Buying Process of the Gucci Collarless Tweed Jacket

BUYING PROCESS
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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 o...