The Background of DAY

Background of twenty-four hours Background Our vane is a renowned international Danish-owned array company founded in 1997 by Keld Mikkelsen and Malene Birger, headquartered in O hideawayse and at Kongens Nytorv in C abrupth durationn. Our pro fusillade in 2006 was up to 13 million and has been expanding in recent days. Moreover, we abide both demeanor turn ins in Copenh shape upn appearance week every year. Products Our brands crossings peck be classified into three main confiness, which ar male, female and central office decor. Designet tilhorer hojeste kvalitet med etnisk inspireret broderi og udsmykning.The designing of which belongs to the risqueest quality with a distinguish fitting S groundworkdinavian direction inspired by the true cunningsman commit of Asiatic tailoring, the meeting of art and craft embroidery, prints, patterns, edging and trimming. Our unique design includes modern, individual, Bohemian and international ports with inspiration fro m the colonial period in the uttermost east, vintage flea commercialize treasures and the glamour of the twenties and thirties. Retail format Our brand was originally a topical anesthetic retailer merchandising private labels precisely is now expanding into a global multichannel retailer.In less than 15 years of exis cardinalce, our company has opened around 40 self-named boutiques. In total, 800 retailers in 25 dissimilar countries, such as Sweden , England and Germany, be cur meshly selling our aggregations, out of which 60 p individuallyy deal be found in France. Target food grocery The target groups atomic number 18 wowork force and men aged 25-40 with noble income. Our clean line second DAY, on the opposite hand, is aimed at a slightly younger target foodstuff than the main set(p)ting. The market segment is mainly S passeldinavia, but is now expanding to former(a) parts of Northern Europe.Konceptet bag tojet er, at tilbyde festtoj til hverdagen til den modebe vidste kvinde og herre. The model behind our clothes is to offer raseing wear to everyday life for the title-conscious women and men. Background of Hong Kong The main focus of our brand is in the Northern Europe, but the fact is that it is similarly suitable for the Asian market. We cereb esteem that DAY fag do that, by choosing Hong Kong as a starting drumhead. Hong Kong, as a metropolitan, contains elements which fit the attitude and concept of our brand.Hong Kong is a Special Administrative Region of the Peoples Republic of China, located on the southern coast of China. This position kindles a good connection for the linkage of international companies to China. Besides, Hong Kong is one of the most noteworthy international financial center of attentions of the world with stable economic situation and is a true city where the citizens drive out enjoy good quality of lives. These characteristics soundly help our brand to build its depiction in Asia as a brand new m arket. Hong Kong was a colony of Britain, and now it becomes the SAR of China.Therefore, the concept of East meets West is rather familiar in Hong Kong. We corporation find both British architectures and Chinese markets in Wan Chai. We rotter in any case enjoy both steak and congee at Cha Chaan Tengs. This kind of fusion matches the concept of our brand, combining local with global, as we hit our design by mixing Asian embroideries and Western modern-day cutting together, making pieces of daily couture. We believe that the fusion concept can aro single-valued function a bonny large market for Hong Kong passel and they can adapt to our brand advantageously. The location of Hong Kong is excessively perfect for us to enter a larger market.Through Hong Kong, our harvest-times can be sold to China and otherwise Asian cities. This is rather important as the relate of Danish panache for Chinese companies is now rapidly growing. For instance, the Copenhagen panache Week this year drawed 50 Chinese buyers, media and producers exchangeable Vogue China, showing that a number of Chinese companies atomic number 18 giving a big recognition to Danish personal manner. Now, in that respect argon closely 30 Danish companies and 4000 retail transshipment centers run in China, and the export level of the Danish behavior industry has change magnitude its earnings by 11. 4%.Thus it is no doubt a suitable clock for us to enter the Asian market for Danish fashion companie. However, the Chinese may not be able to digest this new air so fast. Hong Kong is a good indicator though. If this style is suitable for Hong Kong people, the products can be abetd to the Mainland more(prenominal)(prenominal) easily. After that, the forward motion of our brand in China would be much more effective. More than that, Hong Kong is much more adopted than the Mainland in terms of transportation. It would be easier to transport products to various go intos in Asia through Hong Kong.Apart from that, logistic costs can be minimized. The economic position of Hong Kong is another wind which stands out. Hong Kong is a renowned financial and job city, and the policies of Hong Kong suit these characteristics. Noticing the economic trimdom, low tax rates, stabilized cash and comp allowe law of Hong Kong, many companies are giveing to contract their business organisation there. We could accomplish this as well. In addition, the economic situation fits our target. The annual GNP of Hong Kong is somewhat US$45000, which tells us that Hong Kong citizens are generally rich, with a large purchasing power.Since our target market mainly focuses on high income guests, we believe that our brand can generate a large market in Hong Kong. Apart from that, our brand also matches the taste of Hong Kong citizens. As a metropolitan, the schooling flow of Hong Kong is rapid, and citizens can receive information directly. As a result, many citizens are familiar wi th fashion. They hit the sack how to mix and match and they notice good overseas brands. This attracts more and more fashion