Rafiq Jewelry


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Buying project proposal for Neiman Marcus fashion jewelry department

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Rafiq Jewelry

  1. 1. Fashion Jewelry for Neiman Marcus Alia Rafiq
  2. 2. Trade Show Schedule <ul><li>SIHH </li></ul><ul><ul><li>Geneva, Palexpo Hall 6 – Access via Hall 5.
500 metres from Geneva airport. </li></ul></ul><ul><ul><li>January 18 – 22, 2010 </li></ul></ul><ul><ul><li>http://www.sihh.org/sihh2010 </li></ul></ul><ul><li>New Munich Trade Fair Centre </li></ul><ul><ul><li>MessegeländeD-81823 München, Germany </li></ul></ul><ul><ul><li>February 19 - 22, 2010  </li></ul></ul><ul><ul><li>http://www.messe-muenchen.de </li></ul></ul>
  3. 3. Spring 2010 Trend Report
  4. 4. highly dramatic Statement jewelry swirled and sparkled materials ranging from feminine fabric petals and diamonds to harder looks with arrowheads and metals 

  5. 5. 2010 Color Story Pantone.com
  6. 7. Nature is Blooming
  7. 8. Botanical
  8. 9. Silver & Gold
  9. 10. Oxidized Silver & geometric shape
  10. 11. Cuffed
  11. 12. exotic Ethnic &
  12. 13. Chunky Beads & Stone
  13. 14. Bigger is Better
  14. 15. Competitors
  15. 16. <ul><li>High end Merchandise </li></ul><ul><li>Limited selection </li></ul><ul><li>Fine Store Environment </li></ul><ul><li>Effective Window Display </li></ul><ul><li>Few sales people </li></ul><ul><li>Easy to navigate </li></ul><ul><li>Jewelry department carries names from David Yurman to Juicy Couture </li></ul><ul><li>Price range from $8,000-$38 </li></ul>
  16. 17. Saks Fifth Avenue <ul><li>Customer Profile: </li></ul><ul><li>Upper Class Customer </li></ul><ul><li>Age 30-55 </li></ul><ul><li>80% women </li></ul><ul><li>Browsers </li></ul><ul><li>Visual Presentation: </li></ul><ul><li>Organized layout </li></ul><ul><li>Engaging first floor display </li></ul><ul><li>Tasteful store design </li></ul><ul><li>Easy to access desired garments </li></ul>
  17. 18. Saks Fifth Avenue <ul><li>Merchandise assortment : David Yurman, Gucci, Elizabeth & James, Dior… </li></ul><ul><li>Necklaces: </li></ul><ul><li>High price point: $6,650.00 Marco Bicego Diamond & Gold disk </li></ul><ul><li>Low price point: $38 Juicy Couture Charm necklaces </li></ul><ul><li>Watches: </li></ul><ul><li>High price point: $8,375 Cartier Large Ballon Bleu Watch </li></ul><ul><li>Low price point: $400 Philip Stein Stainless Steel Silicone Strap </li></ul><ul><li>Earrings </li></ul><ul><li>High price point: $5,480 Roberto Coin diamond hoops </li></ul><ul><li>Low price point :$38 Marc by Marc Jacobs script earrings </li></ul><ul><li>Bracelets </li></ul><ul><li>High price point: $5,150 Gucci black onyx and diamond bracelet </li></ul><ul><li>Low price point $38 Juicy Couture charm bracelet </li></ul><ul><li>Rings </li></ul><ul><li>High price point: $3,950.00 David Yurman Citrine Diamond ring </li></ul><ul><li>Low price point: $45 Kenneth Jay Lane Rope ring </li></ul>
  18. 19. Neimans Vs. Saks David Yurman Blue Topaz, Diamond & Sterling Silver Necklace Saks: $975 Neimans: $975 Gucci Silver and Bamboo Horsebit Bracelet Saks: $1,650 Neimans: $1,650
  19. 20. Barneys <ul><li>High end </li></ul><ul><li>Posh & almost unfriendly staff </li></ul><ul><li>Highly imaginative displays </li></ul><ul><li>Very open retail floors </li></ul><ul><li>Older clientele </li></ul><ul><li>Prices from $200-$13,000 </li></ul><ul><li>Names from Cathy Waterman </li></ul><ul><li>To Mallary Marks </li></ul>
