vesper book v3

Vesper Designwear

Joceline Janice Kuswanto

Vesper Designwear 1

Vesper Designwear2


BA(HONS) FASHION MEDIA AND INDUSTRY

2015

Vesper is a brand for all female pole dancers.

“We, as women, are discouraged so often from being comfortable with ourselves. Women held up their outside title, meaning how they believe others see and perceive them. Their name, their gender, their profession,

that’s their label, how others see them.

And the pole is their inside world.”

Julia Roth

Filmmaker

Vesper Designwear 5Vesper Designwear4

CHAPTER 01

EXECUTIVESUMMARY

Business description

Vesper designwear is a premium brand of activewear which offers a range of tops and bottoms especially designed for pole and aerial arts and other medium-intensity exercises for modern women who value active lifestyle. Pole and aerial arts are different from other exercises. They are more demanding due to the anti-gravity nature of the sports, they trained not only endurance but also strength and flexibility, and they have a certain element of performance. Thus, unlike most other activewear, Vesper designwear was especially developed through extensive research and user-testing to best acommodate the nature of pole and aerial arts. Vesper understands the desire of these women to not only look good, but also feel good when exercising. With a strong focus on clean lines, the designs has a perfect fit to different types of the feminine body, and also reflect the grace, sensuality, and stylishness of pole and aerial arts. Vesper designwear is available through www.vesper.com and select stockists, which include internationally renowned pole dance studios and concept stores around Asia.

Business context (problems & solutions)

Despite the increasing popularity of pole dance in Singapore and the region, polewear is not widely accessible. In Singapore, only a few polewear are distributed locally: Indi Polewear, Bad Kitty, and Dragonfly, and only Bad Kitty are available physically. Thus, there were not many choices in terms of style and designs. Most pole dancers sought yogawear in place of polewear. While yoga top can be used as pole top, yoga bottoms are slightly different from pole wear in terms of material and proportion. This is because skin contact is of utmost important for pole fitness, and thus it has some specific requirements. Other pole dancers have actively sourced their pole wear overseas, incurring high shipping costs and enduring long shipping time in the process. Thus, being based in Singapore, Vesper is highly accessible and available for pole dancers in Singapore.

Target market

Vesper’s primary target market is women in their 20s to 40s who actively took up pole and aerial arts as a form of fitness in Singapore and the region. It is forecasted that at least 50%-60% of Vesper’s sales will come from this segment of the market. Vesper’s secondary market, which are women of similar age group who took up other medium-intensity sports such as RPM, cardio barre, yoga, and pilates, will be a prominent and profitable market as well. Vesper’s secondary market extends to ordinary women who just liked to dress up sporty, as sportswear has become a major trend in fashion lately. Together, it is estimated that the market size amounts to 3000 people, and the number grows each year.

Competitors

Vesper’s biggest rivals were identified as Bad Kitty, Dragonfly, and

RAD Polewear. Bad Kitty is the current market leader as it is the first polewear brand to enter the market, and thus has a certain credentials. However, the products are inconsistent in quality and it is still rooted in the striptease origin of pole dance. Vesper aims to replace Bad Kitty as the current market leader by offering alternative style and higher quality products.

Competitive Advantage

Vesper differentiates itself from its pole wear competitors in terms of availability, knowledge of the Asian consumer, design and style. Vesper’s main strategy is to be a brand that has an emotional connection to the brand, and create products that are not only high quality but highly desirable. Vesper’s style is best described as the right balance between athletic and graceful, and it has a contemporary fashion proposition. Other competitors. such as Bad Kitty, has their roots in striptease, burlesque and exotic dance, and thus sexy and costumesque. Sometimes, it does not fit the more reserved Asian values.

Positioning statement

To all women in Singapore who practice pole and aerial arts, Vesper is a brand that offers well-fitting and unique designs that accomodate the anti-gravity nature of pole and aerial activities, so that they will not only look good but also feel good on the pole.

Mission statement

To be a market leader and taste maker of the polewear industry, essentially promoting pole dance as a unique and respectable form of fitness and performance.

Value proposition

Vesper is a premium designwear created by pole dancers for pole dancers.

Unique Selling Proposition

Well-fitting pole wear with contemporary fashion proposition.Created with to accomodate the nature of pole & aerial arts.Graceful, sophisticated style that gives a new perspective to pole dance.

Team

Vesper is headed by founder Joceline J.K, who will directly be in charge of all aspects of the brand, the product development, and the logistic aspect. As the business expands, a general assistant will be the right-hand man and a full-timer will supervise logistics and sales.

Executive Summary Executive Summary Vesper Designwear 9Vesper Designwear8

Operations

Productions and designs will be handled by production partner based in Jakarta, Agua de Alma. Milan Pole Dance Studio Singapore will be the official studio partner for product testing. Various courier services will also be used to accomodate shipping internationally and locally.

Primary Market

Singapore and ASEAN region.

Main Distribution Channel

E-commerce and authorized studio resellers.

Milestones

In the first year of operation, Vesper planned to focus on its online business and gained 10% of the market share. Vesper will slowly expand to phsyical retail through wholesale, with local pole dance studios such as Milan Pole Dance Studio Singapore and yoga studios such as Yoga Inc. as the prospective buyers. The third year marked Vesper’s expansion to department stores and concept stores in Singapore. After the success of the initial local expansion into retail spaces, Vesper planned to expand overseas, firstly to neighbouring countries such as Malaysia, Indonesia, the Philippines, and Thailand. It will cement Vesper’s position as the market leader of pole wear industry and the market share was projected to reach 25%.

Further details on management and operations are available in Chapter 03: Strategic Plan.

Further details on business context, target market, and competitors are available in Chapter 04: The Industry and the Market.

Further details on the milestones and financial plan are available in Chapter 05: Financial Plan.

Five Year Financial Forecast Summary

Sales Budget (in thousands of Singapore Dollars)

Y1

100

200

300

400

500

600

700

800

900

1000

Y2 Y3 Y4 Y5

BRA TOPS (30%)

SHORTS (23%)

LEGGINGS (19%)

TANK TOPS (13%)

(15%)ACESSORIESSTREETWEARCOSTUME

COMBINED REVENUE

Average Annual Growth Rate

1.33Net Profit in Y5

$252,340

$ 1,005,003

Qty sold in Y5

16,020 pcsR

even

ue (

in t

ho

usa

nd

s o

f S

GD

)


CHAPTER 02

BRANDOVERVIEW

Brand Story

The Vesper Brand

Vesper Designwear is a premium activewear brand created by female pole dancers for female pole dancers.

In the early 20th century, pole and aerial arts started as sports for men. After gaining negative perception due to its incorporation in burlesque and exotic dance such as circus act, stripping and lap dance, it went back to its roots as an alternative fitness for women for its apparent benefits in strengthening the body and increasing flexibility. Just like any other sports–or even more than any other, pole dance requires stamina and perseverance. Furthermore, the anti-gravity nature and the need for fluidity of body movements mean that pole fitness can be more demanding than other fitness forms.

However, pole dancing are still often associated with night club, striptease, porn and pleasure due to its revealing outfits. Pole dancers often carry the stigma of a lecherous women. This is, however, was a misconception. The fact that the little coverage of polewear was necessary for skin contact, a very technical aspect of pole dance, was always missed out. Thus, doing pole dance is always associated with being sexual. The way of seeing the body as a sexual object is a disrespect to the strength of these women. Sexuality is inherent in every person and owning it should not be embarassing. In fact, sexuality is just part of the sum.

A peek into the life of these pole dancers reveal why it is so important to them. For them, pole dance was never about showing off their bodies, but a way to control their body and mind by having strength, body awareness, and mental fortitude.

Vesper Designwear was conceived to honor these women. Vesper offers female pole dancers well-fitting polewear that stands against the anti-gravity nature of pole dance to accomodate freedom of movements. On the pole, concerns over how other people perceive their bodies should be the least of their worries.

The Vesper Brand

Brand Overview Brand Overview Vesper Designwear 15Vesper Designwear14

Like how pole dance is an expression of themselves, Vesper celebrates female pole dancers and their relationship with their bodies.

BRAND DNA

Strength Gracefulness


THE FIRST BRAND TO USE ‘DESIGNWEAR’

Vesper focuses on in-depth research on the motions and physics of pole movements to cater to the unique and varying body types of female pole dancers to create the perfect pole wear.

THE FIRST POLE WEAR BRAND TO HAVE A DIFFERENT ANGLE ON POLE DANCE

Vesper acknowledges the inherent sensuality of pole dance, but celebrates more of the strength, gracefulness, and mental fortitude of pole dance.


Corporate Objective

TO BE A MARKET LEADER AND TASTE MAKER IN THE POLEWEAR INDUSTRY.

Secondary Objective

DEVELOPING POLE WEAR MARKET BY PROMOTING POLE DANCE AS:

1. FITNESS 2. PERFORMANCE


CHAPTER 02

BRANDOVERVIEW

CHAPTER 03

STRATEGICPLAN

Determining Factors

All decisions regarding Strategic Plan are determined by these factors:

Mission statement


Value proposition


Consumer insight

Products that fit their body well instead forcing the body to conform to the products.

Competitors

Vesper analyses the current trend in marketwear and the competitors’ offerings to stand out above the rest.

Details on competitors are available on Chapter 04: The Industry and the Market

Products & Services

Vesper offers a range of designwear that is especially designed for pole and aerial activities, but is suitable for medium-impact sports such as yoga and pilates as well.

Merchandises

For the first five years, Vesper focuses on producing high quality tops and bottoms (tank tops, bra tops, leggings, and shorts) for pole and aerial arts. The style can be described as a balance between sporty and sophisticated, with a contemporary fashion proposition that separates it from competitors.

Features, advantages, benefits

Vesper tops and bottoms are body-type driven, which means they are designed to fit different body types. They are form-fitting and they stay in place amid the rigourous and anti-gravity nature of pole activities. Thus, there will be no nuisance related to ill-fitting polewear. The unique style that blends sophisticated and edgy differentiates it from other competitors. The wearer will feel sophisticated and not sleazy, comfortable and look good when doing pole and other aerial activities, regardless of body type.

The designer

All designs are created by Ivan Adiputra, the creative director of Agua de Alma, a luxury resortwear from Jakarta, Indonesia. Adiputra focuses on quality and designs and brings a fusion of Asian and European style. He combined Baleraric themes and the classic European sense of style with Asian flair for today’s discerning active women. This is to give an International flair, but still suit the taste of Asian women.

