Buyer Womenswear - Ralph Lauren

Drive the selection & sourcing of Merchandise assortment/mix for women’s wear PRL stores

• Develop a comprehensive assortment strategy that aligns with Polo Ralph Lauren's brand identity and luxury standards for women's wear products.
• Oversee the selection of a wide range of women's wear items, including clothing, accessories, and footwear, ensuring they reflect the brand's iconic American style.
• Plan and execute seasonal assortments, taking into account India's regional variations and seasonal preferences.
• Utilize sales data, market research, and customer feedback to make data-driven decisions when curating the assortment and identifying top-performing products.
• Innovate the assortment by introducing new and exclusive products while balancing the inclusion of Polo Ralph Lauren's timeless classics.
• Create appropriate buying plan for women’s wear (WW) category as per Sales targets for PRL stores – Updating Order Master.
• Create Purchase Orders (POs), review Order Confirmation (OCs) and track the progress of orders to ensure on-time delivery.
• Creating in season express orders on a need basis.
• Set ARP targets for product categories
• Create Option plan and conduct depth analysis
• Formulate Stock to Sale plan for a season – EOM / BOM
• OTB calculation

Vendor Management

• Establish and nurture strong relationships with a network of international and domestic vendors, negotiating favorable terms, pricing, and delivery schedules to achieve the best value – Order Confirmation Management.
• Collaborate with vendors to maintain high-quality product standards, ensuring that products meet Polo Ralph Lauren's quality and design criteria and customer expectations.
• Monitor vendor performance, track order fulfillment, and address any supply chain issues promptly to maintain a consistent flow of merchandise.
• Develop and implement sourcing strategies that align with brand values, sustainability goals, and ethical sourcing practices.
• Stay informed about vendor trends, innovations, and market conditions, sharing relevant insights with the buying team for strategic decision-making.
• Build positive long-term relationships with vendors

Tracking Stock Management 

• Plan, monitor & maintain Ideal stock inventory levels for women's wear products, ensuring that stock levels are optimized to meet customer demand while minimizing excess inventory.
• Analyze sell-through rates and stock turnover to make informed decisions regarding replenishments, restocking, and stock clearance.
• Collaborate with the Planning Team to align inventory management practices with merchandise planning and demand forecasting for seasonal variations.
• Implement inventory optimization strategies to minimize holding costs and ensure that the most popular products remain readily available to customers.
• Collaborate with the team to make informed decisions on markdowns and clearance strategies for slow-moving or seasonal items, optimizing profitability.
• Plan for inter-store transfers to achieve maximum value (AMM).
• Fill rate management.
• Ensure timely online availability of stock.
• Dormancy within specified norms
• Pullback within specified norms 
• Maintain Sell-thru reports on Excel
• Photo Sell Through report

Information/Data Management

• Timely Updating Brand Catalogues.
• Updating UDA & BNF in style masters.
• Updating Brand sell-through reports.
• Creating top seller bottom seller reports.
• Preparing Sell-through reviews & department reviews.

Pricing Strategy

• Assist in developing pricing strategies for women's wear products that balance competitiveness with maintaining the luxury brand positioning of Polo Ralph Lauren.
• Conduct price elasticity analysis and competitive pricing benchmarking to determine optimal price points for different product segments.
• Collaborate with the team to set promotional pricing and markdown strategies that align with seasonal sales events and clearance periods.
• Stay informed about currency exchange rates and their potential impact on pricing for imported luxury products.
• Pricing Adjustments: Continuously assess pricing strategies and make recommendations for adjustments based on sales performance, market dynamics, and customer value perception.

