Toms Brand Extension Report by MindiDowst

TOMS Shoes, Inc. Strategic Planning Project

Brand Extension: Backpacks

Mindi Dowst, Monica Frontanes, Shaina Levin November 19, 2013 Professor Roy, Fashion Aesthetics and Style

Table of Contents Executive Summary ....................................................................3-4 Project Aims, outcomes and key success factors ........................................ 3-4

Company Summary ................................................................... 4-13 Company History .............................................................................. 4-6 Company Status and Growth Plans ........................................................ 6-8 Brand Identity ............................................................................... 9-10 Position in Market ......................................................................... 11-13

Market Analysis...................................................................... 14-33 Size of Backpack and Handbag Market ................................................. 14-16 Key Players ................................................................................. 16-17 SWOT, PESTEL and Porter’s 5 Forces Analysis ........................................ 18-30 Price/Quality Matrix...................................................................... 31-33

Target Consumer.................................................................... 33-45 Demographics ............................................................................. 33-34 Psychographics ............................................................................ 35-39 Behavioral Information .................................................................. 39-45

The Four Ps .......................................................................... 46-65 Product Strategy ................................................................................... 46-55 Pricing Strategy .................................................................................... 56-58 Placement Strategy ................................................................................ 59-60 Promotion Strategy ................................................................................ 60-65

Conclusion and Key Success Factors ............................................ 66-67 Appendix ................................................................................ ii-vi November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Executive Summary Project Aims and Outcomes

TOMS Shoes, Inc. has stood by the powerful One for One business model. Blake Mycoskie’s entrepreneurial vision became a global movement and continues to change the world today. The success of TOMS Shoes brings opportunity for TOMS Backpacks. Expanding the reputable company to the Travel and Sports Bags category of the Handbag, Luggage, and Accessories market will encourage further success for TOMS and gratification for consumers. Production for TOMS Backpacks will be held in Bangladesh where educational goods and resources are needed. The Bangladesh facility will produce backpacks, which will be distributed to the US. Every backpack sold will provide backpacks to children in Bangladesh and the US who cannot afford these products. Backpacks sold in stores will have prices that our target consumers are able to buy, but also cover expenses to produce products for the Giving Trips. TOMS Backpacks is expected to match the success of TOMS Shoes and Eyewear because of the companies’ reliable product, innovative business model and powerful mission statement.

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Key Success Factors TOMS’s Key Success Factor is their unique business model, which offers products at a Unique Selling Point. The purpose of One for One is to use profit toward manufacturing other products for people in need. The progressive image that TOMS has set keeps the company at an advantage over their competitors. TOMS’s USP becomes a KSF when selling TOMS Backpacks at Macys and Nordstrom. Products sold at these large department stores are comparable to TOMS’s products and may pose a threat to this extension. TOMS is willing to take on this risk with their strong and resilient company to capitalize on the opportunity that lies ahead for TOMS Backpacks.

Company Summary

History Norman Vincent Peale once said, “Change your thoughts and you change your world.” Blake Mycoskie, founder and chief shoe giver of TOMS, said this was one of the quotes he often turned to in order to face his fears of failure and continue pushing for his dreams.

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The idea for TOMS began in 2006 while Mycoskie was traveling in Argentina and met a lady in a cafe who was organizing a donation-based shoe drive to provide shoes for children in poverty. He noticed being shoeless gravely affected the children and decided to help change that. Mycoskie’s concept of “One For One” emerged, stating, “It was a simple concept: Sell a pair of shoes today, give a pair of shoes tomorrow. Something about that idea felt so right, even though I had no experience, or even connections in the shoe business” (Mycoskie 6). The alpargata is a soft canvas shoe that can be seen on almost anyone in Argentina. The name for the company was created using “Shoes for a Better Tomorrow.” Once Mycoskie found a shoemaker willing to help the cause, he was ready for the challenge to sell in the United States. There were 250 samples produced to test on the US market. American Rag became TOMS’s first official retailer. After this relationship emerged, Mycoskie was interviewed for an article in the Los Angeles Times and the story became a major headline. As a result, a record-breaking 2,200 pairs of TOMS were ordered. Only 160 pairs of TOMS shoes remained from the production in Argentina, which forced Mycoskie to place an ad in craigslist for interns to help produce and distribute TOMS. The news of TOMS spread across the US very rapidly with the help of magazines such as Vogue, Time, People and Elle. This influenced Nordstrom, Urban Outfitters and Whole Foods to start selling TOMS. In one summer, the company sold 10,000 pairs of shoes, which encouraged the first official shoe drop to take place that donated 10,000 pairs of shoes. November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

In 2011, TOMS released their concept for eyewear where each pair sold would help give sight to a person in need. Today, TOMS has given over 10 million pairs of shoes to children in over 60 different countries and helped 150,000 people with their sight in 13 countries. On December 23, 2012 TOMS opened its first official flagship store in Venice Beach. Mycoskie says, “the one-for-one model could involve much more than your feet and your eyes--he envisions a Toms empire that encompasses all sorts of everyday products” (Chu). TOMS has the perfect business model that can extend to many different products in order to pursue its mission to help people throughout the world.

