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Job description / Role
Role Objective:
Responsible for planning, selecting, product development and purchasing quantities of goods and merchandise that are sold in stores and building vendor relationships in order to maximize sales performance and gross margin within a product category. Source new and review existing goods to ensure their product mix remains competitive. Responsible for the timely placement of purchase orders and delivery of materials to meet customer order requirements and maintain stock inventory levels within approved guidelines. Maintain clear understanding of the organizations customers, the prices they’re willing to pay and the likely demand for products. Reacting to and forecasting market trends and changes are key aspects of the job
Core Responsibilities:
• Formulation of merchandise strategy to promote growth, increase market share, define new categories and sourcing opportunities.
• Develop individual vendor strategies for all brands appropriate to area of responsibility which maximize merchandise profitability, payment terms, and co-op programs, as well as optimizing any discretionary opportunities such as close-outs or markdown funds.
• Completion of annual merchandise budgets (sales, stock, discounts and margin) with planner to support achievement of merchandise strategy
• Prepare optimal seasonal assortment plan by category for each type of store, following merchandise guidelines and instruct local merchandise team accordingly which results in achieving sales, stock turn, and margin goals
• Work with Planners and Allocators to determine optimal assortment mix
• Approve department/category/vendor roll-up and merchandise plan prepared by planner, in accordance with Buyer input
• Liaise with new and existing suppliers and place seasonal orders as well as replenishment orders when required
• Shop market and competition regularly to ensure execution of planned strategy in order to achieve competitive differentiation in market
• Analyze past sales patterns to anticipate trends in consumer buying pattern
• Closely monitor and respond to new product in the business
• Constantly review sales performance of product and timeous review stock inputs to ensure availability of supply
• Effectively plan and manage stock to operate within approved levels, minimize risk of problem product and control ageing
• Regularly review performance indicators, such as sales, margin, sell-thru, stock turn, stock cover and GMROI
• Analyze sales and stock, and take rational decisions to effectively control stockholding and optimize profitability
• Responsible to achieve overall Sales, Gross Margin and Stock Turn
• Provide insights on sell-thru targets by category/brand/store
• Prepare and present post seasonal reviews
• Prepare and present range reviews
• Train and present new ranges to store managers and department managers
• Liaise with training department and vendors to ensure in store product training is provided
• Assist visual merchandisers in planning store layouts and merchandising to maximize potential sales and profitability Work with the Marketing department in order to present sales promotions, campaign activities, season launches etc
Skills
Competencies:
Technical:
• Assortment and Product Planning
• Brand Management
• Business Acumen
• Commercial Awareness
• Communication (Verbal, Written)
• Computer and Software Literacy
• Financial Reporting and Budgeting
• Logistics and Supply Chain
• Presentation
• Product and Fabrication Development
• Product Knowledge
• Relevant Laws and Regulations
• Research
• Retail Operations
• Sales Management Vendor Management
Behavioral:
• Accuracy
• Analytical Ability
• Attention to detail
• Coaching and Monitoring
• Flexibility
• Independence
• Leadership
• Negotiation and Influencing
• Personal Motivation
• Planning and Organizing
• Proactivity
• Process Excellence
• Productivity
• Teamwork Time Management
Requirements
Education Qualifications:
• University degree in Business Administration or similar field from a recognized university
• Knowledge of luxury trends, brand and designers
• Have an instinctive feeling about future product concepts
• A degree in fashion or textiles
Experience:
• 4-5 years of experience in the retail industry of which 3 years preferably in Multi-branded sports retail.
About the Company
Al Mana is one of the largest and most diversified groups in the region, operating over 55 companies in 8 countries and employing over 3500 personnel. Industries that we operate in include automotive distribution and services, real estate and investments, retail and luxury fashion, F&B, engineering, technology, media and entertainment. The group covers most areas of retail including luxury goods, beauty, fashion, home interiors, watches and jewellery. Operating over 300 outlets, Al Mana represents some of the largest and most successful brands in the world.