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Buying project proposal for Neiman Marcus fashion jewelry department
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Fashion Jewelryfor Neiman Marcus
Alia Rafiq
Trade Show Schedule SIHH
• Geneva, Palexpo Hall 6 – Access via Hall 5.500 metres from Geneva airport.• January 18 – 22, 2010• http://www.sihh.org/sihh2010
New Munich Trade Fair Centre• MessegeländeD-81823 München, Germany• February 19 - 22, 2010 • http://www.messe-muenchen.de
Spring 2010 Trend Report
highly dramatic Statement jewelry
swirled and sparkled materials ranging from feminine fabric petals
and diamonds to harder looks with arrowheads
and metals
2010 Color Story
Pantone.com
Nature is Blooming
Botanical
Silver & Gold
Oxidized Silver
& geometric shape
Cuffed
exotic
Ethnic&
Chunky Beads
& Stone
Bigger is
Better
Com
petito
rs
•High end Merchandise•Limited selection•Fine Store Environment•Effective Window Display•Few sales people•Easy to navigate•Jewelry department carries names from David Yurman to Juicy Couture•Price range from $8,000-$38
Saks Fifth AvenueCustomer Profile:• Upper Class Customer• Age 30-55• 80% women• Browsers
Visual Presentation:• Organized layout• Engaging first floor display• Tasteful store design• Easy to access desired garments
Saks Fifth AvenueMerchandise assortment: David Yurman, Gucci, Elizabeth & James, Dior…Necklaces: • High price point: $6,650.00 Marco Bicego Diamond & Gold disk• Low price point: $38 Juicy Couture Charm necklacesWatches:• High price point: $8,375 Cartier Large Ballon Bleu Watch• Low price point: $400 Philip Stein Stainless Steel Silicone StrapEarrings• High price point: $5,480 Roberto Coin diamond hoops• Low price point :$38 Marc by Marc Jacobs script earringsBracelets• High price point: $5,150 Gucci black onyx and diamond bracelet • Low price point $38 Juicy Couture charm braceletRings• High price point: $3,950.00 David Yurman Citrine Diamond ring• Low price point: $45 Kenneth Jay Lane Rope ring
Neimans Vs. Saks
David Yurman Blue Topaz, Diamond & Sterling Silver
Necklace
Saks: $975Neimans: $975
Gucci Silver and Bamboo Horsebit Bracelet
Saks: $1,650Neimans: $1,650
Barneys• High end• Posh & almost unfriendly staff• Highly imaginative displays• Very open retail floors• Older clientele• Prices from $200-$13,000• Names from Cathy Waterman
To Mallary Marks
Barney’sCustomer Profile:• Disposable Income• Ages 30-60• Desires to be unique/fashionable
Visual Presentation:• Highly imaginitive displays• Often impractical yet visually pleasing• Even mannequins seem to be a work of art• Minimal merchandise to highlight display
Barney’sMerchandise assortment: Maronni, Simone Coste, Fallon…
Necklaces: • High price point: $12,620 Mallary MarksTassel Necklace• Low price point: $285 Etten Eller chain necklace
Watches:• High price point: $5,000 Bell & RossBR-02 Watch• Low price point: $365 LIP White Fridge
Earrings• High price point: $17,800 Ileana MakriBlack Diamond Lace Earrings• Low price point : $190 Jeanine PayerMeriwether Earrings
Bracelets• High price point: $19,950 Rettore Zebu Horn Cuff• Low price point $375 Jennifer Meyer Diamond Bangle
Rings• High price point: $39,800 Renee Lewis Marquis Ring• Low price point: $550 Malcolm Betts Two-Tone Diamond Ring
Barney’s Vs. Neiman’s
Barneys: $2,020 Me & Ro flat fine bangle
Neiman’s: $500 Roberto Coin oval bangle
Bloomingdales• Large store• Over crowded• Looming sales people• Bright, neat displays
• Mid to high end merchandise• Carries names from Me&Ro to Aqua
• Price range from $25-$430
BloomingdalesCustomer Profile:• Middle to High income• Age 20-50• Store Loyalty• Mostly women
Visual Presentation:• Grand displays, becoming trendier• Large retail areas• Busy yet still clean & crisp displays
BloomingdalesMerchandise assortment: D&G, Adidas, Badgley Mischka, Burberry…• High price point: $612 Gemma Redux Pyrite and Chain Necklace• Low price point: $28 Aqua Short Multi Faux Pearl and Ribbon Necklace
Watches:• High price point: $425 Burberry Women's Rose Dial Bracelet Watch• Low price point: $55 Adidas "Response Light" Digital Watch
Earrings• High price point: $395 Me&Ro Full Lotus Drop Earrings• Low price point : $30 Aqua Hoop Earrings
