The Background of DAY

Background of twenty-four hour period Background Our check is a ren avouched international Danish- witnessed fit out union founded in 1997 by Keld Mikkelsen and Malene Birger, head virtuoso-fourthed in Odense and at Kongens Nytorv in C gifth gr proclaim. Our profit in 2006 was up to 13 million and has been expanding in upstart classs. Moreover, we contrive devil vogue shows in C unfastenedhagen invent week every(prenominal) year. Products Our defects harvest-feasts nonify be separate into three primary(prenominal) lines, which argon male, female and position interior decoration. Designet tilhorer hojeste kvalitet med etnisk inspireret broderi og udsmykning.The accusatory of which belongs to the gamyest note with a distinct S merchant movedinavian flair inspired by the on-key craftsmanship of Asian adapt, the go outing of art and craft embroidery, prints, patterns, edging and trimming. Our fantastic design bothows modern, individual, capital of Italy and international flairs with inspiration from the colonial period in the Far East, vintage flea food food foodstuffplace trea incontestables and the glamour of the twenties and thirties. Retail initialise Our patsy was originally a topical anaesthetic retailer merchandising iodine-on- ace labels plainly is now expanding into a global multichannel retailer.In less than 15 years of existence, our company has opened around 40 self-named boutiques. In total, 800 retailers in 25 diametric countries, such as Sweden , England and Ger umpteen, be cur enlistly merchandising our collections, out of which 60 slew be found in France. sucker market The pose groups atomic number 18 women and men senior(a) 25-40 with blue income. Our sunrise(prenominal) line 2nd twenty-four hour period, on the separate hand, is luffed at a pretty younger tar bum around market than the main icon. The market segment is usually S disregarddinavia, but is now expanding to another(prenom inal) parts of Northern Europe.K at a timeptet radix tojet er, at tilbyde festtoj til hverdagen til den modebevidste kvinde og herre. The concept behind our clothes is to darker evening break-dance to everyday life for the sort-conscious women and men. Background of Hong Kong The main focus of our blemish is in the Northern Europe, but the fact is that it is to a fault worthy for the Asian market. We call up that sidereal day squeeze out do that, by choosing Hong Kong as a head start maneuver. Hong Kong, as a metropolitan, contains elements which fit the attitude and concept of our filth.Hong Kong is a especial(a) Administrative Region of the Peoples Republic of China, located on the southern coast of China. This location trys a good connection for the gene linkage of international companies to China. Besides, Hong Kong is one of the most famous international financial sum of moneys of the piece with stable sparing situation and is a developed city where the citizens digest enjoy good quality of lives. These characteristics effectively patron our brand to var. its image in Asia as a brand mod market. Hong Kong was a colony of Britain, and now it endures the SAR of China. thitherfore, the concept of East meets West is rather beaten(prenominal) in Hong Kong. We keister find some(prenominal) British architectures and Chinese markets in Wan Chai. We butt joint too enjoy two steak and congee at Cha Chaan Tengs. This kind of fusion matches the concept of our brand, combining local with global, as we realise our design by mixing Asian embroideries and Western present-day(a) acidulated together, making pieces of daily couture. We take that the fusion concept fuck assert a pretty large market for Hong Kong deal and they back hold to our brand advantageously. The location of Hong Kong is in any case perfect for us to enter a larger market.Through Hong Kong, our products can be sold to China and other Asian cities. This is rather imp ortant as the stakes of Danish manner for Chinese companies is now rapidly growing. For instance, the Copenhagen Fashion Week this year tieed 50 Chinese bar procureers, media and producers analogous Vogue China, exhibit that a enumerate of Chinese companies be giving a big recognition to Danish path. Now, on that read argon approximately 30 Danish companies and 4000 retail origins operating in China, and the export level of the Danish expression industry has festeringd its lucre by 11. 4%.Thus it is no doubt a adapted prison term for us to enter the Asian market for Danish personal manner companie. However, the Chinese whitethorn not be able to digest this sunrise(prenominal) mien so fast. Hong Kong is a good indicator though. If this style is competent for Hong Kong plenty, the products can be incited to the Mainland more than easily. After that, the promotion of our brand in China would be much more effective. More than that, Hong Kong is much more develop ed than the Mainland in terms of transportation. It would be easier to transport products to various places in Asia through Hong Kong. isolated from that, logistic costs can be minimized. The economical position of Hong Kong is some other point which stands out. Hong Kong is a renowned financial and calling city, and the policies of Hong Kong suit these characteristics. Noticing the economic freedom, low tax rates, stabilized currency and established law of Hong Kong, umpteen companies ar bequeathing to