Opulence Lounge Complete

Running Head: CAPSTONE OPULENCE LOUNGE 1

Opulence Lounge: Helping men continue to be classic!

Shanelle Butler and Quincy Carter

105 W. 10th Street, New York, NY, 10011

Phone Number: 862.704.9805

[email protected]

CAPSTONE OPULENCE LOUNGE

TABLE OF CONTENTS:

Executive Summary……………………………………………………………………...2

Part One: Research Sales and Consumer Behavior…………………..……….…… 3-6Introduction to Opulence Lounge ……………………………………………………....3-5SWOT Analysis …………………………………………………………………………..5Current Business Strategy ……………………………………………..……………… 5-6

Part Two: Demographics/ Psychographics and Consumer Behavior.……..….…... 6-9

Part Three: Fashion Retail Management…………...………………………………9-16Current Structure………………………………………………………………………9-10Competitors, Future, Databases………………………………………………………10-11Visual Merchandising, Promotions, Human Resources, and Marketing Strategies….11-13Marketing and Advertisement……………………………………………………………..3Human Resources……………..…………………………………………………………14Logistics and Interrelationships between retailer and manufacturers………………..14-15Retail Management…………………………………………………………………...15-16

Part Four: Fashion Retail Branding & Promotion………………………..………….16Brand Name and Logo………………………………………………………………..16-17Slogan……………………………………………………………………………………17Membership…………………………………………………...…………………………18

Part Five: Visual Retail Merchandising & Online Strategy……...………………18-24In-Store Visual Component…………………………………………………………..18-22Online Visual Component……………………………………………………………22-24

Part Six: Technology in Fashion Merchandising & Management……………….24-30

Part Seven: Product Development…………………………………………………….30Sourcing Philosophy……………………………………………………………………..30

Part Eight: Marketing the Line Globally……………………………………….…31-34Global Marketplace…………………………………………………………………..31-32Global Market Environment……………………………………………………………..32Entrance to the Global Market………………………………………………………..32-33Global Marketing Plan………………………………………………………………..33-34

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Executive Summary:

In this paper we will analyze the development of Opulence Lounge and the extensions

thereof. This paper also examines the following areas: Sales and Consumer Behavior,

Demographics &Psychographics, Fashion Retail Management, Fashion Retail Branding

and Promotion, Retail Visual Merchandising & Online Strategy, Technology in Fashion

Merchandising & Management, Product Development and Marketing The Line Globally.

This concept embodies a men's retail shop (Opulence Lounge), a barbershop (Dayvid's

Place) and a men's lounge (The Man Cave). This is a new and innovative way to get men

into the market more solidly on the side of retail in fashion as opposed to catering to the

mothers, wives, and girlfriends we cater directly to the men. Founded by Shanelle Butler

and Quincy Carter in 2016 this brand is ever growing. The mission of Opulence Lounge

is to get men to come out to a retail shop where they can get all of their necessities and a

place where they can bond with their sons and friends while creating memories that will

last a lifetime.

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Part One: Research Sales and Consumer Behavior

Introduction to Opulence Lounge:

Often times when it comes to men's products and services they have to go to

several different places in order to get all the things that they need. This new and

innovative idea has come along to help men in that effort and offer everything they need

in one convenient location. Opulence Lounge is a men's retail shop that offers high-end

luxury garments and services that allow for men to come to one convenient location and

commune with other men and shop, lounge and they are allowed to be men together. In

this establishment there will be a retail shop that includes suits, jeans, ties, shoes, leather

goods, and fragrance's that will be provided by various suppliers through our pop-up shop

initiative, a fully functioning shoeshine stand, a fully functioning barbershop and The

Man Cave which is the bar and lounge. What sets Opulence Lounge apart from other

retail shops is the fact that they offer full services to men from start to finish without

having to ever leave that location. This retailer offers full services for men in the areas of

grooming, entertainment, and apparel.

This is a new and innovative way to get men into the market more solidly on the

side of retail in fashion as opposed to catering to the mothers, wives, and girlfriends, we

cater directly to the men. Founded by Shanelle Butler and Quincy Carter in 2016, this

retailer is ever-growing. There is currently no history associated with the retailer as of

now due to it being something new in the market that offers all of these services in one

location. This is a publicly held organization, which allows for the brand to be traded

with stocks and shares to individuals who are seeking interest in the company. The

mission of Opulence Lounge is to get men to come out to a retail shop where they can

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get all of their necessities and a place where they can bond with their sons and friends

while creating memories that will last a lifetime. The retailer will have goods from

several high end men's designers that we offer at the shop along with a private label that

we offer in which custom suits can be created.

In speaking to several different men, one of the most interesting things found was

the fact that men do not like shopping and going to a multitude of places to get the things

that they need for an outing or just in general. As such, the vision for Opulence Lounge

is to get men to come in to a place that is comfortable for them where it is a one stop shop

that they can not only shop in peace but also have a place for them to grab drinks with

their buddies after a long and tiring day of work. The ideal consumer for this retail shop

would men who are Millennials, and they enjoy the finer things in life. The short term

goals for the brand is to constantly bring in new customers on a weekly basis and offer

our customers memberships that will better ensure a steady clientele at the lounge in our

flagship in New York City. In the long-term however, the goal is to expand to various

major cities where we can offer these same services but have them tailored to that

particular region on the global scale.

As previously stated, the products that we will offer will include men's suits,

shoes, accessories (neckties, bowties, socks, belts, cufflinks, scarves, sunglasses, jewelry,

hats and bags), jeans, coats, shirts, and leather goods like wallets, jackets, hats and belts.

