This document provides information about Lorene, a proposed boutique that will sell unique cocktail dresses and accessories in Boston. It outlines the mission, team, market details, opportunities, business concept, competition, key features, goals, financial plan, resource requirements, risks/rewards, and issues for Lorene. The target audience is young professional women ages 21-35 living in the Boston area who regularly attend cocktail parties and other events.

1. Breanna Campfield

2. Mission Statement Lorene is committed to providing customers with a vast collection of inspiring, fun cocktail dresses. Customers will know that they are purchasing a dress different from what their friends will wear to the particular event because of the one of a kind collections Lorene has to offer.

3. The Team CEO- Breanna Campfield Fashion Marketing & Management B.S. 3 years retail experience Store Manager- Teresa Miranda Fashion Marketing & Management B.S. 2 years retail experience Assistant Store Manager- Brittany Campfield Student at UCLA in hospitality 1 years retail experience Sales Associate- Brooklyn Campfield Student in High School 1 year retail experience

4. Market Summary Total population of Boston 590,763 Weather consists of four seasons Average household is two people 37,111 female householder, no husband present Educational attainment population is 25 years and older with Bachelors Degree at 88,231 Marital status for female is 15 years or older, never married is 124,742 Total population of female, 21 years and older is 427,857 Source: http://factfinder.census.gov/ & http://www.weather.com

5. Opportunities Cocktail parties happen on a regular basis in the greater Boston area. Within the Boston area, there are many shops that ladies are able to purchase their dresses, however there is not a store that specifies in one of a kind cocktail dresses and the accessories that go along with the dress.

6. Business Concept Located on the infamous Newbury Street in the heart of Boston, Lorene provides each customer a friendly cup of tea as they walk in the door, introducing each young lady to a modern cocktail dress that resembles something from another era. Alice+Olivia, Betsy Johnson, Dolce Gabbana, Cynthia Rowley, Carolina Herrera, DKNY are among some of the top designers that Lorene will showcase. The ambiance of the store is brightly lit yet cozy. Customers walk in to Lorene feeling as if they have walked into their grandmothers enchanted cottage. Fireplaces, hanging chandlers, cozy arm chairs, and many open windows with potted flowers all add to the atmosphere of Lorene .

7. Competition Dress 221 Newbury Street Boston, MA 02116 High End Retailer Multi Line Retailer Fun clothing, accessories, and shoes Designers include 3.1 Phillip Lim, Castel Starr, Lvell, Twelth Street by Cynthia Rowley, Vanessa Bruno, and more. Similar price points Queen Bee 85 Newbury Street Boston, MA 02116 High End Retailer Multi Line Retailer Fun clothing, accessories, and shoes Designers include Diane Von Furstenberg, Juicy Couture, C & C California, Trina Turk, Dolce Vita, and more. Similar price points Betsey Johnson 201 Newbury Street Boston, MA 02116 Primary Retailer One of the designers that Lorene carries Similar price points

8. Key features Features: Lorene carries high end fun and sophisticated cocktail dresses. Attribute: Lorene offers a multitude of designers collections with exclusive dresses in a fun atmosphere. Benefits: Customers will feel at ease knowing that they will not show up to a cocktail party dressed in the same attire as another because Lorene offers a select variety of cocktail dresses.

9. Goals and Objectives List five-year goals. State specific, measurable objectives for achieving your five-year goals. List market-share objectives. List revenue/profitability objectives.

10. Financial Plan Outline a high-level financial plan that defines your financial model and pricing assumptions. This plan should include expected annual sales and profits for the next three years. Use several slides to cover this material appropriately.

