Era
Louisa Constance Ella Bradshaw
BRA15445722
Fashion Marketing BA (Hons)
4th May 2018
Word Count: 10,139
Acknowledgements
I would like to thank my tutor Edwin and my course leader
Natascha for their immense help and guidance throughout this
project and my whole degree.
To my study buddy Amy and my friends who agreed to participate
in my focus group and helped me through my research; I truly
could not have done this without you.
I would also like to thank the vendors at Old Spitalfields Market
and Brick Lane Vintage Market, as well as the team at Chalk
Fashion House, who provided invaluable insight to my project.
Finally, I would like to thank my incredible family who have stuck
by my side the whole way through and have always remained
positive and supportive. I love you.
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Executive Summary
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Social media campaigns and the use of fashion influencers will
appeal to the millennial audience. The over-saturation of the current
market means that Era really has to stand out to its customers, and
this will be achieved by its unique branding and, most importantly,
its totally unique products.
Since giving back to the local community is one of Era’s core values,
the company will introduce a social outreach programme in the
business’s fourth year that will help catapult disadvantaged but
talented teenagers into successful fashion design careers by
providing them with a fashion education while paying them a fair
wage.
Era has set itself SMART objectives to help it achieve realistic targets.
These include setting not only sales targets, but making sure the
brand gets the exposure it deserves on social media. The brand will
aim to break even by the end of the second year, and the financial
projections outlined in this report show that this is achievable.
Era will open for business in July 2018 and will start selling its
products in mid-August 2018 on an e-commerce store and in a stall
in Old Spitalfields Market. The name Era came about due to the
vintage influence of the brand. Era is defined as a distinct period in
history: the 1960’s, 70’s and 80’s are extremely influential periods of
history, with strong aesthetics, colours and styles that are
distinguishable to the common consumer.
The company wants to be able to develop a unique and
recognisable brand identity that will resonate with its target market
of millennial women aged between 18 and 30 years old. A strong,
differentiated market position allows the brand to appeal to
customers of vintage, ethical and fast-fashion values alike, offering
versatile and distinctive garments that are fashion-forward.
Era is so much more than just an online store, providing its customer
with an education on sustainability through its company blog, as
well as having a market stall in the heart of the East End of London
that reflects the humble beginnings of the brand.
The extensive market and consumer research that has been
undertaken by the brand means the business can offer products that
its target market truly desires: affordable, high quality garments that
are made in Britain and follow ethical practices.
Contents Page
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Section 1
Business Concept
Vision and Mission Statement
Proposal
Rationale
Section 2
Problem Analysis
SWOT Analysis
PESTLE Analysis
Primary Customer Research
Secondary Customer Research
Customer Profile
Pen Portrait
Market Research
Competitor Analysis
Positioning Maps
Section 3
Product
Initial Product Range and Design
Core Product Model
Future Brand Expansion
Triple Bottom Line
SMART Objectives
Key Performance Indicators
Section 4
USP & UVP
Kapferer’s Brand Prism
Branding
Brand Aesthetic Moodboard
Section 5
Design
Manufacture
Website
Customer Journey
Market Stall
Staff & Transactions
Distribution
Promotion
Brand Ambassadors
Section 6
Pricing Strategy
Assumptions
Profit and Loss
Balance Sheet
Cashflow
Stock Control
Overview
Section 7
Risks
Conclusion
Conclusion
Figures
Bibliography
Appendix
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Section 1:
Business Concept
Business Concept
The concept of the business is an ethically conscious vintage-
inspired fashion retailer that brings pre-millennial fashion to
millennials. Hemlines, silhouettes and colour schemes are
reminiscent of the past but are modernised to the point that makes
the garments accessible to a wider target audience and clothes will
always have a trendy twist to appeal to our fashion-forward
customer. Garments will be constructed using sustainable or
reclaimed materials, including deadstock and recycled fabrics, to
help minimise the brand’s environmental footprint. Era will
distribute its products through two means: an efficient and
aesthetically pleasing online store, and a market stall in the
fashionable East End of London.
Since social conscience is at the heart of Era, the business will
launch an outreach program for disadvantaged teenagers who
cannot afford formal fashion and design education, but would like
to learn new skills in designing and constructing apparel while
earning a fair wage and gaining real life experience in the fashion
industry. The aim is to gain a profit by the third year following the
launch the business; profits will be reinvested in sustainable
material technology and to help enrol more teenagers into the
program.
6Fig 1
Vision Statement
7
Mission Statement
Era is a clothing retailer dedicated to the trends of yesteryear,
bringing premillennial fashion to millennials.
Reviving historical fashion trends while educating the millennial consumer
about sustainable and socially ethical fashion.
Fig 2
Proposal
Era truly is first of its kind: finally, an ethical, sustainable, vintage-
inspired clothing brand for millennials, by millennials – and we’re
affordable and exclusively made in Britain too! Our garments are
made to the highest quality possible, while still leaving our
customers with enough money to spend on going out –  and
looking fabulous while doing it.
After undertaking extensive research into both the vintage and
ethical clothing markets, Era saw a large gap in the market to start
a business, and our target customer knew what they wanted:
vintage fashion from the comfort of their own home, without the
hassle of trawling through hundreds of dodgy pieces to find one
hidden gem. At Era, we strive to design every product with
meticulous detail; updating hemlines and silhouettes from the
days of yore to create garments that not only look amazing, but
feel and fit great too.
Financial projections have predicted an influx of sales which will
be fuelled by our faithful team of brand ambassadors and
Instagram influencers, and Era will capture the world by storm
from its humble beginnings in the East End of London. Customers
can discover the brand on the company website (and can read up
on the importance of ethical fashion and why we adore vintage), or
pop along to our Old Spitalfields Market stall to meet the face
behind the company and hear first-hand the brand values that are
deeply rooted within the company.
8Fig 3
Rationale
9
My main inspiration for the womenswear fashion house was the
lack of authentic looking, on trend vintage pieces at accessible high
street prices. While the range will be made up of newly constructed
garments, there will always be a nod to the past with similar cuts,
shapes and colours from the 60s through to the 80s (which will
expand to the 20s to the 90s once the brand is more established),
offering formal and casual wear. One of my personal favourite
fashion trends through the ages has been the evolution of denim,
from the raw denim used as workwear in the 20s and 30s, to the
distinctive 70s bellbottom. My brand will have denim pieces that
represent each era which will be a permanent fixture in the range
from season to season. After interviewing and distributing a survey
to my target market of women aged 18-35, it is evident that there is
demand for such a brand. There will be be an inclusive range of
sizes so as many vintage lovers can access our brand as possible.
The social aspect of our brand is most important to me, helping
disadvantaged teenagers who cannot afford formal fashion and
design education to get a leg up in the industry, earn a fair wage
and set their lives up for success.
I chose the name Era because it is defined in the dictionary as a
“distinct period of history”. It was vital to me that the name of the
brand related to the product I was selling, as well as being short
and memorable. Era is not currently registered as a trademark in
the fashion, accessories or beauty industries.
Fig 4
Section 2:
What solution is the business providing?
Problem Analysis
Era sets out to address four key problems affecting today’s fashion industry:
Fashion consumption is currently incredibly damaging for the environment. The negative
environmental impact of fast fashion includes water pollution, the use of toxic chemicals
and increasing levels of textile waste. It is Era’s responsibility to limit its environmental
footprint as much as possible, invest in new technologies for a more sustainable future, and
educate customers on the extreme dangers of fast fashion.
In the supply chains of fast fashion companies, human rights violations occur all over the
world with unsafe working conditions, unfair wages and exposure to harmful chemicals. Era
promises to strive for good conditions for all its workers and will provide its customers with
a transparent supply chain so they can see for themselves the steps the company is taking
to keep its employees safe.
Vintage pieces are often one-of-a-kind, which can be frustrating for customers who want to
be able to copy a look from their favourite celebrity or influencer. Era’s garments are
produced to a small scale, so customers will be able to get their hands on distinctive pieces
they love, but stock will be limited.
Buying vintage has its problems, with bad sizing, poor quality materials and out-dated
silhouettes being the main reasons a customer would choose not to buy vintage. Era’s
newly-made garments will combat this by having a wide size offering, garments of the
highest quality and updating hemlines for a perfect modernised fit.
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SWOT Analysis
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strengths weaknesses opportunities threats
Era is a sustainable fashion brand which
will be popular with the eco-conscious
consumer
Vintage fashion is currently trending, with
celebrities and influencers championing
individual personal style
Millennials have the highest online
spending power over any other
generation
Era has a strong brand image
Worldwide shipping will bring
international interest and open up new
markets
Era has a small and limited product
offering which might not appeal to a wide
target audience
The higher price points of the sustainable
items could put off the student target
market
Era will only have one physical store for
the foreseeable future of the brand
Era can reach a wider network of
customers and increase brand loyalty
through various marketing activities
There is opportunity for vast expansion on
social media platforms
The brand would like to widen its offering
in terms of developing new ranges and
introducing more sizes
Era is interested in opening more stalls
across the UK or opening a retail outlet
Online fashion retail is currently a very
saturated market that will be difficult to
break into and create a presence
Millennial consumers tend to stay loyal to
their favourite brands, so might not be
interested in an upcoming brand
Cheaper high street or online stores could
win over my target market
More and more brands are becoming
more ethically conscious which means
Era’s sustainability might not be a
defining feature for my brand in the years
to come
Fig 5
PESTLE Analysis
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political economic social technological legal environmental
Britain leaving the EU
caused great political
upheaval and is causing
continuing uncertainty in
the business environment
and financial markets
Economic outlook is
uncertain after the Brexit
vote that caused the
devaluation of the Sterling
Despite a global recession,
the retail industry is
predicted to have grown to
$28 trillion by 2020
Increase in disposable
income has boosted
consumer confidence
6 out of 10 women are
classed as obese or
overweight, so there is a
high demand for plus-size
clothing
With increased awareness
of gender fluidity there is a
new demand for unisex
clothing
E-Commerce has had
exponential growth over
the past few years
Cloud computing and
distributed intelligence will
impact the retail industry
Import laws and taxing
items may change due to
Britain leaving the EU
The Data Protection laws
will limit new companies
ability to collect
information on potential
customers
Brands are investing in
reducing their carbon
footprint and in renewable
energy
Waste reduction and
packaging remain big
issues for retailers
There is a rise of ethically
and environmentally
conscious consumers
demanding Fair Trade
products and the use of
organic cotton and
recyclable materials
Fig 6
Primary Customer Research
Research was conducted into the needs of the target audience by
distributing an online survey to an audience of 18-35 year old
women and mainly received responses from women aged 19-26. Of
the 45 women who took the survey, 28% are frequent vintage
shoppers and 53.5% are occasional vintage shoppers, while 18.5%
never shop vintage. Therefore a good range of responses have
been collected from both women who are familiar with vintage
styles and women who are new to the world of vintage.
While over 80% of women had shopped vintage before, 90% still
prefer to purchase new clothes over second-hand clothing, which
suggests that there is a market for a newly-produced but vintage-
inspired fashion range.
The participants believed that sizing is the main problem with
purchasing vintage clothes (with 58% saying this would be the
reason they would not buy vintage), while 37% of women agreed
that the scratchy, poor quality or damaged materials was the next
important factor. Strange, out-dated prints was also annoying for
shoppers, as well as old-fashioned silhouettes and hemlines that
make young shoppers feel frumpy rather than confident.
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survey
Nearly a third of the women questioned take their main inspiration
from the 1960’s, 1970’s and 1980’s which are the three decades Era
takes its inspiration from. 32% of women are intrigued by 1990’s
fashion, but after asking an additional 5 participants why this was
the case, they answered that 90’s fashion and pop culture is very
easily accessible with mainstream retailers pushing the 90’s
aesthetic. 30% of participants said they were inspired by the
2000’s/present day, but I also received some feedback that this
question might have been confusing for women who are not
necessarily fashion orientated.
When asked what is most important when purchasing clothes, over
half of participants agree that style is the most important thing, as
opposed to 12% who believe that trend is the most important. This
suggests that millennials are less interested in necessarily being on
trend, but would prefer their clothes to be timeless.
60% of the millennial women asked said they would be happy to
pay a premium on a socially and environmentally ethical product
and 93% of women answered “yes” when asked “do you think
there is a demand for newly made, authentic-looking, vintage
inspired garments?”, which bodes well for the launch of the brand.
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Primary Customer Research
focus group
Further research was conducted into the needs of the target
audience by organising a focus group of four women aged between
20 and 23. A quick fifteen-minute discussion was required to gain
further intelligence from my target customer, to truly understand
what they need and want as consumers. The research concluded
that all of them tend to shop more online rather than in-store,
mainly because of convenience, but also because they have access
to smaller brands that might not have a store nearby or are online
exclusive stores. When asked if they browse through market stalls,
it started a discussion that the participants wouldn’t tend to look
at local markets, but would definitely check one out if they were in
a new city or country.
Upon being asked about their vintage clothing buying habits, three
out of four said they buy clothing quite often, while one said she
never shops vintage simply because there are no good stores near
where she lives. Other issues were raised on why they wouldn’t
shop vintage: it takes too much time to trawl through vintage
stores, and it is difficult to find a good fit. However, the three who
enjoy shopping vintage like it for the individual and unique pieces,
and one even said that she loves the oversized fit of her vintage
garments.
Next, participants were asked about their approach to
sustainability when asked if they carry out ethical practices in their
day-to-day life (including recycling cardboard and plastics). All of
them replied with a positive response, saying they all recycle where
possible. However, they also all said they shop at fast fashion
retailers. Once informed about the dangers of fast fashion and
asked if they were aware of the vast impact, half the participants
said they were not aware, but all responded that they are more
likely to become more ethically conscious when buying fashion
items in the future and would like to own more sustainable items.
Participants said they would expect to pay more for an item of
clothing made in Britain, because they agreed that they would
assume garments would be made to a higher quality and that there
would be no sweatshops involved. Brand heritage was also
mentioned as a reason why British brands would be more
expensive.
Finally, three out of four respondents couldn’t think of a specific
store that specialises in the same thing as Era, while one suggested
Collectif, and they all agreed that there is a market for a newly-
made, vintage-inspired clothing range that is sustainable and
adheres to ethical practices.
Secondary Customer Research
16
The academic literature surrounding vintage and sustainable
consumers is particularly rich, and there are evident links between
these groups as Cassidy and Bennett’s 2012 study shows. (30.8
percent of vintage consumers cited sustainability as the main reason
why they would buy vintage). Era aims to address the ethical
conscience of its vintage consumers.
The main reasons why people buy vintage were found to be style,
quality, nostalgia and ethics, all of which Era encapsulates. In the
same survey, 46.9% of participants said that they purchase new
vintage-inspired pieces from high street stores to complement their
true vintage pieces. This is interesting because it shows that a
significant amount of avid vintage customers have no qualms about
the authenticity of the garments they are purchasing.
There has been a surge in interest in vintage fashion over the past
few years, likely because of the proliferation of the internet, and how
historical images are much more accessible as a source of
inspiration. Period television shows such as the US drama Mad Men
set in 1960’s America, as well as celebrities championing one-off
vintage pieces and individual personal style can also be credited
with the popularity of vintage fashion. Postrel (2003) claims that
aesthetics in the 21st Century is the “coexistence of many different
styles” that are chosen individually by each customer, while
Palmer (2005: 205) suggests that the ever growing popularity of
vintage fashion and nostalgia can be seen as a “form of stability
against the rapidly changing environment”.
While the millennial consumer is more than willing to accept that
the fashion industry in its current state will destroy the environment,
Joy et al. (2015) found that there is very little that young customers
are prepared to sacrifice when it comes to spending their hard
earned money on clothes. The same study suggests that consumers
are demanding that ethical fashion has to match or outperform high
street brands in regards to style, quality, colour and compatibility
with one’s wardrobe, as well as being affordable. Accessibility is also
an issue, with the majority of ethical brands staying online instead of
branching out onto the high street.
Bonini and Oppenheim (2008: 56) state that there are five barriers to
being green: “lack of awareness, negative perceptions, distrust, high
prices and low availability”. It is important that Era gains the trust of
the customer by providing them with a transparent supply chain on
site, as well as educating the customer towards a greener future in
fashion and to change perceptions about the disposability of fast
fashion.
Customer Profile
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middle class
independent city girl
career-driven
enjoys shopping online and
on the high street
shops with friends recreationally
18-30
female
student or graduate job
demographic psychographic buying patterns
! " #
The target customer is a female millennial consumer who is trend-driven and has an interest in art, culture and history.
She is 18-30 years old, middle class, lives in an urban cosmopolitan area and has liberal political views, with a keen interest in environmental
conservation and social issues, often voicing these opinions on social media platforms such as Facebook or Twitter.
She appreciates a student discount and tends to spend her disposable income on drinking, brunch and new clothes, while looking to save on
groceries, transport and heating bills. While she is on a relatively tight budget, she would prefer to spend her money on a few stand-out pieces
which will last her for several years, rather than a lot of cheap, poor quality items. My target customer’s income is below average since she is in
the early stages of her career and will have to depend on an overdraft facility as it approaches the end of the month. She has savings, but wants
to save them for a deposit on a house once she is earning enough to get a mortgage.
She enjoys the convenience of shopping online, and prefers to stream music and videos rather than purchase outright and will spend much of
her free time online. Nevertheless, she also has a very active social life, frequenting fast food outlets, coffee shops and bars with her friends.
Pen Portrait
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Alicia Brookes is a 22-year-old student in her third year
at King’s College, London studying English Literature
with Film. Living on Brick Lane, she takes her
inspiration from the street art and vibrant culture, and
enjoys the local nightlife and independent cafes.
Intrigued by post-modern literature and Renaissance
Italian history, her glamorous style is limited by her
student budget so she opts to buy fewer pieces that are
slightly more expensive from her favourite stores Zara
and Cos, and hunts for stand-out, individual pieces on
Depop, Asos Marketplace and Beyond Retro.
She listens to music from the 70s, her favourite artists
being Fleetwood Mac and Prince, and goes to every
disco club night that she can fit into her busy schedule.
Alicia works part-time at Jo Malone London and her
perfect day off involves sitting in an independent
coffee shop reading her favourite book, Lolita.
She frequents the Brick Lane vintage markets as well
as charity shops and is currently trawling through
online stores desperately looking for the perfect outfit
to wear to the 70s themed 21st she’s been invited to in
the Summer.
Fig 7
Market Research
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collectif
An interview was conducted with the London regional manager of
Collectif, a vintage -inspired retailer. Collectif was established in
2000 as a stall in Camden Market. Over the past eighteen years,
they have grown to open three stores in London and one in
Brighton, as well as opening an online store. They design and
produce their own clothing, which is separated into two lines:
Collectif Vintage, inspired by the classic styles of 1940’s and 50’s
and Collectif Mainline, inspired by pin-up and alternative culture.
Collectif’s tagline is “vintage life for modern women”. There is a
surplus of vintage fashion for UK sizes 6-10, but it is difficult to find
larger vintage pieces, so Collectif caters to this market by offering
all of their clothing in UK sizes 6-22. The vintage styles have also
been altered to accommodate modern underwear since
true vintage requires traditional undergarments to create the
authentic desired silhouettes.
The target audience for the brand is 15-65, however, their main
market is 35+, so Era is not a direct competitor. Collectif’s most
lucrative department is their 1950’s flared dresses, and they have
made their most successful styles part of their core stock which
stays the same season to season.
To market the brand and bring in more customers, Collectif uses
social media platforms such as Instagram and Facebook (135,000
and 175,000 followers respectively), as well as sending out
newsletters and throwing parties and events for their loyal
customers. They also hand out flyers on the street, inside
Spitalfields Market and place them in bags upon purchases in
store. Collectif holds two big discount sales a year, as well as
having a small permanent discount section in each of their
stores and online.