Current Status and Growth Plans (See Appendix: iv)

Ownership Blake Mycoskie privately owns TOMS Shoes, Inc. He has an excellent team full of givers, but financial information is scarce. He does not have official shareholders that invest in the company. Mycoskie’s team in California consists of different CxOs, Vice Presidents, Directors, Presidents, and other positions with 650 employees (TOMS Shoes Inc. - Company Profile by Insideview). Mycoskie mostly promotes positions that reflect the company’s mission to give, such as Mycoskie’s title is Founder and Chief Shoe Giver. November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Growth Plans Extensive financial information is not available for TOMS Shoes, Inc. However, some commentators and databases conduct analysis on the company and form studies on their finances. LexisNexis reports that TOMS Shoes, Inc. has yearly net sales of $750,000 and InsideView reports $20 Million makes up the company’s revenue. This information presents data on the developing status of the company and prospective growth plans. These reports should be interpreted as estimates since TOMS does not give out official financial documents.

Current Distribution and Production: Distributed Shoes and Eyewear:

•

Owned Retailer: TOMS Flagship Store in Venice, CA

•

Wholesalers: 3,000 outlets o Nordstrom, Journeys, Urban Outfitters, Zumiez, Neiman Marcus, Surf Shops

•

E-Commerce: TOMS.com, Nordstrom.com, Neiman Marcus.com, Journeys.com, Urban Outfitters.com, Zumiez.com

One for One “Giving Trips,” Shoes: •

Since 2006, TOMS has given away shoes in 60 countries, such as Haiti, Iraq, Jamaica, Belize, Peru and Vietnam.

One for One “Giving Trips,” Eyewear: •

TOMS holds manufacturing facilities in Argentina, Ethiopia, Kenya, Haiti and China. Future production will expand in Brazil

(Referenced from TOMS.com)

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Blake Mycoskie wants his company to have a diverse manufacturing system. He is constantly working on the TOMS Shoes, Inc. supply chain in order to create jobs in developing countries. Having a global apparel business requires a worldwide business structure. According to Kim Bhasin of the Huffington Post, Blake says, “That way, if some factories fall behind, it doesn’t sink the ship.” TOMS is able to experiment manufacturing in different countries. However, it is more difficult to establish a successful supply chain in a country that does not have a founded apparel industry. Mycoskie’s plan for future factories in Africa is to import machinery and train the workers. The training will be done by people who come from shoe manufacturing companies in countries like China and Vietnam. Mycoskie’s comments on his strategy toward his company’s supply chain and says, “You have to have people who represent your company in the factories every day to make sure the product are the right quality, how they’re treating workers—everything” (Bhasin). He is not only making a difference in children’s needs for shoes or proper eye care, but he is also providing jobs in some of the world’s poorest countries. November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Brand Identity Matrix

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TOMS’s identity, described as a person, product, symbol and organization, represents the company’s true DNA. TOMS as a person is simple and free spirited as shown in many product campaigns. This person is aware of the environment and social causes. Travel is a passion and philanthropy is apart of this person’s lifestyle. TOMS as a product consists of women’s shoes, men’s shoes, apparel, eyewear and limited accessories. These current products leave room for a product extension in backpacks. The brand has many different symbols, but some are more identifiable than others. The TOMS blue and white striped flag is the brand’s main symbol because this widespread cause flaunts the flag through their packaging and campaign. ‘One for One’ has become a slogan for the brand and symbolizes receiving and giving. Children receiving the shoes are symbols because TOMS spreads photos worldwide to show how the mission is being executed. The classic black canvas shoe, earth tones, and ethnic prints symbolize the popular designs of TOMS shoes. TOMS as an organization represents a for-profit company with a non-profit mission with a business model that launched being the first of its kind. The company is also private and keeps finances out of the press. Philanthropy is a huge part of the company as well as maintaining a global image through its business model and supply chain.

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Price/Quality Matrix

TOMS Shoes, Inc.

700 600 500 400 300 200 100 0

Price Comparison

Low Price

High Price

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The Price/Quality Matrix presents a comparison between TOMS and other competitors in terms of price and quality of merchandise. Some competitors, such as Oakley, Ray Bans, and Converse provide higher prices than TOMS while other players like Sanuk and Vans fall lower in price. TOMS, as a result, becomes a moderately priced brand with acceptable quality compared to competitors. This placement makes TOMS a major key player in the industry but also an affordable one. TOMS has been able to achieve a desirable position in the marketplace because it is not too densely populated. This positioning in the market has kept TOMS a major key player in the industry with wanted products at an affordable price.

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Market Analysis Size of the Backpack Industry in the US

(Referenced from Appendix: iii)

Handbag, Luggage, and Accessory Stores In the US (2013): Profit: 985.9 million Revenue: 9.2 Billion Businesses: 27,999 Annual Growth rate 2008-2013: 1.2 % Prospected Annual Growth 2013-2018: 4.6% November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

(See Appendix: iii)

TOMS backpack brand extension falls under the ‘travel and sports bags’ category with 16.2% total revenue for the accessories industry. The research provided above proves that the size of the handbag, luggage and accessories market is expanding rapidly. As the economy fully recovers from the Great Recession, the demand for this industry increases. “Per capita disposable income is anticipated to grow at an average annual rate of 2.5% from 2013 to 2018, which is a stark contrast from the 0.2% annualized decline of the past five years” (IBISWorld). Rising incomes encourages consumers to spend more on non-necessity items, such as handbags and accessories. However, higher demand for domestic and foreign travel will encourage consumers to spend their income on necessities like luggage and backpacks.

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There will also be an increased amount of online spending, which will benefit TOMS backpack brand extension that will sell on TOMS.com and other retailers’ websites. “With the age of information in full swing, consumers are flocking to the Internet for research and subsequently purchasing their desired products online at the most attractive price” (ISBNWorld). Consumers’ growing income and online spending will drive sales toward the handbag, luggage and accessories industry as a whole, but revenue in the travel and sports bags category will thrive. This market remains a necessity for consumers as they begin to travel more and need durable bags for education and professional purposes. TOMS’s brand extension in backpacks will flourish from this change in consumer spending and improved demand for backpacks.

Key Players

Competitors Brands: • Northface • State • L.L Bean • Jansport • FEED Bags • Nike • Ogio • Eastpack • Adidas • Sakroots • Oak

Retailers: • Target • Macys • Bloomingdales • Nordstrom • Sears • J.CPennys • Journeys • Belks • Kohls • Urban Outfitters

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These are TOMS’s main competitors for the extension. Their biggest competitors, FEED Bags, State, and Oak, have similar business models, giving to charity with every purchase. Macys and Nordstrom are major retailers that pose a threat to this extension because they sell brands that are comparable to TOM’s products.

Backpacks

sold

these

retailers

present

similar

price/quality

characteristics as TOMS’s new extension of backpacks. Exploring key players in TOMS’s product market help determine placement strategies of the brand extension.

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SWOT Analysis: Handbag, Luggage and Accessories Industry (See Appendix: iii-iv)

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TOMS Shoes, Inc. has strengths and weaknesses as a brand that sells shoes, eyewear, and other miscellaneous products. The brand has developed a positive reputation from its established one-for-one business model. Consumers are attracted to TOMS’s social cause not just toward poverty, but also a change in lifestyle for children and adults around the world. As a result, knowledge of TOMS has spread by the word of people who believe in the company’s mission and are passionate toward the product line. These customers love TOMS’s philosophy toward maintaining an ecofriendly business within their product materials and business operations. These customers become loyal to the globalized brand. The company is not perfect, however, and always works toward improvements. TOMS is a young company that is constantly evolving different aspects of the business. There are limited product lines and that is why we are extending the brand to the handbag, luggage and accessories industry. TOMS currently has limited product promotion; information regarding product lines and brand lifestyle is primarily found on TOMS.com. This weakness leaves room for further promotion strategies that will attract more, diverse customers. The handbag, luggage and accessories industry has opportunities and threats that TOMS Shoes, Inc. should take advantage of and expand toward. Domestically, consumers are increasing spending because the economy is improving out of the 2008 Recession. As a result of consumer demand in the handbag, luggage and accessories industry, and companies are forced to turn to global manufacturing where expenses November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

are low and quality is up to their standards. TOMS Shoes, Inc. will capitalize on this concept because the company strives on providing jobs for countries around the world. The brand gives away product following the one-for-one model in countries where they produce product. Providing jobs and work training will reduce the unemployment level in developing countries. Other opportunities in this industry lie in innovative advertising, which will expand brands and promote to wider range of customers. Handbag, luggage and accessories companies should also recognize the opportunity to provide luxury at affordable prices. Consumers are demanding high quality, trendy products to give them a sense of luxury, but they will not pay if they are not able to pay. Threats that exist within this industry include counterfeit products, high consumer purchasing power, and low entry barriers. Counterfeits exist in he handbag, luggage and accessories industry because there are low barriers that do not prevent new entrants. Consumers are demanding in this market and their purchasing power is high because it depends on the economy. If the economy is strong, consumers will be willing to spend their income as opposed to holding their income when the economy is weak. Another threat is the political, social, and economical environment occurring in manufacturing countries. The success of the manufacturing process is dependent on the environmental status in that country. In the handbag, luggage, and accessories industry external competition becomes a threat as stores and online stores create competitive rivalry.

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PESTEL Analysis: United States of America Political: • Democratic government • Strong, organized economy • Stable political system: The Federal System • Strong foreign trade policies through NAFTA (Alessi) • Organized, but complex taxation with many components • Regulate wages, benefits, safety, health and nondiscrimination policies • Government supports expansion of Accessories industry to engage in foreign trade Economic: • Described as ‘Old Economy’ • Dependent on consumer spending patterns, which increases consumers’ purchasing power (Giraldo) • Rising incomes • Reduced unemployment • Weak exchange rate attracts foreign customers • Government spending helps and supports foreign trade • Wages are estimated to grow consistently Social: • Growth in aspiration shoppers who want luxury handbags at lower price (Giraldo) • Disposable income levels are low in weak economy, which dictates consumers’ purchasing power • Teens 13-19 years old spend 42% of their budget on fashion merchandise • Purchasing power of Generation Y is high because their disposable income is increasing • Generation Y accounts for 25% of the US population, which causes them to inspire fashion designers and companies • Generation X accounts for 37% of Handbag, Luggage & Accessory market • Baby Boomers not spending income on accessories • Consumer demand is higher during certain seasons Technological: • Maintains and updates trends for consumers • Easy to use and accessible 24/7 • E-commerce causes saturation of industry • Shifting trend of retailers needing online shopping website to survive • Handbag, luggage & accessory industry is in mature phase of life cycle (Giraldo) • Women’s handbags dominate market while full acceptance of men’s handbags is uncertain 21 November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Environmental: • Consumer Product Safety Improvement Act bans production of children’s products containing lead, enforces safety on importing, testing, and labeling products (Compliance Assistance By Audience) • Regulations on manufacturing is issued by the state government • Awareness of lean manufacturing methods and policies to prevent waste • EPA regulates, enforces, permits, and monitors manufacturing businesses in US Legal • Government enforces Department of Labor laws (Compliance Assistance By Audience) • Enforced counterfeit laws and regulations, such as the Lanham Act • Health and safety laws are implemented in manufacturing facilities and company buildings • Antitrust laws against unfair competition are placed for businesses • Textile and Wool Acts require businesses to disclose information regarding country of origin for products (Advertising and Marketing on the Internet) their • Companies are permitted to follow Textile Fiber Production Identification Act The political environment in the USA is stable with a democracy and a strong, organized political system. The USA supports and has an organized foreign trade system with policies through NAFTA. The economy in the USA is fully developed with reduced unemployment and rising incomes. However, consumer spending is based on how strong or weak the economy is during a specific time period. Socially, the US has increasing consumers who are shopping for luxury handbags, luggage and accessories at an affordable price. The teen population ages 13 to 19 years old spend almost half of their budget on fashion merchandise, which shows increasing demand in younger generations (Giraldo). Technologically, E-commerce is constantly updating to expose the latest trends for demanding consumers. This has caused saturation for the November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

