PDF Presentation Settefili - Team 16 Chupito
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Transcript of PDF Presentation Settefili - Team 16 Chupito
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SettefiliCashmere
GROUP 16 – CHUPITO
Eleonora Fanini 1343730 Irina Ghiurova 1237833
Siyi Ma 1571397 KrisGan Marinov 1315910
Carla Valeanu 1315571 Alexandra Zlatanova 1325992
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Market
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Cashmere Industry Overview
RAW MATERIALS • Major Producers: China 75% of world’s total • Largest importers: Italy, United Kingdom, Japan • Largest exporters: Mongolia, Kazakhstan, Belgium, Turkey
MARKET TRENDS • A shrinking industry, while demand in China is increasing • Increasing prices and scarcity of raw materials • Growing demand for Label standards
CASHMERE PRODUCTS • Italy: leader in luxury cashmere market • China: a low-‐end market; expectaLons of cooperaLon
with Italian designers in the years to follow
COMPETITORS • Direct: Loro Piana and Brunello Cucinelli + small cashmere bouLque • Indirect: Renowned luxury companies (Gucci, Louis VuiSon, Prada)
SettefiliCashmere
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Desires
• Comfortable, long-‐lasLng and high quality fabrics
• Unique design and style • FuncLonal website with nice design
Qualita<ve Research: 12 In-‐depth Interviews
Target Male, age 20-‐40 and age 40+ High income ($50,000 – $150,000 yearly) Intelligent, confident, classy, art-‐conscious
SettefiliCashmere
Target and Qualitative Research
It is not who makes it,
but how it is made! “ ”
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SettefiliCashmere
Strategic Approach
7
Italianità
Discreetness
Uniqueness
Intellect Quality
Nature
CraFsmanship
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Settefili
v Italian heritage v High quality products v Family company v Hand-‐made products v Transparent structure v No outsourcing v Unique designs
SettefiliCashmere
v Low brand awareness v Poor distribuLon v Low capital v Weak communicaLon v Low funcLonality of the website v Lack of accessibility to company
representaLves
v Penetrate new markets (Chinese) v Increase visibility and loyalty v Enhance brand image v Develop further womenswear and
accessories line v Website development v Presence at Cashmere events
v Dominance of Chinese suppliers v Strong compeLLon among Italian
cashmere companies v Strong visibility of renowned luxury
brands v Cultural and economic barriers v Increasing raw material prices
Strengths
SWOT Analysis
Weaknesses
Opportunities Threats
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SettefiliCashmere
Focus on China – Why?
v Second largest market world for luxury goods
v PotenLal to become the largest market as early as the end of 2012
v In 2010, sales of cashmere goods increased by more than 30%
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Chinese Culture
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Consumer Culture and Trends in China
SettefiliCashmere
v Standing out, while fieng in v Curiosity regarding foreign cultures v High EffecLveness of EmoLonal MarkeLng v High reliance on online purchases and social media
WESTERN INFLUENCES
TRADITIONAL VALUES
SOCIALIST SYSTEM
A Mel<ng Pot Culture
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PresLge; dignity; honor; respect; status Importance of public display Standing out while fieng in
Mian Zi (Face)
“Made in Italy”
“Gil giving is an art”
Business Giling
“… Especially Chinese (consumers), who are ready to pay high price tags for a genuine brand that mirrors the culture of our product” (Michele Tronconi, president of SistemaModa Italia)
“A way by which Chinese consumer overcome the internal conflicts between discreetness and luxury aetude.” (Pierre X ao LU)
Particularities of the Chinese Consumer Culture
28% 36%
11% 8%
Main Chinese ciLes Secondary Chinese ciLes
Hong Kong Taiwan
Percentage of business giFs out of total luxury goods acquisi<ons 2011
Source: Analysis by Accenture on KPMG data, “Luxury experiences in China”, 2011
SettefiliCashmere
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Chinese Individual Conflicts in Consumption
SeQefili’s discreet and clear designs
Opportunity to customize a product and its packaging on SeQefili’s website
SettefiliCashmere
VS
Frugal opposed to extravagant lifestyle
Desire for consumer involvement in producLon process
Demand for discreetly designed products -‐ no overt display brand logos
Fashionable Mainstream
Exclusive Niche
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Intercultural Conflicts and Solutions
