We are currently working on creating a customer base and researching the pricing , we are also looking for angel investment to help us with our capital expenditure which is mainly the inventory cost of luxury labels.
Luxury Democracy –BLXD , like the women it is aimed at , believes that Luxury is not aboutownership and flaunting expensive labels but about refinement andappreciating perfection in design and quality. From this point of vieweveryone who understands and loves the great legacy, design andquality of iconic Luxury Brands , deserves to experience it.
BeLuxed is an online Luxury Service -It is a subscription based Luxury FashionLending Service that offers it’s members an extended Luxury wardrobe throughleased access to some of the most iconic fashion Brands in the world. It is for people who are passionate about fashion and style and have an intense desire to experience the Legacy, Design Quality and Perfection of iconic Luxury Brands. • It could be the answer , for people with luxury aspirations but not quite the wallet to match and/or • It could be a great supplementary resource for people who do own luxury items but would like to try out /experience even more International brands and Designer Merchandise than they currently access
The 2010 released CII-AT Kearney report says the Indias luxury market, which is small compared to global standards, is likely to grow three times and touch $ 14.7 billion by 2015 . There is a huge latent demand especially in tier-2 cities which has many new millionaires Most luxury brands still unwilling to move beyond the exclusive malls and hotels of Delhi and Mumbai, the game- changer in India for them may lie in another factoid in the Bain report: that luxury sales online are over-performing overall web sales, and will grow at 20% in 2010, to e4.2 billion. In that segment, off-price sales account for 30% of online, versus 70% online purchases at full price. Men do most of the luxury in India, mostly cars and watches, very few women like to shop for international Luxury labels in India they prefer to shop while traveling abroad. For Luxury to really take hold, India needs more world-class retail spaces, more hi-profile events where women feel the need to wear great luxury brands and various formats need to be explored that allow women to get exposed to and get used to wearing Luxury brands with the least amount of risk Smaller items like wallets, perfumes and cosmetics are important and like it or not , ladder brands like Zara and Guess are important too.
Trend 1: Luxury CRM Culture Dramatically Supersedes Operational CRM Trend 2: Focus on Brand Values and Service Values – Luxury Brand don’t need positioning as much as a clear and strong identity Trend 3: Luxury Purges its Out-of-Touch, Arrogant Staffs Trend 4:Man the Websites! Trend 5:Clienteling Goes from a Hobby to a Discipline Trend 6: Luxury Mobile Applications Come of Age Trend 7: Luxury Equips Sales Professionals with In-Store Mobile DevicesCOMMON DENOMINATOR- Democratization of Luxury - out with the snobbish attitude,Customer is in the driving seat, People want individual attention and good service,Technology is a great enabler and differentiator that allows the brand to offerValue-added services and build relationshipsWealth and Luxury Trends2011 and Beyond – Luxury InstituteWhite paper
Primary Market Segment (Individuals) IT professionals –women (and later men) who earn salaries above 15 Lacs PA Top Business professionals in Retail , Travel and Hospitality Top executives of Small and Medium sided businesses Aspiring Models and ActressesSecondary Market Segment (Non-individuals): Modeling agencies Ad/film production houses Event/PR agenciesGeographiesBangaloreIndian MetrosRich tier 2 cities (Ahmedabad , Pune, Chandigarh etc)
Services: One time Rentals through a one time contract Online catalog and transactions online payment with pick up and drop , great for Luxury Lease trying out the services › Bags and Shoes › Fashion Jewelry › High-end Watches Membership option › Cocktail Dresses Platinum - Refundable Deposit and rental › Evening gowns charges , Multiple Items at a time, unlimited › Business suits borrowings › Outerwear Free (up to a limit) VAS like Drops and Courier Pick-up and Drop Cleaning Auctions Member privileges like Previews, book in Pre-bookings & Previews advance and Cleaning services for members Pre-Auction invitations to bid. Store & Member-to-member Luxury Auctions Gold- No Deposit, Monthly advance-paid Style community & social network fixed fee. Stylist on call Selective access to Merchandise , One item Member Luxury Listings & Classifieds at a time, Limited borrowings per month Paid VAS like Drops and Cleaning Virtual shoot planning & run-throughs for photographers and publications