handbag industry as E-commerce makes it easy to access any handbag designer or brand. Environmentally, the US regulates the health and safety of product production, testing and labeling. There are lean manufacturing policies that promote the use of waste materials (Compliance Assistance By Audience). The EPA helps monitor and regulate manufacturing businesses in the US to enforce safe and healthy conditions. The US implements legal policies to create successful environment for businesses. The government supports Department of Labor laws as well as policies against counterfeit products. Antitrust laws protect businesses from unfair competition. These environment aspects in the US represent a stable and organized state for the operation of businesses.

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PESTEL Analysis: Bangladesh Political: • Democracy (“Bangladesh: Risk Assessment.”) • Parliamentary Republic with Legislative and Parliament Divisions • Issues in governance, corruption, and infrastructure • Government supports foreign investment, but the system is highly regulated and there is little improvement Economic • Bangladesh sends 85% of its exports to the US (Cooke) • Pre-industrial economy • Exports in garment production maintains steady annual growth rate of 20% • Ready-made garment industry provides 1.8 million new jobs, which contributes to more than ¾ of Bangladesh’s exports • Weak financial system causes weak fiscal revenues • Downward price pressures occur to stay competitive • Limited capital toward economic growth • Low unemployment rate with high rate of underemployment with few hours and low wages (Bangladesh: Statistics GlobalEdge) Social • Inadequate education and job training (Cooke) • Increased growth in population • Resistance to industrialization • Risk of social unrest because of poverty and inflation issues Technological • Constant energy shortages (Bangladesh: Economy GlobalEDGE) • Lack of infrastructure Environmental • Policies are enforced to prevent ship pollution and hazardous waste (Bangladesh: Economy GlobalEDGE) • Support Ozone Layer protection, biodiversity, and endangered species • Risk of severe natural disasters (“Bangladesh: Risk Assessment.”) Legal • State owned enterprises are public sectors, which causes inefficiency • Foreign investment is highly regulated and not effective

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TOMS Shoes, Inc. will be manufacturing backpacks in the Bangladesh facility where shoes and eyewear are currently produced. The political environment is not organized and has problems occurring with infrastructure, government decisions, and corruption. Bangladesh’s government embraces their flourishing exports in garment production, but they overregulate the system. TOMS Shoes, Inc. enforces regulations in their facility and strictly monitors the health and safety of its manufacturing process. TOMS has a full team to live up to its Corporate Responsibility standards and regulations. Since this global supply chain has many risks, TOMS is open to display their system and code of ethics on TOMS.com.

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Supplier Code of Conduct: • Minimum Work Age: Against child labor. Workers should be 16 years or older or should meet the age according to the country’s law. •

Voluntary Employment: No forced labor

•

Non-Discrimination: Against discrimination toward race, color, age, gender, sexual orientation, ethnicity, religion, political affiliation and more

•

Wages and Benefits: Providing wages, overtime, and benefits that follow the requirements

•

Hours and Overtime: Working more than 60 hours a week is unacceptable

•

Freedom of Association/Collective Bargaining: Respect worker’s decision to join worker group and bargain

•

Workplace Health and Safety: Workplace should be safe and healthy for employees

•

Positive Work Environment: Respectful conduct is required. No harassment.

•

Environmental Impact: Environmental laws should be followed.

•

Subcontracting: All subcontracting should be approved or consequences will occur.

•

Legal Compliance: All laws having to do with the business and the Supplier’s country will be obeyed.

•

Code Implementation: Suppliers will support and follow this Code. If Suppliers do not follow the Code, termination will be considered. (Referenced from TOMS.com)

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Porter’s 5 Forces Model

(See Appendix: iii)

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Power of Suppliers: Bargaining • LOW-The amount of suppliers that the handbag, luggage and accessories industry has to choose from is reaching its peak. The ability to substitute and widen a companies’ supply chain is easy and the cost of changing suppliers is low (Giraldo). Bargaining Power of Customers: •

HIGH-Customers have endless choices of handbags, luggage and accessories. This industry offers handbags that can have retail prices ranging from $10 to thousands of dollars. Customers are very sensitive to price and are willing to sacrifice quality and aesthetic during a purchase.

Threats of New Entrants: •

HIGH-This industry has low barriers and the time and cost of entry is low, which means it is easy to enter this market. The industry size is always increasing, which allows opportunity for economies of scale. There is no complex specialist knowledge involved in producing in this market and technology protection is low.

Threats of Substitution: •

HIGH-It is easy for customers to find different ways of producing in the handbag, luggage and accessory market. The substitute performance is high and cost of change is low.

