suited men's boutique

Suited

Courtney Osborne

Vision Statement

•  Our vision at Suited is to continually provide men with the best quality products and high level of service while maximizing profit and minimizing the cost to our customers. We want to build community respect through social responsibility and build brand loyal customers.

Mission Statement

•  Suited is focused on empowering men through dress; enabling them to feel confident, comfortable, and carefree.

Company/Concept Statement •  Suited is a men’s apparel and accessories retail store targeting the

fashion-conscious male in their 20s through mid 30s. We are based in the heart of Chicago’s Lincoln Park neighborhood, just north of downtown and thrive off of this community atmosphere. We believe in selling quality, on-trend clothing that suits our customers’ needs while fitting their budget and lifestyle. Our products come in an array of categories including: suits, shoes, bags, shirts, pants, outerwear and accessories from ties, belts, socks, and pocket squares. Our sales associates and managers sell to our customers in a way that builds a relationship between them and the shopper by gaining their trust. They treat the customer in a professional way, without creating a disconnect between themselves and that person by simply pushing a product. Our stylists focus on wardrobing the customers and building outfits based on their tastes and lifestyle in order to help them shop the brand.

Company Culture

•  Suited believes that success begins from the inside. We hire a team that is passionate about fashion and dedicated to their work. We favor enthusiasm and charisma, and aim to hire a diverse group of associates who positively represent our brand. At Suited, we believe in creating a friendly work environment that allows associates to thrive and grow.

Customer The suited customer lives in Chicago and thrives in an urban environment. He is between the ages of 21 and 35 and is either finishing college or beginning his career, and maintains a middle to upper middle class family or single income. Because fashion and clothing is important to him, he likes to always have an up-to-date wardrobe that is mindful of current trends, but remains classic. He loves shopping at Suited because he feels comfortable in the store atmosphere, enjoys the customer service experience, and he feels confident and comfortable in the clothes. One of his favorite parts about being a frequent shopper at Suited is that he gets invited to the seasonal kick off parties of the new collections. In addition to Suited, he also shops at Urban Outfitters and J. Crew, but he doesn’t feel a strong connection with those stores like he does Suited. Suited is the first store he thinks of when looking to make a purchase, and he remains incredibly brand loyal.

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Segmentation Types/Bases Illustrative Categories

Geographic SegmentationRegion ChicagoCity Size 2,000,000Population density UrbanClimate Temperate (warm summers, cold winters)

Demographic SegmentationAge 21-35Gender MaleHousehold size 1-4 peopleIncome Over $75,000Occupation Professional, StudentEducation College

Sociocultural SegmentationCulture AmericanSub culture All Religion All National origin All Race AllSocial Class Middle Class, Upper Middle ClassMarital status Single, MarriedPsychographics Achievers, strivers

Affective and Cognitive SegmentationDegree of knowledge New ProfessionalBenefits sought Convenience, prestigeAttitude Positive, ambicious

Behavioral SegmentationBrand loyalty Divided, Undivited LoyaltyStore loyalty Divided, Undivited LoyaltyUsage rate Medium, HeavyUser status Current UserPayment method Cash, Credit CardMedia usage Newspapers, magazines, TVUsage situation Work, home, vacation

Competition

•  Akira Men •  Urban Outfitters

•  J. Crew

•  United Colors of Benetton

Branding

Colors: Green Black White Gray

Sign (on building):

Font(s): Baskerville Old Face Engravers MT

Edwardian Script ITC      Logo:

Product Assortment

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Location Fact Sheet Cross streets: Clark & Belmont

Total square footage: 2,650 SF

Dimensions of separate spaces: N/A

Shape of store: Rectangular

Location of entrances/exits Front, emergency in back

Location of windows: Front (display)

Monthly rent, Rental/square foot: $3,000 - $10 SF/P.YR

Terms of lease: N/A

Common are fees: Maintenance, Marketing, etc. (N/A)

Security deposit: N/A

Realtor fees: N/A

Expenses incurred by leasee: Electricity

Allowable renovations: Don’t disturb tenants

Landlord obligation for renovations: N/A

Store Décor and Visuals

Planagram

Fitting  Rooms  

Shoes  

Bags  

Mannequins  

Tee  Shirts  and  Sweaters  

Suits  

Denim  

Out9its  

Pants  

Coats  Shirts  

Dress  Shirts  

Suits  

Accessories  

E-Business

•  Facebook •  Twitter

•  Blogspot

Place

•  Suited is a Chicago based boutique style store that has one retail location at Clark and Belmont. As the business grows and we obtain a client base and following, we intend on opening more stores throughout Chicago, as well as launching an online store.

Price

•  Our clothing is sold at a contemporary price point. This price point allows us to offer quality merchandise at a competitive price that our customer can afford. Our prices range from $30 for a t-shirt to $325 for a suit jacket.