Collectif is a success story for newly-made, vintage-inspired
clothes, but the brand currently captures an older audience than
Era is planning on targeting, meaning the market for millennials in
London is available to penetrate. Collectif ships worldwide, and
caters to both local and international markets, and is a perfect
example as a model of a business that Era could emulate,
particularly in its marketing strategies.
Fig 8
Market Research
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h&m group
H&M Group owns 7 different clothing brands: H&M, COS, Weekday,
Cheap Monday, Monki, & Other Stories and ARKET, all of which
would be direct competitors for Era. H&M Group positions itself as
sustainable and ethical, claiming to be among the leaders of
change towards a circular and renewable fashion industry. H&M
alone has over 800 million customer transactions per year, so the
influence H&M has over the industry is massive. Their plans to be
both socially and ethically have proved successful. Their cleaner
production programmes have reduced water consumption by 7.82
million m3, they have collected 17,771 tonnes of textiles through
their garment collecting initiative and 35% of all materials used are
recycled or sustainably-sourced. They also launched a transparent
supply chain on hm.com for their H&M Conscious Exclusive
Collection, which allowed customers to see where garments were
made, what materials were used and who made them which is a
model that Era would like to use.
H&M Group’s intention is to educate both the industry and
customers on how important it is to have an ethical supply chain,
and demonstrates how it is possible to create affordable clothing
without destroying the planet or putting people’s lives at risk.
Nobody’s Child is a UK based online retailer whose aim is “to
deliver the most on-trend and current pieces, at the lowest
possible prices, without sacrificing quality or compromising [their]
ethical standards”. The garments are inspired by current trends
and are very affordable, with their cheapest clothing item costing
£10 and their most expensive costing just £32. They can afford to
make items so cheap because they are a vertically integrated
manufacturer and own most of their supply chain; they knit, dye,
produce and distribute all of their products, which is something
Era would aspire to do in the future. This also means they can
ensure every step of their manufacturing process is ethical and
sustainable. Most of their factories are located within the UK,
which also reduces shipping costs and emissions.
Nobody’s Child is a perfect example of a small brand that can sell
affordable yet sustainable clothing. They also distribute their
products through ASOS and Topshop which has greatly increased
their following, earning them nearly 60,000 followers on Instagram;
an impressive feat for a brand which started up less than 3 years
ago. They offer their student customers a 30% discount and are
committed to educating their audience about sustainable and
ethical fashion.
nobody’s child
Market Research
21
denim city
Era visited Denim City in Amsterdam, which is a non-profit denim
lab that is funded by various different denim brands, and
interviewed one of the lecturers who works at the in-house
JeanSchool, an education facility dedicated to the design and
creation of denim. Their vision is to educate both businesses and
consumers about sustainability within the denim industry.
Denim production is one of the most harmful aspects of the fashion
industry, with the average pair of jeans requiring 7,000 litres of
water, an unthinkable amount of chemicals and undergoing over 20
processes of stone-washing, drying, enzymes and bleach.
However, there have been advances in the denim industry to ensure
a cleaner, more ethical product. For instance, laser technology can
be used to give jeans an aged affect; it is more productive and much
more sustainable than using traditional methods. WiserWash, used
by denim powerhouse PepeJeans, uses an ozone technique to
bleach denim which requires no chemicals and only a cup of water.
Visiting Denim City was an interesting way to see the future of denim
and since Era is going to include eco-friendly denim in its line, it has
given Era a few ideas on how to make the pieces as sustainable as
possible.
Fig 11
Fig 10
Fig 9
Competitor Analysis
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Era’s direct competitors include high street brands such as Topshop,
ASOS and Zara, mid-range brands such as Cos and & Other Stories,
UK vintage brands such as Collectif and sustainable brands such as
Reformation, Free People and Nobody’s Child. It is evident that the
market for online fashion retail is already heavily saturated, with
customers staying loyal to brands by visiting their favourite online
store first before beginning to venture onto other sites. It is
important that Era’s online store is both efficient and visually
appealing to capture the attention of millennial customers.
From my primary customer research, it is clear that millennials are
willing to spend more on an item that is both socially and
environmentally conscious, which justifies the higher price point due
to the ethical practices and more expensive materials.
Era will establish a loyal following by staying true to the ethics of the
brand and initiating a identifiable brand aesthetic. Garments will
always be constructed to the highest quality, using the highest
quality materials, while still being affordable to Era’s target audience
who would usually purchase from cheaper high street brands.
From the focus group primary research, it is evident that the target
audience is not aware of any brands that provide the same product
or service as Era, thus indicating that there is a gap in the market for
my brand.
From my focus group primary research, it is evident that my target
audience is not aware of any brands that provide the same product
or service as Era, thus indicating that there is a gap in the market
for my brand. 81.5% of the women asked in the survey were
vintage shoppers, while 90% still preferred to purchase new
clothes, which shows that there is a huge demand for newly made,
vintage-inspired garments. Participants in my focus group also
replied that they would like to own more sustainable items of
clothing, and currently do not shop vintage because it takes too
much time to find one item of clothing, and prefer the convenience
of online shopping.
My other competitors will be the other market stalls in the area of
Old Spitalfields Market and Brick Lane. After interviewing various
stalls, the owners ensured it is vital to create an online presence to
sell and market your products, with all three of the brands using
Instagram as their primary source of marketing. If Era can
accumulate a large social following, as well as having the most
enticing and exciting storefront, it is sure to grab attention away
from other stalls and onto Era’s.
Positioning Maps
Ethical vs Price
23
Ethical vs Style
Price vs Style Target age vs Style
While the current fashion market is extremely
saturated with competitors, Era has
positioned itself in a relatively strong spot to
differentiate itself from other brands. As a
strong contender in ethical practices and
style, as well as being affordable and targeting
a relatively young audience, Era will be able
to stand out amongst its more established
competitors.
Fig 12
Fig 14
Fig 15
Fig 13
Section 3:
What does the business do?
Product
The product Era will be selling is newly-produced, vintage-inspired
clothing. Influenced by both current trends and retro styles, Era
provides a modernised take on clothing throughout the ages, with
the same cuts, shapes and colours, but with updated hemlines and
silhouettes to make the modern woman feel sexy yet
sophisticated. Garments will be made with sustainable materials
for the eco-conscious consumer, and we will never use sweatshops
in our supply chain.
Pieces are inspired by the outfits worn by only the most
fashionable of it-girls and we will provide effortless and timeless
silhouettes for our fashion forward customers. Our styles are based
on the 1960’s, 1970’s and 1980’s, so whether you want to replicate
a hippy, disco or rocker chick vibe, we have the piece for you!
Think florals, suede and clashing the neutral earthy tones of the
70’s with the psychedelic prints of the 60’s. Our style is as
individual and quirky as our target customer, at an affordable price
for her student budget, and will be her first choice for stand-out
pieces that will make an impact on both the dance floor and the
environment.
Sizes will range from XS to L.
25 Fig 16
Initial Product Range and Design
26
Product Width and Depth Chart
Initial Product Range Launch
Era’s initial product range upon the company’s
launch will consist of 19 pieces that will come in
four sizes. Prices range from £18 to £65, making
the collection affordable for our target customer.
All products were designed by the CEO of the
company and follow a cohesive colour scheme so
that items from the collection can be easily worn
and layered together.
The collection includes 5 tops, 1 knit, 4 trousers, 1
skirt, 1 jumpsuit, 4 dresses and 3 jackets which are
inspired by archive pieces from the 1960’s, 70’s
and 80’s. While most of the pieces are standout,
unique pieces, there are also more simple items
that the brand thinks should be in every woman’s
wardrobe.
Bust Waist Hip
XS
78-80 cm
31”
58-62 cm
24”
84-88 cm
33”
S
81-88 cm
32-34”
63-70 cm
26”
89-96 cm
35-37”
M
89-98 cm
35-38”
71-80 cm
28-30”
97-106 cm
38-41”
L
99-104 cm
39-41”
81-86 cm
32-34”
107-112 cm
42-44”
Fig 17
Fig 18
Fig 19
Sizing Chart
Initial Product Range and Design
27
tops
High neck, silky, long cuff blouse
Black, Caramel
Polyester Satin
Fabric covered buttons on cuffs and
down the back
RRP: £34
Ringer t-shirt
Mustard/black
two-way stretch knit cotton/spandex
RRP: £18
Sheer knit crew neck long sleeve top
Black
Rayon/polyester/spandex blend
RRP: £28
Sheer balloon sleeve blouse
Lilac
Polyester (sheer)
3 hook and eyes
Small buttons for sleeves
RRP: £32
Flare sleeve cropped blouse
Ivory
Rayon/viscose
RRP: £30
Bowling shirt
Baby blue
Rayon/viscose
5 buttons
RRP: £26
Fig 20
Initial Product Range and Design
28
bottoms
Cigarette jeans
Blue denim
Stretch denim
Antique button detail
Concealed 15cm zip
RRP: £60
Mom jeans
Blue denim
15cm zip
15mm button
RRP: £60
Wide leg patterned
trousers
Mustard/brown floral
Viscose/polyamide
15cm concealed zip
Hook and eye
RRP: £55
Bell-bottom jeans
Blue denim
15cm zip
16mm button
RRP: £65
Suede skirt
Tan
Faux suede
15cm concealed zip
Hook and eye
RRP: £45
Fig 21
Initial Product Range and Design
29
dresses
Mini dress with sheer
cape
Baby blue
Crepe/rayon/chiffon
56cm concealed zip
RRP: £55
Velvet tie midi dress
Caramel
Stretch velvet
Side opening with tie
ends
RRP: £45
Sheer floral jumpsuit
Brown/floral
Crepe/rayon/chiffon
30cm concealed zip
RRP: £65
Graphic mini dress
Ivory/baby blue/lilac/
black
56cm concealed zip
Hook and eye
RRP: £40
Metallic blazer dress
Metallic silver
Brocade
8 buttons
RRP: £48
Fig 22
Initial Product Range and Design
30
outerwear
Denim shirt jacket
Blue denim
Denim
5 buttons
RRP: £60
Suede fringe jacket
Tan
Faux suede
Faux suede fringing
Zip
RRP: £65
Single breasted, oversized blazer
Brown check
Crepe
3x 20mm buttons
RRP: £58
Fig 23
Core Product Model
31
augmented
actual
core
• Free delivery
• Free 30-day returns
• Student discount
• E-mail newsletter
• Brand name
• High quality clothing
• Large size offering
• Sustainable and ethical
• Original and unique designs
• Warmth and comfort
Fig 24
Three levels of product (Kotler, 1999)
Future Brand Expansion
32
For the future expansion of Era, the first step I would take would be
to expand the size range. 6 out of 10 women in the UK are classed
as obese or overweight, so there is significant demand for plus-
sized ranges. By the end of year 3, I would like to expand the size
offering to 6-16. If sales met targets at the upper end, we would
look to expand our size offering further to 4-22, or adapt certain
styles if necessary to create a plus-sized range. Alongside the plus-
sized range, I would also introduce petite and tall ranges to capture
a wider audience and to become a truly inclusive brand.
Along with this, it is my vision to introduce more “eras” into the
brand, taking inspiration from more decades from the 1920’s right
through to the 1990’s to truly encapsulate the vintage essence of
the brand. Ideally, the brand would span all eight decades by the
6th year, introducing the 1990’s first (due to customer demand),
1950’s second, and 1920’s to 1940’s last as the “true vintage”
section of the e-commerce store.
Archival fashion is currently very popular with male millennials
(WGSN.com), so expanding into men’s fashion would be an obvious
choice. However, I would only undergo the brand stretch into the
male market once Era was an established brand, potentially after
ten years if there were to be demand for it at that time.
The final potential brand development would be into bridal wear.
Vintage styles are commonly used as inspiration in modern day
wedding dress designs, with 70’s and art deco style dresses
currently trending for 2018 weddings (Fashionista, 2018). There is
also sufficient demand for sustainable wedding dresses as
customers become more aware of the environmental impact of
single use items (huffingtonpost.co.uk, 2016). As with the men’s
fashion brand stretch, I would only attempt this once Era is an
established brand after eight years or so, and would hire specialist
bridal designers to follow the brand aesthetic, but work
independently on that specific department.
By the end of year 5, I would like to introduce the brand into a new
city, ideally Manchester. Since Manchester’s northern quarter is
historically a hub for vintage fashion, as well as the city being a
largely student dominated area, it would be the perfect place for
either a pop-up or a permanent shop or stall.
Triple Bottom Line
To start up the business I will need £100,000 which will be raised through crowdfunding and investments from
family and friends. If the business meets its financial targets, it is expected that dividends will be paid to investors.
According to the supporting financial documents, Era is expected to break even by the end of year 2, making a
profit of over £40,000. The company will be making a profit because it has a healthy 50% average margin on its
sales and costs of running the business will be kept under tight control. By the end of year 5, profits are forecast to
be in excess of £135,000.
33
financial
Fig 25
Triple Bottom Line
One of Era’s core brand values is to have as small an environmental
impact as possible. The brand promises to use dead stock
materials where possible to prevent reels of new fabric being
produced at the cost of water and harmful chemicals, further
damaging the environment. Using dead stock fabrics will also
reduce waste, contributing as much as possible to limit the 11
million tonnes of textiles sent to landfill each year
(huffingtonpost.com).
Era will greatly reduce its carbon footprint by using British
manufacturers in its supply chain, which means no flights abroad
to visit factories and significantly reduced emissions per garment
due to shorter shipping distances. Due to the high quality of the
garments produced (both in material and construction), the pieces
will last significantly longer than the industry standard of 10
washes.
Once the business is more established, the company will work on
and invest in new technology to make products even more
sustainable and help pave the way to make the fashion industry
more eco-conscious. Manufacturing one pair of jeans takes 7,000
litres, 400 mega joules of energy and expels 71 pounds of carbon
34
environmental
dioxide into the environment (huffingtonpost.com), so huge steps
need to be taken to reduce these emissions and educate the rest of
the industry that there are greener options in the current climate.
It is also important to Era that customers are educated on the
importance of a sustainable supply chain and the dangers of fast
fashion. There will be a section dedicated on Era’s website for the
education of the general consumer and help them re-think their
attitude on purchasing fast fashion.
Fig 26
Triple Bottom Line
35
For the social aspect of the business, Era promises fair wages and
an ethical work environment for every person in the supply chain
since ethical practices are at the core of the business. Garments
will be manufactured in Britain, so it will be easier to keep a close
eye on the factories to ensure they are kept to the agreed
standards.
Another way the company will adhere to social demands is to
provide inclusive sizing once Era is established as a business
(hopefully by year 3). It is important to the brand that customers of
all shapes and sizes will be able to wear garments they love that fit
their bodies perfectly.
The social enterprise, which will be introduced in year 4 of the
business, is a very important aspect for the brand. University
degrees in the UK currently cost over £9,000 a year for the tuition
alone, and while students are able to get loans to cover these
costs, more and more young people from disadvantaged
backgrounds find it impossible to fund further education, and
especially cannot justify art and design degrees
(huffingtonpost.com). Era’s outreach programme will give gifted
youths who cannot afford formal fashion design tuition the
social
opportunity to work at a real clothing brand, while still receiving an
education on how to design and construct garments to an industry
standard. Potential candidates will submit a portfolio of past work,
which can be anything from a scribble on the back of an envelope
to a whole sketchbook, and will be chosen based on raw talent and
potential alone. Once in the programme, candidates will be paid a
fair wage while they learn the fundamentals of fashion design and
work on live projects for the brand so that they can see their
designs realised from sketch to working product. The whole
process will last nine months, and successful graduates of the
programme will have gained invaluable experience and a reference
which will propel them onto future careers in the fashion industry.
At the start of the social enterprise, 2 candidates will be hired full-
time, along with a tutor who will come in every day from 2pm-5pm
to provide them with their design education. They will work 9-5
Monday through Friday, gaining business experience for 2 hours in
the morning by helping the office with general tasks and will be
given 2 hours of independent study time to work on any homework
set and to develop their designs.
SMART Objectives
36
Gain 30,000 Instagram followers by the
end of year 1. Era should be able to
accumulate enough hype through online
advertisements and influencers to
achieve this goal.
Achieve a conversion rate of 10% in the
first year. This conversion rate is for the
number of people visiting the site versus
the number of people completing an
order.
Achieve sales of £200,000 by the end of
year 1. According to Era’s Profit and Loss
statements, this should be achievable
through the distribution of products on
both the website and the market stall.
achieve sales of £200,000 gain 30k instagram followers achieve conversion rate of 10%
1 2 3
Break even by the end of year 2. Minimise
overhead costs as much as possible until
breakeven occurs.
Open up a second retail outlet by the
beginning of year 5. Either a retail outlet in
London or Manchester or a market stall in
a new city.
break even open a second retail outlet
4 5
Key Performance Indicators
37
The average number of items sold in one
transaction. The goal is for this number to
be as high as possible. This will help show
whether we need another method of
pushing more sales.
The conversion of customers putting
items in the online basket compared to
how many actually check out will be
recorded. This will show whether our
pricing for products is correct for the
target audience.
The average value of each transaction
made on site or in store. The goal is for
this number to be as high as possible.
While customers might be purchasing a
lot of items, we will need to try to push
higher priced items.
average transactional value items per transaction conversion
1 2 3
The number of followers the brand
accumulates on Instagram. This will
indicate how popular the brand is on the
platform and Instagram Insights can be
used to understand the audience that
likes the brand (age groups, location, etc.)
The profit made by the end of each year.
This will indicate the brand’s financial
performance and internal health, and
reassure investors that the company is on
track to pay back its debts.
instagram followers profit
4 5
Section 4:
What makes you unique?
USP & UVP
39
unique selling point
Era will be selling vintage-inspired, sustainable garments to a
millennial audience of 18-30 year-old women who are fashion
forward and influenced by it-girls throughout the ages. The
business will be known for its daring styles, high-quality clothes
and exceptional customer service; but our most important goal is
to educate customers on sustainable fashion and forgotten vintage
styles.
The business is responding to the lack of newly-made, high quality
vintage-inspired pieces which are also sustainable, ethical and
affordable in the current market.
What differentiates Era from other brands is our ‘Made in Britain’
label and our promise to make products to the highest quality. We
will never use sweatshops and always try to use the most
sustainable practices possible. Finally, our whole collection of
newly-made, vintage-inspired fashion will provide our customer
with unique, stand-out pieces.
Era’s tagline is ‘pre-millennial fashion, for millennials’, which
encapsulates the brand’s vision.
Era as a business provides much more than just clothing. Our
products have added value through our brand values that will
encourage our target customer to buy from the brand.
Era’s primary value is the creation of vintage-inspired pieces that
are stylish and of the highest quality. This is valuable to our fashion-
forward target customer who wants to stand-out, unique pieces that
will last throughout the seasons to add to their wardrobe.
The convenience of the online store is a valuable aspect of Era’s
service. Busy millennials tend to shop online for convenience and Era
provides an easily navigable online store with free delivery and
returns for a hassle-free customer experience.
Sustainability and ethical practices are at the core of the business.
There is currently a growing concern amongst millennials regarding
the environment and human rights and they are demanding that
brands adhere to ethical practices. Era responds to these demands
by using sustainable materials and never using sweat shops in its
supply chain.
