Job
Description
Job Purpose: The Beauty Buyer at Galeries Lafayette India will be responsible for curating and driving the selection, purchase, and merchandising of beauty products across skincare, cosmetics, fragrance, and other beauty-related categories. The role involves managing supplier relationships, ensuring the delivery of high-quality products, and aligning the product assortment with market trends and customer preferences. The Beauty Buyer will contribute to achieving sales, margin, and brand objectives while promoting Galeries Lafayette’s position as a leading destination for luxury beauty products in India. Key Result Areas: Product Assortment & Sourcing Develop a comprehensive assortment strategy that aligns with Galeries Lafayette's brand identity and luxury standards for beauty products. Oversee the selection of a wide range of beauty product offering includes of skincare, makeup, fragrance, and wellness items, ensuring they uphold GL’s luxury brand positioning. Plan and execute seasonal assortments, taking into account India's regional variations and seasonal preferences. Utilize sales data, market research, and customer feedback to make data-driven decisions when curating the assortment and identifying top-performing products. Innovate the assortment by introducing new and exclusive products while balancing the inclusion of Galeries Lafayette's timeless classics. Creating in season express orders on a need basis. Set ARP targets for product categories Create Option plan and conduct depth analysis Formulate Stock to Sale plan for a season – EOM / BOM Vendor Management Establish and nurture strong relationships with a network of international and domestic vendors, negotiating favorable terms, pricing, and delivery schedules to achieve the best value – Order Confirmation Management. Collaborate with vendors to maintain high-quality product standards, ensuring that products meet Galeries Lafayette's quality and design criteria and customer expectations. Develop and implement sourcing strategies that align with brand values, sustainability goals, and ethical sourcing practices. Stay informed about vendor trends, innovations, and market conditions, sharing relevant insights with the buying team for strategic decision-making. Build positive long-term relationships with vendors Tracking Stock Management Plan, monitor & maintain Ideal stock inventory levels for beauty products, ensuring that stock levels are optimized to meet customer demand while minimizing excess inventory. Analyze sell-through rates and stock turnover to make informed decisions regarding replenishments, restocking, and stock clearance. Collaborate with the Planning Team to align inventory management practices with merchandise planning and demand forecasting for seasonal variations. Implement inventory optimization strategies to minimize holding costs and ensure that the most popular products remain readily available to customers. Collaborate with the team to make informed decisions on markdowns and clearance strategies for slow-moving or seasonal items, optimizing profitability. Plan for inter-store transfers to achieve maximum value (AMM). Fill rate management. Ensure timely online availability of stock. Dormancy within specified norms Pullback within specified norms Maintain Sell-thru reports on Excel Photo Sell Through report Pricing Strategy Work on pricing strategy for exclusive imported brands Provide inputs for Monthly Target setting in each category Breaking up of Monthly targets into product category Target Vs achievement Merchandise plan report Product performance Lk2Lk Being a custodian in formulating the Stock & sale plan Product category wise dispatch plan Planned Vs actual Allocation plan for each store as per dispatch plan and size wise analysis Tracking allocation vs. actual dispatches Sales Analysis Regularly evaluate the sales performance of Galeries Lafayette Beauty products, analyzing key metrics such as revenue, units sold, and profit margins to identify trends and opportunities. Collect, analyze, and interpret customer feedback, reviews, and comments specific to Beauty products, providing insights into customer satisfaction and areas for improvement. Collaborate with the buying team to assess the performance of specific products, styles, and brands within the Beauty products category, identifying top-performing items and areas where adjustments may be needed. Assist in the creation of sales forecasts and demand projections for Beauty products, leveraging historical sales data, market insights, and trends to refine sales expectations and support inventory planning. Provide data-driven recommendations for assortment adjustments, including product additions, exclusions, or modifications, with the goal of improving sales performance and better aligning with customer demand. Market Intelligence Keep abreast of global and Indian fashion trends, attending fashion shows, industry events, new launches and trade exhibitions to gather insights and inspiration for the Beauty category. Conduct competitive analysis to benchmark Galeries Lafayette's Beauty offerings against other luxury brands in the market, identifying areas of opportunity and differentiation (Competition Mapping). Analyze customer data, feedback, and surveys to gain a deep understanding of customer preferences and incorporate them into the assortment strategy. Identify and understand the varying fashion preferences and regional nuances within India to tailor assortments accordingly. Continuously gather market intelligence, including consumer behavior, emerging trends, and competitor strategies, to adapt the assortment to changing market dynamics. Visual Merchandising Alignment Partner closely with the Visual Merchandising team to ensure that Beauty products are showcased effectively, aligning with Galeries Lafayette's visual merchandising guidelines and luxury brand image. Provide expert input and recommendations on the strategic placement, arrangement, and presentation of Beauty products, including the coordination of window displays, in-store displays, and mannequin styling. Coordinate with the Visual Merchandising team to align product displays with seasonal themes and emerging fashion trends, ensuring that the visual presentation remains fresh and appealing to customers. Collaborate with Visual Merchandisers to plan the introduction of new arrivals and the spotlighting of highlighted collections, ensuring that these products receive prominent visibility within the store. Understand customer behavior and shopping patterns to recommend visual merchandising strategies that enhance customer engagement and drive sales, ultimately contributing to the overall success of the Beauty category. Track the Core Business Contribution Monitoring to enhance the category contribution % of total business of LTL basis Identifying new designs to be added to this category Integrated Go To Market (IGTM) Planning for a successful IGTM story along with VM and design Dressing up one key store for the look Roll – out across stores Cross-Functional Collaboration Collaborate seamlessly with cross-functional teams, including Planning Team, Marketing Team, Visual Merchandising Team, Operations Team & HR Team to ensure the successful execution of buying strategies and alignment with overall business objectives. Maintain open lines of communication with vendors, sharing relevant information with procurement and supply chain teams to ensure timely deliveries and efficient inventory management. Share sales data, customer feedback, market insights, and trends with cross-functional teams, providing valuable inputs for merchandise planning, marketing campaigns, and operational strategies. Work closely with the Marketing team to coordinate and support promotional activities and sales events, ensuring that marketing efforts are in sync with Beauty products assortments and customer interests. Collaborate effectively with the Operations team to facilitate efficient stock movements, replenishments, and inventory control, ensuring that Beauty products are consistently available to customers while optimizing stock levels. Team Leadership Lead, guide, and mentor a team of buyers, fostering their professional development, and ensuring alignment with Galeries Lafayette's brand values and standards. Conduct regular performance evaluations and goal-setting meetings with team members, providing constructive feedback and support for their growth. Create a collaborative and positive team environment where team members are motivated, engaged, and aligned with the organization's mission and objectives. Assist the HR team in the recruitment and onboarding of new team members, identifying talent and contributing to the development of a skilled and effective buying team. Maintain effective communication within the team, delegate responsibilities appropriately, and ensure that team members are well-informed and equipped to execute their roles effectively. Show more Show less