All Vesper tops has the signature thin straps with unique strapping designs, like a ribbon that wraps the body. Most Vesper products came in signature black colour or other colours with coloured outside stitches. The consistent ideology behind each design means that Vesper products can be mixed and matched despite the style group.

Design philosophy

Fashionable pole wear that reconciles the athleticism, gracefulness, and sensuality of pole dance. Inspired by the lines that was created by the pole and the body during pole dance to create a sense of asymmetry, unique silhouette, and intersecting lines.

Strategic Plan Strategic Plan Vesper Designwear 25Vesper Designwear24

Seasonal collections and style group

Vesper will have three signature styles which will be the mainstay of the brand. They will be established in the very first collection, “Collection 0”. All-new seasonal collection will be released every four months. Each collection comes with two limited edition seasonal styles and limited edition colours for the three signature styles. All designs are unrepeated. This serves to create highly desirable products.

Sizing consultation

Vesper offers individual sizing consultation with our customer service officer though e-mail enquiries. This is in-line with Vesper’s vision of fitting all body types.

Alteration

All body types are not created equal. Vesper accepts requests of alterations on case to case basis on additional costs.

Returns and exchanges policy

Vesper prioritises customers’ satisfaction. If the products do not fit well, it may be refunded back to the original form of payment, or exchanged within 14 days of receipt, provided that the merchandises are in original saleable condition with all original tags attached. Merchandises must be accompanied by both the orginal sales receipt and a return authorization number. To receive return authorization number, customers are to e-mail Vesper. To prevent the policy from being abused, Vesper reserves the rights to refuse a return or exchange if the merchandise in question does not meet the original standards.

E-mail follow up

Vesper ensures that all customers received the best service and products. Vesper will send an email after first purchase to gain customer’s feedback.

Payment methods

Vesper accepts VISA, Mastercard, JCB, American Express, and payment via Paypal. In the future, Vesper will consider i-banking for local customers.

UNIQUE SELLING POINT

SOPHISTICATED YET ATHLETIC STYLE

WELL-DESIGNED PRODUCT WITH HIGH FUNCTIONALITY


Sizing guide

All Vesper products range from XS to XL with the following specifications for tops and bottoms:

US

EU

UK/AU

China

Japan

Bust

Natural Waist

0-2

32-34

4-6

160-165/84-86

3-5

32

24-26

4-6

36-38

8-10

165-170/88-90

7-9

32-34

27-28

8-10

40-42

12-14

167-172/92-96

11-13

34-36

29-30

12

44

16

168-173/98-102

15-17

34-46

31

14

46

18

170/176/106-110

19-21

34/36-38

32

XS S M L XL

Tops

US

EU

UK/AU

China

Japan

Germany

0-2/25-26

32-34

4-6

160-165/84-86

3-5

32

4-6/27-28

36-38

8-10

165-170/88-90

7-9

30

8-10/29-30

40-42

12-14

167-172/92-96

11-13

36-38

10-12

42-44

12-14

168-173/98-102

13-15

38-40

XS/S S/M M/L L/XL

Bottoms

Product Knowledge

Material

All Vesper products are made with Italian Milliskin Matte Spandex, with a composition of 80% Nylon and 20% Spandex. At 190 GSM, it is lightweight and silky soft. It has a superior four-way elasticity and retained good form on the body. It can withstand hundreds of washing. It is also water-resistant and moisture-wicking to prevent sweat marks on the top. All materials are pole-tested prior to production.

To ensure longevity, Vesper products has to be treated with care. Handwash or machine wash in gentle cycle with cold water only. Do not tumble dry, iron, bleach, or re-dye. Saline soak (a tablespoon of salt in cold water) on first wash to set dye. Separate dark washes from light washes, as colour run may occur on the first wash.

Fabric Care

Pole-tested

4-way stretch

Moisture-wicking


Product Mix

Signature collection

The first launch consists of three signature styles, which has bra tops, tank tops, shorts and leggings each. Seasonal collections will be added to the line every four months.

Tops

Bra Tops

Tops come with removable bra pads.Some tank tops serve as cover ups, not performance tank tops.Bra tops and tank tops are designed to complement each other.

Vesper

Black

XS XS XS XS XS XS

S S S S S S

M M M M M M

L L L L L L

XL XL XL XL XL XL

Black Black Black Black BlackC2 C2 C2 C2 C2 C2

Style 2 Style 3 Style 2Vesper Style 3

Tank Tops

Product Classification

All signature items are the regulators of the product mix because of their timeless quality. The limited edition colours (C2) can be classified as the attractors.

Pro

du

ct

Mix

D

ep

thP

rod

uct

Lin

e D

ep

th

Shorts

Vesper

Vesper Style 2 Style 3

Bra Bra BraTank Tank Tank

Black Black BlackColour 2 Colour 2 Colour 2

Shorts Shorts ShortsLeggings Leggings Leggings

Black

XS XS XS XS XS XS

S S S S S S

M M M M M M

L L L L L L

XL XL XL XL XL XL



Leggings

Bottoms

Product Mix Width

XS XS XSS S SM M ML L LXL XL XL


Product Life Cycle

By analysing the product life cycle over the next five years, growth strategy can be adapted to ensure the relevance and the longevity of the brand.

Research andDevelopment

Now-Launch

Introduction GrowthPhase 1

GrowthPhase 2

RepeatPurchases

First-timers

Targ

et G

row

th

With

no g

row

th s

trat

egie

s

First-timersUser Testing

1st Year 1st-2nd Year 3rd - 4th Year

Pro

fit

Growth Strategies

It is forcasted the brand my reach an early ceiling of growth in the next four years if no strategy is employed. This is because of the sucess of the brand may lead to increased competitions in the already niche market. To maintain the growth momentum well past 5 years, the following growth strategy can be considered:

Diversification

Expansion of product lines to include accessories (legwarmers, knee protectors, gloves, headbands), performance costume, and streetwear (skirt, outerwear, long-sleeve shirts).

Quality improvement

There is a potential of finding or developing new fabric to improve grip on the pole in the future. The bigger the production line is, the more sophisticated machines can be used to improve quasuch as seamless sewing.

Design technology

In terms of designs, the following technology allow for more intricate and innovative designs, which justify increased price in the future: laser cut, digital print, emboss & engraving, embroidery, knitting, etc.

Promotion & collaboration

To maintain interest on the brand, There will be on-going promotions such as sponsorship and collaborations with well-known pole stars or fashion designers.

Maturity Decline

Jump to new competitors

RepeatPurchases

5th Year After 5th year


Product Sample Gallery

VESPER TOP

One of the signature style, Vesper is about breaking the boundaries. The asymmetry and intersecting straps gives an otherwise predictable design a twist. It is comfortable to be worn by people of all bust sizes.



VESPER SHORTS

Designed to complement the other products from the same line, Vesper shorts is the first asymmetrical pole shorts. The strap helps secure the shorts even more, and balance the silhouette.



VESPER TANK

Vesper fitted tank comes with the same asymmetry and straps as the top and the shorts. It has an open back to compliment any criss cross bra.



UNTITLED TOP

An upcoming second style from the signature style category, the top has innovative shoulder straps that go around the upper arm to reveal a beautiful open back design.


Packaging Design

Vesper packaging was designed to value-add to the product. The bubble air mailer is cost-efficient and helps protect the products during shipment. It is also durable and reusable. To further emphasis the quality of products and to ensure longevity, nylon bag and laundry net will be given with each purchases. Nylon bag protects the bag from other items when put inside the bag, and laundry net separate the products from other laundry. Care cards, and an illustration, showing how the products are supposed to be on the body, were given as well.


Commercialisation Strategy

E-Commerce – Business to Consumer (B2C)

Targeting niche market

E-commerce is the most profitable and the biggest selling platform for Vesper. This is because it could reach a wide target audience, locally and internationally. It is also highly accessile for Vesper’s target customers, which are young, tech-savvy and always connected. Furthermore, based on primary research (available in Chapter 04: The Market), most customers have been buying online, and they do not mind not trying. Moreover, because the target market is niche, internet can extend market reach and increase presence via search engine visibility.

Within five years, Vesper aims to distribute its products through the following sales channels:

3% Department Stores1% Specialty Stores

16% Pole & Yoga Studio

80% Online

Increased efficiency and cost-effective

E-commerce has many benefits. There is no barrier of time and distance for the customers, which translates to higher rate of transactions, which in turn means faster turnover compared to traditional retail. Direct cost-of-sales is also lower than traditional retail, which means higher net profit. Furthermore, through supporting cookies, the website is able to integrate customer data from the web and identify customers’ preferences resulting in better customer relationship management. E-commerce also means that the brand is selling directly to customers, with full control of business, decreasing dependency on intermediaries.

Decreased expenses:

Rental, fixtures, stationeryCommunication and advertising (website can be used as promotional tools. Online advertising channels are also cheaper than traditional media)Manpower and sales training

Overcoming challenges of e-commerce

Vesper may lose a portion of competitors who are only comfortable buying after trying. Because of this, physical retail is still necessary. There is an increase in costs associated with regular maintainance. However the costs do not exceed $500 a year. There is also a challenge in maintaining and increasing website traffic, which can be overcome by extensive promotional strategy.

The decrease in costs exceeds the increase in costs, so e-commerce is lower in risk for a new brand entering a niche market like Vesper.

Further details on website features can be seen in Promotional Plan.

Increased expenses:

Initial cost of implementing e-commerce platform is high (web developer, web designer, etc)Labour cost per person increases as more highly qualified employees are neededShippingStorage (no backroom for stock)


Wholesale to Pole and Yoga Studios – Business to Business (B2B)

Widening reach to target consumer through pole and yoga studios as intermediaries

Pole and yoga studios have similar concept and the same target market. Being present in pole and yoga studios also emphasizes the function of the products for pole activities and medium-intensity sports. It also means that Vesper products are physically available to be inspected and tried on by customers (this addresses the limitations of e-commerce) without the associated costs of renting a retail space.

Developing segments of the market

Pole studios are also able to develop market segments of the brand’s potential customers as they are responsible for attracting and growing pole talents. It needs to be noted that the higher the level of the customers, the more they are willing to spend on polewear as pole has become a part of their lifestyle. Since the market segments are shared, merchandises are sold effectively in the studios.

