Cosmopolitan Lifestyle Store Case Study

COMPANY DESCRIPTION:

Cosmopolitan is an online lifestyle store aimed at bringing latest trends and fashion in every part of the country. It is focused on the fact that fashion is something to be shared and hence the site simply aims to do so. As the name suggests, Cosmopolitan is aimed towards being a freeway to being all the international brands like Coco Channel, Hugo Boss, Dolce & Gabanna (these are just to name a few) through this web oriented lifestyle store. It would have brands and merchandise from various countries on a single website that would enable customers who love international brands to shop at their convenience.

Legal Description: 
Cosmopolitan is a dream child of three friends formally putting up in Chandigarh. It will come into business from March 2013. It is a web-based lifestyle store. Mohak Sood , Mohit Dutta and Nikhil Sharma are the company’s principle owners and hold equal shares of ownership in the company. The operations for cosmopolitan takes place through internet largely but would focus on multi-channel retailing as well.
The main focus remains on Online retail channel.

History of the Company:
The company is a new business aimed at providing women of the new generation and men with impeccable taste to have stylish clothing options to buy and wear. Accessories are available to add icing to the cake. As the company’s founders, we found that India’s current online lifestyle market is missing the mark and that extra notch that is required. In fact, most clothing stores are still selling clothes that are considered to be baggy, old-school and the regular-basic brands. As a fashion enthusiast we recognize the need for an online lifestyle store that caters to the up-beat, fashion-forward generation by providing them apparels and accessories hosted by famous and most favourite national as well as international brands. Initially, not a large number of manpower is required as our basic focus is on online retail channel therefore we would need web designers, advertisers, exporters and other such technical employees. The sales-force will have to increase gradually.

Reach:
Cosmopolitan’s distribution is basically online retail. We would ensure at increasing the customer base and distributing the merchandise to even the remotest of areas so as to increase the standard of living and brand acceptance. Strong distribution network is the need of the hour. Beyond the company’s online store, Cosmopolitan has also acquired goodwill since it will host a number of international brands that are not prevailing to a large extent in the country as of now.

Crafting the Future: 

-It intends on maintaining a consistent brand strategy domestically.
-Complete renovating, stocking, hiring and initial marketing. It will focus on a successful grand opening-event.
-Penetrate and raise awareness in 70 percent of our targeted consumer market.
-Achieve a profit margin of 50 percent.
-Build a strong customer base and mailing list.
-Generate repeat and referral sales.
-Become a profitable business with expansion potential.
-Establish a solid reputation as quality retail establishment.
-While Cosmopolitan will continue to be one of the best recognized accessories and apparels brand in the country, its long term strategic plan is to increase international distribution and target international customers, with an emphasis to India, of course. The company aims at a significant growth opportunity in this region.

Our major milestone will be securing funds and setting up our business. That remains the primary focus right now. In two years, we hope to have established our online retail business with the country’s boundaries. Furthermore, as owners, we would like to see the growth of Cosmopolitan with an increase in product lines, further penetration into the national market and, under the right set of circumstances, the opening of the franchisee in strategic locations.

Keys to Success

In order to succeed in the western wear apparel industry Cosmopolitan must: