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Business Plan

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BLOOM Designer Kids Wear Business Plan Presentation by: Kriti Mehta Kritika Dawar Miriam J T Stuti Goel Executive Summary Splurging for kids is a fun thing to do-toys ... – PowerPoint PPT presentation

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Title: Business Plan


1
Business Plan
BLOOMDesigner Kids Wear
Presentation by Kriti Mehta Kritika Dawar Miriam
J T Stuti Goel
2
Executive Summary
  • Splurging for kids is a fun thing to do-toys,
    chocolates, games, books, clothesyou name it.
    Except that one thing that really struck us- when
    shopping for clothes, there is a serious dearth
    of good occasion wear for kids. Finding suitable
    clothing for marriage functions, birthdays,
    festivals etc for kids- all prove to be a task
    that sends one running in circles.
  •  
  • Our idea is to launch exclusive occasion wear for
    kids between 3-12 years-for both western and
    Indian clothing, while also providing matching
    accessories that may go with the outfits. The
    idea for providing occasion wear for kids has not
    been exploited to its full potential and since we
    intend to provide all the products under one roof
    we will have an edge over the other players in
    the market. Our mission is to provide high
    quality exclusive clothing for kids, in the
    perfect blend of fun and fashion and also
    providing suitable accessories while offering
    world class services and convenience.
  •  
  • Catering to the upper middle class, our products
    are priced between Rs 999 to Rs 3500, market
    skimming being our strategy. Outsourcing our
    production, the management will ensure that
    products are manufactured keeping ISO 9001
    certified and total quality management practices
    which will ensure top quality products. Our
    manufacturing processes ensure six sigma ratings
    thereby claiming negligible defects in our
    processes (less than 3.4 in every million). We
    propose to start with a capital of Rs. 4 lakhs,
    while taking a Rs. 6 lakh loan from SBI. A
    property jointly owned by the founders of this
    business located at Karol Bagh, now valued by the
    bank at Rs. 10 lakh will act as collateral for
    the loan.
  •  
  • The four partners and promoters behind the group
    have exceptional knowledge, expertise and
    experience in the field of fashion and designing.
    We intend to hire a marketing team and accounts
    personnel. The strength of the business lies with
    the design team who will create products that
    will break the mould of the existing fashion
    scenario of kidswear. We propose to start with
    two stores- one in Saket and the other in
    Gurgaon- both in MGF Metropolitan mall. For
    promoting the store, we would offer inaugural
    discounts, complimentary gifts for kids while
    advertising in cartoon channels and hiring child
    artists as our brand ambassador.

3
Company Overview
4
  • Mission Statement
  • To provide high quality exclusive clothing for
    kids, in the perfect blend of fun and fashion and
    also providing suitable accessories while
    offering world class services and convenience.
  • Goals and Objectives
  • To provide occasion wear for children. This has
    been an opportunity that has not been exploited
    to its full potential. There are many brands that
    offer kids wear but very few that offer designer
    kids wear especially for occasions. Our brand,
    thereby wants to make the best use of this
    opportunity, by offering a variety of designer
    kids wear for different occasions
  • To provide the benefit of availability of all
    products under one roof to the consumers. In
    order to match with the outfits available, the
    store also provides a range of accessories for
    every occasion and theme.
  • To open up retail stores in all metropolitan
    cities of the country