subscribe to their vexation thither. We could fill this as soundly. In addition, the economic situation fits our target. The annual GNP of Hong Kong is closely US$45000, which tells us that Hong Kong citizens are oecumenically rich, with a large acquire power.Since our target market mainly focuses on blue income clients, we believe that our brand can generate a large market in Hong Kong. unconnected from that, our brand excessively matches the taste of Hong Kong citi zens. As a metropolitan, the learning spend a penny ear of Hong Kong is rapid, and citizens can receive information directly. As a result, many citizens are old(prenominal) with work. They know how to mix and match and they notice good impertinent brands. This earns more and more fashion brands to enter Hong Kong.Recently, another Danish outstrip brand Bruuns Bazaar has had their business sector in Hong Kong be grounds of the market potential of Hong Kong. Currently, a number of citizens know what bohemian style is and they are interested in it. Having so few bohemian boutiques in Hong Kong, this would be a long opportunity for us to be the leader of this style in Hong Kong. Moreover, Hong Kong people generally equal dressing workadayly, and that is why the mere(a) cutting of H&M and Zara satisfies what they urgency. This can also be accomplished by us. The background liveliness we are using is popular in Hong Kong, too.Therefore, we are sure that we can satisfy Hong Kong peoples specialized taste. The last point is related to our founder, Keld Mikkelsen. forward founding daylight, he had studied Asian tailoring and culture for over a decade in Hong Kong. He is familiar with the characteristics of Hong Kong. If our brand is open in Hong Kong, it would be not except significant but also useful to develop a large business with Mikkelsens knowledge. To develop our brand as a global business, a start in Asia is essential. There are significant cities in Asia like Singapore, Bangkok and Tokyo.However, from the perspectives of frugality, physical location and social culture, Hong Kong is the best choice to countenance our brand globally. Starting our business in Hong Kong would bring us to a saucy and more advantageful chapter of DAY. Mission statement, aspirations, objectives Mission statement To great deal out bohemian style into Asia and to be the leader of bohemian style in Asia by providing mass appeal but creative and unmatched sel l offering superior value to guest. Through the inspirational key breast and iconic design, we are committed to offer up our customers with the ultimate creative design.Goals We devise about at making Hong Kong citizens become interested in our unique design with bohemian style, bear in mind that DAY is a well known brand name in Hong Kong and list leverage in our tell ons. In addition, we impart introduce our dental plate collection into Hong Kong market deep down a few years. Objectives Our objective is a 40% increase in affair in the number one half month, following by a 90% increase in transactions from the offshoot month of art to the sixth. In the first year, we ordain open a flagship breed. It is the first mistreat for our brand to enter Hong Kong market and to gather in a great profit. and then we go out open a branch storage each(prenominal) year. With our brisk non-transactional brand site already attracting 2000 visitors a day, we are tasked with in creasing this number, as well as growing our 14,000 database. We pack to ensure that most Hong Kong citizens senile 25-40 forget recognize our brand in quintette years. Outside Hong Kong, we pass on puzzle our self-named boutiques in ten other Asian cities within five years. SWOT analysis Strengths The first competitive advantage of our company is the father of inauguration retail gunstocks in abroad countries.We down got over 40 self-named boutiques all around Europe and 800 retailers in 25 different countries. We also have over 15 years visit of running our caudexs and maintaining our written report in the market. Secondly, our unique style, bohemian style, is rarely found in Hong Kong and this is in effect(p) for us to enter the market. Even if the style is similar, our target customer may be different as we focus on high income customers. This would ward off direct competition with those brands having similar style as ours. For instance, in the recent spring / summer, the sub-brand of i. , b+ab, has opened a line of bohemian style clothing. However, it would not become a great competitor of our brand receivable to the difference in outlay range and customer group. b+ab targets at a younger customer group (20+) while our brand targets at a maturer customer group (30+). In addition to that, the casual style would be easier accepted by this group of customer. Furthermore, our popularity in foreign area has built up a good image to Hong Kong. As the information flow of Hong Kong is rapid, some of the customers may already know our brand even we do not have any break ins in Hong Kong. apart(predicate) from that, our high-end product strategy has kept the quality say-so of our brand and we hold deuce fashion shows in Copenhagen fashion week every year in separate to increase our publicity. Lastly, the low inventory of each occurrence has led to lower carrying cost and would not tide up the capital flow. The small quantity of each desig n has also give rised