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AMSTERDAM FASHION INSTITUTE
Pinkie Purdue’s
or
Exploring the potential of a boutique
offering period specific lingerie
Final Thesis
Author
Mari Stenberg
Coaches
Mr. Joop Smit
Mr. Henny Jordaan
Amsterdam, 02-06-2009
I, Mari Stenberg, hereby declare that the work presented in this report is, to the best
of my knowledge, original and the result of my own research, except as
acknowledged, and has not been submitted to any other educational institute.
Mari Stenberg, 222760
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Preface
When deciding on a subject for my final thesis I wanted to ensure that I would have
a subject that was, obviously, relevant and realistic, but also something that would
inspire me throughout the period and that would enable me to use my creative and
conceptual skills. These are the skills that I hope to include in a future job, so I found it
important to have a thesis that could contribute, at least in a small way, to this future.
My personal interests that I am most passionate about are part of the culture of the
forties and fifties, the style and the glamour of those days inspires me greatly in what I
do in life. I am also fascinated by burlesque and pin-up art, as well as the different
music styles of the decades. In addition, the product group I find most interesting to
work with is lingerie, both vintage and contemporary.
Furthermore, I have come to conclude that it would suit me very well to own my own
business relating to these interests, especially seeing as the job opportunities in any of
these fields are quite limited. With my creative instinct and the knowledge I have
acquired at AMFI, as well as during my minor Entrepreneurship at the Hogeschool
voor Economische Studies (HES), I feel confident that I have the capacity of going
through with such an endeavour. Therefore, my chosen subject is:
Is there a demand for a faux vintage lingerie boutique in
Amsterdam, and does it have potential to be a profitable business?
To begin with, a definition of faux vintage lingerie is in order. These are not items that
have been previously worn, but items that are made by the use of original vintage
patterns, slightly altered if needed in order to fit the modern body. Furthermore, the
production process follows that of (in our case) the forties and fifties, and the textiles
used are mainly textiles that were also available and widely used in that time.
To answer the first part of the research question I have had to do research into the
lingerie market in Amsterdam, exploring what is offered at this point. This was an
interesting process, and one that confirmed that there was no concept similar to
what I wanted to develop. Furthermore, I conducted a survey in order to see if there
was a demand, and in that case what the key issues were for the potential
customers. I also kept a keen eye on movements within the culture and had informal
talks with women interested in the vintage style to have a well rounded view of what
was needed by the consumers. Lastly I did desk research on the lingerie market in
the Netherlands and in the EU, on the population in general, and on the economic
climate and the impact that might have on a starting business.
After concluding on there being a demand, I moved on to the concept of the
boutique. Many decisions are based on instinct and aesthetics, but are also
supported by input obtained from women during the process. I have been inspired
by movies from the thirties through fifties as well as books on burlesque, pin-ups,
lingerie and films. I found this to be the most interesting part of the process as I got to
immerse myself in the culture and educate myself further on this era.
In addition, I have done research on suppliers, concluding on the two I find have the
best offering both regarding quality and price, and we have had contact to discuss
terms. I have also looked into the regulations relating to business owners in the
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Netherlands as well as having to refresh my knowledge on finances and marketing in
order to make the strategy and predictions. The latter was the most strenuous as I am
more inspired by the creative process than the more theoretical aspects. However, I
am happy to have had a thesis including both fields, as I have improved on a
weakness while getting motivation from the more inspiring tasks.
As a total experience writing a thesis has been challenging and somewhat
intimidating, especially in the beginning when the process is not yet structured.
However, the process has also made me explore my professional goals and my
capabilities, finding my passion and the security of communicating my ideas to
others without fearing the feedback. The most challenging part has been to focus
my attention on the task, but as the picture of how the business would look like has
taken form the inspiration to write and to do further research has grown, too.
I would like to thank Joop Smit for important input that has lead me to do better
research, and also all the women that have given me priceless inspiration. I hope my
passion for the boutique – Pinkie Purdue’s - shines through and inspires you too!
Amsterdam, May 11th 2009,
Mari Stenberg
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Table of Contents
Executive Summary
p.
1. Introduction
8
2. Market Analysis
2.1.
2.2.
2.3.
2.4.
2.5.
9
Current market situation
Results questionnaire
Competitor Analysis
Total Market and Aspired Market Share
Conclusion
3. Concept
3.1.
3.2.
3.3.
3.4.
3.5.
15
15
16
16
19
22
Marketing Mix
Marketing Budget
Control
Implementation
22
27
27
28
5. Organisational Plan
5.1.
5.2.
5.3.
5.4.
5.5.
30
Legal Issues
The Shop
Wages
Suppliers
Delivery Plan
30
31
31
31
33
6. Financial Projections
6.1.
6.2.
6.3.
6.4.
6.5.
6.6.
9
11
11
13
14
15
Background
Mission
Company Description
Customer Analysis
Location and Lay-Out
4. Marketing Plan
4.1.
4.2.
4.3.
4.4.
6
35
Investment Plan
Income Statement
Balance Sheet
Ratios
VAT and Reporting
Exit Strategy
35
36
37
38
38
38
7. Goals and Future Plans
40
8. Conclusion
42
Sources
43
Appendices
A. Questionnaire
B. Results Questionnaire
C. Location
D. Registration Trade Register
E. Buying Plan, WKD
F. Buying Plan, KMD
G. Income Statement; Better Case Scenario
H. Income Statement; Worse Case Scenario
I. Cash Flow Statement
49
54
58
60
64
69
71
72
73
Extra: Product Booklet
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Executive
Executive Summary
Summary
Over the last few years Amsterdam has seen an increasing interest both in vintage
fashion and in events such as burlesque shows, rockabilly parties and clubs
emulating night clubs of the prohibition age. The burlesque scene, especially, has
grown rapidly over the last year due to the initiative of a small group. Now, you find
at least three different show concepts1 in Amsterdam, with audiences of all ages and
lifestyles, and this adds to the interest in vintage glamour.
For a woman wanting the look of the forties or fifties, when we saw the last revival of
burlesque and the golden days of the pin-up, shape wear and lingerie are crucial
elements of the styling as a whole. However, there are no retail concepts in
Amsterdam catering to the need of period specific lingerie and shape wear. The
offer of vintage inspired lingerie is restricted to contemporary products making use of
vintage inspired styling, but leaving out the properties needed to acquire a vintage
silhouette.
Pinkie Purdue’s aims to fill this gap in the market by supplying lingerie, shape wear,
corsets and hosiery based on vintage patterns, textiles and production methods in a
nostalgic and inspiring boutique in the centre of Amsterdam. The products will have
an excellent price/ quality ratio, with prices ranging from € 5 to € 55 for all products,
except the handmade corsets which will be priced between € 110 and € 170.
Focusing on carrying a wide range of sizes and styles, Pinkie Purdue’s wants to give
all women the opportunity to look and feel amazing without breaking the bank.
The products will initially be supplied by the English brands What Katie Did and Kiss
Me Deadly. Pinkie Purdue’s will be the only physical store supplying these brands in
the Netherlands. In addition, there is one national online store, as well as several
international stores, supplying some of the same products. However, the possibility of
trying the products on and getting educated help while still having the same or
lower prices than the online retailers give Pinkie Purdue’s a competitive edge.
Pinkie Purdue’s will mainly target two groups of customers, the lifestyle buyers who
look for pieces fitting their vintage lifestyle, and the contemporary buyers who are
either part of the increasing group of women looking for undergarments that correct
the silhouette, or women who simply want to find unique, fun and sexy items.
However, our choice of products will always be a reflection of what is demanded by
the lifestyle buyers.
In order to make this concept a reality an outside investment of € 50,000 is needed,
which will give the investor 25% stake in the company in return. The total investment
budget is € 84,433 and will mainly be used for equipment, starting inventory and
marketing. The marketing efforts will focus on social networks, presence at or
collaboration with suitable events such as Amsterdam Burlesque Carnival, some
advertising (including the distribution of flyers), and to kick it all off - a launch party. In
addition there will be a loyalty program as well as workshops and special promotions
throughout the year.
1 Burlesque Freakout, Burlesque-a-go-go and Royal Dutchess Burlesque
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Pinkie Purdue’s is aware of the difficult economic climate of today, and although this
decreases spending it also makes consumers even more aware of price/ quality
ratios, which is one of Pinkie Purdue’s’ strongest points! This, in addition to a need for
affordable glamour in times of economic hardship, can help shelter Pinkie Purdue’s
from some of the impact the economic downturn has on retail.
Taking a moderate outlook, Pinkie Purdue’s aims to have a turnover of € 144,580
(excl. btw) in the third year, which gives a profit of € 10,047. This translates to 0.02% of
the total market of ‘underwear, foundation wear, pantyhose, tights, socks and
stockings for women and girls’. From an investor’s point of view this moderate
prediction would provide an average yearly return on investment of 5.15% after a
five year period.
The author has a strong belief in the success of Pinkie Purdue’s. The aim is to be an
institution – not only the place to go for period specific lingerie, but also for
inspiration, for workshops, and for shows. This is achievable as long as we stay true to
our core values and continuously bring unique, inspiring products on the market
without ever losing sight of the needs of the customers!
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1. Introduction
This report was written in order to answer the questions ‘Is there a demand for a faux
vintage lingerie boutique in Amsterdam, and does it have potential to be a
profitable business?’. The greater aim was to explore if opening such a boutique
would be a feasible future plan for the author.
The preliminary research carried out consisted of looking at the lingerie market in
Amsterdam and the Netherlands in general, how much it is worth and which players
there are. The developments in the economy and population were also examined,
and, finally, a survey was carried out to map out the current lingerie habits of women
in Amsterdam and to discover any potential demand for faux vintage lingerie. More
about this can be found in chapter two.
It was concluded that there was, indeed, a gap in the market, and with help from
the conducted surveys, informal conversations with potential customers and an
exploration of the international market for faux vintage lingerie a concept was born;
Pinkie Purdue’s. Chapter three provides all information on this concept, along with
visual inspiration for a more complete picture.
In chapter four the marketing efforts will be thoroughly explained. The strategy was
defined drawing on personal experiences as well as seeking the help of professionals
in the marketing industry. The key point was ‘how to get maximum exposure on a
minimal budget.
To be able to run the business appropriately, research on the Dutch laws that govern
retail, entrepreneurship, labour and import was carried out. This was uplifting, as the
procedure of opening a business in the Netherlands is quite straight forward. Only a
few points needed mentioning and those can be found in chapter five. Here you will
also find a description of the suppliers along with the delivery plan.
Finally, the question still needing an answer was if a boutique selling faux vintage
lingerie could be a profitable business. In chapter six you can find the financial
projections which positively confirm the profitability of such a business, followed by
an if-all-fails exit strategy as well as goals for the future.
In the back of this report you will also find a booklet displaying all products that will
be present in the store on the opening day.
