Table of
CONTENTS 01
About Us
07
Our Story
02
The Company & The Brand
08
Our Team
03
Milestones
09
The Shop Concept
04
Mission & Vision
10
Marketing
11
KPI’s
05
06
Social Responsibility
Portfolio
About Us We Speak Beyond Fashion Fashion is one of the most influential forms of expression in our contemporary culture
Founded in Athens by Yannis K. Alexiou and sons
2003
The Company & The Brands Funky Buddha – being the flagship brand – is part of a portfolio of retail brands that are developed by our company ALTEX SA, based in Greece – Europe. ALTEX S.A. is a family-owned European fashion retailer that designs, produces and distributes fashion products with a distinctive character, standing clearly out from the crowd. Driven by passion, determination and intuition, the company creates clothes that are “canvasses of expression” and give consumers the ability to be themselves, feel good and stand out from the crowd. Garments of the highest quality, comfortable and highly affordable, that match each person, expressing his or her personality. The company’s portfolio consists of three brands: Funky Buddha, Garage Fifty Five & Second Skin offer dynamic, comfortable, uplifting and expressive lifestyle clothes for men and women, paying extreme attention to quality and details reflecting sheer enthusiasm, freedom of expression and a unique differentiation in style that all those who feel authentic, creative, daring and confident are looking for! Each fashion collection is an expression and a way of life for all of those who don’t just follow fashion but think of it as a mean of expression. This is one of the cornerstones of the company’s philosophy, inspiring both the company and the consumers alike. Each fashion collection is daring, influenced by music, arts & culture, intense feelings, travelling, love for the environment with a contemporary still classy look and feel, being part of a total “canvas” and a modern way of interaction and expression. Every season, the company designs clothes full of innovative ideas, by enriching the latest trends.
Milestones 2003 ALTEX S.A. is founded introducing FUNKY BUDDHA brand with a successful jacket collection
2005 The company acquires and moves into its new company-owned headquarters and invests in a new extended distribution center
2008 Two new brands, Fifty Five GARAGE Dry Goods & Supplies and SECOND SKIN are introduced to enrich the company's brand portfolio.
2013
2014
FUNKY BUDDHA opens up to retailing in Greece.
The basic cornerstones are set for ALTEX to become an international Retailer with new Retail locations and a proven international retail development strategy
2015-16 Retailing and international expansion is further enhanced through a dedicated reorganization of the company’s infrastructure. Shopping Experience is adopted as one of the new “beliefs” in ALTEX’ s Brand Philosophy
2017-18 The brand is launched in Germany choosing omnichannel retailing: The Wholesale network in Germany is rapidly developed. Well established marketplaces are the next big thing, like Zalando, Otto, About You, etc. which operate successfully in different European Countries, introducing the Brand to the European Customer. At the same time, the Balkan Expansion proceeds with a fast pace, offering Funky Buddha fashion to countries like Slovenia, Croatia, Serbia etc.
Mission & Vision
creative
vision
01 02 03 04 05 We are proud of our family. It is both our link to the past and the foundation of our future. ü Mission: To be one of the leading European OMNICHANNEL RETAILERS in the markets we operate in and to become a GLOBAL FASHION RETAILER. ü Vision: To always develop and market our brands in accordance to European fashion trends and to create a distinct mix of collections, which will appeal to the trends-aware 1645 age group. ü We always strive to meet each client’s unique set of needs and expectations by delivering a truly personalized experience on a professional basis. ü Our commitment to combining highly effective working practices with paradigm-busting creativity means the only thing we’ll always exceed are your expectations. ü We’re passionate about customers and consumers. Being proud of what we do, we act sensitively with the highest standards of integrity and social responsibility.
We base our cooperation on trust, partnership and honesty
passion
Social Responsibility
1
NATURAL ENVIRONMENT Showing respect to the natural environment in which we operate, and trying actively to contribute to the development of the respective communities, is a major goal in our Social Responsibility Policy.
2
ETHICAL FOUNDATION Our ethical foundation is based on corporate social responsibility. As a responsible business the company has adopted its role in the communities in which it operates.
3
ECOLOGY & QUALITY ALTEX commits to the principle of producing products harmless to the ecological environment. This includes, apart from a carefully selected choice of raw-material and fabrics, suppliers worldwide and the continuous control of crucial ecological parameters by independent and certified international laboratories and authority boards.
4
ENVIRONMENTAL PROTECTION Environmental protection and nature preservation as well as the responsible use of natural resources play an important role in all corporate decisions. As part of its environmental policy, ALTEX ensures that energy is used sparingly in all its divisions.