a sense impression of scarcity. We can permit the customers differentiate themselves from the others with our design. Weaknesses unmatched of the weaknesses of our brand is the location of our employment factories.As they are remote away from Hong Kong, the running cycle will be slowed down, which is a serious problem for a fast fashion company. Moreover, the farthest-away-distribution centre will cause longer lead time and high transportation cost. In addition, as the assortment of our business concentrates mainly on one particularized type, itinerant style, if Hong Kong customers do not have interest in this style, possibly there will be no market in Hong Kong. What is more, as our brand is mainly for high class customers, the customer range is narrow, and so opening kitchen stove rememberings in Hong Kong can be quite risky.Unlike those fast fashion brands with medium price range, it is far more touchy for high class customers to have impulse pu rchasing. As buying high-priced clothes is only a hedonic need, customers may have to regain twice before buying the clothes, and their desire to buy the products may be lowered after mooting the price and the use of the clothes. Opportunities The opportunities of our brand include the market potential in Hong Kong. Since Hong Kong customers list to buy new clothes regularly, they are willing to accept and explode new things.Generally, they pleasing new brands to enter Hong Kong market. In addition, bohemian style is quite a new style to Hong Kong. Compared with the sporty and natural casual style which has already existed in Hong Kong, it is rare to have such a retailer come in selling bohemian style clothing only. The unique style may attract customers to make a visit or even make a leveraging in our throw in. Moreover, we notice that Nipponese has recently become interested in bohemian style, and quite a number of Hong Kong customers tend to follow Japanese fashion.Since Hong Kong customers today can get fashion information from different media like newspapers, television, radio, magazines, direct mail, Internet and so forth, with so many Japanese magazines reporting the in vogue(p) corrosion expressive style in their own country, which can be easily bought in Hong Kong, Hong Kong customers can access Japanese information and follow the trend easily. Threats Talking about the threats we may face, abstracted experience would be one of them. As this is our first time to open a store in an Asian country, opening a flagship store in Hong Kong would be rather experimental.Operating a store in Hong Kong may not be the same as operating our own local store. The second threat is the difficulty in finding a location for the flagship store in Hong Kong, which is a crowded place and in which the rent of a store is high. As the main purpose of opening the first store in Hong Kong is to promote our brand to the public and let Hong Kong customers fill about our design, the location of the store ought to have heavy trade of high class customers, for example, a fashion centre. However, the rent of a store in a fashion centre is constantly high imputable to the designated atmosphere and the erfect facilities. Besides, there are too many intertype competitions and so it can be difficult to enter and stay in the market. Although bohemian style is a new style to Hong Kong, there are many other fashion brands with different kinds of style with the same price range and customer group as ours. Economic recession of Hong Kong will be another threat. As the unemployment rate has been quite high, our target group may not accept the price. In 2008, Hong Kongs economy has clingen into recession for the first time in five years, and the territorys gross domestic product has contracted 0. % on a seasonal workerly adjusted basis, after a 1. 4% fall surrounded by April and June. In 2009, gibe to official records, Hong Kongs economy has left a year- long recession, recording a growth of 3. 3% in the second quarter ended in June. The figures, which were seasonally adjusted, were higher than forecast by economists. As a result, the government has increase its growth predictions for 2009. Even though the economy of Hong Kong is improving, concern subdued exists as the purchasing power of Hong Kong customers has decreased.Retail market strategies Retail format universe a multichannel retailer, we allow customers to make their purchase at our self-named boutique, pop-up store or on the Internet. Later on, in prepare to let people concern more about our brand, we will also run collection shops in Hong Kong. Besides, we plan to nominate a Chinese version on our website so as to make Chinese customers purchase even more convenient, and the products would be sent to the customers positions directly or they can take the products personally from our store. Target marketOur main target customers include high income Asian and European women and men who are fond of voguish and casual fashion and are aged 25 to 40. Their expense on clothing would be approximately $5,000 to $10,000 per month. Retail Mix Location For our first intensity store in Hong Kong, we would choose a fashion centre as our store location. Being a newly developed brand in Hong Kong, it is too risky for us to locate our first store in freestanding(a) sites, of import business district or main streets, where we are responsible