicholas Kirkwood’s Flagship store in London
He has quite a number of stockists in the U.K., inculuding Dover Street Market, Harrods’ Shoe Boudior, Harvey Nichols, Liberty, Selfridges and Start in London. Worldwide Kirkwood is stocked in more than 45 cities.
(Left) : Nicholas Kirkwood x Rodarte A/W 2010
Nicholas Kirkwood’s shoes in Dover Street Market, London
Website STOCKISTS / COLLECTIONS / CONTACTS / SHOP
With typical pioneering resolve, Kirkwood avoids using any fastenings in his collections, choosing instead to challenge his materials – stingray, lizard and ostrich skin, and butter-soft nappa leather. He folds the materials like origami, twisting them to explore their possibilities.
(Above) : Keith Haring capsule collectiong by Nicholas Kirkwood
45
Head office -
Design process : Colour &Trend forecasting, Design amendments Retail research Customer analysis Sales/profit analysis Consolidation orders and Ordering bulk leathers
Leather & Trimming suppliers -
PRODUCTION
Materials, Components, Fittings, Hardware, Lasts & Heels, Packaging
Manufacturer -
Materials, Components, Fittings, Hardware, Lasts & Heels, Packaging Prototypes Sample patterns and pattern amendments Delivery to buyers
Trade shows For the proposed collection, the line will be produced in United Kingdom, however in the future the YEA : JI SUNG’s footwear is expected to be produced in South Korea to reduce the production cost. But for the exclusive and high-end collections, brand is aim to produce the ranges in Italy which has higher reputation for its craftsmanship. As the material-costs are presently unknown, the product costing is set provided that the retail prices will land within the proposed price range, which is £170-£650.
-
Opportunity to make contact with buyers, retailers, suppliers, and editors
Buyers -
Selling Showing samples Delivery to shops
To Whole sale & Retail - Department store - Boutique and specialty stores - Export Customers - The online sales will be shipped to customers directly
46
Leather & Trimming Suppliers
Head Office
(Shipment)
Trade Shows
Manufacturer (Delivery)
Buyers (Online Sales)
Customer
To Wholesale & or Retail
Supply chain map 47
Establishing the cost of the product ****This price is an estimated costing for an average design of simple court shoes. A true full costing can only be determined when the design has been completed.
1/8 meter calf leather upper (£ 40 per meter ) --------------------------- £ 5.00 1/8 meter Pig skin leather lining (£ 32 per meter )-----------------£ 4.00 Components ( heels, trims, platforms, insoles, outsoles etc)-----£ 20.00
Materials The leather coverings are sold by the meter requiring specific meterage determination that must be multiplied by the cost per meter
Sundries ( shoes box, Packing)--------------------------------------------£ 5.00 Cost per unit--------------------------------------------------------------------£ 34.00
Cos t i n g Landed Price
Direct Costs This proposed costing does not include all expenses related to producing the items ordered by the stores. The costing process will must cover the obvious expenses tracked throughout production such as leather, buttons, zippers, construction, and shipping in the future. Also indirect cost (including design and development costs and sales, general, and administrative costs) will be added to pricing. Retail pricing strategies may vary by store, but generally, retail markup equals double the wholesale price, plus 20 to 80 percent, referred to as 2.2 or 2.8. Markup can be as high as 3.0 for product made in Europe because of the extra cost of duty and freight.
Shipping to UK
£ 5.00
£ 39.00 including VAT
Indirect Costs - design and development costs and sales, general, and administrative costs
This is normally on average of 45% of Landed Price = £ 17.55
Wholesale Price
Retail price
Profit Margin Added Profit margin worked out at a required company 20%(Direct cost) = £ 7.8
Profit Margin Added Profit margin worked out at a required company 20%(Direct cost) = £ 7.8
Final wholesale price = £ 64.35 + VAT (20%) = £ 77.22
Wholesale price £ 77.22 x 3
Retail Markup = £ 231.66
Sales, general, and administrative costs include the costs of running the business, selling, and promoting the line. These include business overhead including rent, bookkeeping, wages, telephone, sales expenses such as look books and tradeshows, advertising, and public relations.
48
Where the consumer can buy YEA : JI SUNG’S product?
SALES
London
The brand will aim to attract buyers from a wide range of high end
department stores, selective independent boutiques and online companies, with the aim to supply them with the first Autumn/Winter 2012-13
What types of stores?
Which countries?
YEA : JI SUNG’s footwear product will be distributed not only in many stores nationwide in U.K but also in a few selected stores worldwide. It requires a careful strategy for working with the right stores, negotiating he terms, and pricing the goods correctly.
Milan Paris
Seoul
New York
Toyko
Department stores
E-stores
Tradeshows
Boutiques?
collection.
In the United Kingdom, more than 11 million people consider themselves as ‘heavy’ web users and this trend is similar in other countries. In addition, consumers desire to have the premium retail experience online and in the comfort of their homes or office. To keep up with this current trend, the brand will retail through e-commerce websites as well as brands’ official website.
49
1. Department stores
(Left) : Printemp department store, Paris, France (Below left, right) : The shoe galleries, Selfridges, London, U.K
A big chain of department stores can land brands’ merchandise in many locations across the country, dramatically growing the business and providing economies of scale for sourcing and production. • • • • •
(Below left, right) : Barneys New York, U.S.A
The shoes gallery, Selfridges, London, U.K Harvey Nichols / Liberty London, U.K Printemps Paris, France Barneys New York, U.S.A Sinsaege, Korea
50
2. Boutique and specialty stores
(Left) : 10 Corso Como, Seoul, Korea (Below) : 10 Corso Como, Milan, Italy
Boutiques are more flexible regarding delivery, and they may share in the risk. A product that does not sell well in a big department store may do well in a boutique. • • •
Dover street market & Matches market in London Opening ceremony in New York 10 Corso como in Milan, Seoul, and Tokyo
The 10 Corso Como store opened in September 1991 in a
(Below) : Matches in Marylebone, London, U.K
converted garage. A collage of cultural and commercial entities from fashion to design, including music, life style, art and photography it marks the beginning of total shopping.