Cash flow management

Wholesale is beneficial for Vesper because merchandises are paid upfront, which means better cash flow. It also reduces on-hand inventory, ensuring stock are available for sale.

Overseas Expansion

Expansion to overseas studios in the region will start on the fifth year. The first four years will be focused on local expansion, and determining the demand from international customers.

There is a need to recognize that the local market of pole dancer is niche; the pool of pole talents is growing steadily but will sooner or later reach a ceiling in Singapore. The brand economic growth will slow down as the market matures.

There is a need for expansion and new market penetration beyond Singapore. The brand offers international shipping, but being available physically overseas will increase international presence.

Primary research has shown that pole and aerial arts are gaining prominence around the region (Phillipines, Indonesia, Malaysia).

Target Studio Buyers

It is in Vesper’s interest to actively promotes to the following studios, because they shared the same vision and style, and they had overlapping target market. They are also well-known locally and internationally.

Not Pictured:HOM Yoga Singapore, SLAP Dance Studio Singapore, Pure Yoga Singapore, Viva Vertical Malaysia.

Milan Pole Dance Singapore

PoleLAB Singapore


Upside Motion SingaporeAbsolute Yoga Singapore

Pole Cats ManilaJun Ko Pole Dance Studio Jakarta

Consignment With Specialty Stores and Department Stores

Developing secondary market

To maximise the niche market, Vesper has to expand into department stores and concept stores to develop Vesper’s secondary market, which makes up a small but significant percentage of the market segment. Department store helps Vesper increase visibility and extend its reach further–home-trained people do not buy their activewear in the studio, as they do not have any membership with any studios. Concept store targets people who like to dress up sporty, as sporstwear is a dominant fashion trend in the market, with designers like Alexander Wang being inspired by sportswear. Placing in concept stores also help to highlight Vesper’s strong fashion proposition.

Consignment benefits

By ensuring that the products are available for sale, Vesper reduces inventory costs. As Vesper is a new brand, it is also easier to convince big department stores like Robinsons to stock Vesper products, without the associated costs of renting retail space. It also helps to nurture a good relationship between Vesper and the retailers. Initially selling on consignment allows both Vesper and the retailers to judge what levels of inventory are turned over in particular time periods. In the future, these retailers might be more open to bulk order on a wholesale basis.

Target Department Stores & Specialty Stores

Vesper will actively promote to the following department stores and concept stores, which has overlapping target market group and where Vesper can blend in and stand out from other activewear products.

Department stores and concept stores are known to attract tourists. By placing itself in central-located department stores and concept stores, Vesper has higher chance to reach this small but profitable segment of the target market.


Robinsons Orchard

HIC Marketplace, a healthy living concept store at Millenia Walk

Not pictured: Takashimaya Ngee Ann City, Crateful

Marketing Plan

Target Customer (Profile)

After collating the data of Vesper’s potential customers, Vesper ascertains the typical potential Vesper customer who can be depicted into the following character:

Name (Fictional)

Age

Occupation

Income

Activities

Pole Level

Membership

Style

Buying frequency

Qty/purchase

Value/trans

Max spending power

Where she buys

Priorities

Customer insight

Type

Dianne Ng

31

Lawyer

Medium to High (can afford monthly studio membership)

Pole fitness, yoga, aerial hoop

Medium-Advanced

At least two different studios

Fashionable designs, does not mind less coverage

Once a month

At least 2

Minimum $100

Tops: $75Bottoms: $50Leggings: $100

Online, specialised retail stores, department stores

Comfort, Design, Quality, Price

Products that fit their bodies, notproducts that force the body toconform.

Early adopters of polewear trends. Have several costume-type polewear for photoshoot or amateur competition.

Details on the market research and segmentation can be read on Chapter 04: The Industry and the Market

This type of customers is loyal, and although they make up only 20% of the target market, they contribute up to 80% of the sales generated. They are also more willing in any given transactions. These women wil also actively participate in promotional events like google hangout, road show, pole camp, etc. Thus, they form a stable target market.


Pricing Strategies

Premium pricing

The average store mark-up will be 500% from the cost-of-sales. The merchandises will range in price from $55 (shorts) to $105 (leggings). Bra Tops, the product leader, will be priced at $75. Ready-made costumes will be priced above $200, and costumised costumes will be priced higher. Outerwear ranges in price from $55 to $105, and accessories will be priced at $10-$30.

The average wholesale mark-up will be 250% from factory costs. The merchandises range in price from $20 (shorts) to $50 (leggings).

Product positioning

Being fashionable and especially made for pole dance, the products have unique features and benefits that separate them from competitors. The desirability, the high quality and high price justify the premium pricing. Furthermore, the products fulfilled the customer insight of well-fitting pole wear. It is also well within their spending power (refer to pg. 36).

Competition’s pricing

Vesper’s direct competitions have lower pricing. This is because the quality is not as good as Vesper products. Vesper’s strategy is to attack current market leaders (ie. Bad Kitty, RAD Polewear) by providing an alternative sophisticated style and higher quality products with focused functionality.

$55 - $105average retail price (5x mark-up)

$25 - $50average retail price (2.5x mark-up)

Price

Qu

ality

High

Premium Pricing*

Premium Pricing

Premium Pricing

Premium Pricing

Hig

hLo

w

Low

Production costs (shorts)

Description

Material (w: 64 cm, elastic thread)Sewing (Bekasi, Jakarta)Airfreight from Jakarta to SG*Logo SilkscreenPaper TagPaper Box, laundry net, nylon bag

Total

*each bra approximately weighs 75g

Wholesale Price (x2.5)

E-commerce costs (min)

Description

Production costsPaypal (3.9% + 0.5 cents)GST (7%)

Total

Wholesale Price (x5) / R.R.P

Costs (SGD)

3.530.30.050.13

9.95

24.9

Costs (SGD)

9.950.90.1

10.9

54.5

To maintain premium image, Vesper will not offer mark downs, save for special privileges for community members (further details on pg. x).


Promotional Plan

Marketing objective

Vesper intends to achieve positive brand associations through effective, intergrated and cohesive communications. All promotional efforts communicate the same message and should increase desirability of the brand, increase customers’ loyalty towards the brand, and increase sales.

Message communicated to the audience

Vesper is a premium designwear especially created for pole and aerial arts. Pole is athletic and graceful, not sleazy. It is well-designed, of high quality, and fashionable. The tone of promotional items have to be inspirational and empowering rather than aspirational. The language has to be feminine and friendly, but not girly; personal and not corporate; smart and passionate.

Focus on digital marketing

Vesper will focus its promotions on digital marketing and public or media relations as opposed to traditional paid advertising. This is because digital marketing is a more cost-effective and impactful alternative for start-up business. Furthermore, 96% of millenials use the internet and are active in social media. Based on primary research, 93% of pole dancers in Singapore are millenials. It also highlight Vesper’s modern approach.

User-generated contents

Using social media platforms, the brand can increase user-generated contents and encourage word of mouth. It is more effective than traditional paid advertisements, which contents are usually brand-generated, as 78% of consumers today trust peer recommendations more than advertisements.Furthermore, the internet present new creative and innovative opportunities for promotions, and it is flexible enough to adopt for the next five years.

www.vesper.com

10% Media Personnel

30% Business Partners

70% Consumer

Promotional budget diversified by target audience

Vesper’s promotions can be categorized according to the audience type. The promotional budget (approximately 20% of annual sales) will be divided into three separate promotional target groups:

Consumer-oriented promotions

Consumer-oriented promotions will focus on digital platforms such as website and social media. The objective is to cement Vesper’s position as a premium brand and tastemaker in the pole industry. By connecting with the audience in an emotional level, Vesper hopes to encourage repeat purchases, increase loyalty, encourage switch from competitors, and encourage new triers.

Business-oriented promotions

By having a separate promotional package for retail partners and suppliers, Vesper aims to attract big players and to nurture long-term relationship with partners.


Media-oriented promotions

Through special privileges for media personnels, Vesper aims to be featured on media platforms, which are powerful in reaching wider audience base and in influencing consumers’ purchasing decisions.

Promotional Platforms

Website

Vesper’s main website is an important promotional tool to connect with the audience. By not having Vesper’s own retail space, the website acts as the ‘retail space’ and the ‘spokeperson’ of the brand. As the final destination of all other promotional efforts, it determines the consumers’ impressions of the brand and influences their puchasing decisions. Website also helps to educate the consumer about the Vesper brand.

Integrated brand experience

Due to the importance of website for e-commerce, Vesper will create an integrated brand experience from a singular website. The website will be all-in-one: corporate website, marketing website, and e-commerce platform. Mobile version and mobile application will reflect the main website. They are made available to shorten loading time, increase efficiency and to seamlessly integrate Vesper into their lifestyle.

Search Engine Optimization (SEO)

As a new website, it is important to maximise Search Engine results to increase online visibility and to generate traffic to the website. SEO will be done by webmasters according to Google’s guidelines for SEO. The aim is to be within Top 3 search results for relevant keywords such as “polewear”.

A few ways in which SEO can be done:

Appropriate title page: “Vesper Designwear : Premium Polewear”

Including meta description: “Vesper Designwear - design-focused pole wear that provides flattering fit for different body types. With exceptional designs that reconcile sensuality and sport-luxe, Vesper Designwear was created for maximum performance on the pole.”

Description & title page will avoid non-sensical keywords such as “pole dancer, pole, polewear...”

Creating wholesome brand experience through the 7C’s of effective website

Commerce

Content

Communication

Connection

Community

Customisation

Context

As an e-commerce platform, Vesper will create a hassle-free and informative shopping experience for the customers through the inclusion of product catalogue, high security shopping cart, automated recommendations, sizing guide, fabric care guide, and international payment method. For easy browsing, search, filter, and product sorting will be available by product features (e.g strap) style, size, colours, fit.

Vesper will make available exclusive and unique contents for the website, and social media will help direct customers to the website. Full campaigns such as short video and lookbook will be available for viewing in the website. Having the right keywords and phrases will also help the website rank higher in search engines.

Vesper encourages two-way communication between the brand and consumers. Contact us page will tell the means by which Vesper can be contacted. Customers can also submit queries via the website. Vesper will also schedule regular live chat.

There will be live feed for twitter and links to facebook, instagram, and affiliates links.

