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FASHION BUYING Lesson 1 21 st January 2010 ituto Europeo di Design – IED Moda Lab

C:\fakepath\ied 21th january 2010

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lesson nr 3 fashion buying

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Page 1: C:\fakepath\ied 21th january 2010

FASHION BUYING

Lesson 1

21st January 2010

Istituto Europeo di Design – IED Moda Lab

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Course Overview

Mono-brand buyingpeculiar tasks of a buyer within the retail department of a

high-end fashion/luxury brand (buying for flagship stores, shop in shop, mono-brand franchising)

Multi-brand buyingpeculiar tasks of a buyer as a wholesale/independent client

purchasing from a fashion/luxury brand(buying for a medium-small boutique, concept store, department store)

Buying for an online business(buying for online/virtual store, pure players, etc.).

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Buyer?

• Selects products (belonging to one/more collections)

• Builds an assortment (coherent, deep or broad)

• Considers/respects:– a given budget (reflecting a financial plan)

– sales analysis (previous and counter-season)

– company’s strategy/policy (stores)

– collection & brand mood (seasonal and not)

– market trends / market situation– press feedbacks (magazines, newspapers, blogs, style.com)

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Buying Mono-brand vs.

Multi-brand (Retail) (Wholesale)

1 Brand n Brands

1/n Collection/s n Collections

Main

Pre-coll

Flash

Assortment Assortment

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Buying Mono-brand vs. Multi-

brand (Retail) (Wholesale)

Retail Dept Buying Office

relates to relates toretail mgmt -merchandiser (style dept) – fashion

coordinator - press office –sales associates* -

visual merchandising*

head of buying, wholesale mgmt, showroom staff

visits

exhibitions, fashion weeks

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Multi-brand Buying

Coherent Assortment / Product Mix – Research – Imposed budgets

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Here comes Internet!

Different kinds of online stores:

– Online - Virtual Stores (Mono-brand)e.g.: gucci.com, valentino.com

– Multi-brand Online Stores (Pure Player)e.g.: net-a-porter.com, thecorner.com

– Multi-brand Stores with an e-commerce business

e.g.: luisaviaroma.com, matchesfashion.com, farfetch.com*

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Buying for online stores

• “Online friendly” assortment + coherence with the mood of the brand/of the collection (mono-brand stores)

• “Easy to communicate” assortment + editorial contents (pure players)

• In store stock = online stock (multi-brand stores with a multi-brand business)

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Personality…

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