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2. Market Analysis
Is there room for Pinkie Purdue’s in the Amsterdam retail market? And what are the
key opportunities and pitfalls? This chapter comprises an analysis of the independent
research, the market in general and an overview of the competitors.
2.1 Current market situation
Economic development
Over the last years the inflation in the Netherlands has been kept low. It went from
4.1% in 2001 to 1.7% in 2005, mainly due to a slack labour market with minimum wage
increases and quite fierce price competition between retailers.2 In the period 20082012 the Dutch economy is expected to grow with 2.1 % in average.3
This expectation must be seen with critical eyes due to the economic crisis we are
currently in. Predictions are changed often, as efforts are being made around the
world to relieve the worst impacts of the crisis. However, one thing that seems to be
agreed upon is that there is still a long way to go before the economy will see a
positive trend, something that affects the retail sector negatively.4 This is also
reflected in the consumer confidence, which has decreased by 16 points from April
2008 to April 2009, and the outlook consumers have on buying power in the future,
which has decreased with 8 points in the same period (ill. I). Consequently
consumers look for bargains, added value, and a company they trust.
0
Apr. 08
Jul.08
Oct. 08
Jan. 09
Apr. 09
-5
-10
-15
-20
-25
-30
-35
-40
Consumer Confidence
Future Buying Power
Ill. I: Consumer confidence and buying power. Source: CBS
2 CBI Market Survey: The Bodywear Market in The Netherlands, 2008, p. 14.
https://intra.amfi.hva.nl/voorzieningen/mediatheek/orgrp/cbi_bodywear/2008_BW_Netherlands.pdf
4 Savilles. The Netherlands Retail Market, Autumn 2008, p. 3. http://www.savills.nl/dotcontrol/filemanagement
%5Cfiles% 5Cresearch/Dutch%20Retail%20Market%20-%20Autumn%2008%5B1%5D.pdf
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This trend of conscious spending is very likely to continue when the economy starts
growing again, as private economy needs to stabilise after the crisis and consumers
have become more sceptical to big companies. After the overwhelming spending in
the years prior to the crisis, the years after are likely to see less people spending
beyond their means and more need for value behind the products.5
Lingerie Consumption
Quality is probably the most important aspect for lingerie today. Although consumers
are price conscious they are focused on finding the best price/ quality ratio6, and this
is especially true in the mid price segment. Other important aspects in this segment
are the styling, the fit and the brand names themselves.7
It is also a bigger competition in the body wear market now than before as retailers
and manufacturers increasingly include body wear in their selection.8 Erotic themes
have also become more and more popular.9
In 2007 women bought on average 2.1 bras each, 75% of which were wired. When it
came to briefs; G-strings, hip-high styles and the waist styles were equal in
popularity.10 The average expenditure for bras were € 15.70, and for briefs € 3.20.11
The presence of retailers in the mid- and low price segment increasingly offering
underwear caused the average price to be low.
In 2007 imports of bras increased 25% and import of girdles and corsets increased,
too. The sale of sets (bra+panty) decreased, and so did the sale of corselettes.12
Population
Currently, around 12% of the population consists of girls in the age group 15 to 24.
These consumers tend to spend more on fashionable underwear and accessories.13
Approximately 18 % of the population is in the age 50-64, and they look for body
wear of high quality and that are supportive. Consumers in this age group are also
those who spend, on average, the biggest amount of money on body wear.14
In general the Dutch consumer is getting larger15. Currently 50% of the bras sold have
cup size D or bigger16, and the combination of a high cup size and a small under5 The Economist, 2009. “From buy, buy to bye-bye”.
6 CBI Market Survey: The Bodywear Market in The EU, 2008, p. 9.
https://intra.amfi.hva.nl/voorzieningen/mediatheek/orgrp/cbi_bodywear/2008_BW_1EU1.pdf
13 CBI Market Survey: The Bodywear Market in The Netherlands, 2008, p. 3-4.
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breast width is also increasing. Furthermore, the need to improve on your body
shape results in the popularity of correcting items, such as the push-up bra and briefs
with stomach correction.17
2.2 Results questionnaire
In appendix A and B you will find the questionnaire and the results of the
questionnaire passed out to women who live in or regularly visit Amsterdam. Here I
will give insight in the most important information drawn from this questionnaire.
Firstly, the most popular place to buy lingerie in Amsterdam is H&M and Hunkemöller,
and for hosiery H&M and Hema. When it comes to vintage inspired lingerie the few
names that were mentioned were Agent Provocateur, H&M and Hunkemöller. Some
recipients said it was easy to find vintage inspired lingerie in stores like H&M but this is
most likely caused by a different way of interpreting “vintage inspired” as you will not
find items using replicas of vintage patterns in these stores. The general consensus
was, however, that these items were difficult to find, and if found there could be
issues with sizing and pricing – it is often regarded as expensive. That was also what
was seen as the biggest challenges in shopping for these items; that it was too
expensive, too difficult to find a good fit as well as to find items where the design is
not too old fashioned.
The input given on the most important factors when shopping for vintage inspired
lingerie was (in no particular order) comfort, perfect fit, waist accentuation, rich
detailing, it being authentic with an edge, seductive and romantic. The most
important for the boutique itself was that it offered a broad range of sizes, showing
products that have a good price/ quality ratio with a feeling of exclusivity, in an
atmosphere closely linked to the products with professional staff providing advice,
fitting help and good service in general.
The questionnaire also shows that out of the 131 women who answered, 61 would
visit a shop specialising in faux vintage lingerie if it existed in Amsterdam, either to
shop or just to look. Furthermore, 33 of those women wear vintage inspired lingerie
regularly.
2.3 Competitor Analysis
The concept of vintage inspired lingerie is currently quite in fashion. However, the
products that are being sold use the inspiration mainly for prints and concept without
using the patterns from before. This is mainly due to the continuous efforts made in
developing patterns that suit the body optimally, and the patterns of today are a
great improvement on those of fifty or sixty years ago. Subsequently, there are only
indirect competitors to a boutique supplying lingerie based on patterns from the
forties and fifties, as none of the other retailers offer items which provide a vintage
silhouette. My competitors are mainly fashionable lingerie retailers, but also
(inter)national websites providing the same products as I do.
Below I will give an overview of the main competitors in Amsterdam and online.
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J.C. Creations
J.C. Creations is located in Baron G.A. Tindalstraat in Amsterdam. They are
specialised in corsets and have private production of those in the Netherlands. They
offer ready-to-wear or custom made corsets and cater both to private customers as
well as to theaters and other professional buyers. As one of the few corsetoriums in
Europe they have customers from the Netherlands as well as from all surrounding
countries, something that gives testimony to their high quality level.
The products they sell are underbust corsets, overbust corsets, suspender belts,
petticoats and accessories for these items. Their underbust corsets cost from € 195
and upwards, and their overbust corsets cost € 295 and upwards, which places them
in a higher price segment than Pinkie Purdue’s.
Paars Lingerie
Paars is situated in Spuistraat in Amsterdam and have an inviting atmosphere. They
sell elegant and sexy items that are often inspired by vintage fashion and glamour,
but without giving the silhouette. The prices are above the price point of Pinkie
Purdue’s; most bras are around or above € 200, and panties and suspender belts can
be above € 100. They do have one brand of shape wear, Rago Salon, and sell open
bottom girdles, waist cinchers and suspender belts with an average price of € 70.
Furthermore, Paars also sells corsets. The range is limited, they have four to five styles,
and the prices are between € 200 and € 400. The corsets are produced by J.C.
Creations which you will find more information about above. However, according to
employees they do not sell many corsets as their Dutch customers are more
interested in relaxed clothing and lingerie.
The concept of the store itself is very appealing. They have a big open space nicely
showing of the brands they sell (incl. D&G, La Perla, Christian Lacroix, Worth and
Chantal Thomass), and the interior has a classy and feminine feel. The staff is helpful,
and to get the whole picture of how you look in the lingerie there are high heeled
shoes and adjustable lighting in the fitting rooms, as well as robes if you need to go
out and look at other products. Small touches like these make the store very
competitive; however the price level places them in a different segment than Pinkie
Purdue’s.
Stout
Located in Berenstraat in Amsterdam this shop is a mix between an erotic shop and
a lingerie boutique. It has a classy look that appeals to women and sell different
kinds of lingerie and nightwear, as well as some hosiery. Most of the brands they sell
have a contemporary sexy and/ or feminine look, but they do have a few items that
are leaning more towards shape wear. However, the vintage silhouette is not really in
focus and the price level is quite high, with prices ranging between €80 and €300 for
different types of items.
What makes Stout more of a competitor is that they too have corsets by J.C.
Creations, but, like Paars, only carry a few styles with the price ranging from € 200 to €
400. They are not well exposed, hanging a bit out of view so it does not seem like the
biggest contributor to their revenue.
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While Stout may share my potential clientele, the competition will not be great as the
concept is focused on erotica in general and only shows hints of vintage inspiration.
Suzet Lingerie Shop, www.suzet.net
This is the biggest competitor in The Netherlands as they carry many of the brands
and products that Pinkie Purdue’s will carry and they are also in the same price
segment. However, it is an online shop bringing with it the difficulty of not being able
to try items on. To counter this they do offer a possibility of coming to their office in
Hoorn where they keep open for fittings for four hours a week, but this is, as the
author sees it, only a real option for those living in the surrounding area.
In April 2009 Pinkie Purdue’s was also made aware of a surprisingly similar online store
called Mioki Lingerie (www.mioki-lingerie.nl). The two stores share physical address
and product lines; however it is not communicated in any way on their websites that
they are the same business. Furthermore, the suppliers What Katie Did and Kiss Me
Deadly refer to Suzet as their only stockist in the Netherlands today. The author does
not know, at this point in time, whether or not they are connected in any way –
however the likelihood seems to be big.
What Katie Did, www.whatkatiedid.com
The website of our supplier is a competitor as they have an online store with the
possibility to ship to the Netherlands. More information about the brand can be
found in chapter 5.4.
The worry with a supplier being a competitor is that customers might try something on
at Pinkie Purdue’s and then purchase it online from the supplier. In order to prevent
this it is necessary to keep the prices very close to those of What Katie Did and
subsequently removing the benefit of buying online.
2.4 Total Market and Aspired Market Share
In 2007 the Netherlands held 920 shops for body wear18 and the total turnover was
€1,375 million at consumer prices. This is expected to grow to €1,450 million in 2009.19
The total consumption of the items which are interesting for me – underwear,
foundation wear, pantyhose, tights, socks and stockings for women and girls amounted to €709 million in 2007.
The market share of independent retailers in the total body wear market was 7%, or €
96.25 million.20
With a turnover of 144.580 in year 3, Pinkie Purdue’s aims to get 0,02% of the total
relevant market. This will not be taken from one specific competitor, but from
different chain stores and online stores where my customers used to look for similar
items.
18 Hoofdbedrijfschap Detailhandel. ‘Aantal Winkels’. http://www.hbd.nl/view.cfm?page_id=4043
19 19 CBI Market Survey: The Bodywear Market in The Netherlands, 2008, p. 1.
