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CHAPTER // ONE
EXECUTIVE
SUMMARY
LIMN is a jewelry wholesaler and online retailer striving to
explode into the Thai jewelry market with cutting-edge de-
sign at affordable price points. Our individual designs are
certain to stand out from our competition in the Thai and In-
ternational marketplace. LIMN targets both male and female
customers whose age ranges between 18-36 years old who
are single and interested in art. These customers are middle
class, they have their own sense of style and they are willing
to be unique.
Online retailing has become more popular in Thailand, but
there are only a few jewelry retailers offering jewelry through
the online marketplace. LIMN offers e-commerce along with
our top-notch service for our retail customers. We provide a
product guarantee which other brands do not have and also
complimentary engraving service as customer satisfaction is
very important to us.
EXECUTIVE SUMMARY
LIMN offers our wholesale customers an online product catalog and an online wholesale
platform where our wholesale customers can create an order, manage their transactions,
and pay. We will also exhibit at international trade shows three times a year in order to gain
wholesale customers.
Our office has 754 square feet divided into two rooms, which is the LIMN office including
work space, design studio, inventory, and the LIMN showroom, which has a welcoming at-
mosphere. Our office and showroom is located in central Bangkok, Thailand where it is very
convenient to transportation.
LIMN jewelry is inspired by nature, history, and art. Our jewelry is handcrafted and of high-
quality material as well as bold designs. Our vision combines aesthetic purpose and wear-
ability. We offer various selections of products; rings account for 32% of inventory, earrings
account for 29%, necklaces account for 23%, bracelets account for 10%, and accessories
account for 6%. LIMN product prices range from $20 to $200.
LIMN expects sales for the first year to be $506,395 with a gross margin of 64.6% of total
sales. The cost of goods sold for the first year is projected at $179,300. LIMN hopes to raise
sales year by year and open a flagship store in Bangkok, Thailand, as well as expend our
distribution channel throughout the international marketplace.
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02/2
MISSION
STATEMENT
VISION
STATEMENT
LIMN manufactures limited edition, confrontational and
thought-provoking jewelry in Thailand. Each design is indi-
vidually handcrafted with great care and we provide 100%
guarantee on all of our products. With a driving passion for
our bold jewelry, we ensure that LIMN's customers will stand
out from the crowd.
At LIMN, it is our goal to be the leader in high quality jew-
elry, treating our customers as loyal fashion individuals. We
pride ourselves in constantly growing and putting out collec-
tions that have a new and exciting story to tell. Our aim is to
make your statement known.
CHAPTER // TWO
02/3
COMPANY
OBJECTIVES
& GOALS
• To successfully introduce and establish LIMN in the
Thai jewelry market
• To offer unique designs and handcrafted jewelry at
an affordable price
• To endorse retail customer satisfaction with top-notch
customer service and complimentary repair service
• To build brand awareness and brand loyalty of retail
customers
• To increase retail sales 15% in the second year of
operation
• To expand LIMN’s distribution channels by opening
LIMN’s flagship store in Bangkok for retail customers in
second year of business
• To improve logistics and supply chain to enable fast
delivery for wholesale customers
• To increase the number of wholesale customers by
20% over the next two years
• To expand wholesale customer base in Hong Kong and
Europe.
BUSINESS DESCRIPTION
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KEY TO
SUCCESS
PRODUCTS
We select only the finest materials to ensure that we offer
our customers the highest quality products. With our skilled
craftsmen and extraordinary design, we guarantee that
LIMN’s products are unlike any other in Thailand’s jewelry
market. Our unique products are offered at affordable price
points. We treat our jewelry like a precious gift for our cus-
tomers. Each piece comes standard with beautiful packag-
ing.
SERVICES
At LIMN, we believe that customer satisfaction is our key fac-
tor in being a successful business. We offer a product guar-
antee for our retail customers which other brands do not;
LIMN provides one year complimentary repair service and
28 days for product replacement and returns. Also, we never
stop maintaining relationships with our wholesale customers
as we continually develop our order management system
and mode of transportation to meet their needs.
LIMN’s e-commerce site is uncomplicated yet well-designed
with a secure payment system for our customers to purchase
through, as well as answers to our customers’ questions. We
also utilize social media, such as Facebook and Instagram,
where we proviode news updates, promotions, and show-
case LIMN’s products.
CHAPTER // TWO BUSINESS DESCRIPTION
"We believe that
customer satisfaction
is our key factor to
be successful
in business."
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MARKET RESEARCH &
INDUSTRY ANALYSIS
CHAPTER // 03
// Global Economy
// Global Jewelry Industry
// Country & City Overview
// Thailand's Economy
// Thailand's Jewelry Industry
// Wholesale Market Trend
// Retail Market Trend
// E-commerce Market Trend
// Survey Summary
// Target Market
// Potential Retailers for Wholesale
// Competitors Analysis
// Competitors Positioning
// SWOT Analysis
// Competitive Advantages
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CHAPTER // THREE
03/1
GLOBAL
ECONOMY
GLOBAL ECONOMIC SITUATION
According to “Global Economy Prospects”, in January 2015,
the gross domestic product (GDP) growth rate of the world
has gradually grown up from 2.4% to 2.6% over the past three
years. (2012-2014). The value of the world GDP rate has raised
from $100.9 trillion in 2012 to $107.5 trillion in 2014. However,
the growth rate was lower than initially expected amount due
to the disappointing growth out turn in high-income coun-
tries, but the GDP growth steadily grown up in low-income
countries at about 6% in 2014. Overall, the world GDP growth
rate is expected to reach 3.0% in 2015, and 3.3% in 2016.
THE IMPACT OF GLOBAL FINANCIAL
CRISIS IN JEWELRY INDUSTRY
The Global Financial Crisis (also known as the financial crisis
of 2007-2008) is considered by many economists to have
been the worst financial crisis since the Great Depression of
the 1930s. According to “Three Top Economists Agreement
on the 2009 Worst Financial Crisis Since Great Depression;
Risks may Increase if Right Steps are Not Taken”, a press
release, by reuters.com, states that the crisis has played
an important role in the failure of key business, declines in
consumer wealth estimated in trillions of U.S. dollars, and
a downturn in economic activity leading to the 2008-2012
global recession.
GDP growth: Actual and Projected, by World Bank
[1]
[2]
[1]
MARKET RESEARCH & INDUSTRY ANALYSIS
The history of gold price in 2000 - 2015, by goldprice.org
The United States’ major import sources for costume jewelry
in 2009-2011
[3]
[4]
Not only in jewelry industry, gold is a leading economic in-
dicator, and the changes in gold prices can explain investor
sentiment about the state of the U.S. and global economy.
An increase in gold prices typically signals that the U.S. econ-
omy is struggling. One of the factors that contribute to an
increase in the price of gold include a weak dollar. Gold price
raised from $626.25 in 2007 to the highest price at $1,826.80
in 2011 over the past decade.
As a result, people seemed to change their buying pattern
on jewelry. Costume jewelry gained more popularity among
consumers as it is affordable, modern design and high qual-
ity which meet the needs of consumers during the global
recession. The key drivers for the costume jewelry include
increasing prices for gold and other precious metals, gems
and pearls and increasing demand of men's costume jew-
elry. According to “Thai Imitation Jewelry Industry overview
2011”, the United State is a large market with diverse demand
in costume jewelry consumption, where jewelry import value
reached billions of dollars each year. In 2011, the United State
became the world’s largest costume jewelry importer who
imported $1,815 millions of costume jewelry, increasing by
4.98 percent from the previous year.[4]
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CHAPTER // THREE
03/2
GLOBAL
JEWELRY
INDUSTRY
U.S. retail sales of jewelry in 2007-2017, by mintel.com [5]
After the contraction of the U.S. jewelry industry in 2009, it
has been posting mostly positive numbers and showing con-
sistent, increasing growth. The jewelry industry is not as lev-
eraged as it was in 2008. As the cost of materials increased,
designers and manufacturers have created objects of adorn-
ment using more color, nicely design, a variety of materials
and high-quality craftsmanship. The jewelry industry as a
whole is a smarter and more moderate industry than it was
prior to 2008.
MARKET RESEARCH & INDUSTRY ANALYSIS
High Net Worth Individuals(HNWI) in 2009-2013, by worldwealthreport.com[6]
The global jewelry industry is back on a growth and it is expected to continue growing in the
near future. The jewelry industry seems to be recovering faster than other industries from
the global recession. Nevertheless, although the growth of the global jewelry has increased
in the recent years, it was still affected during the economic slowdown. This was evident
when retail sales of jewelry in the United State declined just as the recession hit, then slowed
throughout its duration.
The jewelry industry recovered pretty fast because the main consumers of the industry are
mostly high-net-worth individuals (HNWI) who were not deeply impacted by the economic
downturn. HNWI are also the main driver of the growth of the jewelry industry. According
to “The World Wealth Report 2012”, the number of individuals with investable assets worth
$1 million or more grew 9.2% from 2011 to 2012. The total number of HNWI is projected to
grow annually by 2012, and the key driver behind this growth will be the increasing wealth
in the Asia Pacific region, which grew 9.4%, between 2011 and 2012, and continued growing
in 2013.
[5]
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17THESISBOOKOFNANTAPORNLIMSAENGTHONG
Furthermore, the growth in HNWI has historically been in line with global real GDP growth.
GDP growth of 2.4% in 2012 is estimated to increase to 3.0% in 2015. Current and estimated
growth rates show that the primary force for jewelry sales is likely to come from Asia in the
years to come, the region expected to grow the most.
Real GDP growth rate in 2005 - 2013, by worldbank.org [7]
CHAPTER // THREE
EIU precious metals forecast in 2008 - 2017, by agmetalminer.com
The prices of precious metals are the key cost drivers for the jewelry industry. Precious met-
als include gold, silver, platinum, and palladium. As the jewelry industry depends on these
materials, changing the prices of precious metals have the straight impact on profitability
of jewelry industry. The prices of gold, silver, and palladium were dropped during the past
few years. It continues to fall in the future, which has resulted in increased margins for the
industry.
Thus, the jewelry industry tends to grow continually. Analysts forecast that the industry will
potentially become more profitable, with the expansion of gross margins when precious
metal prices drop. As global GDP growth raises and the number of HNWI increases, the
demand for jewelry is expected to rise accordingly.