As pole dancers in Singapore form a tight-knit community, it will be beneficial to form Vesper’s own community and community page. Community members can have their own gallery and hall-of-fame (for challenge winner). Community members also have their own account, and they can direct message each other. There will also be a community blog, which enables community member to share class recommendations or tips, with web moderator’s approval.

The website can be personalised according to the user if they are community members. Personalised community member user page ‘X’s Page’ can be used to see new arrivals and hot items according to saved user preferences. Recommendations will also be done based on preferences. Preferences are obtainable both through consumer profile form and eCRM or cookie implanted on the website to check their viewing history.

Clean, no auto music and video to ensure that the load time is fast.


Creating online campaign through social media and other platforms is the fastest and most cost-effective way to reach a large number of potential customers at the same time. Most customers are always connected and technology literate, so they will participate in the campaign. They are also actively sharing in social media, often posting their pole escapades. The hashtag movement is also powerful to create buzz around the brand, sometimes blurring the physical and digital world. It has proven to be successful, through Lululemon’s #thesweatlife and Adidas #mygirls.

Integrated online campaign through hashtag movement#CanYouPoleThrough

Vesper will launch a consumer-focused marketing campaign, called #CanYouPoleThrough. It is a wordplay on “can you pull through?” to challenge and empower pole dancers. It highlights the idea of strength. Furthermore, having a hashtag will help organise user-generated contents in the internet. In this movement, every pole dancer-customer becomes the brand advocate.

All social media marketing will go towards and be integrated by the hashtag. Hashtag also determnes art direction and narrative for campaigns. #CanYouPoleThrough has to be present in all relevant social media posts.

Kickstarting #CanYouPoleThrough campaign

To start off the campaign, Vesper will send handwritten card with every purchase, encouraging them to take pictures of themselves wearing the products, to upload them to their personal social network page, and to tage the brand along with the hashtag. Vesper will also initiate usage of the hashtag on social media platforms by being the first to post a chain of images with the hashtags. The images will also serve as a guideline on how customers’ images should look like (no overly sexual poses, etc). Vesper will continue to re-tweet, re-post, and re-gram customers’ posts.

The Role of Community Members

Community members are usually people who are passionate about pole dance, and thus will help spread words and participate in #CanYouPoleThrough movements. The main objective of this “loyalty programme” is to increase brand loyalty by making customers feel valued. Due to special privileges afforded to community members, repeat purchases will be increased. Pre-requisites to be a member include purchase above $200 before being allowed to sign up for membership to ensure that special privileges are given for members who are ready to spend. To increase connectivity to social media, members can sign in using their facebook account.

Online Marketing Campaign

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Member Privileges:

Community member’s own profile page, on which preferences can be set up;Community sharing platforms like blog and #CanYouPoleThrough (refer to next page);Chance to be campaign model;Pre-shopping event for new launch (i.e new launch available 6 hours earlier for community members);Invitation to shopping event at a physical pop-up store;Monthly privileges such as free shipping;Fortnightly shopping night with discounts for members.

#CanYouPoleThrough Platforms

Website (Community Page)

As mentioned in page 41, community is an important aspect of pole dancer in Singapore. Vesper believes that the hashtag movement will be spread more effectively by community members who are as passionate for the cause. Thus, Vesper will create a community gallery page to honour these community members and inspire other people, called #CanYouPoleThrough. It will be similar to Burberry’s “Art of the Trench”. The gallery page will feature pole dancer-customers who wore Vesper for their pole activities. It also doubles as product catalogue, which the customers can sort through (by colour, by style, etc) and linked to product page, so that the marketing objective is not lost. Photos are able to be shared on social media (Facebook, Pinterest, Tumblr), to further spread the hashtag.

#CanYouPoleThrough community gallery can be seen on page X.

Social Media Platforms

The purpose is to encourage interactions between the brand and users on a personal level, and to encourage users to engage with the content and the hashtag, linking back to the e-commerce website, For example:

Facebook

Regular updates on new collections, lookbook, behind-the-scenes, videos.Encourage discussions about the products to gather feedback for future product development at the same time. Facebook message customers to thank customers who purchased, or send picture of handwritten message. Share community member’s videos or photos. Monthly facebook chat among community members to discuss pole matters.

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Twitter

Regular, short updates on new collections, behind-the-scenes, lookbook, and videos, always linked back to main website. Live conversation (tweet) on competitions like Pole Star Championship, or Pole SG Challenge with users. Personalised reply to mentions. Answer direct customer enquiries. Sprinkle in shout-outs for customers as personal-level interactions.

Instagram

Regular photographic updates on new collections, behind-the-scenes, lookbook, and videos. Celebrate milestones with customers esp. community members, by putting them in the spotlight, thanking them, and encouraging them to be part of celebrations, to make the customers feel valued. Contest opportunities e.g monthly challenge for users to post a short pole choreo or pole combo wearing the products with the hashtag #CanYouPoleThrough. Like and comment customers’ posts to increase interactivity. Photo coverage on pole camp, pole championship, etc.

Video Marketing (Youtube, Vimeo)

Youtube is now the second largest search engine, so having short fimls and other contents there will result in higher search engine rank. Contents include short films with narrative that supports hashtag movement. Interview with inspiring pole talents, highlighting their strength and hard work. Since pole dance places huge emphasis on flow and movement, videos are important to see the designwear in motion. It will increase desirability of the products.

Livechat (Google Hangouts)

A more modern and newer approach to social marketing, enabled by advancement in live chat technology. Google hangouts presents some opportunites for next-level community building by having face-to-face interactions and conversations between community members, pole talents, and the brand. To encourage participation, Vesper can Invite big pole stars and instructors to interact with community members. It can also be utilized as focus group whenever new campaign or products are developed.

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Public Relations

Connecting digital space and physical space

With the vision of integrated promotions, there is a need to be consistent in both digital and physical space. Through public relations activities, Vesper will bring #CanYouPoleThrough to the physical space. The suggested activities below are appropriate for the hashtag.

Sponsorship of pole camp and pole roadshow (collaboration with partner pole dance studios); Sponsorship of pole competitions, such as Pole Star, Pole Arts and Pole SG Championship; Design competition with local performing arts and design schools such as LASALLE College of the Arts, to increase awareness on pole dance; Increase promotion hashtag campaigns on social network around a timely event to create buzz, such as pole championship.

Ambassadorship

Ambassadorship means sponsorship of well-known pole stars, who embody the Vesper woman, instead of paying them to publicize the products. They should not already be ambassadors of other polewear brands. Engaging women of strength is appropriate for #CanYouPoleThrough campaign. They are the celebrities of the pole world; the main influencers of polewear trends. Sponsoring competitive pole stars also forms a positive impression on the style, quality and performance of Vesper products. They can also be invited to try on newly developed products. Being professionals in the field, their opinions would benefit the product development.

Potential brand ambassadors

These women have edgy contemporary styles that differentiate them from other pole dancers. They were champions, and they have proven to embody strength and grace in their performances.


NAOKO ENOMOTO

Miss Pole Dance Singapore 2012

VANDA SEETOH

SG Pole Challenge 2014 Winner

1,840 instagram followers

VALERIA BONALUME

Italy Pole Champion 2013 & 2014


Media Relations

The main objective of media relations is to maximise positive coverage in mass media without paying for it directly through advertising. Traditional print magazines are still important in widening audience reach, and the magazines selected have large readership. Most importantly, these magazines have similar target audience and female-oriented. They are either female active lifestyle magazines with a flair for style, female fashion magazines that have a segment on active lifestyle, or female magazines that communicate the same values.

Privileges for selected media personnels to strengthen media relations:

Free samples for photoshoots;20% discount off regular purchases;Invitation to launch events;Exclusive invitation to participate in pole camp or roadshow;Press book and printed lookbook for journalists.

List of media personnels eligible for special media privileges:

Magazine

Her World (including yearly Fit and Fab)

Shape Magazine

Female Magazine

In the Loop

Personnel

Pearlynn Tham

Li Yuling

Jeanette Eljersen

Christina M.

Position

Editor

Editor

Editor

Resident writer

Readership*

169,000

27,000

100,000

-

Fast Fact*

70% readers will pay more for quality goods.

52% readers will pay more for premium brands.

60% readers have income higher than national average.

-

*Information obtained from SPH Magazines website: www.sphmagazines.com.sg

Magazines that are not listed above are still eligible for free samples, launch party and event invitations, when deemed beneficial and appropriate.


Business Relations

The main objective of business relations is to strategically grow B2B relationship, creating a trusting, long-term commitment with retail partners. It also helps attract big players in the industry. Below are some strategies to ensure healthy business relationship:

Establish retail sales account and support team - always within reach, fast response time;

Reward program - Lower MOQ (Minimum Order Quantity), Extra credit for damaged products, cash rebate (wholesale price subject to derived demand variations) for bulk order; Consistency in quality and ranges of pole apparel; Emphasis on augmented product level - technical assistance, post-sales assistance, deliverytime.

Transparency in business dealings, financial health, etc.

Assistance on branding and visual merchandising guidelines.

Sharing of promotional materials to display in retail shop.

In the future, a sub-domain of the Vesper website for business can be created to further assist business partners and make it easier to order.

Management

Equipment & Facilities

Designer, production partner, and material supplierAgua De Alma, Jakarta

Product testing studioMilan Pole Dance Singapore

Production courier serviceRayspeed International

Local shipping service Singpost

International express courier serviceFedEx

Frequency of stock delivery to retail partnersFour times a year, local ground shipping

FOUNDERJoceline Janice K.

ASSISTANTFull-time employee

BrandManager

PRODUCTDEVELOPMENT

LOGISTIC/SALES

SUPERVISORFull-time Employee

Shipping & handling

Distribution

Customer relations

Creative direction

Work with designer

Liaise & negotiate with supplier

Overseesprototypes and product testing

Branding

Marketing contact person

Liaise with PR company

Liaise with market researcher

Online content


CHAPTER 04

THE INDUSTRYAND

THE MARKET


Business Context

The emerging popularity of pole dance in Singapore and the region

In latter half of 2014 alone, there was an exponential increase in the number of pole dance studio in Singapore. In the span of four moths, there are three times the number of pole dance studio 9 years back. Further adding to this studio, in January, a new pole studio franchise will be opened, starting things off with sold-out pole camp. The rapid increase of studios indicate two things: there are more people taking pole fitness in Singapore; and there is a general increase in awareness about pole fitness. Studio statistics also prove that pole dance as a form of fitness is starting to gain its footing in Singapore.