Bracelets• High price point: $475 Robert Lee Morris for Elizabeth and James
Feather Cuff • Low price point: $25 Aqua Chain and Faux Pearl Bracelets, Set of 7
Rings• High price point: $225 Judith Jack "Bohemian Rhapsody" Stone Ring• Low price point: $45 House of Harlow Sunburst Leather Cocktail Ring
Neimans Vs. Bloomingdales
Elizabeth and James Onyx Snake Cameo Stud
Earrings
Bloomingdales: $225.00
Neimans: $395
Neiman Marcus Additionsfrom Barney’s
ZoeAgate bangle
$7,700
Judy HudsonMorpho Butterfly Pendant
$1,750
Neiman Marcus Additionsfrom Sak’s
Alexander McQueen Skull Cocktail Ring/Silvertone
$310
Alexander McQueen
Skull Ring$250
Merchandising Plan
• U.S. jewelry retail industry has about 30,000 specialty stores • Combined annual revenue of about $25 billion dollars• Sales are determined on customer income.• In tern, profitability depends on advertisement, marketing, and merchandising• Jewelry’s gross margins are exceptionally high, often marked up as high as 50%• Mass merchants then cut price and take market share
http://www.hoovers.com/jewelry-retail/--ID__66--/free-ind-fr-profile-basic.xhtml
Industry Report
Industry Report: Neiman Marcus
*Designer & Precious Jewelry= 11%
• October Jewelry Sales Estimates Conflict with Reported Results– “Conflicting sales reports make forecasting fourth quarter sales
even more difficult for jewelry retailers. But, volatile consumer spending patterns, large competitors promotional plans, and emerging macroeconomic forces may play a much bigger role in the final outcome than actual sales in August, September, or October” -Gerson Lehrman Group
– “Luxury retailers reported mixed results. Neiman Marcus reported a 6% decline” -GLG
• Retailers’ Sales for September Only Reach 2005 Level– “In an interview, Mr. McNamara explained that in a sector like
jewelry, for instance, sales increased 1.2 percent in September from September 2008. But the dollar volume of sales “is still about 5 percent lower than we were in September 2007 and about 10 percent lower than the sector was in September 2006” –NY Times
• U.S. Retailers Report Weak Jewelry Sales for Sept– “Neiman Marcus' sales fell 14.8 percent to $354 million and
comparable store sales were down by 16.9 percent. The company noted that its performance was weakest in the home and jewelry categories” –diamond.net
Industry Report: Neiman’s Jewelry Report’s
Neiman Marcus Advertising
Neiman’s Christmas Book
“We want you to be completely happy with your order.
If for any reason you are not satisfied, we will gladly accept your timely return
of unworn, unwashed, or defective merchandise.
Returned merchandise should include the vendor packaging and tags and be in the
same condition as when it was delivered to you.
Used merchandise cannot be returned unless defective. Return Within Amount of
Credit
Any merchandise purchased at a Neiman Marcus store should be returned
to a Neiman Marcus store”
“All precious jewelry and Cartier watches must be returned within 60 days from the date of
receipt and must include all original documentation”
Cele
bri
ty
En
dors
em
en
ts
Star-powered media attention
A-List Credibility
&
Customized Advertising Plan
for Neiman Marcus
Interview with Kelly Smitten:
Owner of Elite Yacht Charters
(Beverly Hills, CA)
& loyal Neiman
Marcus Customer
AR: What draws you to Neiman
Marcus and what advantages does
the jewelry department have
compared to other stores you have
shopped at?
KS: The customer service is incredible. I have developed a relationship with not only the associates but with the store itself. I go to Neiman’s and I know what to expect…quality.
Again, the service. The layout is neat and precise, I am helped whenever I approach the counter and I can find something for everyone in the Jewelry department. A business gift, a birthday, and mothers day day can all be taken care of all in the same display case!You can never go wrong with Neiman’s. I anticipate The Book every year and I always get update emails from associates letting me know about new jewelry that I may be interested in which is extremely helpful considering I have to travel so much for my job and rarely find time to browse the store anymore.
Fine Jewelry For:
Neiman Marcus
Buyer: Alia Rafiq
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