[8]
MARKET RESEARCH & INDUSTRY ANALYSIS
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03/3
COUNTRY
& CITY
OVERVIEW
CHAPTER // THREE
Thailand's Floating Market
COUNTRY PROFILE
Thailand is a country with an extensive history; the country
is located in the Indochinese Peninsula in south-east Asia.
Thailand was also known as the “Land of Smiles” among for-
eigners for the sake of the welcoming nature of Thai people;
it is one of the premier tourist destinations in the world and
Thailand relies on tourism to provide only 7 % of its GDP. The
weather in Thailand is generally hot and humid: this is typical
of its location within the tropics. The population of Thailand
comprises roughly 65 million citizens.
OVERVIEW
Location: Southeastern Asia
Total area: 513,120 sq. km
Climate: Tropical; rainy, dry, and humid
Nationality: Thai
Religions: Buddhist (official) 93.6%,
Muslim 4.9%, Christian 1.2%, other 0.2%, none 0.1%
Languages: Thai (official) 90.7%, Burmese 1.3%,
other 8% ( English is a secondary language of the elite.)
Currency: Thai Bath
Population: 67,741,401 (July 2014 est.)
Population growth rate: 0.35% (July 2014 est.)
Birth Rate: 11.26 births/1,000 population (2014 est.)
MARKET RESEARCH & INDUSTRY ANALYSIS
Thailand's map
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CHAPTER // THREE
Age structure:
Sex ratio:
Thailand's age structure in 2014, by CIA
The age of LIMN’s target customers is from 18 -36.
These five age groups are large groups for both males and
females in Thailand.
[9]
Thailand's sex ratio in 2014, by CIA [9]
MARKET RESEARCH & INDUSTRY ANALYSIS
GDP - purchasing power purity: $673 billion (2013 est.)
GDF per capita: $9,900 (2013 est.)
GDP real growth rate: 2.9% (2013 est.)
Exports: $225.4 billion (2013 est.)
Imports: $219 billion (2013 est.)
Visiting tourists statistic:
Foreigner proportion (2013 est.),
by Thailand's Department of Tourism
The number of visitor arrivals to Thailand,
by Thailand's Department of Tourism [10] [10]
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CITY PROFILE
Bangkok is the cosmopolitan capital city and established
tourism infrastructure. Bangkok is a center of political, com-
mercial, industrial and cultural activities. Bangkok city is one
of the most crowded cities in Asia and it is the most modern
city of Thailand. There is convenient transportation, many at-
tractions, shopping areas, and a thriving night life scene.
OVERVIEW
Country: Bangkok, Thailand
Region: Central Thailand
Density: Urban
Climate: Tropical wet and dry
Population: 8,305,218 (2013 est.)
Average annual income: $19,580
Bangkok's Age Structure
Bangkok's night scece
CHAPTER // THREE
[11]
MARKET RESEARCH & INDUSTRY ANALYSIS
03/4
THAILAND'S
ECONOMY
THAILAND’S ECONOMIC SITUATION
According to “Thailand Economic Monitor Report” which published by the World Bank, in
February 2014, Thailand is now one of the Asia's fastest-growing economies in the region
recovering faster from the global financial crisis in 2009. It is because a shift in global de-
mand for products which made in Thailand such as electronics, automobile parts, and rub-
ber. Thailand’s GDP growth rate seemed to be restored since the global crisis in 2009,
and reached an all-time high of 11.20% in the fourth quarter of 2012.
However, the growth rate has fluctuated during 2012 to 2014 and eventually dropped to the
lowest level at -1.9% in the first quarter of 2014 due to the emergence of political issues.
In the second quarter of 2014, the annual growth rate has slightly increased and reached
to 1.7%. In the fourth quarter of 2014, it is expected to reach up to 2.47%, as the global
economy recovers and Thailand’s political issue is settled.
Thailand's GDP growth rate forecast in 2012 - 2015,
by tradingeconomies.com [13]
[12]
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CHAPTER // THREE
THE IMPACT OF POLITICAL CRISIS ON THAILAND'S ECONOMY
Thailand’s political crisis emerged in 2007. It has been a long issue for Thai people as it gen-
erated many followed issues such as decreasing of tourist arrivals, shutting down to Bangkok
by large protests in major financial districts, and the changing of Bhatt currency which has an
effect on the export-import of Thailand. In addition, the main impact has been on tourism,
which slowed down in the fourth quarter of 2013.
The Thai economy has finely balanced the situation at present. Private consumption and
investment still growing as the Thailand’s political crisis was settled at the end of 2014, and
taken control of Thailand’s military.
Impact of Political turmoil on the real economy,
by World Bank [12]
MARKET RESEARCH & INDUSTRY ANALYSIS
03/5
THAILAND'S
JEWELRY
INDUSTRY
THAILAND’S JEWELRY INDUSTRY
Thailand’s gem and jewelry industry is very important to the country’s economic develop-
ment; the market’s growth rate has continued to increase since 2008. Regarding the propor-
tion of exports and imports of Thailand’s gem and jewelry market, it shows that most of Thai-
land’s gem and jewelry industry is for export, which accounts for 80 percent of all products;
only 20 percent of production is for domestic consumption. According to “Thailand’s Gem
and Jewelry Import-Export Performance” in 2013, gems and jewelry was the fourth product
category and accounted for 4.41 percent of Thailand’s overall export value in this product
group at 10,084.76 million US dollars.
The top three export markets for Thailand’s gem and jewelry products in terms of value in
2013 were Hong Kong, The United States and Singapore, with shares of 26.17 percent, 13.09
percent and 8.92 percent, respectively. The other major markets were Japan, Switzerland,
Germany and Australia.
The proportion of exports and imports of Thailand’s gem
and jewelry in 2013
[14]
[14]
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CHAPTER // THREE
According to “The Office of SMEs Promotion (OSMEP) An-
nual Report” in 2012, there were many jewelry enterprises in
Thailand, 15,397 registered enterprises, and there were also
7,749 non-registered household jewelers, which generated
employment for 689,000 workers in Thailand.
THAILAND'SCOSTUMEJEWELRYINDUSTRY
Costume jewelry is known as fashion jewelry or imitation jew-
elry. It is an industry which requires a low cost of investment.
Most of pieces are made from alloys such as brass, copper,
and stainless steel, while some are decorated with synthet-
ic or imitation gems. Costume jewelry is sold at affordable
prices because of the medium quality and mass production.
However, costume jewelry has played an increasingly impor-
tant role as a major category of exports nowadays due to its
rising popularity and its quality in serving different levels of
consumers during the global economic slowdown.
According to “Jewelry, Costume: A Global Strategic Busi-
ness Report” published by Global Industry Analysts, Inc., the
global costume jewelry market is dominated by the United
States with an estimated 32.49 percent share in the year
2007. Global costume jewelry sales are projected to reach
$5.85 billion US dollars by the year 2015.
Costume jewelry is a group of Thailand’s export products in
gem and jewelry category, accounting for 2.88 percent of the
total gem and jewelry export value. According to “Thai Imi-
tation Jewelry Industry Overview 2011,” Thailand’s costume
jewelry export increased from the previous year by 22.82
percent to 345.02 million US dollars. Therefore, Thailand’s
costume jewelry export value accounted for 5.89 percent of
global costume jewelry sales.
The proportion of Thailand’s jewelry enterprises in 2012
As a result, Thailand’s gem and jewelry industry has emerged
as a major international player in production, processing
and trading. Moreover, the jewelry industry in Thailand is
labor-intensive and relies on skilled craftsmanship, beautiful
designs and modern technology to produce jewelry that is
competitive in international markets in terms of a high quality
product, skilled workers at a low cost, natural resources and
government support.
[15]
[4]
[16]
MARKET RESEARCH & INDUSTRY ANALYSIS
Thailand’s costume jewelry export value in 2004-2011
Thailand’s major export market for costume jewelry in
2009-2011
The top two countries of Thailand’s important export market for costume jewelry were Liech-
tenstein which accounted for around 45 percent of the overall export in this category, at the
export value of 159.51 million US dollars, following by the United States with the export value
of 72.23 million US dollars.
[4]
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CHAPTER // THREE
As fashion goods are lavish, especially jewelry, it is not
surprising that in the economic crisis regression, jewelry
becomes an unnecessary item and was taken out of many
households’ expenses. Nevertheless, fashion or costume
jewelry may still be acceptable and likely to thrive if it is of
high quality; the price level of costume jewelry is relatively
low, which makes it easy to buy and can be changed as often
as the fashion trend. However, there is also high priced cos-
tume jewelry in the jewelry market, as well as jewelry brands
that are distinguished by their unique design, including the
quality of craftsmanship, durability and safety when worn.
According to “Jewelry Design Responses to Higher Material
Cost” in 2012, published by The Gem and Jewelry Institute
of Thailand, today the global economic slowdown is widely
undermining market stability and consumers’ confidence.
Global consumers are more careful with their purchases
and they cut their spending in jewelry, causing a decrease
of demand in this product category along with weakening
purchasing power. However, jewelry demand is still main-
tained among affluent consumers who change their buying
patterns by placing more emphasis on value in terms of qual-
ity, design and price, respectively. As a result, there are
major trends in jewelry design and production: plating tech-
niques, using alternative materials with lower cost, reducing
the amount of precious metal and instead highlighting their
distinctive designs.
For example, silver plated brass jewelry is gaining more
popularity among consumers as it is offered at a reasonable
price, is a lightweight product, gives the look of silver as well
as a unique design.
03/6
WHOLESALE
MARKET TREND
[17]
MARKET RESEARCH & INDUSTRY ANALYSIS
According to Mintel, consumer’s typically purchase jewelry
as a treat for themselves. Fifty-two percent of internet users
who are 18 years old or older said that they bought jewelry
for themselves, 40% said that they bought jewelry because
it was on sale and another 40% said that they bought it be-
cause they liked it.
Most internet users of all age groups are more likely to buy
fashion or costume jewelry for themselves than other kind of
jewelry. Those aged 18-24 are most likely to purchase fashion
or costume jewelry, accounting for 31 percent; this group is
followed by the 25-34 aged group, which accounts for 25
percent.
