Published on April 16, 2016 um 12:20
Explain your idea in details:
KoliOb Kollections intends to revitalize the Nigerian womens footwear industry by leveraging unsurpassed Nigerian design aptitude with Nigerian artisan factory relationships to generate trend -setting, high quality footwear at modest prices and unbeatable product turnaround times As a key component of our growth strategy we consider it critical to identify our business objectives and align these objectives with clear and measurable development strategies. Our key long term business objective is to build a clear customer acquisition process, customer acquisition is considered to be the critical activity and we are seeking to grow the number of customers by 25% annually. We understand that customer growth can be at the expense of profitability and that theres a cost associated with customer acquisition The objectives for the first three years of operation include; 1. To create a product based shoe designing company whose primary goal is to go beyond customers expectations. 2. To maximize company revenues by establishing a high-profile retail presence in Port Harcourt, Rivers State. The target market include fashion conscious women from 18 to 35 years with a market size of about 38 million Nigerian women. This figure was derived by multiplying the population of Nigerian women aged between 18 and 35 years which according to Wikipedia quoting the 2006 census estimation was 44, 517, 593 by the estimated product penetration rate of 85% will give 37, 839,954.05 which is approximately 38 million. The products to be offered for sale include; flat shoes, wedges,heels, sandals,slippers and loafers.
Expected impact of your idea on sustainable development
According to Nigeria Daily Post quoting the director of the Department of Livestock and Disease Control, Dr Joseph Nyager, 80% of footwear in Nigeria are imported from China with only 10% made in the country and the other 10% from Europe and Morocco. Yet, the Aba shoe industry in South East Nigeria has the potential to produce quality footwear that nearly compares to the Italian brand, yet they have no presence outside the country, over the years, increased reliance on overseas manufacturers have lowered prices of and demand for Nigerian made shoes, hence making the local shoe makers use inferior materials in production in a bid to make profit, leading to the production of low quality shoes thereby accelerating consumer migration toward better designed, trendier foreign shoes. In the process, however, Nigeria design innovation has substantially deteriorated, with predictable mimics of existing designs becoming the norm. KoliOb Kollections intends to revitalize the Nigerian womens footwear industry by leveraging unsurpassed Nigerian design aptitude with Nigerian artisan factory relationships to generate trend -setting footwear at modest prices and unbeatable product turnaround times, thereby spurring a change in the perceptions of Nigerians towards the purchase of made in Nigeria products which will effortlessly lead to the growth of the economy since its an already established fact that one of the reasons for the continuous deterioration in the value of the country's currency is her excessive reliance on imported goods.It will also provide employment opportunities for Nigerians, thereby leading to the country's economic development.
Plans for implementation and sustainability
Over the first 6 months, our focus will be on promoting KoliOb Kollections by establishing an online presence and a high-profile retail presence in Port Harcourt, establishing an effective and multi-channel marketing system and optimizing key operating processes. These task will be undertaken in the context of our broader strategy to develop new products and new markets. These strategies are a tactical implementation of our overall business goal as outlined above.The keys to success will include establishing a high-profile retail store and design studio in Port Harcourt, River State, conducting an effective, multi-channel marketing campaign, optimizing key operating processes and strategic supply chain alliances, and promoting research and development of new services and markets. The operating plan centers on identification of a suitable commercial space in Port Harcourt, Rivers State, to launch the companys inaugural retail outlet and design studio. The marketing plan relies on a multi-channel advertising and strategic alliance to generate exposure and sales.
BUSINESS MODEL:The Bricks and clicks business model will be used, in which the company will integrate both offline (bricks) and online (clicks) presence allowing the customer to order products either online or physically in our store and also allowing them to either pick-up their order directly at the store or getting it delivered to their home.
KoliOb Kollections proposes to pursue its objectives by obtaining fund (loan or grant) totalling
N7,265,000. The money would be used to cover start up cost and working capital requirements totaling N6,425,000, along with identifiable capital expenditure requirement totaling N750,000, comprised of property, plant and equipment and to establish contingent cash reserve of 100, 000. The money will be sourced from angel investors and/or through grants.
I am a 21 years old graduate of Nnamdi Azikiwe University, Awka. I graduated with a Bsc degree in Cooperative Economics and Management and a GPA of 4.13. Nigeria is currently facing a huge economic downturn, so i completely understand how important economic and social development is for my country. I have a profound passion and enthusiasm for fashion and i intend on using every knowledge, skill and opportunity to contribute to a positive change in my country and the rest of the world. I have kept my drive and ambition at the forefront of everything I do. It is this drive and ambition that, in my opinion, will enable me to transform this idea into a successful business.
Stage of Idea
conceptual stage, planning stage
online design prototype
online design prototype
online design prototype