In regards to services, we will offer, shoeshine services, the barbershop Dayvid's Place,

which will offer haircuts, shaving, styling, dying, facials, and various skin treatments.

The individual who brought the concept for Dayvid's Place to the attention of Butler and

Carter to see how far they could take the concept inspired the name. The Man Cave is

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the bar and lounge where men meet to commune and have cigars and beers. Due to

membership to this elite and upscale retailer, and the services offered from the

barbershop, shoeshine and the lounge this will constantly generate the funds needed for

the brand.

SWOT Analysis:

STRENGTHS:

Original idea No one currently offers a full

service men's shop on this scale Exclusive offers on products and

services It’s a one stop shop for men Bespoke suits Partnership with exclusive brands

on their products

WEAKNESSES:

First brand to offer these services all in one

There is room for error because of its originality

OPPORTUNITIES:

Growth in the market of men's retail shops

Offer things that no other brand offers

Ability to easily sway individuals to purchase memberships

Ability to publicly trade shares of the company to get more people involved with this great concept

THREATS:

Other brands will be created after initial

Consumers might be skeptical about the brand

Fear of a new product on the market Location

Figure 1.0: Above you will find a SWOT Analysis of Opulence Lounge and some of the things that might occur with the brand that might promote or take away from the brand.

Current Business Strategy:

In the aforementioned section of the "Introduction to Opulence Lounge", we state

that this is publicly traded company, which allows for stockholders to be involved in the

business along with membership opportunities, and the products that we offer to our

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clientele. One of our biggest competitors would be Urban Outfitters on 35th and

Broadway. The location offers a salon and retail shop. Although it doesn’t offer what

Opulence Lounge offers, it is probably the closest thing that meets the level of our brand

on a lower scale. The uniqueness of this brand comes from its uncompromising sectors

that help in making it a one-stop shop for men. This is not just a retail shop but also a

place where men can come and convene with one another and have a great time. This is a

place that allows for men to come and buy clothes, have their shoes shined, have drinks

and cigars with their buddies and even just relax away from the daily rituals of life.

Some of the critical success factors for Opulence Lounge are that we offer exclusive

products and services to our consumers, its original idea. No one currently offers a full

service men's shop on this scale, it’s a one-stop shop for men and bespoke suits are apart

of our critical success factors for our company.

Part Two: Demographics/ Psychographics and Consumer Behavior

The target market that Opulence Lounge is catering to is the underserved sector of

"Millennial Men". This segmentation for this allotted group is very dense in reference to

the potential and the disposable income they have to offer the industries. Nick Graham, in

his article named “Think Tank: Men Are The New Women” (WWD, 2013), illustrates

that men are turning more closely to being more self-sufficient in their mannerisms,

clothing selections and expression of themselves. “ It’s the Darwinian evolution that men

are going through- crawling out of the primordial mud of tradition, moving toward an

oxygenated world of choices about how we want to represent ourselves as our personal

brand. It’s time we gave our webbed toes a pedicure”. Menswear has surprisingly taken

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the fashion industry by storm with a $60 billion addition to the aggregate sales

(www.wwd.com/globenews). The New York Times showed that last December, men’s

suits sales will increase 10%, sports jackets 11% and womenswear will not have a

difference. Taking into consideration the movement of customer and retailer

relationships, there is a tremendous need for a change in the emotional attachment for

purchasing products and being loyal to a specific brand.

The psychographics of this group has been researched by Mintel, where the

results are very interesting and not of a known status. According to a study in 2016, 66%

of this segment considers themselves at least somewhat stylish. They don’t like to be

categorized as fashionable because of the connotation that is correlated with this feminine

term. As the study continues, it informs that for the current year, men in 2016 compared

to 2015, 2014 want to be more unique in their ensembles but are concerned with the

establishments that offer a better variety. With the close-knit arenas of the men's fashion

collections, our lounge is going to start collaborating a plethora of separate ideas into one

element.

Figure 1.1: Men’s attitudes toward style, February 2014 versus January 2016

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http://www.wwd.com/globenews


The chart above was a study conducted by academic sector of Mintel, where they

did a focus group on the millennial men, and these were their findings with men in this

target market. Opulence Lounge will be that retailer that is built on differentiation and a

competitive advantage that will enable us to enter the market with an essential presence.

Adding value to their visits is where this target market feels needs to be captured by the

retailers that they currently shop with.

The Global Market Information Database states that "men aged 25-34 plan on

spending more on clothing (60%) shop high - end retailers (26%) consider themselves

stylish (46%) attitudes toward shopping for clothing themselves (54%). With the statistics

of a 5.9% population growth from 2014, this is a great segment to reach out to in

reference to obtaining a loyal customer base and retaining their financial obligations and

being a source of marking in reference to referrals.

Figure 1.2: Men’s clothing shopper segments, January 2016

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Research for the location of the lounge conducted through PRIZM, segments the

area code of NYC 10014. The statistics rendered that this certain location has a lot of

“Young Digerati”. This classification consists of wealthy, but young and middle aged

individuals. The men that reside in this area are very social but at the same time value

quality as well. Their annual income median is $148,000 and they are advent shoppers at

Bloomingdale's and Bergdorf Goodman. They love to travel and watch The IFC; this

gives way to assume they are very intellectual and would achieve to be apart of the elite

markets. The marital status isn't something that is leaning more towards either side, so it

is evenly split amongst the population.