Competitive Rivalry: •

HIGH-As department stores, retailers and online stores expand, the competitive rivalry in the handbag, luggage and accessory industry increases. As a result, suppliers are becoming widespread in foreign countries. This allows discount stores to give customers what they want. Customers are gradually spending more, but always look for a bargain. Smaller stores and boutiques are at risk as department stores’ promotional pricing drives customers.

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In the handbag, luggage and accessory industry, the bargaining power of suppliers are low, the bargaining power of customers is high, the threat of entrants is high and the threat of substitution is high. All of these factors leave the industry with a high competitive rivalry. The numbers of suppliers are growing because more retailers and designers want their products outsourced for the low price that foreign countries offer (Giraldo). Their uniqueness of service is increasingly low as more countries are gaining manufacturing facilities. This allows companies to easily substitute suppliers for a low cost. The reason that suppliers have become so widespread is because of the strong power that customers hold. As disposable income gradually increases after the recession, customers are able to spend in this market. Domestic trips are becoming popular and customers need handbags and luggage. For foreign travelers, these consumers value American goods and help to drive sales. The threat of new entrants is high because barriers to enter the market are low and there is little investment of time and money. Handbags, luggage and accessory stores in the US offer prices ranging from 10 to thousands of dollars. This puts the market at a place where almost anyone is able to enter. The threat of substitution is high because business operators in the industry, either in store or online, are constantly emerging and listening to consumer demand.

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These powers and threats encourage a high competitive rivalry in this industry. Retail stores, department stores, and online stores are all competing against each other. In IBIS World’s Industry Report, Geraldo writes, “In an effort to remain competitive, industry players are increasingly depending on exceptional customer service to drive sales.” Retail employers work hard to sell product because customers remain sensitive to price. As a result, employers’ annual salaries have grown from $22,440 in 2008 to an approximate $23,554 in 2013. This industry is constantly competitive to maintain a low priced outsourcing system and a high number of customer purchases in order to gain profit margin. The industry that TOMS is apart of presents a high level of competition, but the company provides USP to its consumers. The strong One for One business model attracts consumers to TOMS’s inspiring marketing campaigns and ultimately drives sales to their classic and trendy merchandise. November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Price/Quality Matrix Backpacks 300 250 200 150 100 50 0

Price Comparison

Northface L.L Bean Jansport

State

Nike

Adidas

Low Price

Ogio

Feed Bags Eastpack Sakroots

Oak

High Price

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The Price Quality Matrix for the Accessories market shows where TOM’s competitors in this industry fall into place. With this data they can determine where they want their products price and quality to be in this industry. They want to place their product somewhere in the middle of the matrix to ensure high enough quality but also keep the price relatively affordable.

Target Consumer

Demographics:

Gen X: • Age: 37 – 48 • Gender: Male/Female • Occupation: Professionals • Income Level: $32,184 - $104,589 • Ethnicity: Diverse • Marital Status: Single/In a Relationship/Married (Referenced from Appendix: v-vi)

Gen Y: • Age: 19-36 • Gender: Male/Female • Income Level: $8,901 - $41,756 • Occupation: Students/Professionals • Ethnicity: Diverse (More Hispanic Population than Gen X) • Marital Status: Single/In a Relationship/Married

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(Referenced from Appendix: iii)

TOMS brand extension for backpacks will focus on generations X and Y. Gen X and Gen Y make up well over 50% of the US consumer market. Gen Y is the younger generation of our consumer. They consist of students and professionals while Gen X includes primarily professionals, as they are the older generation for our target consumer.

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Lifestyle/Psychographics: Gen X: • In need of attention but not used to supervision • Prefer non-routines • Anti-institution • Seek extensive peer input • Money comes in forms of credit cards and clicks • Willing to wait to purchase quality • Passionate about controlling their time • Want interaction with media

• • • • • • •

They prefer non–textual information Simplicity means practicality They like sales and service that anticipates their needs They are innately suspicious of advertising They research thoroughly before shopping They are comfortable challenging salespeople Pride themselves on making smart purchases

(Referenced from Appendix: ii)

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Gen Y: • Technology reliant, image driven, multitasking, open to change, confident, team-oriented (Fromm) • Adopt new technology • Use entertainment devices • Value social networks • Expect brands to participate in social media • Desire success and status, value rewards • Feel strongly about health • Shop frequently, but likes to save money • Females shop in groups • Females prefer discounts and specialty retail • Females seek sales associate expertise • Males prefer mass/value department stores • Males value sales associates as trusted advisors • Adjust spending due to economic conditions • Millennials donate via SMS • Males and Females donate differently • Hispanic Millennials are the most charitable • Millennials volunteer time and make conscious purchases • Millennials and Non-Millennials aware of different cause campaigns from digital channels • Don’t take life for granted • Value ability of choice. If they are not offered the right options, they will attempt to create them • Millennials rely on computers to assist in decision making • Money comes in the forms of credit cards and clicks • Need immediate gratification • Many have come of age with a regular flexible income • They are conditioned to receive free “stuff” • They are highly influenced by friends and congregate in groups • They want media they can call their own • They are highly brand conscious • Attracted to immediate opportunities for affluence • They have become experience consumers at an early age Gen X and Gen Y: • Women favor fun shopping environments • All generations want cause programs to work 36 November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

This graph reflects how these generations shop, research and make purchases. Millennials shop more collaboratively than Non-Millennials.