Furthermore, the rapid rise in pole dance as fitness is contributed to the desire for healthy lifestyle and a general increase in well-being. As Singaporeans are becoming more educated about fitness and healthy lifestyle, the traditional running and strength exercises are starting to bore them.

“There is a growing number of exercise junkies here getting their fitness fix from increasingly popular alternative sports such as aerial fitness.” (The Sunday Times, 19 October 2014)

This presents a business opportunity of polewear in Singapore to satisfy the need of the growing market.

Problem Definitions

Availability and acessibility

Despite the growing popularity of pole fitness in Singapore, acess to polewear is still limited. Currently there is only one polewear brand available in Singapore: Bad Kitty. It is sold in Milan Pole Dance Singapore and PoleLAB, as well as online through Omgoing.com. As a result, most pole dancers wear yoga attire despite the need of a perfect fit and comfort to perform pole tricks. Focus group participants agreed that tops do not really make a difference, but bottoms are very important. Pole bottoms are more comfortable than yoga bottoms or running shorts on the pole because the fit and material are designed for comfort and to maximise skin contact.

Fitting problem for Asian consumers

Asian body sizes differ from its Western counterpart, and all of polewear in the market now is designed in the West. Thus, fit and coverage might not fit the Asian market.

636members in Milan Pole Dance Studio Singapore 4 months after opening.

5,479likes on Bobbi’s facebook page.

3 timesas many classes today than there were four years ago at Acro Polates (the studio now have two different locations to accommodate the additional classes).

10 out of 40courses are fully booked in only 5 days after opening.

734likes on Indonesian Pole Dance Association page. Despite being a predominantly Muslim country, features on pole dance is aired on national TV.

Style vs. performance

Most pole wear and yoga wear brands are small independent enterprises, which means that the quality is not as good as it could be. The problem of quality also extends to lack of padding. Bad Kitty and Indi Polewear do not provide pads in their tops. Furthermore, the style of polewear is still rooted in Burlesque and exotic dance despite the rise of contemporary pole dance. Although the flirty style is fun, most customers prefer edgier, more fashionable designs. On the other hand, big sportswear brands like Nike tend to focus on performance while paying secondary attention to style. As a result, there isn’t many choices in terms of style, and they are very generic and plain.

Unimaginative designs

Competitor research also suggests that although the style is more variable, most polewear brands has a few plain “templates” of tops and bottoms in which they apply seasonal colours and prints. These templates have fixed cuts that is not flattering to all body types, and thus style is often sacrificed for comfort.

Industry’s problems

As pole brand such as Bad Kitty, Dirdy Birdy and RAD Polewear are created by practicing pole dancers initially as a side business, it is understandable that these brands are not readily available in Singapore, and are catered more towards Western and Australian market as they have no understanding of the Asian consumers. There is definitely a strong demand of polewear in Singapore, as focus group participants agree that one of the main concern about pole wear is the accessibility. That is why their favourite brand is Bad Kitty, because it’s readily available. Their second favourite brand is MIKA Yoga Wear, because it is relatively affordable compared to other specialised brands and it offers a lot of variety. The strong demand of specialised pole apparel is supported by the sales statistics at Milan Pole Dance Studio Singapore (MPDS).

Creative Solution

The main problems are the lack of availability of specialised pole wear in Singapore, the lack of quality of polewear compared to sports wear despite the more demanding and rigorous physicality compared to normal sports like running, and how the Asian values and body types differ from their Western counterparts.

The “templates” that activewear brands usually uses do not cater to different body types too. Simply providing larger sizes does not guarantee perfect fit because the body is inherently different from what the design is meant for. Market research will be conducted in order to find out whether those problems are true for majority of pole dancers, and if the growing pool of pole talents in Singapore is tappable. Most importantly, to find out what pole dancers want from their polewear to give design solution.

High Demand, Low Supply:

48%

of Bad Kitty items are sold out in 3 weeks from the time of arrival at MPDS. Out of the 48%, 68% of the sales come from shorts.

Melissa Shoes& Shu Uemurahave done collaborations with Milan Pole Dance Studio SIngapore as part of their promotions.

Cleo Magfeatured pole activities 6 months straight from Nov 2014 - Apr 2015.

The Industry and the Market The Industry and the Market Vesper Designwear 69Vesper Designwear68

“When we first started classes, many people shied away. They said it looked dangerous, even impossible. But now, there’s more awareness because of performances. People are generally becoming more adventurous when it comes to sport, and they find these classes visually impressive.”

SUZY MINGFounder of Acro Polates Pole Studio

Political

Tourism hub; only 39 countries worldwide need VISA to enter Singapore.

ASEAN is a Free Trade Area, and GST refund scheme encourage tourists to spend.

Economic

High monthly disposable income after tax: $3942.51

There’s a corresponding increase on spending for fitness: $132.12 is the average spending on fitness club membership (gym, yoga class, dance studio).

Average spending on sports good is quite high too: $135 per purchase.

Social

As Singaporeans are becoming more health-conscious, spending on fitness and wellness has become increasingly important, especially for younger and better educated consumers.

Singapore is also no longer very conservative in terms of dress code.

Willing to spend for premium brand.

Technology

71% of online shoppers aged 15-49 y.o buy clothing, footwear and sporting goods in 2011.

Singapore is No.2 country most active on social media

Online shopping in Singapore is secured and safe.

Impact on business

A lot of foreign pole dancers who are on travel business or holidays in Singapore could practice pole, and having foreign pole champions conducting workshop is common.

As most of them pack light, they may buy pole wear in Singapore. Foreigners are a potential extension of the market, and a marketing tool.

Impact on business

Market is likely to grow.High spending power affects pricing strategies of to overcome competitors and to encourage larger basket per transaction.

Increased spending on fitness also reflects an increased awareness of healthy lifestyle. As more people spend for fitness, they need the proper attire.

Impact on business

As more people spend for fitness, they need the proper attire.

Because Singapore is more open to revealing clothes, the designs can be more innovative.

As Singaporeans are willing to spend for premium brands and luxury goods, Vesper can adopt premium pricing and deliver high quality products with minimum concerns of turn-over rate.

Impact on business

As Singaporeans are becoming tech-savvy, they are more open to the idea of online shopping. For a small and new business in a niche market like Vesper, online shopping is more profitable.

Vesper can also focus on digital and online marketing, which is more cost-effective and can be more impactful than paid advertising.

PEST Analysis of Singapore as the main market

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Regional Market Attractiveness

As Singapore market is very small, Vesper will also look at the regional market. As mentioned in overseas expansion plan, Indonesia, Malaysia, Thailand, and the Philippines are of great interest due to their large market size and thriving pole and aerial scene.

Indonesia

1 Studio: Jun Ko Pole Dance Studio JakartaIndonesia Pole Dance Association

Market size •••••Spending power ••••Pole & aerial fitness •••Ease of doing business ••••Overall attractiveness •••••

Malaysia

2 Studios: Bobbi’s & Viva VerticalPole Star Championship

Market size •••••Spending power •••Pole dance activities •••••Ease of doing business ••••Overall attractiveness •••••

The Philippines

2 Studios: PoleCats & Pole Academy Philippines

Market size ••••Spending power •••Pole & aerial fitness ••••Ease of doing business •••Overall attractiveness ••••

Singapore

10 Pole dance studios

Market size •••Spending power •••••Pole & aerial fitness •••••Ease of doing business •••••Overall attractiveness •••••

Thailand

2 Studios: rumPUREE & Pole Dance School Phuket

Market size •••Spending power •••Pole & aerial fitness •••Ease of doing business •••Overall attractiveness •••

Competitor Analysis

Below are three direct competitors of Vesper, namely Bad Kitty, RAD Polewear, and Dragonfly. They are the top three brands that focus group participants (details later) mentioned. First-hand observation confirmed this. They are also available in Singapore through local stockists.

BAD KITTY

Strength

Creative designsStellar brand ambassadors: Michelle Shimmy, Marion Crampe, etc.Comfortable shorts.Affordable prices.Available locally.

Opportunities

Improvement on quality and branding.

RAD POLEWEAR

Strength

One-of-a-kind designs. Sexy and flirty branding is appealing to some people. Affordable prices.Famous brand ambassadors e.g Vane Lunatica

Opportunities

Improvement on quality and branding.Diversification of product range.

DRAGONFLY

Strength

Superior quality at price range.Affordable.Signature offering: one-shoulder design, very memorable.

Opportunities

Ambassadors, more promotional activities.Diversification of product range.Re-branding to be more exciting.

Weaknesses

Inconsistent quality: shorts have very high quality; tops are lower in quality with no pads, over stretchy band, and obvious stitches.Branding seems tacky, may turn off some people. No lookbook or catalogue.

Threats

Competition from brand with similar brand image, product offerings, and price range. Most notably RAD Polewear and Dirdy Birdy.

Weaknesses

Small product ranges.Low quality and thin fabrics.Branding may seem tacky.No lookbook or catalogue.Often mistaken with RARR due to similar name and branding.

Threats


Weaknesses

Utilitarian, unmemorable branding.Fabric might be too soft and does not give good grip on stainless steel.Small product ranges.Almost no promotions.

Threats

Competition from brand with similar brand image, product offerings, and price range. Most notably Lei Voila.

Since these to brands are Western, the main weakness lies in the lack of promotion in Asia and how the products are not catered with Asian consumers in mind. Vesper will offer more fashionable products that focuses on the different Asian body types and maximise local and regional promotional activities and channel of distribution.


Full Competitor Comparison

Below are Vesper’s strategic plan in relation to selected direct and indirect competitions.