SettefiliCashmere
A warm wish (e.g. woaini) inscribed on SeQefili’s product packaging
An introduc<on of a cultural mo<ve -‐collabora<on with local ar<sts, who adds a detail to the products
EMERGING CULTURAL CONFLICTS v Possible disturbance of local
culture
FAMILY -‐ EXPRESSING LOVE v Italy: explicitly; customary v China: not linguisLcally, implicitly
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Boutique Level Initiatives
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Catalogue
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Where v BouLques in the Luxury shopping centers (e.g. The MixC Shenzhen) v Airport bouLques, (e.g. in Beijing, HongKong and Shanghai)
Mo<ves v Contact distributors (crucial for development of the company)
Objec<ves v Reaching a large distribuLon
network in a cost-‐effecLve way v PromoLng brand values and
brand image effecLvely v Nurturing a relaLonship with
potenLal buyers for the future v Increasing visibility at the
bouLque level
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SettefiliCashmere
Catalogue (2) Core Values
Sensual and Visual Experience
Story around number “7” and ProducLon Process
Website Contact Info and DistribuLon Map
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Hong Kong – Cashmere World Fair
SettefiliCashmere
25 – 27 September 2013
MOTIVES v The biggest cashmere event in the
world, where only leaders in the industry are present
OBJECTIVES v Increase Brand Awareness v Get in touch with new trends v Meet exisLng customers v Capture new buyers (both B2B, B2C) v Connect with new suppliers/
distributors v Benchmark compeLtors
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Consumer Level Initiatives
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SettefiliCashmere
Why a giF box? v Gil giving – deeply rooted in Chinese culture v Habit of expressing love through acLons v Curiosity and aSracLveness around “Made in Italy”
Objec<ves v Increase Brand Awareness v Communicate: “Made in Italy”
and a presLgious image v Box collecLng for decoraLon
Gift Box – “Gift giving is art”
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SettefiliCashmere
Gadgets
Small size
v Given to visitors of bouLques v “Made in Italy” label v “given with love” v 7 versions with core values
Objec<ves v Brand loyalty, awareness, equity v Enhancing luxurious brand image v Reminder of the brand (website link)
Chinese consumers are: v Gadget collectors v Impacted by EmoLonal MarkeLng v Curious
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SettefiliCashmere
Collaboration with Local Artists
Cultural detail introduced by a Chinese arLst
Subtle introducKon of the “Italianità” by adapKng it to the
Chinese culture, while solving any emerging intercultural conflicts
Personalized
Need of “Standing out , while fiRng in”
Support of the local culture
Marginally broadening the design variety
Unique
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Collaboration with Companies
Approaching companies with employees fiTng SeUefili’s target: Architecture companies
(e.g. Wong & Ouyang Group or Massimiliano Fuksas Group )
Aspects v Create purchase incenLves –
discounts for Business gils v Channel future developed line of
accessories
Objec<ves v Increasing sales v Added brand value v Increasing brand visibility and awareness v SeSefili becomes linked to the image of a
renowned, successful business
SettefiliCashmere
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v Increase awareness, becoming more global v Increase brand equity v Increase sales (online) v Consumer behavior monitoring, CRM
SettefiliCashmere
Order + Customize online
SHORT TERM Video presentaLon “Products and Core Values”
Video team and producLon
Comments and Feedback
DistribuLon map
LONG TERM
News about new collecLons/events
Video “CollecLons in CollaboraLon with
ArLsts”
Website Improvements
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Online Customization: Product and Box
Why Customiza<on? v Mian Zi v standing out, while fiRng in
Objec<ves v EmoLonal relaLonship with consumer v Add-‐on customizaLon experience v Gil – more valuable and desirable
SettefiliCashmere
DESIGN
ACCENT
KNITTING PATTERN
PERSONALIZE (opLonal)
COLOUR
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IniLaLve CalculaLon Cost
High-‐quality catalogues 5€ x 200 catalogues 1,000€
Cashmere World Fair approx 400€
Gil Boxes 5€ x 70 boxes x 20 bouLques 7,700€
Gadgets 0.5€ x 1000 gadgets 500€
Website improvement approx 5,000€
Total 13,900€
SettefiliCashmere
Budget
The budget was an important limit to our work
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Thank you!