VSwift – one of the few slow manner companies in Hong Kong. The name VSwift is from the word Versus Swift. As the name implies, we are presenting a construct against fast manner, the present manner tendency of Hong Kong.
VSwift provides garment including Tee shirts, jumpers, jackets, bloomerss, belts and places for both adult females and work forces. Our merchandises ‘ merchandising points are “ just trade ” , “ ecological ” and “ organic ” , which are chief constructs of slow manner. These allow workers to hold a sensible wage back and to protect the environment.
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Slow Fashion VS Fast Fashion
It is well-known that Hong Kong is a rapid turning metropolis. Peoples in this urban ever want things to be done in a fast manner, even in manner every bit good. Presents, the fabric and vesture industry has a rapid feature. This is where the phrase “ fast manner ” invented. A brief definition of “ fast manner ” is fast in production ( Antonia Finnane,2008 ) ; merely in-time fabrication and it need to establish the merchandise every bit shortly as possible. Therefore, makers need to turn a sample or design study into a finished merchandise in every bit short as 12 yearss. Meanwhile, buyers have a fast ingestion wont. Over decays, this metropolitan has ever been following the tendency of fast manner. However, fast manner has its disadvantages, for case, it is unsustainable therefore has a short merchandise life rhythm which is non-environmental-friendly. Therefore, it is the clip to replace “ fast ” by “ slow ” .
Fast Fashion Slow Manner
“ Fast manner is about greed. It is clip to decelerate down and see the true cost of taking measure over quality. ” Mentioned by Kate Fletcher ( 2012 ) , a laminitis of the design for sustainability consultancy of slow manner.
The term “ slow manner ” might non be familiar to the populace. It is besides known as “ organic manner ” . The word “ organic ” is really recognizable. However, when people mention “ organic ” you will non believe there is a relationship with manner. “ Slow manner ” has already been launched and is really popular in the UK and AUS manner industry. It is a idea that could cut down the sum of extra ingestion by honouring local and reliable, gustatory sensation instruction and high quality. One method to get down slow manner is to develop personal manner ( Gwilt & A ; Rissanen, 2011 ) . Normally, slow manner is non a typical seasonal manner tendency ; it is a motion that is invariably achieving impulse and is likely here to remain.
Why Establishing in Hong Kong?
Hong Kong does non hold many companies in this field, therefore we want to present and develop this new market. There are two grounds for us to establish VSwift in Hong Kong. First, due to globalisation, Hong Kong people tend to follow the international tendency, taking at environmentally friendly merchandises. And one of the virtues of slow manner merchandises is ecological, which has an increasing accent in Hong Kong. The other ground is that employees in Hong Kong ever fight for their rights and benefits ; one of the illustrations is the statutory minimal pay ( SMW ) accommodation adopted by the Chief Executive ( CE ) -in-council which tabled at the Legislative Council on 19 December 2012. To present just trade, this isA another virtue of slow fashion.A ThisA advantageA in Hong Kong will allow employersA toA focal point more on their employees, therefore the rights and benefits of labour force would be attached importance to.
Our Target Market
VSwift targets clients in the middle-class to high-class aged from 25 and supra. As we told before, the monetary value of slow manner is by and large higher than those in fast manner, therefore it suits clients in the middle-class and high-class. The ground for aiming clients aged 25 and above is that one of the constructs of slow manner is preservation. Apart from their economic capableness, they are clients that graduated and working for one or two old ages. They should be non every bit voguish as and more mature than youngster. Alternatively of purchasing new apparels, they will appreciate the spirit of slow manner -long permanent and ecological.
Part B: Promotion
Vswift is a high-end manner trade name which majorly sells slow manner and eco-friendly manner. The construct of utilizing organic and natural stuff is really indispensable. In order to make a natural and placid temper, there is a combination of Earth tone colourss, such as browns, greies, Whites and sunburns.
