new product development varvatos
TRANSCRIPT
Presentation OverviewPresentation Overview
History/Introduction
Goals, mission/statement
Audience
Brand/Product strategy
Costs
Approval/Customer Reactions
Presentation
Company HistoryCompany History
John Varvatos was born in Michigan
He joined Polo Ralph Lauren in 1983
In 1990 was appointed head of menswear design of Calvin Klein
In 2000 launched his debut collection
In 2010 released an exclusive line of men’s tailored suits and accessories called John Varvatos One for Converse
Mission/Vision Mission/Vision StatementStatement
JVO seeks to create urban elegance through suiting it
provides a choice between edgy and classic
gives menswear a more punk and rock-n-roll appeal.
This brand will focus on sleek styled suits with an urban
edge. JVO wants to be the “go-to” of men’s suiting.
Target MarketTarget Market
Young professional males
Ranging in age from 18-35
Fashion-minded individuals
Brand Marketing Brand Marketing StrategyStrategy
Strong marketing campaigno Celebrity endorsement dealso Mass media advertising (internet, TV , print)o Biyearly sample sales and events
• Training sessions and staff meetings
• Provide exceptional customer service and a 60-day return policy
• On site tailoring
SuppliersSuppliers
Hand-made Italian fabrics
Fabrics and cloth supplied from Italy and France
Buttons, pins and accessories will be shipped from Asian countries
Product DevelopmentProduct Development
Brainstorming of possible opportunities o Involve sales people, design team, employeeso Attend trade and fashion showso Produce storyboardso Search for repetitive patterns and fabricso Follow the competitors
Concept Development Concept Development & Testing& Testing
Research on copyright laws and patents
Develop a logistics plan ( pricing, target market)
Computer aided design to visualize the idea
Possible consumer reactions
Test the concept by handing out samples
Launch of ProductLaunch of Product
Advertising and marketing campaigns
Data sheets, line sheets
Promotions and events to get the word out
Analyzing path of product
Product Core StrategyProduct Core Strategy
Assessing competitors
Weekly meetings discussing progress, problems and ideas
Dedication to customer loyalty and service
All teams have effective leaders (sales, design, administrative)
Communicating the Communicating the Product StrategyProduct Strategy
The John Varvatos look is one which is inspired by edginess and rock n’ roll
The new Men’s Suit collection will be designed with the Converse customer in mind
Provides a more stylish and sleek look
The brand will focus on classic style with an urban edge
CompetitionCompetition
Gucci
Prada
Calvin Klein Collection
Polo Ralph Lauren
Giorgio Armani
Helmut Lang
Marc Jacobs
Paul Smith
Richard Chai
Burberry Possum
LLayout ayout DDesignesign
Desired Colors in Suiting
Fabrics will consist of :
SilkTweedWool CottonPolyester
Estimated CostsBus Driver Jacket $1195
Button up $165-$198
Tee$88-$300
Dress Pant starting from$165
Product Risks
• Losing the classic customer– John Varvatose faces the possibility of
losing its tailored and classic customer base. This customer may not be drawn to the rock-n-roll meets punk (Converse) look.
• Pricing– The customer who shops at converse may
think that the price point is too high; This opposed to a Zara or Top Shop apparel store pricing might be steep.
Uniqueness and Value
• The John Varvatos brand for Converse not only adds a stylish edge, but gives the target consumer a chance to express himself in more ways than one.
• Versatile looks: able to dress up or dress down
• The quality of the clothing is well worth the price. The tailored garments adds prestige to the brand giving a competitive edge to the name.
Product Line StructureProduct Line Structure
Product Line Templatebasic design elements will remain the same for Fall/Winter and Spring/Summer. Fabric and color swatches will change accordingly to the newest, most innovative styles.
Core and Carryover Products: basic styles: Suit jacket, Pant, and button-up
shirt will remain as core/staple products. Carryover: fashion-forward garments.
Design and Product Design and Product ReviewReview
Storyboard: Graphic organizers to display in sequence our line, a pictorial representation of our proposed clothing design in full color. As follows:
Johnny Depp as our fashion figure, clothed in our designs on a flat working figure (a line of super-relaxed silhouettes that had both masculine appeal and rocker glam).
Swatches of our fabrics (all the fabrics used)
Color palettes (all the colors that are used in our designs)
Any trims used
Photographs of our garments
Customer ReactionCustomer Reaction
Storyboard allied with our garments. Heavily invest on core products – caution on fashion forward line.
Sales package: computer graphics, price book, samples, swatch cards, garment samples and catalogue.
Pricing: fabric + trims + direct/indirect costs + position in competitive matrix = our final price to retail : $900, and MSRP: $2000
ApprovalApproval
Minimum established by total dollar quantity throughout the whole product line.
Pattern makers interpret design team sketch, followed by sample maker to sew. Creation of prototype to present product line on review meeting design evaluated as design concept to be presented to design team and company’s executive followed by, once approved, submit line sheet to create garment samples sales representative to use at trade shows and market weeks.
Marketing PresentationMarketing Presentation
Fashion/Market Week: tradeshows during market week in NY and Los Angeles, February and September.
Online Communication: social networking (interaction customers/brand) + stimulate awareness + customers to follow latest news + build the brand through affiliated programs and email marketing + search engine optimization + e-commerce.
Sales: attract clientele through tradeshows and road force. 5 sales rep in the east coast + 5 in the west coast, working strictly on commission of 12 %.