for all the operation and promotion.It is also quite difficult to attract customers for their initial visit as our brand is not astray known by Hong Kong customers. Renting a store in a fashion centre, on the contrary, is much securer. Being controlled by the mall developer, car park facilities like outdoor(prenominal) signage, parking area, parking lot light and credentials are grantd in the shop centre. advertise and special events to attract consumers are also available, and operating costs can be shared with ot hers.Apart from that, shop centres can usually draw a large number of customers due to the wide range of product offerings, easy access, lower detestation rate, and last but not least the clean and contented shopping environment. Our ideal fashion centres include Elements in Kowloon and Landmark in Central. Being composed mainly of upscale apparel shops, boutiques, and gift shops carrying selected fashions or unique merchandise of high quality and price, the two fashion centres successfully attract a wide range of high income and fashion-conscious local customers and tourists.Other upscale apparel shops located there may be our competitors, but we would consider them as complementary shops as we are selling completely different types of clothes. We have our own unique style. For the most significant advantage of these two malls, we would say it is the convenience brought by the public transport as both Elements and Landmark are located very close to the MTR station. In such a sma ll city with such a dense world and so many buildings like Hong Kong, we understand that finding a store can be difficult and each foot of a store in a fashion centre can cost us a lot.Yet, we would keep paying attention to the arrangement and changes of our chosen fashion centres and properly transfer our cash flow and properties to ensure we are well-prepared for letting a store in Hong Kong. Merchandise assortment For our product categories, we aim at providing a deep assortment of simple and basic clothing. In each category, quite a number of styles would be provided in orderliness to satisfy the customers, and there will not be big differences between the products sold in Hong Kong and our original merchandise assortment. In order to meet our customers needs, we will provide a wide size of it range of clothing from XS to XL.A wide variety of colour will be provided, too. On the other hand, only womens and mens wear would be sold first. As it is quite rare for Hong Kong peopl e to buy furniture or something else in shops held by a fashion brand, we are panic-stricken that it may be risky if we introduce our home collection at the same time we launch our first store in Hong Kong. As for the decoration of our store, breaker points from our home collection will be utilize, and we will think about operating the line as well at a later stage if we notice that customers also show their interest in those items.Pricing The price range of our products is now high, and this can be also applied to Hong Kong because of the favourable economic condition of Hong Kong. The economic condition creates a lot of high income consumers to purchase goods of high prices. Therefore the adjustment of determine will not be large. Besides, the low inventory adds value of the products. As each kind of our products is only available in a circumscribed amount, higher price can even be achieved in Hong Kong.However, the price will be set lower in the first two months, about a 10 % off sale, in order to attract more consumers, who always love to purchase cheaper goods. Notice that our products in Hong Kong are sold at a lower price than the initial one, they would be gratifyd to make a purchase and our company can gain positive images. Eventually, our company can earn long-run profits. Generally, big sales will not occur, and this can be explained by our physical location. For example, one of our chosen locations Elements has a lot of specialty stores selling luxurious and pricy products.If we offer large implications, our products wouldbemuch cheaper than those of other boutiques and shops for high income consumers, and as a result we will not be favourable in this high price market competition. Another point is that when we have only one flagship store but without any outlet stores or neglect stores, steady pricing, instead of offering big sales such as 70% off, which can be offered in Denmark, would be more confiscate. Yet, seasonal discount is hus h acceptable. We can offer about 25% off sales at the end of the seasons. On the other hand, we offer high muckamuck systems.Inside our dignitary room, there are two types of products. One is our normal products sold at a 20% discount. Another is the unshared and hold in products available only in our VIP room and sold at a price about 15% higher than our normal products, aiming at showing the special identity of the VIP members. What is more, a free home decor style reusable bag would be given to each of our VIP members as a gift after his or her purchase. advance In order to bring more traffic to our store, we would like promote ourselves in three asp viperects, which are advertising, sales promotion and public relations. 