VSwift - mostly of the sluggish fashion companies in Hong Kong. The name VSwift is from the word Versus Swift. As the name means, we are launching a thought against fast fashion, the present fashion tendency of Hong Kong.
VSwift provides garment including Tee shirts, sweaters, jackets, shorts, belts and shoes for both women and men. Our products' offering tips are "fair trade", "ecological" and "organic", that happen to be main concepts of sluggish fashion. These allow staff to truly have a reasonable repay and to protect the environment.
Slow Fashion VS Fast Fashion
It is well-known that Hong Kong is a rapid growing city. People in this urban always want things to be achieved in a fast way, even popular as well. Nowadays, the textile and clothing industry has a speedy characteristic. That's where the key phrase "fast fashion" developed. A brief classification of "fast fashion" is fast in creation (Antonia Finnane, 2008); just in-time creation and it need to launch the product at the earliest opportunity. Therefore, manufacturers need to carefully turn an example or design sketch into a done product in as brief as 12 times. Meanwhile, customers have an easy consumption behavior. Over decays, this metropolitan has always been following the trend of fast fashion. However, fast fashion has its negatives, for example, it is unsustainable thus has a short product life circuit which is non-environmental-friendly. Therefore, it's the time to displace "fast" by "slow".
Fast Fashion Slow Fashion
"Fast fashion is approximately greed. It is time to slow down and consider the true cost of choosing number over quality. " Mentioned by Kate Fletcher(2012), a creator of the look for sustainability consultancy of slow fashion.
The term "slow fashion" may not be familiar to the general public. Additionally it is known as "organic fashion". The word "organic" is very recognizable. However, when people discuss "organic" you will not think there's a romantic relationship with fashion. "Slow fashion" has already been launched and it is very popular in the UK and AUS fashion industry. It really is a thought that could reduce the amount of extra usage by honoring local and authentic, flavor education and high quality. One method to start poor fashion is to build up personal style (Gwilt & Rissanen, 2011). Normally, gradual fashion is not a typical seasonal fashion trend; this can be a movement that is constantly attaining momentum and is probable here to remain.
Why Starting in Hong Kong?
Hong Kong doesn't have many companies in this field, therefore you want to introduce and develop this new market. You can find two known reasons for us to kick off VSwift in Hong Kong. Firstly, anticipated to globalization, Hong Kong people have a tendency to follow the international style, aiming at green products. And one of the merits of sluggish fashion products is ecological, which has an increasing emphasis in Hong Kong. The other reason is the fact employees in Hong Kong always fight for their privileges and benefits; one of the instances is the statutory least wage (SMW) adjustment adopted by the Chief Exec (CE)-in-council which tabled at the Legislative Council on 19 December 2012. To expose good trade, this is another merit of poor fashion. This benefits in Hong Kong will let employers to target more on the employees, thus the protection under the law and great things about work force would be attached importance to.
Our Concentrate on Market
VSwift focuses on customers in the middle-class to high-class aged from 25 and above. Even as we told before, the price of slow fashion is normally higher than those in fast fashion, therefore it suits customers in the middle-class and high-class. The reason behind focusing on customers aged 25 and above is that one of the ideas of sluggish fashion is conservation. Aside from their economic potential, they can be customers that graduated and doing work for one or two years. They should be not as trendy as and more mature than youngster. Instead of buying new clothes, they will appreciate the nature of sluggish fashion -long lasting and ecological.
PART B: Promotion
Vswift is a high-end fashion brand which majorly sells slow-moving fashion and eco-friendly fashion. The idea of using organic and natural materials is very essential. In order to create a natural and tranquil feeling, there is a combination of earth firmness colors, such as browns, grays, whites and tans.
The plank can be divided into three parts. Firstly, pictures of organic cotton, yarns and materials are put at left bottom corner. The concept of using organic and natural materials can be shown. Secondly, female and male collections are placed in the middle of the board. It really is effective to get customers' eyes of the major components of Vswift. Lastly, the design of the outlet is shown at the top right hand place. People can imagine the atmosphere of the outlet through the picture.
In our promotional marketing campaign, four themes are created for four months. In the springtime season, VSwift gets the theme Laid back Picnic. Within this collection, the things are casual, lovely and innocent, coordinating with patterns of gingham check and floral print out. Our designers will use our signature; organic cotton and chambray. Following in February there will be a ROMANTIC DAYS CELEBRATION sales (10% off on all items) and Valentine's deals which can be Green & Black's good trade chocolate. Following the Valentine's promotion, there will be a seasonal deal for autumn and winter garment of 2012.
Gingham check Green & Black's fair trade chocolate
In summer, influenced by tropical customs, our designers will create a Tropical Cocktail theme with Amazonian and Hawaiian prints, using organic cotton and linen as major materials. For your season, VSwift will have collaboration with OBRIS, by sponsoring Merrill Lynch walkathon T-shirts to OBRIS. This assists the business enterprise to develop in marketing opportunity, while assisting the folks in needs. Also, this can help VSwift to create a powerful network. On moms' and father's day, special deals (15% off) will be given if customers purchase 2 items or above with the parents. The aim is to increase sales volume and keep maintaining a good romantic relationship of family. Therefore, our market can be reached because parents can afford our products. Thus, reputation can be built.