(Referenced from American Millennials, Jeff Fromm, Appendix: ii)

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Generation X’s psychographics when shopping are generally mature and practical. They are confident in what they want and need. This generation values quality and will wait to purchase this special item at a satisfying price. Valuing independence, Generation X will conduct extensive research before buying products. They are willing to challenge salespeople in order to get what they want. Shopping online and social media also fit in to their lifestyle. Generation Y uses outside influencers as inspiration when they shop. They rely on technology as they use social media and other forms of research to satisfy their needs and wants. Generation Y is able to adjust their spending according to the climate of the economy, but when they want something, they desire instant gratification. As a result of following a widespread amount of networks through social media, this generation values awareness of different social causes. This connection to the media causes a high level of influence by the Internet as well as friends and peers. They are driven by what they see, so achieving affluence and success becomes a primary motivation. Generation X and Y share a few psychographics. Generation X and Y both shop often and enjoy the experience. The level of influence regarding social causes is different, but both generations value the success of the messages and missions. They admire strong causes like TOMS, which make decisions to purchase products easy. TOMS reaches out promotionally to both generations in order to cater to their needs.

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Generation X will recognize TOMS through retailers or articles as opposed to social media, which will attract Generation Y.

Behavioral Information:

Television: • Millennials watch TV on their terms • Mode of watching television: • Mobile device • Computer o Hulu.com o Netflix • DVRs/TiVo • On-demand • Roku • Real-Time/Live – during normal programming (Gen X is more likely to watch the show when it airs) (Referenced from Appendix: ii)

November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Technology: • Digital Camera (X)(Y) (Fromm) • Laptop (X)(Y) • MP3 (Y) o IPod, ITouch • Gaming platforms (Y) o Wii, Xbox, PlayStation • Desktop (X) • Smartphone (Y) o IPhone, Blackberry, Android • Cellphone (X, Y) • Desktop for work (X, Y) • Laptop for work (Y) • EReader (X, Y) o Nook, Kindle • Tablet (Y) o IPad, Motorola Zoon, Samsung Galaxy Gen X Main Internet Use: • Email, news, banking, shopping Gen X Top Used Websites: • Facebook, MySpace • Wikipedia, Yelp • YouTube, Flickr, Pandora • EBay, Craigslist, Amazon • Netflix, Hulu • Perez Hilton, NY Times Top Websites Used (Gen X and Gen Y): • Google, Bing, Ask, MSN, Wikipedia, Yahoo • LinkedIn, Wordpress, Twitter, Facebook • EBay, Craigslist, Amazon • YouTude (Referenced from Appendix: ii) November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Stores: • Ann Taylor/Ann Taylor Loft • Abercrombie and Fitch • Aeropostale • American Apparel • American Eagle • Anthropologie • Armani Exchange • Banana Republic • Bebe • Bloomingdale’s • Brooks Brothers • Brooks Brothers Women • Buckle • Burlington Coat Factory • Charlotte Russe • Chico’s • Coldwater Creek • Diesel • Express • Free People • Guess • Jos A. Bank

• • • • • • • • • • • • • • • • • • • • • • •

L.L. Bean Levi’s Lucky Brand Lululemon Athletica Madewell Marshalls Nautica Men’s Warehouse Neiman Marcus Nordstrom Gap J.Crew Urban Outfitters Saks 5th Avenue Macy’s Belk Dillard’s JCPenney Kohl’s Old Navy PacSun Quicksilver Ralph Lauren

• • • • • • • •

• • •

Ross T.J. Maxx North Face Timberland True Religion Victoria’s Secret Wet Seal White House/Black Market Sears Wal-Mart Target

(Referenced from American Millennials, Jeff Fromm)

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Travel in the USA: • Atlanta • Austin • Boston • Charleston • Charlotte • Chicago • Dallas/Fort Worth • Denver • Honolulu • Houston • Key West • Las Vegas • Los Angeles/Orange County • Miami • Nashville • New Orleans • New York City • Newark • Orlando • Philadelphia • Phoenix • San Antonio • San Diego • San Francisco • San Juan • Santa Fe • Washington, D.C

Social Cause Campaigns • Yoplait: Save Lids to Save Lives • Nike and Lance Armstrong Foundation: Live Strong • Pepsi: Refresh • Dove: Campaign for Real Beauty • Gap/Product (RED): Eliminate AIDS in Africa • Tom’s Shoes: One for One Campaign

November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

This graph reflects the attitudes of both generations and the technology they use when shopping researching and making purchases. Millennials use technology to shop more than Non-Millennials.

(Referenced from American Millennials, Jeff Fromm, Appendix ii)

November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Gen X (Millennials) and Gen Y’s (Non-Millennials) can be examined through technology use, shopping and travel habits and social cause awareness. The difference between the two generations is how they make purchases and where they gather information (Fromm). Television shows are watched live, but also at later times through TV’s, mobile devices and computers. Gen Y, also known as Millennials, watch shows when it is convenient, so they take advantage of the Internet or recording devices (Fromm). Gen X is more likely to watch shows during the actual airtime. Technology, such as cameras, laptops, IPods and tablets are used by both generations, but generation Y can be defined as more tech savvy. Generation X uses the Internet for more information and financial purposes while Generation Y uses the Internet for entertainment and shopping. According American Millennials by Jeff Fromm, “More than 50% use their smartphones to research products or services while shopping.” However, both generations share common use of popular websites, such as Google, Wikipedia, EBay, Facebook, and Ask. The shopping facilities included are widespread because Gen X and Gen Y have many different needs and wants. Retailers, such as Nordstrom and Urban Outfitters will attract our target consumer for TOMS Backpacks. Students who shop discount stores like T.J. Maxx and Target will purchase TOMS Backpacks because of their belief in the mission underlying the brand. Professionals may value Brooks Brothers or Ralph Lauren products, but also find time to relax and travel with TOMS Backpacks. November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Domestic travel is seen in both Gen X and Gen Y nationwide. Our target consumer appreciates exploring places like San Francisco, Boston, and Key West. Traveling with TOMS Backpacks will satisfy their need for a fulfilling journey. Social cause campaigns are important to Gen X and Gen Y because they want to be aware and like to be inspired. Brands like TOMS will sell product surrounding a specific cause and need. Consumers want to buy these products because they are loyal to the brand, enjoy their products, and feel achieved giving back to someone in need of food or clothing. The business model that TOMS has attaches a social cause and campaign to every collection and product line. TOMS Backpacks will be providing children in need of backpacks for school. Our target consumer will be happy to purchase our durable and trendy backpack while supporting a positive and important cause.