Sports bra

Tank tops

Shorts

Leggings

Accessories

Streetwear

Costume

Removable Pads

Support

Material

Sizing

Washing Machine

Tumble Dry

International shipping

SG online stockist

Retail store

Retail stockists (Singapore)

Avg retail price

Discount

Wholesale

Lookbook

Ambassador

Print Media

Facebook

Twitter

Instagram

Youtube

r

Light-medium

80% Nylon20% Spandex

XS/S - M/L

r

$55

r

r

r

r

Light-medium

80% Polyamide20% Elastane

XS - XL

r

r

r

r

$40

r

r

r

r

r

Light-medium

80% Nylon20% Elastane

XS - XL

r

r

r

r

r

$50

r

r

r

r

r

r

r

Light-medium


XS - L

r

r

r

r

$66

r

r

r

r

r

r

r

r

r

Light-medium

SupplexLycra

XS -XL

r

r

r

r

r

$50

r

r

r

r

r

Bad Kitty Dragonfly RARR RAD Polewear Dirdy Birdy

r

r

r

r

r

Light-medium

SwimFabric

S-M

r

r

r

$53

r

r

r

r

r

r

r

r

r

r

r

Light-medium

Lycra

XS -XL

r

r

$69

r

r

r

Light-medium

Perfit

XS -XL

r

r

r

$40

r

r

Light-medium


XS -L

r

r

$120

r

r

Light-medium


XS -XL

r

r

r

$75

3rd Year

3rd Year

3rd Year

3rd Year

Most use nylon/spandex mix

Being based in Singapore, Vesper will have bigger Asian presence.

Vesper’s pricing is higher due to higher quality and better designs.

Vesper will separate itself from competitors through creative promotions, unique contents, and widerpromotional channels.

Liberty Studio Indi Polewear MIKA Michi Vesper Note


Vesper Designwear76

Positioning Map

Multi-dimensional map against competitors

Fiercest competitors are identified as Dragonfly, Bad Kitty, and RAD Polewear. To surpass the competitors in the next five years, Vesper plans to maximise all aspects of its marketing mix. Where Vesper might not have as much range of products as its competitors, it will compensate with higher quality and more sophisticated, well-fitting designs. In terms of pricing, Vesper’s premium price will elevate the image from the competitors and make the products more desirable. Being based in Singapore, Vesper will have larger Asian presence. The fiercest competition will come from Bad Kitty, which is also easily available online and physically in Singapore. What ultimately differentiates Vesper from its competitors is the promotional plan. Unlike the competitors which rely on the burlesque image of exotic dance and mouth-of-word within the niche market, Vesper will create an integrated online campaign which not only promote the brand but also pole dance as arts and fitness, which in the long term will help develop the pole industry and the market.

Products

Dragonfly

Bad Kitty

RAD Polewear

PricePlace

Promotion

Perceptual Map against competitors

Low Price

High Price

Lululemon

Lorna Jane

NIKE

Adidas by Stella Mc Cartney

Lucas Hugh

Olympia Full CourtMichi

Bad Kitty

Liberty Studiowear

Forever 21 activewear

H&M activewear

Dragonfly

Indi PolewearK. Deer

RAD

RARR MIKA

Onzie

High QualityLow Quality

In the pole dance market, Vesper will fill in the gap for contemporary fashionable activewear with a focus on product quality, especially in terms of pole and aerial arts. With unrepeated designs and seasonally launched collection, it will have a similar proposition to Adidas by Stella McCartney. Although Vesper adopts premium pricing strategy, it is different from luxury sportswear brand such as Michi, Olympia, Full Court, The Upside, and Lucas Hugh.

Luxury sportswear, with fashionable designs and premium price.

“Indie” activewear and polewear with fun designs and higher quality than that of Bad Kitty’s group.

Performance-focused group, with their own fabric and patented technology. Price ranges from medium to high.

The value-for-money cluster, which consists of affordable sports wear with medium quality. The designs are typical sportswear. Affordable pricing is enabled by mass productions.

Popular choices because they are affordable and have more designs than common sportswear like NIKE. Usually have naughty and playful image.

Vesper Designwear 77

SWOT & TOWS ANALYSIS

Strength

Better understanding of the Asian pole market.

Connection/inside network to pole community in Singapore.

Strong branding.

Quality products, premium image.

Weaknesses

Product development in Singapore is expensive, need to outsource.

Brand is not established, need to gain consumer trust.

Market is niche, doesn’t have the advantage of economies of scale.

Opportunities

Develop pool of pole dance talents.

Regional & International expansion.

Advancement in technology means advanced product development.

Government incentives for start-up.

Threats

Competitions from brand with similar price point.

Customers able to substitute products.

ST

Due to better understanding of regional market and insider network, Vesper has leverage against competitors.

Different style & branding separate Vesper from competitors.

WT

Create products that are desirable not just because of the product features.

Create a strong branding that will create an emotional resonance with the customers.

Have no reason to substitute or switch brand.

SO

Strong message behind the brand to attract consumer to pole dance.

Inside connection to pole dance industry means getting valuable expert opinions for PD.

Partnering with studios are easier.

WO

When needed, government incentives help expansion strategy.

Regional expansion will help cement the brand position in the market.

Increased revenue from expansion will help sponsor advanced product development.

COMPETITIVERIVALRY

Threat ofnew entry

Threat of new entrants

• Low cost• Experience

needed• Connection

needed• Economies of

scale needed to lower costs

Competitiverivalry

• Only few strong competitors

• Specialised products

• Moderate loyalty of customers

• Low switching costs

Buyer power

• Few quality brands• Brands not easily

available• Not price sensitive• Moderate brand

loyalty• Ability to substitute• Their demands drive

the products

Supplier power

• Many numbers of suppliers

• Similar quality• Able to substitute

Threat of substitution

• Not many good substitutes of polewear

Threat ofSubstitution

SupplierPower

BuyerPower

o

–


Consumer Analysis

The objective of consumer analysis through primary research is to understand the demography, behaviour, and psychography of Vesper’s target market.

Methods of Inquiry

Qualitative Research

Focus group of 7 participants includes studio owner, studio manager, pole instructor, 3 intermediate students, and one beginner.

In-depth interview with MPDS studio manager, Yumi Pong.

Quantitative Research

30 Questionnaires collected from 15 beginners and 15 intermediate-advanced students collected over the span of 7 days and four classes.

53 Online questionnaires collected from non-pole women.

Secondary Research

The data was obtained from having the administrative pass to students’ data on MPDS system.

Demographic Analysis

3% 40-50 years old

44% 30-40 years old

53% 20-30 years old

Data is obtained from MPDS Database

Generally, female pole dancers are in their 20s to 40s. While the focus group age ranges between 24 to 35, the bulk of pole dancers are in their early 20s to late 30s (they made up, although there are a few that are in their 40s. The oldest known respondent in questionnaire is 42 years old.

In Singapore, 20-50 years old is also the prime age group for Singapore’s economically active population, which means majority of the respondents have stable job and thus stable income to be able to spend on pole classes and pole wear.

In terms of level, there are more intermediate level students, followed by basic level, and advanced level. There were less than 10% advanced ladies as the tricks were exceptionally hard and there need to be high level of flexibility and body awareness. The levels are judged based on the difficulty of tricks mastered. Once a student achieved her invert, she is considered intermediate level, hence the higher number of intermediate students. The result is a skewed pyramid on the side.

Basic

Intermediate

Advanced

Beginners’ level diversified by age Intermediate-advanced level

1% 40-50 y.o 6% 40-50 y.o74% 20-30 y.o 42% 20-30 y.o

25% 30-40 y.o 52% 30-40 y.o


Behavioural Analysis

They have more than they need

Although on average they train only 2-3 times a week (except for some who trained almost everyday), more than half of the respondents have more than 10 pieces of pole wear or sports wear reserved for pole dance. Infrequent laundry is one of the reasons why they buy more than they need. Personal gratification and mood are other reasons why pole dancers buy pole wear not necessarily out of need.

““A pole dancer can never have too many sets.” Celeste Wang“I’m guilty of spending more than I should. I buy when I see something nice.” Tracy Mak“You can’t get the shopaholic out of a girl.” Lim Pei Yi

7% 2-3 times a month20% Once a week

73% More than once a week

0% Once a month

0% Less than once a month

How often do you pole?

Online Shopping is more common than physical shopping

All participants of focus group claim that they prefer shopping online, because pole wear is not very accessible physically. They are also studio-loyal, so visiting other studios for pole wear is a no. They are also comfortable with not trying before buying. The reasons they give include the stretchable material of pole wear, which makes the sizing more flexible. Having looked at or tried friend’s pole wear in person is another reason why sizing is not a major problem.

“A physical store is interesting but not necessary.” Vanda Seetoh

20% Retail store 80% Online store

Where do you usually buy your pole apparel?

Online favourite stores

Most participants answered Urban Slings, OMGOING, FitFlyWear, and MIKA Yogawear as their favourite online stores.

Big basket size per purchase

Because they usually buy from international online shop, they did not purchase very frequently. The average time is once a month. However, they would buy 2-3 pieces at any one time. They spent an average of $50-$70 a piece, although the maximum amount they are willing to spend is different for each type of items. The high unit per transaction is to save on shipping costs and waiting time per piece.

“I usually buy together with friends and we buy a lot so we can save on the shipping cost. The best time is to buy during sales like Black Friday.” Pei Leng

Maximum spending power

On average they are willing to spend $51-$70 for a top, below $50 for a shorts, and $71-$100 for a leggings. However, focus group participants had said that it depended on the quality and design as well. They are willing to spending more for premium brands that can last a while, like Lorna Jane.


47% Less than once a month33% Once a month

20% More than once a month

27% $71-$100

33% Below $50

40% $51-$700% Above $100

How much are you willing to spend for a top?

How often do you purchase polewear?

27% $71-$100

7% Above $100

47% $71-$100

33% Below $50

13% Below $50

40% $51-$70

33% $51-$70

0% $70-$100

0% Above $100

How much are you willing to spend for shorts?

How much are you willing to spend for leggings?


They are not brand loyal

Pole wear brands retail at similar price range, so do sportswear brands such as NIKE, Adidas, and Lululemon. This often means that one person would have a few pole wear from a a few different brands. Of course, they still have their favourite brands, but they are open to new pole wear brand, because there is not many in Singapore market, and “will get what they could”. They are also open to experiment on unique, unusual designs.

They buy peripheral items too

Pole dancer do not just need a separate bra top and a bottom. Depending on the class, most of them have legwarmers, knee protectors, socks, leggings, and capris, and outerwear. More than half of focus group participants would wear outerwear (tank tops, crop tees, etc) before the class starts.

“We do class with a lot of girls. I’m sure everyone wants to look good.” Tracy

Psychographic Analysis

Reasons for joining pole and aerial classes

The objective of pyschographic analysis is to find out what exactly is lacking in pole wear today, and what the polers want from their pole wear. Thus, questioning their motivations and how they wanted to feel on the pole is appropriate. Most clients at MPDS are career women (although there are housewives too). Their jobs vary tremendously from cabin crew, corporate lawyer, air traffic controller, to nurse and doctor.