The final brand value is the affordability of the brand. Millennials
are already faced with a tough financial environment and Era
believes in fair prices for customers without compromising on
quality.
unique value proposition
Kapferer’s Brand Prism
40
physique personality
relationship culture
reflection self image
• Fashionable
• Responsible
• Unique
• All-inclusive
• Educators
• Accessible
• Fashion forward
• Innovative
• Ethical
• Logo
• Brand name
• Market stall in Old
Spitalfields Market
• Exceptional customer
service
• Customer loyalty
• Creates a lasting impression
• Vintage consumers
• Ethical consumers
• Fashionable
picture of sender
picture of receiver
internalisation
externalisation
Fig X
Brand Prism, Kapferer 1986
Branding
The branding for Era is relatively simplistic, with black and
white being the main colours used throughout the brand. The
logo is simple but effective; it is more than the brand name
spelled out in block capitals, but is still legible. The round
circle logo fits perfectly on Instagram and the brand has
received feedback that the line extending outside the circle is
very aesthetically pleasing.
In terms of colour scheme, the brand has decided to use retro
inspired colours to represent each decade: neon orange for
the 1960’s, mustard yellow for the 70’s and navy for the 80’s.
This will help to bring a nostalgic feel to the brand and help
the customer connect with the brand’s message.
For look books and campaign images, vintage filters and
effects will be used to give photographs a softer, more on-
brand look that is very much trending at the moment. Models
and influencers will be of all shapes, sizes and races to
promote the brands inclusivity.
41
Fig 27
Fig 28
Brand Aesthetic Moodboard
42
Fig 29
Section 5:
Supply Chain
Design
Garments will be designed in-house, adapting vintage fashion to
align with current trends to produce a wearable, affordable
collection. Once the brand is established, new pieces will be
released on a season to season basis, following the standard
biannual A/W and S/S fashion seasons, as well as releasing a few
pieces early in pre-fall and cruise collections. Generally Era will
design its garments a season in advance to ensure they come to
market at the correct time for the customer, taking into
consideration the lead times for the business’ manufacturers.
Once the social enterprise aspect of the business begins (around
year 3), designs the students have created will be put forward
alongside the main range. They will be able to see the process
behind manufacturing a garment and see their own designs come
into fruition. This is important to the programme because it will
give the students a goal to achieve, as well as boost morale. The
best designer in each 9-month programme will be kept on in the
company to design garments, should they want to continue
working for Era.
44 Fig 30
Manufacture
Since Era is an ethical brand, it has been decided to collaborate
with British-based manufacturers to reduce emissions due to
shipping and to ensure that all workers in the factories earn a fair
wage and work in a decent environment. “Made in Britain” is a
coveted label and quality of clothing is often expected to be higher
than garments made in third or second-world countries. Era will
also actively support communities, offering opportunities for
employment and skills development in a sector of the UK economy
w h i c h h a s d e c l i n e d r a p i d l y i n r e c e n t y e a r s
(ethicalfashionforum.com). Since denim jeans are at the core of the
business, it is vital that the sizing is exactly right. The brand can
work closely with the pattern cutters and manufacturers to ensure
the perfect fit for our customers which is another benefit of the
garments being made in Britain.
For all of the garments, it has been decided to work with Chalk
Fashion House which is based in Truro, Cornwall. They offered not
only very competitive rates, but also promise to source sustainable
fabrics and trims, as well as working to a Cut, Make, Trim model so
the business doesn’t have to use multiple different manufacturers
which results in a simpler supply chain.
Since Chalk Fashion House will be creating patterns and samples
for each of the designs sent, it has been agreed that a flat rate of
£150 per design will be paid at the submission of designs for a
45
“tech pack” which includes the pattern and grading, and this fee
will not have to be re-paid when re-ordering stock. An additional
fee will be required for sourcing fabrics at £15 per hour, but this
will not be more than 3 hours work.
Non-disclosure agreements have been signed with the
manufacturer to protect Era’s designs from being replicated.
Fig 31
Fig 32
Website
46
Era’s e-commerce website has been designed using Shopify’s
website builder. The final result is an easy-to-navigate site that is
user friendly and built for a seamless customer experience on both
web browsers and handheld devices. The website includes a
catalogue of the current collection, a page dedicated to
markdowns, an “About Us” page which will inform the customer of
the brand’s core values, and a link to the company blog.
The customer journey is very straight forward:
• Open up your web browser and enter “eracollections.com”
• You have arrived on the landing page. Take a scroll down to find
our current favourite products, a brief outline of our company,
our core brand values, a map of where to find us and our most
recent Instagram posts
• Browse through our product catalog and click on your desired
product
• Scroll through pictures, read the product description, figure out
your size on the size chart and add the item to your cart
• Check out! Enter your address, a discount code if you’re lucky
enough to have one and your card details and we’ll ship it
straight to you!
Further website screenshots can be found in the appendix
Fig 33
Customer Journey
47
This page outlines the customer
journey through screen grabs.
The website is being viewed on
the Safari browser on an iPhone
Fig 34 Fig 35 Fig 36
Fig 37
Market Stall
As well as an online store, the business will also have a small
physical retail space located in Old Spitalfields Market in the East
End of London. A small market stall was decided on because it will
be cheap to rent, but will be situated in a recently renovated
permanent marketplace with solid wooden stalls just a stone’s
throw from the vintage clothing centre of London, Brick Lane. The
market stall also reflects a humble, home-grown message, as well
as having little to no environmental footprint and being part of the
wider community, perfectly aligning with the brand’s values.
Old Spitalfields Market “champions small producers, local
creatives and independents” (oldspitalfieldsmarket.com), so
would be the perfect fit for the brand to start out before moving to
a larger outlet. The market charges just £25 a day, and Era’s stall
would open from Thursdays through to Sundays since that is the
busiest time for the market.
The stall would only accept card payments through Shopify, to
streamline all business and sales into a user-friendly app, instead
of having to deal with extra accounting, cash floats and potential
loss or theft of cash.
48
Fig 38
Fig 39
Staff
At the initial launch of the business, one part-time employee will
be hired to help with packing up orders and assist with running the
stall. Since the office/warehouse will be located a 5 minute walk
from Old Spitalfields Market, it will be easy to request cover on the
stall for lunch breaks. The employee will work 24-hours a week,
four 6-hour shifts on Thursdays, Fridays, Saturdays and Sundays.
This job would be the perfect fit for a university student studying
fashion or business since it would entail packing up orders coming
in, assisting with customer service e-mails, updating and writing
posts for the blog and uploading posts on social media which will
be great to build a portfolio. The hourly wage will be £8.75 which is
the UK living wage and this wage will be raised to £10 after 3
months if the employee has proved themselves to be trustworthy
and devoted to the growth of the company.
By the end of the fifth year, the company will have 7 employees on
its payroll, including the tutor and the two participants of the
social enterprise.
49
Transactions
Era will be using Shopify as a platform for selling online as well as
managing inventory and incoming sales. Shopify will allow the
business to stay on top of orders, fulfilment and analytics by
providing all information on the Shopify Mobile app. It will allow
the business to accept any credit cards without third party
accounts, charging 2.2% + 20p per online transaction and 1.7% per
in person transaction. Using the app, the business’s inventory will
be synced across all sales channels at all times, and it will be easy
to get a detailed view of the business to better understand sales,
orders and audience to better tailor the products on offer and the
business’s marketing strategies.
The online store can be easily edited and updated through the
Shopify website or app, and for £59, Era will buy a card reader for
taking payments at the market stall that links up seamlessly with
the online account.
Era will open up an HSBC Current Account for Start-ups, since this
offers 18-months of free banking, and offers the most competitive
rates of just £5.50 per month after the 18-month period has
expired. The company will use internet banking for paying
suppliers and monitoring cash flow.
Fig 40
Distribution
Since customers will be ordering items online, Era will need to use
a courier to ensure a safe and efficient delivery. After researching
various different distribution companies, it has been decided that
myHermes is the best solution for the start-up business. It is by far
the most convenient service, with the office’s local parcel drop off
being less than 100m down the road, while also having very
competitive prices. Customer feedback regarding the safe delivery
of their purchases will be taken into consideration as the quality of
the brand’s customer service is of paramount importance.
Most parcels will be under 1kg in weight since none of my items are
particularly heavy, which will cost £2.79 per parcel sent. I am going
to offer free shipping to orders of over £50 since 58% of the more
than 5,800 shoppers surveyed (in the 2014 survey conducted by
UPS and digital analytics company comScore) had added an extra
item to their cart just to qualify for free shipping (parcelhub.co.uk).
I will also offer a flat-rate of £20 for international orders, but
customers will have to pay import tax if their country requires it.
Since 72% of online shoppers said they would be unlikely to buy
again from a retailer if they had a difficult returns experience
(royalmail.com), returns should be as easy and seamless as
possible for the customer. I will include Royal Mail returns labels
inside all of my parcels which will include Era’s address, a sender’s
reference and a unique barcode, and Era will only be charged once
a customer chooses to return an item and the barcode is scanned.
50
Elliot Packaging will be used to provide the mailing bags that I will
use to ship my products. Biodegradable polythene mailing bags
have been chosen since practicing sustainability in every aspect of
the business aligns with the brand’s core values. While recyclable
bags are cheaper, the chance that the end consumer will end up
recycling the mailing bag is slim. Elliot Packaging allows for
customisation of the bag, so Era’s logo and branding will be
prominent so a customer will know who the parcel is from when it
arrives. To keep the garments clean, they will be wrapped in
recyclable tissue paper before being placed in the mailing bag, as
Era would like to avoid using plastic at all costs.
Fig 41
Fig 42
Fig 43
Fig 44
Promotion
51
If Era is going to stand out from its competitors, it will need a
successful promotion strategy. The primary avenue for promoting
the brand will be through social media channels, mainly Instagram
and Facebook. Era will curate active and visually interesting online
accounts that will capture the target millennial audience. Social
media is centred on storytelling and invites followers to engage
with both the brand’s values and its products, as well as building a
gradual awareness of the company. Visuals will be at the core of
the online strategy, since visual posts produce 650% higher
engagement rates than text-only posts (blog.iconosquare.com).
Instagram influencers and fashion bloggers will also be used at the
heart of the campaigns to raise consciousness and appreciation of
the brand. Influencers will be gifted items from the collection to
style in their own unique way to appeal to their substantial
followings.
Other online marketing activities include an easy-to-navigate and
aesthetically pleasing website, coupled with an accompanying
blog to educate and inspire potential customers. The blog posts
will include vintage styling inspiration, retro make-up, advice on
accessories to pair with the collection, feature posts from fashion
bloggers and think pieces on sustainable and ethical fashion.
Online advertising will be the one element of the promotion
strategy where the company will have to spend money. Promoted
posts on Facebook for Era have the potential to reach over
1,400,000 people and are completely flexible, depending on the
budget for promotion at any given time.
For traditional forms of media, Era will make every effort to forge
close relationships with fashion magazines and stylists in order to
raise awareness of the brand to an alternate clientele. It would be
hugely beneficial for the company if its garments were to appear in
national magazines and newspaper supplements as the exposure
could kickstart nationwide sales almost instantly.
For customers who have purchased from the brand, or are
interested in receiving updates, an email newsletter will be
distributed each week outlining new blog posts, product launches
or sales promotions to build and maintain customer relationships.
Fig X
Fig 45
Promotion
52
paid/owned/earned marketing communications
paid
owned earned
Promoted social media posts
Magazine advertisements
Brand ambassadors
Online banner advertisements
Targeted advertisements
Website
Online blog
Facebook, Twitter, Instagram,
Pinterest
Snapchat and Instagram Stories
Old Spitalfields Market Stall
Blogs
YouTube reviews
Magazine coverage
Word-of-mouth
Affiliate links
Customer social media posts
Hashtags
instagram
visual content, pictures, user generated
content
facebook
collate content from other platforms,
tell the brand story
youtube styling tips, editorial videos
twitter
create a buzz for the brand, educate followers
on sustainable and ethical issues
pinterest editorial pictures, vintage inspiration
advertising online advertising
sales promotion student discount, flash sales
public relations brand ambassadors, fashion magazines
direct marketing email marketingFig 46 Fig 47
Promotion
53
Era sells high-quality, vintage–inspired garments
that are influenced by your favourite it-girls from the
1960’s, 70’s and 80’s
Promoted posts on Facebook and Instagram
Encourage customers to share on social media via
#eracollections to reach their friends and followers
Stall in the East End of London, the city’s vintage
hub, will introduce vintage admirers to the brand
vintage consumers
market message method
Era’s fashion-forward garments are all made to the
highest quality in sweatshop-free environments
using sustainable fabrics, striving for the smallest
environmental footprint possible
Promoted posts on Facebook and Instagram
Encourage customers to share on social media via
#eracollections to reach their friends and followers
Online blog outlining Era’s core values will allow
ethical consumers to connect with the brand
ethical consumers
fast-fashion consumers
Trend-led, vintage-inspired clothes from a small
brand will help you stand out from the crowd with
Era’s unique pieces
Flash sales and biannual markdowns will encourage
fast fashion customers to flock to the website
Instagram influencers promoting Era’s products to
their followings will allow their avid fans to interact
with the brand
Fig 48
Brand Ambassadors
54
After interviewing an influencer and fashion blogger with over
150,000 followers on Instagram about potentially promoting Era to
her following, she gave me a lot of interesting insights of what to
expect when it comes to collaborating with brand ambassadors.
Since Era is a start-up brand, it will be targeting influencers with
less than 200,000 followers to promote its products, since the
business will not have a big enough budget at the start to pay its
brand ambassadors. The influencer I interviewed said she would
be more than happy to post about small brands on her Instagram if
she liked the brand enough and aligned herself with its values. The
process Era will undertake to contact potential brand ambassadors
will involve e-mailing them and suggesting gifting them with a
product, providing them with a lookbook and giving them the
option of an item from the collection in whatever size they require
(dependent on stock). After receiving the garment, they will
hopefully post about it on their Instagram story, include it in an
outfit picture on their main Instagram feed and write a blog post
involving outfit pictures with the garment, providing Era with a
large amount of coverage.
The fashion blogger questioned generally gets between 6,000 and
11,000 people viewing her Instagram stories, and a tagged brand in
a story could expect approximately 80 link clicks. Upon starting the
brand, Era will contact 8 influencers with followings of around
150,000 and gifting them with a product. If all of them just post
about the brand on their Instagram story, Era should be viewed by
at least 50,000 people (taking into consideration people that follow
more than one of the influencers I am targeting), with at least 800
people engaging with the brand. Outfit posts on an influencer’s
main feed will bring higher engagement with the brand, but since
Era will not be paying for sponsored posts, there is no guarantee
that the products will make it that far, unless the influencer truly
loves the brand and the product they have received.
As well as fashion influencers, Era has chosen to use two upcoming
music artists to promote its products. Gifting will also be used here
in the hope that they will wear the garments sent to them on stage
at gigs or music festivals to create hype around the brand. The
artists chosen are young and create folk-inspired music which
reflects the care-free, retro vibe of the brand.
The influencers I have chosen to target are:
@hannahlouisef, @chloehelenmiles, @alicecatherine,
@dazhaneleah, @llymlrs, @livpurvis, @shewearsfashion,
@samanthamariaofficial, @ferrisandsylvestermusic,
@jadebirdmusic and have a total combined following of over a
million on Instagram alone.
Brand Ambassadors
55
Fig 51Fig 50Fig 49
Section 6:
Financial Costs
Pricing Strategy
Era’s clothing will be affordable to accommodate the target young target audience of the brand.
On top of this, the company will also offer a 10% student discount though UNiDAYS to capture the
student market. This is important to the brand since the student market is vital to the success of
the business, with over 208m students around the world becoming financially independent for the
first time, spending more than $417 billion in the US alone (unidays.com). UNiDAYS had partner
sales of more than $2.5 billion in 2017, as well as a social community of over one million, so
collaborating with them is a no brainer.
As for markdowns, once established, Era would hold two big sales a year near the end of each
season, as well as two flash sales per year of 15% off everything, but this would only be once the
brand has a big enough mailing list or social media following. These flash sales will be the
weekend of, or the weekend after pay-day, so more customers will have a disposable income to
spend on clothes.
57
Assumptions
58
Assumptions had to be made within the financial documents to help forecast for a five-year plan.
These assumptions include using the average mean selling price and average mean cost of the
garments to predict sales, profits and costs. Sales projections from the market stall and website
have been combined together to produce a realistic sales estimate. It has also been assumed that
40% of customers will return their items back to the company for a variety of reasons. This is to
accommodate the extra postage charges that customer returns will require. Also, whenever stock
is being replenished, 100 pieces of every item from the collection has been re-ordered in order to
secure the best terms. It has also been assumed that there will be 10% shrinkage.
Salaries and raises have also been taken into consideration, as well as pension funds and national
insurance. By the end of the fi"h year, the company will have 7 people on the payroll at any given
time (including the social enterprise candidates). Since the company will be holding a lot of stock
by year 4, it is assumed that the business will need to move into a new, larger premises due to the
expansion of the company. The final assumption is that all garments will all be equally popular
with the customers.
These assumptions should be taken into consideration when looking at the figures within the
financial documents.
