2. Company Purpose -to provide fashionable women with upscale and eco-friendly clothing. -to showcase, quality, well-constructred fashions from a team of unique designers and artists. -to help women network in fashion while dipping a root in philanthropy and doing good. -to deliver higher end clothing that has an eco-friendly flair. Company Objectives -to maintain high standards in product quality that can be relied upon. -to maintain valuable relationships with vendors, customers, buyers, marketers, philanthropists and other personnel in the industry. -to deliver excellent products & customer service. -generate sales and narrow down on company costs to maintain profit margins.
3. The Team CEO/CREATIVE DIRECTOR: Ancy Baby CFO: Jim Henski DESIGN TEAM: KidanMerth, Carolyn Hess MARKETING/PR: Stacey Hunt PRODUCTION: Lily Ahn DISTRIBUTION/LOGISTICS: Valerie Ruiz TECHNICAL DESIGN: Mark Pout
4. Market Summary High Fashion market past, present, and future. - Luxury market involves luxury consumers who see apparel and accessories as more of a necessity than a luxury. Which is precisely why small boutiques and personalized customer service focused retail is successful. To the luxury consumer, fashion is a requirement. Remarkably, the luxury goods market, of which Silpi is a part due to the designer brand it will carry, has remained recession-proof as indicated by market research. When comparing boutique to online shopping, women are geared to online shopping more due to various reasons. The emerging generation of luxury shoppers are clearly willing to spend money if they like the product regardless of the recession period. This is the reason why the luxury market continues to grow. - Although domestic sales will contribute most to skyrocketing sales based on customer base, it is important to keep in mind emerging markets with demand for high-fashion. Emerging markets include markets in South Africa, UAE, Singapore, India, Russia, Brazil, etc.
5. Business Concept Silpi defines an Artisan in Indian. This is a designer brand that is eco-friendly infusing unique dyeing, weaving and embroidering methods for creating beautiful clothing designed to captivate and inspire. Not only is the clothing line trendy and upscale, it is also eco-friendly (one of the rare characteristic in the upscale fashion world). The uniqueness of Silpi clothing line lies in the factors that produce the garment. Starting with the precise fabrics, we refine the process of designing, creating and producing with a keen oversight adhering to and meeting the standards of eco-friendliness. Producing limited quantities (less than 4000) garments per season, we can monitor the production process very closely to achieve the high-quality of goods. Through our website, we will also provide style assessments, special orders and alterations on special orders for our customers. Our strategy is to team up with luxury-defining stores (online & retail) to sell our high quality garments without compromising style and ensuring broad appeal. This includes major department stores as well as selective boutiques and also sales through personal shopping methods. As the demand for upscale eco-friendly clothing grows, Silpi will be at the forefront offering elegant clothing while practicing its eco-friendly philosophy.
6. Customer Age between 22-45 Fashion conscious College educated, Career focused Income of at least $59,000. Resides in metropolitan cities Can be considered a socialite with broad range of friends, networks and connections. Active in community through charity, philanthropic works.
7. Competition Silpiwill be carried in major department stores like Barney’s New York, Bloomingdales, Neiman Marcus and various other online stores focused on Eco-friendly luxury market, our direct competitors include brands like Tory Burch, Marc Jacobs, Etro, Tracy Reese, Nanette Lepore, BCBG, Edun, etc. The main advantage on the selling floor is though that these brands little or no incorporation of Eco-friendliness. The creative designs and names are the only features that sells them currently. Industry advantage Retailers over UK and in US are growing the additions of eco-friendly products; stores like Barneys New York, Edun, H&M, Nike, Bloomingdales, Patagonia, Wal-mart. The most recent high street retailer that has jumped on board is the mass market giant; Sweden’s Hennes & Mauritz (H&M) and UK-based Marks & Spencer; recognizing the market for eco-friendly fashion products and that it can be a good business investment.
8. Financial Plan Silpi’s start up financing will be through personal investments of direct parties involved as well as long-term bank loans. As it is a new small business, we will also try many different options like financial institutions for debt financing; potential small business grants from SBA as well as state, community, etc. Silpi is aiming to for annual sales of $550,000 by the end of the third year in operation. Thus, the company is seeking long-term business loans for the purpose of developing the foundation of the clothing line. The funding will cover operating expenses and product development leading to thee launch in July 2011. Startup costs are estimated at $390,000 with at least 40% of the costs going to start up needs and inventory. A detailed summary of the financial plan can be seen on the extended Business Plan.
10. Goals & Objectives In the short term, Silpi’s goals are: - focus on brand building - focus on product launchings, feedbacks & customer satisfaction - continuously pay off debt to meet a minimum balance by end of the 3rd year. In the long term, Silpi’s goals are: - international expansion - Have a strong brand foundation and use it for long term growth. - establishment of a creative center for local craftsmen and artisans based in India. - Pay investors and financial institutions any remaining debt.