An in-depth interview with Yumi Pong, manager of MPDS, reveals how women felt connected to the pole.

“I was an art teacher I was at the lowest point of my life and I was doing stuff that wasn’t good for my body. When I realised I had to get myself together I started going to the gym to be fit. It was tiring and it wasn’t fun; I always counted down to the moment it would be over. I tried dance too and even then, it wasn’t exciting enough. Then I discovered pole dance. It was painful and challenging but it’s a new experience and it felt good. Before I knew it, one hour was over. After I finished my first class, I was strangely addicted.”

Like Yumi, for most polers, pole fitness is a fun exercise that differentiate them from their peers while getting fit at the same time. The two attributes can’t be separated.


It is fine to express sensuality

Ms. Pong also noted that sexy and strong are always interconnected as strong may mean inner femininity. Creating a pole brand that is too conservative might alienate advanced girls who are comfortable with revealing outfits.

“In the gym, the more you train the easier it gets. Pole is constantly challenging as there are always new, harder combos and tricks to master. That’s why it’s fun.”

There is a difference about being sexy and performing a sexy routine. Pole dance is actually about embracing your inner sensuality. It’s empowering. Kinky outfit is just part of the job. You need the skin to perform tricks.Yumi Pong, MPDS Studio Manager

12% Lose weight

63% Fun!

25% Differentiate from peers

8% Feel Sexy

What motivates you to do pole and aerial fitness? The fact that students want to have fun while exercising is also reflected in how classes like exotic dance and lap dance are filling up faster than other classes. While the majority of students want to feel strong, others want to feel sexy. However, except for a notable few who is comfortable with being sexy, most polers, even the advanced ones, tend to shy away from overly sexy designs that emphasize cleavage. “Wardrobe malfunction” is one of the concerns of sexy designs. Still, to be able to maximise the market potential, Vesper has to recognize that some women does want to feel sexy.

“I believe everyone has a little bit of naughtiness in them. For me pole dance is a way to unleash mine. I don’t think I’m sexy, but sometimes I want to feel sexy. And I see a lot of women having fun on the pole too.”Khadijah Bietz, Housewife

The Industry and the Market The Industry and the Market

Concerns and desire on current polewear brands in the market

Concerns varied according to the levels. Beginners tend to worry about the coverage, and go for longer shorts (like running shorts) because they feel they don’t have the body to “rock” brazil shorts. Intermediate and advanced girls are more concerned about the lack of variety of designs and availability in Singapore.

Although the concerns are generally personal and they vary from level to level, there is a surprisingly simple underlying desire from the majority of pole dancers: flattering fit. This is because women are blessed with different body shapes (some with wider hips, bigger breasts, etc), and a one-style-fits-all nature of most pole wear brands often does not work. Having a wide range of sizes does not solve the problems too, because the cut is still not flattering and may squeeze the body in awkward places. Providing a variety of design that flatters different body shapes also help to solve the problem of personal body-shaming that beginners tend to have.


It has to be flattering. I have big hip and small waist so I have awkward sizing. I also want more tops for people with no boobs. Yumi Pong, MPDS Studio Manager

No love handle, no muffin top, no camel toe, no side boobs. No squeezing in weird places. Style-wise I want it to be edgier. I think people like to show off what they wear in the pole community.Tracy Mak, MPDS Studio Co-owner

I come to train everyday so I think of pole wear as my normal outfit. It will be good if it can be a bit more fashionable, like high neck top with open back. It look so stylish!Vanda Seetoh, Pole Instructor

Decent shorts. I still don’t get why we need to show off our butt cheeks to each other.

Abby Ng, Pole Beginner

Most of us, women in general, have self-esteem issues to a certain degree. When I just started out I felt the need to cover up because I was afraid of people judging me. But at some point, I focused less about myself and more about mastering the tricks. I came to realise that nobody cared how I looked like–they were more focused on the pole than comparing sizes with other people. As I progressed I started to wear less without realising. But of course, there’s a limit to the amount of skin that individuals are comfortable showing. Being confident and comfortable is the most important.

Yumi Pong


What is lacking from the current polewear brands?

How often do you exercise?

Would you support new pole and aerial apparel brand?

0% Sizing

0% Price Range

0% Yes

0% No

On new polewear brand

The majority of questionnaire respondents feel that stylish designs are lacking in the current polewear industry. A small percentage still have concerns over the functionality of polewear, especially in terms of comfort. When asked if they want to see a new polewear brand, focus group participants synonymously answered yes, while questionnaire respondents feel that it depends on the products and the price range.

13% Functionality

11% Regularly45% Seldom

33% Depends on price range

87% Design

11% Monthly9% Bi-weekly

25% $Weekly

40% Depends on products

Secondary Market Analysis

Because the market is already small as it is, any possible extension of the market is considered.

Survey Analysis

53 Questionnaires collected.

RESPONDENTS PROFILE

100% Female19% Age 16 - 2081% Age 20 - 30


They have more sportswear than they use

Although almost than half of them (43%) only exercise when they feel like it (no regular pattern), they have on average 3-5 sets. Again, irregular laundry was one of the reason, and seeing something that they like was another cited reason. Good designs might motivate these consumers to purchase sportswear.

“Sometimes I see cute sports bra and I just buy it. I secretly hope it will motivate me to exercise.” - Shiqian Pan, architecture student.


How many sportswear do you have?

What’s the average price you are willing to spend for an activwear?

6% >10 sets

6% >$100

9% $100

43% $50

28% 1-2 sets

42% $30

51% 3-5 sets

They spend less than people who are active

Predictably, they are not willing to spend as much as people who actively do pole dance, or other exercises.

Potential conversion of secondary market to primary market

The main objective of these questions is to know the potentiality for these people to take up pole fitness, and thus the primary market potential growth.

Their impression of pole dancing is well divided between sexy and difficult. Sexy is a common perception of pole dancing because of its association to striptease and night club. When asked if they will try pole dancing, 38% firmly said no, but 72% might try once. Out of the 72% who said they might, 32% were more enthusiastic about it. Although the percentage is not very high, it shows that the pool of pole dancers is still growing.

What is your impression of pole dance?

19% Interesting42% Sexy

40% Hard

Interestingly, more than half of the respondents have tried or are practicing yoga/pilates, while 6 people have tried pole fitness before. Dance like Zumba, Salsa, and Jazz is also a popular form of workout. Just like how polers can wear yoga wear, yogi can wear pole wear as well. These people, who engage in medium-intensity exercises, are definitely secondary market that Vesper will tap into.

9% 6-10 sets


Will you try pole classes?

Which activities are you doing regularly/have tried before?

PoleFitness

5 10 15 20 21

Yoga orPilates

RPMSpinning

DanceWorkout

No. of respondents

Never

Aerial

30% No32% Yes

38% Maybe once

Market Segmentation

From the above profile and psychographic analysis, the consumer behaviour indeed mirrors the level they are in. Therefore, potential customers can be divided into the following categories, with larger number of beginners.

Mostly pole beginners in their mid-late 20s. They do not always have fit and toned bod-ies. As they are just starting out, they usually train once a week. They wear standard exercise gears like NIKE, Adidas, and Cotton On Body. They own 3 sets on average. Main motivation is to get fit.Main concerns are coverage and their own body consciousness.Tend to cover up with tank top and T-shirt, and longer shorts.

Intermediate to advanced level pole dancers in their late 20s to early 40s.Usually wear yoga/activewear, sometimes polewear (depending on style & preferences). Bad Kitty, MIKA, and Lululemon are common.Motivation: to have fun, to differentiate them-selves from their peers, to feel sexy.Main concerns: lack of availability and variety of pole wear in Singapore.They wear more revealing attire, like adjust-able yoga string shorts, comfortable bearing butt cheeks and midriffs.

CASUAL POLERS POLE ASPIRERS


Mostly pole beginners in their mid-late 20s. Advanced to professional level including pole figures and instructors. They train everyday.Usually wear international pole wear brands (might be sponsored) like Bad Kitty, RAD Polewear, Dirdy Birdy and Dragonfly. Only occassionally do they wear yoga attire. Own more than 10 sets. Motivation for pole: passion. Pole has become their life.Main concerns: design and how it affects their image.Comfortable in very revealing attire. Midriffs and butt cheeks visible most of the time.

POLE JUNKIES

Targeting: all three segments.

Due to the already niche nature of the pole market, Vesper will target all three identified segments. This is so that the market can be maximised for the brand future growth and sustainability in the long term. Not forgetting that one day, the casual polers will level up to the pole aspirers, and most of them will be the pole junkies. As the community is also tight-knit, their preferences and style are influenced by each other.

The three targetted segments have the need of pole wear regardless of their levels, although the aspirers and the pole junkies would purchase more.

SECONDARY MARKET

People who practices Yoga (especially Bikram Yoga) as the top is interchangeable

Female aged 20-40 whose personal style is sporty

Female aged 20-40 who exercise regularly

To women who took up pole dance and aerial fitness in Singapore, Vesper is a premium designwear which create sophisticated products to accommodate different body types and the rigour of pole movement. Not only will pole dancers feel comfortable and secure on the pole, they will also look and feel their best.

