The opportunity identified is creating a fashion experience
of the classy and elegant man. You also mentioned that the business is going
through a rebranding process, and as such identifying the shortcomings the
business face at the initial stage.
Firstly, building a profitable and suitable
business works by achieving a positive triple bottom line- People, planet & profit. This help to generate profit
while reducing any negative impact to the people and our planet through its
products, services and operations.
The fashion industry is the second most polluting industry
in the world and it causes negative impacts on people and the earth’s delicate
ecosystem along the global supply chain. As part of the rebranding process for
beescope building more efficient operations will lower your costs, increasing
your profits and helping you to drive growth and innovation. You will gain a
competitive advantage, improve your brand value and reputation, and most
importantly, decrease your environmental footprint.
In order to build your customer base you will need to
analyze you operations. Analyzing your operation and knowing the process flow
is important. An example of a process flow for Beescope could look like this:
Design- Production- Distribution- Retail store or Ecommerce- Packaging & presentation-
Customer care services.
Before you dive in to create improvements, first stop and
think. As a good practice for all businesses, first do a SWOT analysis by
reviewing your Strengths, Weaknesses, Opportunities and Threats, which will
help you determine your capabilities in the global marketplace.
Then analyze the environmental and social impacts of your business
through your entire supply chain and operations. This will allow you to make a
plan to tackle issues, with the quick wins first through to the issues that may
need longer investment and research. Start with achievable targets and don’t
get overwhelmed. Just like the Nathan griffioen, Kesavadas Suthaman, Jamie Wiecha
and Oluwadamilola Olaneye has also suggested limiting your target market to
just the male aspect can be reviewed.
For example, look for stages in your supply chain where you can
purchase sustainable materials, reduce waste, save energy, streamline
production and decrease transport emissions and you will be taking the first
steps to creating your sustainable rebranded fashion business.
Remember, it is unrealistic to tackle everything at once, but by beginning
the journey, you will already be gaining a competitive advantage, as you will
understand the true impacts of your business.