Menswear Dominance in Fashion Market

Introduction

The fashion industry is one of the most competitive markets in the world (Sleigh, 2018). There are various aspects of this sector and is largely categorised into two parts – menswear and women’s wear. Due to recent developments and trends in the sector, various changes have been observed in the sector. One of the most prominent developments has been in regards to the increasing popularity of menswear products. In fact, the sales performance of menswear is more than that of the womenswear (Isabel , 2017). In this report, a thorough analysis of the fashion industry from the viewpoint of menswear for Chloe, one of the leading fashion brands has been presented. The main purpose of this report is to conduct an extensive analysis of the market for the new collection of menswear for Spring/Summer 2020 (SS20) season.

Research Methodology Table

In the context of the current report, the aspect of research methodology is very important. It highlights the various tools that have been used to collect and analyse the data. Through this section, the researcher can determine the best course of action, thereby enhancing the overall quality and effectiveness of the research report. In the following table tools (both primary and secondary) have been discussed for collecting the relevant data for the research topic.

Brand

In the following paragraphs, a thorough analysis of the cited company, i.e. Chloe, has been presented.

Company Overview

Chloe is one of the leading brands in the fashion industry. The company was founded in 1952, and since then it has acquired major success. Since its establishment, the firm has enjoyed significant success in the fashion market and is also considered as a ‘trendsetter’. Today it is the subsidiary of Richmond, a luxury goods company based out of Switzerland (Neuville, 2014). Chloe essentially is a French company and thus also has significant roots in the industry, as France is considered as a hub for all fashion related activities.

Brand Identity

Since the fashion industry is extremely important, it forms the base on which the companies can improve their performance and make their operations more sustainable. Essentially, the very concept of brand identity becomes integral in all functioning of Chloe (Neuville, 2014). The company is recognised as one of the ‘trendsetters’ in the fashion industry. Customers perceive the company as a provider of high-quality clothes at the best prices possible. In this regard, Chloe has been positioned as a competitive brand with a focus on the quality of the products and customer satisfaction. On this basis, it may also not be wrong to say that the company is one of the leading brands in terms of customer satisfaction and loyalty rates (Hoffman, 2012).

Competitor Analysis

There are a number of companies that Chloe has to directly compete with. Due to this reason, it is very difficult for the firm to get a strong foothold in the industry and be able to enhance its operations as well as performance. One of the biggest competitors of Chloe is Louis Vuitton, a company which was founded in 1854 and today is the leading brand name in the industry (Couteulx, 2016). Similarly, Celine is also another major brand that Chloe has to compete with. The company is now owned by LVMH and is run by the now previous creative director of Chloe, which makes it an even bigger threat to the cited company. Following is a positioning map for the company.

Analysis of the menswear competitor collections

One of the biggest competitors of Chloe in the menswear collection is Marks & Spencer (M&S), which was established in 1884. Today M&S is a leading brand name in the category of menswear fashion products. For Chloe is M&S is the biggest competitor, as the company has to compete with M&S at every front such as market share, financial performance, customer attraction and loyalty rate, and many other aspects (Hoffman & Storemark, 2011). Similarly, Burberry is also a major competitor for Chloe in the menswear segment. It has been observed that the majority of male customers tend to buy fashion products from Burberry, as they consider it as a more trustworthy brand (Michael, 2017). Jaquemus, a French brand can also be a major competitor for Chloe.

Target market

In the context of the current scenario, the target market for Chloe will be the men looking to buy high-quality fashion clothing items and accessories at a reasonable rate. This indicates that the primary segment of the customers for Chloe will be a combination of demographic and behavioural segments (Yang, Yiping, & Siliang, 2017). Herein the company will have to target the customers who do not want to spend too much on clothing but want high-quality items, along with being in the prime of their age, i.e. between 25 to 50 years of age.

DESIGN PROCESS

Theme Concept

It has been predicted that the men’s fashion wear will, by the end of the year 2020 will surpass the women’s clothing sector (Island, 2019). The new collection will focus on the spring/summer 2020 season, as it has been expected that by this time, the menswear sector will be more valuable than the women’s clothing sector. Due to this reason, it can be expected that a firm such as Chloe by introducing a new line of clothing can take advantage of this opportunity and improve its performance as well as sustainability in the market. The following image shows the theme for the new line-up. Herein, the focus will be on ‘minimal style clothing’, yet which looks ‘timeless’ and ‘classic’. Essentially, these are some of the key features that men look for while buying clothes (Neuville, 2014).

Tailoring was back – and in a major manner – in London, Milan and Paris. Of course, there were a lot of lovely suits at the usual suspects (Canali, Corneliani, Ermenegildo Zegna), however even the more outré brands fiddled with fitting. The whole Comme des Garçons show was a vanguard considering on the suit, Charles Jeffrey Loverboy demonstrated a few custom-made two-pieces and even the ruler of streetwear, Virgil Abloh tossed in a suit or two into his debut gathering for Louis Vuitton. The richest of the considerable number of accumulations, nonetheless, was Kim Jones' couture-roused trip for Dior (Sari & Nabila, 2019). Denim is seemingly the most exemplary design pattern ever—so it is little shock it is staying around for 2019. In spite of the fact that numerous men settle on a darker wash (as we so relevantly noted previously), exchanging up shades for lighter washes is formally the move in the New Year. As per Henninger (2016), looks for "light washed denim" are up 70 per cent. Vintage watches are too chic, paying little respect to sexual orientation—and they are making a genuine rebound in 2019. As per Pinterest, scans for "vintage watches" are up 98 per cent. From Rolex to Chopard, these timepieces fill in as friendly exchanges, proclamation making extras.

