Gear up is a proposed private label brand by Victoria's Secret targeting young Hispanic and African American men ages 21-30. It will offer a small selection of basic men's underwear, socks, undershirts, sweaters, pajamas, and slippers in urban and hip hop styles. The marketing strategy is to launch the brand in December 2011 with a commercial during the Victoria's Secret fashion show and advertisements in hip hop magazines in 2012. Five stores will open in New York, Atlanta, and Los Angeles in January 2012 located in regional malls in urban areas.
2. Demographics Psychographics
•Male
This is a young man that
•Hispanic & African
owns a Nissan Altima. He
American
listens to Hip-hop music. He
• 21-30 yrs.
likes to network through
• $40,000
Facebook, Youtube, twitter.
• College student
He likes to hang out in
• Single or in relationship
groups with friends. He also
• Sharing a household
likes to go to the mall. He
with others
watches BET entertainment
• Lower middle class
channel and music videos
and sports. He likes to eat
fast food.
Gear up
by
3. This opportunity will bring a percentage of sales every
season throughout the years, this brand will have a
consistency of cash flow. Gear up will be a hip and urban
image for the young man. Launching the campaign will bring
an exclusive feel, but yet an affordable price Zone. Statistics in
Census.gov shows that there will be a growing market for
Hispanic and African ethnicities of the target market. Gear up
is based on utility and fashion. Other competitors only focus
on utility, that is what will differentiate this line from
competitors. Gear up will have great retail space that is bright
and futuristic , well laid out, and centrally located.
6 stores x 10 units per week x 26 weeks x 9 styles x
20 Avg.Ret.Price = $280,800.00 sales potential. Given the substantial
amount of prospective sales. Victoria’s Secret would be wise to
invest in a private label for basic good to increase yearly revenue.
Gear up
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4. Department stores like J.C. Penney and Sears will continue
to loose share to other formats because department stores are
just too difficult to shop and provide no service. Gear up will
only carry a small selection of styles and colors. The consumer
will be able to find our products fast without offering too many
selections, which causes the consumer to lose interest. We
will only focus on catering to the young man.
Gear up will sell a range of basic goods with different color
Assortments. The following is a partial list of the offering at
any one time at budget to moderate pricing:
Underwear:Tube socksSweaters:
Briefs Ankle socks Hooded zipper Sweater
Boxer BriefsUndershirts:Pajama Set
Socks: Tanks Slippers
Crew socks Crew neck
Low cut socks V-neck
9. Gear up is a private label design by Victoria’s Secret.
Gear up will continue to foster strategic relationships
with vendors to find the right sourcing at the
best prices. Gear up will provide it’s customers with a
small selection of basic goods at reasonable prices for
men. Also Gear up will keep up with the latest trends in
basic goods by attending trade shows yearly for the
latest trends and colors for the current season’s.
10. The strategy of the marketing campaign In December
2011, Gear up will bring awareness to the target
consumer. Gear up will introduce the brand in the month
of December , a commercial will air by a known artist in
the hip hop industry during the Victoria’s Secret fashion
show. In the new year of 2012, Gear up will have
advertisements on hip hop magazines, Rap it up, Vibe
and Source magazines. Gear up will only be available in
five locations in the U.S. Gear up will focus on opening
physical stores in mid January in New York, Atlanta and
Los Angeles. Gear up will be available in regional malls
located in the urban cities. Gear up will offer limited
edition colors in Valentines day and Father’s day and
other small gift sets. There will be a free gift with
purchase for customers that spend over $40 dollars.
When a certain amount of customers are reached, Gear
up will issue catalogs only to preferred customers . We
will communicate through Facebook and Twitter for
updates and promotions.