Buying Process of the Gucci Collarless Tweed Jacket

BUYING PROCESS
Name
University
Due Date
Table of Contents 1.0 Abstract 3 2.0 Introduction. 3 3.0 Strategy. 3 3.1 Current Trend. 3 3.2 Fabric Trend. 4 3.3 Trend Inspiration. 4 3.4 Customer Research. 4 3.5 Pricing Architecture. 5 4.0 Design Development 5 4.1 Buyer’s Responsibilities. 5 4.2 Design Process. 6 4.3 What Makes a Successful Design Process?. 6 5.0 Range Build. 7 5.1 What Makes a Successful Range Build?. 8 6.0 Selection. 8 6.1 Buyer’s and Merchandiser’s Responsibilities. 9 7.0 Order Placement 9 8.0 Critical Path Management 9
1.0 Abstract
This report examines the buying process of the Gucci collarless tweed jacket. It begins by discussing the inspiration behind the jacket's development and its target market, followed by a description of the design process involved in its production. The report also covers the importance of range building, order placement, critical path management, and quality control in ensuring the successful production and delivery of the jacket to UK stores. Finally, the report discusses the launch of the jacket and how visual merchandising can be improved. Future trends in the fashion retail industry, particularly in sourcing, are also explored.
Figure SEQ Figure \* ARABIC 1: Gucci's Tweed Collarless jacket (Gucci, 2023)
2.0 Introduction
Fashion retailing is a complex and dynamic industry that involves a series of processes that starts from understanding the market demands to provide the best products to the customers. One of the most important processes in fashion retailing is the fashion buying process. It involves a series of steps such as understanding the market trends, developing a design, sourcing raw materials, production, pricing, and distribution (Gorowek 2010). In this report, we will discuss the importance of considering the fashion buying process in understanding fashion retailing. To illustrate this, we will take the example of the Tweed collarless jacket, a Gucci product sold at £3800. Through this example, we will explore how each step of the fashion buying process plays a crucial role in the success of a product and the overall business.
3.0 Strategy
3.1 Current Trend
The global value of the coats and jacket segment of fashion retail is estimated at £40.16bn in 2023, with an expected annual growth of 0.74 percent for the next five years. Of these, the United Kingdom has an estimated value of £2.44bn in 2023 with an expected expansion of 1.51 percent for the next five years.
The information on the global value of the segment is essential in determining the likelihood that a given product will have a market as the growing trend suggests that the market will be in search of new products as long as they are considered fashionable and are effectively marketed. Given that The UK is expected to expand at a higher rate of 1.51 percent, there is a particularly strong demand for this type of product in the UK. Thus, Gucci can focus on marketing the Tweed collarless jacket specifically to UK consumers. The estimated value of the UK market for coast and jacket products at £2.44bn in 2023 provides a benchmark against which Gucci can measure the potential success of the Tweed collarless jacket. The overall value of the market segment also provides a benchmark against which Gucci can measure the potential success of the Tweed collarless jacket.
Tweed is a woolen fabric that is typically rough and coarse to the touch, with a distinctive pattern of small, irregularly-spaced flecks of different colors. The inspiration for the development of tweed jackets as a trend can be traced back to the early 19th century in Scotland, where tweed was originally developed as a practical and durable fabric for outdoor wear. Over time, tweed jackets became associated with the British upper class and were worn for hunting and other outdoor pursuits. In the 1920s and 1930s, tweed jackets became more widely popularized as a fashion item, particularly in England and the United States. The jackets were often worn as part of a country or Ivy League look and were favored by stylish men such as Prince Charles and Steve McQueen.
In the 1990s, tweed jackets fell out of favor somewhat, as grunge, and hip-hop styles became more dominant in fashion. However, in recent years, there has been a renewed interest in traditional British styles, and tweed jackets have emerged as a staple of contemporary menswear. This trend has been driven by several factors, including a growing interest in sustainable and locally-made products, as well as the influence of vintage and heritage styles on modern fashion (Anderson, 2006). Today, tweed jackets are being introduced by various fashion retailers in large numbers, as designers and consumers alike seek to capture the timeless and classic appeal of this British staple.