Figure 1.3: Total US retail sales and fan chart forecast of men’s clothing, at current prices, 2010-20

This market is so affluent according to the statistics from Mintel, which illustrates

this segment growing exponentially in the most recent years. Sales of 67.1 billion in 2015

came from menswear, which is 22% increase from 2010. It is believed that by the year

2020, sales will grow between 16-30%, which is in direct correlation with men yearning

to dress more expressionistic and be matchless to their counterparts.

Part Three: Fashion Retail Management

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Current Structure:

The current structure of the men’s fashion industry is growing each day. With the

new provisions and very keen attention to this underserved market, it is one that should

be used to demonstrate how a failing industry can rise and become the most prominent

amongst others. The continuous growth for this industry is included in the statistical

notion that men “have spending power. Varying estimates place this group’s purchasing

power anywhere between $125 billion and $890 billion annually, based on Millennials’

powers of persuasion over their Baby Boomer parents” (Nielson, 2014). As previously

discussed, the men’s fashion industry is projected to increase between 16-30%. This is a

very potential take over segment that should be on the look out in reference to the new

trends and what is being offered from the upcoming designers and boutiques (Mintel

Opulence Lounge has a lot of competition in reference to the catering of men, but not in

comparison to the benefits and services that we are offering in one location. Some of the

competitors are Lisa Kline Men in Los Angeles California, Sebastian’s Closet in Dallas

Texas, Gene Hiller in Sausalito California and lastly, Bergdorf Goodman in NYC. The

latter would be our direct competition especially being in the same state. Lisa Kline Men

is a laid back place where the men’s “inner child” are targeted. Within the location, are

Nintendo game systems, huge televisions, and a full service bar. The district manager,

Erin Friel stated, “ happy hour is every day”. This is a portion of our services but would

be a competitor in reference to a place like “The Man Cave”.

Competitors, Future, Databases:

Sebastian’s Closet actually offers men and women apparel, alongside a wine bar.

This is a place where couples could have a nice time shopping while relaxing with a nice

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glass of wine. This would be a competitor because of the bar aspect but it takes away the

targeting of the men market. This would be one of the lowest competitors in reference to

services and features. Gene Hiller in California however, has a lot of aspects that we don't

offer that could be inclusive in our future plans. This location offers customers a

technology infused shopping experience, which includes a clothing store, and a “digital

valet”, a look-book. Tom Gangitano revealed, “We create a look-book of our client’s

wardrobe so that when he’s at home he knows how to coordinate shirts to tie, jackets to

pants.” Our biggest competitor, Bergdorf Goodman, has a “club-like, old-school style,

offering for its more downtown-inclined customers” (Forbes, 2008). Their established

name allots them the opportunity to sell their men clientele high-end sportswear but also

be able to indulge in a bookstore and music and restaurant bar. This music bar however

turns into an actual club in the nighttime. This would be a very prestigious competitor

because of the location, the apparel and the feel of what we are striving for in Opulence

Lounge.

Visual Merchandising, Promotions, Human Resources, and Marketing Strategies:

When it comes to the retail store operations, there are several important factors

that go into the day-to-day operations of Opulence Lounge. Due to the size of this

particular company, it will take varying operational ideas because of the different

components. In regards to the operations of the actual retail shop, we will have to look at

things such as the workers, the items that we offer and how they are presented, the

cleanliness of the space along with the layout of the store. The barbershop and shoeshine

portion will require us to look at staff, supplies, and cleanliness. Finally the Man Cave

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operations will be centered on bartenders, a full cook staff, and cleaning staff just to

name a few. For all of the aspects a manager will be required however, an overall

supervisor for Opulence Lounge needs to be hired. In regards to visual merchandising for

the retail space one image comes to mind when thinking about how the space should be

set up and what it should look like visually. In London on Savile Row, the retail shops

are spacious with minimal merchandise on display due to the cost of the garments and

what is offered to the clientele. Take for example the movie "Kingsman The Secret

Service", we find that in the shop that they work from, it gives the idea of an upstanding

citizen, who truly finds a love in British Heritage clothing and the culture as a whole.

Figure 1.4: Visual Setup expected for Opulence Lounge

Opulence Lounge is a space for men to come together and not have to search all

over for their essential needs. In this space men are more than welcome to shop for

clothes and other items that allow for them to stay fashionable at all times. They are

invited to be a part of the ever growing popularity of men's fashion with things like the

barbershop and keeping their hair and beards clean and good looking, as well as a place

to get their shoes shined so that the entire physical package is in tact. The essential part to

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things that men enjoy would be the Man Cave. The Man Cave is a space for men to come

and lounge and have drinks (Beer, Premium Alcohol and also Non-Alcohol beverages).

When looking at things like promotions and marketing for Opulence Lounge, it is

a rather simple matter. Individuals who are drawn to this type of company would have to

purchase memberships because of what is offered to our particular clientele. These

consumers would be men who have a certain level of disposable income and who believe

in having the finer things in life. These men aren’t seeking things that are so readily

available to just anyone, these men are seeking the exclusivity of a service and product

that cannot just be offered to anyone. The exclusivity of these products and services is the

reason why these individuals are seeking something that has a membership.

Marketing and Advertisement:

Marketing for this market has to be tailor made much like the products and items

that they purchase. “Millennials are more likely than Gen X or Boomers to hear of whats

going on with companies through social media tools, such as Facebook, Twitter and

blogs. They’re also more likely to trust the information they learn about a company

through social media than information offered elsewhere” (Mintel, 2014). Essentially,

digital marketing and digital confirmation drive them on their purchases. Unlike women,

men tend to spend more shopping in one shopping trip but women like to shop more

frequently. According to an article “How Marketers Can Reach the Millennial Man”, they

spend a lot of time watching videos on the internet, watch less traditional shows, engage

in social networking and like more personalized experiences when they go into a retailer.

