Week 10 BOC: Exercise

Ben Sander branded himself as Brini Maxwell. How would you create your own personal brand? What would your logo be? How would you design business cards? What would your theme song be? What would you sell? And who would your target audience be? Finally where would you show your brand? On television, in a store, or on the internet? Write and design a project that reflects the ideas of developing your own personal brand. Use the previous questions as an outline.

Week 9 BOC: Most Expensive Real Estate Transaction Ever Made

Inditex, a Spanish corporation, recently made the largest retail deal in Manhattan at 666 Fifth Avenue. They spent $324 million, about $8,361 per square foot. This space will be made into a 39,000 square foot flagship store for the Zara retail chain, adding to the 7 other Manhattan store locations already in business. The decision to buy rather than to lease was based on the rates of Fifth Avenue property and the increases that would equal a 15 year lease on the area. Thus it saved the company money by buying the property. On Wednesday, the company is launching its online sales website in the U.S. The company only has 49 stores nationwide, so why spend so much on a huge flagship in a city that already has 7 stores? This is the nation’s fashion capital and the company wants retailers to know they mean business. This is just another example of how globalization is working its way into every aspect of the world’s economy. It’s expected that the company is going to end up making most of its revenue from online sales. Last year Inditex roughly made $353 million from its U.S. locations, a small chunk compared to the 12.5 billion Euros in global sales. This purchase is an important step to those in the fashion and retail industry because it’s a foreign company taking over a large amount of domestic retail sales. They are competing directly with American companies like Gap on price and style of clothes. The manufacturing and production all happens outside of the U.S. and as more and more international companies move into large retail positions in this country, it will inevitably keep affecting the domestic economy. The company’s fast turnaround of conception to production and delivery as an advantage when it comes to showing more profit than its H&M and Gap competitors. The control over inventory makes it possible for Zara to ship twice a week to stores and easily deliver packages to online shoppers.

(http://online.wsj.com/article/SB10001424053111903895904576546651628934210.html?KEYWORDS=Inditex)

Week 8 BOC: Trend Forecasting

Trend forecasting is an important part in creating a new brand. The brand will have to reflect current trends and styles in order to be successful. With every season comes new color palettes that can be seen in every store all over the country. I can't say if it's the same way in other countries because I haven't been, but judging by the industry accepted publications and international magazines I have looked at, this practice is widely accepted in all modern societies where fashion is the least bit important. When it comes to trend forecasting, noticing the world around you is the most important thing. In order to be an innovator in the fashion culture you have to pick up on the smallest details that could turn into a whole new style. A certain color that looks different from anything that has been in stores in as long as you can remember or a shape that could be transformed into a new silhouette are examples of something that would deeply impact the fashion industry as a whole. Forecasters take it upon themselves to tell the rest of the world what is popular and what is fashionable. The designers all look to these forecasters before they design the next season's merchandise. That's why so many things look the same from one label to another. A good forecaster will have been paying attention to the look as it changes over time in order to predict weather a trend will become a classic or fall into oblivion. The role of a fashion forecaster is challenging yet rewarding. These are the people that set the scene for the next things that everyone will buy and wear for years to come. Fashion generally runs on a cycle with time. Since it is very hard to create something truly original in the fashion industry anymore, people look to the past for inspiration to build on in order to create new trends. Forecasters have to be able to predict where in the past designers should look.

Week 7 BOC: Exercise

How do retailers convey their brand image through their retail stores? Visit a retail store and observe its atmospherics, store marketing, fixtures, customer service, and sales associates. Does the retailer convey a specific brand image to the customer? What is it? Is a story being told? How does the store space influence your opinions about the products being sold?

I visited Betsey Johnson. The whole store screams Betsey from the floors to the ceilings, everything is in the motif of the clothes. The music is as loud as the patterns and colors and all of the associates are sporting the clothes.

Week 6 BOC: How Can Jeans Cost $300?