59
Era	Limited 1
Profit	and	Loss	Statement	for	the	first	year	ending	30th	June	2019
Month	1 Month	2 Month	3 Q2 Q3 Q4 Year
Sales	(Gross) - 11,700 21,060 65,520 46,800 70,200 215,280
Student	Discounts	(10%	0n	30%	of	sales) - 351 632 1,966 1,404 2,105 6,458
Net	Sales - 11,349 20,428 63,554 45,396 68,095 208,822
Cost	of	Sales
Direct	Cost	of	Garments - 6,517 11,732 36,498 26,070 39,105 119,922
Postage	&	Packaging - 715 1,194 3,819 2,864 3,820 12,412
Cost	of	Market	Stalls - 300 600 1,800 1,000 1,300 5,000
- 7,532 13,526 42,117 29,934 44,225 137,334
Gross	Profit 0 3,817 6,902 21,437 15,462 23,870 71,488
Variable	Costs
Wages	&	Salaries 2,314 2,314 2,314 6,942 6,941 6,941 27,766
Rent	&	Service	Charges 2,000 2,000 2,000 6,000 6,000 6,000 24,000
Insurance 1,000 - - - - - 1,000
IT 350 150 150 450 450 450 2,000
Travel 200 100 100 100 300 200 1,000
Accountancy	&	Audit 500 - - - 500 - 1,000
Legal 1,000 - - - - - 1,000
Printing	&	Stationery 450 50 50 150 150 150 1,000
Advertising	&	Marketing - 685 300 900 900 900 3,685
Telecoms 125 125 125 375 375 375 1,500
Entertaining 300 100 - 300 100 200 1,000
Other - - - 1,000 1,000 1,000 3,000
Start	Up	Costs 14,033 - - - - - 14,033
Social	Outreach	Programme	Costs
22,272 5,524 5,039 16,217 16,716 16,216 81,984
Loss/Profit 22,272 1,707 1,863 5,220 1,254 7,654 10,496
60
Era	Limited 2
Profit	and	Loss	Statement	for	the	five	years	ending	30th	June	2023
Year	1 Year	2 Year	3 Year	4 Year	5
Sales	(Gross) 215,280 358,488 487,656 861,120 1,029,600
Student	Discounts	(10%	0n	30%	of	sales) 6,458 10,755 14,630 25,834 30,888
Net	Sales 208,822 347,733 473,026 835,286 998,712
Cost	of	Sales
Direct	Cost	of	Garments 119,922 199,696 271,649 479,688 573,540
Postage	&	Packaging 12,412 19,859 30,648 49,649 62,062
Cost	of	Market	Stalls 5,000 5,000 5,000 10,000 10,000
137,334 224,555 307,297 539,337 645,602
Gross	Profit 71,488 123,178 165,729 295,949 353,110
Variable	Costs
Wages	&	Salaries 27,766 35,051 61,920 91,126 101,638
Rent	&	Service	Charges 24,000 26,000 28,000 40,000 45,000
Insurance 1,000 1,200 1,300 1,500 1,500
IT 2,000 2,000 2,000 2,000 2,000
Travel 1,000 1,000 1,000 2,000 2,000
Accountancy	&	Audit 1,000 1,000 1,000 1,500 1,500
Legal 1,000 1,000 1,000 1,500 1,500
Printing	&	Stationery 1,000 1,000 1,000 1,500 1,500
Advertising	&	Marketing 3,685 5,370 5,870 7,555 8,055
Telecoms 1,500 1,500 1,800 2,500 2,500
Entertaining 1,000 1,000 1,500 2,000 2,500
Other 3,000 3,000 3,000 5,000 5,000
Start	Up	Costs 14,033 6,159
Social	Outreach	Programme	Costs 42,694 42,694
81,984 79,121 109,390 207,034 217,387
Loss/Profit 10,496 44,057 56,339 88,915 135,723
61
Era	Limited 3
Balance	Sheets	for	the	five	years	ending	30th	June	2023
Year	0 Year	1 Year	2 Year	3 Year	4 Year	5
Current	Assets
Stock 0 60,198 85,652 84,183 99,825 156,705
Bank	and	Cash 100,000 29,306 47,909 105,717 178,990 257,833
Net	Assets 100,000 89,504 133,561 189,900 278,815 414,538
Shareholder	Funds
Shareholders	Investment/Equity 100,000 100,000 100,000 100,000 100,000 100,000
Retained	Income
Brought	Forward 0 0 10,496 33,561 89,900 178,815
Profit/Loss	for	year 0 10,496 44,057 56,339 88,915 135,723
Carried	Forward 0 10,496 33,561 89,900 178,815 314,538
Shareholders	Funds 100,000 89,504 133,561 189,900 278,815 414,538
62
Era	Limited 4
Cash	Flow	Projections	for	the	first	year	ending	30th	June	2019
Month	1 Month	2 Month	3 Q2 Q3 Q4 Year	1
Sales	Receipts 0 11,349 20,428 63,554 45,396 68,095 208,822
Equity	Investment	Received 100,000 0 0 100,000
Cash	Inflow 100,000 11,349 20,428 63,554 45,396 68,095 308,822
Cost	of	Sales 45,030 0 0 45,030 45,030 45,030 180,120
Postage	&	Packaging 715 1,194 3,819 2,864 3,820 12,412
Cost	of	Market	Stalls 300 600 1,800 1,000 1,300 5,000
Wages	&	Salaries 2,314 2,314 2,314 6,942 6,941 6,941 27,766
Rent	&	Service	Charges 2,000 2,000 2,000 6,000 6,000 6,000 24,000
Insurance 1,000 1,000
IT 350 150 150 450 450 450 2,000
Travel 200 100 100 100 300 200 1,000
Accountancy	&	Audit 500 500 1,000
Legal 1,000 1,000
Printing	&	Stationery 450 50 50 150 150 150 1,000
Advertising	&	Marketing 685 300 900 900 900 3,685
Telecom 125 125 125 375 375 375 1,500
Entertaining 300 100 300 100 200 1,000
Other 1,000 1,000 1,000 3,000
Start	Up	Costs 14,033 14,033
Social	Outreach	Programme	Costs
Cash	Outflow/Inflow 32,698 4,810 13,595 3,312 20,214 1,729 29,306
Bank	brought	forward 0 32,698 37,508 51,103 47,791 27,577 0
Bank	carried	forward 32,698 37,508 51,103 47,791 27,577 29,306 29,306
63
Era	Limited 5
Cash	Flow	Projections	for	the	five	years	ending	30th	June	2023
Year	1	 Year	2 Year	3 Year	4	 Year	5 Total
Sales	Receipts 208,822 347,733 473,026 835,286 998,712 2,863,579
Equity	Investment	Received 100,000 0 0 0 0 100,000
Cash	Inflow 308,822 347,733 473,026 835,286 998,712 2,963,579
Cost	of	Sales 180,120 225,150 270,180 495,330 630,420 1,801,200
Postage	&	Packaging 12,412 19,859 30,648 49,649 62,062 174,630
Cost	of	Market	Stalls 5,000 5,000 5,000 10,000 10,000 35,000
Wages	&	Salaries 27,766 35,051 61,920 91,126 101,638 317,501
Rent	&	Service	Charges 24,000 26,000 28,000 40,000 45,000 163,000
Insurance 1,000 1,200 1,300 1,500 1,500 6,500
IT 2,000 2,000 2,000 2,000 2,000 10,000
Travel 1,000 1,000 1,000 2,000 2,000 7,000
Accountancy	&	Audit 1,000 1,000 1,000 1,500 1,500 6,000
Legal 1,000 1,000 1,000 1,500 1,500 6,000
Printing	&	Stationery 1,000 1,000 1,000 1,500 1,500 6,000
Advertising	&	Marketing 3,685 5,370 5,870 7,555 8,055 30,535
Telecom 1,500 1,500 1,800 2,500 2,500 9,800
Entertaining 1,000 1,000 1,500 2,000 2,500 8,000
Other 3,000 3,000 3,000 5,000 5,000 19,000
Start	Up	Costs 14,033 6,159 20,192
Social	Outreach	Programme	Costs 42,694 42,694 85,388
Cash	Inflow 29,306 18,603 57,808 73,273 78,843
Bank	brought	forward 0 29,306 47,909 105,717 178,990
Bank	carried	forward 29,306 47,909 105,717 178,990 257,833
64
Year	1 Year	2 Year	3 Year	4 Year	5
Items	in	Collection 19 19 19 19 19
Order	quantity	per	garment 100 100 100 100 100
Number	of	times	to	re-order 4 5 6 11 14
Stock	IN	(units) 7600 9500 11400 20900 26600
Stock	OUT	(units	through	sales) 4,600 7,660 10,420 18,400 22,000
Shrinkage 460 766 1,042 1,840 2,200
Balance	(units) 2,540 3,614 3,552 4,212 6,612
Cost	of	Stock 180,120£												 225,150£												 270,180£												 495,330£												 630,420£												
Value	of	Stock 60,198.00£									 85,651.80£									 84,182.40£									 99,824.40£									 156,704.40£						
Era	Limited
Stock	Control	for	the	five	years	ending	30th	June	2023
Overview
65
From the calculations shown in the supporting financial documents, it has been decided that Era
will have to raise £100,000 in order to set up the business. £70,000 of this will hopefully be raised
through crowdfunding methods, while the balance of the £100,000 will come from family and friends
in return for equity.
After raising the £100,000 to start the business, £45,000 of this will be spent on purchasing the initial
drop of stock and £14,033 will be spent on initial start up costs. Since products will take 6 weeks for
production, the company will only start to see sales halfway through month 2. After steady growth
throughout the year, £29,306 will be left in the bank, but the company will have made an overall loss
of £10,496. The company will break even by the end of year two and the stall opening in Manchester
in year 4 will give the brand a big sales boost. By the end of year 5, over £80,000 will have been
invested into the social outreach programme.
Era is a pure cash business, meaning that it will pay for stock the same day as purchase, get cash
receipts for what has been sold on the same day and will pay any expenses and taxes due on the
same day they are incurred. Even though sales are the most important factor of any business, from
an operational point of view, control of stock and cash in the bank are the 2 key things Era has to
consider.
The company is shown to build gradually in value over the course of the 5 years, and is planning to
be in a position to start paying dividends to its shareholders in year 6 or 7. Three significant events
occur within the five year plan that are key to the business’ growth, all of which happen in the 4th
year: moving to a larger premises, hiring more employees and starting the social enterprise
programme and opening the stall in Manchester.
The business model created gives the company great flexibility to reduce costs if it needs to, but also
allows for the business to significantly expand its operations if it performs better than expected.
Section 7:
Risks
Risks
67
Being a startup business, there are many risks that Era will have to
consider. The main issue the company would run into would be
being unable to sell enough stock. This could occur for a multitude
of reasons including using the wrong promotion strategy for the
target audience, pricing the products incorrectly and the over
ordering of stock –  especially since the manufacturers have
minimum orders of 100 units per style. Overtrading could also be a
potential problem, which could transpire from disruptions in the
supply chain and more product returns than expected. The latter
can be easily prevented, by making the returns policy very clear
before customers purchase an item online. Customers will return
items for a variety of reasons, but there are simple ways to combat
returns and make sure the customers are happy with the product
they receive. 20% of customers return products because they are
damaged, which can be solved by quality control both in the
factories and before distribution, as well as ensuring secure
packaging so the item doesn’t get damaged in transit. 23% receive
the wrong items, which is simply an issue of attention to detail
when completing an order and 22% of customers would send an
item back because the product received is different to what they
were expecting. This can be reduced by providing in-depth product
descriptions, multiple product photos and an accurate sizing chart.
(Statistics collected from invespcro.com)
To combat overtrading, Era will be leasing certain assets (such as
Shopify) rather than buying them outright which would amount to
huge start-up costs for the company. The business will also cut
costs as much as possible to increase cashflow and profits.
Extensive research will hopefully mitigate these risks as much as
possible, but the most important thing is to have sufficient cash
resources available to the company so that it can continue trading
and adapting its strategies for at least a year, even in adverse
conditions.
Another issue is intellectual property. The business will need to
protect itself against theft of designs and branding, as well as any
accusations of plagiarism from a third party. Era will need business
legal protection insurance which provides protection against the
potential costs brought by or against the business. Stock insurance
will also be required to ensure the business is protected financially
in the event of a fire, burglary or any other significant loss of stock.
Conclusion
Conclusion
69
Era has demonstrated that it is a viable business from not only the
financial figures, but the overwhelmingly positive response
received from participants interviewed in the focus group and
online survey. The key to Era’s potential success is that it has
important values that customers are able to resonate with. Its core
values are ambitious and the brand will strive to align itself with
the wants and needs of the target audience.
The business has been set up to advantage both the environment –
through using sustainable materials and minimising the carbon
footprint of the company – and the community – by launching a
social enterprise and supporting British manufacturers. On top of
this, Era will be in good financial health by the end of year 2 by
becoming cash positive and making a profit of over £40,000. Within
the five-year plan, Era will move to larger premises, have seven
employees on the payroll, start a social outreach programme to
help disadvantaged teenagers and open up a second retail space in
the home of vintage, Manchester.
Era wants to build a brand that will have longevity, and will
respond to the customer’s desires. The business will strive to bring
new creative and unique pieces season to season to capture new
audiences and build up a worldwide following.
Fig 52
Figures
Figures
71
• 1: chloehelenmiles.com
• 2: alicecatherine.com
• 3: alicecatherine.com
• 4: alicecatherine.com
• 5: author
• 6: author
• 7: author
• 8: collectif.com
• 9: author
• 10: author
• 11: author
• 12: author
• 13: author
• 14: author
• 15: author
• 16: hannahlouisef.com
• 17: author
• 18: author
• 19: author
• 20: author
• 21: author
• 22: author
• 23: author
• 24: author
• 25: hannahlouisef.com
• 26: @naninvintage, Instagram
• X: author
• 27: author
• 28: hannahlouisef.com
• 29: author
• 30: liliclaspe.com
• 31: chalkfashionhouse.co.uk
• 32: zara.com
• 33: author
• 34: author
• 35: author
• 36: author
• 37: author
• 38: oldspitalfieldsmarket.com
• 39: oldspitalfieldsmarket.com
• 40: money.co.uk
• 41: author
• 42: myhermes.co.uk
• 43: royalmail.com
• 44: elliottpackaging.co.uk
• 45: nadineijewere.co.uk
• 46: author
• 47: author
• 48: author
• 49: @livpurvis, Instagram
• 50: @shewearsfashion, Instagram
• 51: @jadebirdmusic, Instagram
• 52: hannahlouisef.com
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Appendix
Reflective Statement
77
My final year studying at London College of Fashion has definitely
been my favourite so far. I have found each module extremely
interesting, and have performed to my highest academic ability this
year. Fashion Futures and Innovations really captured my attention
because I am intrigued in the future of the fashion industry,
including the use of artificial intelligence and how brands are
already using such advanced technologies to better understand
their customers. I genuinely enjoyed the research for this project,
and I feel as though my research skills definitely developed in the
first term which has ultimately been extremely useful when
undertaking research for my Final Major Project. I have always
thrived when completing the more creative sides of my university
assignments, and I am very proud of the overall design of my report,
which I feel definitely contributed towards my highest mark to date.
I struggled to get into the Strategy module in the first term because
of my interest in the other module, my social life being more active
than ever, as well the daunting feeling of being less confident on my
abilities to perform well in an exam. However, I loved the second
term since I was able to choose my module: Integrated Strategic
Campaigns. Creative advertising has always been a dream career
path for me, and the workshop with Brian Galloway really cemented
my interest in the industry; I have been looking for internships and
graduate jobs in this sector ever since. I undertook the challenging
task of creating a Gucci-esque fashion film, while teaching myself
basic editing skills using Premier Pro. While I was extremely pleased
with the visual outcome of the film, I realised that creativity is not
everything on this course, and while I was praised for thinking
outside the box in the first term, the same recognition was not given
in the second.
Even though I had a distinct idea for my business plan since
September, I really struggled to get into the project since we had a
lot of other important work to get on with alongside it. I found it
frustrating as I was making extremely slow progress; my idea was
definitely more developed at the beginning of the year than any of
my peers, so I justified delaying vital primary and secondary
research in the early stages. I was overwhelmed with the workload
and simply didn’t know where to start, but once I got the ball rolling
and undertook some primary research I became increasingly
confident in my analytical abilities and started to pad out my report.
I have found it challenging to bring in all of the new aspects that the
course has never expected us to consider before, such as finance
and forecasting, and have found working with figures particularly
difficult since we have always worked to unlimited budgets. The
extended writing has also been a struggle for me since we are
expected to write in a critical, analytical and academic tone. I thrive
when writing short colloquial pieces (which is why I think I would be
a perfect fit in advertising as a copywriter), but academic language
does not come particularly naturally to me, so I have made every
effort to adapt my writing style specifically for this project.
Reflective Statement
78
I have had difficulty managing my time over the past year. I have
struggled with large, looming projects since I was a child, but the
lack of structure of university life has made my organisational
skills significantly worse. I tend to put projects off until I feel
enough pressure from either my peers or my tutors, and only
then will I dedicate all of my time and passion towards an
assignment. I still have a way to go when it comes to developing
my time management skills, even though I have never missed a
deadline and have always felt relatively confident in the work I
submit.
In regards to my professional development over the course of
university, I worked three different retail jobs in my first two years
– at Selfridges, Urban Outfitters and Jo Malone London; however,
I felt it was best to dedicate all of my time towards my studies in
my final year. Working in retail has been immensely valuable,
both in shaping my outlook on life and furthering my
understanding of the fashion industry. In this way, my
professional life has complemented my studies very well. In the
Christmas holidays of the final year, I found myself assisting a
stylist for a week. I was eager to pursue this opportunity, but I
realized during the experience that freelance styling work is not
an attractive next step in my career. While I am hardworking and
eager to get what I want in life, and fashion styling is amongst
one of my true passions, I am not prepared to work for up to 3
years working as an assistant while never getting the chance to
style an outfit myself. Hunting for jobs has been a difficult
process that I have chosen to put off until after my final hand-in
since I definitely do not need any extra stress at this time.
Since coming to university in London, I have gone through a lot of
personal growth, especially in final year where I have found
myself in my ideal living situation with multiple groups of friends
dotted around London. My social life has really thrived in London,
and I have found myself particularly content in my final year after
having difficulty getting accustomed to city life in first year and
having problems with friendship groups in second year. I am truly
happy I chose London College of Fashion as my choice for
university as, overall, I have thoroughly enjoyed my course and
have learnt invaluable life lessons over the past three years.
Survey Responses
79
An online survey was distributed to an audience of 18-35 year old women and received 43 responses.
Here is a visual overview of the responses:
Focus Group Responses
80
Do you tend to shop more in-store or online?
Online (all 4), Would prefer to shop in-store (1)
Why do you shop online?
Convenience, Access to smaller brands that might not have a store near me/are only
online
How often do you shop vintage?
Quite often (3), Never (1)
Why do you like to shop vintage?
Individual, unique pieces (2), like the oversized fit – it has become my signature style (1)
Why wouldn’t you shop vintage?
Takes up too much time to search (2), no good stores around me (1), find it hard to find
clothes that fit well (1)
Do you recycle? Cardboard/plastics/etc.?
Yes, whenever I can (all 4)
So you all care about the environment then. Do you buy from fast fashion retailers?
Yes (all 4)
Fast fashion is extremely damaging to the environment. Did you know that 11 million
tonnes of textiles are sent to landfill each year and the average item of clothing is only
expected to last 10 washes before falling apart? Also, toxins such as lead, arsenic and
mercury which are used in the textile industry are dumped into main water supplies,
causing adverse health problems amongst millions of people around the world. Were
you aware of these facts?
I know it is a dirty industry but try not to think about it when purchasing fast fashion (2),
I had no idea of the true impact of where my clothes came from (2)
After hearing about this, would you like to be more ethically conscious when it comes
to buying fashion?
Yes (all 4), it’s awful but unfortunately I would definitely still buy fast fashion (3)
Would you spend slightly more money on an item if you knew it was sustainable and
ethical, but is just as fashionable as the clothes you are buying already?
Yes, definitely (all 4)
Would you expect to pay more for clothes that are made in Britain?
Yes (all 4)
Why is this?

Higher quality materials and construction (3), no sweatshops (1), brands seem to have
heritage behind them (1)
Do you ever browse through market stalls?

Yes, I live right by Old Spitalfields Market and tend to browse every 2 weeks (1), no (1), if I
was visiting a new city or new country and it was a tourist destination then I would (2)
Can you think of a specific store that specialises in newly-made, vintage-inspired
clothing?

No (3), Yes! Collectif (1)
Do you think there is a market for my brand – an ethically conscious vintage-inspired
fashion retailer that brings pre-millennial fashion to millennials?
Yes (all 4)
A focus group was conducted with four women between the ages of 20 and 23.
Here is a brief overview of the responses:
Questionnaire Responses
81
1. How long have you been running your stall/shop?
Nearly 4 years
1 year but selling for 4 years
My boss has been doing markets for about 7 years now, but only been at Trumans Vintage
market for about 2 years
2. How many days a week is your stall/shop open?
4 days
4 days
The vintage market at Trumans Brewery is open from Thursday-sunday
3. How do the seasons affect sales?
Items sell by season – jumpers in Winter, skirts and dresses in Summer
Yes – in Winter sell bigger ticket items like coats, in Summer people are looking for one off
pieces for weddings/festivals
The market can be very unpredictable, there’s never a season that does better or worse!
Summer and Christmas however are the busiest every year!
4. Why did you choose to open a store on Brick Lane?
Nowhere really like Brick Lane Vintage Market, don’t have to set up, cheap, be creative
with the space
Cheaper than opening a store but more of a boutique environment than a market stall
-
5. Is this your only stall/shop? If not, where else are you located?
ASOS marketplace
Yes, this is the only stall
We have two stalls at Trumans vintage market, but also sell through Instagram
6. Do you have an online store?
No
No, but sell items through instagram as well as emailing regular customers with new finds
Nope, but sell through Instagram and regularly do insta sales, which last 24 hours.
7. Do higher or lower priced items sell better?
Mix
Mid range items – earlier items from the 1920s cost more vs 1990s
Mainly lower priced items sell better, but even then people always try to barter.
8. How many items do you sell per day? How many customers? (Weekday vs weekend)
150 a week
Weekends 10-20 items a day, Thurs/Fri 6-8 items a day
Weekday= Thursday and Friday we sell average of 10 items in total for both stalls: approx.