The kind of marketing techniques that we will use is social media, personalized loyalist

programs and online streaming campaigns. These methods are those that reach to this

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audience the best because of the over popularity of social acceptance and the influence of

social networking as well.

Human Resources:

In looking at the overall retail shop we are expected to hire 8 individuals for the

retail shop (Store Manager, Assistant Manager, 2 Merchandise Experts, 2 Stylist (Sales

Associates and 2 Visual Merchandisers). The barbershop will require a total of a 4

Barbers. One being the actual manager, a three as full time barbers. The barbershop will

also host the shoeshine location that will have two part-time individuals. The Man Cave

will need 7 individuals, the manager of the space, 3 chefs, and 3 bartenders. We are also

looking to hire a supervisor for the entirety of Opulence Lounge that will make sure

everyone is doing their part and goals are being met. In all sections of the lounge, each

section (retail, barbershop, and Man Cave) will have an expert in some degree most likely

the individuals who will be hired as managers. Depending on experience that will

determine what the pay rate will be for the various jobs being offered. Finally, in regards

to the insurance that will be offered to the employees and insurance for the space we will

require, liability insurance, life insurance for the full time positions (i.e. Opulence

Lounge Supervisor, 3 Managers and the barbers in the barbershop). Flood Insurance, and

medical insurance for all employees who are under Opulence lounge. In total we are

looking to hire 22 individuals for Opulence Lounge.

Logistics and Interrelationships between retailer and manufacturers:

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The interrelationships between the manufacturer and the retailer will be very

streamlined because we will be doing a horizontal distribution strategy. All our products

will be made in house except for those offered in the barbershop and the bar. The

relationship that lies here should be very vigilant but at a point where we have a great

report with one another. Making sure that the wholesaler that we will purchase from is

ethically and socially aware of the new methods that are being offered in both men

beauty and the alcohol business are very important. Our customs and tariffs will not be

something that is an issue because all of our products will be made in the USA and will

be well-established brands that are known and used by the local shops that our clients

would have previously been loyal to. With the establishment of a private label for the

apparel, shoes, leather goods and other items we will be able to keep a minimization of

the outside influence of the wholesalers and the factories that will be constructing our

products. The turnaround time will be minimal because it will be a place where only our

products are being produced and that will decrease the production time and allow us to

make quick requests as well.

Retail Management:

Retail management with our company will be substantial because of the newly

established name and the amount of business we are planning to receive. As put by author

Ira Neimark, a successful buyer in Bergdorf Goodman “she recognized the unit plan

would give additional open-to-buy when being assertive and less open-to-buy when being

conservative - but also set a pace in merchandising strategy for other buyers.” As a new

business competing against the best retailers and department stores, initially our plan

needs to be more aggressive because we are trying to make a name for ourselves and we

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do not want to be short on inventory. Our clientele will be of the upper echelon and we

need to be sure that they are treated as such. As we become more notable as a business

for men’s fashion and other services, we will become conservative in our purchases

because we will now know exactly what the consumers need and what they are

purchasing according to the data received. We will implement a trend forecasting and

retention program within our systems to calculate these changes and the notion behind

our retailing and merchandising strategies.

For the beginning of the season we chose to heighten the amount of shirts we kept

in stores to coincide with bottoms and suits so that they can be mix and match the pieces

from those categories. For this category shirts will remain the same due to men always

wanting multiple shirts in their wardrobe. This section stays steady through the season

because trousers are something that are always sought after and people wear them

throughout the year and often wear them several times before having them cleaned. For

the most part, outerwear remains steady because though the seasons change people are

always seeking outerwear that goes with different seasons and most men would usually

wear some type of sports coat out to various gatherings. Finally, the accessories section

will always have something cool and fun just to keep around because it adds value to

what men are looking for. If it is in their socks, or a bag that they carry these items add to

ones wardrobe and men are constantly seeking these items.

Part Four: Fashion Retail Branding & Promotion

Brand Name and Logo:

In looking at what we are offering to our clientele, Opulence Lounge name came

from the idea and concept of offering impeccable services and products to our clients.

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The Merriam- Webster dictionary defines the term opulence as "things pertaining to or

affiliated with wealth, affluence, abundance, and profusion". The term was used because

of the individuals who we are catering to for this particular brand and what we will offer

them as previously mentioned. The brand name and the logo are two separate things in

regards to the brand because we wanted to use some type of symbol that represents what

we wanted for the brand. In Figure 1.6 you will find the image that was created to

represent Opulence Lounge and the symbol that was created for the brand as well.

Figure 1.5: Opulence Lounge Logo and Name

Slogan: When looking at the brand itself, something that we find is that it completely

establishes and embodies the idea of the classic man and what they represent. As a result

the slogan for the brand is "Opulence Lounge: Helping men continue to be classic!" We

believe that this will come across as promoting the idea and concept of keeping the

classic male image alive. No matter how far one goes back in history, classic men have

always been the individuals who have stood apart from those who may be around him.

The best idea of this would be Leonardo DiCaprio and his portrayal of Gatsby in the

iconic movie "The Great Gatsby". This slogan will be used for both in store and online

advertisement so that the message is fluid and it couples in a way that no matter where

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one looks they know that the brand they see is Opulence Lounge. This concept will flow

as well in our barbershop and in our Man Cave.