November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

4 Ps Strategies for Backpacks Product Strategy: Color Ways

November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Concept Board

November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Mood Board

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Products

November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

The TOMS backpacks were inspired by traditional Argentinean bags, used by natives in the countryside of Argentina. Maintaining TOMS’s classic aesthetic and ethnic styles, the designs are simple and incorporate a fine balance between bright and earth tone colors. TOMS’s inspiration is not only the traditional Argentinean bags but also a reflection of the SoCal lifestyle. The bags are made completely out of the medium-weight cotton fabric and canvas, the same fabric that is used for the classic model of their shoes. This combination of textiles provides flexibility and durability with a traditional TOM’s design, representing travel and spirit. The black canvas backpacks will be filled with school supplies in time for the Giving Trips to Bangladesh and the US. Providing these goods will give children the right attitude and proper education they deserve.

November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Pricing Strategy: Product Pricing

$65.00

$75.00

$65.00

November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

$75.00

$85.00

November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

The backpacks are priced based off of TOM’s competitors in the marketplace. They are priced relatively low compared to other main competitors, such as North Face and State bags. The prices are leveled adjacent to Adidas and fall similarly to as bags sold by Eastpack, Sakroots, and Oak. This placement is how TOMS determines prices for TOMS Backpacks. The backpacks will be sold at an affordable price to accommodate most income levels. The $65-$85 range will allow TOMS to gain enough revenue to facilitate production toward the Giving Trips. The black canvas backpack is designed specifically for children in need. The children will receive TOMS Backpacks filled with school supplies that will help them reach their educational goals. The classic solid black and grey backpacks cost less to produce the striped and ethnic printed backpacks. The printed backpacks have fabrics and hardware that cost more to produce. TOMS Backpacks are designed to accommodate the simple as well as spirited consumer. The price range will not impede consumer’s purchasing decisions in helping TOMS succeed their mission toward children’s education.

November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Placement Strategy: Distribution in US Owned Retailer: TOMS Flagship Store, Venice Beach, CA Wholesale: Macy’s, Nordstrom, Neiman Marcus, Urban Outfitters, Journeys, local surf shops E-Commerce: Macys.com, Nordstrom.com, Neimanmarcus.com, Journeys.com

As TOMS outsources backpacks in Bangladesh, the products will be sent to TOM’s headquarters in CA for the distribution process. The backpacks will have larger, but consistent packaging materials and appearance to match the shoeboxes. TOMS Backpacks will be sold through the above retailers, wholesalers and ECommerce websites. Selling through one owned retailer in Venice, CA exemplifies the brand’s original roots. Maintaining this operation upholds the authenticity of brand, its positive reputation, and long-lasting image. The retailers above currently sell TOMS shoes and also fit the extension to TOMS Backpacks because of their diversity in products and proper placement regarding price/quality levels. In order to distribute successfully, TOMS Shoes, Inc. will uphold to the Corporate Responsibility principles. Current relationships with a variety of manufacturing for TOMS Shoes have left a positive reputation to set up for TOMS Backpack production. TOMS already has manufacturing established in Bangladesh, November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

which allows timely production for backpacks. This new product line will thrive in TOMS’s established successful and ethical supply chain.

Promotion Strategy: During pre-launch, period and post-launch periods, forms of advertising will be implemented to promote TOMS Backpacks. Promotions will be applied through print, outdoor, social media, event and movements.

Types of Promotions Print advertising includes catalogs and print magazines as well as online magazines. TOMS does not provide advertisements through print sources, but the brand does provide insight and information regarding the latest product line and achievements. TOMS Backpacks will be promoted through TOMS request only catalog. Magazines that have booked interviews with TOMS consist of Forbes, Teen Vogue, and Vogue Magazines. Huffington Post and Fast Company also will include articles promoting TOMS Backpacks. These print articles may include a questionnaire on our inspiration and design process. Outdoor advertising is limited, but TOMS supports promotions through University campuses. This year, TOMS will market the company to students who can become TOMS Shoes, Inc. Campus Representatives. This role will come with perks for the student as well recognition for TOMS as a social cause and a 60 November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

company. Social media is TOMS’s primary source of advertising because it is an easy way to connect ad share news worldwide. TOMS will promote through Facebook, Instagram, Twitter and YouTube. There will be marketing contests to get fans talking about TOMS and excited about TOMS Backpacks. Event marketing will include our launch party in Venice as well as other themed events to increase awareness. TOMS will host movements as a part of their promotion plan. Themed events, such as One Day Without Shoes will expand awareness of TOM’s products and benefit more social causes.

