Assesment One

8/2/2019 Assesment One

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Annexure-1

Name: Sneha Goyal Roll no.: DFR10319Email id: [email protected]

PROJECT PROPOSAL1. Project Title: Project on Visual Merchandising (VERO MODA)2. Synopsis/Introduction on the Project:(A statement of about 1000 words describing what the project is about/ the Rationaleand the Scope and Background of chosen title)

Although Vero Moda uses a good display technique for merchandise presentation, but as compared toits competitors like Forever 21 and Zara, it lacks clarity in presentation of certain merchandise andaccessories.

So, there is a huge scope for the brand to grow as It is 3rd store after Forever 21 and Zara that caters only to women. With a change in the display, merchandise sales can be stimulated.

It can attract customer interest and reduce shopper fatigue. Effective merchandise display will increase merchandise visibility and improve overall traffic flowthroughout the store.

3. Problem Statement:TECHNIQUES USED IN DISPLAY OF MERCHANDISE WITH DIFFERENT BRACKET WALLS IN CASE OFOVER STOCKING AND UNDER STOCKING.

4. Project Objectives (Purpose of proposed investigation)To make the store look visually balanced in terms of VisualMerchandising and to make it appealing for the customers.

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5. Research Methodology (Research Design, Methodology, Sampling, Data Collectionetc.Also, give justification to why you are using the specified method)Experimental Research: An attempt by the researcher to maintain control over all factors that mayaffect the result of an experiment. In doing this, the researcher attempts to determine or predict whatmay occur.

6. Project significance and value: (Relevance to the Industry and to the Organization)

The organization would be able to understand its customer expectations. To build relations with customers and create loyal customers. By empowering both retailers as well as the customer. It will also lead to the increment in conversion and footfall.

7. References: Initial l ist of bibliographic and Internet materials that would be used tocomplete the project / References for literature reviewed. Only Harvard ReferencingStyle. See the attachment for Harvard Referencing.Cross, Vanessa Retail Design Projects, June 9, 2011

http://www.ehow.com/info_8569379_retail-design-projects.html

http://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/newpage2.htm

I wish to carry out the dissertation on the basis of the proposal given in this format. I undertake toabide by the general regulation of the institute.

Signature of the Applicant:

Name of the Applicant: Sneha Goyal

Faculty Mentor Name and Signature: Charneeta Kaur

Industry Mentor Name and Signature: Aditi Bandhu

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http://www.ehow.com/info_8569379_retail-design-projects.htmlhttp://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/newpage2.htmhttp://www.ehow.com/info_8569379_retail-design-projects.htmlhttp://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/newpage2.htm


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OVERVIEW OF INDUSTRYBESTSELLER is a family-owned company founded in Denmark, in 1975 by Merete BechPovlsen and Troels Holch Povlsen. Today, the company directly employs more than 12,100people of whom approx. 3,200 work in Denmark.

BrandsBESTSELLERs fashion wear and accessories are designed, developed and sold to youngwomen and men, teenagers and children under the brands JACK & JONES, NAME IT,MAMALICIOUS , OBJECT COLLECTORS ITEM, ONLY, OUTFITTERS NATION, PIECES,SELECTED, VERO MODA and VILA CLOTHES.

MarketsBESTSELLER sells its products on 46 markets in Europe, the Middle East, Asia and Canadathrough more than 2,800 chain stores, of which over 300 are situated in Denmark, and12,000 external multi-brand stores. In 2010/11 BESTSELLER opened 450 new stores.

Suppliers and corporate sustainabilityBESTSELLER has no ownership interests in the production chain but cooperates withselected suppliers primarily in China, India, Bangladesh, Turkey and Italy. WithBESTSELLERs Code of Conduct, BESTSELLER works to ensure a sustainable approach in thecooperation with the suppliers.

Development workIn 1995, the BESTSELLER FUND was established as an independent charitable organization.

The fund does humanitarian work and supports various cultural initiatives in Denmark andabroad. With development projects in China, India and Africa, the BESTSELLER FUND works

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to secure a sustainable and socially equitable economic development in poor areas while atthe same time preserving local cultural heritage.

OwnershipBESTSELLER is 100% owned by the Holch Povlsen family with Anders Holch Povlsen as CEOof the company. BESTSELLER Fashion Group China is an independent BESTSELLER companyowned by the Holch Povlsen family and two Danish business partners in China. BESTSELLERFashion Group China designs its own collections for the approx. 4,500 stores in China.

10 Basic PrinciplesMore than 30 years ago Troels Holch Povlsen, BESTSELLER's founder, phrased the 10 basicprinciples of the company. The principles were reliable guidelines back then, and today theystill express the essence of the BESTSELLER spirit.

We are honest

We are hard-working

We are loyal

We are co-operative

We are business minded

We want to see results

We want simple solutions

We take nothing for granted

We always keep our promises

We want to be the best

VisionOur vision: One World, One Philosophy, One Family is the symbol of the company culture inBESTSELLER.

