Fashion Forecasting Report - Mackenzie McGilvrey€¦ · MackenzieMcGilvrey) FCFA365)...

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Mackenzie McGilvrey FCFA 365 Forecasting Report I. Market Category The market category is women aging from early 20’s to middle or late 30’s. These women make enough income to splurge and afford the most recent fashion trends. I’m focusing on women, because young women promote fashion more than men. Women find fashion as a hobby. Decade: 20042014 II. Background Information A. Identify at least 3 significant world economic/political/cultural developments or events a. Olympics i. The Olympics are always a significant event in the world of fashion because the different cultures from all around the world meet in one place to not only watch sporting events, but to examine the different world fashions. ii. The creation of the opening ceremony uniforms and closing ceremony uniforms is an important job. The 2012 Olympic uniforms were designed and created by Ralph Lauren. iii. With famous designers designing these uniforms, American people feel more connected and tied to the designers. They are compelled to buy the designer’s work, because they see the designer is significant enough to design these lavish uniforms. b. Michael Jackson dies in 2009 i. Michael Jackson’s death in 2009 was an important factor in fashion because shortly afterwards, designers were bringing his jeweled jacket look back into their collections to honor the king of pop. ii. Some designers were taking the simple white glove and adding it to the runway. Along so, they were innovating the white tee, black pants, and black hat look. c. War on Terrorism i. The war on terrorism affected fashion because Americans did not want to purchase items that were produced in the Middle East. ii. The war also put our economy into a recession, therefore preventing Americans from spending money on highend fashion. d. Facebook is launched in 2004 i. Over 500 million people use Facebook. The launch of the social media website helped people post and display pictures of their social lives to others.

Transcript of Fashion Forecasting Report - Mackenzie McGilvrey€¦ · MackenzieMcGilvrey) FCFA365)...

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Mackenzie  McGilvrey  FCFA  365  Forecasting  Report    I.  Market  Category  The  market  category  is  women  aging  from  early  20’s  to  middle  or  late  30’s.  These  women  make  enough  income  to  splurge  and  afford  the  most  recent  fashion  trends.  I’m  focusing  on  women,  because  young  women  promote  fashion  more  than  men.  Women  find  fashion  as  a  hobby.    Decade:  2004-­‐2014    II.  Background  Information  

A. Identify  at  least  3  significant  world  economic/political/cultural  developments  or  events  

a. Olympics  i. The  Olympics  are  always  a  significant  event  in  the  world  of  fashion  because  the  different  cultures  from  all  around  the  world  meet  in  one  place  to  not  only  watch  sporting  events,  but  to  examine  the  different  world  fashions.  

ii. The  creation  of  the  opening  ceremony  uniforms  and  closing  ceremony  uniforms  is  an  important  job.  The  2012  Olympic  uniforms  were  designed  and  created  by  Ralph  Lauren.  

iii. With  famous  designers  designing  these  uniforms,  American  people  feel  more  connected  and  tied  to  the  designers.  They  are  compelled  to  buy  the  designer’s  work,  because  they  see  the  designer  is  significant  enough  to  design  these  lavish  uniforms.  

b. Michael  Jackson  dies  in  2009  i. Michael  Jackson’s  death  in  2009  was  an  important  factor  in  fashion  because  shortly  afterwards,  designers  were  bringing  his  jeweled  jacket  look  back  into  their  collections  to  honor  the  king  of  pop.  

ii. Some  designers  were  taking  the  simple  white  glove  and  adding  it  to  the  runway.  Along  so,  they  were  innovating  the  white  tee,  black  pants,  and  black  hat  look.  

c. War  on  Terrorism  i. The  war  on  terrorism  affected  fashion  because  Americans  did  not  want  to  purchase  items  that  were  produced  in  the  Middle  East.  

ii. The  war  also  put  our  economy  into  a  recession,  therefore  preventing  Americans  from  spending  money  on  high-­‐end  fashion.  

d. Facebook  is  launched  in  2004  i. Over  500  million  people  use  Facebook.  The  launch  of  the  social  media  website  helped  people  post  and  display  pictures  of  their  social  lives  to  others.  