Membership:

One of the other aspects of Opulence Lounge would be our membership that we

offer to our consumers. This membership will be implemented as the membership of

things such as Trunk Club, Frank & Oak, and Five Four Club. All men's retailers these

brands allow for men to have items sent to their homes and purchase what it is they want

and send the rest of the products back. Ideally, this is what Opulence Lounge would like

to achieve with our members. By selecting items that we believe works for those

members, we can send it to them and then what they don’t want they can send it back and

this will occur as often as the member sees the need to use it.

Part Five: Visual Retail Merchandising & Online Strategy

In-Store Visual Component:

Within Opulence Lounge, there will be plethora of themes and motifs that will be

expressed through the presentation of our products and services. “ Interior design is an

important factor in making customers buy your products from window display, products

arrangement to lighting Source: (http://www.retailshopdesign.com).” We will not have an

extravagant front window display, as that isn’t appealing for men, rather the experience

inside is what will retain and conquer our consumers. The visual merchandising theme of

the store will be presented in accordance to how a man dresses himself. Males will

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http://www.retailshopdesign.com/


typically put on their under garments and sock first before putting on their suits.

However, the suit is the main object in the dressing process so that suits will be aligned in

a strategic format to showcase different colors and patterns that will be purchased by our

customers. As you continue through the store you will reach the section for the

accessories and add-ons, as we would like to define them as. This will be embellished

with shirt, tie and pocket swatch combinations. When getting into a suit, a man always

wants to make sure that they have a coordinating shirt and tie, to make the ensemble

stand out amongst others. So as a service this process will be assisted by one of our elite

stylist that will be taking monthly courses on the trends and how to combine these

separate products to adjust to the needs and wants of the particular consumer.

As you near the end of the apparel there will thereafter be a subdivision

encompassed with shoes and shoes lace, as well as all the leather goods to complete the

garment preparation. The color scheme of the apparel section will be a classic black, red

and wooden brown theme, which black represents “an assertion of power. Use of black

for statement pieces that will want to draw the eye in. Red symbolizes power and passion.

It can be used to warm up spaces and make them feel more intimate. Brown’s natural

roots give it a relaxing touch. Choose it for rooms when the family gathers and furniture

groupings that will incite conversations (http://www.freshhome.com).” The color black,

which is a prominent color in Opulence Lounge “its been described as the presence of

color and it’s an attention grabber but in a different way than red. Black is described as

elegant and can invoke the feeling of admiration, so it’s very popular to use in prestigious

things (http://www.retailshopdesign.com).”

As the customer leaves the area designated for apparel, shoes and leather goods,

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http://www.retailshopdesign.com/

http://www.freshhome.com/


you will then be guided to the virtual and customer friendly fitting rooms. These rooms

are technologically advanced to meet the needs of our target market. The fitting rooms

are fully equipped with mirrors that can adjust to the different lightings that they may

encounter during a normal day. This includes but is not limited to office light, daylight

and night-light. This is very important in the aspect of making your customers loyal,

because if they can’t adjust their clothing for the multiple activities they have planned for

the day it could be tiresome to find and outfit for each occasion. A lot of Millennials are

into happy hour, after work lounging and just having a good time after a hard day of

work. As a generation, there is a cohesive understanding that there always needs to be a

work/life balance. The Millennials, as expressed by many are very flattered and instantly

engaged when their “issues are resolved immediately without jumping through hoops.

Quality is important, but fast is the new norm. The millennial customer is less brand loyal

than other groups, so to keep them happy, leave lines of communication open in order to

resolve any issues as quickly as possible. Millennial consumers’ attention spans are at an

all-time low. Yet this new group of consumers is now the largest in the U.S., and their

buying power is growing considerably. The millennial consumer is highly independent

and looking for a unique experience. There’s no room in the market for average products

made for average people (http://www.huffingtonpost.com).”

The senses are a vital factor that will affect the mood and the customer buying

aspects as well. When you are faced with certain décor, and atmospherics is it studied

that is could persuade you to purchase or something that isn’t aligned can force you to

leave the establishment. The vision of the store can be seen through the expression of the

visual merchandising and the color theme that was selected. A mix of black and brown

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http://www.huffingtonpost.com/


wooden accents is something that will make the exclusiveness of the Opulence Lounge is

prevalent and astonishing to the eyes of the target market. The smells of the store will a

combination of colognes and beauty products that are being used in the barbershop. The

usage of colognes that is very attractive for this generation is Polo RED, Giorgio Armani,

Versus by Versace, and Polo Black (http://www.faveable.com). According to this this

study, these are the most salable and attractive smells that men wear to attract women.

The lighting will be low and extenuated in certain areas where color is very

important. The use of track lighting is very beneficial in apparel stores, because it doesn’t

add a lot of lighting to the customer on their eyes, but rather it will make the apparel

stand out to them. An emphasis on the pieces that we consider the furthermost trendy and

fashionable will have spotlights that hang from above and illuminate the garment. The

décor of the Opulence Lounge will be very basic and exquisite simultaneously. A few

couches and chairs will be sporadically placed throughout for the convenience of the

male shopper, or his counterparts. As well, there will be a lot of room in the bar and

barbershop to lounge and feel homely. With a prominence on comfortability, the store

will have large signage on the products and signs that lead to the designated areas. Males

do not like to figure out where to go, rather they like to be guided and given the products

at hand. In the same notion, the cash registers will be nonexistent to the customer. Rather,

all employees and stylists will be equipped with iPads that can process credit card

payments and 2 registers will be in the stock room for those using cash instead. The

purchasing process will take place either at the convenience or option of the customer.

