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Company Profile, Marketplace, and Six Month Buy Plan

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Company Profile, Marketplace, and Six Month Buy Plan company profile, marketplace, and six month buy plan Bri Burke Sarah Maupin Megan Powell Ava Tamborella Melody Uboh table of contents 01 – company profile 02 – competitive marketplace 03 – six month buying plan 01 - company profile - brand history - environmental impacts - brand mission statement - current strategies - brand identity - target customer - core values - social media presence - core strengths - scope and sizing - commitment to craft - merchandising venues target customer II scope and sizing - Owned under parent company LVMH. - LVMH helped them grow globally and expand their brand beyond Madrid. - 385m in sales globally per year. - 220 employees' total. Casa Loewe New York Flagship Store 02 - competitive marketplace - loewe swot analysis - competitor best sellers - product categories - lifestyle trends - loewe best sellers - technology trends - the making of the puzzle bag - media strategies - “show-in-a-box” - competitor analysis - “show-on-the-wall” - balenciaga analysis - fendi analysis - fashion trends - bottega veneta analysis - hermes analysis Strengths Weaknesses Opportunities Threats - Strong core brand values with - Hard to navigate website - Expansion of craft and - Competition has an edge nearly a 175 year history - Despite its history, brand leather heritage into on the youth market with - Iconic, coveted bags: awareness is still pretty garments slightly lower pricing and - The Amazona low. Many people do not - Collaborating with better more approachable, - The Puzzle Bag know who LOEWE is as a known artists trend-aligned products - The Flamenco brand even if they have - Sustainability: Upcycling - Other highly established, - Iconic logo that ties well with heard of the name before. leather goods coveted brands are also in marketing strategy - Apparel does not sell as - Immersive customer the leather goods market - Gender fluid branding with age well as leather goods experiences and under LVMH. inclusivity - Expansion of home - Excellent marketing strategy market during Covid: Show-in-a-Box and - Expand global reach by Show-on-the-Wall (SS21) increasing stores in North - LVMH parent company brings America and the ever- global expansion and recognition growing Asia market - LOEWE FOUNDATION and - Better advertisement and #LOEWEProjects expansion of Foundation - CASA LOEWE: concept flagship and projects stores (Beijing, Tokyo, London, Madrid) loewe best sellers BALLOON PUZZLE GATE FLAMENCO HAMMOCK $2,300 - $3,500 $1,950 - $3,400 $790 - $3,750 $1,750 - $3,600 $1,650 - $3,250 the making of the puzzle bag high brand recognition competitor analysis The selected competitors may not be recognized as direct competitors but represent high- end leather goods that are fashionable and recognizable. They represent sought after traditional fashionable names and status, and use aesthetic aesthetic trendy marketing strategies that set the standard. Each chosen brand are all high-end luxury: - Fendi - Balenciaga - Bottega Veneta - Hermés low brand recognition Balenciaga - Founded in Spain by Cristobol Balenciaga in the year of 1919. - Demma Gvasalia is the current creative director. - Balenciaga is one of the fastest-growing luxury brands. - Balenciaga bags are at a high demand. - Their bold and fashionable designs appeal to a younger audience, approximately 60%. - The target market includes a woman who is confident and well educated. - Starting to become more eco-friendly. - Excels in brand recognition and popularity. Fendi - Fendi was founded in Italy by Adele and Edwardo Fendi in 1925. - Kim Jones is the current creative director of Fendi. - Brand has a high value of craft. - Bags are known for their excellent designs and high quality. - The target market is aimed at a younger audience. - Fend has leverage on popularity due to celebrity endorsements, such as the Kardashians. Bottega Veneta - Founded by Michele Taddei and Renzo Zengiaro in Vicenza, Italy in 1966. - Daniel Lee is the current creative director. - Established as a premier fashion, leather goods, and handbags brand since their founding. - The brands target consumers have a sophisticated sense of style but still strive to be trendy and unique. - Since the introduction of a new creative director in 2018, Bottega Veneta has become a hit among young adults which expands into their previously older clientele. - Bottega Veneta has seen a drastic increase in revenue, an 8.5% increase, and have raised to the 10th spot on The Lyst Index’s hottest fashion brands. Hermés - Initially founded in 1837 by Thierry Hermès in Paris, France to produce high quality leather riding goods to noblemen. - Pierre Alexis Dumas is the current creative director. - They consider themselves an “ultra-premium luxury” leather goods brand. - Their target customer consists of those who have a very disposable income and value brand heritage and quality over all else. - Their customers are very loyal to them and most likely solely shop there for their ultra-premium luxury bags. - Their infamous “Birkin Bag” is said to be more valuable and a better investment than gold. - Most valuable resale leather goods bag. competitor best sellers Balenciaga Fendi Bottega Veneta Hermés “ville small top handle bag” “peekaboo iseeu medium” “the pouch” “the birkin bag” $2,150 $4,500 $2,700 $10,000+ lifestyle trends “The impacts of quarantined life have left many occasion wear, dress shoe and handbag brands in the red, as consumers opt for cozy comfort” - WGSN Lifestyle Trend: Above-the- shoulder dressing is more prioritized than investing in handbags or traditional leather goods & accessories. As safety becomes prioritized, people are seeking new technology trends ways of connecting, and industries, particularly the beauty sector, are finding new ways of interacting with consumers to maintain a level of intimacy in how they interact.” - WGSN “Companies should focus on technology and using technology as an emotional enhancer.” -Martina Rocca, Strategist, WGSN Insight Loewe aligns themselves with technology trends specific to each different geographic region i.e. collaborating with Paula’s Ibiza in partnership with an influential Beijing-based rock and indie music label - Modern Sky - in July 2020 for the “cloud” trend in China (a music event held online and offline) media strategies “light” digital presence & e-commerce strategy - “Loewe has kept a tight hold on its image and maintained control in a way that brands that have jumped on every platform in China have not.” - High-quality presentation of Loewe’s products/content & the enriched, educational nature of it all keeps target customers feeling cultured and connected to the past and the present - Loewe strikes a balance between maintaining a brand image that is predominantly exclusive while occasionally being accessible online - holds sporadic online pop-ups, making a small number of items available for very short periods of time Loewe Candles Loewe x Paula Ibiza Liberty London Le Bon Marché “show-on-the-wall” - Riding on the success of July’s Show-in-a-Box, Loewe did a Show-on-the-Wall concept to showcase next year’s spring/summer collection on October 2, 2020. - Loewe’s and creative director Anderson’s social accounts were used to share the process, from the collection pieces to the wallpaper mailed to guests ahead of time. - “The Show-on-the-Wall events integrate film, fashion, and friends of the house for a digital deep-dive into Anderson's inspiration and creative process while adding elements of a paper show.” fashion trends Amid current complications in today’s world, Loewe follows the trend of ‘soft bags’. These bags serve versatility and functionality while still being trendy. These soft bags will be the new timeless investment handbags that shoppers will value forever- fashion and function, no longer or. “Create investment pieces. Prioritize classic silhouettes such as the carry-all bag and the summer bucket, as they have held key status for multiple seasons. Use high-quality materials to protect their longevity and reduce markdowns”-WGSN. “Timeless designs and novelty styles both have a place in our pick of key fashion bags for S/S 22, as consumers look for long-term investments as well as mood-boosting purchases”-WGSN 03 – six month buy plan - corporate six month buy plan - select location buying plans - corporate assortment plan - statement of opportunity F/W 2021 Loewe Corporate Buying Plan (000’s): F/W 2021 6 Month Buying Plan (000’s): New York Flagship Analysis F/W 2021 New York Flagship Buying Plan (000’s): F/W 2021 6 Month Buying Plan (000’s): Miami Flagship Analysis F/W 2021 Miami Flagship Buying Plan (000’s): F/W 2021 6 Month Buying Plan (000’s): F/W 2021 Loewe Corporate Assortment Plan WLLG FW 2021 Buy QTY LOEWE Women’s Handbags by Price Point Key Bags by Theme / Price Point F/W 2021 Loewe Corporate Assortment Plan statement of opportunity We believe after carefully evaluating the six-month buying plan and product assortment for the Loewe F/W 2021 buying year, that the brand should, despite the raising prices in other global luxury brands, keep their price point relatively similar to the previous year. Considering that Loewe is a smaller niche leather goods brand compared to other large brands like Chanel, this seems to be the best move for Loewe to keep a consistent flow of consumers purchasing their bags. As well, due to Covid-19 many people are looking to buy quality products they know will last. Considering Loewe’s history in quality leather craft, now would be a great time to introduce an entry level bag to bring in consumers
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