brands to enter Hong Kong.Recently, another Danish top brand Bruuns Bazaar has had their business in Hong Kong because of the market electric potential of Hong Kong. Currently, a number of citizens know what Bohemian style is and they are interested in it. Having so fewer itinerant boutiques in Hong Kong, this would be a large opportunity for us to be the leader of this style in Hong Kong. Moreover, Hong Kong people generally similar dressing un touchedly, and that is why the simple cutting of H&M and Zara satisfies what they aiminess. This can also be accomplished by us. The dry land tone we are using is public in Hong Kong, to a fault.Therefore, we are sure that we can satisfy Hong Kong peoples specialized taste. The last point is related to our founder, Keld Mikkelsen. ahead founding DAY, he had studied Asian tailoring and culture for over a d ecade 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 meaningful but also useful to develop a large business with Mikkelsens know leadge. To develop our brand as a global business, a start in Asia is essential. There are epochal cities in Asia like Singapore, Bangkok and Tokyo.However, from the perspectives of economy, physical location and social culture, Hong Kong is the best choice to promote our brand globally. Starting our business in Hong Kong would bring us to a new and more successful chapter of DAY. foreign mission statement, goals, objectives Mission statement To drive itinerant style into Asia and to be the leader of capital of Italy style in Asia by providing mass appeal but fanciful and unique merchandise offering superior nurture to client. Through the inspirational key look and iconic design, we are committed to provide our customers with the ultimate creative design.Goals We aim at m aking Hong Kong citizens become interested in our unique design with bohemian style, go for in brain that DAY is a well known brand name in Hong Kong and string grease ones palms in our shops. In addition, we provide introduce our home collection into Hong Kong market within a few years. Objectives Our objective is a 40% increase in employment in the head start half(a) month, following by a 90% increase in transactions from the get-go month of trading to the sixth. In the first year, we depart open a flagship throw in. It is the first step for our brand to enter Hong Kong market and to discombobulate a great profit.Then we will open a branch chisel in for each one year. With our existing non-transactional brand site al take awayy attracting 2000 visitors a day, we are tasked with increasing this number, as well as growing our 14,000 database. We stimulate to ensure that most Hong Kong citizens aged 25-40 will recognize our brand in phoebe bird years. Outside Hong Kon g, we will grant our self-named boutiques in ten other Asian cities within five years. pulverisation analysis Strengths The first competitive good of our company is the amaze of opening retail stores in foreign countries.We demand got over 40 self-named boutiques all around Europe and 800 retailers in 25 different countries. We also have over 15 years experience of running our stores and maintaining our reputation in the market. Secondly, our unique style, bohemian style, is rarely found in Hong Kong and this is beneficial 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 turn away direct rivalry with those brands having similar style as ours. For instance, in the recent spring / pass, the sub-brand of i. , b+ab, has opened a line of bohemian style costume. However, it would not become a great competitor of our brand due to the discrepancy in set range and customer group. b+ab ta rgets at a younger customer group (20+) darn our brand targets at a maturer customer group (30+). In addition to that, the cursory 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 stores in Hong Kong.Apart from that, our high-end product schema has kept the quality assurance of our brand and we hold two fashion shows in Copenhagen fashion week every year in lodge to increase our publicity. Lastly, the low inventory of each item has led to lower carrying cost and would not soar upwards up the cash flow. The small quantity of each design has also practise waterd a sense of scarcity. We can let the customers differentiate themselves from the others with our design. Weaknesses One of the weaknesses of our brand is the location of our payoff factories.As they are far away from Hong Kong, the running cycle will be slowed grim, which is a just problem for a fast fashion company. Moreover, the far-away-distribution bosom will cause longer lead time and high transportation cost. In addition, as the assortment of our business concentrates mainly on one particular flake, Bohemian 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 chain stores in Hong Kong can be kinda furious.Unlike those fast fashion brands with medium price range, it is far more difficult for high class customers to have impulse purchasing. As buying high-priced clothes is save a hedonic need, customers may have to think in two ways in front buying the clothes, and their desire to buy the products may be lowered after considering 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 tend to buy new clothes regularly, they are willing to accept and explode new things.Generally, they welcome new brands to enter Hong Kong market. In addition, bohemian style is instead a new style to Hong Kong. Compared with the sporty and normal casual style which has already existed in Hong Kong, it is rare to have such a retailer store selling bohemian style garment notwithstanding. The unique style may attract customers to beget a visit or even make a leverage in our store. Moreover, we notice that Japanese 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, powder magazines, direct mail, Internet and so forth, with so many Japanese magazines reportage the latest wearing trend 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 talk about the scourges we may face, lacking 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 homogeneous 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 concern about our design, the location of the store ought to have heavy traffic of high class customers, for example, a fashion centre. However, the rent of a store in a fashion centre is ceaselessly high due to the designated atmosphere and the erfect facilities. Besides, there are too many in tertype 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 aforementioned(prenominal) 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 fallen into recession for the first time in five years, and the territorys megascopic domestic product has contracted 0. % on a seasonally adjusted basis, after a 1. 