To manufacture high-end silk, sustainable power-loom and hand-loom ( silk cotton mix), natural fibres, new ideas and unique prints, and woven patterns for women's and men's street-wear clothing. To be sold via an e-commerce website and high-end retail stores. This project is in its incubation period. We require funding to build our brand as a high-end clothing line. Why us?
Problem - Customers often struggle to find unique, high-quality streetwear that distinguishes them. Our company addresses the challenge of finding distinctive and high-quality streetwear by implementing stringent quality control measures and sourcing only the finest materials, ensuring our products last and provide unparalleled comfort. Potential customers frequently encounter a shortage of streetwear options that adequately cater to both men and women, leading to limited choices for consumers seeking inclusive fashion. Our company has effectively addressed a significant gap in the streetwear market by offering a comprehensive collection that caters to both men and women.
Mission Statement
"I Love High Fashion Inc. is where the art of fashion meets the heart of the community, crafting clothing that celebrates diversity and champions sustainability. We're not just making statements; we're starting conversations."
Strengths
· New unique pattern or new design concept
· Less competition due to high premium prices and never-done patterns in the North American market.
· The business has a clear target market, focusing on consumers interested in high-end camp wear, cruise wear and streetwear.
· Collaborations with influencers and fashion icons can elevate the brand's status and reach within the streetwear community.
· A solid online presence, including an e-commerce platform, enables us to reach a global audience beyond Canada.
· The business plans to leverage a robust online B2B and B2C sales platform, ensuring wide accessibility.
· Strategic partnerships with established distribution networks will facilitate efficient product delivery.
Weaknesses
· Finding skilled employees passionate about high-end streetwear may be challenging initially.
· Lack of brand recognition could make it challenging to attract top talent in the fashion industry.
· Training new employees in the specific needs of high-end streetwear production and sales could require significant resources.
· The business has limited access to funding due to its status as a new entrant in the market.
· A high initial cost is associated with setting up product manufacturing capabilities.
· A dedicated manufacturing facility for in-house production is currently lacking.
· The business does not own a warehouse for inventory storage, and specialized equipment for high-quality product manufacturing has not yet been acquired.
Opportunities
· Introducing unique patterns and eco-friendly and sustainable materials in our product lines can set us apart in the market.
. Limited edition clothing pattern design options will be offered, with only 500 pieces made annually at a high premium cost.
· Hosting virtual fashion shows and events can increase brand visibility and engagement in a digital-first world.
· Manufacturing of certain clothing items can be outsourced to specialized factories.
· Logistics and fulfillment services can be outsourced to companies with expertise in global shipping.
· Accounting and financial services can be outsourced to professional firms.
· Collaborating with social media influencers and fashion bloggers can significantly increase brand visibility and credibility.
Competitor Analysis
There are several silk dress sites, but they are mainly for women's attire. Most dress-selling sites are silk dresses, but their products are 70% silk, polyester, and 100% Viscose. These dresses are manufactured in India, Ghana and Italy. 100% Silk Dresses retail prices average between $746 to $1200 for men and women, using only basic old-fashioned floral and camp patterns/prints.
Sales & Marketing Objectives
· Target Market – 45 yrs. to 75 yrs. men and women, Celebrities, Executives, and the wealthy population.
· Conduct an online poll on the concept design samples via Instagram and Facebook to feel the market and introduce this new pattern to the North American market.
· Samples- Present samples to the current stores interested in this new style – Bloomingdale & Nordstrom. Also, talk to high-end cruise stores that might carry our products. (within 4 months of creating these samples)
· Collaborate with local influencers to reach a wider audience. (within 3 months)
We plan to achieve this by partnering with influencers and celebrities who share our brand values and aesthetics, creating genuine and engaging content that resonates with our target market.
Channels of Sales
· Explore opportunities for sales agents who are looking for new and innovative lines of clothing in major American and Canadian cities to increase brand visibility (within 8 months)
· Shopify and Etsy. Create e-commerce stores to sell these items.
· Host pop-up shops in major cities to increase physical presence. (within 12 months)
Sales & Marketing Objectives
· Target Market – 45 yrs. to 75 yrs. men and women, Celebrities, Executives, and the wealthy population.
· Conduct an online poll on the concept design samples via Instagram and Facebook to feel the market and introduce this new pattern to the North American market.
Strategic Objectives
· To find angel investors or crowd financing in the incubator period and start-up stage.
· Apply for Government grants.
· Establish a strong brand identity that resonates with high-end streetwear enthusiasts (within 12 months)
. Implement sustainable practices in the production and supply chain to minimize environmental impact (within 12 months)
Operational Objectives
· Launch a user-friendly website with seamless e-commerce capabilities (within 3 months)
· Establish a reliable supply chain for high-quality fabrics and materials (within 15 months)
· Implement an efficient inventory management system to track stock levels in real-time (within 30 months)
· Develop a comprehensive employee training program focused on customer service excellence (within 36 months)
. Set up an eco-friendly waste management system for production and packaging (within 36 months)
Long Term Objectives
. Establish a strong brand identity that resonates with our target market across Canada and USA. (within 2 years)
· Build a robust online presence through an e-commerce platform and social media engagement. (within 2 years)
· Achieve international and nationwide distribution in major retail outlets and independent boutiques. (within 2 years)
. Expand our product line to include eco-friendly and sustainable streetwear options. (within 5 years)
Direct Distribution and Indirect Distribution
The business will evenly split its distribution strategy between direct and indirect channels, allocating 50% of its efforts to each. This balanced approach allows the company to maintain a strong connection with its customers through direct sales while also leveraging the reach and efficiency of indirect distribution methods to expand its market presence. By employing a dual-channel distribution model, the business aims to maximize its accessibility to both men and women seeking high-end and mid-range streetwear(eventually), ensuring a broad and diverse customer base.