Max 20 customers per day, Weekend= can sell from 20-30 items each stall; can see min of
50 customers
9. What methods do you use to bring customers to the shop and market your
products?
Tourist destination, bright colours
Social media, build a rapport with customers, tell the history of the items
My boss tries to make sure that she is doing something different from everyone else.
Uniqueness is really important as it can be very competitive. She also tries to create a
buzz on her Instagram to market her products. Not only that but we change our
merchandising and displays every week.
10. What pieces tend to sell particularly well?
Tommy Hilfiger, brands, sportswear, colourful & patterned individual pieces
Dresses, particularly from the 1950s as customers love the silhouette
Our best sellers are branded items such as Levi jackets, Levis jeans, Harley Davidson t-
shirts and then more unique items we have such as Afghan dresses.
11. Does your boutique have a distinctive brand?
The painted floor, 80s
True vintage, customers have a love of nostalgic and individual pieces
We do a lot of American brands such as Levis and Harley Davidson. Our main focus is
American vintage.
12. Who is your target customer?
14-22
All ages as well as costume departments for plays/films
Our target customer is women from 18-30 years old who are looking for not just everyday
vintage pieces to wear but stand-out occasion wear as well
A questionnaire was distributed amongst vintage stalls in the Brick Lane Vintage Market and Old Spitalfields Market Stalls.
Here are the responses received:
Dreaming London
Something Old Something New
Magpie Vintage
Website Screenshots
82
Browser view
Website Screenshots
83
Mobile view
Facebook Page
84
Mobile view Browser view
Instagram Page
85
Mobile viewBrowser view
Correspondence with Chalk Manufacturers
86
Chalk Manufacturers Unit Price List
87
Correspondence with Elliott Packaging
88
Era
Era
Era
Era

Era

  • 1.
    Era Louisa Constance EllaBradshaw BRA15445722 Fashion Marketing BA (Hons) 4th May 2018 Word Count: 10,139
  • 2.
    Acknowledgements I would liketo thank my tutor Edwin and my course leader Natascha for their immense help and guidance throughout this project and my whole degree. To my study buddy Amy and my friends who agreed to participate in my focus group and helped me through my research; I truly could not have done this without you. I would also like to thank the vendors at Old Spitalfields Market and Brick Lane Vintage Market, as well as the team at Chalk Fashion House, who provided invaluable insight to my project. Finally, I would like to thank my incredible family who have stuck by my side the whole way through and have always remained positive and supportive. I love you. 2
  • 3.
    Executive Summary 3 Social mediacampaigns and the use of fashion influencers will appeal to the millennial audience. The over-saturation of the current market means that Era really has to stand out to its customers, and this will be achieved by its unique branding and, most importantly, its totally unique products. Since giving back to the local community is one of Era’s core values, the company will introduce a social outreach programme in the business’s fourth year that will help catapult disadvantaged but talented teenagers into successful fashion design careers by providing them with a fashion education while paying them a fair wage. Era has set itself SMART objectives to help it achieve realistic targets. These include setting not only sales targets, but making sure the brand gets the exposure it deserves on social media. The brand will aim to break even by the end of the second year, and the financial projections outlined in this report show that this is achievable. Era will open for business in July 2018 and will start selling its products in mid-August 2018 on an e-commerce store and in a stall in Old Spitalfields Market. The name Era came about due to the vintage influence of the brand. Era is defined as a distinct period in history: the 1960’s, 70’s and 80’s are extremely influential periods of history, with strong aesthetics, colours and styles that are distinguishable to the common consumer. The company wants to be able to develop a unique and recognisable brand identity that will resonate with its target market of millennial women aged between 18 and 30 years old. A strong, differentiated market position allows the brand to appeal to customers of vintage, ethical and fast-fashion values alike, offering versatile and distinctive garments that are fashion-forward. Era is so much more than just an online store, providing its customer with an education on sustainability through its company blog, as well as having a market stall in the heart of the East End of London that reflects the humble beginnings of the brand. The extensive market and consumer research that has been undertaken by the brand means the business can offer products that its target market truly desires: affordable, high quality garments that are made in Britain and follow ethical practices.
  • 4.
    Contents Page 4 Section 1 BusinessConcept Vision and Mission Statement Proposal Rationale Section 2 Problem Analysis SWOT Analysis PESTLE Analysis Primary Customer Research Secondary Customer Research Customer Profile Pen Portrait Market Research Competitor Analysis Positioning Maps Section 3 Product Initial Product Range and Design Core Product Model Future Brand Expansion Triple Bottom Line SMART Objectives Key Performance Indicators Section 4 USP & UVP Kapferer’s Brand Prism Branding Brand Aesthetic Moodboard Section 5 Design Manufacture Website Customer Journey Market Stall Staff & Transactions Distribution Promotion Brand Ambassadors Section 6 Pricing Strategy Assumptions Profit and Loss Balance Sheet Cashflow Stock Control Overview Section 7 Risks Conclusion Conclusion Figures Bibliography Appendix 5 6 7 8 9 10 11 12 13 14 16 17 18 19 22 23 24 25 26 31 32 33 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 54 56 57 58 59 61 62 64 65 66 67 68 69 70 72 76
  • 5.
  • 6.
    Business Concept The conceptof the business is an ethically conscious vintage- inspired fashion retailer that brings pre-millennial fashion to millennials. Hemlines, silhouettes and colour schemes are reminiscent of the past but are modernised to the point that makes the garments accessible to a wider target audience and clothes will always have a trendy twist to appeal to our fashion-forward customer. Garments will be constructed using sustainable or reclaimed materials, including deadstock and recycled fabrics, to help minimise the brand’s environmental footprint. Era will distribute its products through two means: an efficient and aesthetically pleasing online store, and a market stall in the fashionable East End of London. Since social conscience is at the heart of Era, the business will launch an outreach program for disadvantaged teenagers who cannot afford formal fashion and design education, but would like to learn new skills in designing and constructing apparel while earning a fair wage and gaining real life experience in the fashion industry. The aim is to gain a profit by the third year following the launch the business; profits will be reinvested in sustainable material technology and to help enrol more teenagers into the program. 6Fig 1
  • 7.
    Vision Statement 7 Mission Statement Erais a clothing retailer dedicated to the trends of yesteryear, bringing premillennial fashion to millennials. Reviving historical fashion trends while educating the millennial consumer about sustainable and socially ethical fashion. Fig 2
  • 8.
    Proposal Era truly isfirst of its kind: finally, an ethical, sustainable, vintage- inspired clothing brand for millennials, by millennials – and we’re affordable and exclusively made in Britain too! Our garments are made to the highest quality possible, while still leaving our customers with enough money to spend on going out –  and looking fabulous while doing it. After undertaking extensive research into both the vintage and ethical clothing markets, Era saw a large gap in the market to start a business, and our target customer knew what they wanted: vintage fashion from the comfort of their own home, without the hassle of trawling through hundreds of dodgy pieces to find one hidden gem. At Era, we strive to design every product with meticulous detail; updating hemlines and silhouettes from the days of yore to create garments that not only look amazing, but feel and fit great too. Financial projections have predicted an influx of sales which will be fuelled by our faithful team of brand ambassadors and Instagram influencers, and Era will capture the world by storm from its humble beginnings in the East End of London. Customers can discover the brand on the company website (and can read up on the importance of ethical fashion and why we adore vintage), or pop along to our Old Spitalfields Market stall to meet the face behind the company and hear first-hand the brand values that are deeply rooted within the company. 8Fig 3
  • 9.
    Rationale 9 My main inspirationfor the womenswear fashion house was the lack of authentic looking, on trend vintage pieces at accessible high street prices. While the range will be made up of newly constructed garments, there will always be a nod to the past with similar cuts, shapes and colours from the 60s through to the 80s (which will expand to the 20s to the 90s once the brand is more established), offering formal and casual wear. One of my personal favourite fashion trends through the ages has been the evolution of denim, from the raw denim used as workwear in the 20s and 30s, to the distinctive 70s bellbottom. My brand will have denim pieces that represent each era which will be a permanent fixture in the range from season to season. After interviewing and distributing a survey to my target market of women aged 18-35, it is evident that there is demand for such a brand. There will be be an inclusive range of sizes so as many vintage lovers can access our brand as possible. The social aspect of our brand is most important to me, helping disadvantaged teenagers who cannot afford formal fashion and design education to get a leg up in the industry, earn a fair wage and set their lives up for success. I chose the name Era because it is defined in the dictionary as a “distinct period of history”. It was vital to me that the name of the brand related to the product I was selling, as well as being short and memorable. Era is not currently registered as a trademark in the fashion, accessories or beauty industries. Fig 4
  • 10.
    Section 2: What solutionis the business providing?
  • 11.
    Problem Analysis Era setsout to address four key problems affecting today’s fashion industry: Fashion consumption is currently incredibly damaging for the environment. The negative environmental impact of fast fashion includes water pollution, the use of toxic chemicals and increasing levels of textile waste. It is Era’s responsibility to limit its environmental footprint as much as possible, invest in new technologies for a more sustainable future, and educate customers on the extreme dangers of fast fashion. In the supply chains of fast fashion companies, human rights violations occur all over the world with unsafe working conditions, unfair wages and exposure to harmful chemicals. Era promises to strive for good conditions for all its workers and will provide its customers with a transparent supply chain so they can see for themselves the steps the company is taking to keep its employees safe. Vintage pieces are often one-of-a-kind, which can be frustrating for customers who want to be able to copy a look from their favourite celebrity or influencer. Era’s garments are produced to a small scale, so customers will be able to get their hands on distinctive pieces they love, but stock will be limited. Buying vintage has its problems, with bad sizing, poor quality materials and out-dated silhouettes being the main reasons a customer would choose not to buy vintage. Era’s newly-made garments will combat this by having a wide size offering, garments of the highest quality and updating hemlines for a perfect modernised fit. 11
  • 12.
    SWOT Analysis 12 strengths weaknessesopportunities threats Era is a sustainable fashion brand which will be popular with the eco-conscious consumer Vintage fashion is currently trending, with celebrities and influencers championing individual personal style Millennials have the highest online spending power over any other generation Era has a strong brand image Worldwide shipping will bring international interest and open up new markets Era has a small and limited product offering which might not appeal to a wide target audience The higher price points of the sustainable items could put off the student target market Era will only have one physical store for the foreseeable future of the brand Era can reach a wider network of customers and increase brand loyalty through various marketing activities There is opportunity for vast expansion on social media platforms The brand would like to widen its offering in terms of developing new ranges and introducing more sizes Era is interested in opening more stalls across the UK or opening a retail outlet Online fashion retail is currently a very saturated market that will be difficult to break into and create a presence Millennial consumers tend to stay loyal to their favourite brands, so might not be interested in an upcoming brand Cheaper high street or online stores could win over my target market More and more brands are becoming more ethically conscious which means Era’s sustainability might not be a defining feature for my brand in the years to come Fig 5
  • 13.
    PESTLE Analysis 13 political economicsocial technological legal environmental Britain leaving the EU caused great political upheaval and is causing continuing uncertainty in the business environment and financial markets Economic outlook is uncertain after the Brexit vote that caused the devaluation of the Sterling Despite a global recession, the retail industry is predicted to have grown to $28 trillion by 2020 Increase in disposable income has boosted consumer confidence 6 out of 10 women are classed as obese or overweight, so there is a high demand for plus-size clothing With increased awareness of gender fluidity there is a new demand for unisex clothing E-Commerce has had exponential growth over the past few years Cloud computing and distributed intelligence will impact the retail industry Import laws and taxing items may change due to Britain leaving the EU The Data Protection laws will limit new companies ability to collect information on potential customers Brands are investing in reducing their carbon footprint and in renewable energy Waste reduction and packaging remain big issues for retailers There is a rise of ethically and environmentally conscious consumers demanding Fair Trade products and the use of organic cotton and recyclable materials Fig 6
  • 14.
    Primary Customer Research Researchwas conducted into the needs of the target audience by distributing an online survey to an audience of 18-35 year old women and mainly received responses from women aged 19-26. Of the 45 women who took the survey, 28% are frequent vintage shoppers and 53.5% are occasional vintage shoppers, while 18.5% never shop vintage. Therefore a good range of responses have been collected from both women who are familiar with vintage styles and women who are new to the world of vintage. While over 80% of women had shopped vintage before, 90% still prefer to purchase new clothes over second-hand clothing, which suggests that there is a market for a newly-produced but vintage- inspired fashion range. The participants believed that sizing is the main problem with purchasing vintage clothes (with 58% saying this would be the reason they would not buy vintage), while 37% of women agreed that the scratchy, poor quality or damaged materials was the next important factor. Strange, out-dated prints was also annoying for shoppers, as well as old-fashioned silhouettes and hemlines that make young shoppers feel frumpy rather than confident. 14 survey Nearly a third of the women questioned take their main inspiration from the 1960’s, 1970’s and 1980’s which are the three decades Era takes its inspiration from. 32% of women are intrigued by 1990’s fashion, but after asking an additional 5 participants why this was the case, they answered that 90’s fashion and pop culture is very easily accessible with mainstream retailers pushing the 90’s aesthetic. 30% of participants said they were inspired by the 2000’s/present day, but I also received some feedback that this question might have been confusing for women who are not necessarily fashion orientated. When asked what is most important when purchasing clothes, over half of participants agree that style is the most important thing, as opposed to 12% who believe that trend is the most important. This suggests that millennials are less interested in necessarily being on trend, but would prefer their clothes to be timeless. 60% of the millennial women asked said they would be happy to pay a premium on a socially and environmentally ethical product and 93% of women answered “yes” when asked “do you think there is a demand for newly made, authentic-looking, vintage inspired garments?”, which bodes well for the launch of the brand.
  • 15.
    15 Primary Customer Research focusgroup Further research was conducted into the needs of the target audience by organising a focus group of four women aged between 20 and 23. A quick fifteen-minute discussion was required to gain further intelligence from my target customer, to truly understand what they need and want as consumers. The research concluded that all of them tend to shop more online rather than in-store, mainly because of convenience, but also because they have access to smaller brands that might not have a store nearby or are online exclusive stores. When asked if they browse through market stalls, it started a discussion that the participants wouldn’t tend to look at local markets, but would definitely check one out if they were in a new city or country. Upon being asked about their vintage clothing buying habits, three out of four said they buy clothing quite often, while one said she never shops vintage simply because there are no good stores near where she lives. Other issues were raised on why they wouldn’t shop vintage: it takes too much time to trawl through vintage stores, and it is difficult to find a good fit. However, the three who enjoy shopping vintage like it for the individual and unique pieces, and one even said that she loves the oversized fit of her vintage garments. Next, participants were asked about their approach to sustainability when asked if they carry out ethical practices in their day-to-day life (including recycling cardboard and plastics). All of them replied with a positive response, saying they all recycle where possible. However, they also all said they shop at fast fashion retailers. Once informed about the dangers of fast fashion and asked if they were aware of the vast impact, half the participants said they were not aware, but all responded that they are more likely to become more ethically conscious when buying fashion items in the future and would like to own more sustainable items. Participants said they would expect to pay more for an item of clothing made in Britain, because they agreed that they would assume garments would be made to a higher quality and that there would be no sweatshops involved. Brand heritage was also mentioned as a reason why British brands would be more expensive. Finally, three out of four respondents couldn’t think of a specific store that specialises in the same thing as Era, while one suggested Collectif, and they all agreed that there is a market for a newly- made, vintage-inspired clothing range that is sustainable and adheres to ethical practices.
  • 16.
    Secondary Customer Research 16 Theacademic literature surrounding vintage and sustainable consumers is particularly rich, and there are evident links between these groups as Cassidy and Bennett’s 2012 study shows. (30.8 percent of vintage consumers cited sustainability as the main reason why they would buy vintage). Era aims to address the ethical conscience of its vintage consumers. The main reasons why people buy vintage were found to be style, quality, nostalgia and ethics, all of which Era encapsulates. In the same survey, 46.9% of participants said that they purchase new vintage-inspired pieces from high street stores to complement their true vintage pieces. This is interesting because it shows that a significant amount of avid vintage customers have no qualms about the authenticity of the garments they are purchasing. There has been a surge in interest in vintage fashion over the past few years, likely because of the proliferation of the internet, and how historical images are much more accessible as a source of inspiration. Period television shows such as the US drama Mad Men set in 1960’s America, as well as celebrities championing one-off vintage pieces and individual personal style can also be credited with the popularity of vintage fashion. Postrel (2003) claims that aesthetics in the 21st Century is the “coexistence of many different styles” that are chosen individually by each customer, while Palmer (2005: 205) suggests that the ever growing popularity of vintage fashion and nostalgia can be seen as a “form of stability against the rapidly changing environment”. While the millennial consumer is more than willing to accept that the fashion industry in its current state will destroy the environment, Joy et al. (2015) found that there is very little that young customers are prepared to sacrifice when it comes to spending their hard earned money on clothes. The same study suggests that consumers are demanding that ethical fashion has to match or outperform high street brands in regards to style, quality, colour and compatibility with one’s wardrobe, as well as being affordable. Accessibility is also an issue, with the majority of ethical brands staying online instead of branching out onto the high street. Bonini and Oppenheim (2008: 56) state that there are five barriers to being green: “lack of awareness, negative perceptions, distrust, high prices and low availability”. It is important that Era gains the trust of the customer by providing them with a transparent supply chain on site, as well as educating the customer towards a greener future in fashion and to change perceptions about the disposability of fast fashion.
  • 17.
    Customer Profile 17 middle class independentcity girl career-driven enjoys shopping online and on the high street shops with friends recreationally 18-30 female student or graduate job demographic psychographic buying patterns ! " # The target customer is a female millennial consumer who is trend-driven and has an interest in art, culture and history. She is 18-30 years old, middle class, lives in an urban cosmopolitan area and has liberal political views, with a keen interest in environmental conservation and social issues, often voicing these opinions on social media platforms such as Facebook or Twitter. She appreciates a student discount and tends to spend her disposable income on drinking, brunch and new clothes, while looking to save on groceries, transport and heating bills. While she is on a relatively tight budget, she would prefer to spend her money on a few stand-out pieces which will last her for several years, rather than a lot of cheap, poor quality items. My target customer’s income is below average since she is in the early stages of her career and will have to depend on an overdraft facility as it approaches the end of the month. She has savings, but wants to save them for a deposit on a house once she is earning enough to get a mortgage. She enjoys the convenience of shopping online, and prefers to stream music and videos rather than purchase outright and will spend much of her free time online. Nevertheless, she also has a very active social life, frequenting fast food outlets, coffee shops and bars with her friends.
  • 18.
    Pen Portrait 18 Alicia Brookesis a 22-year-old student in her third year at King’s College, London studying English Literature with Film. Living on Brick Lane, she takes her inspiration from the street art and vibrant culture, and enjoys the local nightlife and independent cafes. Intrigued by post-modern literature and Renaissance Italian history, her glamorous style is limited by her student budget so she opts to buy fewer pieces that are slightly more expensive from her favourite stores Zara and Cos, and hunts for stand-out, individual pieces on Depop, Asos Marketplace and Beyond Retro. She listens to music from the 70s, her favourite artists being Fleetwood Mac and Prince, and goes to every disco club night that she can fit into her busy schedule. Alicia works part-time at Jo Malone London and her perfect day off involves sitting in an independent coffee shop reading her favourite book, Lolita. She frequents the Brick Lane vintage markets as well as charity shops and is currently trawling through online stores desperately looking for the perfect outfit to wear to the 70s themed 21st she’s been invited to in the Summer. Fig 7
  • 19.
