Here is a presentation I gave at the Fashion Forward conference in Dubai on April 11th 2014 on the topic of sourcing and buying in this decade - the decade of personalisation.

1. Sourcing and Buying in the Decade of Personalisation
Fashion Forward
April 2014
Kiyan Foroughi – CEO & Co-Founder

2. #boticca
Background
Boticca is the world’s online destination for jewellery,
bags and fashion accessories made by carefully sourced
independent designers and small & medium brands
from across the world.
We currently work with 370 brands from 40+ different
countries and offer over 11,000 different pieces for sale
on the website on a curated marketplace business model
to customers in 60 different countries on any given month.

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Last Decade: The Decade of Mass Production & Fast Fashion
• In the 2000s, the world became a smaller place
and experienced unprecedented growth until the
financial crisis.
• Brands like H&M, TopShop, Mango and Zara
expanded aggressively and filled out the closets
of consumers worldwide.
• Everyone was left buying the same products:
– Mass produced
– Low quality
– Impersonal
• We were left with mass consumerism...and
no differentiation.

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What Is Changing This Decade
• Technology has made the consumer savvier and
smarter than ever.
• Smartphones, tablets, social networks, marketplaces
and the development of global e-commerce has given
users unprecedented amounts of tools to discover
products and brands from all over the world.

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What Is Changing This Decade
• Consumer fatigue is settling in:
– Same brands
– Same products
– Same boring marketing messages
– Same formulas
• People are tired of wearing the same products that
they’ll most likely see on their friends, colleagues
and family.
• Customers are looking for:
– Something different
– Something unique
– Something that reflects their personality and style
– Something that allows them to stand out

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This Decade is the Decade of Personalisation

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The Consumer Is More Sophisticated In Its Choices
• They are not only looking for differentiation, but they
are looking to build a relationship with the brand.
• They want to know:
– Who is the maker?
– How is it made?
– Where is it made?
– Where are the materials from?
– What are the brands’ values and how does that
reflect on them?
• Therefore, a more sophisticated customer in the
pursuit of differentiation needs in evolution in
how retailers and boutiques source their brands
and products.

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How to Source: There Needs To Be A Story
• This is where it all starts.
• Whether it is in:
– the background of the brand or designer
– the inspiration of the collection
– the materials used
– the techniques employed
– where it is made
• There needs to be a story somewhere, and it needs to
be communicated to the customer.

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How to Source: Know Your Market
Define your market and target audience
Who is your ideal customer?
What is their average spend?
What are their habits?

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How to Source: Geography
• The world is already one big village, so make sure your
products reflect a global style and awareness.
• Be more creative with where you source your brands.
• Don’t just focus on sourcing from the traditional
fashion capitals (Paris, London, New York and Milano)
and explore places off the beaten path.

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New Fashion Capitals
Seoul, South Korea

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New Fashion Capitals
Istanbul, Turkey

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New Fashion Capitals
Amsterdam, The Netherlands

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New Fashion Capitals
Buenos Aires, Argentina

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New Fashion Capitals
Taipei, Taiwan

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New Fashion Capitals
Tokyo, Japan

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How to Source: Quality & Production
• Make sure you do a deep dive into the quality of
products and how they are made:
– Materials: where are they from?
– Techniques used
– Workshop & production facilities
– Quality control

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How to Source: Pricing & Data
• One of the most overlooked components of the
sourcing and crucial to get right.
• Compare your mark-up and price to what else is
available out there.
• Customers do price comparison shopping, you
should too.
• Make sure your mark-ups are fair – customers are
savvy and unless you’re a premium brand or offering
a premium experience, they’ll figure it out and take
their business elsewhere.
• Let the numbers be your guide:
– Rates of sale
– Sell through percentages
– Returns vs. Sales

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Laying It All Out for the Customer
• Online: detailed product descriptions, pictures and
details on where the materials are sourced from.
• Offline: information on tags, an in-store experience
that reflects the brand and the story.
• Make sure shop staff are well-versed and can tell
the stories.
• Transparency is key.

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Conclusion
Personalisation
Stories
Provenance
Global
Numbers
Transparency

21. Thank you!
Any questions?
kiyan@boticca.com