03/7
RETAIL
MARKET TREND
Reasons for purchasing jewelry for self in 2012, by mintel.com
Jewelry and watch purchases for self in 2012, by mintel.com [5]
[5]
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CHAPTER // THREE
Importance of jewelry attributes in 2012, by mintel.com
Type of jewelry purchased in 2012, by mintel.com
Style or design is more important to women than men; 95 percent of women agree that style
or design is an important factor when they make a buying decision for jewelry. Price is also
very important to women too. Conversely, quality and type of material are more important
factors to men. Men buy jewelry somewhat less often than women; consequently, they want
the items they purchase to last a long time.
Both women and men are likely to buy many different types of jewelry; earrings are the most
commonly purchased, accounting for 65%, followed by necklaces, which accounts for 57%.
More importantly, women are significantly more likely to buy bracelets and necklaces than
men, which means there is a gap for jewelry retailers who promote unisex jewelry in these
categories in order to generate more interest and increase sales.
[5]
[5]
MARKET RESEARCH & INDUSTRY ANALYSIS
The internet plays an important role in our daily lives nowa-
days. E-commerce has become more popular because peo-
ple can buy products online at any time and from anywhere;
it reaches consumers globally. According to “Internet Users
in the World by Geographic Regions” in 2014 by internet-
worldstats.com, it is shown that there are 3,035.7 million in-
ternet users around the world, accounting for 42.27% of the
world’s population. The Asian region holds the most internet
users in the world, accounting for 45.74% of the world’s in-
ternet users.
03/8
E-COMMERCE
MARKET TREND
Internet users in the world, by geographic regions in 2014, by internetworldstats.com[18]
[18]
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CHAPTER // THREE
According to “Global B2C Ecommerce Sales to Hit $1.5 Trillion This Year Driven by Growth
in Emerging Markets,” an article by eMarketer.com, worldwide business-to-consumer (B2C)
e-commerce sales increased by 20.1 percent in 2014, reaching $1,500 billion US dollars.
Growth came primarily from the rapidly expanding online and mobile user bases in emerging
markets, increases in mobile-commerce sales, shipping and payment options. Consumers in
Asia-Pacific spent more on e-commerce purchases than those in North America, making it
the largest regional e-commerce market in the world.
B2C Ecommerce Sales Worldwide in 2012-2017,
by eMerketer.com[19]
[19]
MARKET RESEARCH & INDUSTRY ANALYSIS
B2C Ecommerce Sales Worldwide, by region in 2012-2017,
by eMerketer.com
In 2014, Asia-Pacific B2C e-commerce sales reached 525.2 billion US dollars, accounting for
34.92 percent of B2C e-commerce global sales. Moreover, B2C e-commerce sales in Asia-
Pacific is expected to grow every year and it is expected to increase about 50 percent in 2017,
reaching 1,052 billion US dollars.
[19]
[19]
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CHAPTER // THREE
Thailand Digital Landscape in 2014, by Wilas Chamlertwat
Thailand’s internet population has rapidly increased from 2.3 million users in 2010 to 20.1
million users in 2014, accounting for 29.6 percent of the country’s population in 2014. Ac-
cording to “Thailand Digital Landscape” in 2014, 38.5 percent of Thailand internet users
spent more than 20 hours a week on the internet, 35.7 percent spent less than 10 hours a
week, and 25.8 percent spent 11 - 20 hours a week on the internet, which means there is
an opportunity for retailers to adopt an e-commerce business model that will reach online
consumers in Thailand.
According to “Opportunity of Thailand’s Jewelry to the World Market on Ebay,” consumers
tend to have a habit of shopping on websites and sales on the internet are considered to be
another way that Thailand’s jewelry entrepreneurs will cater to this market because there are
multiple sales channels available to reach a wide range of customers. This can lead to both
increased revenue and profit. For instance, Thailand’s jewelry is one of the best-selling prod-
ucts on Ebay. There are more than 50,000 pieces and there are at least 3 pieces purchased
every minute.
Thus, the demand of costume jewelry is driven largely by consumer preference of price,
product quality and design. The 15-24 and 25-34 age groups are potential targets for cos-
tume jewelry as they are the most likely to spend on this type of jewelry. Online jewelry retail-
ers need to pay attention to online consumers because they will be a big potential revenue
stream in the near future due to the growth of global internet users.
[20]
[20]
[21]
MARKET RESEARCH & INDUSTRY ANALYSIS
03/9
SURVEY
SUMMARY
The purpose of a jewelry consumer behavior survey is to
understand consumers’ habits when purchasing jewelry in
Thailand in terms of price, material, buying reason, etc. The
analysis results are based on 100 participants’ feedback.
The majority of participants are 20 to 30 years of age, single,
and have a low to medium income. The age of LIMN’s target
customer is 18 to 36. Over 80 percent of participants are in
the age group of 18 to 36, and 91% of them are single, which
means this survey relates to the target customer. More than
50% of participants have a medium income, which shows
they are LIMN’s target customer.
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CHAPTER // THREE
Thirty-seven percent of participants wear jewelry everyday.
Forty-nine percent of them buy jewelry only on special occa-
sions, and 14% of them buy jewelry every pay day or monthly.
Rings are the most often worn jewelry that 60% of partici-
pants wear on a frequent basis, followed by earrings and
necklaces, accounting for 51% and 34%, respectively. This
shows that LIMN’s product offering proportion is reasonable;
we offer rings which account for 32% of inventory, earrings
account for 29%, and necklaces account for 23%.
MARKET RESEARCH & INDUSTRY ANALYSIS
The majority of participants buy jewelry for themselves and
they are willing to spend $10-$100 on a piece of jewelry,
which shows that LIMN’s price point is proper for our target
customers. The participants are most likely to prefer silver
than any material, yet they do not want to spend more than
$100 for one piece of jewelry, which means using plating
techniques to give a silver look to our jewelry is appropriate
for us in order to offer our product at an affordable price.
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CHAPTER // THREE
03/10
TARGET
MARKET
DEMOGRAPHICS
Age: 18 - 36
Gender: Male/Female
Family size: 1 - 2
Family life cycle: Young, single
Education: College students
Income: $24,000 (approximately THB 720,000/year)
Occupation: Creative filed
Generation: Millennials
Nationality: All
PSYCHOGRAPHICS
Social class: Middle class (based on Thais’ income level)
Lifestyle: Aspirational, Explorer
Personality: Independent, creative, idealistic, flexible, sensi-
tive
Activities: Traveling, visiting museums
MARKET RESEARCH & INDUSTRY ANALYSIS
BEHAVIORAL
Occasions: Social gathering
Benefits: Unique, exclusive
User Rate: Heavy, medium
User Status: First-time users, regular users
Readiness Stage: Interested
Attitude Toward Product: Positive
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CHAPTER // THREE
PRIMARY CUSTOMER PROFILE:
(Age range 24-36)
Name: Ploy Laohapongchana
Age: 29 years old
Status: In a relationship
Education: Master’s Degree
Occupation: Personal Stylist, Business Owner
Location: Bangkok, Thailand
Annual Income: $30,000
MARKET RESEARCH & INDUSTRY ANALYSIS
Ploy was born and raised in Bangkok, Thailand. She became interested in photography
when she was 15 and it continued to be her hobby since then. Fashion is also one of her in-
terests; it began when she used to play with paper dolls during her childhood.
She received her Bachelor’s degree in Communication Arts from Chulalongkorn University
(International Program) in Bangkok, Thailand and her Master’s degree in Arts Management
from Middlesex University in London, UK. After she came back to Thailand, she started work-
ing as a personal stylish at Topshop Thailand coupled with starting her own fashion blog
where her fashion taste and photography skills presented. Aside from working and blogging,
Ploy loves to go shopping and also window shopping downtown once a week.
She likes to stay updated on fashion trends, thus the internet is her primary resource for
keeping up with them. However, she wants to be different by creating her own style. She
loves to mix and match her wardrobe as she has a lot of clothes from unbranded pieces to
limited Chanel bags. She spends money a lot on clothes, but she also earns a lot too. She will
not pay for something she does not perceive value in. She does love shopping online as she
spends more than four hours a day surfing the internet.
Ploy is a confident, adventurous, fashion-conscious individual with a busy lifestyle. She is fun,
self-motivated, ambitious and social person. When she sometimes needs to have private
time, she goes to art galleries or museums. Instead of playing sports, she prefers hanging
out with her friends and finds inspiration by traveling. Her favorite types of music are rock,
punk-rock, and alternative.
She wants to be successful in her life. After working for three years, she started her own
fashion clothing retail store called “P’s Material” which turned into a success after one year
in operation.
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CHAPTER // THREE
SECONDARY CUSTOMER PROFILE:
(Age range 24-36)
Name: Kanin Tantivet
Age: 31 years old
Status: Single
Education: Bachelor’s Degree
Occupation: Designer Director
Location: Bangkok, Thailand
Annual Income: $24,000
MARKET RESEARCH & INDUSTRY ANALYSIS
Kanin was born in Bangkok, Thailand. He is the oldest son of a former male politician.
During his childhood, his father always encouraged him to follow in his father's footsteps as
a politician. In contrast, he found himself interested in art more than politics. His father let
him make his own decision. Thus, he decided to pursue his dream and earned his Bachelor’s
Degree in Graphic Design from Tama Art University in Tokyo, Japan. He is fascinated by
Japanese culture, which is why he chose to study in Japan. After living in Japan for several
years, Kanin returned to Thailand and started working as an editorial designer at an urban
lifestyle magazine.
Four years later, Kanin worked his way up to become a design director of the magazine. He
is also a freelance designer. He is a party animal and he takes every opportunity he gets to
go to parties, concerts and music festivals with his friends. His hobbies and interests relate
to liberal art, fashion, music, reading, and a social lifestyle. He is socially conscious as he
sometimes attended protests in Thailand.
He likes to go shopping in his spare time at department stores as well as influential bou-
tiques. He sometimes does online shopping but he prefers going to stores where he can
browse products and window displays. He is independent, goal-oriented and challenging.
He does not like to be controlled as he is not interested in leading or controlling others.
He is creative, curious, and energetic. He enjoys living his life everyday. He has a good sense
of style and he always seeks something new and unique. He does not care what others think
of the way he dresses. He is a risk taker. His life goal is to open his own fashion boutique to
share his unique style with others.