20 20 CBI Market Survey: The Bodywear Market in The Netherlands, 2008, p. 6.
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2.5 Conclusion
The SWOT analysis below narrows in on the key threats and opportunities as
described in this chapter. The strengths and weaknesses of Pinkie Purdue’s will be
elaborated on in the following chapter, but this overview gives a quick insight in how
the boutique will secure its place in the lingerie market in Amsterdam.
Opportunities
•
No other shops specialising in lingerie and shape wear based on vintage patterns
•
No other shops offering corsets for under € 170
•
Growing interest in and expansion of the burlesque scene
•
Higher demand for correction wear, especially in the older age group where you
find the highest disposable income
•
Economic crisis
Brings glamour back
Threats
•
Several other shops offering corsets, however at a higher price point
•
Dutch consumer’s need for comfortable clothing
•
Online stores selling the same products leading to customers using Pinkie Purdue’s
as a fitting room for those. However, this can be controlled by pricing.
•
Fluctuations in the exchange rate leading to more expensive products or lower
profit margin
•
Economic crisis
Lower disposable incomes
Strengths
•
One-of-a-kind boutique in Amsterdam
•
Unique, high quality products
•
Excellent price/ quality ratio
•
Knowledgeable staff who can provide first-rate help in creating an authentic look
•
Wide range of sizes, and corsets especially made for bigger busts
•
Corsets with a low price point
•
Convenient location
Weaknesses
•
No practical experience in lingerie retail
•
Small shop floor leads to a smaller collection
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3. Concept
Through the market research discussed in the previous chapter it became clear that
there is room for a boutique providing faux vintage lingerie in Amsterdam. Still, to
survive customers must be offered a unique experience, something worth returning
to. This chapter aims to explain how this will be done and who the experience will be
created for.
3.1 Background
Background
The idea for Pinkie Purdue’s was brought on by the revival of neo burlesque and the
increasing mainstream interest in vintage fashion. What was noticeable in
Amsterdam was that although there is a big group of women interested in the style
of the forties and fifties and there is an array of shops and events catering to this
interest, there was no shop offering the lingerie of that era. To be able to recreate
the genuine look of that time the foundation wear is a crucial aspect, so consumers
looking for this were forced to buy online with the complications that might bring
such as the difficulty of getting the right fit, the difficulty of judging quality, and the
waiting time.
3.2 Mission
Pinkie Purdue’s’ mission is … To be the place to visit for high quality, mid priced faux
vintage lingerie for women of all age groups. Customers will experience excellent
service from knowledgeable and inspiring staff that will help them create the desired
silhouette.
Ill. II
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3.3 Company Description
Pinkie Purdue’s aims to fill a gap in the market by introducing a collection of lingerie,
corsets and hosiery based on patterns and styles from the forties and fifties. An
excellent price/ quality ratio is of utmost importance, only second to the products
being actual reproductions using vintage patterns, or patterns that are adjusted but
still gives the correct silhouette. Other than the products, what differentiates Pinkie
Purdue’s from other lingerie shops is the knowledge the staff has of the fashion and
culture of the forties and fifties, and hence the service they can give to customers in
finding the correct products, not only for their body type but also for the authenticity
of their look.
The products that will be sold are, amongst others, bullet bras, waist cinchers,
suspender belts, frilly knickers, and seamed stockings, along with a wide assortment
of handmade, waist reducing corsets. Most of the products are made using not only
patterns from the forties or fifties, but also using fabrics and techniques most popular
back then. The prices for tops and bottoms will range between € 10 and € 40, shape
wear between € 30 and € 55, and you can acquire a beautiful corset spending
between € 110 and € 170 – which is unique in Amsterdam. Articles like hosiery, gloves
and accessories range between € 5 and € 30 depending on the exclusivity of the
product.
In addition to the above mentioned products Pinkie Purdue’s will provide limited
edition lingerie, relevant books, DVD’s and music, and other items that could be of
interest to the customers. The full collection with prices can be found in the buying
plan in appendices E and F, as well as in the product folder attached in the back of
this report.
Pinkie Purdue’s hopes to create a one-of-a-kind experience through offering unique
products for all women in a luxurious, warm and friendly atmosphere where the key
focus is on making the customer feel beautiful inside and out!
3.4 Customer Analysis
The future customers of Pinkie Purdue’s can be divided in two groups. One is the
lifestyle consumers - the women who want a vintage silhouette and that are
interested in and apply the culture of the forties and fifties to their daily lives. The
other is the contemporary consumers - the women who look for fun or sexy items for
special occasions or those who need supportive foundation wear in general.
I will try to give an impression of the typical customers, but it is difficult to define a
specific target group as individualism has such a strong presence in the
Netherlands21, and maybe in Amsterdam in particular.
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.
Ill. III
The lifestyle consumers are mostly distinguished by their look. They use make-up, hair
styles and vintage (inspired) clothing to show their taste, and, usually, this style goes
toward rockabilly, pin-up, or glamour. It is important for them to have knowledge
about the vintage styles and to use authentic products. Therefore they need less
information in the store, unless this is a newly discovered interest in which case Pinkie
Purdue’s needs to be able to supply them with true and in depth information. These
customers will expect to find proper period specific products giving the correct
silhouette, without a pronounced modern twist.
The women in this group will often be interested in music from those days - jazz,
rock’n roll, and blues to mention a few - and also in vintage design, films and fashion.
They often work in creative industries where they can apply these interests. It will be
important that the shop mirrors this, and gives them the feeling of walking into
another time – a time they often feel a stronger connection to conceptually than
that of today.
However, even though into vintage styles and culture, these are women living in 2009
with studies, jobs and social lives that are, in many aspects, more stressful than 60-70
years ago. Therefore, they do appreciate accessibility and “efficiency”, being able
to go to one store for several needs.
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Furthermore, they are women who take pride and effort in how they look and who
are willing to spend a little extra to gain the desired look. However, as for everyone
these are not the easiest of times, so the importance of high quality to a low price will
be strong.
As for the contemporary consumer, they too can be all age groups. It is expected
that this will be a mix of younger women looking for sexy products or products for a
special occasion, and slightly older women aiming more for shape wear to make
that new dress look spectacular. Of course, these groups will also be mixed.
The last group is especially interesting as Dutch people are in fact getting heavier22
and as there is a growing group of women over 50 who have a bigger disposable
income than other age groups.23 These women will either buy out of vanity or
because they have used similar items since they grew up in the forties or fifties. They
tend to be loyal customers when they find a shop they like and the products live up
to their expectations, and they want to be treated accordingly.
The women looking for a product for special occasions will usually look in several
shops before buying, depending on their disposable income. What is important for
them is that they will fit in where they are going without showing up with an identical
product as someone else. Therefore, offering unique products and having a steady
supply of new items is key so that they find something new with every visit. They too
will be loyal if they continue finding new, inspiring items in your shop, but are easy to
loose when something new catches their eye.
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3.5 Location and LayLay-Out
Pinkie Purdue’s will be located in the city centre of Amsterdam, and for the purpose
of giving the clearest vision possible on the strategy an example location has been
found at Singel 163. The style of the boutique aims to give inspiration and joy, and
attention is paid to high quality furniture and textiles to create a luxurious feel, while
detailing is fun and quirky to make the boutique more accessible.
The boutique will be 50 m2, with a storage space of 30 m2. The products will be
displayed on racks and shelves on the wall, on tables in the middle of the boutique
and by the cashier. Due to the small floor space all sizes will not necessarily be
displayed for each colorway, but it will be clearly communicated that the staff will
find the right size for you. There will be two fitting rooms spacious enough to fit the
corsets properly, and they will all be equipped with several mirrors, as well as robes.
There will be an area with relevant books and magazines for inspiration and a
jukebox with vintage music to set the mood. On the walls you will find inspiring
pictures of stars, pin-ups, and burlesque and vaudeville performers both of today
and the by-gone-eras, as well as old lingerie advertisements. An example of a
desired lay out is shown below.
In addition to the ranges of lingerie, hosiery and corsets, a space will be dedicated
to special items of interest. This can be books, purses, flowers, fans, tassels, and every
other (un)imaginable item. Pinkie Purdue’s will also offer space for any potential
amateur or professional designers of hats, fascinators, jewellery or other small items to
continuously have a fresh and varied collection.
The staff will have vintage styling, and it is important they are approachable and
knowledgeable both on lingerie in general as well as about forties and fifties culture
and fashion.
Floor plan (ill. IV)
A
B
C
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A - Left Wall (ill. V)
To the far left you find the window display and in the far right is the cashier desk with
a glass display for accessories. In the mahogany shelves to the left and right, shape
wear will be displayed, both hanging and folded on top, and in the 20 drawer shelf
in the middle there will be space for stockings – the drawers will be open in this case
– and for small items like suspenders and bra pads. On the tables in the middle, there
is space for bras and knickers. Additionally there are small shelves on the wall for
interesting products like fascinators.
B - Back Wall (ill. VI)
The cashier desk is seen again to the left, in front of the door to the storage area.
Between this and the fitting rooms to the right, you will find the seating area where
inspirational material will be displayed, and where the jukebox will be located.
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C - Right Wall (ill. VII)
This wall sees the entrance area to the far right, where you can see the alarm fixture
next to a rack for flyers and information. Further into the boutique, to the right in the
picture, the display for corsets is found, and next to that a wardrobe with corsets,
Vargas dresses (see product booklet) or other fitting items. Above the corset display
there are two long shelves for products like hats and fans. To the far left you will find
the two fitting rooms.
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4. Marketing Plan
Having established a concept and a place in the market, making our presence
known is the next step. Below you will find a complete impression of the marketing
efforts necessary, and through which Pinkie Purdue’s hopes to encourage word of
mouth advertising and securely building a loyal customer base.
4.1 Marketing
Marketing Mix
Product
Pinkie Purdue’s will offer its customers new, inspiring products with a good price/
quality ratio. The products sold will be lingerie, shape wear, corsets, hosiery, and
accessories to these products, as well as other small items that are either requested
by the customers, or that management sees as adding value to the products
already offered. All products, except for books and accessories, will be total or close
reproductions of products made in the 1940’s and 1950’s.
Price
The price of Pinkie Purdue’s’ products will range between € 5 for a pair of stockings to
€ 170 for a handcrafted corset. All prices are continuously reviewed to make sure
customers get the best price/ quality ratio possible in this market. Furthermore, as
many of the products will also be available online, the prices in the online market will
be examined regularly to make sure we stay competitive.
There will be a bi-annual sale, in July and January, as well as small sales throughout
the year if this is necessary for less popular products. In addition we will continuously
have promotions where you either get a small, and for us cheap to produce,
product for free with a purchase above € 50 or a discount on events we collaborate
with.