4% fall surrounded by April and June. In 2009, according to official records, Hong Kongs economy has left a year-long recession, written text a growth of 3. 3% in the second quarter ended in June. The figures, which were seasonally adjusted, were high than forecast by economists. As a result, the government has increased its growth predictions for 2009. Even though the e conomy of Hong Kong is improving, concern still exists as the purchasing power of Hong Kong customers has decreased.Retail market strategies Retail format Being 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 enunciate to let people concern more about our brand, we will also run collection shops in Hong Kong. Besides, we plan to create 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 homes 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 brotherly of trendy 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 specialty store in Hong Kong, we would choose a fashion centre as our sto re location. Being a newly developed brand in Hong Kong, it is too risky for us to locate our first store in freestanding sites, central business zone or main streets, where we are responsible for all the operation and advancement.It is also quite difficult to attract customers for their initial visit as our brand is not capaciously known by Hong Kong customers. Renting a store in a fashion centre, on the contrary, is much securer. Being controlled by the mall developer, crude facilities like outdoor signage, parking area, parking lot light and security are provided in the obtain centre. Advertising and special events to attract consumers are also available, and operating costs can be shared out with others.Apart from that, shop centres can usually draw a large number of customers due to the wide range of product offerings, easy access, lower crime rate, and last but not least the average and comfortable shopping environment. Our ideal fashion centres include Elements in Kow loon and Landmark in Central. Being smooth mainly of upmarket 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 small city with such a dense population 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 c entres and properly transfer our cash flow and properties to ensure we are well-prepared for renting a store in Hong Kong. Merchandise assortment For our product categories, we aim at providing a deep assortment of simple and radical clothing. In each category, quite a number of styles would be provided in golf-club to satisfy the customers, and there will not be big differences surrounded by the products sold in Hong Kong and our original merchandise assortment. In order to meet our customers needs, we will provide a wide size 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 people to buy furniture or something else in shops held by a fashion brand, we are afraid 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, items from our home collection will be used, 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 use 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 pricing will not be large. Besides, the low inventory adds value of the products. As each kind of our products is only available in a extra standard, higher price can even be achieved in Hong Kong.However, the pricing 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 pleased to make a purchase and our company can gain positive(p) images. Eventually, our company can earn long-run pr ofits. Generally, big gross 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 pricey products.If we offer large throw outs, 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. some other point is that when we have only one flagship store but without any outlet stores or discount stores, steady pricing, rather of offering big sales such as 70% off, which can be offered in Denmark, would be more appropriate. Yet, seasonal discount is still acceptable. We can offer about 25% off sales at the end of the seasons. On the other hand, we offer VIP systems.Inside our VIP room, there are two types of products. One is our normal products sold at a 20% discount. Another is the exclusive and limited products available only in our VIP room a nd 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. Promotion In order to bring more traffic to our store, we would like promote ourselves in three aspects, which are advertizement, sales promotion and public relations. 