5
Values Bloom believes in being present at the
right place, at the right time and providing the
right services to the people. The group has a
dedicated and well qualified team of experts who
have taken the right step in entering into this
market which upholds huge potential Foundati
onal Values Resultant Values Integrity and
honesty Customer Service Innovation Exce
llence Customer orientation Empowerment Accur
acy Achievement Commitment
Community Benefit Enthusiasm Competitive
Edge Responsiveness Market Leader
6
Relevant Skills and expertise The four partners
and promoters behind the group have exceptional
knowledge, expertise and experience in the field
of fashion and designing. Following are their
details regarding their achievements so
far Kriti Mehta Kriti started her career in
fashion by completing her Masters Degree in
fashion design in Indian Wear from Pearl Academy
of Fashion, New Delhi. After graduating, she
worked with the renowned brand name Satya Paul
for two years. Within a year she was promoted as
the lead designer under Contemporary print
designs and managed a team of 5. She then took a
break and pursued a one year management course
specializing in fashion retail and marketing. She
then got together with her friends and started
this venture. Kritika Dawar After graduating
from a Delhi University with a degree in
commerce, Kritika wanted to do more with her life
then to pursue an MBA and follow the rat race.
Having a flair for designing she got selected to
pursue Fashion Designing in Indian Wear from
Pearl Academy of Fashion, which she cleared with
flying colors. She then worked with the famous
designer Gaurav Gupta (Akaaro) for two years. She
then went on and completed a management degree in
retail and marketing.
7
Miriam J. Thomson After completing an Honors
Degree in Economics from Jesus and Marys
College, Delhi University, Miriam completed a
short term course in Adobe Illustrator from
London College of Fashion. She also completed a
summer course of stitching and sewing from
Central St. Martins, London. Apart from this she
also pursued a month course on introduction to
Design from IED, Milan. Having a rich exposure
and a multinational experience in this filed, she
then pursued her design degree from Pearl Academy
of Fashion in Indian Wear. She then worked with
Designer Sanchita in FDCI 2008 and Designer Amber
Firoz in Delhi Fashion Week. She also underwent a
one month internship in Arvind Mills. Stuti
Goel After having completed a Hotel Management
degree from IHM, Pusa, Stuti enrolled herself in
Pearl Academy of Fashion to pursue her Masters in
Indian Wear. She worked for the famous designer
Amit GT in FDCI 2008 and Julie Scarland 2009. She
also pursued a month long internship with the
company Yorks. After having gained such work
experience, she went on to pursue a management
degree in fashion merchandising and retailing
from London College of Fashion.
8
  • Resources Required
  • Designing will be done in house
  • The company will be employing around 6 employees
    to look after the retail outlets.
  • The company will be outsourcing the finished
    products.

9
Operations and Management Plan
10
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11
Responsibilities of the Management
  • Apparel Design Director
  • -Manage a diverse team of product designers,
    creating ranges for kidss exclusive occasion
    wear.
  • -managing apparel and graphic designers through
    the design and product creation process,
    providing direction and feedback.
  • -Working on Seasonal design stories and creation.
  • -Work closely with Sr. designers to translate
    seasonal concepts to product lines.
  • -Attend fit and proto review sessions make
    revisions to artwork design tech packs.
  • -Identify solutions and resolve costing/margin
    issues.
  • -create a strong synergy between design,
    development and product marketing.http//www.linke
    din.com/jobs?viewJobjobId757405
  • Accounts Manager
  • -ensuring that funds are spent and managed
    according to the goals, objectives and mission of
    the organization.
  • -allocation of expenditures is appropriate to the
    function identified for the account.
  • -allocation of expenditures is appropriate to the
    function identified for the account.
  • Marketing Manager
  • -Establishes marketing goals to ensure share of
    market and profitability of products and/or
    services.
  • -Plans the organization's advertising and
    promotion activities including print, electronic,
    and direct mail outlets.
  • -Guiding the customer service manager to maintain
    positive customer service relationships with all
    customers. (https//www.jobdescription.com/content
    /complet1.asp)

12
Industry/Market Analysis
  • Children below 18 years account for more than a
    third of Indias population estimated at 950
    million in 1995. Today, young children (0-6
    years) account for 17.5 of Indias population,
    an estimated 166 million.
  • Close to 27 million children are born every year
    and it is estimated that the same numbers will
    be born every year, as Indias population is
    expected to rise (http//wcd.nic.in/udisha/htm/cat
    alogue/2.doc)
  • SIZE AND STUCTURE
  • According to the India Apparel Report, 2008
    (Images Year Book, Vol IV), the size of kidswear
    market is estimated to be at Rs. 30, 510 crore
  • Although, most of it is dominated by the
    unorganised sector, the organised sector
    (i.e.brands), however, is growing at an average
    of 20 per cent against the 30-35 per cent for the
    overall industry.
  • Clearly, there is a huge potential and space for
    more organised players to come in and take a
    larger bite of the market

13
Customer Analysis Characteristics of the Indian
Kids Wear Market
  • Branded kids apparels is one of the most
    fascinating and complex facets of retailing
  • Large variety, segmented customer profile,
    changing tastes, childrens buying behaviour,
    influence of parents and media makes a huge
    difference in the purchase decision
  • Apparel, by its very nature, thrives on variety
    and more so in the case of kids. Besides, kids
    have a natural tendency to outgrow their clothes
    very fast, necessitating change, which in this
    case implies new offerings
  • A cursory analysis of the kids buying behaviour
    indicates that they are an independent customer
    group displaying considerable pester power that
    they have inculcated and now seem to be exerting.
  • Additionally, kids are highly self conscious and
    can be easily affected by peer pressure, at a
    very young age, and thus can be very demanding,
    often at the cost of the parents peace of mind
    if not their pockets. It is not uncommon to hear
    a kid throw a tantrum to the effect I dont
    want to wear this.

