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Young, obsessed with all things surrounding us, street culture, music, art, fashion, travelling, clothes and of course feeling and looking good. This is a pretty good synopsis of the mindset and priorities of the founders of FUNKY BUDDHA®back in the day
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1
The Funky Buddha brand was founded in 2003
through the passion and intuition of a team of
three friends and young entrepreneurs from
Greece.
A trip to Katmandu, hub of Nepal's traditional
culture and arts, its striking mountain view and
its ambiance of spirituality, combined with thevibrant attitude of the founders made the idea
very simple. To pool their aspirations, skills
and values and focus them on the research
and realization of a brand that embraces the
feel good factor as its unique and distinctive
value.
A gold laughing Funky Buddha became the
brand’s symbol and an inspiration for what has
become a highly successful idea: to make
great garments that suit every individual, reflect
ones personality and make you feel at ease.
Young, obsessed with all things surrounding us, street culture, music, art, fashion, travelling, clothes and
of course feeling and looking good. This is a pretty good synopsis of the mindset and priorities of the founders of FUNKY BUDDHA® back in the day.
The brand was launched during summer 2003
and its tees and cargo shorts became directly a
hit. In just a few short years and with the
collection becoming richer and more complete
the commercial success of the Greek company
took off.
Funky Buddha has become in a short period of
time the cult brand for those who love to wear
clothes inspired by values such as freedom,
respect for the individual and respect for the
environment.
It currently opened its first own shop and holds
more than 300 points of sale in the Greek
market. In 2010 the brand was also distributed
to Spain, Belgium, the Netherlands and
Germany through individual retails who saw the
potential at their first international meeting with
the brand at CPD Signatures fair in Dusseldorf.
Every season Funky Buddha creates a
wardrobe brimming with ideas, in tune
with the latest trends and inspired by its
values. Its products are of high quality,
rich in detail, uplifting in attitude but also
affordable .
It has created a hype in outerwear such
as Polo's, jersey’s, shorts, fleece, jackets
and pulls and recently it has launched its
jeans series fully tuned with the overall
Funky looks
Conceded for a Young, dynamic man, it
targets people who care about details
and quality, who love vintage and
always want to look good while
remaining themselves. Simply FUNKY!
The Funky Buddha Team
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Young, cutting-edge brand with loyal, rapidly expanding customer base
Over 300 points of sale in Europe
Wholesale sales of 6 million € in 2010, and a y2y increase of more than
10% over the last 5 years
New points of sale in 4 European markets in 2011
High-quality, fashionable, casual apparel with broad potential appeal
Target market: young metropolitan adults (20-32) in major urban markets
with disposable income
Demonstrated proof of concept locally with successful retail sales
Under-penetrated European market- immediate term goal of distributing
the brand in 2 new markets each year.
Long-term goal: to become a well established brand worldwide- amongst
the first names that consumers think of for casual, vintage menswear for
t-shirts, polo’s, sweatshirts, jeans, etc.
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Polo Shirts (WP: 8-13€ RRP: 24-39 €)
T-shirts, jerseys (WP: 5-7 € RRP: 15-25 €)
Jackets (WP: 18-25 € RRP: 59-79 €)
Cargo shorts (WP:12-18 € RRP: 35-49 €)
Shirts (WP:12-18 € RRP: 35-49 €)
Pants (WP:15-22 € RRP: 59-79 €)
Jackets (WP: 25-39 € RRP: 69-99 €)
T-shirts, jerseys (WP: 7-9 € RRP: 19-29 €)
Sweatshirts (WP: 13-20 € RRP: 39-59 €)
Pants (WP: 15-25 € RRP: 45-75 €)
Shirts (WP:15-20 € RRP: 45-65 €)
Knitwear (WP:10-20 € RRP: 35-65 €)
Jeanswear (WP: 20-25 € RRP: 59-79 €)
4WP: wholesale price RRP: recommended retail price
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40
30
20
0
10
Age
Fashionable Casual Street wear
FunkyBuddha
Scotch & Soda
No Excess Supreme being
Tommy
Hilfiger
Gio Goi
NZA
Bench
50
FredMello
Street wear
Fashionable
High Price
Low Price
• Bench
• Gio Goi
• Tommy Hilfiger• NZA
• Fred Mello
• Funky Buddha
• No Excess
• Scotch & Soda
• Blend
New apparel categories introduced: jeans and shirts collection introduced
in Winter 2010 with wide customer acceptance
New Brand launch in the European market and repositioning of the brand
to more upscale retailers in the Greek market
30 new points of sale in Greece
19 new points of sale in Europe (Netherlands, Belgium, Spain, Germany, Cyprus)
New agent in Netherlands and Belgium
First FUNKY BUDDHA store opening in Larissa city.
In-house product design and development and logistics operations
Own buying houses and management facilities in both China and
Bangladesh for adequate sourcing and quality control
Significantly upgraded management tools for design and product
development
Lead time decrease through introduction of CAD and the support of EDI.
New integrated PDM system that allows quick response to market
trends
Strong comparable sales results: 15% in 2010 on top of 12% in 2009
New product lines, new markets and accelerated expansion with significant investments in infrastructure and systems
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Grow wholesale customer base
Under penetrated existing urban markets in Europe and internationally
Find agents in new markets
Grow store base
2 new store openings in Athens
Opportunities in retail investment due to crisis in real estate market.
Franchise the Funky Buddha retail concept in the Greek market
Improve production efficiency with better supply chain management and
materials resource planning with ERP
Add missing categories and provide customer with more complete product
assortment (accessories and more bottoms)
Complete implementation of Hyperion Financial Management modules for
financial consolidation & reporting
planning & budgeting
improve execution through key management hires and growing the
organization
Expand brand awareness with new campaign and reach beyond initial
base of young urban adults
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Europe
Belgium
Germany
Spain
Netherlands
Greece
Cyprus
Athens
Thessaloniki
Lamia
Larissa
Patra
Ioannina
Leivadia
Volos
Aigion
Elassona
Katerini
Trikala
Kavala
Kastoria
Grevena
Kilkis
Drama
Xanthi
Florina
Veroia
Gianitsa
Ptolemais
Sparti
Tripolis
Argos
Nafplion
Igoumenitsa
Halkis
Kozani
Rhodes
Mykonos
Crete
Corfu
Girona
Ibiza
Tenerife
Gran Canaria
Cadiz
Hasselt (2)
Nicosia (2)
Latsia
Limassol (3)
Köln (2)
Düsseldorf (2)
Maastricht (1)
Attractive, underserved market segment with large potential
Unique brand concept with growing, global appeal
Strong product design and development team and total production control management
Investments in infrastructure in 2010 provide strong foundation for future growth
Perfect quality-design-price ratio as sustainable competitive advantage
Well positioned for consumer economic environment in 2010, and beyond
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