|Executive Summary |2 | |Company background & Current Marketing Situation |3-7 | |Marketing Objectives |7-8 | |Opportunity & Issue Analysis |8-13 | |Marketing Strategy & Actions taken |13-16 | |Appendix 1 & 2 |17-20 | |Bibliography |21 |
Contributions (write ups only)
Executive Summary, Company background & Marketing Strategy- Priyanka Chigurupati Marketing Objectives& Marketing Strategy- Maira Braga
Opportunity & Issue Analysis- Judy Seng & Yui Yasuda
Ann Taylor Stores Corp. has been one of the largest apparel and accessories firms in the fashion industry for a long time. It has four divisions; Ann Taylor, LOFT, Ann Taylor Factory and LOFT Outlet each of which caters the same category of apparel and accessories, i.e. work related clothing to different markets. The introduction of Dan Taylor; our challenge has been positive and we feel that this division for men’s clothing would reap benefits for the company primarily because the men’s market is a growing one. Also, Dan Taylor can capitalize on Ann Taylor’s reputation of being amongst the top few brands customers pick for work related, casual yet chic clothing. Our product line will follow along the path of LOFT; catered to men instead of women. Although there are several threats the company might face, we strongly believe that the opportunities will outweigh the risks. Dan Taylor will use promotional tools that Ann Taylor never used but in terms of overall advertising, Dan Taylor will follow Ann Taylor’s path. The company’s overall goal is to improve the bottom line growth of both the divisions (Ann Taylor & Dan Taylor). If successful, Ann Taylor Store Corp. will be one of the highest grossing companies in the United States.
COMPANY BACKGROUND & CURRENT MARKETING SITUATION
Ann Taylor Stores Corp. has been one of the most popular women’s clothing company in the United States for the past few decades. Founded in 1954 by Richard Liebeskind, the company was named “Ann Taylor,” because “Ann,” was considered a very New England name and “Taylor,” evoked an image of tailored clothing. Ann Taylor has four divisions; Ann Taylor, LOFT, Ann Taylor Factory and LOFT Outlet. Ann Taylor caters to working women with classic clothing that is polished, refined and versatile. The fashions offered at Ann Taylor stores are for affluent career women. With price points between $40 (for a basic top) and $430, Ann Taylor falls in the “better,” category. LOFT was established in the late 90’s and offers more casual and relaxed fashions for relatively younger customers. Priced anywhere between $20- $90 and $200 for suits (two separates), it falls under the “upper moderate,” category. Ann Taylor Factory and the LOFT outlet are extensions of the brand (Ann Taylor and LOFT) in the outlet division. Ann Taylor Stores Corp.’s product line (width) includes “Apparel,” that includes tops and blouses, sweaters and knits, dresses, pants, skirts, suits, jackets and coats, denim and accessories among all four divisions (based on different price points). The depth of the accessories includes shoes, jewelry, handbags, belts, scarves and shape wear. Ann Taylor has an exclusive line of Bridal wear that is an one stop shop for all wedding needs for women including wedding dresses, bridesmaids dresses, shoes and accessories at an affordable range of $38 (accessories) to $495 (wedding dress). LOFT, being the more casual between the two has an exclusive line of lounge wear ranging between $20 and $60. The extensive product line is available for Ann Taylor and LOFT in brick and mortar stores, on the internet (ecommerce) and in catalogues. Ann Taylor’s strengths lie in the fact...