As Opulence Lounge would like to stay elite and private, the employees or

“stylists” will have the option of dressing in suits from the store, with a clothing

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http://www.faveable.com/


allowance. The coloring of their suits will need to stay in the darker color range, because

that is what is shown in the top selling retailers that sell men’s clothing. As well, the

barbers in the barbershop will have a uniform look that isn’t conflicting with their job

title. In the bar, the uniformity of all black will be the theme that is displayed amongst the

bartenders and all employees that are selected for this area. Our employees will be trained

immensely on trends, forecasting, customer service, systems and most importantly our

products and the varied body types that they should happenstance. In the hiring process, a

personality test will be given to distinguish the dispositions and temperaments that we

would like to roam our location. The personality of the store will be upbeat, but always

professional. With that notion, our music will be classical, mixed with a combination of

music that is relaxing and soothing for the entire experience of the store. We want to

create a story while the customer is shopping, and a streamlined customer service

experience that doesn’t really require the consumer to make a lot of radical decisions.

Rather, they will be directed with their own personal stylist that will assist them with

their all-inclusive experience of Opulence Lounge.

Online Visual Component:

When it comes to the Opulence Lounge's website, we have made it very easy for

our consumers to operate it. The tabs on the sight include Home, About and Contact. On

the home page the consumers will find three images that slide pass with links on each.

The first image is linked to the new collection from Opulence Lounge and what will be

offered this season from the brand. The second image is linked to Dayvid's Place, which

is the barbershop. Individuals will find the head barber profile along with the products he

and his team uses, and the shoeshine info as well as some of the clients that come into

23


Dayvid's Place to get their hair done. The final image is for The Man Cave. On this page

we find all of the services that are offered in the Man Cave that include the bar, pool

tables, lounge areas, and even cigars. There is nothing else that needs to be considered for

the online experience. When it comes to an app for Opulence Lounge however, the app

will be used for men who are members of the brand to schedule fittings at Opulence

Lounge, appointments at the barbershop and even reserve space at the Man Cave for him

and his buddies.

In regards to social channels, that we will use for the brand they will include

Facebook, Instagram, Twitter, Pinterest and Snapchat. These channels will be used

because they are not only popular but also allow for the brand to explore options this

way. The brand will use its logo that was created in order for it to be displayed on all

social channels. The tone and voice of the social channels will match that of the retail

shop, sticking to the feeling of being a classic man. A majority of the online content will

be customer service oriented because what better way to get new members other than the

word of someone who is apart of the brand and loves it?

The relationship that the brand has with some of its partners allows it for us to

have exclusive items in our shop. So the management and merchandise will be

determined by the brand itself because these items are exclusive and can only be found at

Opulence Lounge. The contact page simply has the contact information for the retail

location along with a message section should someone have questions, comments, or

concerns and also to schedule appointments for the barbershop, fittings with the tailors at

Opulence Lounge or to reserve tables for the Man Cave. On the about page it tells readers

about the brand, the mission of the brand and the products and services offered by the

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brand. Using things such as some of the most famous men's colognes and hair care

product images on the site will help identify with the senses on the site and how they

connect to people individually.

Figure 1.6: Floor Plan for Opulence Lounge and The Man Cave

Figure 1.7: Floor plan for Dayvid's Place

Part Six: Technology in Fashion Merchandising & Management

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The use of Omni channel retailing is very prevalent in the fashion industry and

across all boards nonetheless. As expressed by Kate Abnett in The Business of Fashion

Conference “but unlike music, films or food, fashion is a product many shoppers want to

touch and try on before they buy. The physical fashion store aren’t going away — but it

is changing, as retailers come under pressure to provide consumers with personalized,

data-driven service, and experiences — not just products — across all platforms

(www.businessoffashion.com).” With a streamlined multi-channel functionality, a brand

is capable of captivating more than one target audience and making the process of

purchasing both easier for the consumer and the employees. When all your channels are

cohesive, the customer is more likely to remain loyal. “Channels are disintegrating for

customers. People are watching television and using their tablet at the same time. They

expect the same kind of integration with their shopping experience. Stores who do create

a seamless experience that integrates all different forms of technology, however, can gain

significant customer loyalty (http://www.retailcustomerexperience.com).” Essentially, the

use of the Omni channel retailing and marketing can make the consumers engaged in the

shopping experience and effortlessly increase sales and brand recognition for our

establishment. “All in all, 2016 promises to be the year of unified commerce; a year

where multiple retail channels will work with each other to provide users a seamless,

friction-proof shopping experience (http://www.commercehub.com).” The future of this

technique is overtaking all industries; “in a world of big-box stores and online shopping,

finding the best price is easier than ever for the customers. A store that is perceived as

responsive to customer needs and gives customers easy access to a variety of channels

can differentiate itself in a crowded field. Customer might be willing to pay a little more

26

http://www.commercehub.com/

http://www.retailcustomerexperience.com/

http://www.businessoffashion.com/


for the convenience, and will come back repeatedly, and brands don't have to slice their

profits just to keep up (http://www.retailcustomerexperience.com).”