    Market Research 19 collectif An interviewwas conducted with the London regional manager of Collectif, a vintage -inspired retailer. Collectif was established in 2000 as a stall in Camden Market. Over the past eighteen years, they have grown to open three stores in London and one in Brighton, as well as opening an online store. They design and produce their own clothing, which is separated into two lines: Collectif Vintage, inspired by the classic styles of 1940’s and 50’s and Collectif Mainline, inspired by pin-up and alternative culture. Collectif’s tagline is “vintage life for modern women”. There is a surplus of vintage fashion for UK sizes 6-10, but it is difficult to find larger vintage pieces, so Collectif caters to this market by offering all of their clothing in UK sizes 6-22. The vintage styles have also been altered to accommodate modern underwear since true vintage requires traditional undergarments to create the authentic desired silhouettes. The target audience for the brand is 15-65, however, their main market is 35+, so Era is not a direct competitor. Collectif’s most lucrative department is their 1950’s flared dresses, and they have made their most successful styles part of their core stock which stays the same season to season. To market the brand and bring in more customers, Collectif uses social media platforms such as Instagram and Facebook (135,000 and 175,000 followers respectively), as well as sending out newsletters and throwing parties and events for their loyal customers. They also hand out flyers on the street, inside Spitalfields Market and place them in bags upon purchases in store. Collectif holds two big discount sales a year, as well as having a small permanent discount section in each of their stores and online. Collectif is a success story for newly-made, vintage-inspired clothes, but the brand currently captures an older audience than Era is planning on targeting, meaning the market for millennials in London is available to penetrate. Collectif ships worldwide, and caters to both local and international markets, and is a perfect example as a model of a business that Era could emulate, particularly in its marketing strategies. Fig 8
  • 20.
    Market Research 20 h&m group H&MGroup owns 7 different clothing brands: H&M, COS, Weekday, Cheap Monday, Monki, & Other Stories and ARKET, all of which would be direct competitors for Era. H&M Group positions itself as sustainable and ethical, claiming to be among the leaders of change towards a circular and renewable fashion industry. H&M alone has over 800 million customer transactions per year, so the influence H&M has over the industry is massive. Their plans to be both socially and ethically have proved successful. Their cleaner production programmes have reduced water consumption by 7.82 million m3, they have collected 17,771 tonnes of textiles through their garment collecting initiative and 35% of all materials used are recycled or sustainably-sourced. They also launched a transparent supply chain on hm.com for their H&M Conscious Exclusive Collection, which allowed customers to see where garments were made, what materials were used and who made them which is a model that Era would like to use. H&M Group’s intention is to educate both the industry and customers on how important it is to have an ethical supply chain, and demonstrates how it is possible to create affordable clothing without destroying the planet or putting people’s lives at risk. Nobody’s Child is a UK based online retailer whose aim is “to deliver the most on-trend and current pieces, at the lowest possible prices, without sacrificing quality or compromising [their] ethical standards”. The garments are inspired by current trends and are very affordable, with their cheapest clothing item costing £10 and their most expensive costing just £32. They can afford to make items so cheap because they are a vertically integrated manufacturer and own most of their supply chain; they knit, dye, produce and distribute all of their products, which is something Era would aspire to do in the future. This also means they can ensure every step of their manufacturing process is ethical and sustainable. Most of their factories are located within the UK, which also reduces shipping costs and emissions. Nobody’s Child is a perfect example of a small brand that can sell affordable yet sustainable clothing. They also distribute their products through ASOS and Topshop which has greatly increased their following, earning them nearly 60,000 followers on Instagram; an impressive feat for a brand which started up less than 3 years ago. They offer their student customers a 30% discount and are committed to educating their audience about sustainable and ethical fashion. nobody’s child
  • 21.
    Market Research 21 denim city Eravisited Denim City in Amsterdam, which is a non-profit denim lab that is funded by various different denim brands, and interviewed one of the lecturers who works at the in-house JeanSchool, an education facility dedicated to the design and creation of denim. Their vision is to educate both businesses and consumers about sustainability within the denim industry. Denim production is one of the most harmful aspects of the fashion industry, with the average pair of jeans requiring 7,000 litres of water, an unthinkable amount of chemicals and undergoing over 20 processes of stone-washing, drying, enzymes and bleach. However, there have been advances in the denim industry to ensure a cleaner, more ethical product. For instance, laser technology can be used to give jeans an aged affect; it is more productive and much more sustainable than using traditional methods. WiserWash, used by denim powerhouse PepeJeans, uses an ozone technique to bleach denim which requires no chemicals and only a cup of water. Visiting Denim City was an interesting way to see the future of denim and since Era is going to include eco-friendly denim in its line, it has given Era a few ideas on how to make the pieces as sustainable as possible. Fig 11 Fig 10 Fig 9
  • 22.
    Competitor Analysis 22 Era’s directcompetitors include high street brands such as Topshop, ASOS and Zara, mid-range brands such as Cos and & Other Stories, UK vintage brands such as Collectif and sustainable brands such as Reformation, Free People and Nobody’s Child. It is evident that the market for online fashion retail is already heavily saturated, with customers staying loyal to brands by visiting their favourite online store first before beginning to venture onto other sites. It is important that Era’s online store is both efficient and visually appealing to capture the attention of millennial customers. From my primary customer research, it is clear that millennials are willing to spend more on an item that is both socially and environmentally conscious, which justifies the higher price point due to the ethical practices and more expensive materials. Era will establish a loyal following by staying true to the ethics of the brand and initiating a identifiable brand aesthetic. Garments will always be constructed to the highest quality, using the highest quality materials, while still being affordable to Era’s target audience who would usually purchase from cheaper high street brands. From the focus group primary research, it is evident that the target audience is not aware of any brands that provide the same product or service as Era, thus indicating that there is a gap in the market for my brand. From my focus group primary research, it is evident that my target audience is not aware of any brands that provide the same product or service as Era, thus indicating that there is a gap in the market for my brand. 81.5% of the women asked in the survey were vintage shoppers, while 90% still preferred to purchase new clothes, which shows that there is a huge demand for newly made, vintage-inspired garments. Participants in my focus group also replied that they would like to own more sustainable items of clothing, and currently do not shop vintage because it takes too much time to find one item of clothing, and prefer the convenience of online shopping. My other competitors will be the other market stalls in the area of Old Spitalfields Market and Brick Lane. After interviewing various stalls, the owners ensured it is vital to create an online presence to sell and market your products, with all three of the brands using Instagram as their primary source of marketing. If Era can accumulate a large social following, as well as having the most enticing and exciting storefront, it is sure to grab attention away from other stalls and onto Era’s.
  • 23.
    Positioning Maps Ethical vsPrice 23 Ethical vs Style Price vs Style Target age vs Style While the current fashion market is extremely saturated with competitors, Era has positioned itself in a relatively strong spot to differentiate itself from other brands. As a strong contender in ethical practices and style, as well as being affordable and targeting a relatively young audience, Era will be able to stand out amongst its more established competitors. Fig 12 Fig 14 Fig 15 Fig 13
  • 24.
    Section 3: What doesthe business do?
  • 25.
    Product The product Erawill be selling is newly-produced, vintage-inspired clothing. Influenced by both current trends and retro styles, Era provides a modernised take on clothing throughout the ages, with the same cuts, shapes and colours, but with updated hemlines and silhouettes to make the modern woman feel sexy yet sophisticated. Garments will be made with sustainable materials for the eco-conscious consumer, and we will never use sweatshops in our supply chain. Pieces are inspired by the outfits worn by only the most fashionable of it-girls and we will provide effortless and timeless silhouettes for our fashion forward customers. Our styles are based on the 1960’s, 1970’s and 1980’s, so whether you want to replicate a hippy, disco or rocker chick vibe, we have the piece for you! Think florals, suede and clashing the neutral earthy tones of the 70’s with the psychedelic prints of the 60’s. Our style is as individual and quirky as our target customer, at an affordable price for her student budget, and will be her first choice for stand-out pieces that will make an impact on both the dance floor and the environment. Sizes will range from XS to L. 25 Fig 16
  • 26.
    Initial Product Rangeand Design 26 Product Width and Depth Chart Initial Product Range Launch Era’s initial product range upon the company’s launch will consist of 19 pieces that will come in four sizes. Prices range from £18 to £65, making the collection affordable for our target customer. All products were designed by the CEO of the company and follow a cohesive colour scheme so that items from the collection can be easily worn and layered together. The collection includes 5 tops, 1 knit, 4 trousers, 1 skirt, 1 jumpsuit, 4 dresses and 3 jackets which are inspired by archive pieces from the 1960’s, 70’s and 80’s. While most of the pieces are standout, unique pieces, there are also more simple items that the brand thinks should be in every woman’s wardrobe. Bust Waist Hip XS 78-80 cm 31” 58-62 cm 24” 84-88 cm 33” S 81-88 cm 32-34” 63-70 cm 26” 89-96 cm 35-37” M 89-98 cm 35-38” 71-80 cm 28-30” 97-106 cm 38-41” L 99-104 cm 39-41” 81-86 cm 32-34” 107-112 cm 42-44” Fig 17 Fig 18 Fig 19 Sizing Chart
  • 27.
    Initial Product Rangeand Design 27 tops High neck, silky, long cuff blouse Black, Caramel Polyester Satin Fabric covered buttons on cuffs and down the back RRP: £34 Ringer t-shirt Mustard/black two-way stretch knit cotton/spandex RRP: £18 Sheer knit crew neck long sleeve top Black Rayon/polyester/spandex blend RRP: £28 Sheer balloon sleeve blouse Lilac Polyester (sheer) 3 hook and eyes Small buttons for sleeves RRP: £32 Flare sleeve cropped blouse Ivory Rayon/viscose RRP: £30 Bowling shirt Baby blue Rayon/viscose 5 buttons RRP: £26 Fig 20
  • 28.
    Initial Product Rangeand Design 28 bottoms Cigarette jeans Blue denim Stretch denim Antique button detail Concealed 15cm zip RRP: £60 Mom jeans Blue denim 15cm zip 15mm button RRP: £60 Wide leg patterned trousers Mustard/brown floral Viscose/polyamide 15cm concealed zip Hook and eye RRP: £55 Bell-bottom jeans Blue denim 15cm zip 16mm button RRP: £65 Suede skirt Tan Faux suede 15cm concealed zip Hook and eye RRP: £45 Fig 21
  • 29.
    Initial Product Rangeand Design 29 dresses Mini dress with sheer cape Baby blue Crepe/rayon/chiffon 56cm concealed zip RRP: £55 Velvet tie midi dress Caramel Stretch velvet Side opening with tie ends RRP: £45 Sheer floral jumpsuit Brown/floral Crepe/rayon/chiffon 30cm concealed zip RRP: £65 Graphic mini dress Ivory/baby blue/lilac/ black 56cm concealed zip Hook and eye RRP: £40 Metallic blazer dress Metallic silver Brocade 8 buttons RRP: £48 Fig 22
  • 30.
    Initial Product Rangeand Design 30 outerwear Denim shirt jacket Blue denim Denim 5 buttons RRP: £60 Suede fringe jacket Tan Faux suede Faux suede fringing Zip RRP: £65 Single breasted, oversized blazer Brown check Crepe 3x 20mm buttons RRP: £58 Fig 23
  • 31.
    Core Product Model 31 augmented actual core •Free delivery • Free 30-day returns • Student discount • E-mail newsletter • Brand name • High quality clothing • Large size offering • Sustainable and ethical • Original and unique designs • Warmth and comfort Fig 24 Three levels of product (Kotler, 1999)
  • 32.
    Future Brand Expansion 32 Forthe future expansion of Era, the first step I would take would be to expand the size range. 6 out of 10 women in the UK are classed as obese or overweight, so there is significant demand for plus- sized ranges. By the end of year 3, I would like to expand the size offering to 6-16. If sales met targets at the upper end, we would look to expand our size offering further to 4-22, or adapt certain styles if necessary to create a plus-sized range. Alongside the plus- sized range, I would also introduce petite and tall ranges to capture a wider audience and to become a truly inclusive brand. Along with this, it is my vision to introduce more “eras” into the brand, taking inspiration from more decades from the 1920’s right through to the 1990’s to truly encapsulate the vintage essence of the brand. Ideally, the brand would span all eight decades by the 6th year, introducing the 1990’s first (due to customer demand), 1950’s second, and 1920’s to 1940’s last as the “true vintage” section of the e-commerce store. Archival fashion is currently very popular with male millennials (WGSN.com), so expanding into men’s fashion would be an obvious choice. However, I would only undergo the brand stretch into the male market once Era was an established brand, potentially after ten years if there were to be demand for it at that time. The final potential brand development would be into bridal wear. Vintage styles are commonly used as inspiration in modern day wedding dress designs, with 70’s and art deco style dresses currently trending for 2018 weddings (Fashionista, 2018). There is also sufficient demand for sustainable wedding dresses as customers become more aware of the environmental impact of single use items (huffingtonpost.co.uk, 2016). As with the men’s fashion brand stretch, I would only attempt this once Era is an established brand after eight years or so, and would hire specialist bridal designers to follow the brand aesthetic, but work independently on that specific department. By the end of year 5, I would like to introduce the brand into a new city, ideally Manchester. Since Manchester’s northern quarter is historically a hub for vintage fashion, as well as the city being a largely student dominated area, it would be the perfect place for either a pop-up or a permanent shop or stall.
  • 33.
    Triple Bottom Line Tostart up the business I will need £100,000 which will be raised through crowdfunding and investments from family and friends. If the business meets its financial targets, it is expected that dividends will be paid to investors. According to the supporting financial documents, Era is expected to break even by the end of year 2, making a profit of over £40,000. The company will be making a profit because it has a healthy 50% average margin on its sales and costs of running the business will be kept under tight control. By the end of year 5, profits are forecast to be in excess of £135,000. 33 financial Fig 25
  • 34.
    Triple Bottom Line Oneof Era’s core brand values is to have as small an environmental impact as possible. The brand promises to use dead stock materials where possible to prevent reels of new fabric being produced at the cost of water and harmful chemicals, further damaging the environment. Using dead stock fabrics will also reduce waste, contributing as much as possible to limit the 11 million tonnes of textiles sent to landfill each year (huffingtonpost.com). Era will greatly reduce its carbon footprint by using British manufacturers in its supply chain, which means no flights abroad to visit factories and significantly reduced emissions per garment due to shorter shipping distances. Due to the high quality of the garments produced (both in material and construction), the pieces will last significantly longer than the industry standard of 10 washes. Once the business is more established, the company will work on and invest in new technology to make products even more sustainable and help pave the way to make the fashion industry more eco-conscious. Manufacturing one pair of jeans takes 7,000 litres, 400 mega joules of energy and expels 71 pounds of carbon 34 environmental dioxide into the environment (huffingtonpost.com), so huge steps need to be taken to reduce these emissions and educate the rest of the industry that there are greener options in the current climate. It is also important to Era that customers are educated on the importance of a sustainable supply chain and the dangers of fast fashion. There will be a section dedicated on Era’s website for the education of the general consumer and help them re-think their attitude on purchasing fast fashion. Fig 26
  • 35.
    Triple Bottom Line 35 Forthe social aspect of the business, Era promises fair wages and an ethical work environment for every person in the supply chain since ethical practices are at the core of the business. Garments will be manufactured in Britain, so it will be easier to keep a close eye on the factories to ensure they are kept to the agreed standards. Another way the company will adhere to social demands is to provide inclusive sizing once Era is established as a business (hopefully by year 3). It is important to the brand that customers of all shapes and sizes will be able to wear garments they love that fit their bodies perfectly. The social enterprise, which will be introduced in year 4 of the business, is a very important aspect for the brand. University degrees in the UK currently cost over £9,000 a year for the tuition alone, and while students are able to get loans to cover these costs, more and more young people from disadvantaged backgrounds find it impossible to fund further education, and especially cannot justify art and design degrees (huffingtonpost.com). Era’s outreach programme will give gifted youths who cannot afford formal fashion design tuition the social opportunity to work at a real clothing brand, while still receiving an education on how to design and construct garments to an industry standard. Potential candidates will submit a portfolio of past work, which can be anything from a scribble on the back of an envelope to a whole sketchbook, and will be chosen based on raw talent and potential alone. Once in the programme, candidates will be paid a fair wage while they learn the fundamentals of fashion design and work on live projects for the brand so that they can see their designs realised from sketch to working product. The whole process will last nine months, and successful graduates of the programme will have gained invaluable experience and a reference which will propel them onto future careers in the fashion industry. At the start of the social enterprise, 2 candidates will be hired full- time, along with a tutor who will come in every day from 2pm-5pm to provide them with their design education. They will work 9-5 Monday through Friday, gaining business experience for 2 hours in the morning by helping the office with general tasks and will be given 2 hours of independent study time to work on any homework set and to develop their designs.
  • 36.
    SMART Objectives 36 Gain 30,000Instagram followers by the end of year 1. Era should be able to accumulate enough hype through online advertisements and influencers to achieve this goal. Achieve a conversion rate of 10% in the first year. This conversion rate is for the number of people visiting the site versus the number of people completing an order. Achieve sales of £200,000 by the end of year 1. According to Era’s Profit and Loss statements, this should be achievable through the distribution of products on both the website and the market stall. achieve sales of £200,000 gain 30k instagram followers achieve conversion rate of 10% 1 2 3 Break even by the end of year 2. Minimise overhead costs as much as possible until breakeven occurs. Open up a second retail outlet by the beginning of year 5. Either a retail outlet in London or Manchester or a market stall in a new city. break even open a second retail outlet 4 5
  • 37.
    Key Performance Indicators 37 Theaverage number of items sold in one transaction. The goal is for this number to be as high as possible. This will help show whether we need another method of pushing more sales. The conversion of customers putting items in the online basket compared to how many actually check out will be recorded. This will show whether our pricing for products is correct for the target audience. The average value of each transaction made on site or in store. The goal is for this number to be as high as possible. While customers might be purchasing a lot of items, we will need to try to push higher priced items. average transactional value items per transaction conversion 1 2 3 The number of followers the brand accumulates on Instagram. This will indicate how popular the brand is on the platform and Instagram Insights can be used to understand the audience that likes the brand (age groups, location, etc.) The profit made by the end of each year. This will indicate the brand’s financial performance and internal health, and reassure investors that the company is on track to pay back its debts. instagram followers profit 4 5
  • 38.
  • 39.
    USP & UVP 39 uniqueselling point Era will be selling vintage-inspired, sustainable garments to a millennial audience of 18-30 year-old women who are fashion forward and influenced by it-girls throughout the ages. The business will be known for its daring styles, high-quality clothes and exceptional customer service; but our most important goal is to educate customers on sustainable fashion and forgotten vintage styles. The business is responding to the lack of newly-made, high quality vintage-inspired pieces which are also sustainable, ethical and affordable in the current market. What differentiates Era from other brands is our ‘Made in Britain’ label and our promise to make products to the highest quality. We will never use sweatshops and always try to use the most sustainable practices possible. Finally, our whole collection of newly-made, vintage-inspired fashion will provide our customer with unique, stand-out pieces. Era’s tagline is ‘pre-millennial fashion, for millennials’, which encapsulates the brand’s vision. Era as a business provides much more than just clothing. Our products have added value through our brand values that will encourage our target customer to buy from the brand. Era’s primary value is the creation of vintage-inspired pieces that are stylish and of the highest quality. This is valuable to our fashion- forward target customer who wants to stand-out, unique pieces that will last throughout the seasons to add to their wardrobe. The convenience of the online store is a valuable aspect of Era’s service. Busy millennials tend to shop online for convenience and Era provides an easily navigable online store with free delivery and returns for a hassle-free customer experience. Sustainability and ethical practices are at the core of the business. There is currently a growing concern amongst millennials regarding the environment and human rights and they are demanding that brands adhere to ethical practices. Era responds to these demands by using sustainable materials and never using sweat shops in its supply chain. The final brand value is the affordability of the brand. Millennials are already faced with a tough financial environment and Era believes in fair prices for customers without compromising on quality. unique value proposition
  • 40.
