Following a directional shopping trip to LA, the Buying and Merchandising teams have developed two dresses to be presented at the internal product review meeting with management. One of these garments is to be included in the Spring/Summer 2012 range as part of a capsule collection. The chosen garment will go in sale in store in 10 weeks, thus making it a fast fashion garment. This report documents the process the Monsoon Fusion Buying and Merchandising teams for the dress department have undertaken in selecting these garments, as well as KPIs and sales figures. All aspects of the two garments are compared, investigating which one will be more saleable in store and therefore profitable for the company, to aid in the decision making process of selecting one to put into production. The selected garment will become part of the Monsoon Fusion Spring/Summer 2012 range, a sub-brand of Monsoon which is aimed at a younger customer base, with prices 20-30% cheaper than the core range (Mintel, 2011). A founder of the Ethical Trading Initiative (ETI), Monsoon prides itself on their ethical, fairtrade and sustainable efforts (Monsoon.co.uk, 2012). Monsoon and all of its sub-brands, including Monsoon Fusion, ensure garments are produced in line with Monsoon’s Code of Conduct (see appendix 1).
2. Procedure and Methodology
The report follows in chronological order the initial conception of ideas for the garments, through to development, placement within the Monsoon Fusion pricing architecture, required unit buys and allocation to stores. In order to obtain information by which to select garments, several methods have been employed. These include: Customer profiling
Analysis of high street competition
Trend research via RTW and Couture collections and analysis of street style Market analysis
KPIs have been applied to the garments based in information gained from analysis of historical sales patterns, like-for-likes (LFL) and planned growth within the range. The KPIs include: Planned sales plan
Allocation and replenishment
Forecast net profit calculation
3.1 Customer Profile
The following Pen Portrait describes a typical Monsoon Fusion customer, and has been developed to aid Designers, Buyers and Merchandisers to create appropriate garments for sale. Alice is 27 years old. She works as a Medical Secretary at a Private Dentist Clinic, having studied English Literature and History at University after finishing her A levels. Born and raised in Surrey, she moved to Wimbledon after University to remain close to her family, and continues to visit them regularly. She is very ethically aware, and does what she can to be environmentally friendly in her everyday life. She is an avid recycler, and adheres to the motto of ‘waste not, want not’. A very active person, Alice plays tennis and swims twice a week, as well as going for walks in the common with her flat mates. On the weekends she will usually go to dinner with friends, followed by drinks at a bar or pub in Fulham. A few times a year she will holiday in Western Europe, enjoying sightseeing and visiting museums. Every second year she takes a bigger holiday to places such as Asia, Australia or Canada.
Figure 3.1 – Pen Profile
3.2 Competitor Evaluation
Ensuring the garments are aligned with the main high street competitors, a perceptual positioning map has been developed. Further investigation to the dress departments has been undertaken in the form of a comparative shop, which can be found in Appendix Two. The PPM was created using the average dress price from Monsoon Fusion and their competitors. Whilst Monsoon Fusion may be less fashion forward than its competitors, its focus tends to lie more with quality and ethical production, resulting in a higher average price point. This can be justified in that whilst the target customer is not necessarily an avid follower of trends, she still likes to...
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