Buyer Womenswear - Ralph Lauren

Key Objectives

Lead the selection and procurement of women's wear merchandise for Polo Ralph Lauren stores, ensuring alignment with brand identity and luxury standards.

Merchandise Assortment Management

• Develop and execute a thorough assortment strategy reflecting the iconic American style of Polo Ralph Lauren for women's wear, encompassing apparel, accessories, and footwear.
• Plan seasonal assortments considering regional and seasonal trends across India.
• Utilize market research, sales analytics, and customer feedback to guide product curation and highlight best-sellers.
• Incorporate innovative and exclusive items alongside classic Polo Ralph Lauren products.
• Create buying plans per sales targets and manage Purchase Orders with tracking for timely deliveries.
• Manage pricing targets, option plans, stock-to-sale plans, and open-to-buy calculations.

Vendor Relationship and Management

• Build and maintain robust relationships with international and domestic vendors, negotiating favorable terms and ensuring adherence to quality standards and brand criteria.
• Monitor and track vendor performance to resolve supply chain challenges promptly.
• Implement sourcing strategies aligned with brand values, ethical sourcing, and sustainability.
• Stay updated on vendor innovations and market trends, providing insights for strategic buying decisions.

Inventory and Stock Management

• Maintain optimal stock levels for women's wear, balancing customer demand and inventory costs.
• Analyze sales velocity and stock turnover to inform replenishments and clearance decisions.
• Work collaboratively with planning teams to align stock management with seasonal demand forecasts.
• Manage fill rates, online stock availability, dormancy, pullbacks, and inter-store transfers to maximize inventory value.
• Prepare detailed sell-through and photo sell-through reports using Excel.

Data and Information Management

• Ensure timely updates of brand catalogues, style masters, sell-through reports, and other departmental analyses.

Pricing Strategy

• Support pricing strategy development for women's wear balancing competitiveness with luxury positioning.
• Conduct price elasticity studies and competitive benchmarking.
• Collaborate in setting promotional and markdown pricing aligned with sales cycles.
• Monitor currency fluctuations affecting import pricing and recommend pricing adjustments based on sales data and market conditions.

Target Setting and Performance Tracking

• Break down monthly sales targets into product categories and monitor achievements.
• Develop merchandise plans and product performance analyses.
• Formulate stock and sales dispatch plans with allocation and size-wise assessments.
• Track dispatch versus planned allocation.

Sales Analysis

• Regularly assess women's wear sales metrics such as revenue, unit sales, and profit margins to identify trends.
• Gather and analyze customer feedback to enhance product offerings.
• Collaborate on forecasts and demand projections to optimize inventory planning.
• Recommend assortment modifications based on performance and customer demand.

Market Intelligence

• Stay updated on global and Indian fashion trends by attending industry events and exhibitions.
• Perform competitive benchmarking against other luxury brands.
• Analyze customer preferences and regional fashion nuances to customize assortments.
• Continuously gather relevant market data to adapt assortment strategies accordingly.

Visual Merchandising Coordination

• Work closely with Visual Merchandising teams to ensure product displays reflect brand image and seasonal themes.
• Advise on product placement, window and in-store displays, and mannequin styling for enhanced customer engagement.
• Coordinate launches and highlight collections for maximum visibility.

Core Business Contribution Monitoring

• Track category contribution percentages to total business on a Last Twelve Months basis.
• Identify designs for category expansion.

Retail Design Brief Support

• Assist in creating retail design briefs based on option grids and past season learnings.

Integrated Go To Market (IGTM) Planning

• Plan IGTM campaigns collaboratively with Visual Merchandising and design teams, including key store dressing and rollout across stores.

Cross-Functional Collaboration

• Engage with Planning, Marketing, Visual Merchandising, Operations, and HR teams to align buying strategies and support business objectives.
• Maintain communication with vendors and relevant internal teams to ensure timely deliveries and inventory efficiency.
• Support marketing campaigns and promotional events ensuring product alignments.
• Facilitate stock movements and replenishments with Operations.

Team Leadership

• Lead and mentor a team of buyers fostering professional growth and alignment to brand values.
• Conduct performance evaluations, provide feedback, and support recruitment activities.
• Promote a collaborative and motivated team culture through effective communication and delegation.