Promotion
As a starting company wanting to provide its customers with lower prices than
competitors, it is important to attract these customers without too high costs. Our
promotion efforts will always be based on this and our strategies are as follows;
Strategy #1: Location
The location of Pinkie Purdue’s in the centre of Amsterdam, close to several
important shopping areas and tourist hubs, will encourage traffic in the shop on its
own. This is of high importance when it comes to serving the tourist market as the
other promotion efforts are mostly local, and also in order to make our presence
known to those who are not necessarily in our target market.
The budget for the rent of the store will not be included in the marketing budget, as it
will fall under location expenses.
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Strategy #2: Website
Pinkie Purdue’s will have an informative website, with the concept, products,
location, and the possibility to contact the boutique for personal requests. It will show
new arrivals, upcoming events and give information on how to care for your
products. We will also have information and tips on how to get the correct silhouette
and styling as well as links to other shops or websites that are complementary to
Pinkie Purdue’s. The address is http://pinkiepurdues.blogspot.com/.
Ill. VIII
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Strategy #3: Social Networks
In addition to the official
website, Pinkie Purdue’s will
have pages at Facebook (ill.
IX, left), Hyves and MySpace.
These pages will be updated
as often as the website,
whenever something needs to
be communicated. Pages
such as these are important
as they are more interactive
than a website, and in
addition to us communicating
to our customers we can also
receive crucial information
and inspiration from them.
Another aspect is that it
provides a community for
vintage
enthusiasts
in
Amsterdam
which
can
strengthen
the
emotional
attachment to the brand.
Strategy #4: Launch Party
In order to make our presence known in the area and attract customers there will be
a launch party in and around the store. Personal invitations will be given to
prominent figures in the burlesque and rockabilly community and there will be flyers
spread out to and through friends, networks and the general public.
Models will show off our most interesting products, there will be champagne, cake
and goody bags, and to end the evening we will have live music as well as a
burlesque performer (or three).
Strategy #5: Loyalty Programs
It is important for Pinkie Purdue’s to know exactly what the customers want, so we will
have a small system tracking purchases and storing personal information acquired
from the customers. This will be used solely to send newsletters on upcoming events
and new products, and to assist while shopping as key sizing information will also be
stored. Furthermore, participants will be prioritised for workshops and other events.
As we are such a small company to start with, this will be done on a small scale, but
as we expand more attention will be focused on analysing the gathered data.
Strategy #6: Workshops
Workshops in period specific make-up, hair and styling, creating fascinators and
pasties etc. will be held on a regular basis, drawing on the talent of the staff and their
network. Customers will be charged a small amount, €10-40 depending on the
subject, to participate.
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Strategy #7: Events & Special Promotions
We look to collaborate with the burlesque community and will offer performers a few
items to try, to generate word of mouth advertising. We also aim to have a presence
at the Amsterdam Burlesque Carnival, as well as any other upcoming events, to
create a bigger network for further collaborations. Through this network special
promotions will be made, where, in example, customers of Pinkie Purdue’s get a
discount for events, and vice versa. The staff of Pinkie Purdue’s also has personal
connections to this community which could help to keep costs low.
Strategy #8: Advertising
Pinkie Purdue’s will advertise in the following publications and websites;
21st Century Pinups - www.pinup.me.uk
A former online magazine, now a
website,
stating
to
‘celebrate
everybody that strives to keep the era
of burlesque sensuality, cheesecake
glamour, vintage beauty and retro
style alive’ (Holli-Mae Johnson, Editorin-Chief)
Cost: € 75 / month for block
advertising.
Ill. X
nlstreets (www. nlstreets.nl)
A website showing the shopping streets
of the Netherlands. You can see the
front of shops in a specific street, and
then “look into” participating stores.
They have 70.000 unique visitors per
month, 74% of which are women.24
Cost: € 56 /month.
Ill. XI
24 Nlstreets. “Advertentieproposities en tarieven”. http://www.nlstreets.nl/pdf/specs_algemeen.pdf
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nl20
A free magazine delivered in Amsterdam, targeted to well educated, career
oriented twenty to forty year olds with a disposable income above average. The
advertisement will be in the column “Hotspots” every three months.
Cost: € 356 per advertisement.
In addition, flyers will be produced and displayed in relevant locations such as
complementary shops, bars and at events. This will be on a favour basis; Pinkie
Purdue’s will also display the other party’s flyers.
Physical distribution and place
Products are purchased from wholesalers in England and delivered through their
distribution systems to the boutique once a month. More details on this can be found
in chapter 5.4.
Pinkie Purdue’s is located in the city centre of Amsterdam, Singel 163, and is closely
situated to the Dam, Magna Plaza, the Nine Streets, and the Jordaan. This location is
less expensive than A locations in the surrounding area, but is still a very accessible
and trafficked area with several independent retailers.
In addition to the physical shop Pinkie Purdue’s will have a website where it will be
possible for customers far away to order specific items on an ad hoc basis. As of
now, there will be no online store, but we can be contacted and if possible, send the
items in question to the customer. In the future this service might be expanded,
depending on the popularity and feedback we get.
Packaging
As the main objective of the boutique is to sell faux vintage lingerie, the interior and
packaging must mirror this. A description of the interior can be found in chapter 3.4.
The products will be displayed on hangers on racks and on small tables. Additionally
we will have dolls to show of the products, both in the window display and in the
store itself.
The packaging of sold products will be done in tissue paper, unless otherwise
requested, and we will offer our clients handmade, branded shopping nets for € 3.
We will also have branded thin plastic bags.
Personnel
Service is one of the core values of Pinkie Purdue’s. Therefore it is of the utmost
importance the staff is educated and knowledgeable on the fashion, culture and
daily lives of the 1940’s and 1950’s as well as having some knowledge on the
decades before and after. The staff must also know fitting of corsets and lingerie,
and understand the female silhouette of both now and then, in order to help our
customers finding the best suited shape wear. Creativity is also greatly appreciated
in our staff, as customers might need help with styling, or creating accessories.
Positioning
Pinkie Purdue’s will position itself as the premier shop catering to women’s need for
shape wear as well as period specific lingerie. We will be in a niche market, and
focus greatly on presentation and service as ways to add value.
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Pinkie Purdue’s’ competitive edge is the price/ quality ratio – providing unique and
high quality products in the mid price range. Furthermore, the staff is one of the most
valuable assets of the boutique, and they will ensure that the customers get an
experience worth coming back for.
Pinkie Purdue’s recognizes that there are currently no stores like this in Amsterdam,
and will use that advantage to establish itself as the first of its kind in the Netherlands.
Our strength lies in the recognition, encouragement and subsequent serving of this
niche.
4.2 Marketing Budget
The initial marketing budget will be € 12,000, allocated in the following way;
NL20 Ad (5 runs)
Nlstreets participation (13 months)
21st Century Pinups ad (13 months)
Launch Party
Flyers (10,000)
Promotions
Workshops
Half Year Celebration
€ 1,780
€ 728
€ 975
€ 5,000
€ 210
€ 1,800
€ 1,007
€ 500
This budget will cover the predicted marketing costs for year one. However, each
marketing effort will be assessed regularly and changed if necessary, staying within
the same budget. After the first year, the projected marketing budget will be € 4000;
however this could change after reviewing the success rate of the different efforts.
4.3 Control
To monitor which campaigns are working, and which may not be, all customers will
be asked where they heard of Pinkie Purdue’s. Another simple yet important
measure is how many people sign up for the workshops. This will be complemented
with the opportunity for the customer to give feedback on attended workshops, as
well as suggest new topics.
Furthermore, the social networks will give important insight to our customers, and the
member count will give an indication as to name recognition and how popular
Pinkie Purdue’s is.
After half a year a survey will be carried out with the members of the loyalty program
and the social networks to get more specific feedback on the different marketing
efforts, as well as an overview of their habits.
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4.4 Implementation
Ads
Flyers
One
month
before
21CP
Nlstreets
NL20
X
Month
One
21CP
Nlstreets
NL20
X
Month
Two
21CP
Nlstreets
X
Month
Three
21CP
Nlstreets
X
Month
Four
X
Month
Five
21CP
Nlstreets
NL20
21CP
Nlstreets
Month
Six
21CP
Nlstreets
X
Month
Seven
21CP
Nlstreets
NL20
X
Month
Eight
21CP
Nlstreets
X
Fascinators
Newsletter – new
products
Month
Nine
21CP
Nlstreets
X
Month
Ten
21CP
Nlstreets
NL20
X
Organise
workshop
month 10
Pasties
Newsletter – new
products and next
workshop
Newsletter – new
products
Two
months
before
X
Promotion
Make
pasties and
shopping
nets
Free Pasties
with each
purchase
over €30.
Free
shopping
net to
everyone.
Workshop
Loyalty Programme
Other
Organise Launch Party.
Send out invitations.
Make system for
collected data.
Hand out flyers for launch
party.
Press release to major
Amsterdam newspapers
and magazines (Het
Parool, Het NRC, De
Volkskrant, Avant Garde,
Viva, Glamour and so on)
and television news
programs like RTL
Boulevard.
Launch Party.
Organise
workshop
month 2
Newsletter – info on
products and next
workshop
Make-up
Newsletter – new
products
Organise
workshop
month 4
Newsletter – new
products and next
workshop
Hair
Newsletter – new
products
Three for
Two, select
items
Sale (if
necessary)
Organise
workshop
month 6
Styling
One ticket to
a show* with
each
purchased
corset
Organise
workshop
month 8
Newsletter – new
products and next
workshop
Newsletter – new
products and Half
Year Celebration
invitation
Newsletter – new
products and next
workshop
One ticket to
a show* with
each
purchased
corset
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Survey; Where did you
hear about us?
Organise Half Year
Celebration.
hear about us?
Half year celebration –
Champagne, cake and
product launch after
hours
hear about us?
02-06-2009
Month
Eleven
21CP
Nlstreets
X
Month
Twelve
21CP
Nlstreets
X
One ticket to
a show* with
each
purchased
corset
Sale (if
Necessary)
Organise
workshop
month 12
Newsletter – new
products and next
workshop
Pin-Up
Styling and
Posing
Newsletter – new
products
hear about us?
* This depends on timing and partners, but it will be a show equal to Royal Dutchess
Burlesque or Burlesque Freakout.25
25 For details see: http://www.burlesquefreakout.com/
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5 Organisational Plan
Everything must be in order. Read on for the practical issues concerning the opening
and running of Pinkie Purdue’s.
5.1 Legal Issues
Ownership
Pinkie Purdue’s will be a sole proprietorship owned by Mari Stenberg. In this case
there is no difference between the company and the private person, and any debts
will be the liability of Mari Stenberg personally.26
Registering
Before the opening Pinkie Purdue’s must register with the Chamber of Commerce
and the Inland Revenue. Registration form for the Chamber of Commerce can be
found in appendix D. Furthermore, the brand name and logo will be registered as a
trademark with the Benelux Office for Intellectual Property. This makes the brand
protected in the Netherlands, Belgium and Luxembourg. All expenses will be covered
by the Renovation & Equipment budget.
