Tài liệu Ebook business plan for a fashion brand

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INTRODUCTION 1.1 Background When the decision of writing the thesis brought the authors together, the common point was a love and passion for the fashion industry. Taking a closer look at the list of the world’s richest people, it can be seen that within the top 10, three of them are billionaires in the field of fashion industry (Forbes 2011). On the other hand, both authors have a strong belief in Finnish design, but dislike the high prices of products made in Finland. The International Council of Societies of Industrial Design, also known as ICSID, nominates a design capital of the world every other year. Their reasoning for this comes from the fact that more than half of the world’s population now lives in urban areas and because of that design has become a fundamental tool to make cities more attractive and liveable. The World Design Capital designation is essentially a promotion project to celebrate the accomplishments of cities that use design as a tool to improve social, cultural and economic life. The World Design Capital in 2012 is Helsinki, partnered with Espoo, Kauniainen, Vantaa and Lahti. This promotion gives the authors strong belief that now is the time to utilize the current day atmosphere. (WDC Helsinki 2012.) One of the authors comes from a family of entrepreneurs and her mindframe has always suggested that she would not suit following others. Having a creative personality and desire to be in charge lead the author to want to create something new and unique that would fit the Finnish market. Yet she was well aware of the fact that competition is fierce in Finnish fashion industry and having a relatively low price would give a company a competitive advantage. The other author has always seen the potential of his home country, China, which has the reputation of being the world’s top manufacturing country (Marsh 2011). Yet for Chinese brands, China does not have something equally well known to offer the world. There are variable reasons for this, and one of the main reasons speculated by the author is the lack of good design and innovation of Chinese domestic brands. Thus when the opportunity of combining Finnish design with Chinese manufacturing knocks, the author is strongly confident in the cooperation. While in the process of deciding the thesis topic, the authors found that in the current day modern people are more and more willing to shop online (Skarda 2010). This opens the doors for the authors to target more than just the Finnish market in the future. The combination of the two authors brings together knowledge of the Finnish market and innovative design with knowledge of Chinese potential and entrepreneurial mindset. 1.2 Objectives The main objective of the thesis is to research the Finnish fashion market and to find an appropriate niche to satisfy an unfulfilled need of the Finnish consumer. With the research data that the authors will collect, they will then proceed to perfect their business idea. The secondary objective is to complete a viable business plan based on the business idea. As the business plan is a secondary goal, the authors will rather concentrate on the part of the business idea and some financial information.