11. Resource Requirements Personnel- Store Manager, Assistant Store Manager, Sales Associate found through Craigslist Technology- Macintosh Point of Sales Finances- Quickbooks, Andrew M. Zuroff, CPA, PC Distribution- Fed Ex Promotion- Business cards, seasonal catalogue, post cards, signs & banners at www.vistaprint.com Products- Alice+Olivia, Betsy Johnson, Dolce Gabbana, Cynthia Rowley, Carolina Herrera, DKNY Services- Tea from Twinings Source: http://www.amzcpas.com/?gclid=CMuK3eXo3pYCFQ8QagodvCwu4Q

12. Risks and Rewards The risk of opening the doors to the cocktail inspired store Lorene is that the store relatively only sells cocktail dresses and customers may get tired of seeing the same concept. This issue will be addressed by a constant trip to Market Week in New York to insure that Lorene has the most up to date dresses along with a wide variety of options ladies can choose from. Also, Lorene will always have accessories in the store to keep the traveling customer enticed and add the final touch to her outfit.

13. Key Issues Near term Lorene is seeking a permanent residence on the infamous Newbury Street. Long term Lorene must stay on top of bringing in new merchandise each season in order to appeal to the customers who will come in at a regular basis for a special event for fear of the lose of interest.

14. Introducing Lorene Boutique style layout 1500 sq. ft

15. Target Audience Psychographics “ Work hard, play harder” mentality. Goes to upscale parties, dates, and is available to go to any event at any time. Values friendships, family, college education, work ethics, time management, health, & style. Spending behavior consists of being responsible by paying fixed budget, and then using all disposable money on shopping and entertainment.

16. Lorene The Store

19. 5 Year Hiring Plan Position Year 1 Year 2 Year 3 Year 4 Year 5 CEO $35,000 $40,000 $45,000 $60,000 $70,000 CEO $35,000 $40,000 $45,000 $60,000 $70,000 Mgr $25,000 $30,000 $35,000 $40,000 Sales $20,000 $20,000 $20,000 Sales $20,000 $20,000 $20,000 Assistant $25,000

20. Business Management $12,987,350.00 Percent Dollars Planned GMROI = Gross Margin $ X Net Sales Net Sales X (100% - GM%) = Inventory Turnover $2,857,217.00 Markdowns 11.50% $1,493,545.25 Net Sales Inventory Cost Inventory Cost 58.00% Discounts 7.50% $974,051.25 Shrinkage 3.00% $389,620.50 $7,532,663.00 X $12,987,350.00 #DIV/0! X 0.42 = #DIV/0! Total Reductions 22.00% $2,857,217.00 $12,987,350.00 #DIV/0! 12 month plan-> 12 / Inventory Turnover = BOM Stock/Sales 12 / #DIV/0! = #DIV/0! 6 month plan-> 6 / #DIV/0! = #DIV/0! Line January February March April May June July August September October November December Percent of Sales by Month 1 6.00% 4.00% 7.00% 10.00% 7.00% 7.00% 5.00% 14.00% 6.00% 4.00% 9.00% 21.00% 100.00% Monthly Sales 2 $779,241.00 $519,494.00 $909,114.50 $1,298,735.00 $909,114.50 $909,114.50 $649,367.50 $1,818,229.00 $779,241.00 $519,494.00 $1,168,861.50 $2,727,343.50 $12,987,350.00 Percent of Reductions by Month 3 5.00% 10.00% 5.00% 8.00% 7.00% 10.00% 5.00% 12.00% 8.00% 5.00% 8.00% 17.00% 100.00% Monthly Reductions 4 $142,860.85 $285,721.70 $142,860.85 $228,577.36 $200,005.19 $285,721.70 $142,860.85 $342,866.04 $228,577.36 $142,860.85 $228,577.36 $485,726.89 $2,857,217.00 Stock/Sales Ratios 5 2.6 3 2.6 1.9 2.5 2.4 2.5 2.1 2.4 2.8 2 1.7 Beginning of Month Stock (BOM) 6 $2,026,026.60 $1,558,482.00 $2,363,697.70 $2,467,596.50 $2,272,786.25 $2,181,874.80 $1,623,418.75 $3,818,280.90 $1,870,178.40 $1,454,583.20 $2,337,723.00 $4,636,483.95 End of Month Stock (EOM) 7 $1,558,482.00 $2,363,697.70 $2,467,596.50 $2,272,786.25 $2,181,874.80 $1,623,418.75 $3,818,280.90 $1,870,178.40 $1,454,583.20 $2,337,723.00 $4,636,483.95 $1,050,000.00 Additions to Stock 8 $454,557.25 $1,610,431.40 $1,155,874.15 $1,332,502.11 $1,018,208.24 $636,380.15 $2,987,090.50 $212,992.54 $592,223.16 $1,545,494.65 $3,696,199.81 -$373,413.56 Sales $3,506,584.50 Sales $4,285,825.50 * – for a 12 month plan, get EOM $8,662,562.45 EOM $9,493,752.85 value from management Avg Inv $2,165,640.61 Avg Inv $2,373,438.21 Inv Turnover 1.619190405 Inv Turnover 1.805745554 Sales $5,194,940.00 EOM $9,478,790.15 Avg Inv $2,369,697.54 Inv Turnover 2.192237582

