After extensive research, as a team, we decided that the industry was in need of some lovely handbags. Here is the 2 by 2 matrix that we made to find our white space. We added companies that were more low cost and functional like Old Navy and we also added companies that were more high cost and professional like La Guardia. Ultimately, we found that our white space was in the more low cost, professional region. 

Estimated at 49.35 billion dollars in 2019, and the compound annual growth rate expected to grow by 5.4% by 2025, this large market is ever-growing. By the end of 2020, the market is expected to reach about 51.89 billion dollars. When comparing the market globally, the United States generated the most revenue at over $10 million. Large bags accounted for almost half of the global revenue at 41.7%. Tote bags have more room than other handbags and allow the consumer to carry a large number of goods all at once.

The first chart on the left is a survey that was done of women who are in the marketplace for a new handbag. Of those women surveyed 38.8% of them have low income. All 38.8% of these women are working and need professional, nice affordable bags to bring to work.

For the chart on the right, in August 2020 shows how the demand for handbags raised by 3 thousand and 233 million dollars during Covid-19 and how it is expected to rise over the next few years.

The table on the upper left corner shows the top five countries in the handbags market and the United States is in first place by 10 million dollars.

And the chart on the right shows 4 types of bags and how they are expected to make an impact on the handbags market and help it to grow and one of them is Tote Bags.

In addition to our research on the market we also curated a color palette based on this season's runway styles. With neutrals, soft pinks and of course classic black, these hues are staple items in any collection this fall. This being the perfect time to take inspiration and update your wardrobe with the classic pieces we’ve curated ahead.

 Some trends that we found, which are shown on the left hand side for this season's bags that we feel fit best for the brand are chains- whether they are on the straps or in the detailing, the shape of the bag- boxy rectangular silhouettes, and a medium to large sized bag

Our colors which are shown on the right side are tan, black, white, soft pink, green, and brown. Which will either be shown in the leather we choose or the details shown on our bags.

After we looked into all the statistics and trends for handbags, these are a few of the bags we are taking inspiration from and feel would best suit our company. 

First we have the:

Ladylike Bag

The bag for your night out

Secure with zippers or flaps

Classic handbag

An has an elegant hand-held envelope

Bowler Bag

Functional and spacious, with pockets inside and out. 

Bigger in size, so could be a working bag or everyday

Double strapped so u can wear it on shoulders or as a cross body type 

North-South Tote

Perfect for the working woman

Has a place for all work/ tech essentials with an array of pockets

Match business or casual

 Next we have our 5 competitors Kate Spade, La Guardia, JW PEI, Fossil, Peta and Jain

We decided to include La Guardia even though it is a little over our price range, because it is a large competitor in Klazet as it is a brand that includes handbags 

La Guardia and Kate spade were included for style purposes rather than price 

Fossil is more in our price range and also sells handbags similar to we do, for the working woman. Their bags are larger in style and able to hold all that is needed

We decided to include JW Pei and Peta and Jain because they are directly in our price range for their handbags 

Our woman walks to work, purse in hand, on a busy street and smells the roses around her. She takes a moment to pause and take in all of her surroundings. Feeling like she has all the time in the world she grabs a bite to eat on Rodeo drive before heading back to work. She enjoys every second on her walk to work.

We have our consumer profile with our business woman Francesca. She is from Santa Clarita California with the average age being 37-40 years old, and the average income being around $94,000 a year. Francesca is currently working towards getting her real estate license in the Santa Clarita area. She is engaged living with her fiancé and dog Jimmy Chew. Some of Francesca's hobbies aside from her work day include ceramics, stopping to grab a vanilla latte and listening to Harry Styles. Her favorite vacation spot is Rome, as she loves all of the scenery and the welcoming atmosphere. 

Starting out on the right side of the product board are 3 of our bag styles, which we see as the most popular sellers. We have also included a visual of the inside of one of the handbags, as they all look the same. To the left of the bags are all of our bag accessories which include chains, feet, magnets, and the UV luggage tag. Directly under the bags are all of the fabrics used in each of those styles. In the bottom left corner we have displayed our color pallet. We decided to create our color palette with flower petals as our brand represents Francesca’s ability to stop and smell the roses.

We decided to choose these neutral, calming colors, as they are very popular for the upcoming season. They are able to match with any outfit or make any outfit pop. All of the color names represent certain aspects of Santa Clarita California.

Here we have our sanitation pocket marketing video that will be displayed with our handbags. This video will allow customers to become more educated on what our sanitation pocket is and why it is so important.