1) AdvertisingWe would like to have institutional advertising to promote the reputation of our company by taking a serial publication of promotion photos which can represent the style of our brand. The photos would express the relaxing and leisure feeling of bohemian life-style. As Hong Kong people are generally stressful and busy, photos with relaxing and comfortable feeling would be attractive 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 advertisement on newspapers and magazines.We would choose the South China aurora Post to be the first newspaper we have our advertisement on since it is one of the most celebrated 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 worldwide 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 expensive but 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 w here 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) 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 coming season in the divulge area of the shopping malls, so as to provide opportunities for people to appreciate 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 beautify in the style of our home collection, showing our comfortable and leisure bohemian style.This can let our customers view our products comfortably. One of the most suitable locations for setting up our pop-up store is feast 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 middle of the mall. What is more, people who are attracted by our pop-up store can easily travel 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 fisticuffs 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 cards would also be sen t on their birthdays and at some special festivals, aiming at maintaining the firm connection between our customers and our brand. ) Public relations As for the public relations, we would donate parts of our profits to red Cross as our company has joined the Red Cross Club. This can help improve our image and more importantly support charitable 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 collected would be donate to Red Cross.Customer service In order to increase the brand loyalty of our currently existing customers and to advocate them to make their next visit, customer service is an integral part to operate our brand. As customers give can be destroyed at once by a major servic e problem, we would like to avoid this by providing exceed 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 staff would warmly greet our customers with courtesy.They are good at answering queries and solving 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 carts, track order progress, keep a trained eye out for suspicious activities, and provide weekly activity reports. We fare promises to customers and the degree 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 al so be given to customers if they change their mind in respect 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 specific 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 reticence for our customers as soon 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. remembering design and display Similar to our local store in Denmark, simple and warm tone with discolor lighting would be the main layout of our flagship store in Hong Kong in order to provide customers with warm feeling. The display window 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 being 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 hom e collection will possibly used to decorate the room, aiming at promoting our home collection products. Relaxing and slow background music will be used in our store. As for the cover 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, underwear, bags Target Market high income group middle age -25-40 years old Style The main color is the series of earth tone color, blue, black and white. The blow up pattern are always used in their design. l Retailer distribution channels Boutiques (2067-2069,IFC Mall, Central+852 22347621) online store Mission To provide women with timelessly dramatic pieces that flatter 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 overdraw 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 Most products are sold at a high price and VIP is offered. VIP can enjoy special discounts, fashion shows and parties organized by Roberto Cavalli. fund 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 opalescent and put in large billboards outside 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 powerful 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 crossway with HM to organize campaigns in 2007. Customer Service Generally, the service approach of Roberto Cavalli is expressive. The staff charge 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 ask 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 (2067-20 69,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 emphasis is mainly n merchandise assortment, promotion and store display to create sustainable differential advantages. In terms of the style of merchandise, DAY is presenting 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, especially 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 a ddition, 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 ap proachable to the customers. Considering the stressful life style 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 s elling 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 impact 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. While 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 followi ng goals and objectives, in an go about 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 looking for. Being busy and stressful all the time, they do need a city escape. 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 introduce 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 f eeling 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 imitation 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 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 commit that DAY can 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 organi zed 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 place 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 br and 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 cycle (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 included 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 follow 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 informati on 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 let 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 styl e 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 according 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 and June.The governments economist, Helen Chan, said domestic demand faltered significantly in October, while exports discharge 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.