21. Budget Fall 2008 Budget Designer Description Item Size Price Quantity Total 1 Alice + Olivia 2-Tone Dress 237738 0 $385.00 2 $770.00 2 $385.00 2 $770.00 4 $385.00 2 $770.00 6 $385.00 2 $770.00 8 $385.00 2 $770.00 10 $385.00 2 $770.00 12 $385.00 2 $770.00 2 Alice + Olivia Colorblock Dress 237734 0 $395.00 2 $790.00 2 $395.00 2 $790.00 4 $395.00 2 $790.00 6 $395.00 2 $790.00 8 $395.00 2 $790.00 10 $395.00 2 $790.00 12 $395.00 2 $790.00 3 Milly Poppy Print Silk Chiffon Dress 235044 0 $435.00 2 $870.00 2 $435.00 2 $870.00 4 $435.00 2 $870.00 6 $435.00 2 $870.00 8 $435.00 2 $870.00 10 $435.00 2 $870.00 12 $435.00 2 $870.00 4 Milly Victorian Print Silk Dress 235046 0 $350.00 2 $700.00 2 $350.00 2 $700.00 4 $350.00 2 $700.00 6 $350.00 2 $700.00 8 $350.00 2 $700.00 10 $350.00 2 $700.00 12 $350.00 2 $700.00 5 Milly Tuileries Print' Dress 221636 0 $420.00 2 $840.00 2 $420.00 2 $840.00 4 $420.00 2 $840.00 6 $420.00 2 $840.00 8 $420.00 2 $840.00 10 $420.00 2 $840.00 12 $420.00 2 $840.00 6 D&G Dolce & Gabbana Bustier Dress 234428 0 $1,295.00 2 $2,590.00 2 $1,295.00 2 $2,590.00 4 $1,295.00 2 $2,590.00 6 $1,295.00 2 $2,590.00 8 $1,295.00 2 $2,590.00 10 $1,295.00 2 $2,590.00 12 $1,295.00 2 $2,590.00 7 D&G Dolce & Gabbana Stretch Flannel Bubble Dress 234420 0 $495.00 2 $990.00 2 $495.00 2 $990.00 4 $495.00 2 $990.00 6 $495.00 2 $990.00 8 $495.00 2 $990.00 10 $495.00 2 $990.00 12 $495.00 2 $990.00 8 See by Chloé Silk Landscape Dress 230297 0 $495.00 2 $990.00 2 $495.00 2 $990.00 4 $495.00 2 $990.00 6 $495.00 2 $990.00 8 $495.00 2 $990.00 10 $495.00 2 $990.00 12 $495.00 2 $990.00 Grand Total $59,780.00

22. 6 Month Plan Plan Aug Sept Oct Nov Dec Jan Totals/ Avg. % of Sales 16.00% 13.00% 15.00% 22.00% 23.00% 11.00% 100.00% Beginning Month Stock 24613.12 19998.16 23074.80 33843.04 35381.36 16921.52 139730.73 Sales $17,580.80 $14,284.40 $16,482.00 $24,173.60 $25,272.40 $12,086.80 $99,807.67 Ending Month Stock 19998.2 23075 33843 35381 16922 18459.88571 147679.0857 Markdowns $4,799.56 $3,899.64 $4,499.59 $6,599.39 $6,899.37 $3,299.70 $27,247.49 Purchaes Planned $17,765.44 $21,260.88 $31,749.79 $32,310.95 $13,712.41 $16,924.86 $135,003.51 Stock to Sales Ratio 1.4 1.4 1.4 1.4 1.4 1.4