3.2 Fabric Trend
Tweed is a woolen fabric traditionally made from wool, but in recent times, there have been changes in the materials used to create the fabric, and one such change is the use of cotton and viscose. Cotton and viscose blends are becoming increasingly popular for tweed fabrics because they offer a range of benefits such as comfort, durability, and affordability. The fabric used for the development of the Tweed collarless jacket is 63% Cotton and 37% Viscose.
Viscose is a man-made fiber that is created from wood pulp. It is also known as rayon, and it has been used in the textile industry for over 100 years. Initially, it was produced to mimic silk, but over time, its applications have expanded. Viscose is a popular fabric because it is lightweight, soft, and comfortable to wear (Bengtsson et al., 2022). It also has good draping qualities, which make it a suitable fabric for a range of garments, including tweed jackets. Over time, the production of viscose has evolved. Early forms of viscose production were associated with environmental pollution, as the process required the use of large amounts of chemicals, including sulfuric acid. However, in recent times, there has been a shift towards more sustainable forms of viscose production, such as the use of closed-loop production processes, which minimize the use of harmful chemicals and reduce waste.
In terms of fabric trends for tweed, the use of cotton and viscose blends is becoming increasingly popular, particularly as designers seek to create fabrics that are more affordable and accessible to a wider range of consumers. Additionally, there is a growing trend towards sustainable and environmentally-friendly fabrics, and the use of closed-loop viscose production processes is becoming more common in the textile industry. Overall, the trend for tweed fabrics is towards greater sustainability, comfort, and affordability, while retaining the classic and timeless appeal of this traditional British fabric (Crewe 2013).
3.3 Trend Inspiration
The Tweed collarless jacket is available in ivory color but has a black striped trim. It comes in eight sizes ranging from 36IT to 50IT. The jacket is lined, collarless, and comes with two front pockets. The buttons are black and square crystal in shape.
3.4 Customer Research
Overall, the target market for the tweed collarless jacket for women is likely to be sophisticated, fashion-conscious, and affluent women who value quality, craftsmanship, exclusivity, and heritage in their fashion choices. They are looking for a high-end luxury item that will showcase their style, taste, and status and will be a timeless addition to their wardrobe.
The target market for the tweed collarless jacket is likely to be high-end luxury consumers who are interested in investing in quality, craftsmanship, and exclusivity in their fashion choices. These women may have a high disposable income and are looking for luxury items that are both stylish and functional. The target customer is fashion-conscious women who follow the latest fashion trends and are willing to invest in high-end, premium fashion products (Cassidy & Han, 2017). These women may be professionals such as executives, entrepreneurs, or celebrities who are influential in shaping fashion trends and are known for their high-end fashion choices.
The target customers may also be individuals who appreciate the history and cultural significance of tweed as a traditional British fabric and want to own a piece of this heritage. They may be looking for a timeless piece that will not only make a statement but also be a valuable addition to their wardrobe.
3.5 Pricing Architecture
The price architecture for the tweed collarless jacket is premium pricing, which means that the product is priced at a premium compared to similar products in the market. The premium pricing strategy is used by luxury fashion brands such as Gucci to create a perception of exclusivity, quality, and luxury among its target customers. The price of the jacket at £3800 is consistent with the premium pricing strategy and reflects the high quality of the product, the use of premium materials, and the craftsmanship that goes into making the jacket. Additionally, the price is also a reflection of the exclusivity of the brand and the limited availability of the product.
In terms of the price architecture, the tweed collarless jacket is likely positioned as a flagship product within Gucci's product range, and its high price point serves to reinforce the brand's image as a symbol of luxury, style, and exclusivity. The price of the jacket may also be used to differentiate Gucci's products from its competitors and create a perception of superior quality and exclusivity. Overall, the premium pricing strategy used for the tweed collarless jacket reflects the high-end positioning of the Gucci brand and the quality and exclusivity of the product, which is likely to appeal to the target market of high-end luxury consumers looking for premium fashion products.
4.0 Design Development
4.1 Buyer’s Responsibilities
As a buyer for Gucci, the responsibilities in the design development of the tweed collarless jacket would involve working closely with the design team to ensure that the product meets the brand's quality standards, target market, and overall design strategy. One of the primary responsibilities would be to stay informed about the latest trends in fashion, including fabric choices, styles, and colors, by attending fashion shows, reading fashion magazines, and conducting market research (Perry & Kyriakaki, 2014). This knowledge would be used to inform the design and development of the jacket, ensuring that it is relevant, on-trend, and appealing to the target market.
