merchandising-2

Range Planning

• Components of fashion are time, people and acceptance while color is the binding element
• Range means collections linked themetically
• Forecast Interpretation for Range Development

1. Look for Cues for colors- are related to theme, as in a picture. Write the strikingly important colors. Write the color pallet.

2. Select silhouettes. eg beachwear, sports wear and partywear require different silhouettes.

3. Select fabric according to the silhouettes.

• Three r's of fashion forecasting are research, report and recommend

1. Research: First there is textile stylist which selects threads/ fabric. After that there is fashion forecaster which has his own feel. Then there is a fashion designer who has his own feel and then with the help of fashion director selects the material which can cater to the design and has appeal to the customer. He also consults several fabric manufactureres to judge main themes. There is also a meeting with the retailers to get their opinions about the fabrics etc. At that time certain elements begin to emerge.

Travels various fashion shows and fairs in Europe/ USA and other parts of the world are also made to get the feel of what is new. A look of various fashion magazines and sites is also done.

Other influences are demographic, climatic and geographical , life style and lifestyle of people in the news/music and entertainment etc.

2. Report: One should consider the following points

- Distinguish what is truely new

- Never forget the classics

3. Recommendation:

- Careful analysis of trends

- Identifying and pinpointing specific fashion which is guided by - experience and stores sense of clientele

-Instinct for new ( we cannot be 100% accurate, but 80% accuracy should be our target.)

Remember: Primary part of forecast is supply driven rather than customer driven

Some terminologies:

1. Free on Board Price: Exfactory+ Transport charges from factory to the port +Handling and Loading from the factory to the nearest port on a ship.

2. FOA: Free on Air: ex-factory+transportation charges from factory to airport+handling at port.

2. CIF price: Cost(FOB)+Insurance+Freight: Here freight means freight of transportation from the port of shipping to the port of destination. Remember here buyer is not paying for insurance but seller does, but risk of goods is always buyers.

3. DDP : Delivered Duty Paid- CIF+ on your doorstep. The risk is always of buyers.

• Remember : Till FOB, risk is seller's , after that it is that of buyers

4. OTB: Open to Buy: It is a quantity that is bought in a month. It depends upon how much I already have and how much I expect that should be sold.

OTB= End of Month ( that I intend to hold)-Beginning of Month (That I already have)+ Planned sales (as forecast)

When it is in terms of Rupee, it is called Rupee Plan. When it is in terms of Dollars, it is called Dollar Plan.