23. Fashion Show Production Art Institute- California Design College

24. Sue Wong "Opulent Restraint" Party at The Cedars Estate Source: www.daylife.com

26. Target Audience Demographics Female Single, In a Relationship Ages:18-34 Middle to Upper Class Income: $50,000+ College Graduate or enrolled in school Located in the Greater Boston area Psychographics Practices a healthy lifestyle by participating in yoga on a regular basis, believing in organic for everything from fruit to cleaning supplies, and tries to keep her world clean by recycling. Goes to parties that are upscale, dates, and is available to go to any event, at any time. Values friendships, family, college education, work ethics, time management, health, & style. Spending behavior consists of being responsible by paying fixed budget, and then using all disposable money on shopping, dinning, and entertainment.

27. Competitor Overview Anthropology Strengths: Chain Retailer, owned and operated by Urban Outfitters, multi-line, lifestyle brand, customer loyalty. Weaknesses: Can be intimidating, high price points, poor advertising, poor promotions. Opportunities: To be more personable, to reach target market through advertisements. Threats: New retailers creating great customer service along with out doing everything from product to advertising.

28. Petals Opening Shop Targeting the public, Petals will open its doors on Thursday, April 2, 2009. Advertising for Petals Grand Opening will begin mid February. Advertising for the Grand Opening will consist of direct mailers, magazine advertisements, online publications, newspaper, and radio. The event will accomplish awareness of the store Petals and attract customers. The Grand Opening will be a CO-OP event with Free People .

29. Flyer Advertisement Post Card Flyer Petals will have Post Card Flyers advertising the store opening. Post Cards will be distributed to art galleries, coffee shops, and concert venues around Newbury St. and will be placed at the entrance of each place. Art Galleries Acme Fine Art, Judi Rotenberg Gallery, Alpha Gallery, Arden Gallery, Art Institute of Boston, Kidder Smith Gallery Coffee Shops Starbucks, L'Aroma Café, Tealuxe Concert Venues Abbey Lounge, Avalon, Sculler's Jazz Club Cost to print per thousand- $73.00 ($.73 per card) Source: www.boston.com www.printplace.com

30. Radio Advertisement Radio Spot: “ Fall in love with fall all over again sale. Come to Petals to receive 25% off after purchase of a $100 or all throughout the month of September. Visit our website at shoppetals.com! Hurry in to get your last fall must haves! Petals is located on Newbury St. For more information, visit our website at Shoppetals.com.” Source: http://www.gaebler.com/Cost-of-Radio-Advertising-In-Boston---MA

31. Radio Advertisement Petals will be advertising on 93.7 Mike FM, Contemporary Adult, 24/7 for the two months prior to the Grand Opening. This radio station is directly what Petals target market listens to on a daily basis. These station plays everything from Cold Play, to Nelly Furtado, to Foo Fighters. While our target market is commuting to school or work or getting ready for a night out on the town, they are constantly tuned into this station and will here our radio advertisement as it will be played multiple times throughout the day. Cost per radio spot is on average $453.00 Source: http://www.gaebler.com/Cost-of-Radio-Advertising-In-Boston---MA

32. P r e s s R e l e a s e

33. Fall Sale at Petals Targeting the public, Petals will be having a fall sale entitled “Fall in Love with Fall all over Again” throughout the whole month of September. Heavy advertising for Petals Fall Sale will begin mid August and end in the middle of September. There will still be advertising until the end of September, however it will be light. Advertising for the Grand Opening will consist of direct mailers, magazine advertisements, online publications, newspaper, and radio. The event will accomplish awareness of the store Petals and attract customers. The “Fall in love with Fall all over Again” Sale includes 25% off of every $100 spent.