Brand Portfolio
Funky Buddha is Altex’s anchor brand, a symbol of our story, a point of difference in fashion marketplaces. Fashion is one of the most influential forms of expression in our contemporary culture. Serving as a mirror of our time, fashion is also regarded as a post-modern metaphor of what goes on in society.
Fifty Five GARAGE Dry Goods & Supplies is the signatureclothing brand for those who are fond of casualwear style. Rooted in the European culture and style, it embodies an innovative idea of menswear, enriched by a cosmopolitan attitude and looking at the fashion and life-style of the major international cities as a source of inspiration. Ever eager for fresh ideas, the brand’s contemporary design turns to a new generation of male consumers, who are aware of their own style and live casual fashion as a way to express themselves, their image and their vision of the World. The product design follows this “new man” through every moment of the day, giving him the chance to make his own stylistic choices, thanks to a true total look casual offer, a proper quality/price balance and an ever innovative suggestion.
Second Skin is a private Label Brand, offering cotton based athletic apparel for men and women, distributed in Greece by VETO S.A. Great quality and design at an affordable price are the key-points of this Brand. Products: shorts, hoodies, t-shirts, polos, shirts, pants, jackets, accessories
A global OMNICHANNEL fashion Retailer
01 The Idea Experience led us to transform the existing network of Funky Buddha stores according to the latest trends of international Retailing and CROSS BORDER ecommerce
The new concept had to be in-line with the philosophy of the brand but at the same time to give a maximum of shopping experience to all clients, both ON- and OFFLINE
Planning
02
03 Sketch Concept Designers and Fashion Specialists worked hand in hand to deliver a new, fresh and sophisticated concept housing all collections of the Brand under one roof
To communicate our Brand Philosophy to the customer and to become one of the leading Retailers was not only a dream, but a necessity in todays demanding fashion scene
Communicate
04
05 Ideas We incorporated all ideas from our fashion team and combined it with the experience of our managers to expand not only in our Home- Country, but also worldwide
The concept was tested and retested and after a thorough pilot phase, the Funky Buddha stores were ready to become a fashion milestone on the market
Create
06
07 Develop We seek to expand worldwide, having already a sound presence in Europe, developing the international Funky Buddha Network, ON- and OFF LINE
Our Team
Teamwork makes the Dream-Team
Work together for success Everyone that works here has a desire to create amazing user experiences. Being great at what you do is the cost of entry at ALTEX S.A., what tends to get people hired is fit. When talented people fit well together they produce some pretty impressive stuff. We always strive to put the right people with the right skills on the right projects. There are no pitch teams, no “B” teams. Everyone here works as part of the TEAM, directly with our clients and our business partners. It’s fun, as it should be. We spend so much of our life working that we’d best enjoy it.
The Funky Buddha Team The company employs more than 150 highly specialized, skilled & well trained staff and experienced managers, all of them dedicated to the continuous evolution of the men’s, women’s and kids’ fashion collections, the implementation of sophisticated marketing strategies and actions for promoting our brand, committed to total customers’ satisfaction. / Knowledge/Experience
Couture C
Retail Orientation facebook.com/funkybuddha twitter.com/@funkybuddha2 Instagram/funkybuddha_
E-Commerce Expertise Wholesale Orientation Marketing Orientation
Infrastructure During the last years the company invested in the modernization of its IT system (ERP – CRM – B2B – BI- software & hardware - Cloud). This gave ALTEX a substantial comparative advantage, raising the technological bar to the highest international standards. The IT Department of ALTEX is entirely responsible for the smooth and orderly operation of the EDP systems. The daily goal of the IT department is the optimum data management, provision of support and information to all its users worldwide, suppressing lead times, providing invaluable management information, minimizing effort and avoiding delays at all levels. IT supports tightly-knit collaboration among designers, store managers, market resources specialists, inventory control, production managers and technology production planners. A sophisticated Purchasing Technology is implemented to support all primary activities, while accurate demand planning maximizes profitability. All production, regardless of its origin, is received at the central 3PL logistics centers, from where it is distributed to all the stores or clients worldwide on a highly frequent and constant basis, achieving minimum delivery and lead times.
Awards • Funky Buddha is proud to be awarded the European Business Award 2014/15 as a National Champion. • Funky Buddha was awarded the Franchise Award 16 in recognition of its CONCEPT REDESIGN and an honor award in the Section RETAIL FRANCHISOR OF THE YEAR 2016. • The company was awarded the Franchise Award 17 in two categories, as BE SPOKEN FRANCHISOR and as the company with the BEST INTERNATIONAL EXPANSION. • Two Awards for BEST PRODUCT QUALITY and for the BEST GRAND OPENING EVENT in the Franchise Sector in 2018. • In addition to the above, the same year, Kostas Alexiou, the Managing Director of Altex S.A., was awarded the BEST FRANCHISE LEADER OF THE YEAR, while Panos Patronidis, Chief Commercial Officer of Altex S.A., was honored with the award of the BEST MANAGER OF THE YEAR.