Amazonian print out Merrill Lynch Walkathon
Autumn time: to fabricate a desert atmosphere, makers have merged some earth-tone colors like browns, tans and warm grays. Stylist use the habits of animal prints (e. g. reptile, leopard), mixing up with wool and mohair. In this season, designers will cross-over with bloggers and fashion students. The reason of having cooperation with students is to create a system for students showing their creativeness and talent. Additionally, VSwift will give out some seasonal products to bloggers and students to try on and post it on sites. When followers browse the blog, this can have an efficient internet promotion. Also seasonal sales will be performed in August.
Desert Atmosphere College student internship
Last but not least, winter: create a sense of old university style. This is inspire by Uk college even, using retro gingham assessments, full collected skirt, incorporating with white, navy blue and dark greyish colors. Our company will produce some pencil and word book which make by recycle newspaper. These are free gifts to customers when they purchase over HKD $700. Later on, you have the most interesting sales for customers. It's the Holiday sales in December. To commemorate this big event, consumers can have 20% off on all items in the shop and free beautification gifts in every punchers.
Pencil created by recycle paper Scholarly style Free decoration gifts
To raise up our brand name and reputation, VSwift will have a pre-sales atlanta divorce attorneys season for VIP customers. Our company use the ecological way to talk to VIP's, by mailing e-mails and announcements. Alternatively, we will mainly use high-end fashion magazines for our advertising (e. g. ELLE, VOUGE). Furthermore, by advertising in MTR train station (e. g. Admiralty, Causeway bay, Kowloon bay and Tsim Sha Tsui). VSwift will sponsors and collaborates with stars to have a publicity effect. By the end, we choose Zheng Zi yi for women collection and Tony Leung Chiu Wai for men. Both of our stars always shows up in charity happenings and they are a eco-friendly person, therefore there is absolutely no doubt for all of us to choose them.
Zheng Zi yi and Tony Leung Chiu Wai
PART C: Prices and distribution
In marketing, there are three main pricing methods namely, competition-based costs and marketing focused costs (William M. et al 2010). Cost-oriented rates is used typically by structure companies by estimating the total cost and adding a cosmetic income (Havaldar, 2010). Competition-based costs is the purchase price influenced mainly by challengers' price. Marketing oriented costing can be divided into two parts: Price skimming and penetration costing. (William M. et al, 2011). Marketing oriented costs is stood on concentrate on customer need, the strength of a business's product and competitors' product position. (Roger, 2004)
VSwift does not adopt cost-oriented costs because there are a great number of difficulties. For instance, this technique ignores the current demand, competition and customers' identified value. Thus, you won't lead to optimal price.
Furthermore, VSwift does not choose price skimming and penetration costs either as it offers several disadvantages that do not suit our products. To given, using price skimming may encourage competitors to enter the market quicker. Therefore, it lead to lower degrees of sales and fewer economies of scale, which means the costs will increase. And using penetration rates is more inflexible than using price skimming. Also, it is difficult to improve price after this coverage has been used as it might impede the maximization of earnings.
Taking the above mentioned into consideration, VSwift adopts the competition-based pricing to set the price. Our company did a lot of research about its competition's price such as Armani Exchange, D&G, DKNY, FCUK and Tommy. Discussing the desk 2 summarizing these prices; our company sets the price tag on our own product at the same level. When new VSwift's products are launched, a generally higher price can be established because our products have uniqueness and customers will be inclined to choose the product. Though using competition-based costing, not only can our company increase the income, but also build the brand name. Moreover, our company can have a competitive advantages gained by offering consumers better value, either through lower prices or by giving more benefits that justify higher prices.
Distribution Strategy - Stations of Distribution
The goal of circulation is to ensure our products can be purchased in the right volumes in the right place at the right time.
Our rivalling brands are using direct circulation which distributes products directly from a producer to the consumer as our distribution channel.
Similarly, VSwift uses immediate distribution rather than using an intermediary since it can take control over our products and providing process completely. Another major gain corresponding to Riley (2012) is that there surely is not necessary to share profit margins with others. If external distributors are omitted, travelling cost and time cost can be kept. By saving distribution cost we can give a better charges to your customers. In addition, it inhibits our products to sell alongside with contending products to affect our sales. In contrast, using an intermediary may lower our profits as these reasons and it is difficult to monitor the trend in software industry.
Selling our products on the web is also one of the techniques of direct circulation (Dent 2008). Consumers are allowed to go through the catalog on our website and immediately order the products.
Distribution Strategy - Depth of Distribution
Besides, our depth of syndication is exclusive which give an exclusive franchise to a single outlet. Matching to Charles (2009), exclusive distribution is well suited for luxury goods like vehicle and certain brands of clothing. Our brand is supposed to be high-end fashion selling luxury items; hence this strategy is appropriate to us.
On the contrary, Intensive syndication is more ideal for necessities and normal goods as well as selective distribution. Those strategies need wholesalers or sellers to carry the product.
Distribution Strategy - Location of Outlets
VSwift determines to send out our outlet to many big shopping malls including Time Square in Causeway bay, Harbor City in Tsim Sha Tsui, Festival Walk in Kowloon Tong and Pacific Place in Admiralty. Those are popular shopping malls in Hong Kong and favorable among tourists and residents, especially for the average person guests from mainland. Due to the high density of human population our sales can be boosted.
Harbor City Festivity Walk
Time Square Pacific Place
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