Established in 2013 by childhood friends, Marcus Fairfax Fountaine and Felix Favor Parker, Fairfax & Favor burst onto the footwear industry as a luxury, British-born lifestyle brand. In three short years, they’ve grown from an idea between two childhood friends to a multi-channel shopping destination that generates worldwide sales and almost 50 wholesale partners. With an annual turnover now in excess of £3m per annum, this is a modern day British fashion success story.
Fairfax & Favor is now rapidly expanding their product offering to meet growing demand. As part of this process they wanted to ensure they stocked the best possible product lines to avoid having to discount their premium brand to shift overstocked lines.
Product Future from Mallzee gave the brand the ability to test potential lines based on the sample image of the product, before financially committing to stock ordering.
This approach meant they were able to ensure they bought the correct stock but it also created a unique resource to help increase accounts with wholesalers and retailers, vital when they didn’t have a long trading history.
Across a 6 month period Fairfax & Favor ran 3 separate campaigns with Product Future, as well as listing their full product library in the award winning Mallzee shopping app.
increase in turnover and wholesale orders since starting to work with Mallzee.
Working with Mallzee has greatly improved our stock management as we are quickly able to identify the winners and the losers. Cally and his team are a joy to work with and I wouldn’t hesitate to recommend Mallzee as a key feature, as holding the wrong stock can severely harm your working capital.
Felix Favor Parker, Founding Director of Fairfax & Favor
Product Future campaigns show pre-release products to consumers as part of their shopping experience and allows them to rate the products through the Mallzee app’s ‘Tinder Style’ interface. For a campaign to be successful the products are targeted to a specific target demographic and to ensure statistical relevance there needs to be in excess of 400 consumer ratings on each product. The Mallzee Insights team worked with Fairfax & Favor to gain a deep understanding of their key consumer and worked to acquire and target the most relevant users, specifically for the campaign.
Across three campaigns Product Future predicted the best and worst performers from each collection. The categories ranged from bags and boots to accessories. The overall hit rates for these campaign was over 80% and directly correlated to the sales performance of the collections once they were brought to market. This data was used to create resources to improve both Direct to Consumer and Wholesale channels.
Product Future data was used to increase Fairfax & Favor’s turnover from wholesale channels as the insights generated were used to convince partners to stock additional lines and increase stock quantities. The individual consumer profiling on each product was also used by their web team to improve targeting on digital channels to help increase full price sell through.
Mallzee is committed to helping Fairfax & Favor continue their strong growth in the coming months and years. At the end of 2017 Fairfax & Favor will run their full summer collection through Product Future ahead of purchasing decisions.
Fairfax and Favor are a modern day British Fashion success story and one that is going from strength to strength. In the current climate it’s clear that companies that put consumer opinion at the core of their offering are able to grow quickly and most importantly profitably. I have no doubt 2018 is going to be the most successful year to date for this great emerging brand.
Cally Russell, CEO Mallzee Insights