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ii. The  site  also  helped  stores,  designers,  and  other  fashion  gurus  connect  to  their  target  market.  

iii. The  photo  albums  and  articles  Facebook  users  can  post  show  their  personal  style  and  taste  to  other  Facebook  users.  

B. Identify  at  least  5  established  designers  of  the  past  decade  and  how  they  have  contributed  to  the  fashions  of  the  past  decade  

a. Marc  Jacobs  i. Marc  Jacobs  is  an  established  designer  that  has  contributed  a  lot  to  the  fashion  industry.  He  was  one  of  the  first  designers  to  establish  and  make  the  grunge  look  popular  in  America.  

b. Dolce  &  Gabbana  i. Dolce  &  Gabbana  was  an  established  brand  because  they  helped  style  and  brand  Madonna,  which  was  adored  by  all  young  women.  

ii. Young  women  developed  the  desire  to  wear  Dolce  &  Gabbana  because  Madonna  wore  Dolce  &  Gabbana.  

c. Versace  d. Calvin  Klein  

i. Calvin  Klein  was  the  face  of  America  during  the  90’s,  within  the  fashion  world.  All  Americans  desired  his  high-­‐end  jeans  and  comfortable  style.  

ii. Calvin  Klein  collection  eventually  became  the  symbol  of  America.  If  you  were  not  wearing  Calvin,  you  did  not  have  true  American  fashion.  

e. Karl  Lagerfeld  i. Karl  Lagerfeld  is  considered  an  established  designer  because  of  how  much  experience  he  has.  He  currently  designs  for  Fendi  and  Chanel.  Women  envy  his  designs.  

ii. His  haute  couture  designs  make  women  want  to  buy  his  clothes.  He  is  a  high-­‐class  social  figure  and  women  respect  his  work.  

C. Identify  at  least  5  newly  popular  designers  of  the  past  decade  and  how  they  have  contributed  to  the  fashions  of  the  past  decade  

a. Olsen  Twins  i. The  Olsen  twins  are  new  to  the  designing  scene,  but  they  have  always  been  present  and  up-­‐to-­‐date  with  current  fashion.  

ii. They  are  girls  young  women  can  relate  to.  b. Lauren  Conrad  

i. Lauren  Conrad  is  also  a  role  model  to  young  women.  ii. Lauren  Conrad  has  three  different  brands  

1. Lauren  Conrad  for  Kohl’s  2. Paper  luvs  Crown  3. The  Little  Market  

c. Jason  Wu  i. Jason  Wu  started  designing  clothes  as  a  free  lance  designer  

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ii. He  designed  dresses  for  Michelle  Obama,  Ivana  Trump,  and  January  Jones.  

iii. In  2013  he  was  named  art  director  for  the  German  fashion  house,  Hugo  Boss  

d. Alexander  Wang  i. Alexander  Wang  initially  started  his  own  company  creating  his  own  designs  and  clothes  

ii. Later  he  became  creative  director  for  Balenciaga  iii. He  is  known  for  his  urban  themed  RTW  lines  

e. Zac  Posen  i. Zac  Posen  is  a  new  designer  creating  haute  couture  gowns  ii. He  has  also  created  affordable  lines  and  collections  for  Target  iii. Recently,  he’s  teamed  up  with  David’s  Bridal  to  make  elegant  

affordable  gowns  for  all  women      

III.  Current  Fashion  A. Identify  at  least  3  significant  world  economic/political/cultural  

developments  that  have  impacted/are  currently  impacting  fashion  in  your  market.  Provide  justification  

a. “Going  Green”  i. People  are  deciding  to  use  recycled  or  organic  material  in  their  clothing,  because  it’s  dawned  as  “better  for  the  environment.”  

ii. People  think  if  they  wear  organic  material,  they  are  using  environmental  resources  as  opposed  to  creating  synthetic  material.  

b. Clothes  for  charity  i. People  buy  clothes/fashion  accessories  for  profit  or  nonprofit  charities  to  help  others  in  need.  

ii. Buy  one  pair  of  Toms  shoes,  and  a  person  in  Africa  will  receive  a  free  pair  of  shoes.  