Opulence Lounge would be using a multichannel retailing method with the brick

and mortar store, online and essentially catalogues for the membership seeking

audiences. All of these approaches to reach our millennial man are used currently but

need to be catered specifically for our exquisite men that enter our creation. “Birth of the

‘channel hopping’ consumer – one who uses online and offline channels alike. With 86%

of shoppers around the world shopping on at least two channels now, channel hopping is

a reality retailer's and brands will have to come to terms with. Extent to which online

platforms and digital content will influence retail purchases will radically expand in the

year ahead. This means your ads should mirror your product catalog, which should reflect

the actual inventory your stores carry (http://www.commercehub.com).” In reference to

process flow and inventory management, Opulence Lounge will purchase according to

demand and target market needs in the current atmosphere. Our strategy will not be based

on bulk or mass-produced stock, but rather be trend oriented and purchased with the

intent to engage the consumers to feed us what they are interested in. Our products will

be coming essentially from a privately owned warehouse for our private label, and from

other retailers to accommodate for our mixed inventory of quality garments. These

processes and inventory stocks will be managed together to create a seamless strategy for

the business. Whether coming from a warehouse or tagging on to existing retailers, we

will enable a sense of unity amongst all aspects of the purchasing, marketing, allocating

and planning departments.

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http://www.commercehub.com/



In that respect, consumers are very independent and would like to do a lot of the

work themselves, with the store experience being simplified and asking for aid when

needed. As a brand, we proud ourselves in self-sufficient clientele, that will have the

backing of experiences and personable sales persons that will be used at their disposal.

“You have to create an experience that people go to, and then they shop,” explains

Norman Roberts, vice president of FRCH Design, which has designed stores for Under

Armour, Macy's and Tiffany & Co. The store of the future must compete with leisure

experiences for a share of the consumer’s valuable free time

(www.businessoffashion.com).” As formerly revealed, our employees will be furnished

with tablets, that will make the purchase process at the convenience of the customers

instead of long lines, that turn a lot of consumers away. As illustrated in study by a

retailing and merchandising company in Wisconsin, “a tablet frees employees from the

point-of-sale system, instead allowing them to carry the register with them. Employees

can go directly to the aid of the customers, helping them find out what is in stock, what is

available at other stores and when new products might be launching. The tablet also can

contain information about the loyalty program, so a frequent customer can be given VIP

status. Then, when a purchase is ready to be made, the customer does not have to stand in

line, but rather can simply continue talking to the salesperson and make their purchase

via tablet (http://www.retailcustomerexperience.com).”

The strengths that can be executed online are going to be aligned with the brick

and mortar but require a lot more marketing, strategic and statistical processes. With the

online aspect to Opulence Lounge, our customer base will be monitored with a tracking

system and click through rate that allows our company to expound on areas that are

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http://www.businessoffashion.com/


attractive to our audience. This includes but is not limited to specific garments and styles

that are frequently gazed on the millennial man. A lot of research in reference to needs

and wants from a retailer and an online-based portion of the business is very vital in the

growth of the company. Opulence Lounge will utilize a marketing consulting firm, trend

forecaster (Doneger) and an advanced IT team cohesively. A plan is the best solution to

resolve and fulfill the desire of our customers. “ If a retailer can track what a customer is

purchasing, and where, more targeted marketing can be introduced. Someone who tends

to browse online and then purchase in-store, for example, can be emailed an invitation to

a private showing in a store, and the list of products to be shown can be sent before the

event, increasing the likelihood of purchase (www.retailcustomerexperience.com).”

According to a study by the senior marketers of Adobe Systems and the CMO Council,

“69% of companies are currently allocating their digital marketing funds to website

content, development and performance optimization (www.marketingland.com).” With

this information, we are enabled to believe that the best way to retain our customers and

bring in new potential loyal customers is to reach to them efficiently on this platform.

The choice to enter a physical location or to purchase electronically will be at the

convenience of the consumer and will give them options and alternatives to such a

customer-oriented company. The article about digital marketing integration continues to

explore the five key successful steps for the campaign to be the best. Listed are

identifying which key digital channels convert, understanding your target audience,

building your content and digital strategy in synergy, structuring and aligning your digital

marketing teams and lastly, executing/ optimizing/ and measuring success. “Marketers

understand not only what channels have high impact, but also the pivotal role that content

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http://www.marketingland.com/



insights, production and performance play in the planning of integrated digital marketing

campaigns (www.marketingland.com).” Social media platforms will include but not

limited to Facebook, Instagram, Twitter, Pinterest and Snapchat. We strive to use these

social networks to keep in contact with our consumers on a daily basis. Our platforms

will enable constant interaction with someone in the company at any time of the day.

Reviews and certain authorized conversations will be exposed to the public whether

positive or negative. This will gain respect and loyalty of our potential clientele because

we are giving them insight and a sense of down to earth perspectives. When you allow

your customers to see your business personally, emotionally and business oriented, they

will have an emotional connection that is very important to this sector of the market.

In direct alignment with our online platform, the brick and mortar location is

imperative and just as important to capturing our target audience. “68% of men say that

their spending on luxury or premium products revolve around brick and mortar. 30% of

men do not do any searching before they head to the store (www.luxuryinstitute.com).”

The entire experience within the establishment will be our key objective in keeping our

customers loyal and become frequent visitors and purchasers. The ultimate gain from our

business needs to be customer service and making their time with the company eventful

as well as memorable. Word of mouth will be prevalent in the marketing techniques that

are executed in Opulence Lounge, which will inevitably result in sales and a consistent

growth of the overall company. “With consumer navigating freely between mobile, Web

and in-store shopping, and brands therefore able to gather more information than ever

before about frequent shoppers, properly cataloguing clientele has emerged as a way to

provide the best possible customer service and showcase a great branded experience.”