Funky Buddha Story Funky Buddha brand was founded in 2003 through the passion and intuition of Alexiou family from Europe - Greece. What started off as a casual business trip for them, turned into an epic adventure through the highs and lows of the Far East. Seeking initially to research business opportunities, a delay at a local train station resulted in a major detour. They returned from it with crates and stories! The rising sun flag became the brand’s symbol and an inspiration for what has become a highly successful idea: to make great garments that suit every individual, reflect ones personality and make you feel cool at ease. The brand was launched during the summer of 2003 and its tees and cargo shorts became directly a hit, surpassing expectations and setting the standards for further expansion of the brand. In just a few years, with hard work and determination, and with the collection becoming richer and more complete the commercial success of the European fashion company took off. Funky Buddha has become - in a short period of time – an international fashion Retailer and the cult fashion brand for those who love to wear clothes inspired by values such as freedom, respect for the individual and respect for the environment.
Funky Buddha Product Philosophy Every season Funky Buddha creates wardrobes brimming with ideas, intune with the latest trends and inspired by its core values. Its products are of high quality, rich in detail, uplifting in attitude but also highly affordable. Conceded for the “Young�, dynamic individual, it targets men and woman who care about details and quality at competitive prices, who love the vintage style and always want to look and feel good while remaining themselves.
4
Collections Per Year
More than
1500
SKU’S per Year
55%
Men’s Fashion
45%
Women’s Fashion
Perceptual Map
High Price
Scotch & Soda Pepe Jeans
A&F
Zara Topshop Hollister Tom Tailor Jack & Jones
Low Quality
Aeropostale
H&M
Low Price
Pull&Bear
Tommy Hilfiger DENIM SuperDry
American Eagle
High Quality
Inspiring Retail Space
Inspiring Retail Space For more than a decade our talented team has brought our brands and our consumers together through innovative and inspiring retail store presentations. Because at its heart, great concepts are delivered by great people.
Interior Design Building A Better Concept
Shop in Shops ‌ Corners ‌ Department Stores Supporting different Distribution Channels was always part of our development strategy. Starting from the needs and demands of each market, we designed a dedicated concept to meet these needs. We internationally develop in parallel the Retail, Wholesale, S-i-S and e-commerce channels, being a true global OMNICHANNEL Retailer!
Marketing
Marketing The communication strategy of the company is one of the key drivers of success leading to the high recognition of the brand. Through an elaborated off line & online marketing, PR and communication plan, Funky Buddha is currently recognized as one of the leading fashion companies in Greece and a rising star on the European Market, holding always a privileged position in the media. TV, cinema, press, outdoor advertising, digital advertising, sponsorships and various public relations programs are selected with criteria associated with the target group, the position and the sustainable development of the company. Furthermore, various below the line activities are held, aiming to increase the traffic, the sales and the customers’ loyalty. All media are selected according to criteria that are entirely consistent with the profile and the philosophy of Funky Buddha, so as to always ensure the successful and accurate communication of the message that characterizes each campaign of the company.
Marketing / Visual Communication The choice of partners is a key issue for the company, and for this reason we cooperate with the most distinguished marketing specialists and fashion media in the field. Famous fashion photographers are always behind the camera to capture the fashion trends presented by top models. The final touch in the impeccable image of all the our marketing campaign is completed by notable partners who are responsible for the art direction, styling, make up and hair style and who embrace the philosophy of the company. Implementation: Lookbooks – Fashion catalogues – Press Web presence – Digital Marketing – Social Media & Online campaigns Promotional Tools – Visuals
Marketing/Sponsorships, PR events
Marketing/Booths
Marketing Tools
Packaging Packaging effectively communicates the brand identity and solidarity. The brand symbols are clearly depicted on all packing prints and accessories. The illustrations aim at making the packaging units desirable by the consumer to be kept for other uses and not be thrown away.