Labour
An employment contract will be made with the part time help. This will cover job
description, length of the contract, working hours, wages, benefits, rules for absence,
working conditions, notice period, and a clause for professional secrecy. 27
Administration
All financial data (invoices, receipts, yearly tax returns etc.) will be stored for a
minimum of seven years.28 An accountant will be hired to ensure this is done in the
correct manner.
26 Kamer van Koophandel. “De eenmanszaak”.
http://www.kvk.nl/wettenenregels/110_Rechtsvormen/rechtsvormen/Deeenmanszaak.asp
27 Kamer van Koophandel. “Drawing up employment contracts”.
http://www.kvk.nl/english/startingabusiness/030_Paperwork/takingonstaff/Drawingupemploymentcontracts.asp
28 Kamer van Koophandel. “Administration”.
http://www.kvk.nl/english/startingabusiness/020_Checklist/administration/Administration.asp
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5.2 The Shop
M2
50 (retail space)
FTE
1.45
Contact Information
Address:
Phone no.:
E-mail:
Singel 163
1012 VK Amsterdam
0646724488
[email protected]
Opening Hours
Mon – Tue: Closed
Wed: 11.00-18.00
Thu: 12.00-21.00
Fri:
11.00-18.00
Sat: 9.30-18.00
Sun: 11.00-18.00
Working hours are as above with an additional half hour before and after. Mari
Stenberg will always be present in the shop, while a part time help will be there
Thursdays 16.30-21.30 and Saturdays and Sundays 12.00-18.30.
5.3 Wages
Mari Stenberg will take out a salary of € 10 per hour, limited to a 40 hour week. The
part time help will get € 9 per hour. The total monthly payroll expense will be € 2.660.
5.4 Suppliers
In the beginning Pinkie Purdue’s will supply products from What Katie Did (WKD) and
Kiss Me Deadly (KMD). Both are located in England and the import is therefore an
'Intra-Community acquisition of goods' with no restrictions or formalities needing to
be carried out.29 As business grows and the demand from customer becomes clearer
this could change. There will be a continuous focus on new brands and special
edition products in the market, and as long as the product and price fits the concept
of Pinkie Purdue’s it is an option.
Both WKD and KMD organises the shipping, including insurance, to Pinkie Purdue’s
Singel address.
29 Kamer van Koophandel. “Custom duties – import”.
http://www.kvk.nl/english/internationaltrade/001_For_companies_based_in_the_netherlands/howtoimportintothenetherlands/Cu
stomdutiesimport.asp
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What Katie Did was founded by Katie
Halford in 1999 as a wholesaler of
affordable stockings. In 2001 Halford, a
lingerie designer, started designing a
range of products to complement the
stockings, which she sold online and
through mail order. In 2005 she was
approached by Topshop for an order, and the business was officially set up. Two
years later, in October 2007, WKD opened their boutique off Portobello Road in
London.30
WKD’s products include lingerie, stockings, shape wear,
corsets and a few other complementary items. They are
made using patterns, fabrics and production methods
available in the 40s and 50s as far as that is possible. Every
year sees two collections which are sold online and through
shops around the world.31
The production takes place in India, in a factory they feel is
properly managed and that do follow the quite strict labour
laws of the country. This includes a working week of
maximum 48 hours, hourly wage, and a minimum age limit
of 18 years for employees as well as social securities.32
Ill. XII
Over the last year WKD has seen a growth in publicity, appearing in publications like
Vogue, Marie Claire and the Daily Mail, as well as having collaborations with TVshows and several UK-based events and festivals.33
More details can be found on their website; www.whatkatiedid.com
Ill. XIII - Sunday Times Style
Magazine
Ill. XIV – Vogue
30
What Katie Did. “About Us”. http://www.whatkatiedid.com/src/about_us.php
33
What Katie Did. “News & Gossip”. http://www.whatkatiedid.com/forum/b2evolution/blogs/
31
32
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Kiss Me Deadly is a wholesaler of lingerie,
shape wear and stockings for the femme
fatale. They started out making their popular
Van Doren suspender belt in 200634 and
slowly building up a range of lingerie. Now
they supply online and physical stores
around the globe.
The products of KMD are not all based on vintage patterns,
but focuses more on creating pieces that were used in the
40s and 50s with new patterns and fabrics. Still, the result is
strikingly period conscious and fulfils the demands of
customers looking for that vintage silhouette.
KMD has a strict policy on stores not undercutting each
other, and will stop supplies to anyone selling below their
RRP. They also control their online retailers to make sure they
fit the brand image.
More details can be
www.kissmedeadly.co.uk
found
on
their
website;
Ill. XV
5.5 Delivery Plan
The first order will be quite substantial in order to ensure a wide offering so that no
customers will go unserved in the crucial first months of the boutique. Pinkie Purdue’s
appreciates the fact that a big inventory also brings with it a higher risk, however
more weight is put on the positive impact it has as part of our strategy of excellent
customer service and feel this will help ensure customer loyalty from the very
beginning. In addition, this broad range will help narrow in on popular items and
colours.
The first order will be for six months and delivered one week before the opening. A
detailed buying plan can be found in appendix E and F, while the numbers below
will give an overview of the type and number of garments.
Item
Bras
Bottoms
Suspender Belts
Waist Reducing Items
Stockings
Misc.
Corsets
Total
No. of
styles
8
17
8
7
8
3
7
58
No. of
pieces
319
232
110
154
648
112
47
1177
34
Facebook. “Kiss Me Deadly – Info”.ttp://www.facebook.com/pages/Kiss-Me-Deadly/34025703603#/pages/Kiss-MeDeadly/34025703603?v=info&viewas=615955561
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The buying decisions were made based on the moderate sales forecast (see chapter
6 for details) and the sales will be closely monitored to see if it is higher or lower and
which styles are most popular. If sales are higher than expected, the buying budget
will be adjusted accordingly to serve this demand.
After the initial six months orders will be placed each month to renew stock,
according to sales the previous months.
Open To Buy
In addition to the items in the buying plan, there is a budget of € 500 for any other
items that can add value to the store. This budget will increase if seen as necessary,
or accordingly to any revenues exceeding the moderate prediction.
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6. Financial Projections
In this chapter you will find an overview of the projected financial status of Pinkie
Purdue’s. This is based on a moderate outlook, but you can find projections for a
more positive as well as negative future in appendix G and H. The balance sheet
and cash flow statement (appendix I) are based on the moderate, and most
realistic, outlook.
For an investor the average yearly return on investment after five years would be
5.15%.
The following assumptions are made throughout the financial projections:
Assumption 1: By the end of year one Pinkie Purdue’s will reach sales equal to the
average sales per m2 (€3.500 excl. BTW) in the body fashion industry.35
Assumption 2: The sales in the first year will be divided by the different quarters as
follows; sales of 10% in the first quarter; 20% in the second; 30% in the
third and 40% in the fourth.
Assumption 3: In the second year, sales will grow with 7% due to a difficult economic
climate but this percentage will grow to 15% in year three if we
assume that the economy is improving. To give an impression of
return on investment and future growth, year four and five are
included and expected to grow with 10 and 15 % respectively.
Assumption 4: The inflation is expected to be at 2.1% on average over the next three
years.36
6.1 Investment Plan
Pinkie Purdue’s is looking for an investment of € 50,000. This would buy a 25% stake in
the company and dividend would be paid every year, unless otherwise agreed.
Investment plan
Fixed assets:
Prepaid Rent
Renovation & Equipment
27,504
15,000
Total Fixed assets
42,504
Current Assets:
Inventory
Marketing
Cash
14,929
12,000
15,000
Total current assets
Total investments:
41,929
84,433
Financing plan
Total of investments
Equity
Accounts payable
Not financed
84,433
20,623
13,810
50,000
35 Hoofdbedrijfschap Detailhandel. ‘Omzetkengetallen’. http://www.hbd.nl/view.cfm?page_id=4035
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6.2 Income Statement
Statement
Q1
Sales excl. BTW
Cost of Goods Sold
Gross Profit
Q2
Q3
Q4
Total Year 1
Year 2
Year 3
Year 4
Year 5
11167
4791
6376
22334
9258
13076
33501
13724
19777
44668
18191
26477
111670
45964
65706
123136
50551
72586
144580
59128
85452
159039
65041
93998
182894
74797
108097
7587
394
150
6876
7587
394
150
6876
7587
394
150
6876
7587
394
550
6876
30348
1576
1000
27504
30985
1609
1100
28082
31636
1643
1200
28672
32300
1678
1225
29274
32979
1713
1251
29889
400
105
7153
0
400
23065
400
105
1449
0
400
17361
400
105
1949
1000
400
18861
400
105
1449
0
400
17761
1600
420
12000
1000
1600
77048
1634
429
4000
1021
1634
70494
1668
438
4000
1042
1668
71967
1703
447
4084
1064
1703
73478
1739
457
4170
1086
1739
75021
EBT
Tax (25.5%)
-16689
0
-4285
0
916
0
8716
0
-11342
0
2091
533
13485
3439
20519
5232
33076
8434
Net Profit/Loss
-16689
-4285
916
8716
-11342
1558
10047
15287
24641
390
2512
3822
6160
Wages *
Payroll
Accountant37
Rent
Gas, electricity, water, city
tax
Internet and phone
Marketing
Travel
Insurance**
Total Operating Expenses
Investor Dividend 25%
* Based on opening hours + 1 hour each day. Mari Stenberg – Wage: €10, Hours/ Month: 180. Part Time Help – Wage: €9, Hours/ Month: 81
** OHRA AOV – € 94.37 per month. General Insurances € 39 per month (Legal help - € 1.250.000, inventory - € 10.000, Cash - 2.500.)38
37 Higher Level. “Kosten Accountant/ Boekhouder - Egbert Punter, Strictly to the Point Administratie-consulenten”. http://www.higherlevel.nl/forum/index.php?board=16;action=display;threadid=8063
38 Verzekeringen ZZP. http://www.supergoedverzekerd.nl/verzekeringen-starters.php
6.3 Balance Sheet
Opening Balance Sheet Year 1
Assets
Current Assets
Cash
15000
Inventory
14929
Marketing
6000
Fixed Assets
Prepaid Rent
Equipment
27504
5000
Total
68433
Closing Balance Sheet Year 1
Assets
Current Assets
Cash
44281
Inventory
6318
Fixed Assets
Prepaid Rent
Equipment
Total
Total
62619
Total
OE
54623
Total
68433
Liabilities
Current Liabilities
Accounts Payable KMD
Accounts Payable WKD
2106
4212
OE
56301
Total
62619
Liabilities
Current Liabilities
Accounts Payable
4927
OE
58781
Total
63708
7168
4500
63708
Assets
Current Assets
Cash
50984
Inventory
8130
Fixed Assets
Prepaid Rent
Equipment
2370
5440
6000
7020
5000
Assets
Current Assets
Cash
44649
Inventory
7391
Fixed Assets
Prepaid Rent
Equipment
Liabilities
Current Liabilities
Accounts Payable KMD
Accounts Payable WKD
Acc. Payable, other
Liabilities
Current Liabilities
Accounts Payable
5420
OE
65013
Total
70433
7319
4000
70433
6.4 Ratios
For a quick impression on the financial stability of the company, some ratios are
included. It must be taken into consideration that Pinkie Purdue’s will not have any
long term liabilities.
