The Buying Cycle for Brides de Gala

BUYING PROCESS FOR BRIDES DE GALA
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Table of Contents 1.0      Abstract 3 2.0 Introduction. 4 3.0 Strategy. 4 3.1 Current Trends. 4 3.2 Trend Inspiration. 4 3.3 Customer Profile. 6 3.4 Competitor Activity. 7 3.5 Price Architecture. 7 4.0 Design Development 8 4.1 Designer’s Role. 8 4.2 Design Process. 9 5.0 Range Build. 9 6.0 Selection. 10 7.0 Order Placement 10 8.0 Critical Path Management 11 9.0 Production. 12 9.1 Sampling. 12 9.2 Quality Control 12 10.0 Delivery. 13 11.0 Launch. 14 12.0 The Future of Fashion Retail and Sourcing. 16 12.1 Future Trends. 16 12.2 Sourcing. 17 13.0 Final Analysis. 17 14.0 Conclusion. 18
1 Abstract
This report examines the application of the buying cycle to the production of an embroidered coat for the Hermes UK store. The report explores the various stages of the buying cycle, including product selection, order placement, production, quality control, delivery, and launch. The report also considers the potential challenges and areas for improvement in the buying process, such as communication between stakeholders, accurate record-keeping, and efficient delivery. Through this analysis, the report provides insights into the complexities of producing high-quality luxury fashion items and offers recommendations for optimizing the buying cycle for future production cycles.
Figure 1: "Brides de Gala" Embroidered Coat (Hermes, 2023).
2.0 Introduction
The fashion industry is a highly competitive and dynamic market where retailers such as Hermes must continuously strategize and innovate to stay ahead of their competitors. One of the key factors to their success is their ability to deliver the right product, at the right time, and the right price. To achieve this, fashion retailers follow a logical cycle known as the buying cycle, which is composed of nine critical steps. In this report, we will analyze and evaluate the product "Brides De Gala embroidered coat" offered by the Hermes UK store, and the retailer's effectiveness in executing each of the nine steps of the buying cycle. By evaluating the product and the retailer's strategies, we will provide insights into the effectiveness of their supply chain and identify potential areas for improvement. Through this analysis, we aim to provide a comprehensive assessment of the Hermes UK store's performance and its ability to remain competitive in the fast-paced fashion industry.
3.0 Strategy
3.1 Current Trends
The Coats and Jacket segment remains one of the biggest fashion segments that is expected to continue expanding with time. Statistica (2023) values the United Kingdom’s coats and jackets segment to be worth £2.44 billion in 2023 and expected it to continue growing by an average of 1.51 percent for the next five years.
For the Brides De Gala embroidered coat, the designers must review current trends for coats to ensure that the product aligns with the current fashion trends and customer demand. Embroidery is a timeless trend that has been used in fashion for centuries. Adams (2022) observes that there has been a significant resurgence in the use of embroidery in the fashion world among high-end designers as well a...