34. Advertising Placement Direct mailers: Post Card Flyer Magazine advertisements: Boston Magazine Online publications: Boston Herald Newspaper: Boston Globe Radio: 93.7 Mike FM

35. Flyer Advertisement Post Card Flyer Petals will have Post Card Flyers advertising “Fall in Love with Fall all Over Again Sale”, 25% off of every $100 spent. Post Cards will be distributed at local festivals around Newbury St. Samuel Adams Oktoberfest Saturday, September 5, 2009 Oak Street Fair Saturday, September 19, 2009 Sowa Open Market Every Sunday through October 25, 2009 (Note: Petals will promote every Sunday, even if there is not a current store promotion) Cost to print per thousand- $73.00 ($.73 per card) Source: www.boston.com www.printplace.com

36. Flyer Advertisement Post Card Flyer Petals will have Post Card Flyers advertising “Fall in Love with Fall all Over Again Sale”, 25% off of every $100 spent. Post Cards will be distributed at local festivals around Newbury St. Samuel Adams Oktoberfest Saturday, September 5, 2009 Oak Street Fair Saturday, September 19, 2009 Sowa Open Market Every Sunday through October 25, 2009 (Note: Petals will promote every Sunday, even if there is not a current store promotion) Cost to print per thousand- $73.00 ($.73 per card) Source: www.boston.com www.printplace.com

37. Magazine Advertisement Petals will advertise their “Fall in Love with Fall all Over Again Sale”, 25% off of every $100 spent, in the August 2009 issue of Boston Magazine. Petals target customer relies on this magazine to keep them up to date on what concerts they should attend, where the latest restaurant is located, and when art shows are coming. This is Petals target customer’s go to source for everything including where to shop. Cost per 1 Full 4-Color Page: $17,342

38. Creating a Buzz Petals will create a buzz by advertising directly to the target customer, at the consumer level. Petals goes to the cafes, magazines, and blog websites that the target customer goes to daily to advertise their store. Traffic within the store will be made through promoting sales advertisements, excessive catalog distribution, and an on going calendar of store events. Petals will succeed competitors because Petals owners have a passion for finding that unique eccentric piece that cant be found anywhere else. With dedication to finding excellent merchandise, Petals offers outstanding customer service to anyone who walks into the store. Petals employees want everyone to find a piece that has their own personality.

39. Television Pros Television combines color, sound, and motion Television is still enormously efficient for large advertisers Television opens more doors Cons Messages can easily be forgotten and destroyed Audiences can easily believe competition It is easy to confuse the audience with a lot of cluttered advertisements Many audiences surf channels throughout the commercials Source: Lane, King and Russell. Kleppner’s Advertising Procedure. 16 th ed,. New Jersey: Prentice-Hall.

40. Television Recommendation Television is a recommended medium to advertise for Lorene . Television is the most remembered form of advertising. With television advertising, Lorene ’s target market will be able to be reached.

41. Recommended Buy Source: Nielsen Station Index. Boston August 2005. People Meter Service. Date Time Program Cost Ratings Monday 8-9 PM 24 $10,000.00 8 9-10 PM Hell's Kitchen $9,200.00 5 Tuesday 8-9 PM House $6,500.00 2 9-10 PM Big Brother $4,900.00 3 Wednesday 8-9 PM So You Think You Can Dance $6,725.00 6 9-10 PM So You Think You Can Dance $3,750.00 5 Thursday 8-9 PM NFL $5,250.00 10 9-10 PM Scrubs $8,275.00 6 Friday 8-9 PM Red Sox $5,350.00 5.5 9-10 PM Red Sox $2,800.00 7 Sunday 8-9 PM Simpsons $15,750.00 5 9-10 PM Law & Order CI $5,950.00 3

42. Thank You for your time! For more information please view http://www.linkedin.com/in/breannacampfield or view my full portfolio at an interview -Breanna Campfield