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One WorldOur world is built on fairness and opportunities. Cultural differences are an advantage,which will promote quality, extraordinary results and good values. Always trying to givemore than we promise we try to meet remoteness with closeness.

One PhilosophyWe make BESTSELLERs 10 Basic Principles come alive. We are humble and together wework hard. We base our co-operation on trust, partnership and honesty. We treat all people

as individuals but we think and act as a team. Therefore we succeed.

One FamilyThe backbone of BESTSELLER is our family feeling. We help each other and have unlimitedfaith in our relatives. We show our identity in the good examples we set for one another.We are proud of our family. It is both our link to the past and the foundation of our future.

COMPANY PROFILE

ORIGINA simple idea to create top quality clothing reflecting the latest fashion trends at affordable

prices was the start signal for one of Europe's largest clothing brands for young women -

VERO MODA. The idea was the inspiration of Troels Holch Povlsen, who started the business

behind the label in 1987, and VERO MODA was one of the first brands in the Bestseller

family to be created.

It quickly became clear that the brand was here to stay, and VERO MODA's healthy and

successful start provided a solid foundation for the continuing expansion and success of the

brand. Since its inception in 1989, VERO MODA has become synonymous with contemporary

fashion and designs desired by young women throughout the world.

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In 1998, VERO MODA had a staff of 15 and the brand was represented in three countries. In

2009, VERO MODA's products were available in 45 countries and a staff of 170 individuals

worked at the company's headquarters in Brande, with an additional ever-increasing number

of employees across the globe and 75 external sales representatives.

VERO MODA boasts a powerful position in the Scandinavian market which, along with

Germany, China, and the Netherlands, has most of the brand's outlets. VERO MODA is also

strongly represented in southern and central Europe and the Middle East. More recent

markets include France, the UK, and Canada. Each market is a valuable sales platform,

enabling the company to ensure continuous and positive brand development. Dynamic

growth and the conquering of new markets, combined with persistent and loyal work in

established markets, continues to guarantee the overall growth and success of Vero Moda.

VISIONVERO MODA - Powered by fashion peopleThis is VERO MODA's vision. These words represent a persistent effort to improve and

develop the efficiency of the entire brand - every department, every function - at all times.

Our goal is to create and maintain the best workplace possible for staff, partners and

suppliers, and to ensure the customer value for money, fashion and innovation. The means

through which to achieve this are positive leadership, cooperation, responsibility, dedication,

training, commitment, motivation and trust at both strategic and operational levels.

HISTORYTHE STORY OF VERO MODA

A simple idea to create top quality clothing reflecting the latest fashion trends at affordable

prices was the start signal for one of Europe's largest clothing brands for young women -

VERO MODA. The idea was the inspiration of Troels Holch Povlsen, who started the business

behind the label in 1987, and VERO MODA was one of the first brands in the Bestseller

family to be created.

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It quickly became clear that the brand was here to stay, and VERO MODA's healthy and

successful start provided a solid foundation for the continuing expansion and success of the

brand. Since its inception in 1989, VERO MODA has become synonymous with contemporary

fashion and designs desired by young women throughout the world.

In 1998, VERO MODA had a staff of 15 and the brand was represented in three countries. In

2009, VERO MODA's products were available in 45 countries and a staff of 170 individuals

worked at the company's headquarters in Brande, with an additional ever-increasing number

of employees across the globe and 75 external sales representatives.

VERO MODA boasts a powerful position in the Scandinavian market which, along with

Germany, China, and the Netherlands, has most of the brand's outlets. VERO MODA is also

strongly represented in southern and central Europe and the Middle East. More recent

markets include France, the UK, and Canada. Each market is a valuable sales platform,

enabling the company to ensure continuous and positive brand development. Dynamic

growth and the conquering of new markets, combined with persistent and loyal work in

established markets, continues to guarantee the overall growth and success of Vero Moda.

ORGANISATIONAL STRUCTURE

ACCOUNTS DEPARTMENT: Takes care of the profit and loss, expenditure, salesand monetary transactions of the company. It is also responsible for the salary of theemployees. HUMAN RESOURCE: Takes care of the man power of the company. MARKETING HEAD: Takes care of the endorsement as well as sales of thecompany.

RETAILING: Gives a platform to attract the customer. BUYING: A buyer purchases the stock from the main store and sells it in his ownoutlet.

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ACCOUNTS

DEPT.

