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LONDON COLLEGE OF FASHION / RMIT COLLABORATION

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Mon St

on 25 March 2014

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Transcript of LONDON COLLEGE OF FASHION / RMIT COLLABORATION

RMIT / LONDON COLLEGE OF FASHION COLLABORATION
TOM FORD
External Macro Environment:
Australian Competitors for Tom Ford
UK Retail Environment
Total Product Offer
Promotional Activities
Current
store formats
Sales Channels
Launch Campaign
Target Market
Some previous campaigns ...
Large number of high-profile, international visitors
Demand for luxury goods
Intense colours.
Sensuous silhouettes.
Strong, structured and sculptural.
Erotic edge - Uses sex to capture and maintain the audience's attention.
Many advertisements banned in some countries.
His specialty is grandness, almost theatrical-ness.
Very sleek, sexual and provocative.
Our Proposal...
Headquarters located in NYC
No online store
No app for smartphone
Stores located around the world
Japan: 6 Stores
South Korea: 4 Stores
China: 2 Stores
Hong Kong: 2 Stores
Singapore: 1 Store
Indonesia: 1 Store (2015)
Men's & Women's luxury products
Niche target market
Made in Italy
High quality
Luxury materials
Price range: $300 - $30,000
Size range: 4 - 18
Limited stock by size
Special lines produced for different regions
Seasonal collections: S/S, A/W

Launch Tom Ford Womenswear in Melbourne, Australia
About Tom Ford
USA: 5 Stores
UK: 1 Store (flagship store in London - 2013)
France: 1 Store
Italy: 1 Store
Dubai: 1 Store
Russia: 1 Store
India: 1 Store
Switzerland: 1 Store
- Stores located worldwide.
- Approximately 100 stores (freestanding and concessions).
- First flagship store located in New York.
- First UK flagship - 2013 Sloane Street, London.
Tom Ford Stand Alone Stores:
Proposed Australian Distribution
• 100 stores worldwide
• Sleek and clean, meticulous detail
• Deep colour scheme - neutrals
• Mix of stand alone stores and boutiques inside department stores
• Barneys, Bergdorf Goodman, Selfridges, Harvey Nichols, Harrods
• All department stores carry the Tom Ford Experience - never just hangers on a rack, but mini versions of his larger stand-alone stores.
Who: Melbourne celebrities, socialites, wealthy, Henry Bucks clientele.
What: Wet runway show of Tom Fords collection and nibbles, socialising and drinks
When: Thursday 27th November 2014
Where: Top floor of Curtain House, rooftop cinema
• Online Shopping through the Tom Ford website
• Selling at Crown Boutique
• Focus attention on selling in store and the experience
SWOT Analysis - Strengths
Well-established brand
Distinctive designs
Limited direct competition in Australia
Point of difference
Products made in Italy
Broad size range (4-18)
Accessories, eyewear and cosmetic collections already established in Australia
Current Tom Ford customers could promote womenswear line (word-of-mouth)
SWOT Analysis - Weaknesses
Tom Ford is associated as a menswear brand
Customer base is smaller in Australia
Designs may be too "out there" for Australian lifestyle
Fabrication may be impractical for the Australian climate
No website (under construction)
Limited stock available to purchase on other websites
Opposite seasons to the Northern Hemisphere
Receive stock late and possibly off trend
SWOT Analysis - Opportunities
Strong marketing campaign to introduce Tom Ford's womenswear to the Australian market.
Modify the range for the Australian market
Potential distinctive brand name e.g. Tom Ford black label
Opportunity to buy online from luxury websites (e.g. NET-A-PORTER)
Innovative and 'state of the art' in-store experience
Create a store that incorporates all Tom Ford products
SWOT Analysis - Threats
Already established competition in Australia
Womenswear brand not well known – will be hard to introduce
People may be slow to accept brand
Australian market has a different lifestyle to those in Europe
Lower-end brand could copy designs
Taking note of pre-existing and established brands:
- Chanel
- Armani
- Louis Vuitton

Also note: H&M, Uniqlo and COS.

Tom Ford Mission Statement
“I want to make beautiful clothes for women and men who appreciate detail and quality. The product must be the best but, this is almost secondary to the service the customer will receive.”
Women's and Men's Apparel
Eyewear
Total Product Offer
Eyewear
Apparel
Fragrances
Accessories
Beauty Products
Jewellery
Shoes
Competitor comparison
Fashionability Vs Price

1. Follow all national and international environmental regulations
2. Eliminate waste in supply chain
3. Understand and reduce carbon emission
4. Include environmental sustainability in all corporate communications
Georgina Adorni-Braccesi
Gabriella Capone
Yiwen (Evanna) Chen
Georgia Lamming
Lucinda Myers
Miranda Punshon
Monique Steiner
Shufang (Violet) Wu
Team Members
Age: 25-45
Gender: Female
Income: High
Education: Tertiary educated
Occupation: Business executive
Social Class: Upper Class
Region: Urban
Family: Married, possibly with kids
Is...
Career driven/highly ambitious
Financially independent
Time Poor
Well travelled
Well groomed
Intelligent and open minded

Has...
Large social network
Brand loyalties
Latest technology
Loves...
Luxury fashion
Food and Wine
Arts and culture
Classic/Art house Movies
Vogue
Dining out and attending functions

POLITICAL

Conscious of “inspiration” sources, and copyright
Free trade with Commonwealth Nations
Similar political environment
Queen as head of state

ECONOMIC

Low interest rates in Australia reflect on a rise in retail sales
In 2012, total Australian investment in the UK was $217.88 billion – making the UK, Australia's second most important foreign investment destination.
Australians spent $24.3 billion online in the 12 months to March 2013, a yearly increase of 11.9% – total retail sales rose just 3.4% for the same period.
Higher wages in Australia than London
TECHNOLOGY

Online shopping
The average online shopper spends $285
Top categories purchased are: travel, entertainment & leisure, electronics, fashion and food & beverages

SOCIO-CULTURAL

Both the UK and Australia are highly multicultural.
Higher density of ‘wealthy’ in the UK than Australia.
Pay gap between men and women
AUS - average life expectancy 81.85 years (2011).
UK- average life expectancy 80.75 years (2011).

Positioning Statement
The Tom Ford womenswear line provides a luxurious lifestyle with amazing products for the up-market woman (between 25-45) who desires high quality and distinctive womenswear.
SWOT Analysis for Introducing Tom Ford Womenswear in Australia
Sustainability Policy Recommendations
Potential store sites - Crown Emporium Melbourne
Fits in well with other luxury brands e.g. Louis Vuitton
Many events held at Crown
Simplicity and ease of shopping at Crown
The prestige brands
Tom Ford target market at Crown
http://www.tomford.com/
http://www.powerretail.com.au/insights/roy-morgan-research-shows-over-50-percent-of-australians-shop-online/#ixzz2wDOlCJUh
http://www.theaustralian.com.au/business/opinion/low-interest-rates-fire-up-demand-economic-growth/story-e6frg9if-1226856370947#
http://news.bis.gov.uk/imagelibrary/downloadmedia.ashx?MediaDetailsID=6389
http://en.wikipedia.org/wiki/Tom_Ford
https://www.facebook.com/tomford
http://www.style.com/
References Used:
The UK retail sector encourages economic growth
Covers all businesses that sell goods to the public, including large chains, department stores and independent stores.
The sector employs over 10 percent of the UK workforce
Britain’s largest private sector employer
Conclusion:
With these recommendations, such as, the placement of the store and the launch campaign, Tom Ford's womenswear will be successful in the Australian retail market.
Germany: 1 Store
Full transcript