  20. 21. Barney’s <ul><li>Customer Profile: </li></ul><ul><li>Disposable Income </li></ul><ul><li>Ages 30-60 </li></ul><ul><li>Desires to be unique/fashionable </li></ul><ul><li>Visual Presentation: </li></ul><ul><li>Highly imaginitive displays </li></ul><ul><li>Often impractical yet visually pleasing </li></ul><ul><li>Even mannequins seem to be a work of art </li></ul><ul><li>Minimal merchandise to highlight display </li></ul>
  21. 22. Barney’s <ul><li>Merchandise assortment: Maronni, Simone Coste, Fallon… </li></ul><ul><li>Necklaces: </li></ul><ul><li>High price point: $12,620 Mallary MarksTassel Necklace </li></ul><ul><li>Low price point: $285 Etten Eller chain necklace </li></ul><ul><li>Watches: </li></ul><ul><li>High price point: $5,000 Bell & RossBR-02 Watch </li></ul><ul><li>Low price point: $365 LIP White Fridge </li></ul><ul><li>Earrings </li></ul><ul><li>High price point: $17,800 Ileana MakriBlack Diamond Lace Earrings </li></ul><ul><li>Low price point : $190 Jeanine PayerMeriwether Earrings </li></ul><ul><li>Bracelets </li></ul><ul><li>High price point: $19,950 Rettore Zebu Horn Cuff </li></ul><ul><li>Low price point $375 Jennifer Meyer Diamond Bangle </li></ul><ul><li>Rings </li></ul><ul><li>High price point: $39,800 Renee Lewis Marquis Ring </li></ul><ul><li>Low price point: $550 Malcolm Betts Two-Tone Diamond Ring </li></ul>
  22. 23. Barney’s Vs. Neiman’s Barneys: $2,020 Me & Ro flat fine bangle Neiman’s: $500 Roberto Coin oval bangle
  23. 24. Bloomingdales <ul><li>Large store </li></ul><ul><li>Over crowded </li></ul><ul><li>Looming sales people </li></ul><ul><li>Bright, neat displays </li></ul><ul><li>Mid to high end merchandise </li></ul><ul><li>Carries names from Me&Ro to Aqua </li></ul><ul><li>Price range from $25-$430 </li></ul>
  24. 25. Bloomingdales <ul><li>Customer Profile: </li></ul><ul><li>Middle to High income </li></ul><ul><li>Age 20-50 </li></ul><ul><li>Store Loyalty </li></ul><ul><li>Mostly women </li></ul><ul><li>Visual Presentation: </li></ul><ul><li>Grand displays, becoming trendier </li></ul><ul><li>Large retail areas </li></ul><ul><li>Busy yet still clean & crisp displays </li></ul>
  25. 26. Bloomingdales <ul><li>Merchandise assortment : D&G, Adidas, Badgley Mischka, Burberry… </li></ul><ul><li>High price point: $612 Gemma Redux Pyrite and Chain Necklace </li></ul><ul><li>Low price point: $28 Aqua Short Multi Faux Pearl and Ribbon Necklace </li></ul><ul><li>Watches: </li></ul><ul><li>High price point: $425 Burberry Women's Rose Dial Bracelet Watch </li></ul><ul><li>Low price point: $55 Adidas &quot;Response Light&quot; Digital Watch </li></ul><ul><li>Earrings </li></ul><ul><li>High price point: $395 Me&Ro Full Lotus Drop Earrings </li></ul><ul><li>Low price point : $30 Aqua Hoop Earrings </li></ul><ul><li>Bracelets </li></ul><ul><li>High price point: $475 Robert Lee Morris for Elizabeth and James Feather Cuff </li></ul><ul><li>Low price point: $25 Aqua Chain and Faux Pearl Bracelets, Set of 7 </li></ul><ul><li>Rings </li></ul><ul><li>High price point: $225 Judith Jack &quot;Bohemian Rhapsody&quot; Stone Ring </li></ul><ul><li>Low price point: $45 House of Harlow Sunburst Leather Cocktail Ring </li></ul>
  26. 27. Neimans Vs. Bloomingdales <ul><li>Elizabeth and James Onyx Snake Cameo Stud Earrings </li></ul><ul><li>Bloomingdales: $225.00 </li></ul><ul><li>Neimans: $395 </li></ul>
  27. 28. Neiman Marcus Additions from Barney’s Zoe Agate bangle $7,700 Judy Hudson Morpho Butterfly Pendant $1,750
  28. 29. Neiman Marcus Additions from Sak’s Alexander McQueen Skull Cocktail Ring/Silvertone $310 Alexander McQueen Skull Ring $250
  29. 30. <ul><li>Merchandising Plan </li></ul>
