Opportunity
Problem
New Look wants to build on its reputation as a trusted retailer for men’s clothing and to be able to produce a high-end clothing line for men between 20-40 years old. New Look is responsible for the development of the clothing line and supports it with promotional campaigns and advertising. The company plans to strengthen its partnership with retailers by developing brand awareness. New Look plans to market its brand as an alternative to the existing clothing lines and to differentiate itself through marketing strategies, exclusivity, and high brand awareness.
The New Look collection is synonymous with elegant, sophisticated, fashionable, and luxurious clothing. The company has a diverse promotional plan that includes multiple marketing communications. The company plans to create accessories for children, men, and women in the future. These accessories will include cologne/perfumes, jewelry and eyewear.
Solution
New Look does more than just develop the clothing line. They also support it with marketing and promotional campaigns. The company hopes to improve its partnership with retailers by increasing brand awareness.
Market
Our customers are males between the ages of 20 and 40 with a disposable household income. There are no color restrictions within this group and customers come from many backgrounds. New Look’s customer is versatile and can be found in any setting. He is also willing to pay for high-quality clothing.
Competition
Companies are looking to improve their efficiency and adopt new technologies. As larger companies gain market positions and cut costs, consolidation has been a common trend in this industry over the past few years. In the apparel business, companies can choose to be retailers or manufacturers (wholesalers), but not both. For instance, Gap, Inc., a vertical retailer, manufactures and markets their own apparel and accessories. VG Corporation, for example, is a manufacturer that sells to retailers only. Tommy Hilfiger, for example, does both. It sells its products to retailers and consumers through retail outlets.
Why Us?
We are an alternative for existing clothing lines. Our lines are unique, so your coworkers and other fashion-conscious friends won’t be able to buy the same thing. Because we are so aware of the latest trends and brands, your friends will envy you because you were the first to find them.
Expectations
Forecast
The company’s goal was to grow its retail business into online sales, using its own branding. It will be available for sale by the end the period in other retail outlets as well as online.
Financial Highlights for the Year
Finance is required
We are looking to expand the design lines of our company so our owner will invest $65,000. We also need a $115,000 small business loan. Both will be paid back by our second year with our already established customer base and relationships