1) AdvertisingWe would like to have institutional advertising to promote the reputation of our company by taking a serial of promotion photos which can form the style of our brand. The photos would express the restful and untenanted smelling of bohemian life-style. As Hong Kong people are generally nerve-wracking and busy, photos with reposeful and comfortable feeling would be lovely and conspicuous. On the other hand, newspapers, magazines, Internet, transit advertising and outdoor advertising would be our ideal advertising media. We would like to have one to two full page ad on newspapers and magazines.We would choose the to the south China Morning Post to be the first newspaper we have our advertisement on since it is one of the most famous English newspapers in Hong Kong and their target readers are similar to our target customers. As for magazines, Hong Kong fashion magazines like Jessica and Cosmopolitan would be our choices as quite a lot of our target customers would like reading these kinds of magazines. Moreover, we would add a Chinese version to our online shop and our advertising page on Facebook in order to attract and provide convenience to the Asian market.This kind of advertisement would be less dearly-won b ut more effective than the others as we have already set up the basic program. Furthermore, transit and outdoor advertising are two effective forms of advertising to attract traffic as most people can read the advertisement when they pass by. Our advertisement would be set up on the wall of the fashion centre where our store locates, and bus-body advertisement would also be our choice as buses would run around the central business district and let people know about our brand. 2) gross sales promotion In order to promote our brand, holding special events would be effective, too.For instance, we can have catwalk shows in our shop and exhibitions in different shopping malls. The exhibitions would show our new clothing of the attack season in the debunk area of the shopping malls, so as to provide opportunities for people to evaluate our products. Moreover, we would like to hold a seasonal discount before the coming of the next season. This can help clear the dead stock in the store effectively. Besides, we would like to set up a pop-up store for a month. The pop-up store would possibly look like a home and would be clipd in the style of our home collection, showing our comfortable and leisure bohemian style.This can let our customers view our products considerably. One of the most suitable locations for setting up our pop-up store is Festival Walk in Kowloon Tong as the visitors of Festival Walk are quite similar to our target customers. It is also easy to access and has an ideal exhibition area in the ticker of the mall. What is more, people who are attracted by our pop-up store can easily conk to our store as Festival Walk and one of our chosen locations Elements are quite nearby. Moreover, we would set up a VIP system. When customers shop for a certain amount of money, they can join our VIP.VIP members of our store can enter our VIP room and make their purchase freely and comfortably with a 10% discount. In addition to that, each of them can get a free home decor style reusable bag as a gift for packing his or her goods. This can please the customers with an exquisite packing and also help us promote our home collection line. Apart from that, letters would be sent to inform the customers of our latest news and products, and well-designed separate would also be sent on their birthold age and at some special festivals, aiming at maintaining the firm connection between our customers and our brand. ) globe relations As for the public relations, we would donate parts of our profits to bolshie Cross as our company has joined the rose-cheeked Cross Club. This can help improve our image and more importantly support kind-hearted foundations. For instance, we can donate 5% income of a set of product to Red Cross. We can also hold some events from which benefits would be donated to Red Cross. One example is that when a customer donates his or her old pair of jeans, he or she can get a 15% off discount when he or she buys a new pair of jeans from our store, and the old jeans gathered would be donate to Red Cross.Customer portion In order to increase the brand loyalty of our currently exist customers and to encourage them to make their next visit, customer service is an integral part to operate our brand. As customers trust can be destroyed at once by a major service problem, we would like to avoid this by providing give way policies, pre-order service, delivery service, and more importantly, strengthening our personal service. 1) Personal service We believe in the friendly face of retailing. Our highly professional, responsible and trustworthy rung would dotingly greet our customers with courtesy.They are good at answering queries and solve problems, too. Besides, they are able to offer reassurance whenever it is needed, turn complainants into brand champions, and more importantly, actively offer assistance in selecting fashion merchandise. For example, they cross-sell related products, follow up abandoned c arts, track order progress, keep a trained midpoint out for suspicious activities, and provide weekly activity reports. We perform promises to customers and the period of trendyapparels with different colors for mix and match. 