The board can be divided into three parts. First, images of organic cotton, narrations and cloths are placed at left underside corner. The construct of utilizing organic stuffs can be presented. Second, female and male aggregations are placed in the center of the board. It is effectual to catch clients ‘ eyes of the major points of Vswift. Last, the ornament of the mercantile establishment is shown on the top right manus corner. Peoples can conceive of the ambiance of the mercantile establishment through the image.
In our promotional run, four subjects are created for four seasons. In the spring season, VSwift has the subject Relaxed Picnic. In this aggregation, the points are insouciant, sweet and guiltless, fiting with forms of gingham cheque and flowered print. Our interior decorators will utilize our signature ; organic cotton and chambray. Following in February there will be a Valentine ‘s Day gross revenues ( 10 % off on all points ) and Valentine ‘s bundles which are Green & A ; Black ‘s just trade cocoa. After the Valentine ‘s publicity, there will be a seasonal sale for fall and winter garment of 2012.
Gingham cheque Green & A ; Black ‘s just trade cocoa
In summer, inspired by tropical imposts, our interior decorators will make a Tropical Cocktail subject with Amazonian and Hawaiian prints, utilizing organic cotton and linen as major stuffs. For the whole season, VSwift will hold coaction with OBRIS, by patronizing Merrill Lynch walkathon Jerseies to OBRIS. This can assist the concern to spread out in selling chance, while assisting the people in demands. Besides, this can assist VSwift to bring forth a powerful web. On female parents ‘ and father ‘s twenty-four hours, particular offers ( 15 % off ) will be given if clients purchase 2 points or above with their parents. The purpose is to increase gross revenues volume and keep a good relationship of household. Consequently, our mark audience can be reached because parents can afford our merchandises. Therefore, repute can be built.
Amazonian print Merrill Lynch Walkathon
Autumn clip: to manufacture a desert atmosphere, Godheads have combined some earth-tone colourss like browns, sunburns and warm greies. Stylist will utilize the forms of carnal prints ( e.g. reptilian, leopard ) , blending with wool and mohair. In this season, interior decorators will cross-over with bloggers and manner pupils. The ground of holding cooperation with pupils is to organize a platform for pupils to demo their creativeness and endowment. Furthermore, VSwift will give out some seasonal merchandises to bloggers and pupils to seek on and post it on web logs. When followings read the web log, this can hold an effectual cyberspace publicity. Besides seasonal gross revenues will be held in August.
Desert Atmosphere Student internship
Last but non least, winter: make a feeling of old school manner. This is inspire by British college uniform, utilizing vintage gingham cheques, full gathered skirt, uniting with white, navy blue and dark Grey colourss. Our company will bring forth some pencil and note book which make by recycle paper. These are free gifts to clients when they purchase over HKD $ 700. Subsequently on, there is the most exciting gross revenues for clients. It is the Christmas gross revenues in December. To observe this large festival, consumers can hold 20 % off on all points in the store and free ornament gifts in every cowboies.
Pencil made by recycle paper Scholarly manner Free ornament gifts
To hike up our trade name name and repute, VSwift will hold a pre-sales in every season for VIP purchasers. Our company will utilize the ecological manner to maintain in touch with VIP ‘s, by directing electronic mails and messages. On the other manus, we will chiefly utilize high-end manner magazines for our advertisement ( e.g. ELLE, VOUGE ) . In add-on, by advertisement in MTR station ( e.g. Admiralty, Causeway bay, Kowloon bay and Tsim Sha Tsui ) . VSwift will patronize and collaborates with famous persons to hold a promotion consequence. At the terminal, we choose Zheng Zi Lolo for ladies aggregation and Tony Leung Chiu Wai for work forces. Both of our famous persons ever appears in charity events and they are a eco-friendly individual, hence there is no uncertainty for us to take them.