Current Ratio
End Year 1
End Year 2
End Year 3
Return on Equity
50,599:6,318 = 8.01
52,040:4,927 = 10.56
59,114:5,420 = 10.91
Year 1
Year 2
Year 3
Quick Ratio
End Year 1
End Year 2
End Year 3
-11,342:56,301
1,558:58,781
10,047:65,013
=-0.20
= 0.03
= 0.15
Return on Investment
44,281:6,318 = 7.01
44,649:4,927 = 9.06
50,984:5,420 = 9.41
Year 1
Year 2
Year 3
-11,342:62,619
1,558:63,708
10,047:70,433
Debt-to-Equity Ratio
Profit on Sales
End Year 1
End Year 2
End Year 3
Year 1
Year 2
Year 3
Year 4
Year 5
6,318:56,301 = 0.11
4,927:58,781 = 0.08
5,420:65,013 = 0.08
-11,342:111,670
1,558:123,136
10,047:144,580
15,287:159,039
24,641:182894
=-0.18
= 0.02
= 0.14
= -0.10
= 0.01
= 0.07
= 0.10
= 0.13
Break Even Point
Profit Margin = 0.59
Year 1
Year 2
Year 3
130,589.83
119,481.36
121,977.97
10,882.49/ month
9,956.78/ month
10,164.83/ month
6.5 VAT and Reporting
Pinkie Purdue’s will hire an accountant to take care of all issues concerning VAT and
the reporting of results to the local authorities. It is seen as valuable for Pinkie Purdue’s
to do so both to save time and effort and, more importantly, to make sure everything
is dealt with in a legal and correct manner. The accountant will handle VAT once
every three months, and do the tax returns once a year.
6.6 Exit Strategy
Strategy
Pinkie Purdue’s understands the necessity of having a plan of action if sales show to
be lower than the break even point. If this is a problem we cannot get past, the
strategy we will pursue is retreating. We will need to close the store as soon as the
contract allows, as well as end the contract with the part time help. Until that point
Pinkie Purdue’s will be open a few hours a week. These hours will be based on our
experience as to which days have been the most profitable. When the rental
agreement ends, all products will be stored privately and sold online or through
private networks, to recover costs. The accountant will still be used to ensure the
legal aspects are taken care of.
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All marketing efforts will be discontinued; any outstanding bills will be paid or set up in
a payment plan in agreement with the creditor.
When the inventory and equipment is sold, or within a time frame agreed upon with
the investor, the total potential profit will be divided between the owners. If there is
inventory left the value of this will be added to the potential profit and, unless
otherwise agreed, be part of Mari Stenberg’s part of the total profit.
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7. Goals
Pinkie Purdue’s has the ambition to become the place to go for period specific
lingerie, but also for guidance on everything that comes with it – from music to styling
to crafts. In order for this to become reality it is important to ensure a stable price/
quality ratio in the products, to keep looking for new and interesting suppliers and
products, as well as to be able to supply women of all sizes. In addition to this it is of
great importance to stay educated on the culture and to make sure knowledge is
transferred between the different employees. Furthermore, being attentive to other
people who could contribute – both in the broader network as well as in the
customer base – will be valuable.
7.1 Goals
Conversion Rate
Ambition
50%
Acceptable
30%
Control
After two months the conversion rate will be checked monthly by having a manual
count for one week of that month.
Correction
If after one year the conversion rate is below 30%, or in the following years the
conversion rate stagnates at this point, a thorough investigation as to why this is must
be carried out. This will be done by sending out questionnaires to the members of the
mailing list and the social networks as well as in-store. The focus must be on what they
are and are not happy with, regarding products as well as the service and the
boutique itself. Changes will be made accordingly and an acceptable result should
be seen within four months.
Turnover
Ambition
€ 125,069 in the first year – as according to the better case scenario (appendix G).
Acceptable
€ 111,670 in the first year - as according to the moderate prediction (page 36).
Control
Each month in the first year and each quarter in the subsequent years the turnover
will be compared to the projected income statement. This will also be done with the
costs, in order to ensure the bottom line will be as predicted.
Correction
If the turnover is lower than the acceptable goal a thorough investigation as to why
this is must be carried out. Firstly, a review of the turnover of competitors and the
market in general is in order, to see if the initial projections still are valid. If they are, a
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questionnaire must be handed out in the same fashion as explained above, to see
what can be done in the boutique itself. Lastly, another look at pricing is necessary to
see if a cut or raise in price will have a positive impact on the turnover.
Returns
Ambition
0% - through thorough checks before products are displayed.
Acceptable
0.5%
Control
All returns must be noted down, including the reason for the return and how it was
solved. The number of returns must be compared to the number of sold items.
Correction
If the returns exceed 0.5% of the total sales, the first issue to look at is what items were
returned and why in order to see if there is a pattern. If there is, the products in
question must be reviewed and feedback must be given to the supplier. If there is
not a pattern it is important to look at each return, see what we could have done to
prevent it and act on that in the future.
Customer Satisfaction
Ambition
10
Acceptable
8
Control
With regular intervals, members of the mailing list and social networks will be asked to
grade our performance on a scale from 1 to 10. There will also be the opportunity for
customers to do this in-store.
Correction
If this number is below 8 after half a year, or if it stagnates on 8 in the subsequent
years, the same procedure is necessary as mentioned both for conversion rate and
turnover. It is highly important to get to the bottom of what Pinkie Purdue’s could do
to reach that 10.
For all issues concerning customer satisfaction, product lines, and service the social
networks will be reviewed daily to find any complaints, tips or positive feedback that
can contribute to the success of Pinkie Purdue’s.
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8. Conclusion
The purpose of this report was to explore the potential demand for a faux vintage
lingerie boutique in Amsterdam, as well as whether or not it could be a profitable
business.
After conducting the necessary research the findings proved that there is, in fact,
such a demand. Moreover, if run properly it does have potential for profitability for
both owner and investor(s).
The increasing interest in vintage fashion and culture is one factor contributing to this
demand. Furthermore, the growing demand for shape wear as the population gets
bigger also contributes to the interest in many of the products offered at Pinkie
Purdue’s. This will have a positive impact on the size of our customer base and also
spark word-of-mouth advertising outside the main target group.
However, there are several factors that are vital in achieving this success. Having a
unique product offering which stays true to the concept of using (adapted) vintage
patterns, delivering a first-rate price/ quality ratio, and having a personal service with
emphasis on knowledge of the female body and the forties and fifties culture are by
far the most important. In addition, keeping costs low in order to secure a good profit
margin will be key; this also makes for a more flexible OTB-budget which secures the
continuous supply of unique and new products.
Furthermore, using networks to start word-of-mouth advertising and create a buzz
around the boutique and the opening event itself is highly necessary so as to attract
customers on a limited marketing budget. Addressing customers already interested
in vintage style will be important, but also getting the word spread to customers
outside this group will be important in order to expand the customer base. Therefore,
it is necessary to advertise in main stream publications, parallel with the more
focused advertising in medias targeted to the community of vintage inspired
consumers.
Finally, due to the current high street trends with their obvious nostalgic references,
an opening within three months would be optimal. This would offer more potential for
free publicity in the press and the fashion industry in general. It is very likely that such
timing would attract customers who are more oriented towards contemporary
fashion, which in turn will create higher name recognition for Pinkie Purdue’s.
A quick opening would therefore have a positive effect on revenue, too, however,
even without this group of contemporary customers the boutique shows strong
potential of bringing in a very decent revenue. In year three a profit of € 10.047 is
expected, through the factors mentioned above as well as keeping the cost of
logistics and marketing to a minimum.
Pinkie Purdue’s will be a unique shopping experience in Amsterdam, contributing
further to the diversity in the city and complementing the already existing offering of
vintage fashion.
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MySpace – Jo. “Immodesty Blaize”. 06-05-2009. Available:
http://www.myspace.com/jossrocker
Néret, G., 2008, 1000 Dessous, A History of Lingerie, p. 59. Taschen, Cologne.
Overstock.com. “Angelina Antique Gold Mirror”. 12-05-2009. Available:
http://www.overstock.com/Home-Garden/Angelina-Antique-GoldMirror/3366139/product.html
The Making of A Pin-Up. “50s pin-up queen Bettie Page”. 06-05-2009.
Available: http://themakingofapin-up.blogspot.com/
Ill. X
21st Century Pinups. “Home”. 02-05-2009. Available: http://www.pinup.me.uk/
Ill. XI
nlstreets. “Amsterdam, Haarlemmerstraat”. 11-05-2009. Available:
http://www.nlstreets.nl/EN/shopping/amsterdam/haarlemmerstraat--43/
Funda. “Bedrijfsaanbod – Winkel”. 23-03-2009. Available:
http://www.fundainbusiness.nl/BedrijfsAanbod/Winkel/Detail/Print/?id=5d1117
ea-7966-4288-a0df-aa89ae873410&objecttype=DetailBogWinkel
Ill. XII What Katie Did. “L2007 CC09 Rayon Seamed Stockings”. 11-05-2009.
Available:
http://www.whatkatiedid.com/fes_php/fes_usr_sto_product_display.php? fes_
action=DisplayProduct&fes_prd_id=558&fes_uid=fes_49f81c7a2d0c5
Ill. XIII What Katie Did. “News & Gossip”. 20-04-2009. Available:
http://www.whatkatiedid.com/forum/b2evolution/blogs/
Ill. XIV What Katie Did. “News & Gossip”. 20-04-2009. Available:
http://www.whatkatiedid.com/forum/b2evolution/blogs/?blog=1&paged=2
Ill. XV Kiss Me Deadly. “Contact”. 11-05-2009. Available:
https://www.kissmedeadly.co.uk/contact.html
47/74
02-06-2009
Appendices
A.
Questionnaire
B.
Results Questionnaire
C.
Location
D.
Registration Trade Register
E.
Buying Plan, WKD
F.
Buying Plan, KMD
G.
Income Statement; Better Case Scenario
H.
Income Statement; Worse Case Scenario
I.
Cash Flow Statement
Extra: Product Booklet
48/74
02-06-2009
Appendix A. Questionnaire
The Lingerie Market in Amsterdam
With this questionnaire I aim to learn if there is a market for vintage inspired
lingerie in Amsterdam, and how that market is currently being served.
Vintage inspired lingerie means, in this case, that the products have used
(modified) vintage patterns and that the products help create a vintage
figure. Think of the bullet bra, foundation wear made to accentuate the
waist and seamed stockings used with suspender belts.
1.
How old are you?
0-14
15-19
20-24
25-29
30-34
35-39
40-49
50+
2.
