New product development Varvatos

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Transcript of New product development Varvatos

Page 1: New product development Varvatos
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Presentation OverviewPresentation Overview

History/Introduction

Goals, mission/statement

Audience

Brand/Product strategy

Costs

Approval/Customer Reactions

Presentation

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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

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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.

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Target MarketTarget Market

Young professional males

Ranging in age from 18-35

Fashion-minded individuals

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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

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SuppliersSuppliers

Hand-made Italian fabrics

Fabrics and cloth supplied from Italy and France

Buttons, pins and accessories will be shipped from Asian countries

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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

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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

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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

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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)

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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

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CompetitionCompetition

Gucci

Prada

Calvin Klein Collection

Polo Ralph Lauren

Giorgio Armani

Helmut Lang

Marc Jacobs

Paul Smith

Richard Chai

Burberry Possum

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LLayout ayout DDesignesign

Desired Colors in Suiting

Fabrics will consist of :

SilkTweedWool CottonPolyester

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Estimated CostsBus Driver Jacket $1195

Button up $165-$198

Tee$88-$300

Dress Pant starting from$165

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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.

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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.

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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.

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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

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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

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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.

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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 %.

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