Ann Taylor - Paper
Overview
The information obtained in this document is intended to provide insight in both marketing and management strategies performed by Ann Taylor retail and factory stores. The implementation of certain managerial functions is crucial to the foundation and successfulness of a company.
Introduction * Ann Taylor was founded in 1954, by Richard Liebeskind. The very first Ann Taylor store was opened two years later in New Haven, Connecticut. The company has grown to having manufacturing facilities in more than 26 countries, with about 32% manufactured in China, 12% in the Philippines, 14% in Hong Kong and 6% in S. Korea. The brand has 905 retail outlets in as many as 46 states including Puerto Rico and Columbia. (Wikinvest,2006,2007,2008,2009). The Company caters to several needs of modern women especially for those with busy lifestyles by offering a complete range of casual as well as career- oriented clothes which are not just good quality but are trendy and stylish too. The Ann Taylor mission statement clearly outlines the company’s purpose and their desire to not only represent fashion and style but to ensure that their clients can look and feel great about the clothes they wear. Ann Taylor is very committed to forming strong partnerships with their suppliers so that products are made ethically. Ann Taylor is dedicated to putting their best selves forward every day. In 2008, Ann Taylor announced a multi-year strategic restructuring program to enhance profitability. The restructuring was to improve the company’s overall effectiveness (Ann. Inc., 2011)
The multi-year program that was launched in 2008 was expected to generate $50 million in ongoing annual pre-tax savings. The key elements of the restructuring program included: * The closure of 117 underperforming stores over 117 underperforming stores over the 2008 -2010 period (Wikinvest,2006,2007,2008,2009). * An organizational streamlining, primarily involving the downsizing of the
The information obtained in this document is intended to provide insight in both marketing and management strategies performed by Ann Taylor retail and factory stores. The implementation of certain managerial functions is crucial to the foundation and successfulness of a company.
Introduction * Ann Taylor was founded in 1954, by Richard Liebeskind. The very first Ann Taylor store was opened two years later in New Haven, Connecticut. The company has grown to having manufacturing facilities in more than 26 countries, with about 32% manufactured in China, 12% in the Philippines, 14% in Hong Kong and 6% in S. Korea. The brand has 905 retail outlets in as many as 46 states including Puerto Rico and Columbia. (Wikinvest,2006,2007,2008,2009). The Company caters to several needs of modern women especially for those with busy lifestyles by offering a complete range of casual as well as career- oriented clothes which are not just good quality but are trendy and stylish too. The Ann Taylor mission statement clearly outlines the company’s purpose and their desire to not only represent fashion and style but to ensure that their clients can look and feel great about the clothes they wear. Ann Taylor is very committed to forming strong partnerships with their suppliers so that products are made ethically. Ann Taylor is dedicated to putting their best selves forward every day. In 2008, Ann Taylor announced a multi-year strategic restructuring program to enhance profitability. The restructuring was to improve the company’s overall effectiveness (Ann. Inc., 2011)
The multi-year program that was launched in 2008 was expected to generate $50 million in ongoing annual pre-tax savings. The key elements of the restructuring program included: * The closure of 117 underperforming stores over 117 underperforming stores over the 2008 -2010 period (Wikinvest,2006,2007,2008,2009). * An organizational streamlining, primarily involving the downsizing of the
References: Ann Inc. (2011). Retrieved from www.anncareers.com Ann Inc. (2011) Retrieved from http://www.investor.anntaylor.com Ann Inc. (2011) Retrieved from www.responsiblyann.com Wikinvest (2006,2007,2008,2010) Retrieved from http://investor.anntaylor.com