P is for Pepper

P is for Pig
P is for Petunia 
P is for Petal
P is for Pixie
P is for Puff
P is for Peculiar
P is for Pretty
P is for Prim
P is for Proper
P is for Petrol
P is for Plum
P is for Plume
P is for Proud
P is for Pear
P is for Preen
P is for Pencil
P is for PAUL

Product

Product Positioning.


The Matrix below shows how Paul Smith relates to its fellow competitors, both highstreet and high end. This is shown on a fashion forward, plus and minus and price basis.
 Fashion wise, PS lies at the middle of it's game. Sitting in between Mont Blanc and Giorgio Armani, it plays an above average role in the price game and is a suitable brand for those who want to stand out a little, yet not play themselves as a Lanvin or All Saints customer.

Conclusion

Conclusion.

The current Paul Smith collection targets the appropriate customer. The Paul Smith customer is a creative quirky individual who has a strong sense of his own style who likes classic fashion with an inventive twist.

Paul Smiths main competitors on price are Dunhill, Giorgio Armani and Yves Saint Lauren; however their competitors on style are Ted Baker, Calvin Klein and Dunhill.

Store locations are situated across the globe. London, where the brand first developed, has Paul Smith stores in prime locations, including his flagship stores in Covent Garden and Notting Hill. Despite being a London designer, a large number of his stores are in Japan.

Paul Smith has a strong brand identity and as such has a variety of promotional tools that he uses. He has a strong print ad campaign which can be found in a variety of publications. He utilises new promotional tools such as his blog, film and exhibitions to enhance the brand identity. 

Paul Smith’s Autumn/ Winter 2010 collection has a wide range of products, including many different shirts and tailoring. He provides his customer with sharp tailoring, knitwear and T-shirts which allows them to put their own look together and mix and match throughout the range.

SWOT

Strengths-

• Strong brand identity.
• Wide variety of products in different styles and colours.
• Good understanding of customer.
• Well- designed shop interiors.

Weaknesses-

• Not enough UK stores as whole.
• Different lines are not clearly identified within stores.
• Pricing is not as competitive as other brands such as Ted Baker and Dunhill.

Opportunities-

• Open more stores throughout the UK, not just London and Nottingham.
• Define different lines more clearly in stores through lookbooks and more defined sections in store.
• More competitive prices.

Threats-

• Competitors such as Ted Baker are better at targeting younger markets, therefore encouraging customers to stay with the brand as they grow older.
• Cost of sourcing fabrics and manufacturing as the company is routed in Britain and Europe.
• Cheaper fashion forward option available such as Topman and H&M.

Overall Paul Smith is a brand with a clear identity and has a strong design aesthetic. The brand continues to evolve to meet the needs of its customers as the market changes but needs to be aware of threats and make the most of oppurtunities.

Product

Design Features.

Paul Smith uses a variety of design features to personalise the collection…

One design feature in this collection is using multicoloured or distinctive coloured buttons on shirts.

Another design detail is the different shapes of collars used on shirts.

There are also little design details shown in the trousers with contrasting fabric used on back pockets.

Contrasting coloured button stands are also a design feature on shirts and allow more cohesiveness in the collection.

Place

Where is Paul Smith sold?

Paul Smith is an English designer, although his designs are popular all over the world. The collection is wholesaled to 35 countries and there are 14 shops in the UK alone. The map below shows the locations of Paul Smith shops all over the world.

 In the UK the full catwalk collection for Menswear is stocked in both flagship stores in London, Covent Garden and Notting Hill, it is also sold at Paul Smith’s main shop in Nottingham. You can also find garments from the catwalk collections in the department stores (stockists) Harvey Nichols, Selfridges and Harrods.

The map below shows where Paul Smith is sold in London.

Rabbit Key.(Indicates stores for above map).

Stockists

Flagship Stores - Menswear

Flagship Stores - Womenswear

Shops

                                            

As you can see, there are so many locations in London to browse through Paul Smith’s collections however; stocks are limited in the rest of the UK.

I think the brand would benefit from vaster store locations and stockists, other than in London. A new store would also be great for promotion and showcasing new collections. Paul Smith likes to put his own personal touch into each shop, paintings from his own collection are displayed in his flagship store in Covent Garden and all of his shops have been personalised with quirky items from his ‘department of silly’, which reflects the fun side of his collections.

People

So what exactly is the PS boy? What does he do? what does he like? Where does he live?


We met the quintessential Paul Smith boy, in Leicester Square this week...

This is Matthew... He's 27 years old and works in Theatre Wardrobe, West End.

Origin: Western Canada

Accommodation: London flat near Portobello Road.

Personality: outgoing but likes his own company as well

5 things he couldn’t live without:

Shopping is his favourite past time...

The Iphone is a must...

                  

                                                       

As is catching up with the television....

He has an interest in history.. 

....and reading Time Out Magazine to see whats happening in around the city....

Promotion

He also uses the infamous Paul Smith mini (painted in the signature multi-stripe) as a clever promotional tool he often uses it in non-garment based designs but anything which strengthens the brand identity will help promote the collections on sale. The mini also travels around the world promoting the Paul Smith brand; currently it is on a road trip around America,(see map below).

In store the strong brand identity continues and the stores do have a clear look. There is an old fashioned charm with the wood and glass cabinets, with the clothes immaculately presented alongside various interesting objects, which fit with the idea of traditional British with a twist.  However I do think there is definitely some room for improvement. 

Paul Smith, Floral St, Covent Garden, London.

Once in store it can be difficult to differentiate between the various lines such as the catwalk and Paul Smith London. I think it would be a good idea to make sure the labels on these garments are made clearer and possibly move these two particular collections apart. I also noticed that they do have a brochure for each line although not for the catwalk line so I think it could be a good idea to also introduce a look book, which can be displayed by the collection so customers can see how the collection has been styled and understand what is part of the collection. This look book would only need to be shots off the catwalk so this could be put together fairly easily and then customers could take a look book away with them and will consequently probably come back to buy more.  (See the below image for mock up of look book cover).

Summary.

Overall Paul Smith already cleverly uses his blog, website, print ad campaigns, video/film, Paul Smith mini and store design to promote the brand however there are of course improvements I think could be made. The blog could be better utilised to promote the catwalk collection especially around the time of the show. He could post a video of the catwalk collection on to the website so customers unable to attend the show can see it. I think clearer labelling in store would help customers understand the many lines offered by Paul Smith. I also think there should be a look book on display, as well as look books for customers to take away with them. 

Price

Pricing Policy. 
Paul Smith uses full numeric values for its prices. Denominations of 5 and 9. The absence of pounds and pence e.g £9.99p, suggests that you are buying into a quality product. Psychologically, a rounded figure makes it feel like you are spending more money, even if it is just a few pence.




The following graph shows average prices for Paul Smith from eight categories of clothing, including comparisons against two of its competitors, Ted Baker and Dunhill.
                      

                        Shirts   T-shirts  Jackets  Coats  Knitwear  Jeans  Suits  Trousers

 (£)(Average)

 Paul Smith     

 Dunhill          

 Ted Baker     

Below is the same list from Paul Smith, indicating prices from high to low on each garment category.