Marketing

•  Online Promotion: Customers are encouraged to visit our social media sites to learn about Suited and their products, company culture, and ways to style our clothing. In return for their support in “liking” out Facebook page, or following us on Twitter and Instagram, customers are given 15% off codes to print and use in stores the next time they shop.

Marketing •  In Store Promotions:

In store percentage discounts will take place sporadically depending upon how well a product is selling. For example, if t-shirts are not being purchased as frequently as expected, we would mark them at 20% off for a limited time to generate an increase in sales.

Marketing

•  Events: Community culture and customer relationships are very important here at Suited. To reinforce these concepts in store, Suited hosts four promotional events a year. These events take place in store and are thrown at the beginning of every new season’s first collection

Marketing

•  Events (cont’d), How They Work: The events are thrown for one hundred of the best clients by means of mailed invitations. These customers are invited to come to suited at 6 pm and shop the new collection at 10% off before any other customers. While there, clients may enjoy wine and beer accompanied by light appetizers. These events will be 21 and up.

Marketing

•  Advertising: Advertising for suited will focus strongly on appearing in small, local news papers such as papers at colleges.

Marketing

•  Publicity: In order to create a buzz about Suited and this semi-exclusive event, a press release will be drafted and sent out to local news papers three weeks prior to event dates. By doing this, we are hoping to get local media at the event to cover the party, atmosphere, and new collection. The kind of press we are looking to obtain are local bloggers, small papers, and social media personalities with a large following.

Marketing

•  Advertising Calendar:  Advertisement/Promotional Event

Month Estimated Sales For Ad./Event

Total Cost For Ad./Event

DePaul Newspaper Advertisement

March $300 $40.00

Columbia Newspaper Advertisement

March $220 $40.00

Redeye “Deals on Tap”

May $650 $99.99

Totals: $1,170 $180.00

Organizational Culture

•  Suited believes that success begins from the inside. We hire a team that is passionate about fashion and dedicated to their work. We favor enthusiasm and charisma, and aim to hire a diverse group of associates who positively represent our brand. At Suited, we believe in creating a friendly work environment that allows associates to thrive and grow  

Management & Leadership Style

•  Employee Motivation: Our employees are hired at minimum wage to start with an additional 2.5% commission rate. For motivation, employees have the ability to earn more money per hour by reaching sales goals and earning new client bases. Suited believes that motivated (and furthermore happy) employees lead to higher sales and better brand recognition due to positive reception.

Management & Leadership Style

•  Selling Programs: Every six months sales associates are up for review with the possibility of a raise. Suited believes that keeping our sales floor lively and active helps boost not only employee moral but the overall energy of the store and profits as well.

Management & Leadership Style

•  Employee Bonuses & Incentives: At Suited, we prefer to engage and treat our team of employees as family striving towards a common cause. Bonuses are given around the holidays to dedicated employees based their sales records for the year. Incentives include monthly award drawings for the highest selling associate, prizes such as restaurant and entertainment gift cards are given. Employees receive a 20% discount on merchandise to entice in store shopping and further the outside representation of our brand.

Human Resource Policies •  Ethics & Values:

– Service: We value service to the customer above all else. We believe we make a positive difference in their lives.

– Hard Work/Efficiency: We take pride in working hard and being efficient in what we do.

– Perseverance: We are never satisfied – always striving to do better.

– Teamwork: We win as a team. Effective teamwork yields superior results.

–  Integrity: We conduct our business in an honest, legal, and ethical manner.  

Human Resource Policies

•  Discounts: As an employee at Suited we want you to be aware of our product which is why we offer 20% off all year round. Violation of company discount policies will result in termination.

Human Resource Policies

•  Training: Employees are trained to ensure familiarity with all merchandise. Bi-monthly training sessions are conducted to ensure employees are up to speed with all merchandise, sales methods and company policies. All employees are undergo a series of training workshops before they may work on the sales floor.

Human Resource Policies

•  Schedule Sheet:

Merchandise Classification Sheet

Monthly Sales Plan

Sales Plan by Category / Class

Operations

•  Business Hours of Operation: Our business hours of operation are 9am to 9pm, Monday through Saturday, and 9am to 8pm on Sunday.

Operations

•  Loss Prevention & Security: Suited takes great pride in our customers and our products, therefore we take great pride in the security and loss prevention of said customers and products. 24 hour surveillance cameras are in place on the entrance and exit, the cash register and employee area. All of our products are bar-coded and tagged to prevent theft; sensors are located by all entrances and exits and alert the store if un-purchased items pass through them. When the store is closed all doors are locked and alarm system is activated to alert the managers and police of any break-ins/robberies.

Service Levels •  Holds: If you cant make your mind up on a several pieces

we will be happy to hold merchandise for up to 24 hours

•  Alterations: No alterations on site but we work with local tailors at inexpensive prices.

•  Returns: Easy returns within 30 days of the original purchase date. No refunds without original receipt.

•  Clientelling: One of the most important parts that keeps our business moving forward. All associates are accountable for making client appointments and maintaining client contact books.

Thank  you  for  your  -me.