Zheng Zi Lolo and Tony Leung Chiu Wai
Part C: Pricing and distribution
In selling, there are three chief pricing methods viz. , competition-based pricing and selling oriented pricing ( William M. et Al 2010 ) . Cost-oriented pricing is used typically by building companies by gauging the entire cost and adding a make-up net income ( Havaldar, 2010 ) . Competition-based pricing is the monetary value influenced chiefly by rivals ‘ monetary value. Selling oriented pricing can be divided into two parts: Price skimming and incursion pricing. ( William M. et Al, 2011 ) . Marketing orientated pricing is stood on mark client demand, the strength of a concern ‘s merchandise and rivals ‘ merchandise place. ( Roger, 2004 )
VSwift does non follow cost-oriented pricing because there are a batch of troubles. For illustration, this method ignores the current demand, competition and clients ‘ perceived value. Therefore, it will non take to optimum monetary value.
Furthermore, VSwift does non follow monetary value skimming and incursion pricing either as it has several disadvantages that do non accommodate our merchandises. To specified, utilizing monetary value skimming may promote rivals to come in the market more rapidly. Therefore, it result in lower degrees of gross revenues and fewer economic systems of graduated table, which means the costs will increase. And utilizing incursion pricing is more inflexible than utilizing monetary value skimming. Besides, it is hard to raise monetary value after this policy has been used as it may impede the maximization of net income.
Taking the above into consideration, VSwift adopts the competition-based pricing to put the monetary value. Our company has done a batch of research about its competition ‘s monetary value such as Armani Exchange, D & A ; G, DKNY, FCUK and Tommy. Mentioning to the tabular array 2 sum uping these monetary values ; our company sets the monetary value of our ain merchandise at the same degree. When new VSwift ‘s merchandises are launched, a by and large higher monetary value can be set because our merchandises have uniqueness and clients will be willing to purchase the merchandise. Though utilizing competition-based pricing, non merely can our company increase the net income, but besides build the trade name name. Furthermore, our company can hold a competitory advantage gained by offering consumers greater value, either through lower monetary values or by supplying more benefits that justify higher monetary values.
Distribution Strategy – Channelss of Distribution
The purpose of distribution is to guarantee our merchandises are available in the right measures in the right topographic point at the right clip.
Our viing trade names are utilizing direct distribution which distributes merchandises straight from a manufacturer to the consumer as our distribution channel.
Similarly, VSwift uses direct distribution alternatively of utilizing an intermediary because it can take control over our merchandises and selling procedure wholly. Another major benefit harmonizing to Riley ( 2012 ) is that there is non necessary to portion net income borders with others. If outside distributers are omitted, transit cost and clip cost can be saved. By salvaging distribution cost we can give a better pricing to our clients. It besides prevents our merchandises to sell aboard with viing merchandises to impact our gross revenues. In contrast, utilizing an mediator may take down our net incomes as the above grounds and it is hard to supervise the tendency in market place.
Selling our merchandises on the Internet is besides one of the methods of direct distribution ( Dent 2008 ) . Consumers are allowed to look at the catalog on our web site and straight order the merchandises.
Distribution Strategy – Intensity of Distribution
Besides, our strength of distribution is sole which give an sole franchise to a individual mercantile establishment. Harmonizing to Charles ( 2009 ) , sole distribution is suited for luxury goods like vehicle and certain trade names of vesture. Our trade name is supposed to be high-end manner selling luxury points ; hence this scheme is appropriate to us.
On the contrary, Intensive distribution is more suited for necessities and normal goods every bit good as selective distribution. Those schemes need jobbers or retail merchants to transport the merchandise.
Distribution Strategy – Location of Mercantile establishments
VSwift decides to administer our mercantile establishment to several large shopping promenades including Time Square in Causeway bay, Harbor City in Tsim Sha Tsui, Festival Walk in Kowloon Tong and Pacific Place in Admiralty. A Those are popular shopping promenades in Hong Kong and favourable among visitants and local people, particularly for the single visitants from mainland. Due to the high denseness of population our gross revenues can be boosted.
Harbor City Festival Walk
Time Square Pacific Place