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CHAPTER // THREE
TERTIARY CUSTOMER PROFILE
(Age range 18-23)
Name: Toey Junkiet
Age: 19 years old
Status: In a relationship
Education: College
Occupation: College Student
Location: Bangkok, Thailand
Household Annual Income: $230,000
MARKET RESEARCH & INDUSTRY ANALYSIS
Toey was born into a wealthy family in Bangkok, Thailand. She is a spoiled child of a
smart businessman who was successful at an early age. She is a second-year student in the
International Business Management major at Assumption University, Bangkok, Thailand. Her
financial support is from her parents and her monthly allowance is $1,000. She owns a BMW
M235i Coupe.
Even though she studies business, she also has very good taste for fashion. Toey is fashion
savvy, and she spends her spare time surfing the internet as she loves to do online shopping.
She is really obsessed with social media, she likes to take selfies and share her pictures on
Instagram. Collecting things is her favorite hobby. She began her first collection, consisting
of headbands, when she was in primary school.
She spends money on apparel the most. She likes to shop “High-street” fashion brands and
also contemporary designer labels. She sometimes buys stuff which she likes but she may
not actually wear. She loves new experiences and she is likely to be the center of attention in
social situations. She gets very excited about new ideas and projects, but may neglect the
more routine aspects of life.
She is independent, immature, and self-controlled. She sees that playing by the rules does
not really work, so she wants to have fun while growing up. She does not see money as a way
to show off and she does not flaunt it or need to impress others. She spends time with her
friends more than her family because her parents always go on business trips, but she is still
close with her parents.
She wants to be a successful business person like her father because he is her role model; he
is her motiovation to study really hard, but she also enjoys her everyday life.
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CHAPTER // THREE
03/11
POTENTIAL
RETAILERS
ØDD. is a fashion retailer and styling house founded by Jud-
son Harmon in 2011. The ØDD. store is located in the heart
of Manhattan’s Lower East Side, New York, USA. ØDD. of-
fers fashion clothing for both men and women. Judson, the
owner of ØDD., curates a selection of thought-provoking and
innovative clothing, jewelry and accessories that experiment
with texture and design and appeals to the downtown crowd,
ranging from extravagant evening wear to understated street
threads.
The store carries numerous private labels and exclusive col-
lections from high-end designers. In 2012, ØDD. officially
launched the first collection of its ØDD.’s namesake label for
both women’s wear and men’s wear.
Jewelry Brands: 1-100, Vivienne Westwood, Mejesty Black,
Gaspard Hex, Henson, Maxime Llorens, Dominic Louis,
BRUTE, Y/PROJECT, SIMONN, and Michael Schmidt
Jewelry Price Range: $103 - $2,290
MARKET RESEARCH & INDUSTRY ANALYSIS
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CHAPTER // THREE
Patron of The New is a luxury lifestyle shop founded by Al
Abayan and his partner in 2011. The store is located in New
York City, USA. Patron of The New offers an international col-
lection of unique men’s and women’s clothing, accessories,
housewares and beauty products from obscure designers.
Every piece has an aesthetic that’s “polished with a bit of
roughness” and appeals to discriminating shoppers seeking
something outside the box.
Jewelry Brands: Luis Morais, Miansai, Lauren Klassen, Mignot
St.Barth, Rosa Maria
Fashion Jewelry Price Range: $85 - $15,650
MARKET RESEARCH & INDUSTRY ANALYSIS
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CHAPTER // THREE
Wolf & Badger is a fashion boutique founded in London,
United Kingdom in 2009 by brothers George and Henry Gra-
ham. After the first store’s success in Notting Hill, the broth-
ers opened their flagship store on Dover Street in Mayfair
in 2012. Wolf & Badger offers a cutting-edge selection of
designer brands, women’s wear, men’s wear, jewelry, and ac-
cessories from emerging designers. Wolf & Badger carries
about 350 brands overall and accepts roughly 15 new de-
signers each season.
Wolf & Badger also developed a successful e-commerce
website that carries a wider selection of brands that can
be shipped globally. In 2015, the company’s co-founders,
George and Henry Graham, are planning to open their first
international Wolf & Badger store in New York City, USA.
Jewelry Brands: Chupi, Nadia Minkoff, CF Concept, Nina
Kastens, Kasun, Mona Mara, Fera, and etc.
Fashion Jewelry Price Range: $22 - $8,650
MARKET RESEARCH & INDUSTRY ANALYSIS
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CHAPTER // THREE
Kabiri is an independent boutique, specializing in fine jew-
elry and unique finds, by new and established jewelers from
around the globe. Kabuki was established in 2004 by Na-
thalie Kabiri. The store is located in Marylebone High Street,
London, United Kingdom, and expanded online. After the
success of the first store, Kabiri finally opened its flagship
store in Coven Garden, which offers a wide range of jewelry,
including costume and fashion jewelry.
The focus for Kabiri is to concentrate on providing the best
work of international designers and a portfolio of luxury
fashion-forward brands. Setting the trends in fashion and
costume jewelry for both men and women, Kabiri stocks an
eclectic range of individual pieces that are sure to be no-
ticed.
Jewelry Brands: Kattri, Projebir, Ruifier, Fiya, Bjorg, Moxham,
Cooee, Dima, Eshvi, Dogeared, and etc.
Fashion Jewelry Price Range: £20 - £1,345
MARKET RESEARCH & INDUSTRY ANALYSIS
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03/12
COMPETITORS
ANALYSIS
Thailand has long been hailed as a jewelry destination of
choice for quality and uniquely designed products offered at
competitive prices. There are loads of jewelry brands; most
of them make fine jewelry, while some others just make fash-
ion jewelry. However, if we are looking at Thailand’s jewelry
market in terms of costume jewelry and types of business,
there are fewer strong competitors which are LIMN’s com-
petitors.
CHAPTER // THREE MARKET RESEARCH & INDUSTRY ANALYSIS
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THE DEFY
The Defy is a Thai-based jewelry brand; it was established
many years ago by a Thai couple who is passionate about jew-
elry design. They claim that fun and beauty is a design funda-
mental for their jewelry. The Defy consists of three product
lines: Defy Original, Portray Defy, and Defy Sweeteners. Each
line has a different style. To be specific, Portray Defy seems
to be LIMN’s strongest competitor. Most of Portray Defy’s
products are conceptual designs at affordable prices. The
Portray Defy line’s price ranges between $30 to $200. Brass
and silver are the main raw materials of their production. The
Defy has its own factory with a medium capacity of produc-
tion. The Defy does both wholesale and retail; its retail store
is located in Jatujak Weekend Market, in Bangkok, Thailand,
which is a very popular market among foreigners. Moreover,
they also sell products through many consignment stores in
Japan and the USA.
Strengths Weaknesses
- Variety of products and
design.
- Not much sophisticated
design, similar to other
brand in a market
- Low price point, due to
the Defy having its own fac-
tory with medium capacity.
- Not providing product
packaging
- Many distributions in do-
mestic and international
- Not providing a product
guarantee
- Good store location - Poor customer service,
and difficulty of buying
product online
CHAPTER // THREE MARKET RESEARCH & INDUSTRY ANALYSIS
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MISSILE
Missile was founded in 2005 by Pansiri Siriwetchapan, who
graduated with a master’s degree in Photography at the
Academy of Art University, and his partner. Mr. Siriwetcha-
pan, who is a well-known fashion photographer capable
of quickly gaining recognition and credit as far as sense of
fashion among fashion people. Missile employs two other
designers. Arts, music, and movies are the inspiration for de-
signing Missile’s jewelry. Missile claims that their designs are
fashionable, sophisticated, and edgy. Missile sets their price
point higher than other conceptual jewelry because of the
reputation of Missile’s founder. The price points range be-
tween $100 to $800. Silver and brass are mainly used in their
products. Missile offers products through its own retail store
and other exclusive boutiques in Bangkok, as well as through
numerous stockists in China, England, and Japan.
Strengths Weaknesses
- Good store location - Unfriendly customer
service
- Stylish and edgy design of
product
- Not providing a product
guarantee
- Many distributions in do-
mestic and international
- High price points
- High brand recognition
with beautiful imagery in
advertising
- Difficulty buying product
online, and selling through
just a few physical stores.
CHAPTER // THREE MARKET RESEARCH & INDUSTRY ANALYSIS
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77TH
77TH is a Bangkok-based conceptual fashion jewelry brand,
founded in 2008 by Mr. Phongmanas Sawaddichai, who has
a strong passion for wearable art. 77TH has become much
more popular in the past few years since 77TH jewelry was
worn by many of Thailand’s celebrities and its successful jew-
elry show. 77TH products are inspired by conceptual art and
fantasy as they claim that their products are unpredictable
and fascinating in each of the seasons in order to keep their
customers surprised. Their products are handcrafted jewelry,
offered through two collections a year. 77TH offers a wide
range of products; they not only produce jewelry, but also
accessories, women’s shoes, and handbags. They use a va-
riety of materials, including resins, gemstones, metals, and
animal hair. The price ranges are between $80 to $750. 77TH
evolved from a small retail store in Jatujak Weekend Market
to a flagship store located in a major department store in
central Bangkok while doing business with its international
stockists. Moreover, 77TH launched its online retail store in
2015.
Strengths Weaknesses
- High brand recognition,
a customer base of about
2,000
- Not providing a product
guarantee
- Wide range of products,
including accessories and
handbags
- Many designs are imitated
by others at much cheaper
price
- High retail store traffic,
and an online store
- High price points
CHAPTER // THREE MARKET RESEARCH & INDUSTRY ANALYSIS
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FONTHIP
Fonthip is a Thai brand of jewelry designed and created by
a Thai artist named Fonthip Tangviriyamate; the brand was
officially launched in 2008. The designer of the brand has
won many awards, and she was also interviewed by numer-
ous magazines. Fonthip's jewelry is a contemporary design
based on the inspiration and experimentation of the design-
er. Most of Fonthip’s designs are inspired by art and experi-
mentation with various techniques and materials. All pieces
are handcrafted with strong characteristic designs. Fonthip
has a wide price range of products from $50 to $600 due to
gold and silver being mainly used for its products. Fonthip
offers one collection per year because their jewelry is elabo-
rate and sophisticated in production and the designer her-
self is the main producer of the brand. Fonthip does not have
its own store; they distribute their products through stock-
ists. They have more than ten stockists in Thailand, Vietnam,
and Kenya.