    Kapferer’s Brand Prism 40 physiquepersonality relationship culture reflection self image • Fashionable • Responsible • Unique • All-inclusive • Educators • Accessible • Fashion forward • Innovative • Ethical • Logo • Brand name • Market stall in Old Spitalfields Market • Exceptional customer service • Customer loyalty • Creates a lasting impression • Vintage consumers • Ethical consumers • Fashionable picture of sender picture of receiver internalisation externalisation Fig X Brand Prism, Kapferer 1986
  • 41.
    Branding The branding forEra is relatively simplistic, with black and white being the main colours used throughout the brand. The logo is simple but effective; it is more than the brand name spelled out in block capitals, but is still legible. The round circle logo fits perfectly on Instagram and the brand has received feedback that the line extending outside the circle is very aesthetically pleasing. In terms of colour scheme, the brand has decided to use retro inspired colours to represent each decade: neon orange for the 1960’s, mustard yellow for the 70’s and navy for the 80’s. This will help to bring a nostalgic feel to the brand and help the customer connect with the brand’s message. For look books and campaign images, vintage filters and effects will be used to give photographs a softer, more on- brand look that is very much trending at the moment. Models and influencers will be of all shapes, sizes and races to promote the brands inclusivity. 41 Fig 27 Fig 28
  • 42.
  • 43.
  • 44.
    Design Garments will bedesigned in-house, adapting vintage fashion to align with current trends to produce a wearable, affordable collection. Once the brand is established, new pieces will be released on a season to season basis, following the standard biannual A/W and S/S fashion seasons, as well as releasing a few pieces early in pre-fall and cruise collections. Generally Era will design its garments a season in advance to ensure they come to market at the correct time for the customer, taking into consideration the lead times for the business’ manufacturers. Once the social enterprise aspect of the business begins (around year 3), designs the students have created will be put forward alongside the main range. They will be able to see the process behind manufacturing a garment and see their own designs come into fruition. This is important to the programme because it will give the students a goal to achieve, as well as boost morale. The best designer in each 9-month programme will be kept on in the company to design garments, should they want to continue working for Era. 44 Fig 30
  • 45.
    Manufacture Since Era isan ethical brand, it has been decided to collaborate with British-based manufacturers to reduce emissions due to shipping and to ensure that all workers in the factories earn a fair wage and work in a decent environment. “Made in Britain” is a coveted label and quality of clothing is often expected to be higher than garments made in third or second-world countries. Era will also actively support communities, offering opportunities for employment and skills development in a sector of the UK economy w h i c h h a s d e c l i n e d r a p i d l y i n r e c e n t y e a r s (ethicalfashionforum.com). Since denim jeans are at the core of the business, it is vital that the sizing is exactly right. The brand can work closely with the pattern cutters and manufacturers to ensure the perfect fit for our customers which is another benefit of the garments being made in Britain. For all of the garments, it has been decided to work with Chalk Fashion House which is based in Truro, Cornwall. They offered not only very competitive rates, but also promise to source sustainable fabrics and trims, as well as working to a Cut, Make, Trim model so the business doesn’t have to use multiple different manufacturers which results in a simpler supply chain. Since Chalk Fashion House will be creating patterns and samples for each of the designs sent, it has been agreed that a flat rate of £150 per design will be paid at the submission of designs for a 45 “tech pack” which includes the pattern and grading, and this fee will not have to be re-paid when re-ordering stock. An additional fee will be required for sourcing fabrics at £15 per hour, but this will not be more than 3 hours work. Non-disclosure agreements have been signed with the manufacturer to protect Era’s designs from being replicated. Fig 31 Fig 32
  • 46.
    Website 46 Era’s e-commerce websitehas been designed using Shopify’s website builder. The final result is an easy-to-navigate site that is user friendly and built for a seamless customer experience on both web browsers and handheld devices. The website includes a catalogue of the current collection, a page dedicated to markdowns, an “About Us” page which will inform the customer of the brand’s core values, and a link to the company blog. The customer journey is very straight forward: • Open up your web browser and enter “eracollections.com” • You have arrived on the landing page. Take a scroll down to find our current favourite products, a brief outline of our company, our core brand values, a map of where to find us and our most recent Instagram posts • Browse through our product catalog and click on your desired product • Scroll through pictures, read the product description, figure out your size on the size chart and add the item to your cart • Check out! Enter your address, a discount code if you’re lucky enough to have one and your card details and we’ll ship it straight to you! Further website screenshots can be found in the appendix Fig 33
  • 47.
    Customer Journey 47 This pageoutlines the customer journey through screen grabs. The website is being viewed on the Safari browser on an iPhone Fig 34 Fig 35 Fig 36 Fig 37
  • 48.
    Market Stall As wellas an online store, the business will also have a small physical retail space located in Old Spitalfields Market in the East End of London. A small market stall was decided on because it will be cheap to rent, but will be situated in a recently renovated permanent marketplace with solid wooden stalls just a stone’s throw from the vintage clothing centre of London, Brick Lane. The market stall also reflects a humble, home-grown message, as well as having little to no environmental footprint and being part of the wider community, perfectly aligning with the brand’s values. Old Spitalfields Market “champions small producers, local creatives and independents” (oldspitalfieldsmarket.com), so would be the perfect fit for the brand to start out before moving to a larger outlet. The market charges just £25 a day, and Era’s stall would open from Thursdays through to Sundays since that is the busiest time for the market. The stall would only accept card payments through Shopify, to streamline all business and sales into a user-friendly app, instead of having to deal with extra accounting, cash floats and potential loss or theft of cash. 48 Fig 38 Fig 39
  • 49.
    Staff At the initiallaunch of the business, one part-time employee will be hired to help with packing up orders and assist with running the stall. Since the office/warehouse will be located a 5 minute walk from Old Spitalfields Market, it will be easy to request cover on the stall for lunch breaks. The employee will work 24-hours a week, four 6-hour shifts on Thursdays, Fridays, Saturdays and Sundays. This job would be the perfect fit for a university student studying fashion or business since it would entail packing up orders coming in, assisting with customer service e-mails, updating and writing posts for the blog and uploading posts on social media which will be great to build a portfolio. The hourly wage will be £8.75 which is the UK living wage and this wage will be raised to £10 after 3 months if the employee has proved themselves to be trustworthy and devoted to the growth of the company. By the end of the fifth year, the company will have 7 employees on its payroll, including the tutor and the two participants of the social enterprise. 49 Transactions Era will be using Shopify as a platform for selling online as well as managing inventory and incoming sales. Shopify will allow the business to stay on top of orders, fulfilment and analytics by providing all information on the Shopify Mobile app. It will allow the business to accept any credit cards without third party accounts, charging 2.2% + 20p per online transaction and 1.7% per in person transaction. Using the app, the business’s inventory will be synced across all sales channels at all times, and it will be easy to get a detailed view of the business to better understand sales, orders and audience to better tailor the products on offer and the business’s marketing strategies. The online store can be easily edited and updated through the Shopify website or app, and for £59, Era will buy a card reader for taking payments at the market stall that links up seamlessly with the online account. Era will open up an HSBC Current Account for Start-ups, since this offers 18-months of free banking, and offers the most competitive rates of just £5.50 per month after the 18-month period has expired. The company will use internet banking for paying suppliers and monitoring cash flow. Fig 40
  • 50.
    Distribution Since customers willbe ordering items online, Era will need to use a courier to ensure a safe and efficient delivery. After researching various different distribution companies, it has been decided that myHermes is the best solution for the start-up business. It is by far the most convenient service, with the office’s local parcel drop off being less than 100m down the road, while also having very competitive prices. Customer feedback regarding the safe delivery of their purchases will be taken into consideration as the quality of the brand’s customer service is of paramount importance. Most parcels will be under 1kg in weight since none of my items are particularly heavy, which will cost £2.79 per parcel sent. I am going to offer free shipping to orders of over £50 since 58% of the more than 5,800 shoppers surveyed (in the 2014 survey conducted by UPS and digital analytics company comScore) had added an extra item to their cart just to qualify for free shipping (parcelhub.co.uk). I will also offer a flat-rate of £20 for international orders, but customers will have to pay import tax if their country requires it. Since 72% of online shoppers said they would be unlikely to buy again from a retailer if they had a difficult returns experience (royalmail.com), returns should be as easy and seamless as possible for the customer. I will include Royal Mail returns labels inside all of my parcels which will include Era’s address, a sender’s reference and a unique barcode, and Era will only be charged once a customer chooses to return an item and the barcode is scanned. 50 Elliot Packaging will be used to provide the mailing bags that I will use to ship my products. Biodegradable polythene mailing bags have been chosen since practicing sustainability in every aspect of the business aligns with the brand’s core values. While recyclable bags are cheaper, the chance that the end consumer will end up recycling the mailing bag is slim. Elliot Packaging allows for customisation of the bag, so Era’s logo and branding will be prominent so a customer will know who the parcel is from when it arrives. To keep the garments clean, they will be wrapped in recyclable tissue paper before being placed in the mailing bag, as Era would like to avoid using plastic at all costs. Fig 41 Fig 42 Fig 43 Fig 44
  • 51.
    Promotion 51 If Era isgoing to stand out from its competitors, it will need a successful promotion strategy. The primary avenue for promoting the brand will be through social media channels, mainly Instagram and Facebook. Era will curate active and visually interesting online accounts that will capture the target millennial audience. Social media is centred on storytelling and invites followers to engage with both the brand’s values and its products, as well as building a gradual awareness of the company. Visuals will be at the core of the online strategy, since visual posts produce 650% higher engagement rates than text-only posts (blog.iconosquare.com). Instagram influencers and fashion bloggers will also be used at the heart of the campaigns to raise consciousness and appreciation of the brand. Influencers will be gifted items from the collection to style in their own unique way to appeal to their substantial followings. Other online marketing activities include an easy-to-navigate and aesthetically pleasing website, coupled with an accompanying blog to educate and inspire potential customers. The blog posts will include vintage styling inspiration, retro make-up, advice on accessories to pair with the collection, feature posts from fashion bloggers and think pieces on sustainable and ethical fashion. Online advertising will be the one element of the promotion strategy where the company will have to spend money. Promoted posts on Facebook for Era have the potential to reach over 1,400,000 people and are completely flexible, depending on the budget for promotion at any given time. For traditional forms of media, Era will make every effort to forge close relationships with fashion magazines and stylists in order to raise awareness of the brand to an alternate clientele. It would be hugely beneficial for the company if its garments were to appear in national magazines and newspaper supplements as the exposure could kickstart nationwide sales almost instantly. For customers who have purchased from the brand, or are interested in receiving updates, an email newsletter will be distributed each week outlining new blog posts, product launches or sales promotions to build and maintain customer relationships. Fig X Fig 45
  • 52.
    Promotion 52 paid/owned/earned marketing communications paid ownedearned Promoted social media posts Magazine advertisements Brand ambassadors Online banner advertisements Targeted advertisements Website Online blog Facebook, Twitter, Instagram, Pinterest Snapchat and Instagram Stories Old Spitalfields Market Stall Blogs YouTube reviews Magazine coverage Word-of-mouth Affiliate links Customer social media posts Hashtags instagram visual content, pictures, user generated content facebook collate content from other platforms, tell the brand story youtube styling tips, editorial videos twitter create a buzz for the brand, educate followers on sustainable and ethical issues pinterest editorial pictures, vintage inspiration advertising online advertising sales promotion student discount, flash sales public relations brand ambassadors, fashion magazines direct marketing email marketingFig 46 Fig 47
  • 53.
    Promotion 53 Era sells high-quality,vintage–inspired garments that are influenced by your favourite it-girls from the 1960’s, 70’s and 80’s Promoted posts on Facebook and Instagram Encourage customers to share on social media via #eracollections to reach their friends and followers Stall in the East End of London, the city’s vintage hub, will introduce vintage admirers to the brand vintage consumers market message method Era’s fashion-forward garments are all made to the highest quality in sweatshop-free environments using sustainable fabrics, striving for the smallest environmental footprint possible Promoted posts on Facebook and Instagram Encourage customers to share on social media via #eracollections to reach their friends and followers Online blog outlining Era’s core values will allow ethical consumers to connect with the brand ethical consumers fast-fashion consumers Trend-led, vintage-inspired clothes from a small brand will help you stand out from the crowd with Era’s unique pieces Flash sales and biannual markdowns will encourage fast fashion customers to flock to the website Instagram influencers promoting Era’s products to their followings will allow their avid fans to interact with the brand Fig 48
  • 54.
    Brand Ambassadors 54 After interviewingan influencer and fashion blogger with over 150,000 followers on Instagram about potentially promoting Era to her following, she gave me a lot of interesting insights of what to expect when it comes to collaborating with brand ambassadors. Since Era is a start-up brand, it will be targeting influencers with less than 200,000 followers to promote its products, since the business will not have a big enough budget at the start to pay its brand ambassadors. The influencer I interviewed said she would be more than happy to post about small brands on her Instagram if she liked the brand enough and aligned herself with its values. The process Era will undertake to contact potential brand ambassadors will involve e-mailing them and suggesting gifting them with a product, providing them with a lookbook and giving them the option of an item from the collection in whatever size they require (dependent on stock). After receiving the garment, they will hopefully post about it on their Instagram story, include it in an outfit picture on their main Instagram feed and write a blog post involving outfit pictures with the garment, providing Era with a large amount of coverage. The fashion blogger questioned generally gets between 6,000 and 11,000 people viewing her Instagram stories, and a tagged brand in a story could expect approximately 80 link clicks. Upon starting the brand, Era will contact 8 influencers with followings of around 150,000 and gifting them with a product. If all of them just post about the brand on their Instagram story, Era should be viewed by at least 50,000 people (taking into consideration people that follow more than one of the influencers I am targeting), with at least 800 people engaging with the brand. Outfit posts on an influencer’s main feed will bring higher engagement with the brand, but since Era will not be paying for sponsored posts, there is no guarantee that the products will make it that far, unless the influencer truly loves the brand and the product they have received. As well as fashion influencers, Era has chosen to use two upcoming music artists to promote its products. Gifting will also be used here in the hope that they will wear the garments sent to them on stage at gigs or music festivals to create hype around the brand. The artists chosen are young and create folk-inspired music which reflects the care-free, retro vibe of the brand. The influencers I have chosen to target are: @hannahlouisef, @chloehelenmiles, @alicecatherine, @dazhaneleah, @llymlrs, @livpurvis, @shewearsfashion, @samanthamariaofficial, @ferrisandsylvestermusic, @jadebirdmusic and have a total combined following of over a million on Instagram alone.
  • 55.
  • 56.
  • 57.
    Pricing Strategy Era’s clothingwill be affordable to accommodate the target young target audience of the brand. On top of this, the company will also offer a 10% student discount though UNiDAYS to capture the student market. This is important to the brand since the student market is vital to the success of the business, with over 208m students around the world becoming financially independent for the first time, spending more than $417 billion in the US alone (unidays.com). UNiDAYS had partner sales of more than $2.5 billion in 2017, as well as a social community of over one million, so collaborating with them is a no brainer. As for markdowns, once established, Era would hold two big sales a year near the end of each season, as well as two flash sales per year of 15% off everything, but this would only be once the brand has a big enough mailing list or social media following. These flash sales will be the weekend of, or the weekend after pay-day, so more customers will have a disposable income to spend on clothes. 57
  • 58.
    Assumptions 58 Assumptions had tobe made within the financial documents to help forecast for a five-year plan. These assumptions include using the average mean selling price and average mean cost of the garments to predict sales, profits and costs. Sales projections from the market stall and website have been combined together to produce a realistic sales estimate. It has also been assumed that 40% of customers will return their items back to the company for a variety of reasons. This is to accommodate the extra postage charges that customer returns will require. Also, whenever stock is being replenished, 100 pieces of every item from the collection has been re-ordered in order to secure the best terms. It has also been assumed that there will be 10% shrinkage. Salaries and raises have also been taken into consideration, as well as pension funds and national insurance. By the end of the fi"h year, the company will have 7 people on the payroll at any given time (including the social enterprise candidates). Since the company will be holding a lot of stock by year 4, it is assumed that the business will need to move into a new, larger premises due to the expansion of the company. The final assumption is that all garments will all be equally popular with the customers. These assumptions should be taken into consideration when looking at the figures within the financial documents.
  • 59.
    59 Era Limited 1 Profit and Loss Statement for the first year ending 30th June 2019 Month 1 Month 2Month 3 Q2 Q3 Q4 Year Sales (Gross) - 11,700 21,060 65,520 46,800 70,200 215,280 Student Discounts (10% 0n 30% of sales) - 351 632 1,966 1,404 2,105 6,458 Net Sales - 11,349 20,428 63,554 45,396 68,095 208,822 Cost of Sales Direct Cost of Garments - 6,517 11,732 36,498 26,070 39,105 119,922 Postage & Packaging - 715 1,194 3,819 2,864 3,820 12,412 Cost of Market Stalls - 300 600 1,800 1,000 1,300 5,000 - 7,532 13,526 42,117 29,934 44,225 137,334 Gross Profit 0 3,817 6,902 21,437 15,462 23,870 71,488 Variable Costs Wages & Salaries 2,314 2,314 2,314 6,942 6,941 6,941 27,766 Rent & Service Charges 2,000 2,000 2,000 6,000 6,000 6,000 24,000 Insurance 1,000 - - - - - 1,000 IT 350 150 150 450 450 450 2,000 Travel 200 100 100 100 300 200 1,000 Accountancy & Audit 500 - - - 500 - 1,000 Legal 1,000 - - - - - 1,000 Printing & Stationery 450 50 50 150 150 150 1,000 Advertising & Marketing - 685 300 900 900 900 3,685 Telecoms 125 125 125 375 375 375 1,500 Entertaining 300 100 - 300 100 200 1,000 Other - - - 1,000 1,000 1,000 3,000 Start Up Costs 14,033 - - - - - 14,033 Social Outreach Programme Costs 22,272 5,524 5,039 16,217 16,716 16,216 81,984 Loss/Profit 22,272 1,707 1,863 5,220 1,254 7,654 10,496
  • 60.
    60 Era Limited 2 Profit and Loss Statement for the five years ending 30th June 2023 Year 1 Year 2Year 3 Year 4 Year 5 Sales (Gross) 215,280 358,488 487,656 861,120 1,029,600 Student Discounts (10% 0n 30% of sales) 6,458 10,755 14,630 25,834 30,888 Net Sales 208,822 347,733 473,026 835,286 998,712 Cost of Sales Direct Cost of Garments 119,922 199,696 271,649 479,688 573,540 Postage & Packaging 12,412 19,859 30,648 49,649 62,062 Cost of Market Stalls 5,000 5,000 5,000 10,000 10,000 137,334 224,555 307,297 539,337 645,602 Gross Profit 71,488 123,178 165,729 295,949 353,110 Variable Costs Wages & Salaries 27,766 35,051 61,920 91,126 101,638 Rent & Service Charges 24,000 26,000 28,000 40,000 45,000 Insurance 1,000 1,200 1,300 1,500 1,500 IT 2,000 2,000 2,000 2,000 2,000 Travel 1,000 1,000 1,000 2,000 2,000 Accountancy & Audit 1,000 1,000 1,000 1,500 1,500 Legal 1,000 1,000 1,000 1,500 1,500 Printing & Stationery 1,000 1,000 1,000 1,500 1,500 Advertising & Marketing 3,685 5,370 5,870 7,555 8,055 Telecoms 1,500 1,500 1,800 2,500 2,500 Entertaining 1,000 1,000 1,500 2,000 2,500 Other 3,000 3,000 3,000 5,000 5,000 Start Up Costs 14,033 6,159 Social Outreach Programme Costs 42,694 42,694 81,984 79,121 109,390 207,034 217,387 Loss/Profit 10,496 44,057 56,339 88,915 135,723
  • 61.
