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at Colton's Couture
Location Richmond, BC, Canada
Date Posted Aug 08, 2019
Category Buying
Job Type Full Time

Description

We are looking for someone that comes with 5+ years experience as a buyer/planner in luxury & designer labels (ex. Prada, Gucci, Balenciaga, Celine, etc.)

-knowledgeable in both European & North American labels
-knowledge of product categories and mix required for a multi-location retail business
-knowledge of what the local market and specifically the Asian demographic group’s preferences are in terms of brands, sizing and category
-this role will be responsible for the planning, procurement and replenishment of product for our retail arm of the business
-to facilitate and lead change, continuously evaluate procedures within the buying office and provide/action recommendations for more effective business practices
-to lead, build and develop a high performance buying team and provide mentorship where required to develop the buyers under their supervision
-the goals of this position are to achieve or exceed both operational and financial objectives for each season in advance through pre-planning using both historical sales data, adjusting for growth, market trends, and competition in the retail spaces where our stores are located.
-operational objectives including ordering, monitoring, and replenishing of inventory for all retail locations
-financial objectives include analysis of historical sales data to forecast merchandise requirements by category, adjust for anticipated changes in trends, adherence to financial budgets, achievement of margin requirements by category by setting pricing strategies
-to monitor closely the stock turns, to make decisions based on inventory data to determine which items require replenishment or go on clearance
-to work in conjunction with store level staff and marketing staff to introduce new brands, product categories, promote and organize sales & clearance events for slow moving inventory
-to select from offers, or go on buy-trips or attend market shows as required to open new accounts, maintain existing accounts, place orders with accounts to assemble the collection for the season and product assortment. Travel may be national or international as required
-to buy product, align the “buying” to the strategy through planning, selecting the range, type, quantity, colour, sizing, pricing and negotiate competitive pricing to purchase within budget and drive profits
-assess competitors, analyze buying patterns of customers, and predict future trends
-to select quality, reliable vendors to source the best or most desirable brands and products offered at the best possible terms
-responsible for generating, entering, and managing Purchase Orders according to plan and forecast
-review of outstanding POs and follow-up with vendors to ensure timely delivery of merchandise, negotiate discounts or cancellations on late deliveries as appropriate
-to manage open-to-buy to maximize business opportunities and inventory control
-be proficient with all merchant systems and inventory management system, use of reports, and monitoring of inventory levels and take actions to either replenish, sell-out, or go on clearance
-check store merchandise assortments, displays, stock levels, consult with store supervisors and sales staff to determine customer feedback
-work with marketing department and vendors, to maximize brand exposure, brand awareness and knowledge, with the purpose of increasing sales & profitability; participate in promotional activities
-arrange and execute annual sales clearance events for moving aged product and convert slow-moving inventory back to cash
-negotiate with vendors for marketing co-op, product specialist visits, special events/personal appearances to reinforce brand
-ensure advertised merchandise is adequately quantified and delivered on time.