Titan - Manager - Product & Merchandising - Zoya (6-15 yrs)
Reporting to: Business Head-Zoya
1. Scope of the role:
- Product management - Conceptualizing and Launching products
- Managing product lifecycles end to end - new product launches, product range management, liquidation, Pricing, Packaging, effective display etc
- The profile determines product range, inventory levels, pricing, promotions/offers in the specific product category to maintain a balance between the sales growth and profitability growth while ensuring an optimal inventory level required for the category.
- Tracking consumer needs, changing consumer preferences, trends and accordingly launching new products and changing relevant product mix
- The profile works across the existing markets and uses analytics and product information to deliver the objectives.
- The role interfaces with Retail and Marketing in order to drive the category performance.
- Liasoning with internal (design, sourcing, NPD ) & external agencies (vendor, CFAs, Supply chain) to deliver unique/relevant collections to the market
2. Job Profile
Product Range :
- Delivering product collections as per customer need/trend and maintaining effective sell-through
- Ensuring product gross margins for respective product categories
- Managing the entire universe of designs/products
- A decision on rationalization of the designs/products based on performance in terms of profitability or sales
- Identification of product gaps and need for refreshers based on feedback from retail, market trends and also analytics to decide on the introduction of these into the range. Using these, build briefs for NPD / New Design / New Collections.
- Evaluate sales performance at variant level to decide on bestsellers that would be populated and supported through the chain. Also, evaluate the performance of best sellers to decide on drop outs on a periodic basis.
- Understanding competition benchmarks in terms of the ranges of the category and using these to define the terms on which Zoya will compete in the market place
- Identify a set of benchmark products or Key-Value Indices that would form a competitive reference to establish the difference between competition and Zoya empirically.
- Manage the pricing of products in each category and price / weight band to optimize the mix in terms of the difference to the market while delivering the profitability of the category.
- Decide on the pricing curve for products in a particular category and price / weight band based on relative design differences and the premium these can drive.
- Take a decision on the correction of pricing/promotion of a product that has a suboptimal level of sales performance for price reasons.
Inventory and Distribution :
- Establish the optimal range of designs required at each category and price/weight band so as to provide an optimal choice to the customer.
- Decide on the optimal inventory representation in order to deliver the sales and profitability expectations - through the model stock and norm at the store level.
- Review the age of stocks and decide on promotions / offers for liquidation of these or to be taken for melting as per the policy.
- Review the sales performance of stocks at each store level to decide on addition/deletion/ movement of stocks between stores at a variant level within each category and price/weight band.
- Decide on back end buffer stock levels required at variant level in order to support collections / best sellers
3. Key Deliverables :
- Achieving the sales target
- Achieve the profitability target
- Ensure availability of right merchandise at the right time
- Optimize inventory turns for the brand
4. The right person:
- MBA with a work experience of 6-15 years
- High Analytical Skills and Data Interpretation
- Well versed with jewellery products and techniques
- Good grasp on Trends in jewellery/luxury categories, consumer understanding and ability to convert consumer insights into business initiatives
- High on learning capabilities
- High degree of co-ordination abilities