The primary sources of revenue are• Rentals from Long term members- Platinum• Membership Fees from Monthly members – Gold• Rentals from Non-member (Virtual walk-ins) individuals or Institutional bulk rentals• Final auctions (recovery)Future sources of revenue Ads , business listings and classifieds Member to member auction commissions Paid value-added services to existing customers. Stylists Wardrobe planners & shopping advisors Weekly outfit planning sessions Personal shoppers Shopping tourism / events
Plan ROI for Quarterly Budgeting & Source each item to merchandise Operations Internationally recover 150% Forecasting mix planning of investment• Trend forecasting • From multi-brand • Cost of purchase + • Logistics • Revenue• Planning websites lifetime • Online management• Ensure a healthy • Directly from Brand maintenance merchandising & • Cash flow mix of “classics” • Liquidation • Rental target per cataloguing • Accounting and “trend” items websites purchase • Customer • Final Auction outreach – recovery per Marketing , purchase Promotions & CRM • Order processing & Delivery • Payments & collections • Inventory management & maintenance The basic logic- Every item on an average has a target of 150% ROI within a set timeframe (bags have more time, apparel has less time to recover costs and so on) This return on investment has to happen primarily through revenues from rentals + final auction/sale Additional revenue streams like Ads, commissions etc. will also contribute to cover overheads. The largest cost ( and asset) for BeLuxed is inventory which constitutes roughly 60% of our total cost. That is the nature of the business.
Social Media Marketing – Blogger outreach, FB, LinkedIn, Twitter Website marketing – SEO/SEM, Listing, Banners and Ad words Press coverage/advertorials in Local dailies and Lifestyle magazines Radio interviews (non-paid) Introductory offers and Member get member promotions through targeted email campaigns and tie-ups with other brands Partnerships with Clubs/Spas/Travel and vacation websites/companies and Salons to have an mini events or events within event . Participation in Luxury/Fashion fairs/events. Institutional buyers (Modeling agencies, Ad film production houses) are targeted through sales appointments and Direct Mailers.
Various options would compete for the share of wallet that belongs to “pleasure/self-indulgence spending” Indirect competition could be any of the following: › Purchase of “ladder brands” especially tempting sale season › Save up and buy smaller /last seasons luxury brand items of luxury brands on sale on international website like “net-a-porter”, “The outnet” , “Ventee privee” , “Guild group, and many more › Vacations › Spa/beauty services › Purchase good quality Fakes? The above would be more important in the case of walk-ins and one-time borrowers Presumably members see value in the brand offering and would see the BeLuxed offering as unique and not to be compared with the above types of indirect competition.
True International Luxury Labels Incredibly stylish and on trend merchandise – Classics with a modern edge Wide Range for specific occasions like Business events, Cocktails, Club party , Day party , Vacations etc. Jewelry and watches also available Impeccable attention to hygiene and maintenance of goods Personalized enrolment and requirement gathering sessions You can vote for future additions to wardrobe Classy Service Amazing auctions to get great brands at dream prices
I can ideate, inspire, strategize, Design, create, fire-up , problem solve, hang onVeena Srinath, SIMS 1999 and get people toAdvertising & Marketing Professional believe http://www.linkedin.com/in/veenasrinath Aarti Saxena Deoskar, SIMS 1999 I can analyze , fine Sales & Marketing with Multinational tune , calm-down, negotiate, network Luxury Hotels and managehttp://www.linkedin.com/pub/aarti-deoskar/b/b3b/a18 operations I can sell , realize Pragati Seth Sharad, SIMS 1999 plans, push people, Sales & BD for IT Services for Europe, India network, make contacts, leveragehttp://in.linkedin.com/pub/pragati-seth/13/7a5/49 connections and manage operations
BeLuxed wants to be the most admired and trusted FashionBorrowing Service Brand in India.A service that stylish and intelligent women turn to, when theywant to access genuine Luxury fashion Brands and createbeautiful personal experiences with them, without blowingup their hard earned cash on outright purchases.