14
  • Todays kids are more fashion conscious, and are
    ready to experiment with clothing.
  • Increase in the amount of disposable income, and
    retail blitz has brought a sea change in the
    Indian kids apparel market.
  • With kidswear being considered as a part of the
    lifestyle segment and a strong emphasis being
    placed on brands, this segment proves to be a
    potential successful business (http//www.scribd.c
    om/doc/18795157/Indian-Kids-Wear-Market)
  • Children's clothes in India started out as
    miniature versions of popular adult wear.
    Internationally, children's wear has its own
    trends forecasting, trade shows and a production,
    marketing and publicity set-up that rivals the
    adult business. (http//www.scribd.com/doc/1879515
    7/Indian-Kids-Wear-Market)
  • A huge volume of kids apparel in India is being
    dominated by local and unorganized players. This
    gives an excellent opportunity for the organized
    players to lay a strong foundation in this
    segment. Indian market is now moving towards an
    international look in terms of childrens
    apparel. (http//www.scribd.com/doc/18795157/India
    n-Kids-Wear-Market)

15
Competitors
  • So far, the organised market was dominated by
    Lakhani-owned Gini Jony Apparels with a 30 per
    cent market share, followed by Weekender Kids and
    Ruff Kids
  • Pantaloon has entered into a 5050 JV with Gini
    Jony to set up a retail chain to market kids
    apparel.
  • Raymond recently introduced its maiden kidswear
    brand - Zapp!, with its first outlet running
    in Ahmedabad.
  • DS Corporation, which owns 14 retail stores in
    India for children, and has brands such as Ruff
    Kids and Ruff Baby, is set for a major expansion
    plan.
  • Whats more, even jeans companies such as Spykar,
    Pepe Jeans and Killer are trying to climb onto
    the bandwagon.
  • International kids wear brand such as Tommy
    Hilfiger, Freelook Junior, Adam Kids and Walt
    Disney are making efforts to foray into India

16
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17
STP
  • Segmenting the market on the basis of demographic
    characteristics i.e. age of kids,
  • 3-6 yrs
  • 6-9 yrs
  • 9-12 yrs
  • Our products are targeted at the middle and upper
    middle class segment of the society with our
    products price range between Rs 999 and above
  • The positioning strategy will be based on our
    efforts to make the parents as well as kids aware
    of our brand offerings and creating interests as
    well as desire to purchase our products

18
Positioning
  • Following methods can be followed to create
    effective positioning
  • For Parents
  • Awareness about our product offerings stressing
    upon the Occasion Wear product lines (both
    Indian as well as Western)
  • One stop shop for designer occasion wear solution
    for every kind of occasion. Festivals, weddings,
    theme parties, birthdays the point is to take
    the burden off the parents shoulders in providing
    them solutions to dress up their kids which other
    competitors are not offering
  • For kids
  • Highlight our Brand Name in all promotional
    campaigns. Kids these days love wearing branded
    clothes
  • Associate our brand with something they can
    relate to a famous cartoon character can be an
    example or a famous child artist can be hired as
    a brand ambassador

19
Marketing Mix
  • Product
  • Our core product offerings are designer occasion
    wear for children, for both Indian as well as
    Western Wear
  • We also offer matching accessories with apparels
    like hairclips, earrings, bangles, belts, shoes,
    caps and bags
  • Our products depict latest trends and designs as
    designed by our own designers matching industry
    standards and keeping in view the needs of our
    target customers, thereby making them visually
    appealing to the kids
  • The fabrics used in our clothing are pure forms
    and synthetics and nylons are not used at all
  • All our products and processes are ISO 9001
    certified and total quality management practices
    followed by our company ensures top quality
    products
  • Our manufacturing processes ensure six sigma
    ratings thereby claiming negligible defects in
    our processes (less than 3.4 in every million)

20
Main Product Lines
  • Indian Wear
  • Girls
  • Lehenga Choli
  • Salwar Suit
  • Churidar Kurtas
  • Blouses and Sarees
  • Stitched Sarees/Lehengas
  • Kurtis
  • Indian Wear
  • Boys
  • Kurta/Pyajamas
  • Sherwanis
  • Dhoti/Kurtas

