Heather Stowell Katherine Yow Sam DiBernardo
About Our Brand
Cherish is a children’s apparel and accessory company that focuses on delivering high quality products for babies and toddlers. Â
• Cherish is a wholesale children’s brand. • Wholesale accounts include: Target, Nordstrom, Macy’s, Bloomingdales, and high-end specialty boutique stores nationwide. • By offering products through wholesale accounts, the Cherish brand is able to reach a wider segment of the children’s market and target more customers.
Describe Cherish Value Proposition: What makes Cherish Products Unique?
Cherish concentrates on “child centered design� and aims to provide comfort, security, and nurturing through its product line offerings.
Inspiration
Concept
Design
The Cherish Customer
The Cherish Customer • • • • • • •
Primary Target Customer: Parents, between 28-40 years old. Secondary Target Customer: Grandparents and relatives between 40–70 years old. Primary Target Customer: has an average combined household income of $100,000 or more. Secondary Target Customer: has an average combined household income of $70,000 $80,000. Both Customer types come from a well-educated background, and are of any race or ethnicity. The Cherish Customer lives in a large metropolitan city, and is up to date with the latest news and trends in business, society, and fashion. As a wholesale brand accessible nationwide, Cherish consumers can also be found in smaller cities.
VALS Survey: Achievers and Innovators • Cherish’s consumers are comprised of Achievers and Innovators. • “Achievers have goal-oriented lifestyles and a deep commitment to career and family.” • Innovators are “leaders that are the most receptive to new ideas and technologies. • Innovators are very active consumers, and their purchases reflect cultivated tastes for upscale, niche products and services.”
Cherish Consumer Values • The Cherish customer is motivated by the safety and security of their young children. • They desire new products that provide a high level of quality, and design innovation that meets those needs. • Our consumers value their family and home as a top priority, and their children are the main focus of their lives.
Cherish Customer:
Judy the dedicated Mother • • • • • • • • •
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Age: 32 Ethnicity: Caucasian Marital status: Happily married Children: Has three children; a six month old, a three year old, and a four year old Education: College degree Occupation: Interior designer Income: $100,000 + a year, combined Location: Suburban community just outside of Chicago Hobbies/interests: Watching food network, writing on her mommy blog, and doing DIY crafts with the kids Magazines she reads: Parenting Magazine, Oprah Magazine, and Martha Stewart living Loves: To buy the best quality products for her children
Cherish Customer:
Rose the loveable Grandmother • • • • • • • • • •
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Rose Age: 67 Ethnicity: Caucasian Marital status: Married Grandchildren: Has four grandchildren under the age of five Education: College degree Occupation: Retired/Grandma Income: $70,000 a year, combined Location: lives in Charleston, SC Hobbies/interests: Visiting her grandchildren, knitting, baking, gardening, playing bingo with friends, and watching antique roadshow Magazines she reads: The Wall Street Journal, Garden Design, and Good Housekeeping Loves: To spoil her grandchildren by buying them gifts
The Marketplace
Our Competitors: Carter’s and Gymboree • • • • • •
Both of these companies carry apparel for babies and children from newborn to toddler age. Both compe<tors carry apparel and accessory items such as onesies, children’s blankets, shoes for toddlers, and knit caps. Carter’s and Gymboree are sold in their own brick-‐and-‐mortar retail stores, online on their store’s ecommerce website, and are located within a large shopping mall or shopping center. The only compe<tor excep<on, is Carter’s, which is also sold in wholesale loca<ons such as: Belk, JcPenny, Babies R’ US, Kohl’s, Macy’s, and Sears. The category price points for our compe<tors are as follows: onesies $15-‐$20, children’s blankets $30-‐$50, knit caps $15-‐$20, and shoes ranging from $20-‐$35 without the GPS tracking device offered in our company’s [Cherish] shoes. Carter’s and Gymboree are strong compe<tors to Cherish because they both offer apparel and accessory products made with high quality fabrics for a similar target market.
Childrenswear – A Growing Market
• U.S. Census: infant birth rate has continued to rise in the United States. • Growth in the maternity rate: over 20% of the overall United States population is between the ages of 0-14 years of age. • Rate of 14 births per every 1,000 people [in the U.S. population]. • The fertility rate continues to increase: average of 2 children born per one expectant mother.
Childrenswear – A Growing Market (continued)
• From the charts below [from the U.S. Census] the projected amount of children under the age of 5 will have an increase by the year 2020. • This growth in the amount of children under the age of 5 shows that there will continue to be a demand for children’s’ apparel and accessory products in the United States market.
Specification Sheets:
Two Products Under Development
Fabric Sheets:
Two Products Under Development
Our Business Price, Cost, and Markup Percent
Running Our Business Price, Cost, and Markup Percent
Retail Price: • • • • •
Onesie - $75 Blanket - $95 GPS Trackable Shoe - $150 Shoe without GPS - $100 Baby Cap - $40
Total Cost:
• Onesie - $34.80 • Blanket - $44.80
Markup Percent: • Onesie – 53.6% • Blanket – 52.8%
Cost Sheets:
Two Products Under Development
Marketing Plan
Wholesale at Tradeshows
Tradeshows to Showcase Our Brand • Cherish will be participating in three different trade shows this year: Kidz At Stylemax (Chicago, IL), Playtime (New York, NY) and MAGIC (Las Vegas, NV). • The three trade shows Cherish will be featured in this upcoming year were strategically chosen for geographic location and other venders/international buyers that would be present at each show. • The chart below outlines the details for each tradeshow Cherish will have a booth at for the upcoming year:
About The Shows We Attend: • Kidz At Stylemax tradeshow in Chicago: this show is geared towards children’s apparel and accessories. The Midwest location of the show allows our brand to gain customers throughout Midwest stores. • Playtime tradeshow in New York City: is another children’s focused venue and will allow us to network with international children’s brands and buyers. Participating in a New York trade show will give our brand more exposure to the East Coast markets. • MAGIC tradeshow in Las Vegas: MAGIC is a very well known and respected trade show in the fashion industry, and this opportunity will allow Cherish to be introduced to stores on the West Coast market as well as network with potential international businesses and buyers.
The Cherish Booth
Resources • • • • •
VALS Survey -‐ hZp://www.strategicbusinessinsights.com/vals/ustypes.shtml United States Census -‐ hZp://www.census.gov/popest/data/maps/11maps.html Play<me NY Tradeshow www.play<menewyork.com Kidz At Stylemax Tradeshow www.kidzatstylemax.com Magic Tradeshow www.magiconline.com