Strengths Weaknesses
- Handcrafted jewelry and
strong characteristic of
design
- Selling products through
consignment stores only,
and difficulty of buying
product online
- High reputation of design-
er, winning many awards
- Low capacity of produc-
tion; one collection per
year
- Many distributions, both
domestic and international
- Not providing a product
guarantee
CHAPTER // THREE MARKET RESEARCH & INDUSTRY ANALYSIS
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CHAPTER // THREE
03/14
SWOT
ANALYSIS
STRENGTHS
• Outstanding design of products, as a unique piece of
art; products tell a story
• Product craftsmanship by skilled artisans, high quality
of products and rare material sourcing
• Established with suppliers(material sourcing) and
manufacturers
• One year product guarantee along with the compli-
mentary repair service on all products
• The flexibility to provide engraving service for custom-
ers who want to personalize their jewelry
• Top-notch customer service and well-trained employ-
ees
WEAKNESSES
• Lack of brand awareness, new in jewelry business
• Lack of business experience
• Competitive pricing in Thailand’s jewelry market
• Low cash flow
MARKET RESEARCH & INDUSTRY ANALYSIS
OPPORTUNITIES
• Expansion in new product lines
• Expansion in production capacity, running our own factory
• Expansion in new international markets
• Offering a physical store in order to reach more customers and easy access to our
products
• Collaborating with other fashion designers to create exclusive collection or become
involved in a fashion show
THREATS
• Fluctuations in availability of raw materials might cause price increase
• Thailand’s unstable political situation could cause an economic downturn
• Artistic copycats that enter the market can potentially mimic our designs and offer them
at a lower price point
• Increasing labor wages and lack of skilled workers
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CHAPTER // THREE
03/15
COMPETITIVE
ADVANTAGES
UNIQUE DESIGN
LIMN jewelry is inspired by nature, history, and art. We would
like our customers to wear jewelry like a piece of art. We are
dedicated to serving unique, cutting-edge, beautifully de-
sign jewelry that tells a story to our customers. LIMN jewelry
is designed for both aesthetic purpose and usability. LIMN
assures that every piece of our design is not like other jewelry
on the market. We also pay attention to packaging design, as
we treat LIMN jewelry like a precious gift for our customers.
CRAFTSMANSHIP
LIMN takes pride in craftsmanship. We select the finest ma-
terial in order to serve the best to our customers. We kindly
pay attention to every single detail in our production to make
beautiful jewelry at a reasonable price point to customers.
LIMN jewelry is handcrafted, unique jewelry.
MARKET RESEARCH & INDUSTRY ANALYSIS
PRODUCT GUARANTEE
LIMN’s customer satisfaction is our first priority. LIMN offers a one year product guarantee
for our customer, which other brands do not provide. Also, LIMN provides repair service for
our customers; we offer one year complimentary repair service without a labor fee, excluding
a material cost (if desired).
ONLINE STORE
Nowadays, there are fewer jewelry brands in Thailand that provide e-commerce for Thai’s
jewelry consumer, which is why LIMN offers an online store where it is very convenient for
customers to purchase our products, get news updates, and easily access our information.
CUSTOMER SERVICE
LIMN would like to be our customers’ first choice as we believe that customer satisfaction is
a key factor to becoming successful in a business. LIMN provides friendly customer service,
bringing a great online shopping experience to our retail customers.
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04/1
PRODUCT
OVERVIEW
BRAND INSPIRATION
"I think there is
beauty in everything.
What ‘normal’
people would
perceive as ugly,
I can usually see
something of
beauty in it."
—Alexander McQueen
LIMN is an alternative jewelry brand. Our designs are in-
spired by nature, history, and art. The LIMN brand arises
from the idea that beauty does not last forever, and people
sometimes overlook beautiful things that are around them.
Our jewelry is created with a story to tell, for both aesthetic
purposes and functionality.
CHAPTER // FOUR PRODUCT PLAN
Inspiration Board
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CHAPTER // FOUR
MATERIALS
LIMN jewelry is mainly made of metal, such as silver, copper,
pewter and brass. Additional selected materials will be used
when needed for both aesthetic and functional purposes.
PRODUCT CATEGORY
LIMN generally offers five product categories. Our product
categories are based on consumers’ needs and purchasing
habits. In the future, we would like to enlarge our product
categories to offer more items and styles, such as anklets,
hair accessories, body jewelry, etc.
• Rings
• Earrings
• Necklaces
• Bracelets
• Accessories (Key-rings and scarves)
PRODUCT PLAN
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04/2
PRICING
STRATEGY
LIMN offers a wide range of price points in order to meet our
customers’ needs. As LIMN takes pride in the craftsmanship
and design of our products, we select only the finest mate-
rial and we have high standards regarding quality in order to
serve the outstanding jewelry to our customers at a reason-
able price, along with the product guarantee.
RETAIL
LIMN offers product collections twice a year at affordable
prices for customers who are interested in unique pieces
but do not want to spend much money on jewelry. The price
range of the product line is between $20 - $200, based on
quantities, types of material, as well as the difficulty of pro-
duction. LIMN believes that our diversity of pricing can at-
tract a consumer who demands a high quality, unique design
at a reasonable price.
WHOLESALE
We offer a special wholesale price for retailers who are inter-
ested in our jewelry. An initial order is taken at 10 pieces and
reorders require $250 in the same collection.
CHAPTER // FOUR
PRICE
PRODUCT PLAN
Catagories Wholesale
Price Range
Average
Wholesale Price
Retail
Price Range
Average
Retail Price
Necklaces $34.50 - $84.50 $59.50 $69 - $169 $119
Rings $22.50 - $64.50 $43.50 $45 - $129 $87
Earrings $17.50 - $47.50 $32.50 $35 - $95 $65
Bracelets $32.50 - $62.50 $47.50 $65 - $125 $95
Accessories $29.50 - $37.50 $33.50 $59 - $75 $67
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04/3
CUSTOMER
SERVICE
In addition to selling wholesale, LIMN is also an online re-
tailer. LIMN would like to be our customers’ first choice as we
believe that customer satisfaction is a key factor to becoming
successful in business. To exceed customer expectations, we
attempt to serve our customers the best we can. LIMN’s cus-
tomers do not have to worry anything when they purchase
products from us, as we provide a product guarantee, which
other brands do not have, and also an engraving service. We
believe that, if we take the best possible care of our custom-
ers, they feel good about us. If they feel good about us, they
stick with us.
CHAPTER // FOUR
PRODUCT GUARANTEE
LIMN offers a product guarantee covering one year for our
customers. The LIMN product guarantee includes product
returns and repair services.
PRODUCT RETURN - Customers can return LIMN prod-
ucts within 28 days of the delivery date with the original
receipt. The return product must be in 100% new condition
with its original package for a full refund. The refund will be
paid through the same payment method that the customer
paid with, or a store credit.
REPAIR SERVICE - LIMN provides repair service for our
customers. We offer one year complimentary repair service
without a labor fee, excluding a material cost (if desired).
After a one year guarantee, LIMN offers a 20% discount for
repair services.
ENGRAVING SERVICE
For customers who are willing to personalize their jewelry,
LIMN presents monogrammed engraving service on LIMN
jewelry. LIMN offers a complimentary engraving service ex-
clusively for LIMN products. The engraving process will take
three business days to complete. In addition, engraved items
cannot be returned or exchanged.
PRODUCT PLAN
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CHAPTER // FOUR
04/4
PRODUCT
LINE
PRODUCT PLAN
FIRST COLLECTION
LIMN offers products seasonally. We will have two collections per year. Each collection consists of multiple pieces of neck-
laces, rings, earrings, and bracelets. For one collection, LIMN will offer 30% statement pieces, 30% medium-statement
pieces, and 40% basic pieces. LIMN also offers accessories like key-rings and scarves, which are related in design to the
regular jewelry collection. In order to provide more items to this category, LIMN would consider adding more products, such
as small leather goods or bags in the future.
Our first collection is “Make Love Fuck War” Spring/Summer 2016 collection, which is inspired by war, made by love.
Inspiration Board for
LIMN 1st collection
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04/7
SUPPLIERS
AND VENDORS
CHAPTER // FOUR
CHANI STUDIO CO., LTD
Contact Chanida Vorapitak
Phone +668-6-363-0644
Email cuckoos.studio@gmail.com
Address 36/1 soi Sathon, Sathon Tai Rd.,
Bangkok, 10200, Thailand
Product & Service Jewelry manufacturer
Minimum order No minimum
Leadtimes 2-3 weeks
Terms • 50% T/T deposit is required
before production and bal-
ance before delivery date
• Shipment: EMS, Siam First
Express
235 CASTING FACTORY
Contact Sales Representative
Phone +66-2-862-5866
Email 235casting.fac@gmail.com
Address 188/144 Charunsanitwong Rd.,
Baan Chang Lor, Bangkok noi,
Bangkok, 10700, Thailand
Product & Service Jewelry casting
Minimum order No minimum
Leadtimes 10-15 days
Terms • Payment: T/T only, 30% T/T
deposit is required before
production and balance
before delivery date.
• Free delivery in Thailand only
TQ925 FINDING FACTORY
Contact Sales Representative
Phone +66-2-881-9197
Email info@tq925co.com
Address 756 Boromratchonnani Rd.,
Bangbumru, Bangplad, Bangkok,
10700, Thailand
Product & Service Jewelry finding
Minimum order THB 2,000 ($66)
Leadtimes 7 days
Terms • Free delivery (in Bangkok
only)
• Payment: cash on delivery
• Any claim must be notified
within 7 days after shipment
received
• Any return after 7 days will
not be accepted
PRODUCT PLAN
JOY JEWELRY CO., LTD
Contact Sales Representative
Phone +66-1-373-4560
Email songplu@hotmail.com
Address 19 Sukumvit 77, Suan Luang, Ban-
gokok, 10250, Thailand
Product & Service Jewelry manufacturer and jewelry
wholesaler
Minimum order 10 pcs. per style
Leadtimes 3-6 weeks
Terms • 50% T/T deposit is required
before production and bal-
ance before delivery date
• Shipment: EMS, Siam First
Express
3D PRO SERVICE CO., LTD
Contact Sales Representative
Phone +66-5-256-9413
Email teeravut3d@gmail.com
Address 318/7 Ratchadaphisek Rd. 36, Lad
Yao, Jatujak, Bangkok, 10900,
Thailand
Product & Service 3D model making
Minimum order No minimum
Leadtimes Depends on desgin
Terms • THB200 ($6.5) per an hour of
wax making
SAIM CAST CO., LTD
Contact Sales Representative
Phone +66-2-538-1621
Email siamcast@siamcastthailand.com
Address 8-10, 81-89 soi Lad Prao 64 (Ket-
nute) Lad Prao Rd., Wang Tong
Lang, Bangkok 10310, Thailand
Product & Service Jewelry manufacturer and jewelry
retailer
Minimum order 30 pcs. per style for new order
(Repeat order is exceptional)
Leadtimes 4-6 weeks after of T/T advance
deposit is confirmed.