Pre-Launch During the pre-launch, TOMS’s YouTube Channel will kick start a series of promotion events with an inspiring video of TOMS upcoming product line of backpacks. This video will be posted and shared on Facebook, Instgram, and Twitter. These pages will also attach photos, flyers and mood boards to the save-the-date card for the Launch Party in July. The catalog will send a special flyer to members, giving them exclusive access and a 20% discount on one of our new products. The June issue of Vogue Magazine will be submitting a small article on TOMS to tell readers about the success of the company and upcoming brand extension. During this time, we will promote to campuses to gain representatives. TOMS Facebook, Instagram, and Twitter will be updating readers on the process with backstage photos. The YouTube video campaign will be streaming all over TOMS social media pages, collecting ‘Likes’ and 61 November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

followers. In April, we will have our annual One Day Without Shoes movement, which is always a successful event.

Launch The Launch Party of TOMS Backpacks will take place in July beachside at the pier in CA. TOMS will be hosting a concert for this party played by Mumford and Sons. These artists fit the brand aesthetic and style and the band is a huge supporter of TOMS. The event will promote our mission to spread educational resources in Bangladesh. All attendees will pay a small fee, which will contribute to our effort to fill every backpack with school supplies given to Bangladesh. There will be a Facebook, Instagram, Twitter and YouTube promotions for the launch, showing photos of the Launch Party and attendees receiving the backpacks. Catalog members will receive look books and details of TOMS Backpacks during this product launch month.

Post-Launch Following the Launch Party, TOMS will start promoting this new product line. Forbes Magazine, Huffington Post, and Fast Company will help market these amazing products with a purposeful cause. University Campus Representatives will be required to host booths and give out flyers to market TOMS Backpacks. There will be a Facebook Backpack Design contest, an Instagram TOMS Photo Contest, and a Twitter November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Best Tweet Contest. Winners will receive a free backpack and a free trip to TOM’s headquarters in CA. Save The Ta-Tas will collaborate with TOMS to host a 5K run in October to raise money for Breast Cancer Research. Triple T: TOMS Turkey Trot will occur in November to raise money to give out Thanksgiving food to families in need. The Holiday Backpack Gifts event will occur in December, which will collect backpacks and school supplies for children in need. These events have themes and specific causes attached to benefit TOMS as a merchandise and philanthropic company. These events will host sponsors and vendors including TOM’s brand new Backpack line.

November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

Conclusion TOMS Shoes, Inc. has a unique business model that can carry a variety of products through its One for One system. Blake Mycoskie’s dream for the company is to expand to as many brand extensions as possible. The opportunity to reach more social causes like children’s education lies in front of TOMS. It is the team’s job to take advantage of these prospects with proper company analysis, consumer research, financial backing, and range planning. Established in 2006, TOMS continues to grow, maintaining their strengths and improving their weaknesses. They are globally aware in order to examine their opportunities and threats. Their business model and product lines have played strong roles as Key Success Factors, which do not spread through editorials. Instead, knowledge and positive feedback come from word-of-mouth and online reports. Consumers are loyal to TOMS, but threats of low barriers in the market still exist. Products similar to TOMS in design and mission are sold in department stores, such as Macys. TOMS wants to compete with these counterfeit products in selling TOMS Backpacks at Macys, which offer a USP. TOMS is aware of their Corporate Responsibility during the manufacturing process of TOMS Backpacks. TOMS’s team works closely with the Bangladesh facility and ensures an ethical and safe working environment to protect the quality and authenticity of our products. November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

TOMS Backpacks tells a story of a product line that will magnify opportunities for children. Giving children the proper resources to experience the education they deserve is a powerful message. TOMS Backpacks is the next global movement that will succeed in expanding TOMS as a business as well as restoring children’s lives and changing consumer’s perspectives.

November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

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Demographic Profile America's Gen X. Rep. New York: Metropolitan Life Insurance, n.d. Web. 17 Nov. 2013. Demographic Profile America's Gen Y. Rep. New York: Metropolitan Life Insurance, n.d. Web. 17 Nov. 2013. Fromm, Jeff. American Millennials: Deciphering the Enigma Generation. Rep. N.p.: Barkley, n.d. Web. 17 Nov. 2013. Giraldo, Vanessa. "Handbag, Luggage & Accessory Stores in the US." IBISWorld. IBISWorld Inc., Sept. 2013. Web. 5 Nov. 2013. "Manufacturing | SBA.gov." Manufacturing | SBA.gov. Business USA, n.d. Web. 05 Nov. 2013. Mycoskie, Blake. Start Something That Matters. New York: Spiegel & Grau, 2012. Print. "TOMS - One for One Shoes & Eyewear | TOMS.com." TOMS - One for One Shoes & Eyewear | TOMS.com. N.p., n.d. Web. 21 Oct. 2013. "TOMS Shoes Inc. - Company Profile by Insideview." TOMS Shoes Inc. - Company Profile by Insideview. InsideView, Inc., n.d. Web. 21 Oct. 2013. TOMS Shoes: Yearly Financials. Rep. N.p.: LexisNexis, n.d. LexisNexis Academic. Web. 17 Nov. 2013. "Toms Tackles the Problem of Kids Without Shoes: Video." Bloomberg.com. Bloomberg, 24 June 2013. Web. 21 Oct. 2013. "US Taxation." US Taxation. N.p., n.d. Web. 05 Nov. 2013. November 21, 2013 | TOMS Shoes, Inc. Strategic Planning Project |Brand Extension: Backpacks

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