VERO

MODA

HUMAN

RESOURCE

MARKETING

HEADBUYINGRETAILING


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LIST OF KEY MANAGEMENT PERSONNEL

CURRENT SALES

SALES (IN RUPEES)CURRENT SALES OFFEBRUARY 2012

37 LACS

STORE TARGET FORMARCH 2012

22, 71,000

MONTH TILL DATEACHIEVED

4, 60,824

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COUNTRY HEAD

BRAND HEAD OPERATIONAL

HEAD

BUYERS

ALLOCATORS

REGIONAL

MANAGERS

STORE

MANAGERS


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PRODUCT MIX

VERO MODA lives and breathes trends. Our contemporary international collections offer

cant-live-without pieces alongside essential wardrobe staples.

VERO MODA consists of five lines, each adding a different dimension to the brand, ensuring

every customer is catered for.

VERO MODAThe VERO MODA mainline interprets catwalk trends at chain store prices. Fun and youthful

pieces are mixed with elegant grown-up styles to reflect the VERO MODA womans mood.

VERO MODA JEANSThe anchor of the collection, VERO MODA JEANS combines essential denim with menswear-

inspired separates for a touch of rock n roll.

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VERO MODA VERYThe VERO MODA VERY line is groomed, grown-up and above all, confident. VERO MODA

VERYs raison dtre is quality, innovative cuts and always sophistication.

VERO MODA BASICVERO MODA BASIC is your one-stop-shop for wardrobe essentials. Think ribbed tanks, tees

and classic shirts in neutral hues, peppered with seasonal bright to compliment and

complete any wardrobe.

VERO MODA INTIMATESThese seductive lingerie collection offers affordable but indulgent pieces for every woman,

every day. Playful or glamorous bras are available in an A to F cup.

TARGET GROUP/CLIENTELEFrom the very beginning, VERO MODA made a name for itself on the fashion scene by using

international top models in marketing campaigns. Over the years Helena Christensen,

Claudia Schiffer, Christy Turlington, Kate Moss, and Gisele Bndchen have been

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instrumental in creating VERO MODA's profile. As a result, VERO MODA has secured a

confident position alongside other international brands.

VERO MODA is the brand of choice for the fashion-conscious, independent young woman

who wants to dress smart and pay less. With a range of four design lines

- VERO MODA, VERO MODA JEANS, VERO MODA VERY, and VERO MODA BASIC

- to cover the needs of each and every customer, VERO MODA offers quality, affordable,

and inspiring clothing for the young woman who wants to look good and have fun with her

look in a trustworthy fashion-oriented context. At VERO MODA, the customer finds the right

clothes at the right price and consequently the opportunity to follow fashion on her own

terms.

DISTRIBUTIONVERO MODA products can be found in more than 45 countries, 2000 VERO MODA stores,

and 3300 wholesale stores across the globe - from leading multi-brand stores, department

store shop-in-shops, and our own stores to the recently opened web shop at

veromoda.com. Our large international sales team works from 70 showrooms across the

globe ensuring the cohesive expansion of VERO MODA in both new and existing markets.

Our success is based on the profitability of purchasing VERO MODA, which in turn cements

our position as key supplier for each customer.VERO MODA stores are fundamental to the company's continuing success. They are both

retail outlets and important marketing channels for the brand, representing the essence of

VERO MODA and the totality of our efforts. Thus, as part of its strategy, VERO MODA always

endeavours to open stores in A+ location - the most attractive and central positions

available. The stores should lead the customer to feel she is always getting a bit more than

expected. The expression of this philosophy lies in attentive service, affordable prices,

fashionable clothes, and beautiful packaging. The store universe is warm and welcoming

with luxurious touches of high quality materials such as natural stone, wood, and steel.

Ongoing development of shop design and inventory ensures an efficient and enduringbackground for the presentation of the ever-changing collections.

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COMPETITORSThe nearest competitor of VERO MODA is ONLY and FOREVER 21. These brands also focuson selling merchandise for women.

ONLY

ONLY embraces the magic of the possibilities within everyday life. The philosophy is forONLY is:

ONLY live life to the fullest

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ONLY wear what you feel like ONLY feel it in your heart

ONLY the best is good enough

Current Sale (Feb 12) 21LACS (IN RUPEES)

Market Position 2nd

Product Mix H (cowboy), Love (feminine),

True (casuals)

FOREVER 21

A phenomenon in the fashion world, Forever 21 provides shoppers with an unprecedentedselection of today's fashions, always changing and always in style.

Current Sale (Feb 12) 50 LACS (IN RUPEES)

Market Position 1ST

Product Mix Dresses, Tops, Sweater andCardigans,

Outerwear, Bottom, Lingerie,Jumpsuit and Rompers,

Active wear,

SwimFUTURE PLANS

VERO MODA as a brand, itself makes global forecast for the brand.All the styles and colors are used and sold worldwide.

It also focuses on opening more number of stores in each and every city, so that it becomesconvenient for the customer who loves shopping from VERO MODA.

The company is also organizing several workshops to make the employees aware about thelatest trends and ways of styling the mannequins and display.

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Assesment One

Documents

Transcript of Assesment One