Provide inputs for Monthly Target setting in each category

• Breaking up of Monthly targets into product category
• Target Vs achievement
• Merchandise plan report
• Product performance Lk2Lk

Being a custodian in formulating the Stock & sale plan

• Product category wise dispatch plan
• Planned Vs actual
• Allocation plan for each store as per dispatch plan and size wise analysis
• Tracking allocation vs. actual dispatches

Sales Analysis

• Regularly evaluate the sales performance of Polo Ralph Lauren women's wear products, analyzing key metrics such as revenue, units sold, and profit margins to identify trends and opportunities.
• Collect, analyze, and interpret customer feedback, reviews, and comments specific to women's wear products, providing insights into customer satisfaction and areas for improvement.
• Collaborate with the buying team to assess the performance of specific products, styles, and brands within the women's wear category, identifying top-performing items and areas where adjustments may be needed.
• Assist in the creation of sales forecasts and demand projections for women's wear, leveraging historical sales data, market insights, and trends to refine sales expectations and support inventory planning.
• Provide data-driven recommendations for assortment adjustments, including product additions, exclusions, or modifications, with the goal of improving sales performance and better aligning with customer demand.

Market Intelligence

• Keep abreast of global and Indian fashion trends, attending fashion shows, industry events, new launches and trade exhibitions to gather insights and inspiration for the women's wear category.
• Conduct competitive analysis to benchmark Polo Ralph Lauren's women's wear offerings against other luxury brands in the market, identifying areas of opportunity and differentiation (Competition Mapping).
• Analyze customer data, feedback, and surveys to gain a deep understanding of customer preferences and incorporate them into the assortment strategy.
• Identify and understand the varying fashion preferences and regional nuances within India to tailor assortments accordingly.
• Continuously gather market intelligence, including consumer behavior, emerging trends, and competitor strategies, to adapt the assortment to changing market dynamics.

Visual Merchandising Alignment

• Partner closely with the Visual Merchandising team to ensure that women's wear products are showcased effectively, aligning with Polo Ralph Lauren's visual merchandising guidelines and luxury brand image. 
• Provide expert input and recommendations on the strategic placement, arrangement, and presentation of women's wear products, including the coordination of window displays, in-store displays, and mannequin styling.
• Coordinate with the Visual Merchandising team to align product displays with seasonal themes and emerging fashion trends, ensuring that the visual presentation remains fresh and appealing to customers. 
• Collaborate with Visual Merchandisers to plan the introduction of new arrivals and the spotlighting of highlighted collections, ensuring that these products receive prominent visibility within the store.
• Understand customer behavior and shopping patterns to recommend visual merchandising strategies that enhance customer engagement and drive sales, ultimately contributing to the overall success of the women's wear category.

Track the Core Business Contribution

• Monitoring to enhance the category contribution % of total business of LTL basis
• Identifying new designs to be added to this category

Help in creation of Retail Design Brief

• Designing a retail brief to design – option grid & learning of past season

Integrated Go To Market (IGTM)

• Planning for a successful IGTM story along with VM and design
• Dressing up one key store for the look
• Roll – out across stores

Cross-Functional Collaboration

• Collaborate seamlessly with cross-functional teams, including Planning Team, Marketing Team, Visual Merchandising Team, Operations Team & HR Team to ensure the successful execution of buying strategies and alignment with overall business objectives.
• Maintain open lines of communication with vendors, sharing relevant information with procurement and supply chain teams to ensure timely deliveries and efficient inventory management.
• Share sales data, customer feedback, market insights, and trends with cross-functional teams, providing valuable inputs for merchandise planning, marketing campaigns, and operational strategies.
• Work closely with the Marketing team to coordinate and support promotional activities and sales events, ensuring that marketing efforts are in sync with women's wear assortments and customer interests.
• Collaborate effectively with the Operations team to facilitate efficient stock movements, replenishments, and inventory control, ensuring that women's wear products are consistently available to customers while optimizing stock levels.

Team Leadership

• Lead, guide, and mentor a team of buyers, fostering their professional development, and ensuring alignment with Polo Ralph Lauren's brand values and standards. 
• Conduct regular performance evaluations and goal-setting meetings with team members, providing constructive feedback and support for their growth.
• Create a collaborative and positive team environment where team members are motivated, engaged, and aligned with the organization's mission and objectives.
• Assist the HR team in the recruitment and onboarding of new team members, identifying talent and contributing to the development of a skilled and effective buying team.
• Maintain effective communication within the team, delegate responsibilities appropriately, and ensure that team members are well-informed and equipped to execute their roles effectively.