In terms of fabric choices, the buyer would be responsible for selecting high-quality fabrics that meet the brand's standards for sustainability, durability, and performance. The buyer would also need to consider the cost of materials and ensure that the price of the jacket is in line with the brand's pricing strategy. The buyer would also be responsible for working with the production team to ensure that the product is manufactured efficiently, and using sustainable and ethical practices. The buyer would need to negotiate with suppliers to ensure that the materials are delivered on time and to the required quality standards.
4.2 Design Process
The design process of the tweed collarless jacket at Gucci would involve several steps. The design team would start by researching current fashion trends, as well as Gucci's past designs, to gather inspiration and ideas for the jacket. They would also consider the target market and the brand's overall design strategy. Once the team has a clear idea of the design direction, they would create initial sketches of the jacket, exploring different styles, shapes, and details. These sketches would be used to develop the design concept further and refine the final design.
Upon the finalization of the design, the team would create detailed design specifications that outline the jacket's key features, including the fabric, color, size, and construction. These specifications would be used to guide the production process and ensure that the final product meets the design requirements. With the design specifications in hand, the team would create a sample of the jacket to test its fit, durability, and overall quality. The sample would be reviewed by the design team and tested to ensure that it meets the brand's quality standards. Once the sample has been approved, the production team would begin manufacturing the jacket. They would follow the design specifications and use high-quality materials and ethical production practices to create the final product.
4.3 What Makes a Successful Design Process?
A successful design process is essential for creating a high-quality product that meets the brand's standards and resonates with the target market. Each stage of the process is important, and failure to complete each stage successfully can result in a variety of issues that can impact the success of the final product.
For a design process to be considered successful, it should start with clear goals and objectives that align with the brand's strategy and target market. This ensures that the final product meets the brand's objectives and resonates with its audience. Throughout the process, it is important to ensure that collaboration and communication are maintained (Segonds et al., 2014). Effective collaboration and communication among the design team, buyer, production team, and other stakeholders are essential for a successful process. Clear communication ensures that everyone is on the same page and can address any issues or concerns that arise throughout the process.
Further, the design team should pay attention to the details throughout the process to create a high-quality product. This includes careful consideration of the design, materials, construction, and finishing details. Notably, the use of testing and validation is essential in making sure that the product meets the quality standards (McClure & Bartuska, 2011). Testing and validation also make sure that the product remains relevant to the target market.
Notably, failure in the design or production process in form of an improperly executed process or rushed process is likely to lead to the generation of poor-quality products at the expense of the brand's reputation. In addition to poor quality, a poorly managed design process can result in cost overruns that can hurt the profitability of the company and the financial performance of the company. The improper management of the design process could also lead to missed deadlines. Also, If the design process does not consider the target market's preferences and trends, the final product may not resonate with customers and may not sell well (Birtwistle et al. 2003).
5.0 Range Build
Range building is the process of determining the product range in terms of variations such as color, size, and other product attributes. In the case of the Gucci Tweed Collarless Jacket, the color option is limited to ivory. However, the range-building process still applies in terms of size variations. The brand needed to consider the size variations that are most relevant to its target market. The process is essential as it ensures that the product range meets the needs of the target market and maximizes sales potential. Customers have different preferences and need when it comes to product variations such as size and color. Completing the range-build process effectively ensures that the product range meets the needs and preferences of the target market, which can result in higher customer satisfaction and loyalty (Rowley, 2009). In the same vein, offering a variety of sizes and color options increases the chances of a customer finding a product that meets their needs, which can lead to increased sales and revenue. A well-built range can also help to reduce excess inventory and minimize the risk of stockouts.
5.1 What Makes a Successful Range Build?
To complete a successful range build, there is a need for a deep understanding of the target market coupled with careful planning and execution. The range-building process starts with a clear understanding of the target market's preferences, needs, and buying habits. This includes understanding the size and color preferences of the target market, as well as any other product attributes that are important to them. To this end, market ...