msg fashion show

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MSG Fashion Show Topic 3 Group 10: Allison, Christian, Lauren, Kenny

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MSG Fashion Show

Topic 3 Group 10: Allison, Christian, Lauren, Kenny

IDEAHost a fashion show at The World’s Most Famous Arena● On site, rather than renting/building a new venue ● More profitable

Local and young designers trying to break out● Look to showcase various outfit styles● Up-and-coming designers/local boutiques

2014 NYFW ● 300 runway shows attended by >100,000 people● $900 million in revenue for the city

Opportunity to capitalize. ● Very few large scale fashion events ● Most are exclusive● Good chance to use our assets

Macy's Presents Fashion's Front Row at the Theater

Why this event?

● Objective: to bring a different element into the Garden’s portfolio

● You need an easy place for your audience to get to - needs to be a place that the

audience will identify with the community

● New York: a lot of artistic talent; another opportunity to expose designers

● How to attract designers

● Shows tend not to last more than half an hour

● Evening time show → provide entertainment for a couple of hours

○ Rockettes

The Event - Features● Ammateur models● Clothing featuring up and coming designers

○ project runway people○ FIT○ Parson’s School of Design○ LIM

● Styles such as everyday wear, activewear, formal wear● Breaks in between segments with local DJs and artists● Giveaways from make up companies/local businesses ● Create a hashtag to follow along ● Opportunity to buy some of the clothing

Who We Need ● Backstage Manager

● Budget Coordinator

● Casting Manager

● Entertainment Manager

● Hair and MUA

● Promotional Manager

● Runners

● Show Producer

● Stylist/Wardrobe Manager

Marketing Plan

● Target Audience: primarily young adults (18-24), those interested in fashion● Market your fashion show using techniques designed to target an audience

likely to want to purchase your clothing.

● Marketing Mix: ○ Email marketing○ Inclusion in e-blasts for similar MSG shows○ Social media marketing - using our Twitter & Facebook assets○ Promoted ads on Spotify & Pandora popular music stations○ Special invitations - Celebrities

● Marketing partnerships:○ Potential fashion brands/companies○ Designers

Benefits

● NY is a fashion capital - creates a relationship with the fashion community● Would reach a broad range of demographics; young, old, American, foreign,

etc.● Relevance - fashion is always current in pop culture; keeps MSG tied into

changing trends● Attention of a young audience - making attendance affordable & accessible

would bring in younger people (for example, college fashion students)● Press - large-scale fashion events tend to make headlines; increasing

potential audience impressions

Operations/logistics/bringing event to life

- Big time show- Red carpet event- Music- Special performances and appearances- Set up of stage

Resources We Have

- TV network- Big screens- Venue- Cameras- Sports teams and athletes- Sound system- Strong existing- Partnerships

Resources necessary

- Models- Clothing- Runway setup and design- Expertise in fashion

industry- New partnerships

Fashion Event Specific CostsHair and Makeup: $0 to $100,000Stylist: $5,000 to $20,000Public Relations: $10,000 to $25,000 for a monthly retainerModels: $0 to $200,000 Lighting: $10,000 on up Invitations: $5,000 on upCelebrities appearances: dependent on who and what they do. - Eg. Beyonce can get paid up to $100,000 just to be thereapprox total = 500,000

These numbers usually are for smaller to mid scale venues. If held at the arena, we are looking at bigger expenses.

More Costs - from looking at similar events held in the arena

- Up to $1,000,000 payout to the fashion designers and people we bring in for the show.

- Up to $1,000,000 for Building expenses, advertising, food & beverage, labor, other expenses, etc.

- Total expense is approximately $2,500,000

Revenue

- Capacity in the arena is roughly 19000.- Dependent on ticket price levels which booking agencies decide after

factoring tax and facility fees, but ticket sales = cold, hard cash.- If we use similar ticket pricing as a boxing event: front row tickets cost up to

$1500, and sell up to 17,000 tickets, broadcast on Networks, factor in food and beverage, and merchandise.

- Approximately $3,000,000

Profit calculation

Profit = Revenue - Expenses

$3,000,000-$2,500,000 = $500,000

Profit will vary depend on the cost range for the fashion event specific costs.

Profits

- Donate small percentage to charity - either to Garden of dreams or for a different cause.

Outlook- Can be a yearly event or one time only. It depends on the outcome of the first

event.

Risks and concerns

- Competition with all the other events happening during fashion week.- Differentiating our event from others.- Whether or not we can properly market and promote the event to reach

certain level of ticket sale- Normally, the first time running a fashion event doesn’t generate too much

profit.

Next Steps

- More research on how to plan a fashion show- Finding sponsors and creating partnerships- Spending the time to figure out actual numbers for this event: ticket pricing,

cost expenses, projected revenue, profit.