Mood board

From the following image of the mood board, it can be identified that the new clothing line up will focus on minimalistic style while keeping the looks as simple and clean as possible.

Colour Board

The colours will be simple yet modern so that the male customers feel comfortable yet professional enough.

Fabrics and print charts

Following is a chart for fabrics to be used in the new line-up.

Menswear offer

Pyramid Range plan

PRODUCTION

Sustainability

Today, one of the most important aspects is regarding sustainability and sustainable production. It has often been observed that the fashion industry produces a lot of waste, i.e. a lot of raw material is wasted (Oxborrow, 2017). Considering this, Chloe will take precautions to ensure that the raw materials are used in a proper way and are not wasted, rather recycled or reused. Apart from this, the company will also focus on determining ways to repurpose and reuse old products. It will further help in its sustainability initiatives and thereby result in the enhancement of quality of a firm’s operations as well as market image. Careful steps will be taken to ensure that animal skin or animal products are not used in producing clothing items. Ensuring the efficient use of natural resources like land, water, energy, soil, animals, biodiversity, ecosystem and other such aspect, will help in the sustainable production of the clothing items (Pedersen, 2015).

Sourcing

The materials used in producing the clothes will be sourced from both local as well as international dealers. Some of the items, which will be required on a frequent basis, will be procured from local suppliers. This will enable the company to continue the production process while ensuring the quality of the materials as well as the finished products. Apart from this, Chloe will also procure some of the materials from international destinations, especially the ones which are not required on a frequent basis (Ritch, 2015). The main advantage of such approach is that it will help in keeping the costs low while ensuring that the materials, as well as the end products, are of the best quality standards.

Production

During the production process, the management will be wary of the fact that they need to keep the costs low while ensuring the high quality of the end products. In this regard, the company will use the latest tools and machinery so as to not only keep the production costs low but also to maintain the quality standards (Ozdamar, 2015). This will enhance the overall capabilities of the company, thereby helping in making the new line up successful and improving the firm’s overall performance as well.

Distribution

The products will be sold mainly through Chloe’s own retail outlets. This means that they will primarily be available through in-store sales. However, the company will also sell the products through e-commerce on its own website. This will enhance the reach of the firm among the target customers by a great margin (Moon, 2017).

CRITICAL PATH

The following paragraph shows the critical path for launch of the new clothing line up for Spring/Summer Collection of Menswear for Chloe. Herein, aspects such as time taken for producing the clothes, their delivery in the store, launch and inauguration, etc. all have been taken into consideration.

Supply Chain Strategy

CONCLUSION

In this report, a thorough analysis of the fashion industry from the viewpoint of menswear for Chloe, one of the leading fashion brands has been presented. Chloe is one of the leading brands in the fashion industry. The company was founded in 1952, and since then it has acquired major success. The company is recognised as one of the ‘trendsetters’ in the fashion industry. Customers perceive the company as a provider of high-quality clothes at the best prices possible. In this regard, Chloe has been positioned as a competitive brand with a focus on the quality of the products and customer satisfaction.

RECOMMENDATIONS

One of the key recommendations for the company will be to procure the raw materials from appropriate sources so that the firm can contribute more towards safeguarding the natural environment. Herein it can also be said that the firm will need to use the latest technology machines and tools so that the production process can be optimised and the company can achieve its targets with ease and comfort.

REFERENCES

Henninger, C. (2016). What is a sustainable fashion?. journal of Fashion Marketing and Management: An International Journal, 400-416.

Moon, K. (2017). Key drivers of an agile, collaborative, fast fashion supply chain: Dongdaemun fashion market. Journal of Fashion Marketing and Management: An International Journal , 278-297.

Oxborrow, H. (2017). Managing sustainability in the fashion business: exploring challenges in product development for clothing longevity. Global Fashion Management Conference, 376-381.

Ozdamar, E. (2015). Sustainable markets: Motivating factors, barriers, and remedies for mobilization of slow fashion. Journal of Macromarketing, 53-69.

Pedersen, E. R. (2015). Collaborative consumption: business model opportunities and barriers for fashion libraries. Journal of Fashion Marketing and Management, 258-273.

Ritch, E. (2015). Consumers interpreting sustainability: moving beyond food to fashion. International Journal of Retail & Distribution Management, 1162-1181.

Sari, R. P., & Nabila, A. (2019). New product development-processes in the fashion industry: Evidence from Indonesian Islamic fashion companies. journal of Islamic Marketing, 66-72.

Yang, S., Yiping, S., & Siliang, T. (2017). Sustainable retailing in the fashion industry: A systematic literature review. Sustainability, 1266.