Limited Liability Corporation, is a clothing and apparel business. The company sells trendy clothing and apparel, such as casual and active wear, head gear, work-out gear, leather coats, and baseball jackets to an international market consisting of individuals of all ages, from all walks of life. After purchasing ? 500 in clothing (e. g. , tee shirts and sweat shirts), the owner has the apparel designed and silk-screened and then negotiated with two clothing stores to carry the clothing.
The underlying foundation of ReHabiliments, and its clothing line is based upon the principle of harmony – harmony of thought, harmony of purpose, and harmony in humility. When people are of one mind, they are supported in their purpose and are accepted despite their weaknesses. By purchasing “ReHabiliments,” consumers make a conscientious decision to become an integral member of a community dedicated to the greater good of humanity. Based upon conservative market growth projections, once start-up funding is secured, the company expects to generate very healthy sales revenues in Fiscal Years.
Study Material Essay Example
The company sells trendy clothing and apparel, such as casual and active wear, head gear, work-out gear, leather coats, and baseball jackets to an international market consisting of individuals of all ages, from all walks of life. ReHabiliments markets its product line as, “ReHab Your Wardrobe-ReHab Your World,” and commits itself to programs that transform the lives of the less fortunate. The company’s first responsibility is to the men, women, and children who use its products.
As a customer oriented business, ReHabiliments recognizes that customer satisfaction is the key to success and strives to deliver the highest quality customer service and superior products. ReHabiliments supports the success of its employees, community, and investors, and will conduct its operations prudently to ensure adequate financing and resources necessary to achieve business objectives for future growth. The company promotes a spirit of sharing and caring, where people eagerly contribute their time, knowledge, and experience towards a successful community.
As a socially esponsible company, ReHabiliments contributes to the world’s obligation for the protection of the environment, contributes to the economic strength of society, and functions as a good corporate citizen on a local, regional, national, and global basis. 1. 2 Objectives ReHabiliments’ management recognizes that the company must establish concrete goals that assist management in determining whether or not the company is achieving corporate objectives. ReHabiliments’ chance of implementing those goals depends upon management’s ability to track progress toward goals and to measure results in conjunction with those goals.
To ensure implementation of the company’s goals, management has established the following corporate objectives: * Securing start-up funding and subsequent funding through a combination of investment and debt strategies. * Establishing marketing and sales initiatives to expand the company’s clothing line and capture 10% of the branded urban apparel industry.
Women are said to spend 88 minutes today (2003) compared with 95 minutes in 2000. The number of times to shop for clothing per month is holding steady at approximately 1. 7 times per month. * In response to increased competition from new market participants, retailers are exercising a variety of strategies, including downsizing and restructuring, changing their merchandise mix, adding services, and adapting the quick response system for controlling inventory management costs. * The Internet has become another tremendous advantage to the industry.
With the Internet, consumers can get updated and almost instantaneous information. The great e-commerce websites of many retailers are helping to ensure global business. Internet sales are guiding retailers into just the right international and domestic cities in which to build stores, and allowing apparel companies to make their brands known internationally even before they have any physical presence in the international market. Apparel Selection, Fashion, Personal Appearance, and Image * Comfort continues to be a very important element when purchasing clothing.
Many consumers elect to wear casual apparel because it feels more comfortable. In a 2002 survey, 51% of the respondents said they choose comfort over “better looking” clothing items for a night out on the town. In 1994, 59% opted for the “better looking” clothing items. * Women have a great deal of “casual” clothing in their wardrobes. According to Cotton, Inc. ‘s Lifestyle Monitor, 56% say they own more casual clothing than work clothing, while 35% say the reverse. * Accessories have gained fashion status during the past couple of years.
Consumers unwilling to purchase big-ticket items to update their wardrobes have seen and used accessories as an inexpensive way to achieve a new, updated appearance. * Sixty percent of American women are full-figured (size 14 and above). Expenditures on apparel by plus-sized consumers grew 8% from 1998 to 2001, while those by regular-sized women grew 3%. * Many manufacturers and retail stores are leveraging their products by licensing their brands for accessories such as sunglasses, watches, fragrances, wallets, and footwear.
This strategy is increasing exposure for well-known brands and building consumer confidence in a specific brand. * The challenge for many apparel retailers continues to be anticipating the coming trends and deciding how those trends will or won’t fit into the company’s image. Companies in the apparel industry are becoming more tuned in to what their customers want and giving them what they want.