SUMMER INTERNSHIPREPORT 2015

Submitted By: Srinath VermaMBA 2ND Year

UNIVERSITY OF LUCKNOWLUCKNOW

BRAND IDENTITY

*Strong brand identity- known for heavily embellished dresses and Casualwear.

*Recognizable logo- use of FCUK abbreviation in the past

Company Overview

French Connection UK was founded in 1972 by Stephan Marks, who is still a chief executive of the company, with a clear intention to offer well-designed, excellent quality and affordable clothes that appeal to the broad market .The idea behind the company has not significantly changed through the years and it is clearly stated in the brand’s mission statement:

“French Connection now offers a fashion-forward clothing range with a quirky spin on design, priding itself on quality and affordable prices which are design-led products presented in a unique and innovative way.”

FCUK: Retail,Price and Consumer Brand operates mainly within its own retail channels – online and in- store, but at the same time is presented worldwide in some of big department stores. According to the brand’s web site, the clothing line

is obtainable in over 30 countries around the world.

Price of the apparels depends upon its fabric and design, so it uses premium fabric and invests into an in- house designer which led to higher end of prices and is considered as a premium brand in the market.

Brand targets both male and female segmentsand focuses more on the 18+ to the range of 35 years old as they provide high end fashion clothing to the consumers.

FCUK Deals In

MENS: Shirts,T-shirts,Denim,Trousers,Shorts,Undergarments,Belts,Sunglasses,Wallets,Perfumes.

WOMEN:Dresses,Shirts,T-shirts,Top,Denim,Trousers,Skirts,Shorts,Bikiniwear,Hats,Purses,Perfumes

Key Performance Indicators*Sales – annual turnover, transaction made, basket spend, footfall - all against LFL and budget

*Loss prevention – Shrinkage loss, (stock loss or cash loss)

*Operational – availability, inventory integrity

*Salary

*Service – Complaints that are made

*HR development – training, coaching, staff turnover

*Variable costs – any expenses made at an additional cost are avoidable

KPI’S FOR SALES

Sales per hour – Statically compares one sales person with the other and determines who is efficient in selling and attending the customers.

Average Sale – Statically compares the average selling price of a sales person. The higher statistics shows that the person has a wide knowledge on the product and the less statistics reveals that he lacks in the product knowledge or effective description.

Items Per Transaction– determines the ability of a sales person compare to sale.

Conversion Rate – shows how many customers they have made from the visitors of the store.

Inventory Management & Daily count

Merchandise stocked for the future use in company’s warehouse to be used when the existing stock replenishes. Followed the basic procedure of on-floor and store room management. It was managed by the ways of maintaining a record of merchandise available in the store outlet according to the size and the sections being made in the store for the optimum utilisation of the space and the stock available. Maintaining the daily record of on-floor stock which constitute as “daily count” and on weekly basis it was counted and record was maintained and was termed as “Global Count”.

Standard Operating Procedure

Visual MerchandisingV.M is the floor plans and three-dimensional displays in order to maximize sales.Both goods or services can be displayed to highlight their features and benefits. The purpose of such visual merchandising is to attract, engage, and motivate the customer towards making a purchase.FUNCTIONS:*Location of store(visibility,branding,parking)*Store Design(interior,exterior,racks,lighting,colours)*Window Display(outer wall to attract customers)*floor layout(fixtures,racks are positioned)*Merchandise display(physical presentation of goods)*Signage(conveying message through signs and boards)

Billing & Cash Management

Billing is done with the software enabled by the company which constitute a software runs online and keeps record of merchandise,customers and transactions. Barcode reader enable to identify the article in such a manner that makes the billing easy and convenient. Cash is managed by counting it time to time and maintaining a record of transaction of cash and card. Cash management involves keeping the record of cash and card and daily sales have to deposit in the bank on daily basis so that it could be risk free to keep cash in the store. In fcuk store the bank representative collects the cash on daily basis.

THANK YOU