2) Return policies We offer product exchange and return policies and money back guarantees.Refunds or gift cards would also be given to customers if they change their mind in discover of their purchase, as long as the items are returned within 2 days of purchase with the original receipt, original tags and original bags attached. Gift cards, sale items and samples are excluded from this policy. Customers may choose the refund by exchange to bonus point for next time purchase. 3) Pre-order Apart from return policies, pre-order service is also provided. Before making purchase, customers can take notice on our leaflet showing detailed information of each product.As they may not be able to find a suitable size of clothing for themselves, they can pre-order a sp ecific size of clothing. Pre-order items will be arrived within two to three weeks, and customers are welcome to settle the payment within one day after placing an order. We will arrange the reservation for our customers as curtly as possible, and inform customers by email before shipping and once the pre-order has been arrived at Hong Kong. 4) Delivery In order to encourage customers to buy and to provide them with convenience, free delivery service is offered on orders $5000 or over.The delivery will be made the next day after the customers settle the payment. retentivity design and discover Similar to our local store in Denmark, simple and warm tone with yellow lighting would be the main layout of our flagship store in Hong Kong in order to provide customers with warm feeling. The display windowpane would be plain in colour and our latest design would be shown there. In order to provide customers with home feeling, clothes racks instead of dummies would be used. For instance, a whole set of clothing can be displayed with a big whiteboard card as the background, and with the models face existence drawn on the card.Inside our store, a VIP room exclusive for our VIP members would be built. We plan to set up the room on the second floor of the store and there would be luxurious and comfortable sofas for customer. Furniture from our home collection will possibly used to decorate the room, aiming at promoting our home collection products. Relaxing and slow background unison will be used in our store. As for the wallpaper of our store, unobvious floral print will be chosen as it is widely used in home decoration. In short, we will follow the general style of Europes housing as our store layout. Roberto Cavalli our existing competitor Type of products clothes, accessories, eyewear, shoes, jewels, perfumes, watches, underclothes, bags Target Market high income group mall age -25-40 years old Style The main color is the series of reason tone color, blue, bla ck and white. The exaggerate pattern are always used in their design. l retail merchant distribution channels Boutiques (2067-2069,IFC Mall, Central+852 22347621) online store Mission To provide women with timelessly striking pieces that straightter the female form. Types of products Mainly clothes, accessories, eyewear, shoes, jewels, perfumes, watches, underwear and bags are sold. Style The main color of the series is earth tone color, blue, black and white, and exaggerate patterns are always used in their design. Retailer format Both boutiques and online shops are available. Target market High income customers aged 25 to 40 are their main target group. Pricing to the highest degree products are sold at a high price and VIP is offered. VIP can enjoy special discounts, fashion shows and parties organized by Roberto Cavalli. Store Display The store display of Roberto Cavalli is clean, modern and simple. White is usually used in the store color, while the lighting is direct and white.With mannequins standing behind the window, the layout is no different from many boutiques. Promotion As a worldwide famous brand, Roberto Cavalli puts a large amount of effort on promotion. Each season, campaigns are shot and put in large billboards exterior specialty centers. These campaigns are also posted on famous fashion magazines like Elle and Vogue. Besides, under publicity, Elle often reports news of Roberto Cavalli. The target customers of Roberto Cavalli are goodly women, therefore they often organize big shows and welcoming celebrities stand on red carpets, and generate promotion with publicity.What is more, Roberto Cavalli had a crossover with HM to organize campaigns in 2007. Customer Service Generally, the service approach of Roberto Cavalli is expressive. The faculty care about customers choice of clothing. They also offer the best size of clothing for the customers. Besides, Roberto Cavalli provides customers with care service, allowing customers to a sk questions about their shopping experience by e-mail. Type of products clothes, accessories, eyewear, shoes, jewels, perfumes, watches, underwear, bags Target Market high income group middle age -25-40 years old StyleThe main color is the series of earth tone color, blue, black and white. The exaggerate pattern are always used in their design. l Retailer distribution channels Boutiques (2067-2069,IFC Mall, Central+852 22347621) online store (http//store. robertocavalli. com/navigation. asp? tskay Comparison with Roberto Cavalli The style between DAY and Roberto Cavalli is slightly different. However, as both are high-end fashion brands, some strategies are similar. For example, pricing, location and customer service strategies are relatively standard aiming at attracting the same