Basic KPI’s
The Turnover
Funky Buddha 2003
Start-up with a significant success
2005
Rapid development of the Brand
2010
2013
National Development & Retail Experience in ALL CHANNELS
Becoming a Global omnichannel Retailer – Launch of e-commerce
2016
25
Preparation of new brands and systematic wholesale development
Development of different shop concepts – SIS - Corners
2014
Yearly Turnover
2015
Focus on Global Expansion
20,5 20 17 15
15
10
10 7 5
5
3 1
Greece, Cyprus, Germany and major International e-Market Places in Europe
2017-18
0 2003
2005
2010
2014
2015 mil €
2016
2017
2018
Yearly Analysis
TYPICAL MONTHLY SALES DISTRIBUTION 18 16 14
IN THOUSAND €
12
Year 2017 Typical Sales Distribution of FUNKY BUDDHA over a fiscal year. Average Data used from all Funky Buddha POS across the Global Retail Network with whole Year operation.
10 8 6 4 2 0 Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Retail Network Analysis
The Network Network Ownership
14 6
14
14
2 30 2
27
29
22
22
2020
2021
25
24
15
4 10 2015
13
15
2016
2017 Company Operated
18
19
2018
2019
Franchised
e-commerce
NETWORK 2018 Points of Sale Worldwide Points of Sales across all Sales Channels (OMNI channel development)
European Origin with an international flair Greece: 42
All Sales Channels under one roof Multi-brand Portfolio Orientation leads to flexible store configurations allowing for maximum profitability and adaptation to local market conditions.
2 Serbia: 1 Cyprus: 4
Around The World Information Funky Buddha is aiming to expand worldwide with a network of concept stores as well as enhancing the network of local Agents & Distributers. The company leverages on the power of Franchising granting country licenses (Master Franchise Rights) as well as Area Development Rights.
IT
ED
KI
G
KR
O
M
E
D
1
D
N
IN
A
A
RL
N
U
ZE
EN
1
N
IT
ED
1
U
SW
IN
IA
1
SW
A
EN
1
SP
V
1
O
IA
3
SL
RB
IA
IA
D
Y
1
SE
N
SS
A
N
A
S
1
RU
M
LA
RW
D
1
PO
O
N
RO
1
LA
EG
O
1
N
ER
N
V
Whol esale
RO
H
TE
1
ET
N
SO
e-Marketplaces
N
O
A
1
KO
LI
1
A
E
Y
3
IT
N
EC
A
RE
M
CE
D
1
G
ER
N
N
RK
1
G
A
LA
A
S
1
FR
N
M
U
1
FI
EN
1
D
A
IK
TI
PR
A
BL
1
CY
O
PU
IA
1
CR
RE
SN
3
M
EZ
BO
3
CH
A
M
RI
IU
ST
LG
U
BE
A
Distribution Channels / Country COUNTRIES FUNKY BUDDHA IS BEING SOLD (9/2018) Retail
1
1
3
2 1 1
The Network
100, 4%
In Malls: 10 POS 1500m2
Shop Area Allocation in Shopping Centers - 2018
250, 11% 200, 9%
CORNER
950, 40%
OUTLETS COS FRANCHISED INTERNATIONAL
860, 36%
Price Positioning
The prices that have been set for our collection reflect the excellent quality, the innovative design and the extensive treatment of the items. Although the pricing of the Funky Buddha products may vary from one country to another, due to transport, customs and other local expenditures, the following list represents an average retail price (in €) for every item group for a given European MENS LADIES country. SS 18
RRP (EURO)
RRP (EURO)
FW17/18
In general, the target pricing is to remain within the medium to lower level of any ACCESSORIES ACCESSORIES 12,95-49,95 market’s pricing of similar5,95-39,95 products with a gradual shift to become even more BEACHWEAR 35,95-39,95 15,95-32,95 attractive than the “value for money” positioning with extremely BEACHWEAR competitive entry DENIM PANTS DENIM PANTS level pricing. 55,95-69,95 49,95-75,95 DENIM SHORTS
45,95-55,95
35,95-45,95
DENIM SHORTS
FOOTWEAR
15,95-69,95
12,95-65,95
FOOTWEAR
DRESS
JACKETS
JUMPSUITS KNITWEAR
POLO SHIRTS SHIRTS SKIRTS
SWEATPANTS
59,95-85,95 39,95
