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LUXE Clothing: Online Venture Essay
In today’s distressed economy, it is crucial for consumers to reduce spending while still maintaining their lifestyles. Not everyone is privileged to shop high-end brand names. LUXE Clothing is an affordable upscale e-commerce venture, which will provide re-sell men, women, and children’s clothing that has been brought or donated. LUXE clothing will provide quality clothing, and will sell house brand name items including an affordable line made of recycled fabric for men, women, and children.
LUXE Clothing will offer a unique subscription based option where customers are able to customize their selections for ready to wear pieces and accessories showcasing the LUXE Clothing house brand, and other brands for resell. LUXE Clothing will act as a thrift shop that sells quality high end name brands that benefit nonprofits, and the surrounding communities, by giving back to local shelters and charities.
According to research, “the fashion industry is an ever changing industry that changes from season to season, from year to year and also changes with people’s perception.” (Martins, 2013) For the fashion industry, this rapidly changing trend, can be good and bad for the industry, but will always be good for the company. Customers that are looking for the newest thing, or just clothing that will make them stand out will be able to at very affordable price and help others in the process.
LUXE Clothing is providing everyone the opportunity to wear high-end clothing at an extreme mark down. The prices will be 75% of what others would charge, but this is possible because the company will work close with consignment shops, Goodwill, and will provide clothing to local shelters. LUXE Clothing offers the best solution for people of all backgrounds and income to constantly be able to update their wardrobe each month. As their monthly subscription allows for new trends being available.
For each customers, the monthly subscription is optional, and provide a price where half will go to the non-profit side of the company that provides coats and blankets to the homeless shelters during the winter. The other option is for customers to make limitless purchases, where each item is always on sale, and house brands offered at a fraction of the price.
The primary goal is to open an online thrift shop, however, expansion plans include potentially franchising LUXE Clothing to a thrift shop/ retail store building a well-recognized brand name. In turn, the company would hope to infiltrate a sizeable percentage of the online retail market. LUXE Clothing will be following the merchant model that emphasize where the site will sell and resell merchandise to consumers. Since the company will operate online, it is considered a virtual merchant model. Since the products will be resold to the company or donate, “The merchant can directly reach end users and sell to them without needing wholesalers or retailers.” (Ius Mentis, 2005)
LUXE Clothing core business strategy is to combine charitable mission, and knowledgeable of the fashion industry with quality stylish merchandise. LUXE Clothing will provide affordable high-end, quality, clothing for those that want to dress to impress without having the need to spend a fortune. No longer will children have to feel inferior or be bullied for the quality of their clothing, they can now afford clothing of name brands without parents having to stress.
Women and Men can now afford name brand clothing, and quality clothing without having to spend their entire check. LUXE Clothing will provide an enjoyable shopping experience for customers. LUXE’s mission is to offer men, women, and children that are bombarded with labels each day, with a wide selection of fashionable, figure-flattering, affordable quality clothing. The company’s aim is to establish the company as a pioneer in this money and labeled obsessed industry, and build a brand name and e-commerce that will be available for every background.
LUXE Clothing will be able to appeal to men, women, and children all backgrounds and income brackets, because we offer a positive message and affordability that anyone can be fashionable without breaking the bank. One key feature that separates LUXE Clothing from all other local boutiques and other thrifts shops, is the commitment to providing all customers, affordable, stylish, and quality clothing options available at the tip of their fingers. Because the company’s primary concern will be ensuring their consumers are happy with their purchase, the company will provide products tailored to all shapes and sizes of men and women.
In addition, LUXE Clothing will make every effort to keep to the main mission of the company and keep prices affordable, while also making sure to give back to local charities. Further, LUXE Clothing will not just be a store that sells clothes, they will also donate to local charities, shelters, and will provide LUXE Clothing brand from recycled clothing that can be purchased at a remarkably modest price. Out of the gate, the goal is to implement a superior customer service system. Beyond the friendly reception and an inviting atmosphere, LUXE Clothing will also offer customers fashion information and advice. The trained personnel will provide counsel that men and women simply cannot find at other online clothing stores.
LUXE Clothing will be unique and innovative. The online store will provide services such as style Assessments, handmade and chosen styles, personal shopping, and special ordering, Style Concierges who are trained within the image industry will be available to customers on a daily basis.