  30. 32. <ul><li>U.S. jewelry retail industry has about 30,000 specialty stores </li></ul><ul><li>Combined annual revenue of about $25 billion dollars </li></ul><ul><li>Sales are determined on customer income. </li></ul><ul><li>In tern, profitability depends on advertisement, marketing, and merchandising </li></ul><ul><li>Jewelry’s gross margins are exceptionally high, often marked up as high as 50% </li></ul><ul><li>Mass merchants then cut price and take market share </li></ul><ul><li>http://www.hoovers.com/jewelry-retail/--ID__66--/free-ind-fr-profile-basic.xhtml </li></ul>Industry Report
  31. 33. Industry Report : Neiman Marcus <ul><li>*Designer & Precious Jewelry= 11% </li></ul>
  32. 34. <ul><li>October Jewelry Sales Estimates Conflict with Reported Results </li></ul><ul><ul><li>“ Conflicting sales reports make forecasting fourth quarter sales even more difficult for jewelry retailers.  But, volatile consumer spending patterns, large competitors promotional plans, and emerging macroeconomic forces may play a much bigger role in the final outcome than actual sales in August, September, or October” -Gerson Lehrman Group </li></ul></ul><ul><ul><li>“ Luxury retailers reported mixed results. Neiman Marcus reported a 6% decline” -GLG </li></ul></ul><ul><li>Retailers’ Sales for September Only Reach 2005 Level </li></ul><ul><ul><li>“ In an interview, Mr. McNamara explained that in a sector like jewelry, for instance, sales increased 1.2 percent in September from September 2008. But the dollar volume of sales “is still about 5 percent lower than we were in September 2007 and about 10 percent lower than the sector was in September 2006” –NY Times </li></ul></ul><ul><li>U.S. Retailers Report Weak Jewelry Sales for Sept </li></ul><ul><ul><li>“ Neiman Marcus' sales fell 14.8 percent to $354 million and comparable store sales were down by 16.9 percent. The company noted that its performance was weakest in the home and jewelry categories” –diamond.net </li></ul></ul>Industry Report: Neiman’s Jewelry Report’s
  33. 35. Neiman Marcus Advertising
  34. 46. Neiman’s Christmas Book
  35. 47. “ We want you to be completely happy with your order. If for any reason you are not satisfied, we will gladly accept your timely return of unworn, unwashed, or defective merchandise. Returned merchandise should include the vendor packaging and tags and be in the same condition as when it was delivered to you. Used merchandise cannot be returned unless defective. 
Return Within Amount of Credit Any merchandise purchased at a Neiman Marcus store should be returned to a Neiman Marcus store” “ All precious jewelry and Cartier watches must be returned within 60 days from the date of receipt and must include all original documentation”
  36. 48. Celebrity Endorsements Star-powered media attention A-List Credibility &
  37. 50. Customized Advertising Plan for Neiman Marcus
  38. 55. Interview with Kelly Smitten: Owner of Elite Yacht Charters (Beverly Hills, CA) & loyal Neiman Marcus Customer
  39. 56. AR : What draws you to Neiman Marcus and what advantages does the jewelry department have compared to other stores you have shopped at? KS : The customer service is incredible. I have developed a relationship with not only the associates but with the store itself. I go to Neiman’s and I know what to expect…quality. Again, the service. The layout is neat and precise, I am helped whenever I approach the counter and I can find something for everyone in the Jewelry department. A business gift, a birthday, and mothers day day can all be taken care of all in the same display case! You can never go wrong with Neiman’s. I anticipate The Book every year and I always get update emails from associates letting me know about new jewelry that I may be interested in which is extremely helpful considering I have to travel so much for my job and rarely find time to browse the store anymore.
  40. 57. Fine Jewelry For: Neiman Marcus Buyer: Alia Rafiq