FASHION MANAGEMENT

FASHION MANAGEMENT

Carlo Fei

Obiettivi formativi

The Objectives of the course will aim to give our students: • the skills to identify, understand and manage the main tools to drive a fashion business in an innovative way • the knowledge and capacity to understand the dynamics of fashion enterprises in the new scenario that the COVID-19 generated with impact on a macroeconomic level and on the customer behavior one • the capacity to understand priorities so as to be able to manage the business with a “systemic” approach between Brand, Retail, Organization, Customer Experience Strategy, Digital Revolution and Sustainability • Independent thinking: being able to think out of the box, recognize innovation and avoid a silo-mentality approach • Communication skills: learning how to recognize brand values and communicate them with coherence and effectiveness

Risultati di apprendimento attesi

Please see previous point

Contenuti Del Corso

Fashion and Luxury successful brands stand for many different things in the minds of customers, and they all succeed in generating consumer interest, advocacy, even passion and, above all, value for the companies. This course focuses on strategic and creative management of Brand, Retail, Customer Experience: 3 related essential and strategic tools in the luxury/fashion business indissolubly linked with the digital revolution and the Sustainability needs. BRAND Brand as the most tangible of intangible assets: in the Luxury/Fashion Business they share between 30 to 80% of the total Company value. Where is the value? Which are the main contributing factors in the Brand valuation? How to maintain and increase the value of this fundamental asset? what are the fundamental elements that determine the differentiation of brand positioning and consolidate their value over time? Brand values as the Company commandments. The Brand Identity Model. RETAIL Retail strategy: different options for different objectives. An overview of different retail models in the luxury/Fashion market. Retail Management, Retailing indices. Retail as a communication tool. Retail innovation. CUSTOMER EXPERIENCE Customer Experience Management (beyond customer satisfaction): From Traditional Marketing to Experiential Marketing, Emotion as main human behavioral driver. Measuring the Customer Experience: the Customer Experience Audit (providing outdoor training and activities). Building the Customer Experience in all the touch-points Brand/Customer. How to build and manage it related to Fashion Companies, Maintain and enhance the Customer Experience through Benchmarking the Customer Experience with the “Out of the Box approach” to maintain an always innovative and surprising Customer Experience. What the digital transformation is really changing in the expectations of Luxury/Fashion customers? And how are Brands designing the experiential customer’s journey? THE FASHION MARKET The Fashion Pipeline Fashion seasons and turnover TRENDS: how trends start Style: creativity and inspiration as fundamental elements in the fashion business FASHION COMPANIES ORGANIZATION AND FUNCTIONS: who does what in a fashion company. COMMUNICATION: from the product oriented to the lifestyle-oriented communication in the Fashion/Luxury industry. The role of DIGITAL REVOLUTION in the Fashion/Luxury industry: impact on Retail, Communication, Customer Experience. ABOVE THE CRM, CLIENTELING: How L/F Companies connect and manage the relation with their most important assets: the Customers. GO TO MARKET: How to manage the complex fashion supply chain from Fashion Show to Customer’s wardrobe. CONSUMER BEHAVIOR: why people buy things they don’t need? SUSTAINABILITY and CSR in the Fashion business. CASE HISTORIES, Conferences form Top Manager leader Fashion Companies are planned during our course

Testi Di Riferimento

LESSONS SLIDES and MANDATORY BOOK Stefania Saviolo Erica Corbellini Managing Fashion and Luxury Companies ETAS ©2009 Papers, Articles and Updated L/F Mkt Data will be provided with Focus on Next Normal of the L/F Market. Other Suggested Books (if you really loved the matter here’s a way to deepen it): Bernd Schmitt Customer Experience Management New York Free Press ©2003 Mark Tungate Fashion Brands: branding style from Armani to Zara KOGAN PAGE © 2005-2008 Tony Hines Margaret Bruce Fashion Marketing ELSEVIER LTD © 2007 G. Zaltman How Customers Think: Essential Insights into the Mind of the Market Harvard Business Press ©2003 Shaun Smith Managing The Customer Experience Turning customers into advocates FT Prentice Hall ©2002 Harriet Posner Marketing Fashion -Strategy, Branding and Promotion- Laurence King Publishing ©2015

Metodologie Didattiche

traditional lecture V- team works V- role-playing or other kinds of simulation V- seminars V- presentations and assignments V- other (outdoor activities, videos, web browsing, etc) Class sessions will combine: lectures, videos, exercises, web browsing, outdoor activities (in Rome Fashion/Luxury stores), industry speaker perspectives, case histories and class discussion on lessons topics. Groups of 5 to 7 students will be assigned to develop a Fashion Brand study and presentation deepening the different subjects developed during our course. All students will be required to participate to the final presentation (20 to 25 minutes for each Brand) that will be held during the last days of our course.