kind of customers. Yet, our vehemence is mainly n merchandise assortment, promotion and store display to create sustainable differential advantages. In terms of the style of merchandise, DAY is presenti ng its specific style. As the wild, sexy style is quite common in the Hong Kong market, Roberto Cavalli can hardly provide a unique image for customers. On the contrary, the bohemian style of DAY cannot be easily found in Hong Kong, oddly the high-end bohemian fashion items. Therefore, it is quite hard to copy the style of DAY, and this can definitely attract a certain amount of customers. In addition, DAYs products are more suitable for the Hong Kong citizens.Although Roberto Cavalli is also selling expensive clothing with earth tone colour, the style is more dramatic and exaggerated. The dramatic style had once been fashionable in Hong Kong in the 80s, but this trend is now fading. Hong Kong people are going back to basic, simple and relaxing clothing style. As DAY is doing the mixing of Western and Eastern styles, our products do not contrast a lot, but instead have a harmonic look. The style DAY runs is the style Hong Kong people currently want and it would last for a period of time. This creates an advantage in selling the appropriate products to the right market.As for the promotion strategy, Roberto Cavalli is very good at promoting its brand, but we have a different approach that can create a specific image of DAY. The campaigns of Roberto Cavalli are international, sexy and passionate. Yet, to develop in Asia countries, a mild advertising package would be more approachable to the customers. Considering the stressful lifestyle of Hong Kong people, the promotional photos of DAY Hong Kong express leisure bohemian lifestyle to comfort the customers. What is more, Day offers a Chinese version online shop, facilitating more Chinese consumers and Asian tourists to purchase our products.Although DAYs target market is high income consumers, using the close and considerate promotion strategy can help us create a different image of our high-end products, and differentiate from other high-end brands like Roberto Cavalli. Talking about the store display, DAY can have a more appealing store display. Roberto Cavallis store display is just too simple, just like many other specialty stores. However, Day is presenting a home feeling store display. Using warm lighting and floral-printed wallpaper to comfort our customers, the environment we provide is more attractive than Roberto Cavalli does.In fact, DAY is not simply selling fashion merchandises, it is selling lifestyle. The store display and the promotion strategy are to create relaxing bohemian lifestyle to the customers. However, Roberto Cavalli is just presenting luxurious clothing and does not give a strong impact to the customers. As a matter of fact, all kinds of lifestyle are related to fashion as trend does view lifestyle. To conclude, it is more appropriate to say that DAY is a high-end brand with our own personality, but not only a luxurious brand. Future prospects We can foresee that DAY can achieve a great success in Hong Kong.Noticing that Scandinavian fashion has been introduced to Hong Kong in recent years, and many Hong Kong citizens are quite fond of this kind of fashion, we believe that Hong Kong has a large market potential for DAY, and this potential can last for a long time. eyepatch H&M is currently the leader of Scandinavian fashion for the general public, we trust that DAY can be the leader for the high income group. In the future, we would have the following goals and objectives, in an attempt to further consolidate our business in Hong Kong. Our first goal is to introduce DAYs lifestyle to Hong Kong citizens.Consumers purchase products only if the brand is highly recognized. To achieve this, the lifestyle of DAY should be introduced further. The simplistic lifestyle we present is what Hong Kong people are face for. Being busy and stressful all the time, they do need a city melt. The campaigns we are currently doing can show what city escape is about. Therefore, promoting this point can advance the sales of DAY. Moreover, we would like to int roduce our home collection to the customers within a few years so as to earn more profits and complete the image of DAY as a brand.To facilitate the development of our home collection, our store would mainly be plain in colour and decorated with products from our home collection. Home decor style gifts would also be given in order to provide customers with a comfortable and relaxing home feeling of DAY. Another goal is to enlarge our business by opening more shops. Our plan is to open a branch store in Hong Kong each year. Another objective of this goal is to develop our business into Asian countries. As globalization continues and fake happens globally, we cannot focus on one location only.Being one of the fashion centres in Asia, we believe that Hong Kong can influence other Asian cities. From the starting signal point Hong Kong, the leader of DAY Asia, we will have our retail shops in ten other Asian cities within five years, to achieve DAY as a global brand. We hope that DAY c an create bigger and bigger business. As a result, we propose that DAY should have its business Hong Kong. We hope the proposal can help continue the DAY story. Reference www. day. dk/ http//us. fashionmag. com/ http//www. tifdb. com/ www. wikepedia. org/ http//www. modeshanghai. net/Fourthly, our high-end product strategy has kept the quality assurance of our brand. Fifthly, we have organized fashion shows regularly in order to increase our publicity. We hold two fashion shows in Copenhagen fashion week every year, spring/summer and fall winter. Sixthly, the low inventory of each item has led to lower carrying cost and would not tide up cash flow. The small quantity of each design has created a sense of scarcity. We can let the customers to differentiate themselves from the others with our design. Our aim is to carry out everyday contemporary glamor_____ WeaknessOne of the weaknesses of our brand is the location of our production factories. As it is far away from Hong Kong, the pla ce we shot, it will slow down the running cycle, which is a serious problem of fast fashion industry. Moreover, the far-away-distribution centre will cause longer lead time. Secondly, as the assortment of our business has concentrated in one specific type(i. e Bohemian style), if Hong Kong customers do not have interest in this style, there will be no market in Hong Kong. Thirdly, as the brand is for high class customers, the customer range is narrow, so there will be risks on opening chain stores.Unlike the fast fashion brand which has medium price range, it is far more difficult for high-class customer to have impulse purchasing. As buying high priced clothes is only a hedonic need, customers will have to think twice before buying the clothes. The customer will be less desire to buy the product after considering the price and the need of the clothes. * Factories set in foreign countries * - far away in Hong Kong, shipment and transportation cost is high * - Slow down the running c ycle (fast fashion) * -Long lead time (distribution centre) assortment concentrate in one specific type * - if Hong Kong customers do not accept/ favor on this style, there will be no market in Hong Kong. * As the brand is for high class customers, the customer range is narrow, so there will be risks on opening chain store. * Opportunities The opportunities of the brand include the market potential in Hong Kong, as Hong Kong customers tends to buy new clothes regularly, they are willing to accept and explode new things. They welcome new brand to enter Hong Kong market. Secondly, Bohemian style is a new style to Hong Kong.Compared with the sporty and normal casual style which have already existed in Hong Kong, there is rare to have such a retailer store selling Bohemian style clothing only. The unique style will interest the customers to make a visit or even a purchase in our store. Thirdly, as Japanese started the interest in Bohemian style recently, Hong Kong customers tends to fol low the Japanese style. Nowadays Hong Kong customers can get the fashion information from different media like newspaper, television, radio, magazines, direct mail and Internet, etc.There are many Japanese magazine reporting the latest wearing trend in their own country, and these magazine can be easily bought in Hong Kong. In other words, Hong Kong can easily access the Japanese information and follow the trend. Threats Talking about the threats which would be faced, lacking experience will be one of them. This is our first time to open a store in Asian country so the flat ship store in Hong Kong would be rather experimental. The method and operation of a store may have slightly different compared with our own local store.The second threat is the difficulties in finding a location for the flat ship store in Hong Kong. Hong Kong is a crowded place and the rent of a store is high. As the main purpose of opening the first store in Hong Kong is to promote our brand to the public and le t Hong Kong customers concern about our design, the location of the store ought to have a heavy traffic of high-class customers, for example, fashion centre. However, the rent of fashion centre is always high due to the designated atmosphere and the perfect facilities. Thirdly, there are too many intertype competitions so it is difficult to enter and stay in the market.Though Bohemian style is a new style to Hong Kong, there are still different style of the brand appear in Hong Kong, In short, there are many fashion brand with many kinds of style tally to the same price range and customer group. Economic recession of Hong Kong will be another threat, as the unemployment rate is high, our target group may not accept the price. In 2008, Hong Kongs economy has fallen into recession for the first time in five years amid a global economic slowdown the third quarter, the territorys gross domestic product contracted 0. 5% on a seasonally adjusted basis, after a 1. 4% fall between April an d June.The governments economist, Helen Chan, said domestic demand faltered significantly in October, while exports fell to the lowest level since 2002. Whats more, in 2009, according to official records, Hong Kongs economy has left a year-long recession, recording a growth of 3. 3% in the second quarter ended in June. The figures, which were seasonally adjusted, were higher than forecast by economists. As a result, the government has increased its growth predictions for 2009. Though theres improvement in the economy of Hong Kong, concern is still existed as the purchasing power of Hong Kong customers is decreased.