29,95-39,95 42,95-69,95
19,95-69,95 59,95-85,95 39,95-55,95 29,95-45,95 25,95-55,95 35,95-55,95 35,95
SWEATSHIRTS
35,95-55,95
35,95-49,95
T-SHIRT L/S
25,95-35,95
25,95
SWEATSHORTS T-SHIRT S/S
WOVEN PANTS
WOVEN SHORTS WOVEN TOPS
29,95-35,95
25,95
9,95-29,95
12,95-25,95
45,95-55,95
29,95-45,95
49,95-65,95
39,95-55,95 22,95-39,95
DRESS
JACKETS
MENS
RRP (EURO) 9,9-45,9
65,9-85,9
45,9-125,9
LADIES
RRP (EURO) 5,95-49,95 29,9-69,9 39,9
25,9-69,9 39,9-99,9
54,9-175,9
49,9-149,95
KNITWEAR
29,9-95,9
19,9-65,95
SHIRTS
39,9-59,9
25,9-45,95
JUMPSUITS POLO SHIRTS SKIRTS
SWEATPANTS
59,9-69,9
39,9-55,95
SWEATSHIRTS
37,9-59,9
45,9
29,95-39,95
T-SHIRT L/S
19,9-29,9
19,95-29,95
SWEATSHORTS T-SHIRT S/S
WOVEN PANTS
WOVEN SHORTS WOVEN TOPS
12,9-29,9
45,95-69,95
29,9-59,95 22,9
9,9-39,95
29,9-69,9
29,9-39,95
Product Mix MEN’S Collection Product – Sales Distribution SS 17 / Men’s Collection BEACHWEAR 4.10%
KNITWEAR 2.30% PANTS 12.60%
T-SHIRT 29.40%
SHIRTS 10.50% SWEATSHIRT 1.80% T-SHIRT L/S 0.60% JACKET 3.80%
SHORTS 28.90%
SHOES 5.50%
ACCESSORIES 0.50%
Product Mix MEN’S Collection Product – Sales Distribution FW 16-17 / Men’s Collection SHOES 4.40% SWEATSHIRT 15.60%
T-SHIRT 5.20%
T-SHIRT L/S 1.70% ACCESSORIES 4.80%
JACKET 21.80%
SHIRTS 8.20%
KNITWEAR 16.50%
PANTS 21.80%
Product Mix WOMAN’S Collection Product – Sales Distribution SS 17 / Woman’s Collection T-SHIRT L/S 1.18%
SHOES 9.22%
ACCESSORIES 7.95%
DRESS 9.13% JACKET 1.67%
PANTS 17.08%
JUMPSUITS 1.77% KNITWEAR 2.26% LINGERIE-UNDERWEAR 0.79%
SWEATSHIRT 1.67%
SHIRTS 5.40%
BEACHWEAR 1.77% SKIRTS 1.86%
SHORTS 13.64%
T-SHIRT 24.63%
Product Mix WOMAN’S Collection Product – Sales Distribution FW 16-17 / Woman’s Collection T-SHIRT L/S 4.82%
T-SHIRT 6.74%
ACCESSORIES 6.95%
DRESS 3.78% JACKET 15.62%
SWEATSHIRT 9.16% SHORTS 0.18%
JUMPSUITS 1.02%
SKIRTS 0.15% SHOES 4.44%
SHIRTS 6.87%
PANTS 19.19%
KNITWEAR 21.08%
The Numbers: e-commerce Number of Sessions / User: 1.45 Pages / Session: 4.75 Avg. Session Duration: 3:49 Lifetime Value (LTV): 0,40€ Avg. Order Value: 43.47€ Avg. Price / Item: 30.00€ Avg. Items / Order: 1,45 Avg. Conversion Rate: 0.68% Mobile Users: 50.16% Tablet Users: 6.49% Desktop Users: 43.45%
Demographics: e-commerce
Demographics: e-commerce
E-commerce in 2018
E-MARKET PLACES
Funky-buddha.gr Funkybuddha.de
2
Funky-buddha.sr
CUSTOMER DEMOGRAPHICS - RETAIL They like to travel, to meet new cultures and people. They follow the fashion trends but always adapt them to their unique style. They like to try new things and feel comfortable about themselves. They know how to dress according to each occasion – place - season. They seek and enjoy quality in their clothing and don’t compromise…
1,72 Avg UPT
Being loyal customers, they know that they will find the right products at the right price. As their budget gets smaller, they take great care on what to spend they money. They do not like to buy clothes, that are more expensive than the quality and style offered. Funky Buddha is a lifestyle they can afford.
41% Men
38,95€
59% Women
Avg Basket (VPT)
Men Women
2,92 Buying Frequency p. season
Men Women
Wholesale in 2018
More than 300 POS all over Europe
2
Contact Whether you have specific needs or just want to say hello, feel free to send us a message or give us a call.
ADDRESS 40 Grigoriou Lampraki Str., 14342, Nea Filadelfia, Athens, Greece
OFFICE +30 210 6615803-4
Send your inquires, advices and suggestion to: commercial@altex.gr
Facebook.com/funkybuddha Twitter.com/@funkybuddha2 Instagram/funkybuddha_