iii. Buy  an  Inspi(RED)  AIDS  t-­‐shirt  and  some  of  your  money  is  contributed  to  AIDS  research  for  a  cure.  

c. PETA  i. Women  are  more  fur  conscientious  and  wear  faux  fur.  ii. Wearing  faux  fur  makes  women  believe  they  are  saving  an  

animal’s  life  instead  of  wearing  real  fur.  B. Identify  the  basic  elements  which  dominate  your  market  (support  with  at  

least  3  pictures/illustrations  for  each  element:  a. Silhouette:  Draping  

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   b. Colors/patterns:  herringbone  

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c. Fabrics/textures:  sequins  

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 d. Trims  and  details:  embroidery  

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 C. Identify  the  factors  dominating  the  market  (support  with  at  least  3  pictures  

for  each  factor)  a. Look  of  the  market:  Tailored  

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 b. Mood  of  the  market:  Refined  

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 c. Lifestyle  of  the  market:  Simplicity  

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D. Identify/list  at  least  5  major  trends  for  the  current  season.  Provide  justification  as  to  why  you  consider  these  major  trends  (support  with  3  pictures  for  each  trend).  

a. Hunter  Rain  Boots  i. Women  are  buying  Hunter  rain  boots  because  they  are  versatile  for  different  seasons  and  geographic  regions.  

 ii. Women  wear  them  for  not  only  rain,  but  snow  as  well.  

 iii. Some  women  substitute  them  for  leather  boots  as  well.  

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 b. Military  boots/doc  martens  

i. Military  boots,  especially  Doc  Martens,  are  being  paired  with  the  grunge  look/movement  some  women  partake  in.  

 ii. They  come  in  different  colors,  patterns,  and  styles.  They  can  be  

paired  with  leggings,  jeans,  or  even  skirts.  

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 iii. Young  women  are  buying  these  shoes  because  stores  like  

Urban  Outfitters  are  portraying  them  as  retro  and  hip.  They  originally  were  a  hit  in  the  90’s  and  now  they  are  being  brought  back.  

 c. Leather  leggings  

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i. Women  are  buying  black  leather  leggings  because  they  provide  comfort  and  style.  

 ii. These  leggings  are  dressier  than  traditional  cotton/spandex  

leggings.  

 iii. They  can  be  paired  with  dressier  tops,  sweaters,  coats,  etc.  

 

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d. Elbow  patch  sweaters  

 i. Women  are  wearing  elbow  patch  sweaters  because  it’s  a  simple,  clever,  and  stylish  DIY  upgrade  to  a  plain  sweater.  

 

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ii. The  trend  started  on  Pinterest,  then  companies  like  L.L.  Bean  and  J.  Crew  started  creating  the  patchwork  on  their  sweaters.  

   e. Duck  boots  

i. Duck  boots  were  initially  sold  in  hunting  stores  and  magazines,  but  chic  outdoor  stores  like  Eddie  Bauer  started  selling  these  shoes.  

 ii. Every  day  women  saw  Eddie  Bauer,  J.  Crew,  and  L.L.  Bean  

women  wearing  these  shoes  in  advertisements  with  chic  outfits  on.  

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 iii. This  prompted  women  to  follow  the  trend.  

 E. Identify/list  at  least  5  new/incoming  trends  for  the  current  season.  

a. Vibrant  Fur  coats  i. Vibrant  fur  coats  will  be  famed  this  season  because  they  offer  warmth  and  status.  

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 ii. Women  are  buying  these  coats  because  they  symbolize  status.  

A  fur  coat,  real  or  fake,  makes  a  woman  look  affluent.  

 iii. All  women  want  to  look  like  they  have  the  money  to  support  

their  great  taste.  The  millennial  generation  supports  this  theory.  

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 b. Blanket  scarves  

i. Women  are  buying  blanket  scarves  because  big,  chunky  accessories  will  be  prominent  this  season.    

 ii. Geographic  elements  like  ruthless  weather,  promote  women  to  

buy  these  thick  scarves.  