We are Modern Chic and as a team, we decided that our handbags needed a little something special in order to stand out. We decided to create a UVC light sanitation pocket in all of our handbags. The pocket includes a two-bar UVC light with a small switch so you can turn the light on and off. And don’t worry about the batteries running out because it is charged by a solar panel that is placed on the luggage tag located on the outside of the bag. But why is this so important? Germs are everywhere. They can be transported in ways that you may not even think of and can carry harmful diseases that you did not even know existed. But no need to fear, our sanitation pocket is here to help. Anything from your glasses to your pencils can be safely cleaned by our sanitation pockets. For a cleaner and easier day, shop Modern Chic at KLAZET for a more germ-free environment!

Putting all of this into perspective, we have our brand analysis which includes our color palette along with our fabrics. Shown at the bottom, we have a visual of the UVC light that will be inside of our sanitation pockets. We also have seven croquis to display our bags and how they will be worn.

Here we have our line sheet that displays all seven of our bags. Within our collection, we have an array of prints and fabrics along with colors, sizes, and embellishments. We use a total of three fabrics, leather, nylon, and polyester for the lining. Our prints include solids, crocodile, snakeskin, and cheetah-embossed leather. The prices of our handbags are appropriate and achievable for our market due to the technologies, patterns, and embellishments we have added. For the Venice Tote, the dimensions are 11 and a half by 13 by 6 inches and our retail price is $160. The Ana Tote is more of a larger bag with the dimensions of 18 by 11 and a half by 6 inches and our retail price $120. With the same dimensions, the Barbara Tote has a retail price of $130. Our Beverly Ladylike has the dimensions of 11 and a half by 13 by 6 inches and our retail price is $170. The Laguna Ladylike is slightly larger with the dimensions of 13 by 13 and a half by 6 inches and our retail price is $190. For the Malibu Bowler, the dimensions are 10 and a half by 12 by 6 inches and our retail price is $150. And lastly we have our Monica Bowler bag with the same dimensions as the Laguna Ladylike bag retailing for $210. We expect that our Laguna Ladylike is going to be our best selling bag, followed by our Malibu Bowler and Venice Tote.

Showcased on the right we have our hang tags. On the front we have our logo and our name “Modern Chic”. For the back we added information about our brand and some details about why our UVC Light sanitation pockets are unique. We also added our instagram account to inform people about our social media presence. We added the white rose tag to grab the attention of our customers as a nice way to remember us. This rose is also displayed on the bottom of each bag as shown in the top left.

KLAZET is here to change the world of fashion by allowing opportunities for emerging brands and allowing them a space in the store to grow. Rycleis Lafond is one of the rising brands being sold in the KLAZET store. 

“Modern Chic” handbag styles range from $120  to $210 and will be sold at KLAZET through Rycleis Lafond. 

“Modern Chic” provides a quality, yet affordable handbag that is priced to help our customer sustain an image in a financially responsible way. 

When you walk into our retail space you are immersed in the roses aroma. As the busy world keeps running around you, we are inside stopping and smelling the roses. A pause from your busy day at work, a stop on your lunch break to enjoy life. You will first notice our handbags that are propped up on flower displays that are easily accessible for trying on. The mirror in the back can allow you to envision yourself taking this back to work with you. We have our glass table in the center that focuses on our UVC elements.

For a closer look at the glass table in the center of the room which displays the informational video about how useful our UVC pocket is in today's world. To show guests just how important our sanitation feature is, there is a blacklight on the table that is used to see how many germs are on your belongings such as, phone, keys, credit card, etc. After observing items through the blacklight they will then be placed under the UVC light which sanitizes them. To prove how good our UVC light is just place your belongings back under the blacklight and watch the germs disappear.

When creating our marketing campaign for we wanted to highlight the relaxed yet sophisticated look that Rycleis Lafond embodies. With a website to be featured on Klazet under the Rycleis Lafond page. Featuring a home page, and about page so customers can learn more about our brand as well as a page for our products where you can shop each style of bag. We also have store signage marketing our main selling point of the bags which is our UVC cleaning pocket which is a feature we offer in all of our handbags to keep of your belongings germ free. Lastly, we have a magazine ad showcasing each style of bag and the brand collaboration.

As you can see our brand flows nicely with the Rycleis Lafond Instagram page with curated posts to show what it would look like alongside the brand. Showcasing our logo as well as posts which are shown on a larger scale featuring our bags and top sellers.

Finally you are invited to the launch party of Rycleis Lafond and modern chic located in the Klazet storefront.  We wanted to create an inviting yet professional space for guests to shop with lots of floral accents to welcome them into Klazet. They are then offered our featured drink which is the Persian rosé as well as free gift bags which include a planner and a pair of sunglasses to accent the everyday business woman with an extra gift being a bouquet of roses with the modern chic logo inside for customers to remember us by. 

We hope we have inspired you to stop and smell the roses and are excited for you to shop modern chic.