As the company grows and earns a positive reputation within the nonprofit and fashion industry, the company will be open to several opportunities. Should LUXE Clothing choose to remain a small online, the company will develop and grow the company by increasing the up cycled clothing line to include up cycled sportswear, creative shoes, and swimwear. Within five, years, the company will assess the potential for expanding the company in select locations as brick and mortar storefronts. This will allow people to come in and donate, or offer to resell their clothing.
With the popularity of such shops as described in Forbes, “Even more dramatic has been the growth of online-only used clothing outlets, both those specializing in designer goods and those with a lower price point.” (Goffe, Jacobs, 2012) There might be several ethical issues raised with perpetuating the ideal that in order to fit in people must wear high end clothing. However, LUXE Clothing tries to counteract that attitude by allowing people to choose the clothing that suits them, without having to worry about the price tag.
Self-esteem issues are serious in teenagers and children, and this company will provide an opportunity to tackle the issue of children not being able to wear quality clothing because they belong to a certain income bracket. The proceeds of the subscription, and purchases will go to other nonprofit projects that will support the local communities, and provide clothing for the homeless population.
As like in any online venture, there is also inherent risks in which the company must prepare for. These risks include, online fraud, hackers, and data breaches that could effectively shut the website down. According to First Data, “the sustained growth of ecommerce continues to attract criminals who continuously develop new schemes to defraud merchants and their customers.” (First Data, 2012) Implementing strategies to block attacks can be costly for smaller merchants, and cybercriminals will be persistent in devising new methods in which to steal personal data, and to steal merchandise through unauthorized use of the information.
It is risky to rely on card verification techniques to evaluate the legitimacy of online purchases. “It is imperative that merchants realize that payment fraud is evolving every day, and relying on just one or two factors related to an e-commerce purchase is not dependable way to identify and stop unauthorized card use.” (First Data, 2012) As the business will operate as the non-profit organization it is vital that donors and other customers’ information be protected from cybercriminals that may infiltrate the system if the correct protection is not taking. These risks could turn away potential customers and donors, which could cost the company from generating revenue to help charities.
Strategies that can be implemented include better firewall protection, updated anti-virus protection, and technologies for preventing fraud activity. These technologies include automated transactional risk scoring, real-time categorizing and resolution, post-purchase transaction management, adjusting fraud rules and parameters, and address verification systems.
While the company would not have to be faced with problems of intellectual property rights, patents in the business model could become problematic, as Amazon holds a number of patents on their method of shopping and purchasing. These include online secure method for credit card data placing and method of one-click purchase. (Rappa, 2009) In order to negate any possible purchasing patents, the strategy of cross-licensing allows for parties to use the other patented technology if we were to work in separate markets. (Clark, 1999) However, if were to use purchase software that provides all the capabilities for the e-commerce such as Shopping Cart 1 or others, than that would not be a problem for the company.
There are several benefits to proceeding with this venture that include helping the local charities, the homeless population, and the customers that will utilize these services. LUXE Clothing aims to provide high-end and quality clothing for all people, regardless of their background. In the process, LUXE Clothing will put a new spend on online thrift shops, and provide a steady stream of donations for shelters and charities that are in dire need during the winter months. If the company is successful, it can branch out to brick and mortar stores, as well as create a new fashion line that emphasizes the importance on recycled or (up cycled) clothing. LUXE Clothing hopes to be the viable choice for everyone.
- Clark, Tim. (1999). Are e-commerce patents patently absurd? CNET. Retrieved from http://news.cnet.com/2100-1017-221259.html
- E-commerce business models. (2006). IUS Mentis. Retrieved from http://www.iusmentis.com/business/ecommerce/businessmodels/
- First Data. (2012). Strategies for Reducing the Risk of ecommerce Fraud. First Data. Retrieved from http://www.firstdata.com/downloads/thought-leadership/ecommfraudwp.pdf
- Goffe, Wendy S., Jacobs, Deborah L. (2012). Luxury For Less: New Web Sites And Shops Offer Gently Used Designer Goods. Forbes. Retrieved from http://www.forbes.com/sites/deborahljacobs/2012/11/23/luxury-for-less-new-web-sites-and-shops-offer-gently-used-designer-goods/
- Martin, Tony. (2013). How to Start a Fashion Business. Top Business Ideals. Retrieved from http://www.mytopbusinessideas.com/how-to-start-a-fashion-business/
- Rappa, Michael. (2009). Business Method Patents. Digital Enterprise. Retrieved from http://digitalenterprise.org/ip/patented_models.html
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