21
Product Lines
  • Western Wear
  • Girls
  • Tops
  • T-Shirts
  • Shirts
  • Skirts
  • Shorts
  • Jeans
  • Trousers
  • Jackets
  • Pullovers and Cardigans
  • Western Wear
  • Boys
  • Tuxedos
  • Shirts
  • Trousers
  • Jackets
  • Waist Coats
  • Jackets
  • Pulllovers

22
Place Distribution
  • Our distribution pattern is fairly simple. All
    manufacturing takes place in house in our
    factories conforming to strict quality standards
    of production thereby ensuring high final product
    quality
  • Raw materials are acquired from well known and
    established suppliers
  • The warehouses are located inside factory
    premises as we do not carry much inventory levels
    due to the nature of the fashion industry as
    trends and designs keep changing quickly
  • Currently, we have two retail outlets in the
    region of Delhi NCR region. Both outlets are
    located in Metropolitan mall in Saket and
    Gurgaon.

23
Growth trends and Future Potential
  • The kids wear market in the country is mainly
    divided into two parts organised and unorganised,
    with the latter having a larger part of the
    market share. However, the organised sector is
    catching up due to their inherent advantages in
    their product offerings (i.e. quality, designs
    and trends) as well as increasing craze of brands
    amongst children
  • According to Global market review of childrens
    wear Forecasts to 2012, the top ten global
    markets (which includes India) would account for
    an estimate of US 92.6 billion in childrens
    apparel retail sale
  • Indian kids apparel brands are creating a niche
    by themselves by changing the face of Indian kids
    wear in India
  • Industry experts predict that the market will
    further grow to reach Rs.45, 000 crore by 2013,
    with branded apparels contributing to a major
    share.(http//www.scribd.com/doc/18795157/Indian-K
    ids-Wear-Market)
  • The volume of market share of kid?s apparels in
    the total apparel market is at 24.9, as against
    a 15 share in 2005. (http//www.scribd.com/doc/18
    795157/Indian-Kids-Wear-Market)
  • Urban kids apparel market comprises about 60 of
    the total kidswear market. A research states that
    more than 30 of the country?s population is
    below 15 years of age. The density of population
    makes kidswear to be one of the fastest growing
    segments in the Indian market scenario
    (http//www.scribd.com/doc/18795157/Indian-Kids-We
    ar-Market)

24
Pricing
  • Our pricing techniques mainly follow Market
    Skimming techniques
  • As most of our products are made from high
    quality fabric and depict latest designs and
    trends in fashion, they are priced a bit on the
    higher side to avail profit
  • The remaining product offerings which are basic
    to industry standards and some accessories are
    priced according to the value they offer to the
    consumers, thereby targeting the lower middle
    class as well as to compete with other players in
    the market

25
Promotion Strategies
  • Inaugural Discount on purchases for the first
    month in order to increase brand awareness
  • Complementary gifts for kids for the first few
    days of opening of the store
  • Further gift vouchers for purchases exceeding a
    certain limit
  • Advertising strategies would mainly aim at
    promoting brand awareness amongst the parents as
    well as children as both play an equal part in
    purchasing decisions
  • Colorful television ads on cartoon channels or
    during special kids events in order to attract
    kids
  • Interactive advertisement on internet (on kids
    websites) and TV .
  • Designing advertisements in a way so as to
    project a cooler image of kids wearing our brand
    of clothes in those commercials
  • Hiring famous child actors as our brand
    ambassador

26
Financial Plan
27
Nov Projections have been increased by 5 and Dec
have been increased by 15.
28
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29
COSTING PER UNIT
30
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31
BREAK EVEN ANALYSIS
32
References
  • http//www.apunkachoice.com/scoop/fashion/20041026
    -0.html
  • http//www.scribd.com/doc/18795157/Indian-Kids-Wea
    r-Market
  • www.corbis.com
  • http//www.ventureintelligence.in/blog/2006/11/kid
    s-wear-market.html
  • http//www.financialexpress.com/news/capturing-chi
    ldrens-apparel-market-in-india/184879/
  • http//www.financialexpress.com/news/capturing-chi
    ldrens-apparel-market-in-india/184879/0
  • http//www.scribd.com/doc/18795157/Indian-Kids-Wea
    r-Market

33
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