30

http://www.luxuryinstitute.com/

http://www.marketingland.com/


Giving our associates the best educational training and courses on client relationship

building is beneficial to the customers but to the morale and overall personality of the

company. Having well trained personnel in an establishment gives the customers a

feeling that they are appreciated and special, because the conversations are not geared

primarily towards purchase but rather a personal connection to understand who our

consumers are.

Part Seven: Product Development

Sourcing Philosophy:

When it comes to Opulence Lounge, our philosophy on sourcing is that we

believe in using the best material to give our consumers the best products and experience

that they can receive at such an establishment as ours. This philosophy spans from

Opulence Lounge, the actual retail shop to Dayvid's Place the barbershop and even the

Man Cave. In regards to sustainability our brand follows the same concept as a brand like

H&M however, on a larger scale. H&M allows for their consumers to bring old products

back and for them to be broken down to be repurposed for new products such as their

Conscious Collections. For the sustainability of Opulence Lounge, we will have a section

in the store where customers can go and take old products and have them repurposed into

something new and fun to wear and even give as a gift. The mission at Opulence Lounge

is that "…Opulence Lounge is to get men to come out to a retail shop where they can

get all of their necessities and a place where they can bond with their sons and friends

while creating memories that will last a lifetime". The social responsibility correlates

with the sustainability efforts because say, for instance, that a father purchases a

motorcycle jacket from Opulence Lounge and he grows out of it or no longer feels as

31


though it fits with his wardrobe and wants to pass it on to his son however, the style of

the jacket may be out of style. With our sustainable efforts individuals can have that

jacket repurposed to make it into something new such as a vest, or even a wallet or belt.

Part Eight: Marketing the Line Globally

Global Marketplace:

The market that we have chosen to enter is the United Kingdom, London, to be

exact. The things that we know about this country are that, it is probably one of the only

countries that have major similarities to the original city for Opulence Lounge, which is

New York City. This country, in many ways, such as brands and various sectors catering

to various markets is very much like New York. As previously stated, the country was

chosen due to its major similarities that can be found in the space of shopping. Take for

example, Regent Street in London; this space is home to some of the most high-end

retailers that the fashion industry has to offer its consumers. Just like Regent Street in

London one location in New York where this is replicated would be on 5th Avenue. With

its wide array of fashion establishments from the high-end market, the farther one travels

into the space. It is found that with the both of the cities and the streets the further

consumer travels into them, the higher the price of the goods that are being displayed.

According to Dailymail.com on average £5345 ($8,881) is spent per person in a

year in London while in America on average $9,752 (£5867) is spent per person in a year

in New York. These figures are only representations of shopping per the two cities and

how much is spent per person when they go shopping. As far as the product line for

Opulence Lounge UK, just as the concept with the American-based store, we will have a

pop-up atmosphere to work with. For the London location, we have decided to partner

32


with one of the shops i.e. barbershops or bars and build off of what they currently have,

or even use a retail shop to build off of and develop the extensions for the brand. This

seems to be a better idea because it allows for the brand to use something that exists

currently and is already a part of the UK market. As the aforementioned states, we will

use existing establishments to fully develop Opulence Lounge UK. So for starters the best

idea would be to find a retail shop on Savile Row (Because it fits the overall theme

perfectly) and build the brand, so we can add on our barbershop and bar, which will also

probably be London based businesses that currently exist as well.

Global Market Environment:

Due to the fact that we plan on using existing companies that already exist in the

London territory, things such as the trade systems, tariffs, quotas, and exchange controls,

we will leave that to the companies that already exist and partner with them to bring a

barbershop, men's retail shop and a men's lounge all together to get what we are looking

for that matches the Opulence Lounge USA. For the transition of the markets, ideally we

would like a liaison between the American branch and the British branch, who is familiar

enough with both and who can help find out the best business to acquire in order to be

apart of this new development. In regards to the barbershop portion, London would

probably require fewer employees because of how frequent they get their haircut.

Entrance to the Global Market:

As previously mentioned, the method in which we plan on entering into the UK

market is to use businesses that currently exist in order to build Opulence Lounge UK.

When looking at the business structure, changes as opposed to what was done in our

33


American branch we will use businesses that exist already and bring them all together to

create what we Americans refer to as Opulence Lounge USA. We will do this by

acquiring a retail shop, a barbershop and then a men's lounge and put them together and

turn it into the vision that we have for Opulence Lounge UK. The great part about

entering a market like the UK is that, it is the same language in America and the only

difference would be the currency, so we would set things up so that the prices work for

London. The social media sites will inform the consumers that we have now added a new

branch to the company and where it is, in that new country this will help in getting new

consumers for the British location.

Global Marketing Plan:

STRENGTHS:

Original idea Exclusive offers on products and

services It’s a one stop shop for men Partnership with exclusive brands

on their products

WEAKNESSES:

First brand to offer these services all in one

There is room for error because of its originality

Bespoke suits Acquiring the three branches for the

company Consumers might be skeptical

about the brand

OPPORTUNITIES:

Growth in the market of men's retail shops

Ability to easily sway individuals to purchase memberships

Ability to publicly trade shares of the company to get more people involved with this great concept

THREATS:

Other brands will be created after initial

Fear of a new product on the market Location The "Savile Row" Competition

34


The marketing mix that will be used will be that of the brand that Opulence

Lounge USA acquires from a UK retailer. We can use technology to our advantage by

implementing services that allow for our consumers to have things sent to them that help

if they don’t have time to visit the retail shop. Also, just like Opulence Lounge USA we

will offer the scheduling of appointments and holding spaces for the lounge area in the

Man Cave.

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