3.
In which city do you live?
Are you
Female
Male
continue. . .
49/74
02-06-2009
4.
How would you define your personal style, in 3 words?
5.
Where do you usually buy your underwear/lingerie?
6.
Where do you usually buy your hosiery?
7.
Which of these items do you own and wear?
Bra
Bullet bra
Suspender belt
Girdle
Corselette
Waist cincher
Corset (waist reducing)
Seamed stockings
50/74
02-06-2009
8.
How much do you usually spend on the following items?
€1-9
€1019
€20Never
€30+
29
Bought
Hipster
Brief
Thong
Pantyhose
Seamed stockings
Stockings
9.
€1-14
€1529
€30Never
€45+
44
Bought
Bra
Bullet Bra
Corselette
Waist cincher
Girdle
Suspender belt
51/74
02-06-2009
10.
Are you interested in vintage inspired lingerie?
Yes, I wear it on a daily basis
Yes, but I only wear it for special occasions
Yes, but I never wear it
No
continue. . .
11.
If you own any vintage inspired lingerie, where do you usually buy
this? Do you find it easy or difficult to find/ buy?
12.
What do you find to be the most important features of vintage
inspired lingerie?
13.
What are the biggest challenges when shopping for vintage inspired
lingerie?
52/74
02-06-2009
14.
When shopping for vintage inspired lingerie, what can a shop offer
you to make it the best possible experience?
continue. . .
15.
If there was a shop in Amsterdam specialising in vintage inspired
lingerie, hosiery and corsets, would you visit it?
Yes, to buy
Yes, to look
No. Why not?
Finished!
53/74
02-06-2009
Appendix B. Results Questionnaire
Number of respondents: 152
How old are you?
0-14
15-19
#0, 0%
#24
16%
20-24
25-29
30-34
#88
#31
#3 2%
35-39
40-49
#1 1%
#0, 0%
#0, 0%
60%
21%
Are you
Female
Male
#131
#16 11%
89%
Which of these items do you own and wear?
Bra
Bullet bra
Suspender belt
#87
#7 4%
#10 6%
Girdle
Corselette
Waist cincher
Corset (waist reducing)
Seamed stockings
#8 5%
#16 9%
#3 2%
#12 7%
#27
16%
51%
Hipster
€1-9
€10-19
#54
#22
€20-29
€30+
Never Bought
#4 5%
#2 2%
#4 5%
63%
26%
Brief
€1-9
€10-19
#41
#12
€20-29
€30+
Never Bought
n/a
#3 4%
#1 1%
#18
22%
#8 10%
54/74
49%
14%
02-06-2009
Thong
€1-9
€10-19
€20-29
€30+
#61
#16
#3 3%
#2 2%
Never Bought
n/a
#3 3%
#1 1%
71%
19%
Pantyhose
€1-9
€10-19
#43
#30
€20-29
€30+
Never Bought
#4 5%
#0, 0%
#4 5%
#3 4%
n/a
51%
36%
Seamed stockings
€1-9
#7
9%
€10-19
€20-29
#31
#7 9%
€30+
Never Bought
n/a
#1 1%
#32
#4 5%
38%
39%
Stockings
€1-9
€10-19
#27
#36
32%
€20-29
€30+
Never Bought
#5 6%
#1 1%
#12 14%
n/a
#4 5%
42%
Bra
€1-14
#12
€15-29
€30-44
€45+
Never Bought
#50
#13
14%
59%
15%
#10 12%
#0, 0%
55/74
02-06-2009
Bullet Bra
€1-14
€15-29
€30-44
€45+
#0, 0%
#9 11%
#3 4%
#2 2%
Never Bought
n/a
#62
#6 7%
76%
Corselette
€1-14
€15-29
#0, 0%
#7 9%
€30-44
€45+
Never Bought
#5 6%
#6 8%
#58
#4 5%
n/a
73%
Waist cincher
€1-14
#0, 0%
€15-29
€30-44
#2 3%
#3 4%
€45+
Never Bought
n/a
#1 1%
#68
#5 6%
86%
Girdle
€1-14
€15-29
#2 3%
#4 5%
€30-44
€45+
Never Bought
#1 1%
#0, 0%
#66
n/a
#5 6%
85%
Suspender belt
€1-14
#1 1%
€15-29
€30-44
€45+
Never Bought
n/a
#8 10%
#0, 0%
#0, 0%
#65
#5 6%
56/74
82%
02-06-2009
Are you interested in vintage inspired lingerie?
Yes, I wear it on a daily basis
Yes, but I only wear it for special
occasions
Yes, but I never wear it
No
#4 5%
#29
34%
#30
#23
35%
27%
If there was a shop in Amsterdam specialising in vintage inspired lingerie,
hosiery and corsets, would you visit it?
Yes, to buy
Yes, to look
No. Why not?
#17
#44
#12
57/74
23%
60%
16%
02-06-2009
Appendix C.
C. Location
Location
All information and illustrations are taken from the website of Funda, and translated
to English.
Address
Singel 163 huis
1012 VK Amsterdam
Price
€ 2.292 /month
Description
Retail space in a top location with approx. 50m 2 retail space and 30m 2 storage
space. Directly vis-à-vis terraces of the known café’s on the corner of Singel/Oude
Leliestraat and Torenstraat and next to café Zeezicht. The property has recently been
renovated and contains a WC. There is no kitchen or kitchenette. Also suitable as a
studio, office or small practice.
Map
= Location
58/74
02-06-2009
Photo’s
59/74
02-06-2009
Appendix D. Registration Trade Register, Example
60/74
02-06-2009
61/74
02-06-2009
62/74
02-06-2009
63/74
02-06-2009
Appendix E. Buying Plan WKD
Item
Sizes
Colour
Ways
Price
ex
VAT
Net
rrp
inc
VAT
Order Quantity
Colour
Lily Deep
Knickers
36-44
Lily
Suspender
Belt
36-44
Lily Waist
Cincher
36-44
Glamour
Waist
Cincher
36-44
Glamour
Girdle
36-44
Glamour
Underbust
Girdle
Harlow
Narrow
Suspender
Belt
Harlow
French
Knickers
Harlow
Deep
Knickers
Harlow
Sheer
Thong
Maitresse
Suspender
Belt
36-44
36-44
36-44
36-44
36-42
36-44
1Black/Nude
Lace
1Black/Nude
Lace
1Black/Nude
Lace
Black Peach
13.40
15.10
18.70
15.10
Black Peach
13.40
Black
15.10
Vintage
Peach
10.00
Vintage
Peach
11.40
Peach
9.40
Vintage
Peach
4.50
Black –
White
10.00
40.00
45
55.50
45.00
30.00
34.00
28.00
13.50
30.00
38
40
42
44
Total
1
2
2
2
1
8
107.20
1
2
2
2
1
8
120.80
1
2
2
2
1
8
149.60
B
1
2
2
2
1
8
120.80
Pe
1
2
2
2
1
8
120.80
B
1
2
2
2
1
8
107.20
Pe
1
2
2
2
1
8
107.20
1
2
2
2
1
8
120.80
1
2
2
2
1
8
80.00
2
2
2
2
2
10
114.00
2
2
2
2
2
10
94.00
2
2
2
2
n/a
8
36.00
1
2
2
2
1
8
80.00
1
2
2
2
1
8
80.00
2
2
2
n/a
n/a
6
27.00
B
2
2
2
2
2
10
74.00
P
2
2
2
2
2
10
74.00
S
S/M
M
M/L
L
Total
Cost
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
B
W
Maitresse
Thong
36-40
Black
4.50
13.50
Striptease
French
Knickers
36-44
Black Peach
7.40
22.00
Frilly
Knickers
36
45.00
40.00
S-L
Red –
White –
Baby Pink
–
Black
5.37
16.00
Cost
n/a
R
2
n/a
2
n/a
2
6
32.22
W
3
n/a
3
n/a
3
9
48.33
BP
2
n/a
2
n/a
2
6
32.22
B
3
n/a
3
n/a
3
9
48.33
Gypsy
Rose
Bralette
Striptease
Ballet
Knickers
S-L
Peach –
Claret –
Black –
Rose –
Purple
7.40
22.00
S/MM/L
Peach Black
9.75
29.00
Sally
Knickers
S/MM/L
Claret –
Black –
Purple
7.40
22.00
Gypsy
Rose
Knickers
S/MM/L
Peach –
Claret –
Black –
Rose
6.40
19.00
Pe
C
B
R
Pu
2
2
2
2
2
n/a
n/a
n/a
n/a
n/a
2
2
2
2
2
n/a
n/a
n/a
n/a
n/a
2
2
2
2
2
6
6
6
6
6
44.40
44.40
44.40
44.40
44.40
P
n/a
6
n/a
6
n/a
12
117.00
B
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
2
2
2
2
3
3
3
3
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
2
2
2
2
3
3
3
3
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
4
4
4
4
6
6
6
6
39.00
29.60
29.60
29.60
38.40
38.40
38.40
38.40
70
75
80
85
90
Total
Cost
8
12
12
12
44
739.20
8
10
8
6
32
537.60
7
8
7
7
6
35
350.00
B
7
8
7
7
6
35
350.00
W
7
8
7
7
6
35
350.00
C
B
Pu
Pe
C
B
R
Cup size divided per band size, see below for distribution
170BLily Bra
Black/Nude 16.80 50.00
n/a
85DD
Lace
70BGlamour
75DD
Peach
16.80 50.00
n/a
Bustier
80B85D
Harlow
Bullet Bra
Maitresse
Bullet
Bra
Seamed
Tulle
Tights
Tulle
Seamed
Stockings
Retro
Seamed
Stockings
Cuban
Heel
15 Denier
Contrast
Seamed
Stockings
Point Heel
70B85E/DD
+ 85F
Vintage
Peach
10.00
70A90F
Black –
White
10.00
One
Size
Black
One
Size
Black
S/M
(5ft15t7) &
M/L
(5ft55ft11)
S-XL
3.20
3.20
30.00
n/a
30.00
9.50
Black w/
nude
Black w/
red
Pink w/
black
Nude w/
royal blue
1.70
Cost
30
96.00
30
Total
100
96.00
Cost
170.00
100
Total
170.00
Cost
n/a
9.50
n/a
B
Black –
Nude
Total
5 (set
of 3 –
11)
S/M
50
M/L
50
50
N
Bn
S
M
L
50
XL
2
4
4
4
14
60.90
3
5
5
5
18
78.30
2
4
4
4
14
60.90
3
5
5
5
18
78.30
Br
4.35
13.00
Pb
Nrb
65/74
02-06-2009
Fully
Fashioned
Stockings
(Full
Contrast)
Fully
Fashioned
Stockings
(Manhattan
Heel)
Fully
Fashioned
Stockings
(Point
Heel)
Fully
Fashioned
Stockings
(Cuban
Heel)
S-XL
(4ft to
6ft+)
