Suited
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First impressions are important and the way you dress can convey confidence, flexibility, assertiveness, and power. SUITED is an online company that creates bespoke suits and shirts for the modern man. It's fast, easy, and affordable. Imagine, you no longer have to pay thousands of dollars to look like a million bucks! You simply input your measurements into our website, customize your shirt or suit, and place your order. Your order will be shipped directly to your house ready to wear in three weeks!
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Suited
- 1. Suited Because one size doesnt fit all 1
- 2. Agenda Potential growth opportunities Objectives Strategic value SUITEDs product advantages Product Advantage A.T.A.R. Model Technical Feasibility 2 Competitive Landscape Market Budget Allocation Environmental, Health, and Safety Synergies Return vs. risk ratio (Financials) Requirements to launch the business Questions
- 3. SUITEDs Objectives Market share (0.015% in first year) 0.05% growth year over year Trial and repeat purchases (ATAR) Maintain a profit margin of 30% 3
- 4. Potential Growth Opportunities by Industries 4
- 5. Strategic Alignment: Mobile Potential 5
- 6. SUITED takes care of all 3 issues that men are currently looking for when purchasing clothes online 6
- 7. Strategic Value Mens apparel is a $10.3B Industry (2016) Consumer trends are indicating an increasing use of technology to purchase clothing Made-to-order clothing are considered luxury items and are priced that way too SUITED marries the idea of using technology and made-to-order clothes for an affordable price 7
- 8. Product Advantage Is there a market need 14.2% annual growth rate in online sales of mens clothing from 2015 to 2020 73% of respondents in top two boxes Unique benefits Look more professional Have more confidence Have more positive impressions Value for money 25-40% less expensive than the direct competitors 8
- 9. A.T.A.R Model 9 ~ 26M people in our target market 0.16% awareness 17% trial 90% available 20% repeat Retail price From $300/suit 30% Profit Margin SUITED As planned Best case Worst case Target market (MM) 26.0 26.0 26.0 Awareness 0.16% 0.3% 0.1% ACV 40% 50% 30% % of households repurchasing 20% 40% 10% Repeat purchase occasions 1 1 1 Retail sales value ($MM) $0.5M $1.1M $0.107M Suited's Sales Volume ($MM) $0.375M $0.9M $0.081M
- 13. Environmental, health, and safety Vietnam regulations Ensure that seamstresses are being paid market rate Trade agreements Customs Freight on Board (FOB) Sweatshops Raw materials are ethically sourced 13
- 14. Synergies Leveraging marketing through pinpointing target demographic, Google Adwords, and other social media sites Distribution: Direct-to-consumer (DTC) Selling through website to increase total profit margins Technical leverage: founder expertise in supply chain knowledge and manufacturing Operations and process expertise: quality assurance specialist Technical interface between website and manufacturing: communication via email, phone, and other collaborative software 14
- 15. Return vs. risk ratio (Financials) 15
- 16. Next steps.... 16 Website Clarity Consistent in design Guidance Credibility 95% of test users success rate Measurement guideline Clarity 98% of test users can understand 95% of test users can follow the guideline to measure themselves Products Delivery time: within 3 weeks on 95% on test orders 90% positive feedbacks Regional roll out: 1st destination: San Francisco Next: Los Angeles, New York, Washington D.C., Boston, Chicago & Seattle User test requirements to launch the products:
- 17. Questions? 17
- 18. References Damodaran, A. (2016). Cost of capital by sector (US). Retrieved on April16, 2016 from http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/wacc.htm. IBISWorld. (2016). Mens clothing stores in the US: IBISWorld Industry Report 44811. Retrieved April 12, 2016 from http://0- clients1.ibisworld.com.library.ggu.edu/reports/us/industry/default.aspx?entid=1066. Indochino. (2016). Indochino. Retrieved April 12, 2016 from http://www.indochino.com/. Mintel. (2016). Men's Clothing - March 2016. Retrieved April 15, 2016 from http://0- academic.mintel.com.library.ggu.edu/display/766344/?highlight#hit1 MTailor. (2016). mTailor. Retrieved April 12, 2016 from https://www.mtailor.com/. Tailored Brands. (2016). Investor Relations. Retrieved April 12, 2016 from Trumkaker. (2016). Trumaker. Retrieved April 12, 2016 from https://www.trumaker.com/. 18
Editor's Notes
- #3: Stacey
- #4: Stacey Bring up key economic drivers for mens apparel industry
- #5: Masa
- #6: Stacey
- #7: Stacey
- #8: Duong: "Sales of men's clothing are expected to increase over the next five years, with growth outpacing women's clothing sales. Men's interest in their appearance, advances in online shopping, and interest in innovations will contribute positively. Mobile continues to be remain under-utilized despite its potential. " -Rupa Ghosh, Travel & Leisure Analyst, Mintel
- #9: MASA
- #10: Duong
- #11: Stacey
- #12: Stacey
- #13: Masa; Marketing strategy
- #14: Duong Audit supply chains
- #15: Masa
- #16: Stacey
- #17: Duong