    61 Era Limited 3 Balance Sheets for the five years ending 30th June 2023 Year 0 Year 1Year 2 Year 3 Year 4 Year 5 Current Assets Stock 0 60,198 85,652 84,183 99,825 156,705 Bank and Cash 100,000 29,306 47,909 105,717 178,990 257,833 Net Assets 100,000 89,504 133,561 189,900 278,815 414,538 Shareholder Funds Shareholders Investment/Equity 100,000 100,000 100,000 100,000 100,000 100,000 Retained Income Brought Forward 0 0 10,496 33,561 89,900 178,815 Profit/Loss for year 0 10,496 44,057 56,339 88,915 135,723 Carried Forward 0 10,496 33,561 89,900 178,815 314,538 Shareholders Funds 100,000 89,504 133,561 189,900 278,815 414,538
  • 62.
    62 Era Limited 4 Cash Flow Projections for the first year ending 30th June 2019 Month 1 Month 2Month 3 Q2 Q3 Q4 Year 1 Sales Receipts 0 11,349 20,428 63,554 45,396 68,095 208,822 Equity Investment Received 100,000 0 0 100,000 Cash Inflow 100,000 11,349 20,428 63,554 45,396 68,095 308,822 Cost of Sales 45,030 0 0 45,030 45,030 45,030 180,120 Postage & Packaging 715 1,194 3,819 2,864 3,820 12,412 Cost of Market Stalls 300 600 1,800 1,000 1,300 5,000 Wages & Salaries 2,314 2,314 2,314 6,942 6,941 6,941 27,766 Rent & Service Charges 2,000 2,000 2,000 6,000 6,000 6,000 24,000 Insurance 1,000 1,000 IT 350 150 150 450 450 450 2,000 Travel 200 100 100 100 300 200 1,000 Accountancy & Audit 500 500 1,000 Legal 1,000 1,000 Printing & Stationery 450 50 50 150 150 150 1,000 Advertising & Marketing 685 300 900 900 900 3,685 Telecom 125 125 125 375 375 375 1,500 Entertaining 300 100 300 100 200 1,000 Other 1,000 1,000 1,000 3,000 Start Up Costs 14,033 14,033 Social Outreach Programme Costs Cash Outflow/Inflow 32,698 4,810 13,595 3,312 20,214 1,729 29,306 Bank brought forward 0 32,698 37,508 51,103 47,791 27,577 0 Bank carried forward 32,698 37,508 51,103 47,791 27,577 29,306 29,306
  • 63.
    63 Era Limited 5 Cash Flow Projections for the five years ending 30th June 2023 Year 1 Year 2Year 3 Year 4 Year 5 Total Sales Receipts 208,822 347,733 473,026 835,286 998,712 2,863,579 Equity Investment Received 100,000 0 0 0 0 100,000 Cash Inflow 308,822 347,733 473,026 835,286 998,712 2,963,579 Cost of Sales 180,120 225,150 270,180 495,330 630,420 1,801,200 Postage & Packaging 12,412 19,859 30,648 49,649 62,062 174,630 Cost of Market Stalls 5,000 5,000 5,000 10,000 10,000 35,000 Wages & Salaries 27,766 35,051 61,920 91,126 101,638 317,501 Rent & Service Charges 24,000 26,000 28,000 40,000 45,000 163,000 Insurance 1,000 1,200 1,300 1,500 1,500 6,500 IT 2,000 2,000 2,000 2,000 2,000 10,000 Travel 1,000 1,000 1,000 2,000 2,000 7,000 Accountancy & Audit 1,000 1,000 1,000 1,500 1,500 6,000 Legal 1,000 1,000 1,000 1,500 1,500 6,000 Printing & Stationery 1,000 1,000 1,000 1,500 1,500 6,000 Advertising & Marketing 3,685 5,370 5,870 7,555 8,055 30,535 Telecom 1,500 1,500 1,800 2,500 2,500 9,800 Entertaining 1,000 1,000 1,500 2,000 2,500 8,000 Other 3,000 3,000 3,000 5,000 5,000 19,000 Start Up Costs 14,033 6,159 20,192 Social Outreach Programme Costs 42,694 42,694 85,388 Cash Inflow 29,306 18,603 57,808 73,273 78,843 Bank brought forward 0 29,306 47,909 105,717 178,990 Bank carried forward 29,306 47,909 105,717 178,990 257,833
  • 64.
    64 Year 1 Year 2 Year 3Year 4 Year 5 Items in Collection 19 19 19 19 19 Order quantity per garment 100 100 100 100 100 Number of times to re-order 4 5 6 11 14 Stock IN (units) 7600 9500 11400 20900 26600 Stock OUT (units through sales) 4,600 7,660 10,420 18,400 22,000 Shrinkage 460 766 1,042 1,840 2,200 Balance (units) 2,540 3,614 3,552 4,212 6,612 Cost of Stock 180,120£ 225,150£ 270,180£ 495,330£ 630,420£ Value of Stock 60,198.00£ 85,651.80£ 84,182.40£ 99,824.40£ 156,704.40£ Era Limited Stock Control for the five years ending 30th June 2023
  • 65.
    Overview 65 From the calculationsshown in the supporting financial documents, it has been decided that Era will have to raise £100,000 in order to set up the business. £70,000 of this will hopefully be raised through crowdfunding methods, while the balance of the £100,000 will come from family and friends in return for equity. After raising the £100,000 to start the business, £45,000 of this will be spent on purchasing the initial drop of stock and £14,033 will be spent on initial start up costs. Since products will take 6 weeks for production, the company will only start to see sales halfway through month 2. After steady growth throughout the year, £29,306 will be left in the bank, but the company will have made an overall loss of £10,496. The company will break even by the end of year two and the stall opening in Manchester in year 4 will give the brand a big sales boost. By the end of year 5, over £80,000 will have been invested into the social outreach programme. Era is a pure cash business, meaning that it will pay for stock the same day as purchase, get cash receipts for what has been sold on the same day and will pay any expenses and taxes due on the same day they are incurred. Even though sales are the most important factor of any business, from an operational point of view, control of stock and cash in the bank are the 2 key things Era has to consider. The company is shown to build gradually in value over the course of the 5 years, and is planning to be in a position to start paying dividends to its shareholders in year 6 or 7. Three significant events occur within the five year plan that are key to the business’ growth, all of which happen in the 4th year: moving to a larger premises, hiring more employees and starting the social enterprise programme and opening the stall in Manchester. The business model created gives the company great flexibility to reduce costs if it needs to, but also allows for the business to significantly expand its operations if it performs better than expected.
  • 66.
  • 67.
    Risks 67 Being a startupbusiness, there are many risks that Era will have to consider. The main issue the company would run into would be being unable to sell enough stock. This could occur for a multitude of reasons including using the wrong promotion strategy for the target audience, pricing the products incorrectly and the over ordering of stock –  especially since the manufacturers have minimum orders of 100 units per style. Overtrading could also be a potential problem, which could transpire from disruptions in the supply chain and more product returns than expected. The latter can be easily prevented, by making the returns policy very clear before customers purchase an item online. Customers will return items for a variety of reasons, but there are simple ways to combat returns and make sure the customers are happy with the product they receive. 20% of customers return products because they are damaged, which can be solved by quality control both in the factories and before distribution, as well as ensuring secure packaging so the item doesn’t get damaged in transit. 23% receive the wrong items, which is simply an issue of attention to detail when completing an order and 22% of customers would send an item back because the product received is different to what they were expecting. This can be reduced by providing in-depth product descriptions, multiple product photos and an accurate sizing chart. (Statistics collected from invespcro.com) To combat overtrading, Era will be leasing certain assets (such as Shopify) rather than buying them outright which would amount to huge start-up costs for the company. The business will also cut costs as much as possible to increase cashflow and profits. Extensive research will hopefully mitigate these risks as much as possible, but the most important thing is to have sufficient cash resources available to the company so that it can continue trading and adapting its strategies for at least a year, even in adverse conditions. Another issue is intellectual property. The business will need to protect itself against theft of designs and branding, as well as any accusations of plagiarism from a third party. Era will need business legal protection insurance which provides protection against the potential costs brought by or against the business. Stock insurance will also be required to ensure the business is protected financially in the event of a fire, burglary or any other significant loss of stock.
  • 68.
  • 69.
    Conclusion 69 Era has demonstratedthat it is a viable business from not only the financial figures, but the overwhelmingly positive response received from participants interviewed in the focus group and online survey. The key to Era’s potential success is that it has important values that customers are able to resonate with. Its core values are ambitious and the brand will strive to align itself with the wants and needs of the target audience. The business has been set up to advantage both the environment – through using sustainable materials and minimising the carbon footprint of the company – and the community – by launching a social enterprise and supporting British manufacturers. On top of this, Era will be in good financial health by the end of year 2 by becoming cash positive and making a profit of over £40,000. Within the five-year plan, Era will move to larger premises, have seven employees on the payroll, start a social outreach programme to help disadvantaged teenagers and open up a second retail space in the home of vintage, Manchester. Era wants to build a brand that will have longevity, and will respond to the customer’s desires. The business will strive to bring new creative and unique pieces season to season to capture new audiences and build up a worldwide following. Fig 52
  • 70.
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    Figures 71 • 1: chloehelenmiles.com •2: alicecatherine.com • 3: alicecatherine.com • 4: alicecatherine.com • 5: author • 6: author • 7: author • 8: collectif.com • 9: author • 10: author • 11: author • 12: author • 13: author • 14: author • 15: author • 16: hannahlouisef.com • 17: author • 18: author • 19: author • 20: author • 21: author • 22: author • 23: author • 24: author • 25: hannahlouisef.com • 26: @naninvintage, Instagram • X: author • 27: author • 28: hannahlouisef.com • 29: author • 30: liliclaspe.com • 31: chalkfashionhouse.co.uk • 32: zara.com • 33: author • 34: author • 35: author • 36: author • 37: author • 38: oldspitalfieldsmarket.com • 39: oldspitalfieldsmarket.com • 40: money.co.uk • 41: author • 42: myhermes.co.uk • 43: royalmail.com • 44: elliottpackaging.co.uk • 45: nadineijewere.co.uk • 46: author • 47: author • 48: author • 49: @livpurvis, Instagram • 50: @shewearsfashion, Instagram • 51: @jadebirdmusic, Instagram • 52: hannahlouisef.com
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    Reflective Statement 77 My finalyear studying at London College of Fashion has definitely been my favourite so far. I have found each module extremely interesting, and have performed to my highest academic ability this year. Fashion Futures and Innovations really captured my attention because I am intrigued in the future of the fashion industry, including the use of artificial intelligence and how brands are already using such advanced technologies to better understand their customers. I genuinely enjoyed the research for this project, and I feel as though my research skills definitely developed in the first term which has ultimately been extremely useful when undertaking research for my Final Major Project. I have always thrived when completing the more creative sides of my university assignments, and I am very proud of the overall design of my report, which I feel definitely contributed towards my highest mark to date. I struggled to get into the Strategy module in the first term because of my interest in the other module, my social life being more active than ever, as well the daunting feeling of being less confident on my abilities to perform well in an exam. However, I loved the second term since I was able to choose my module: Integrated Strategic Campaigns. Creative advertising has always been a dream career path for me, and the workshop with Brian Galloway really cemented my interest in the industry; I have been looking for internships and graduate jobs in this sector ever since. I undertook the challenging task of creating a Gucci-esque fashion film, while teaching myself basic editing skills using Premier Pro. While I was extremely pleased with the visual outcome of the film, I realised that creativity is not everything on this course, and while I was praised for thinking outside the box in the first term, the same recognition was not given in the second. Even though I had a distinct idea for my business plan since September, I really struggled to get into the project since we had a lot of other important work to get on with alongside it. I found it frustrating as I was making extremely slow progress; my idea was definitely more developed at the beginning of the year than any of my peers, so I justified delaying vital primary and secondary research in the early stages. I was overwhelmed with the workload and simply didn’t know where to start, but once I got the ball rolling and undertook some primary research I became increasingly confident in my analytical abilities and started to pad out my report. I have found it challenging to bring in all of the new aspects that the course has never expected us to consider before, such as finance and forecasting, and have found working with figures particularly difficult since we have always worked to unlimited budgets. The extended writing has also been a struggle for me since we are expected to write in a critical, analytical and academic tone. I thrive when writing short colloquial pieces (which is why I think I would be a perfect fit in advertising as a copywriter), but academic language does not come particularly naturally to me, so I have made every effort to adapt my writing style specifically for this project.
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    Reflective Statement 78 I havehad difficulty managing my time over the past year. I have struggled with large, looming projects since I was a child, but the lack of structure of university life has made my organisational skills significantly worse. I tend to put projects off until I feel enough pressure from either my peers or my tutors, and only then will I dedicate all of my time and passion towards an assignment. I still have a way to go when it comes to developing my time management skills, even though I have never missed a deadline and have always felt relatively confident in the work I submit. In regards to my professional development over the course of university, I worked three different retail jobs in my first two years – at Selfridges, Urban Outfitters and Jo Malone London; however, I felt it was best to dedicate all of my time towards my studies in my final year. Working in retail has been immensely valuable, both in shaping my outlook on life and furthering my understanding of the fashion industry. In this way, my professional life has complemented my studies very well. In the Christmas holidays of the final year, I found myself assisting a stylist for a week. I was eager to pursue this opportunity, but I realized during the experience that freelance styling work is not an attractive next step in my career. While I am hardworking and eager to get what I want in life, and fashion styling is amongst one of my true passions, I am not prepared to work for up to 3 years working as an assistant while never getting the chance to style an outfit myself. Hunting for jobs has been a difficult process that I have chosen to put off until after my final hand-in since I definitely do not need any extra stress at this time. Since coming to university in London, I have gone through a lot of personal growth, especially in final year where I have found myself in my ideal living situation with multiple groups of friends dotted around London. My social life has really thrived in London, and I have found myself particularly content in my final year after having difficulty getting accustomed to city life in first year and having problems with friendship groups in second year. I am truly happy I chose London College of Fashion as my choice for university as, overall, I have thoroughly enjoyed my course and have learnt invaluable life lessons over the past three years.
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    Survey Responses 79 An onlinesurvey was distributed to an audience of 18-35 year old women and received 43 responses. Here is a visual overview of the responses:
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    Focus Group Responses 80 Doyou tend to shop more in-store or online? Online (all 4), Would prefer to shop in-store (1) Why do you shop online? Convenience, Access to smaller brands that might not have a store near me/are only online How often do you shop vintage? Quite often (3), Never (1) Why do you like to shop vintage? Individual, unique pieces (2), like the oversized fit – it has become my signature style (1) Why wouldn’t you shop vintage? Takes up too much time to search (2), no good stores around me (1), find it hard to find clothes that fit well (1) Do you recycle? Cardboard/plastics/etc.? Yes, whenever I can (all 4) So you all care about the environment then. Do you buy from fast fashion retailers? Yes (all 4) Fast fashion is extremely damaging to the environment. Did you know that 11 million tonnes of textiles are sent to landfill each year and the average item of clothing is only expected to last 10 washes before falling apart? Also, toxins such as lead, arsenic and mercury which are used in the textile industry are dumped into main water supplies, causing adverse health problems amongst millions of people around the world. Were you aware of these facts? I know it is a dirty industry but try not to think about it when purchasing fast fashion (2), I had no idea of the true impact of where my clothes came from (2) After hearing about this, would you like to be more ethically conscious when it comes to buying fashion? Yes (all 4), it’s awful but unfortunately I would definitely still buy fast fashion (3) Would you spend slightly more money on an item if you knew it was sustainable and ethical, but is just as fashionable as the clothes you are buying already? Yes, definitely (all 4) Would you expect to pay more for clothes that are made in Britain? Yes (all 4) Why is this?
 Higher quality materials and construction (3), no sweatshops (1), brands seem to have heritage behind them (1) Do you ever browse through market stalls?
 Yes, I live right by Old Spitalfields Market and tend to browse every 2 weeks (1), no (1), if I was visiting a new city or new country and it was a tourist destination then I would (2) Can you think of a specific store that specialises in newly-made, vintage-inspired clothing?
 No (3), Yes! Collectif (1) Do you think there is a market for my brand – an ethically conscious vintage-inspired fashion retailer that brings pre-millennial fashion to millennials? Yes (all 4) A focus group was conducted with four women between the ages of 20 and 23. Here is a brief overview of the responses:
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    Questionnaire Responses 81 1. Howlong have you been running your stall/shop? Nearly 4 years 1 year but selling for 4 years My boss has been doing markets for about 7 years now, but only been at Trumans Vintage market for about 2 years 2. How many days a week is your stall/shop open? 4 days 4 days The vintage market at Trumans Brewery is open from Thursday-sunday 3. How do the seasons affect sales? Items sell by season – jumpers in Winter, skirts and dresses in Summer Yes – in Winter sell bigger ticket items like coats, in Summer people are looking for one off pieces for weddings/festivals The market can be very unpredictable, there’s never a season that does better or worse! Summer and Christmas however are the busiest every year! 4. Why did you choose to open a store on Brick Lane? Nowhere really like Brick Lane Vintage Market, don’t have to set up, cheap, be creative with the space Cheaper than opening a store but more of a boutique environment than a market stall - 5. Is this your only stall/shop? If not, where else are you located? ASOS marketplace Yes, this is the only stall We have two stalls at Trumans vintage market, but also sell through Instagram 6. Do you have an online store? No No, but sell items through instagram as well as emailing regular customers with new finds Nope, but sell through Instagram and regularly do insta sales, which last 24 hours. 7. Do higher or lower priced items sell better? Mix Mid range items – earlier items from the 1920s cost more vs 1990s Mainly lower priced items sell better, but even then people always try to barter. 8. How many items do you sell per day? How many customers? (Weekday vs weekend) 150 a week Weekends 10-20 items a day, Thurs/Fri 6-8 items a day Weekday= Thursday and Friday we sell average of 10 items in total for both stalls: approx. Max 20 customers per day, Weekend= can sell from 20-30 items each stall; can see min of 50 customers 9. What methods do you use to bring customers to the shop and market your products? Tourist destination, bright colours Social media, build a rapport with customers, tell the history of the items My boss tries to make sure that she is doing something different from everyone else. Uniqueness is really important as it can be very competitive. She also tries to create a buzz on her Instagram to market her products. Not only that but we change our merchandising and displays every week. 10. What pieces tend to sell particularly well? Tommy Hilfiger, brands, sportswear, colourful & patterned individual pieces Dresses, particularly from the 1950s as customers love the silhouette Our best sellers are branded items such as Levi jackets, Levis jeans, Harley Davidson t- shirts and then more unique items we have such as Afghan dresses. 11. Does your boutique have a distinctive brand? The painted floor, 80s True vintage, customers have a love of nostalgic and individual pieces We do a lot of American brands such as Levis and Harley Davidson. Our main focus is American vintage. 12. Who is your target customer? 14-22 All ages as well as costume departments for plays/films Our target customer is women from 18-30 years old who are looking for not just everyday vintage pieces to wear but stand-out occasion wear as well A questionnaire was distributed amongst vintage stalls in the Brick Lane Vintage Market and Old Spitalfields Market Stalls. Here are the responses received: Dreaming London Something Old Something New Magpie Vintage
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    Correspondence with ChalkManufacturers 86
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