S-XL
(4ft to
6ft+)
S-XL
(4ft to
6ft+)
S-XL
(4ft
to 6ft+)
Nude w/
black
Black
Black Nude
8.00
8.00
n/a
24.00
24.00
20
20
15
70
560.00
5
10
10
5
30
240.00
7
12
12
7
38
254.60
n/a
B
6.70
15
20.00
N
Black –
Nude –
Chocolate Copper w/
black seam
6.70
10
15
15
10
50
335.00
B
7
12
12
7
38
254.60
N
7
12
12
7
38
254.60
Ch
5
10
10
5
30
201.00
Cob
5
10
10
5
30
201.00
20.00
Total All Items
1083
66/74
02-06-2009
7832.90
Corsets will be ordered in an assortment of colours
Black, Red,
Pink,
Cornflower,
18-30
Purple,
inch
Laurie Corset
57.15
laced
Forest
tight
Green, Royal
Blue, Peach,
Cream
Black, Red,
Pink,
Cornflower,
20-34
Purple,
inch
Dolly Corset
47.00
laced
Forest
tight
Green, Royal
Blue, Peach,
Cream
Black, Red,
Pink,
Cornflower,
18-34
inch
Purple,
Mae Corset
45.00
laced
Forest
tight
Green, Royal
Blue, Peach,
Cream
18-30
Claret, Ivory,
inch
Raw Silk Morticia
Bubblegum
52.80
Corset
laced
Pink, Black
tight
20-30
Cherry
Orient Sophia
inch
Blossom
47.00
Corset
laced
Red, Orient
tight
Black
20-30
Music Hall Sophia
inch
White (for
37.65
Corset
laced
customising)
tight
18
20
22
24
26
28
2
1
1
1
1
1
1
1
1
1
2
1
1
1
1
1
2
1
1
1
1
30
32
34
Total
Cost
170.00
7
400.05
2
8
376.00
2
9
405.00
1
8
422.40
1
3
141.00
1
6
225.90
140.00
134.00
157.00
2
1
140.00
1
1
112.00
1
1
1
1
1
Music Hall Mae
Corset
20-30
inch
laced
tight
White (for
customising)
45.35
135.00
Total Per Size
4
Detachable
Suspenders
One Size
Black - White
0.65
2.00
Bullet Bra Pads
One Size
Black, White
1.85
5.50
1
1
1
1
1
1
4
6
6
7
6
6
4
4
Bra Sizes, Order Overview
A
B
3
2
1
3
3
2
1
1
C
2
3
3
2
2
D
2
2
3
3
3
DD
1
2
3
3
3
E
3
3
F
2
3
68/74
272.10
47
2242.45
60
39.00
74.00
40
Total Cost Order
70
75
80
85
90
6
02-06-2009
10188.35
Appendix F. Buying Plan, KMD
Item
Sizes
Colourways
Price
ex
VAT
Net
rrp
inc
VAT
Delacroix Silk
Bralet
S-XL
Black –
White
10.20
30.00
Delacroix Silk
Suspender Belt
S-XL
Black –
White
10.80
32.00
Delacroix Silk
Small Brief
S-XL
Delacroix Silk
French Knicker
2
2
3
3
3
3
2
2
10
10
102.00
102.00
B
1
2
2
1
6
64.80
W
1
2
2
1
6
64.80
B
3
4
4
3
14
98.00
W
3
4
4
3
14
98.00
B
1
2
2
1
6
61.20
W
1
1
1
2
2
2
2
2
2
1
1
1
6
6
6
61.20
108.00
108.00
2
2
3
3
3
3
2
2
10
10
110.00
110.00
2
2
3
3
3
3
2
2
10
10
136.00
136.00
3
4
4
3
14
60.20
2
3
3
2
10
50.00
2
3
3
2
10
44.00
2
3
3
2
10
65.00
2
3
3
2
10
59.50
2
3
3
2
10
121.00
3
4
4
3
14
259.00
2
3
1
1
3
4
2
2
3
4
2
2
2
3
1
1
10
14
6
6
100.00
140.00
76.20
76.20
7.00
S-XL
Black –
White
10.20
Delacroix Silk
Camisole
S-XL
Black –
White
18.00
53.50
Van Doren Belt 6
Strap
S-XL
Black –
White
11.00
29.90
Van Doren Lace
Overlay
S-XL
Black –
White
13.60
35.50
Van Doren Pin
Up Brief
S-XL
Black
4.30
13.00
n/a
S-XL
Black
5.00
15.00
n/a
S-XL
Black
4.40
13.00
n/a
6.50
19.00
n/a
Van Doren Brief
Van Doren
Thong
Alouette Brief
Alouette Thong
S-XL
S-XL
Alouette
Suspender Belt
S-XL
Alouette Cincher
S-XL
Vargas Roll On
Girdle
Vargas Longline
Girdle
Golden
Sand
w/black lace
Golden
Sand
w/black lace
Golden
Sand
w/black lace
Golden
Sand
w/black lace
5.95
12.10
18.50
30.50
17.50
35.00
54.90
S-XL
Black –
White
10.00
29.90
S-XL
Black –
White
12.70
38.00
Cost
S
Black –
White
21.00
Order Quantity
M
L
XL
Colour
B
W
B
W
B
W
B
W
Total
n/a
n/a
n/a
B
W
B
W
Cup size divided per band size, see below for distribution
Van Doren
Bra
70, 75,
80 B-DD,
85 C-DD
Black
Alouette
Plunge Bra
70 & 75
A–E, 80
B–E, 85
& 90 C–E
Golden
Sand
w/black lace
70, 75 &
80 B-DD,
85 C-DD
Black –
Black
& Red White
Vargas Dress
10.00
13.00
18.00
29.90
38.00
52.50
70
75
80
85
8
10
11
8
10
11
11
10
8
10
10
8
10
10
90
Total
n/a
37
370.00
51
663.00
8
36
648.00
8
36
648.00
n/a
B
W
Total No. of Items/ Costs
9
398
Bra Sizes, Order Overview
70
75
80
85
90
A
3
2
1
B
3
3
2
1
1
C
2
3
3
2
2
D
2
2
3
3
3
DD
1
2
3
3
3
70/74
Cost
E
1
1
2
3
3
F
2
3
02-06-2009
4740.10
Appendix G. Income Statement;
Statement; Better Case Scenario
Total
Year 1
Q1
Q2
Q3
Q4
13400
5749
7651
26800
11109
15691
40201
16469
23732
44668
18191
26477
125069
51518
73551
137912
56461
81451
161929
66068
95861
178122
72674
105447
204840
83575
121265
7587
394
150
6876
7587
394
150
6876
7587
394
150
6876
7587
394
550
6876
30348
1576
1000
27504
30985
1609
1100
28082
31636
1643
1200
28672
32300
1678
1225
29274
32979
1713
1251
29889
400
105
7153
0
400
23065
400
105
1449
0
400
17361
400
105
1949
1000
400
18861
400
105
1449
0
400
17761
1600
420
12000
1000
1600
77048
1634
429
4000
1021
1634
70494
1668
438
4000
1042
1668
71967
1703
447
4084
1064
1703
73478
1739
457
4170
1086
1739
75021
EBT
Tax (25.5%)
-15414
0
-1670
0
4871
0
8716
0
-3497
0
10957
2794
23894
6093
31969
8152
46243
11792
Net Profit/Loss
-15414
-1670
4871
8716
-3497
8163
17801
23817
34451
2041
4450
5954
8613
Sales excl. BTW
Cost of Goods Sold
Gross Profit
Wages*
Payroll
Accountant39
Rent
tax
Internet and phone
Marketing
Travel
Insurance**
Year 2
Year 3
Year 4
Year 5
** OHRA AOV – € 94.37 per month. General Insurances € 39 per month (Legal help - € 1.250.000, inventory - € 10.000, Cash - 2.500.)40
Appendix H. Income Statement;
Statement; Worse Case Scenario
Q1
Q2
Q3
Q4
Total
Year 1
Year 2
Year 3
Year 4
Year 5
Sales excl. BTW
Cost of Goods Sold
Gross Profit
8934
3833
5101
17867
7406
10461
26800
10979
15821
35734
14552
21182
89335
36770
52565
98507
40699
57808
115663
47561
68102
127229
52317
74912
146313
60165
86148
Wages*
Payroll
Accountant41
Rent
tax
Internet and phone
Marketing
Travel
Insurance**
7587
394
150
6876
7587
394
150
6876
7587
394
150
6876
7587
394
550
6876
30348
1576
1000
27504
30985
1609
1100
28082
31636
1643
1200
28672
32300
1678
1225
29274
32979
1713
1251
29889
400
105
7153
0
400
400
105
1449
0
400
400
105
1949
1000
400
400
105
1449
0
400
1600
420
12000
1000
1600
1634
429
4000
1021
1634
1668
438
4000
1042
1668
1703
447
4084
1064
1703
1739
457
4170
1086
1739
23065
17361
18861
17761
77048
70494
71967
73478
75021
EBT
Tax (25.5%)
-17964
0
-6900
0
-3040
0
3421
0
-24483
0
-12686
0
-3865
0
1433
366
11127
2837
Net Profit/Loss
-17964
-6900
-3040
3421
-24483
-12686
-3865
1068
8290
267
2072
42
** OHRA AOV – € 94.37 per month. General Insurances € 39 per month (Legal help - € 1.250.000, inventory - € 10.000, Cash - 2.500.)
72/74
02-06-2009
Appendix I. Cash Flow Statement
Year 0
Q1
Q2
Q3
Q4
Year 1
Year 2
Year 3
Sources of Cash
Cash flow from operating activities
Invested Capital
Total Cash In
0
70623
70623
11167
0
11167
22334
0
22334
33501
0
33501
44668
0
44668
111670
0
111670
123136
0
123136
144580
0
144580
Uses of Cash
Renovation and equipment
Payments of goods and transportation
Wages and payroll
Payments of rent
Payments of electricity, gas, water and city tax
Payment of internet and phone
Payments of marketing activities
Payments of travel
Payment of insurance
Taxes
Payment of Dividends (Investor - 25%)
Total Cash Out
15000
7119
0
27504
0
0
6000
0
0
0
0
55623
0
0
8131
0
400
105
0
0
400
0
0
9036
0
7810
8131
0
400
105
2602
0
400
0
0
19448
0
12844
8131
0
400
105
1949
1000
400
0
0
24829
0
18191
8531
0
400
105
1449
0
400
0
0
29076
0
38845
32924
0
1600
420
6000
1000
1600
0
0
82389
800
50551
33694
28082
1634
429
4000
1021
1634
533
390
122768
1200
59128
34479
28672
1668
438
4000
1042
1668
3439
2512
138246
Net Change In Cash
15000
2131
2886
8672
15592
29281
368
6334
Cash Begin Period
Cash End Period
0
15000
15000
17131
17131
20017
20017
28689
28689
44281
15000
44281
44281
44649
44649
50984
.
73/74
02-06-2009

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