Objective:
This position is responsible for ensuring optimal brand positioning through strategic product assortment aligned with the target customer profile, and to achieve gross margin objectives while maintaining a healthy sell-through rate of 60%.
Key Responsibility:
Product Range:
- Develop and execute brand strategies aligned with target customer profiles and market positioning
- Plan category-wise assortment based on performance analysis, market trends, and future potential
- Define seasonal buying strategies using historical data and merchandising insights
- Conduct store grading based on geographic, economic, and brand alignment factors (e.g., elite vs. value-focused stores)
- Formulate seasonal procurement strategies considering previous product performance
- Develop pricing strategies based on perceptual value, competitive intelligence, and margin goals
- Coordinate directly with brand principals to procure merchandise
Order Management:
- Place procurement orders in line with the purchase plan to ensure timely deliveries as per service level agreements
- Monitor in-transit stock from suppliers to warehouse to ensure uninterrupted product flow
Vendor Management:
- Establish and sustain long-term relationships with suppliers to ensure fair deals
- Ensure on-time delivery of products and adhere to compliance with the contracts of purchase
Store Management:
- Conduct regular store visits to monitor product presentation and assess category performance
- Visit competitor outlets to gather market intelligence and trend inspirations
- Monitor stock cover levels and ensure purchases are planned within allocated budgets
- Train and support store teams to gather customer feedback and enhance product sell-through
Market and Competitor Awareness
- Stay informed about regional and global retail and fashion trends
- Track competitor activities, pricing strategies, and product positioning
Key Performance Indicators:
Quantitative KPI
- Gross margin target
- Sell through target
- Exclusive and NOS Business
- Week of cover for particular category
- Stock Ageing and Stock Turn
- Trend/Buy presentation
- Product training
Qualitative KPI
- Understand market trend
- Able to grasp business requirement
- Influence brand to customize requirement
Desired Experience:
- Bachelor’s degree in Fashion, Retail, or Business Management from a recognized institution, preferably from a reputed fashion institute
- 2-5 years of relevant experience in retail buying, with proven exposure to fashion or lifestyle categories
- Strong command of MS Excel and PowerPoint, with hands-on experience in data analysis, forecasting, and trend evaluation
- In-depth knowledge of product strategy, vendor management, range planning, pricing, and consumer behavior within retail markets.
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