Jeans are worn by billionaires and homeless people alike. They have been around for 150 years and are more popular than ever today. People not only wear them as an everyday item, but to formal functions and on the red carpet. “If you’re buying high-end jeans, you’re paying for the fit, fabric, and finish. Every little detail affects the overall price. The most obvious factor is the pure fabric cost. For jeans that sell for, say, $39, [the designer] is spending around $2.50 to $3 per yard in fabric, whereas premium fabrics go for $8 to $12 a yard. Right there, you’re tripling your costs.” (http://nymag.com/fashion/fashionables/70968/) “ For those who want exclusivity, there are custom couture jeans with prices that are even higher. "For the most part our jeans are in the $150 to $225 range, but there are, in designer, some very expensive jeans, and it's because they're highly embellished and have treatments that really bring the price point up," says Colleen Sherin, fashion market director at retailer Saks Fifth Avenue. (http://www.forbes.com/2005/11/29/most-expensive-jeans-cx_sy_1130feat_ls.html) “As with all fashion, a big part of the price of luxury denim is in the multiple profit margins taken at each level of production. Most any piece of clothing contains parts and services from potentially dozens of providers: from fabric and button makers, to designers and seamstresses, and wholesalers and sales agents. After all this, designers and retailers say the typical retail markup on all fashion items, including jeans, ranges from 2.2 to 2.6 times cost.” (http://atlantapost.com/2011/07/08/why-jeans-cost-so-much-premium-denim-makers-justify-markups/) So the high price points on jeans can be blamed on domestic production costs being higher than that of internationally getting the denim made as well as the mark up that the designers make in order to turn a profit.

BOC Week 2: Voice

Fashion is a means of self-expression and a way that people communicate their personalities to others without the need for words. This is one of the reasons I decided to pursue a career in the fashion industry. A culmination of passions for style and knowledge has led me to fashion writing and marketing. From experience I know that looking one’s best is the only way to achieve success, whether that be professionally or socially. The total look is not only important in personal appearance but also in the quality of work I put my name on. Examining the marketplace for the newest trends and staying current with up and coming designers keeps my work fresh and relevant. Understanding the pace of the fashion industry and the standards that have been set with publications like Women's Wear Daily keeps me ahead of the curve. In an age where everyone is an authority on fashion and can make their voice heard in numerous fashion blogs, I eventually hope that my writing will inspire and inform my audience of the importance of fashion in today’s society and how to utilize all the tools and style options that are available today.

BOC Week 1: Slip Slop Slap

The American Cancer Society suggests following a simple slogan of Slip, Slop, Slap when spending time in the sun. First, slip on a shirt. Wearing a long sleeve shirt is best, but a short sleeve shirt will also assist in protection. Remember to apply sunscreen under the shirt because rays can still penetrate. Next, slop on sunscreen. Furthermore, slap on a hat. (http://www.med.navy.mil/sites/nhrota/InTheNews/Pages/Slip,Slop,Slap,ForSunSafety.aspx) The Anti-Cancer Council of Victoria has been running sun protection programs for more than 20 years: Slip! Slop! Slap! from 1980 to 1988 and SunSmart from 1988 to the present. The Victorian Health Promotion Foundation has provided funding for the SunSmart program for the past 13 years. These programs have played an important role in changing the whole society’s approach to the sun and have resulted in marked reductions in sun exposure. (http://heb.sagepub.com/content/28/3/290.short) This one slogan revolutionized the company and gave them international recognition. One of the most successful health campaigns in Australia’s history was launched by Cancer Council Australia in 1981. Sid the seagull, wearing board shorts, t-shirt and a hat, tap-danced his way across our TV screens singing a catchy jingle to remind us of three easy ways of protecting against skin cancer. In 2007, the slogan was updated to Slip Slop Slap Seek Slide to reflect the importance of seeking shade and sliding on wrap around sunglasses to prevent sun damage. (http://www.cancer.org.au/cancersmartlifestyle/SunSmart/Campaignsandevents/SlipSlopSlapSeekSlide.htm) The importance of this advertising was that it was something that the people of Australia could identify with and it would help them to remember how to stay protected from the sun. They could have just told the people that they would get skin cancer and die but that would not have been effective.