Marketing Plan for a new fashion brand
It is a fashion brand created for a modern woman who is open to new ideas, who likes fashion and clothing and looks for something beyond what is available off the peg. The key message associated with the brand is classy, minimalistic, upscale and versatile clothing. Mission of the business is to create timeless style based on outstanding designs using only best quality fabrics and row materials. It’s a casual elegance of the highest order.
The collection will contain casual, cocktail and evening dresses, coats, shirts, jackets, skirts etc. The business intense to market its line as an alternative to existing clothing lines and differentiate itself by marketing strategies, exclusiveness and high brand awareness. All the collections will be manufactured in E.U. using “made in Europe” components.
The R.O.I. and UK fashion industry is large, mature, and highly fragmented. Clothes sold in Ireland and United Kingdom are produced both domestically and in foreign locations. The UK market can be divided into two tiers: national brands and other. National brands are produced by approximately 15 sizable companies and currently account for some 30% of all wholesale sales. The second tier, accounting for 70% of all apparel distributed, comprises small brands and store (or private-label) goods. Apparel is sold at a variety of retail outlets. Based on data from NPD Group, discount stores, off-price retailers, and factory outlets accounted for 30% of 2009 apparel sales, while specialty stores and department stores accounted for 22% and 18%, respectively. Another 17% were sold at major chains, and direct mail/catalogues accounted for 6%. The remaining 7% of apparel sales occurred through other means of distribution
The company plans to target females between the ages of 30 and up with a combined household income of more than €60,000. Within this group, there are no ethnical barriers, and customers have diverse backgrounds. The brand customer is a versatile woman who can fit into any environment and is willing to pay a middle market price for quality clothing. Customer currently shop in quality department stores and boutiques for mid to high value items that are used on special and semi-special occasions in a work and personal context. Customer is socially active, eating out, travelling and entertaining at home in addition to attending business related functions. The company's target group is seen as having enough disposable income to spend on middle market priced quality clothing.
Table: Market Analysis
|Market Analysis | | | | | | | | | | | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | | |Potential |Growth | | | | | |CAGR | |Customers | | | | | | | | |Females under 30|0% |8 000 000 |8 000 000 |8 000 000 |8 000 000 |8 000 000 |0,00% | |Females aged 30 |0% |17 000 000 |17 000 000 |17 000 000 |17 000 000 |17 000 000 |0,00% | |- 55 | | | | | | | | |Females over 55 |0% |11 000 000 |11 000 000 |11 000 000 |11 000 000 |11 000 000 |0,00% | |Total |0,00% |36 000 000 |36 000 000 |36 000 000 |36 000 000 |36 000 000 |0,00% |
Chart: Market Analysis (Pie)
Competition and Buying Patterns
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