Terms • Payment: F.O.B, 30% T/T
deposit is required before
production and balance
before delivery date
• Packing: Standard export car-
ton with foams, bubble wraps,
or other special protections
under requirement
• Shipment: EMS, Siam First
Express, Air-freight/Courier
service under requirement
(FedEX, UPS, EMS, DHL)
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04/8
PRODUCT
CALENDAR
Start
Date Due
Date Duration W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4
5/15/15 5/31/15 16
6/1/15 7/15/15 45
7/8/15 7/22/15 15
7/23/15 8/7/15 16
8/8/15 8/22/15 15
8/23/15 9/7/15 16
9/8/15 9/15/15 8
9/16/15 10/31/15 46
11/1/15 11/15/15 15
192
National
Labour
Day May
1st
Mother's
Day
Aug
12th
Start
Date Due
Date Duration W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4
12/15/15 12/31/15 16
1/1/16 2/15/16 46
2/8/16 2/22/16 15
2/23/16 3/7/16 13
3/8/16 3/22/16 15
3/23/16 4/7/16 16
4/8/16 4/15/16 8
4/16/16 5/31/16 46
6/1/16 6/15/16 15
190
Father's
Day Dec
5th
New
Year's
Eve Dec
31th
New
Year's
Day Jan
1st
Makha
Bucha
Day Mar
4th
Songkran
Day 13th
-‐15th
Royal
Ploughing
Ceremony
Day May
13th
Visakha
Bucha
Day Jun
1st
Finalize
costing
with
manufacturers
Place
Order
and
Production
Ship
products
from
manufacturers
Total
Duration
of
Spring/Summer
Holidays:
Design
Process
Material
Sourcing
Create
Spec
Sheets
First
Sample
arrives
Review
and
approve
samples
Ship
products
from
manufacturers
Total
Duration
of
Spring/Summer
Holidays:
Research:
trend
report,
material
Fall/Winter
2016
Dec Jan Feb Mar Apr May Jun
Create
Spec
Sheets
First
Sample
arrives
Review
and
approve
samples
Finalize
costing
with
manufacturers
Place
Order
and
Production
Spring/Summer
2016
Research:
trend
report,
material
Design
Process
Material
Sourcing
2015
2015 2016
Oct NovMay Jun Jul Aug Sep
Start
Date Due
Date Duration W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4
5/15/15 5/31/15 16
6/1/15 7/15/15 45
7/8/15 7/22/15 15
7/23/15 8/7/15 16
8/8/15 8/22/15 15
8/23/15 9/7/15 16
9/8/15 9/15/15 8
9/16/15 10/31/15 46
11/1/15 11/15/15 15
192
National
Labour
Day May
1st
Mother's
Day
Aug
12th
Start
Date Due
Date Duration W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4
12/15/15 12/31/15 16
1/1/16 2/15/16 46
2/8/16 2/22/16 15
2/23/16 3/7/16 13
3/8/16 3/22/16 15
3/23/16 4/7/16 16
4/8/16 4/15/16 8
4/16/16 5/31/16 46
6/1/16 6/15/16 15
190
Father's
Day Dec
5th
New
Year's
Eve Dec
31th
New
Year's
Day Jan
1st
Makha
Bucha
Day Mar
4th
Songkran
Day 13th
-‐15th
Royal
Ploughing
Ceremony
Day May
13th
Visakha
Bucha
Day Jun
1st
Finalize
costing
with
manufacturers
Place
Order
and
Production
Ship
products
from
manufacturers
Total
Duration
of
Spring/Summer
Holidays:
Design
Process
Material
Sourcing
Create
Spec
Sheets
First
Sample
arrives
Review
and
approve
samples
Ship
products
from
manufacturers
Total
Duration
of
Spring/Summer
Holidays:
Research:
trend
report,
material
Fall/Winter
2016
Dec Jan Feb Mar Apr May Jun
Create
Spec
Sheets
First
Sample
arrives
Review
and
approve
samples
Finalize
costing
with
manufacturers
Place
Order
and
Production
Spring/Summer
2016
Research:
trend
report,
material
Design
Process
Material
Sourcing
2015
2015 2016
Oct NovMay Jun Jul Aug Sep
PRODUCT PLANCHAPTER // FOUR
59. 108
109THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // FIVE
05/1
MARKETING
OBJECTIVES
For the first year of our business, it will take a lot of effort to
enter into the competitive market and become a successful
business. Knowing customers is the best way to position our-
selves to the right consumers and also offer the right market-
ing message. Here are LIMN’s marketing objectives.
• To successfully introduce LIMN Jewelry to the market
• To build our brand awareness
• To increase website traffic
• To increase sales by 20% in year 2 and year 3
• To increase the number of wholesale customers in the
USA, Japan, and Europe
MARKETING PLAN
05/2
ACTION FOR
WHOLESALE
& RETAIL
Since people can easily access the internet, social media has gained popularity and become
one of the most effective marketing tools for almost every type of businesses. According
to “Internet Users in the World by Geographic Regions” in 2014 by internetworldstats.com,
it has been shown that there are more than 3,000 million internet users around the world,
which accounts for 42% of the world’s population. The global internet population has con-
tinually increased every year since 2000, and this includes Thai internet users.
According to “Distribution of Internet users worldwide as of November 2014, by age group”
by statista.com, the chart shows that the majority of internet users were people whose age
ranged between 25 and 34 years old, accounting for 26.7% of global internet users, which
are LIMN’s target customers. As a result, we strongly feel confident in using social media as
our key marketing tool in order to promote our brand, and generally build our brand recogni-
tion and increase sales. We will utilize Facebook, Instagram, Twitter, and YouTube.
Worldwide internet users, by age group, in 2014,
by Statista.com
[22]
[22]
60. 110
111THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // FIVE
FACEBOOK
The LIMN Facebook page is where we provide information, news, promotions, and events in
order to engage with our customers. Facebook offers an advertising program that helps mar-
keters to promote their businesses or products more effectively. In this way, we will mainly
invest in Facebook advertising as we can set a daily budget for promoting our brand as well
as reaching the right target audiences efficiently and also driving traffic to our website; we
can measure performance of marketing campaigns by using a site metric tool which Face-
book offers in order to adjust or improve our promotions. The estimated price for this type
of Facebook advertising program is $1,000 - $1,500 per month.
MARKETING PLAN
INSTAGRAM
Instagram is an online mobile photo-sharing and video-shar-
ing application. It rapidly gained popularity among many
celebrities and the general population over the last two
years, especially in Thailand. Instagram has become a tool
for selling a wide range of products, such as fashion clothing
and pets. LIMN will use Instagram as our product showcase,
sharing photos or videos of products and engaging with our
customers. Each photo and video that we post on Instagram
will help us create our brand images and build good relation-
ships with visitors. We will also create promotions or activities
by utilizing hashtags in order to promote our brand and get
our customers’ attention.
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CHAPTER // FIVE
GOOGLE ADWORDS
Google Adwords, or Google (PPC) Pay-Per-Click online advertising, is an online marketing
tool that helps drive traffic to websites and raise online sales. LIMN will invest in Google Ad-
words to attract more wholesale and retail customers. We can assign the search terms that
will make our ad show in the Google search results, setting our daily budget and choosing
countries of our potential customers. We only pay when someone clicks on the ad to visit our
website. The estimated price for Google Adwords is $500 - $800 per month.
MARKETING PLAN
WEBSITE
LIMN offers our official website and an e-commerce platform to provide information, news,
promotions, an online store, and a means of presenting our collection. LIMN’s official web-
site will be simple yet well-designed. The estimated price is $1,500 to build the website.
www.limnjewelry.com
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115THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // FIVE
05/3
ACTION FOR
WHOLESALE
TRADE SHOWS
Our main marketing strategy for our wholesale operation is
to focus on exhibiting at trade shows. In the first year of op-
eration, LIMN will participate in three big trade shows that
we feel have the appropriate retail target market, which in-
cludes BIFF&BIL Bangkok International Fashion Fair in Bang-
kok, Thailand, HKTDC World Boutique in Hong Kong, and
BIJORHCA The International Fine, Fashion Jewelry & Watch
Show in Paris, France.
Preparation for trade shows
• Research to focus on prospective buyers and learn
each trade shows’ history
• Send invitations to prospective buyers
MARKETING PLAN
March, 2015
BIFF&BIL Bangkok International Fashion Fair has become
a prominent sourcing center for international traders. The
BIFF&BIL Bangkok International Fashion Fair is held in Bang-
kok in March every year. There are more than 42,500 highly-
qualified global buyers and visitors from Asia, the United
States, Europe, Australia and the Middle East. Also, 1,000
booths are exhibited and designed for each area, such as
Textiles, Garments, Fashion Accessories, and Footwear.
Exhibitors will cover the whole range of upstream to down-
stream fashion from Thailand, Asia and Europe. Moreover,
the Department of International Trade Promotion will ar-
range roadshows for many countries, such as Japan, Korea,
and China, prior to BIFF&BIL in order to attract more trade
visitors.
BIFF&BIL offers a special rate of booth rentals for ASEAN
exhibitors; it costs $700 per booth (each booth is nine square
meters).
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117THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // FIVE
January, 2015
HKTDC World Boutique is the showcase for fashion brands
in Hong Kong, held in January, and organized by the Hong
Kong Trade Development Council (HKTDC). At the HKTDC
World Boutique, brands range from the prestigious to the
trendy—there are more than 650 international brands from
20 countries, and more than 25,000 buyers from 82 coun-
tries, such as the United States, Japan, and Europe.
Booth fees range from $4620 - $6,955, and a $1,000 deposit
upon submission of booth reservation is needed (booth sizes
are nine square meters and twelve square meters).