Modalità di verifica dell'apprendimento

Grade will be determined by the following: Team Work Assignment 40% Outdoor Activities, class and case participation 10% Final Exam (written) 50% PLEASE CONSIDER THAT ONLY THOSE WHO HAVE REGULARLY ATTENDED THE LESSONS WILL BE ADMITTED TO THE EXAMS AND THAT REGARDLESS THE AVERAGE SCORE, YOU NEED TO OBTAIN A SUFFICIENT GRADE IN THE WRITTEN EXAM TO PASS.

Criteri per l’assegnazione dell’elaborato finale

Particular interest in Fashion and Luxury. A curriculum including deep knowledge of business economy, marketing and a very fluent English (both written and spoken) is expected. An excellent final mark in Fashion Management and Luxury Management will be preferentially considered as well as the attendance to an internship in a Fashion or Luxury Company.

Settimana 1

Objectives of Fashion Management Course. Our Method. Our Expectations (and Student Expectations). Behavioural Rules. Outdoor Activities. Interactive Activities. The Team works. The Exams. What is Fashion. The button Panel. Definition of Fashion. The Fashion Cycle. Fast Fashion. The Fashion numbers and the watershed that marked the pre-Covid market from the post-Covid one. Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos.

Settimana 2

The button panel. The BRAND Definitions, Brand as an asset, Political and cultural importance of Brands. Brand Equity. Brand equity valuation. Brands in Fashion. The Brand Identity Model. Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos Brand Positioning and Brand values. Brand DNA in Fashion. The Brand Positioning Statement. Interactive exercises on Branding in Fashion. How brands behaved during the Covid-19 crisis: different behaviors generated different reactions among customers, discussion. Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos

Settimana 3

CUSTOMER EXPERIENCE MANAGEMENT CX and Experiential MKTG From Traditional MKTG to Experiential MKTG, The Brand and Customer Expectation Framework, From Traditional Customer Satisfaction to Customer Experience (Bernd Schmitt), CEM Staircase, The Experiential Curve, Driving the process successfully: from Small think to Big Think (Bernd Schmitt framework). The CX Design Process. Five Senses Involvement. Measuring the CX effectiveness.

Settimana 4

OUTDOOR ACTIVITIES (possible extended lesson in different time schedule) Audit focusing on the Customer Experience adopted by main Fashion Luxury Brands The delivery process in C.E. N.B.: Please note that the outdoor activity will be subject to the evolution of the pandemic situation and to the health safety rules in force at the time of the activity itself. CUSTOMER KNOWLEDGE: CRM, Clienteling, etc. The many diversified activities to know, connect and engage in a brand-advocacy relation the different customers of a Fashion/Luxury Company. Part Two CUSTOMER BEHAVIOUR, Processes, Benefits, KPI's. Customer Care, Data Collection, Data Usage. Customer Behaviour after Covid-19 Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos

Settimana 5

COMMUNICATION in Luxury and Fashion Past, Present and future. ATL, BTL and TTL, PRINT, POS, DIGITAL communication (Website ADS Formats, : Digital Campaign on Search Engine, SEO, SEM, Social Media Formats, Digital and Social Media Metrics, etc). The Media Plan, the KPI's in ADV, From Content MKTG to Content Strategy Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos

Settimana 6

GO TO MARKET in Luxury and Fashion Industry. (DA COMPLETARE LUCAR) Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos

Settimana 7

RETAIL: the 10 different store Typologies, The 7 steps process to install a store. The evolution of Retail in the Next Normal -case histories and discussion Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos

Settimana 8

MERCHANDISING, PLANNING, CONTROL and PRICING Make to Order and Make to Stock models, Pricing, The Merchandising Greed, The Mark Lee Triangle, Pricing in Wholesale and in Retail, Different Categories and different Pricing approach. L/F Top Manager Lectio Magistralis (if possible)

Settimana 9

SUSTAINABILITY IN FASHION What is Sustainability (3P), How a sistemic and data driven approach has to be adopted while forging your opinions and map out your strategy. The complexity of the Fashion Pipeline as an obstacle to control the true cost of the Fashion system; Greenwashing vs Sustainable Practices; the contradiction of the Fast Fashion business model towards Sustainability; The drivers of the Green Revolution; the Reshoring positive impact on Sustainability and the risks on Social and Welfare impact of current suppliers; Legislation MSA 2015; Legislation REACH Regulation EU; Legislation legislative decree 254/2016 ITA; UN Soft Law Guidelines; CNMI (Camera Nazionale della Moda Italiana) Principles on Sustainability, Eco-Toxicological Requirements, Green Carpet Fashion Awards. The G7 Fashion Pact; The importance of Made in Italy in Sustainability; The (surprisingly) Most Sustainable Fibers; Relevant Measures on Sustainability. Does Covid-19 bring an acceleration in sustainable Fashion practice or not? -Discussion. Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos

Settimana 10

What's next: Updating mkt situation with news on Innovation, new paradigmas in Fashion Industry. Group Works Presentations

Settimana 11

Group Works Presentations

Settimana 12

Group Works Presentations and explanation of the exams procedures (demo)