Dover Street Market is a
Matches offer the latest menswear and womenswear designer fashion from the likes of
multilevel fashion retail store
Diane von Furstenberg to Alexander McQueen, Acne
created by Rei Kawakubo of
to Lanvin as well as introducing new designers from
Japanese fashion label Comme
across the globe.
The interior of the Dover Street Market, London, U.K
des Garçons . Dover Street Market Tokyo opened in 2006 and is a smaller
www.matches.com
version of the London store.
51
3. Online stores
4. Tradeshows
This can be a successful environment for young designer brand. Online stores capture information and the datas can tell that where brands’ product sells best, exactly what each consumer is purchasing, and specifically why an item was returned. www.farfetch..com
www.asos.com
Brands’ official website : www.yeajisung-footwear.com
Above image is from Collezioni Accessori
Brands’ official website are including : Brand ethos and history / Brand news/ Introduce seasonal collections/ E-shop / Stockists information / Mailing list for future promotions
There are dozens of tradeshows in the Europe, United States, and Asia that each attract buyers from all over the world. As brand yeajee sung does not have enough reputation and a showroom yet, tradeshows offer a great opportunity to make contact with retailers, buyers, and editors. 52
THE COLLECTION
53
Mood board for Autumn / Winter 2012-13
54
The colour palette for the Yeajee Sung’s A/W 2012-13 footwear ranges will be consisted with a mixed colour palette. Monotone colours which are black and white will be used with primary bold colours like red and blue. The colour palette has been inspired by art works which related to Art deco movement. Particularly, most of inspirational pictures have come from the art works such as Surrealism, Cubism, and Dada.
55
SCULPTED WOODEN SOLES: FOOTWEAR EMERGING TREND By Jacqui Ma, WGSN, 17 November 2011
- Classic woodwork techniques such as dove-tail joins, carving and joining are integrated into heel design
TRENDS
- Sky-high platforms shift the focus from the upper to the sole
- Wood and timber materials range from high-end timber to modest chipboard
Here are WGSN:s trend forecast for footwear S/S 2013
- From simple cutaways to more daring under cuts, carpentry skills become a new inspiration for footwear
56
OPAQUE AND RUBBERY -Mellow, sophisticated - Washed effect on rubberized materials - Opaque materials, as cold and rubbery as a bicycle tube. BLOW UP - Swollen lightweight materials - Stretch and stuffed materials, lightweight and irregulat - Swollen nap leather, but not only nap
DRY TIME - Materials with a dry feel - Modern cracked effects - Sanded finishes - Dry-feeling compact cotton twill
- Swollen and lightweight fibre and feel
Source from Linapelle prediction book
57
APPENDIX
58
59
BIBLIOGRAPHY Books Gehllar, M., 2008. The fashion designer survival guide. Kaplan Pub. Meadows, T., 2009. How to set up and run a fashion label. Lawrence King Pub. Lucy, C, 1996. Consumer culture. Polity Press. Miles, S, 1998. Consumerism : as a way of life. London : Sage,c. Jackson, T, 2006. The fashion handbook. London : Routledge. Okonkwo, U,2007. Luxury fashion branding. Basingstoke : Palgrave Macmillan. Easey M, 2002. Fashion marketing. Oxford : Blackwell Science.
Online resources Acne [Online] Available at: http://www.acnestudios.com/ (Accessed: 10 November 2011) Givenchy[Online] Available at : http://www.givenchy.com/(Accessed: 10 November 2011) Alexander Wang[Online] Available at : http://www.alexanderwang.com/(Accessed: 10 November 2011) Nicholas Kirkwood[Online] Available at : http://www.nicholaskirkwood.com/(Accessed: 9 November 2011) Givenchy[Online] Available at : http://www.givenchy.com/(Accessed: 10 November 2011) Balenciaga[Online] Available at : http://www.balenciaga.com/(Accessed: 10 November 2011) Finsk[Online] Available at : http://www.finsk.com/(Accessed: 9 November 2011) WGSN[Online] Available at : http://www.wgsn.com/(Accessed: 6 November 2011)
60
Rhodri Evans, 2011. Premium clothing market to grow as shoppers buy less but better quality. Western Mail, [Online] 22 April. Available at : <http://www.walesonline.co.uk/business-in-wales/business-news/2011/04/22/premium-clothing-market-to-grow-as-shoppers-buy-less-but-betterquality-91466-28563805/#ixzz1dGBOXf5n> [Accessed on 22 November 2011] Henry Sheehan, 2011. â&#x20AC;&#x2DC;Middleton effectâ&#x20AC;&#x2122; to fuel premium retail market. Manchestereveningnews.[Online] 17 May. Available at : <http://menmedia.co.uk/manchestereveningnews/news/business/s/1420872_middleton-effect-to-fuel-premium-retail-market> [Accessed on 22 November 2011] Jess Purdue,2010. The premium market: Beware the Great Ignored (UK). Microsoft Advertising, [Online] 01 July. Available at :< http://advertising.microsoft.com/uk/premium-market-report> [Access on 22 November 2011]
61
YEA : JI SUNG PLEASE VISIT OUR WEBSITE : WWW.YEAJISUNG-FOOTWEAR.COM