MARKETING PLAN
September, 2016
BIJORHCA, The International Fine, Fashion Jewelry & Watch
Show, is held twice a year in January and September in Paris,
France. In 2015, the show was comprised of 30% fine jew-
elry, 55% fashion jewelry, and 15% products related to sup-
plies and technical industries. There are 18,700 trade visitors
and 500 exhibitors from more than 100 countries around the
world.
Booth fees range from $6,300 - $8,350.
64. 118
119THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // FIVE
PRODUCT CATALOG
In each collection, we provide product catalogs in the form of hardcopy and digital books
to our wholesale customers. Once they make an order with us, we will continually send the
product catalogs to them, or they can download the digital version of the product catalogs
through our online wholesale system.
MARKETING PLAN
ONLINE WHOLESALE PLATFORM
LIMN provides an online wholesale platform, which is very convenient for buyers. The online
wholesale platform is linked to the LIMN website, but it is separated from our retail platform.
We will create a wholesale account for our wholesale customers.
The system allows us to keep our wholesale customers’ data and stay connected with them.
On our wholesale platform, customers can place an order, view order status, transaction
history, real-time stock status, and give feedback. Moreover, they can manage their account
information and download our electronic forms or line sheets. In this way, we can keep rela-
tionships with them in real-time. The estimated price is $1,500 to build the online wholesale
platform.
65. 120
121THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // FIVE
05/4
ACTION FOR
RETAIL
PUBLIC RELATIONS
LIMN will focus on public relations as we will associate with
fashion magazines in order to have our product featured in
magazines. We will kindly introduce ourselves by sending
them our product catalog and an introduction letter, letting
them know we are an alternative jewelry brand who offers
our products for a fashion shoot if they are interested.
If we could get our name in these magazines, it would help
us to raise our brand awareness among many people and po-
tentially increase our website and store traffic coupled with
sales.
MARKETING PLAN
EMAIL MARKETING
Email marketing is an effective marketing tool if it is used properly. We will send a marketing
email to customers regarding our promotions. In order to engage with the customers, we
will provide news, promotions, and sale events. Thus, we would like to develop a relationship
with our customers and get feedback in order to improve our business afterward.
To avoid customer dissatisfaction, we will create an email marketing plan by defining the
purpose of emails, categorizing the target recipients, creating compelling email titles, and
sending them at the right times.
66. 122
123THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // FIVE
SALES PROMOTION
LIMN will offer sales promotion on special events in order to draw customers’ attention. It will
be provided in forms of freemium, percentage(%) off promotions or dollar($) off promotions.
For example, LIMN offers an alphabet jewelry box when customers make a purchase over
$100 within their birthday month with free two-day shipping or a 5-10% off discount on our
New Year’s event. In order to leave room for the upcoming season, LIMN offers up to a 20%
off discount for the current collection when the newest collection arrives.
We do not want our customers who pay full price to feel left out when we offer these dis-
count on particular products. We respect our customers by not offering a large number of
discounts which can affect a customer’s perception of value.
Instead, we will offer sales promotions along with customer service to encourage a consumer
to make a purchase and fulfill their needs.
MARKETING PLAN
05/5
MARKETING
CALENDAR
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131THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // SIX
06/3
PACKAGING
Small Velvet Bag with Drawstring
60 x 80 mm
Small Paper Box
90 x 90 x 35 mm
Large Velvet Bag with Drawstring
90 x 120 mm
Large Paper Box
120 x 120 x 45 mm
J
E
W
E
L
R
Y
Paper Box Interior
VISUAL PLAN
Small Shopping Bag
160 x 240 x 80 mm
Large Shopping Bag
240 x 200 x 90 mm
Front Back
71. 132
133THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // SIX
06/4
SHOWROOM
& OFFICE
SHOWROOM & OFFICE
Location: Paladium Tower
Size: 28.5 x 26.7 ft.
Space Information
Office 574.13 sq.ft.
Showrrom 180.67 sq.ft.
Total space: 754.80 sq.ft.
Floor Plan
28.5ft.
13.5ft.
14.7 ft.
26.7 ft.
12.0 ft.
15.0ft.
VISUAL PLAN
Showroom
79. 148
149THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // SEVEN
07/1
COMPANY
OWNERSHIP
LIMN is a jewelry wholesale and online retail business, found-
ed and wholly-owned by Nantaporn Limsaengthong. LIMN is
a small company operated by five people consisting of CEO/
Creative Director, Assistant to Creative Director, Marketing
Specialist, Wholesale Sales/Inventory Manager, and Retail
Sales/Inventory Manager. All LIMN’s staff will work together
as a team and help each other to achieve our company goals.
LIMN’s office and showroom is located at Paladium Tower,
Bangkok, Thailand. LIMN’s products are manufactured by
our reliable vendors and suppliers in Bangkok, Thailand,
which is very convenient for product transportation.
COMPANY STRUCTURE
07/2
ORGANIZATION
CHART
80. 150
151THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // SEVEN
07/3
ROLES AND
RESPONSIBILITIES
CEO / CREATIVE DIRECTOR
Full-Time employee
Responsibilities
• Supervise the company and make important decisions
• Finalize designs of each collection and marketing direction
• Motivate employees of the company
• Set the ethical tone in providing ethical leadership and create an ethical environment
COMPANY STRUCTURE
ASSISTANT TO CREATIVE DIRECTOR
Full-Time employee
Responsibilities
• Handle daily office administrative tasks
• Act as a liaison between CEO/Creative Director and
other employees
• Coordinate with a designer to communicate with sup-
pliers for product samples
• Work with factory on production plan, delivery sched-
ule, and stock tune down
• Overall control of purchasing, such as negotiating,
finding new suppliers, cost saving strategies, managing
and coordinating with concern
• In charge of quality assurance of all goods
• Work closely with a marketing specialist to ensure
promotion launch time is met with quality
• Handle other related duties as assigned
MARKETING SPECIALIST
Full-Time employee
Responsibilities
• Responsible for the overall performance of wholesale
and retail marketing
• Study market trends and consumers’ behaviors for
marketing campaigns
• Create monthly & seasonal marketing campaigns for
online store
• Conduct weekly analysis to identify sales drivers in or-
der to optimize assortment and campaigns to achieve
monthly growth targets
• Update content and pictures on social media
• Analyze the performance of each promotion to evalu-
ate efficiency of the budget invested by media and
purpose a compensation plan by each promotion
media
81. 152
153THESISBOOKOFNANTAPORNLIMSAENGTHONG
WHOLESALE SALES +
INVENTORY MANAGER
Full-Time employee
Responsibilities
• Manage stock for wholesale
• Forecasts stock for the season
• Analyze stock movement and prepare summaries as
needed to ensure efficient stock rotation
• Manage orders received from wholesale customers
and prepare orders for shipping
• Communicate and coordinate with relevant depart-
ments when necessary
• Take care of wholesale customers while they are visit-
ing the showroom to increase the chance of winning
the deal
• Participate in tradeshows
WHOLESALE ASSISTANT ( on-call as needed)
Part-Time employee
Responsibilities
• Assist wholesale sales manager to receive wholesale
orders
• Prepare orders and shipments for wholesale customers
as well as examining packages before shipping
• Handle other related duties as assigned
CHAPTER // SEVEN
RETAIL SALES +
INVENTORY MANAGER
Full-Time employee
Responsibilities
• Manage retail inventory
• Maintain online store and update content
• Responsible for Shipping, Out of Stock, Return, Refund
Process for the online store
• Handle retail customer’s inquiries & complaints, provid-
ing help and advice
• Communicate courteously with retail customers
through every communication channel
• Formulate resolution and response in a timely & accu-
rate manner and provide excellent customer service
• Communicate and coordinate with relevant depart-
ment when necessary
• Provide feedback to improve efficiency
RETAIL ASSISTANT ( on-call as needed)
Part-Time employee
Responsibilities
• Assist retail sales manager to receive online orders
• Prepare orders and shipment for online orders
• Unpack packages of repatriation, examine the quality
of returned items and process returned items
• Handle other related duties as assigned
COMPANY STRUCTURE
DESIGNER (two days a week)
Contracted employee
Responsibilities
• Study market trends and consumers’ behaviors for new
designs
• Plan and design every collection
• Create specification sheets and detailed sheets
• Coordinate and follow up documents from suppliers (if
needed)
IT (twice a month)
Contracted employee
Responsibilities
• Design web layout when necessary
• Set up our online wholesale platform and online store
system
• Maintain the function of the company website and
ensure everything runs smoothly
• Solve any technical problem within the company
• Handle other related duties as assigned
CRAFTSMAN (four times a month)
Contracted employee
Responsibilities
• Responsible for repair service
• Make product samples (if needed)
• Handle other related duties as assigned
ACCOUNTANT (four times a month)
Contracted employee
Responsibilities
• Review our transaction records
• Evaluate our financial status and give suggestions on
reducing unnecessary costs
• Preparation and processing of payroll
• Record accounting transactions into system properly
• Manage potentially overdue accounts
• Preparation balance sheet reconciliation
• Collaborate with related departments to ensure timely
collection as planned
• Ensure inventory transactions are posted accurately, in
a timely manner
• Collect proper documentation as needed
82. 154
155THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // SEVEN
07/4
SALARIES
AND
HOURS OF
OPERATION
HOURS OF OPERATION
Office Hours: Monday - Friday, 10 AM - 6 PM
Showroom Hours: Tuesday - Friday, 11 AM - 5 PM
PUBLIC HOLIDAYS
New Year’s Day January 1st - 2rd
Makha Bucha Day February 14th
Songkran Festival Day April 13th -15th
National Labour Day May 1st
Royal Ploughing
Ceremony Day
May 9th
Buddhist Lent Day July 12th
Mother’s Day August 12th
Father’s Day December 5th
Constitution Day December 10st
New Year’s Eve December 31st
COMPANY STRUCTURE
TYPE POSITION WAGES WORK HOURS
FULL-TIME
CEO/ Creative Director $15 per hour
$1,800 per month
Monday - Friday
11 AM - 5 PM
Assistant to Creative Director $10 per hour
$1,600 per month
Monday - Friday
10 AM - 6 PM
Marketing Specialist $10 per hour
$1,920 per month
Monday - Friday
10 AM - 6 PM
Wholesale Sales + Inventory
Manager
$8 per hour
$1,280 per month
Monday - Friday
10 AM - 6 PM
Retail Sales + Inventory Manager $8 per hour
$1,280 per month
Monday - Friday
10 AM - 6 PM
PART-TIME
Wholesale Assistant $3 per hour On-call as
needed
Retail Assistant $3 per hour On-call as
needed
CONTRACT
Designer $12 per hour
$768 per month
Thursday - Friday
10AM - 6 PM
Craftsman $8 per hour
$256 per month
Tuesday
10 AM - 6 PM
Accountant $7 per hour
$224 per month
Monday
10 AM - 6 PM
IT $8 per hour
$128 per month
the 1st and 3rd
Wednesday
10 AM - 6 PM
SALARIES
83. 156
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CHAPTER // SEVEN
07/5
EMPLOYEE
BENEFITS
SICK LEAVE
According to the Labor Standard Law of Thailand, all employ-
ees are entitled to unlimited sick leave, but the number of
days paid sick leave shall not exceed 30 regular workdays
a year. However, a medical certificate is required for a sick
leave of three days or more; this must be from a qualified
doctor.