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 iii. With  flannel  being  trendy,  these  blanket  scarves  are  similar  

and  come  in  many  different  types  of  plaid.  

 c. Metallic  accessories  

i. Metallic  temporary  tattoos,  clutches,  technology  cases,  and  jewelry  will  all  be  fashionable  this  season.    

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 ii. Highly  respectable  designers  are  creating  these  glossy,  lustrous  

pieces.    

 iii. Women  feel  the  need  to  keep  up  with  the  fashion  world.  

Buying  these  accessories  makes  women  think  they  are  updating  their  dress.  

 d. Ponchos  

i. Famous  celebrities  like  Blake  Lively,  Olivia  Palermo,  Rosie  Huntington  Whitley,  and  others  have  been  spotted  wearing  poncho  coats.  

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 ii. Women  see  celebrities  wearing  this  trend,  which  makes  it  

seem  acceptable  and  chic.  

 iii. The  more  celebrities  they  spot  supporting  this  trend,  the  more  

drive  the  women  have  to  buy  the  product/clothing.  

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 e. Boyfriend  Jeans  

i. Women  are  buying  boyfriend  style  denim  because  they  more  comfortable  and  modish.  

 ii. Girls  who  wore  their  boyfriend’s  clothes  with  their  own  mix  of  

clothes  became  a  famous  trend.  Then  clothing  labels  started  designing  boy  cuts  for  a  woman’s  body.  

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 iii. Celebrities,  stylists,  and  modern  women  are  all  wearing  

boyfriend  style  denim.  

 F. Identify/list  at  least  3  declining  trends  for  the  current  season.  

a. Ugg  boots  i. Ugg  boots  are  slowly  declining  because  there  is  too  many  knock  off  brands.  Therefore  they  lose  the  “expensive”  shoe  

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element,  because  too  many  other  companies  are  recreating  them.  

 ii. They  are  too  chunky,  flamboyant  and  do  not  compliment  

mature  style.  

 iii. My  target  market  would  buy  these  for  snow  purposes  only.  

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 b. Graphic  printed  crop  tops  

 i. Graphic  printed  crop  tops  are  declining  because  the  tops  are  too  juvenile  and  simply  unnecessary.  

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 ii. Mature  women  find  these  shirts,  sometimes,  inappropriate  and  

non-­‐flattering.    

c. Chevron  i. Chevron  is  being  dated  out  of  style,  because  it’s  already  surpassed  its  growth  stage.  

 ii. It  has  already  hit  its  peak,  and  now  people  are  straying  away  

from  the  design.  

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 iii. It  is  no  longer  “new”  and  “trendy.”  

                 

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IV.  Future  Fashion  Trends  A. Provide  5  Future  Trends  for  2015  

a. Box  dresses  i. I  see  box  dresses  becoming  current,  because  box  tops  were  a  widespread  success  over  the  years.  

ii. Everyone  loves  a  form  fitting  dress,  but  a  boxy  dress  is  a  new  addition  to  the  fashion  mix.  

iii. Baby  doll  dress/tunics  transformed  to  short  sleeve  box  cut.  

 b. Feathers  

i. Faux  fur  is  very  popular  for  the  current  season,  but  I  think  faux  feathers  will  make  an  appearance  next  year.  

ii. Fur  and  feathers  are  very  similar.  iii. Feathers  are  currently  popular  in  wedding  gowns,  but  I  think  

they’ll  transform  from  bridal  to  formal  social  wear.  

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 c. Monochrome  

i. My  target  market  is  developing  a  more  simple  and  clean-­‐cut  wardrobe,  therefore  I  can  see  monochrome  showing  up  next  season.  

ii. Monochrome  is  simple,  classic,  and  effortless.  

 d. Scales  

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i. Recently,  labels  like  Marc  Jacobs  and  Burberry  have  been  working  scale  detailing  into  their  skirts.  

ii. I  predict  2015  will  encounter  more  scale  work  being  done  to  garments,  attempting  to  replace  sequins.  

 e. Monograms  

i. Monogram  accessories  are  prevalent  in  today’s  society,  but  I  think  monogramed  ponchos,  shawls,  etc.  will  become  more  common  next  year.  

ii. Burberry  is  setting  the  scene,  but  who  will  follow?  

 


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