MATERNITY LEAVE
Our female employee are entitled to maternity leave for a pe-
riod of 90 days, including holidays—but the number of days
paid leave shall not exceed 45 days.
PUBLIC HOLIDAY
LIMN employees are entitled to the 13 public holidays per
year, including Father’s Day, National Labour Day, Songkran
Festival (also known as Thai Traditional New Year’s Day).
COMPANY STRUCTURE
VACATION
LIMN provides paid vacation leave for our full-time employ-
ees who have worked consecutively for one year or more;
these employees are eligible for vacation benefits and have
10 days for vacation leave.
ANNUAL HEALTH CHECKUP
All Thai employees make monthly contributions at the rate of
3% of the employees’ wages into the social security system,
which means they can get most hospital treatment for free.
Instead of providing medical benefits, our full-time employ-
ees are provided an annual health checkup program, which is
worth $100 for the vital checkup program.
EMPLOYEE DISCOUNT
LIMN provides the opportunity for our full-time employees
to receive employee discount benefits, which are 50% off
one retail price item each month, and 30% off two retail price
items each month. Returns and exchanges are not accept-
able.
84. 158
159THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // SEVEN
07/6
CUSTOMER
POLICY
WHOLESALE POLICY
Minimum order requirements: Initial order is at least 10
pieces and reorders minimum is $250 in the same season.
Payment: We accept Visa, Master Card, American Express,
Paypal, or check.
Lead Time: Orders will be shipped within 3-6 weeks from
time of cleared payment.
Shipping and Handling: Fees are the responsibility of the
buyers and will be advised upon order submission.
Returns: For damaged, defective items, or incorrectly sent
items, please contact us within 7 days of receiving your order.
Cancellation: If you would like to cancel an order, please do
so within 48 hours. Cancellations can be processed on our
online wholesale platform only.
COMPANY STRUCTURE
ONLINE STORE POLICY
Shipping
• LIMN offers a $7 flat rate shipping for orders under $75
for standard shipping and $25 flat rate for express ship-
ping.
• LIMN offers free standard shipping for orders over $75.
• LIMN only ships on business days; please allow us one
business day to receive an order and prepare for a ship-
ment.
• LIMN is unable to ship to P.O. Boxes, and we ship only
within Thailand.
Returns
LIMN online store willingly accepts returns with 28 days of
the delivery date.
• If you are not satisfied with your purchase and are will-
ing to return the items, please make sure the items are
in the same condition as they were delivered to you with
all packaging still being the same. They must not have
any signs of wear.
• Before you ship a package, you must complete the on-
line return form on the LIMN website in order to receive
a return label. Print and include the return label with
your shipment.
• The items must be wrapped with bubble wrap or other
protective packaging to prevent it from being bumped
during the delivery process.
• Please note that you are responsible for the shipping
fees when returning items.
• We highly recommend you buy shipping insurance and
use a reliable delivery company to prevent loss or dam-
age of shipment. Please note that you are responsible
for any loss or damage to shipments.
• Your return will be accepted with three business days
from the delivery date at our office. Refunds will be is-
sued for properly returned items; please allow us five
business days to issue the refund. Your refund will be
returned using the same payment or a store credit if
desired.
• If your returned items do not meet the conditions listed,
we will not be able to process the refund and your pack-
age will be sent back to you.
• If your return items do not meet our condition but you
would like to return the items, you are welcome to return
them for store credit with at least a 20% deduction of
the price of the original order. We will inform you of the
deduction before the return is processed.
86. 162
163THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // EIGHT
08/1
FINANCIAL
SUMMARY
Estimated Starting Capital:
Start Up Loan:
Wholesale Markup:
Retail Markup:
Expected Turnover Rate:
First Year Projected Units:
First Year Projected Sales:
First Year Projected Profit:
First Year Total Expenses:
Gross Margin:
Second Year Growth:
Third Year Growth:
$159,742
$47,922
50%
75%
Yr1: 6.04
Yr2: 6.70
Yr3: 7.63
8,613
$506,395
$57,675
$251,920
Yr1: $327,095
Yr2: $342,328
Yr3: $368,003
7.5%
10%
08/2
START UP
COSTS
FINANCIAL PLAN
START UP COST FORECAST
LIMN will start the business in February, 2016 with an estimated startup cost is $159,742 and
30% of it will be covered by bank loan with an annual interest of 3.6%, and 70% will come
from family’s equity investments.
The startup cost would be spent on expenses to start the business which includes technolo-
gy and phone costs, office furniture and decorations, leasehold improvements, rent deposit
of 3 months, salaries for 3 months, marketing expense of 3 months, opening inventory, other
startup expenses, a contingency reserve, and working capital.Startup Capital Spending Plan
and
Monthly Depreciation Expense
Item Detail $ Amount Depreciate ?
# Months of
Useful Life
Monthly
Depreciation
Expense
Technology and Phones
Cash Register, Fax/Copier, Printer, PC,
Phones,Software
15,000.00$ Yes 60 250.00$
Selling Floor and Backstock Fixtures
Floor Fixtures/Shelves, Display Tables, Jewelry
Cases
12,000.00$ Yes 60 200.00$
Leasehold Improvements (Material & Labor)
Flooring, Paint, Electrical, Light Fixtures, Fitting
Rooms, Doors, Signage, Awning & Labor
8,000.00$ Yes 60 133.33$
Rent Deposit 3 Months Rent Deposit 3,600.00$ No n/a
Wages and Salaries 3 Months 26,232.00$ No n/a
Marketing Startup Initial Marketing Campaign 12,700.00$ No n/a
Opening Inventory Cost BOM$ Inventory 54,760.05$ No n/a
Other Start Up Expenses Permits, Insurance, Utility Deposits, Supplies 2,450.00$ No n/a
Contingency Reserve
Extra Cash for Unforeseen Expenses and
Repairs
10,000.00$ No n/a
Working Capital
Cash Needed in first months to keep bank
funds positive
15,000.00$ No n/a
Total 159,742.05$ 583.33$
87. 164
165THESISBOOKOFNANTAPORNLIMSAENGTHONG
CHAPTER // EIGHT
08/3
ASSORTMENT
PLAN
ASSORTMENT PLAN BY CATEGORY
LIMN’s products are classified as rings, earrings, necklaces, bracelets, and accessories. Rings
are the largest category, accounting for 32%. Earrings account for 29%, necklaces account
for 23%, bracelets account for 10%, and accessories account for 6%. We project earrings to
be our bestselling category, which accounts for 32% of the total period of sales, followed by
rings account for 31% of total period sales. The average wholesale and retail price points of
necklaces are the highest, and the average wholesale price is around $48.96 and $97.92 is its
average retail price.
FINANCIAL PLAN
ASSORTMENT PLAN BY MATERIAL
There are four main materials in our products for the first year we plan to use: silver plated
brass, brass plated pewter, copper plated pewter, and silk. Silver plated brass is a major
material in our products which account for 48% of the total units, followed by brass plated
pewter, copper plated pewter, and silk, which account for 34%, 16% and 2% respectively.
We project silver plated brass to be our bestselling material, which will account for 50.1% of
the total period of sales. The average wholesale and retail price points of silver plated brass
products are also the highest prices, which are $43.31 and $86.61 respectively.
Subclass Total Units Total COGS Total Retaill Total Whls Total Period %/Total Item Count Avg Retail In Median Retail In Avg Sale Wholesale Avg Retail Avg
ACCESSORIES 570 $10,098 $16,408 $12,770 $29,178 1% 8 $35.25 $37.50 $51.19 $35.43 $70.86
BRACELET 910 $21,803 $37,575 $25,728 $63,303 13% 12 $48.92 $39.50 $69.56 $47.92 $95.84
EARRINGS 2,638 $51,926 $93,465 $61,750 $155,215 31% 32 $41.00 $42.50 58.84 $39.37 $78.74
NECKLACE 1,385 $33,906 $58,302 $40,358 $98,659 19% 18 $51.28 $49.50 $71.23 $48.96 $97.92
RING 3,110 $55,460 $93,798 $66,343 $160,041 32% 38 $36.18 $36.00 51.46 $35.67 $71.33
8,613 $173,192 $299,547 $206,848 $506,395 108 $41.47 $39.50 $58.79 $40.22 $80.43
Material Total Units Total COGS Total Retaill Total Whls Total Period %/Total Item Count Avg Retail In Median Retail In Avg Sale Wholesale Avg Retail Avg
100% silk 160 $3,000 $5,025 $3,750 $8,775 1.7% 2 $37.50 $37.50 $54.84 $37.50 $75.00
Brass plated pewter 2,995 $58,969 $102,176 $69,660 $171,836 33.9% 37 $40.34 $39.50 $57.37 $39.38 $78.76
Copper plated pewter 1,465 $24,761 $42,986 $28,950 $71,936 14.2% 17 $34.74 $34.50 $49.10 $33.80 $67.61
Silver plated brass 3,993 $86,462 $149,360 $104,488 $253,848 50.1% 52 $44.63 $42.50 $63.57 $43.31 $86.61
8,613 $173,192 $299,547 $206,848 $506,395 108 $41.47 $39.50 $58.79 $40.22 $80.43