POSITIONING STATEMENT


CHAPTER 05

FINANCIAL PLAN

Financial Summary

YEAR 1

Introduction Stage

Launch brand on e-commerce websiteLaunch brand at authorized studio resellersPilot community programmeLaunch of online campaignGathering initial feedbackStrategy adjustment

DISTRIBUTION CHANNELS

E-commerce2 Pole Studios2 Yoga Studios

Market Share: 10%Target sales: 5,200 pcsRevenue: SGD 33,366

YEAR 3

Growth Stage

Addition of 3 product linesVenture to department store and specialty storeRetain existing customers & heavy promotion to expand customer base


E-commerce2 Pole Studios2 Yoga Studios1 Department store on 30% Consignment terms1 Specialty store on 30% Consignment terms


YEAR 2

Introduction - Growth Stage

Continue growth momentum2 Additional RetailNew campaign launchEstablish brand nameExpand customer base




YEAR 4

Growth Stage

Further voray into department storeNew technology for product developmentRetain existing customers & heavy promotion to expand customer base


E-commerce3 Pole Studios3 Yoga Studios2 Department Stores on 30% Consignment Terms1 Specialty Stores on 30% Consignment Terms


FInancial Plan Financial Plan Vesper Designwear 103Vesper Designwear102

YEAR 5

Growth Stage

Overseas expansion to four different countriesRetain existing customers & heavy promotion to expand customer base


E-commerce3 Pole Studios3 Yoga Studios2 Department Store on 30% consignment terms1 Specialty Store on 30% consignment terms4 Overseas Pole Studios


Year 1 Sales Budget

Bra Tops

10

20

30

40

50

60

70

90

80

100

110

120

130

140 40%

10%

30%

20%

150

Tank Top Shorts Leggings

Reven

ue (

in t

ho

usa

nd

s o

f S

GD

)

Mark up

5xAvg. Price/Unit

$75Revenue

$326,000Qty sold in Y1

5,200 pcs


Start-up Budget

Capital

Registration & Incorporation

of Private Company

SGD 80Administrative Expenses

SGD 200Branding

SGD 1,000Rental Deposit

SGD 4,500

Initial Stock

SGD 19,560

Website Developer

SGD 5,000

Domain

SGD 10

Transport

SGD 1000Fixed Assets

SGD 7,700

SGD 39,050

SGD 50,000



Y1

100

200

300

400

500

600

700

800

900

1000

Y2 Y3 Y4 Y5

BRA TOPS (30%)

SHORTS (23%)

LEGGINGS (19%)

TANK TOPS (13%)


COMBINED REVENUE



$252,340

$ 1,005,003

Qty sold in Y5

16,020 pcs

Reven

ue (

in t

ho

usa

nd

s o

f S

GD

)FInancial Plan Financial Plan Vesper Designwear 107Vesper Designwear106

Year 1 Year 2 Year 3 Year 4 Year 5SalesTop-Bra (40%) 130,400 175,920 169,740 215,100 290,250 Top-Tank (10%) 32,600 43,980 73,554 93,210 125,775 Bottoms - Shorts (30%) 97,800 131,940 130,134 164,910 222,525 Bottoms - Leggings (20%) 65,200 87,960 107,502 136,230 183,825 Acessories 16,974 21,510 29,025 Costume 28,290 35,850 48,375 Streetwear 39,606 50,190 67,725 Consignment Sales - - 18,900 28,350 37,800 Total Sales: 326,000 439,800 584,700 745,350 1,005,300

Less: Cost of Top-Bra (Variable) 31,200 60,458 56,881 67,392 97,322 Cost of Top-Tank (Variable) 7,800 15,115 24,649 29,203 42,173 Cost of Bottoms - Shorts (Variable) 23,400 45,344 43,609 51,667 74,613 Cost of Bottoms - Leggings (Variable) 15,600 30,229 36,025 42,682 61,637 Cost of Accessories 5,688 6,739 9,732 Cost of Costume 9,480 11,232 16,220 Cost of Streetwear 13,272 15,725 22,708 Total Cost of Goods Sold 78,000 151,146 161,164 190,944 275,744

Gross Profit 248,000 288,654 423,536 554,406 729,556

Less: Operating ExpensesFixed CostsRental Cost (Space Business Centres) 18,000 18,000 18,000 18,000 18,000 Staff-Fixed Salaries (includes CPF) - assistants@$2000/month + $3600/month for Joceline 69,600 69,600 98,400 98,400 98,400 Accountant (Corporate Secretary) 1,000 1,000 1,000 1,000 1,000 Utilities - $300/month 3,600 3,600 3,600 3,600 3,600 Repairs & Maintanance 500 500 500 500 500

Internet wi-fi $49.90/month, rounded up to $50 600 600 600 600 600

Communication & Telephone - landline $50/month 600 600 600 600 600

Travel & General Transport ($400/month) 4,800 4,800 4,800 4,800 4,800

General and Administrative ($200/month) 2,400 2,400 2,400 2,400 2,400

Depreciation of Fixed assets 1,540 1,540 1,540 1,540 1,540

Insurance Cost 500 500 500 500 500

Start-up costs 7,290 - - - -

Variable CostPromotional Budget - 20% of sales 65,200 87,960 116,940 149,070 201,060 Selling & Distribution - 5% of sales 16,300 21,990 29,235 37,268 50,265 Staff Commission (AWS) 5,600 5,600 8,400 8,400 8,400 Other Variable Costs (3% of sales) 9,780 13,194 17,541 22,361 30,159

Operating Profit 40,690 56,770 119,480 205,368 307,732 Less Interest Costs (Fixed)

- - - - - Net Profit Before Tax 40,690 56,770 119,480 205,368 307,732 Less: Taxes (18% X NPBT) 7,324 10,219 21,506 36,966 55,392 Net Profit After Tax 33,366 46,551 97,974 168,402 252,340

Profit & Loss Statement

Profit Margin

Year 1

10.2%Year 2

10.5%Year 3

16.8%Year 4

22.6%Year 5

25.1%


Year 1 Year 2 Year 3 Year 4 Year 5

Beginning Cash Balance - 34,390 76,272 175,481 348,031 Initial Paid-Up Capital/Contribution 50,000 - - - - Total Sales:92% of Total Cash Sales 299,920 404,616 537,924 685,722 924,876 80,424 8% of Total Credit Sales 26,080 35,184 46,776 59,628 Total Bank Borrowings - - - - - Increase in Current Liabilities - - - - - Cash Available 349,920 465,086 649,380 907,979 1,332,535

Less: Cash PaymentsCost of Purchases100% Cash 78,000 151,146 161,164 190,944 275,744 Rental Cost 18,000 18,000 18,000 18,000 18,000 Staff-Fixed Salaries 69,600 69,600 98,400 98,400 98,400 Accountant 1,000 1,000 1,000 1,000 1,000 Utilities 3,600 3,600 3,600 3,600 3,600 Repairs & Maintanance 500 500 500 500 500 Internet 600 600 600 600 600 Communication & Telephone 600 600 600 600 600 Travel & General Transport 4,800 4,800 4,800 4,800 4,800 General and Administrative 2,400 2,400 2,400 2,400 2,400 Insurance Cost 500 500 500 500 500 Start-Up Costs 7,290 - - - - Promotional Budget 65,200 87,960 116,940 149,070 201,060 Selling & Distribution 16,300 21,990 29,235 37,268 50,265 Staff Commission 5,600 5,600 8,400 8,400 8,400 Other Variable Costs 9,780 13,194 17,541 22,361 30,159 Total Interest Costs - - - - - Tax Payments - 7,324 10,219 21,506 36,966 55,392Purchases of Computers & Printers (Fixed Asset) 7,700 - - - - Beg. & Ending Inventory Amount 19,560 - - - - Rental Deposit 4,500 - - - - Total Cash Payments 315,530 388,814 473,899 559,948 732,994

Ending Cash Balance 34,390 76,272 175,481 348,031 599,540









Cash Budget



AssetsCash 34,390 76,272 175,481 348,031 599,540 Accounts Receivable 26,080 35,184 46,776 59,628 80,424 Inventory 19,560 19,560 19,560 19,560 19,560 Rental Deposit 4,500 4,500 4,500 4,500 4,500 Total Current Assets 84,530 135,516 246,317 431,719 704,024

Fixed AssetsComputers and Printers 7,700 7,700 7,700 7,700 7,700 Less: Accumulated Depreciation 1,540- 3,080- 4,620- 6,160- 7,700-

Total Assets 90,690 140,136 249,397 433,259 704,024

LiabilitiesSupplier Credit/Accounts Payable - - - - - Current Liabilities - - - - - Taxes Payable 7,324 10,219 21,506 36,966 55,392 Borrowings From Banks - - - - -

Total Liabilities 7,324 10,219 21,506 36,966 55,392

Shareholders' FundsPaid-Up Capital 50,000 50,000 50,000 50,000 50,000

Retained Earnings 33,366 79,917 177,891 346,292 598,633

Total Liabilities & S/H Funds 90,690 140,136 249,397 433,259 704,024




Total Assets 90,690 140,136 249,397 433,259 704,024









Total Assets 90,690 140,136 249,397 433,259 704,024






Liquidity Ratio

Debt Ratio

Book Value per Share

11.54

8.08%

1.67

13.3

7.29%

2.60

11.45

8.62%

4.56

11.68

8.53%

7.93

12.7

7.87%

12.97

Balance Sheet


CHAPTER 06

VISUALIDENTITY

Visual Identity Visual Identity Vesper Designwear 117Vesper Designwear116

Vesper Designwear 119Vesper Designwear118 Visual Identity Visual Identity

x

x

x

2x


3X 2X

X

2X

8X

X

X


8x

x

8x

x

5x


PANTONE BLACK - 90%

CMYK 0, 0, 0 , 10 0RGB 0, 0 , 0

PANTONE SILVER - 100%877C

CMYK 0, 0, 0 , 40RGB 0, 0 , 0


Vesper Designwear


Vesper Designwear 1

Vesper Designwear2


BA(HONS) FASHION MEDIA AND INDUSTRY

2015

Vesper is a brand for all female pole dancers.

“We, as women, are discouraged so often from being comfortable with ourselves. Women held up their outside title, meaning how they believe others see and perceive them. Their name, their gender, their profession,

that’s their label, how others see them.

And the pole is their inside world.”

Julia Roth

Filmmaker


CHAPTER 01

EXECUTIVESUMMARY

Business description

Vesper designwear is a premium brand of activewear which offers a range of tops and bottoms especially designed for pole and aerial arts and other medium-intensity exercises for modern women who value active lifestyle. Pole and aerial arts are different from other exercises. They are more demanding due to the anti-gravity nature of the sports, they trained not only endurance but also strength and flexibility, and they have a certain element of performance. Thus, unlike most other activewear, Vesper designwear was especially developed through extensive research and user-testing to best acommodate the nature of pole and aerial arts. Vesper understands the desire of these women to not only look good, but also feel good when exercising. With a strong focus on clean lines, the designs has a perfect fit to different types of the feminine body, and also reflect the grace, sensuality, and stylishness of pole and aerial arts. Vesper designwear is available through www.vesper.com and select stockists, which include internationally renowned pole dance studios and concept stores around Asia.

Business context (problems & solutions)

Despite the increasing popularity of pole dance in Singapore and the region, polewear is not widely accessible. In Singapore, only a few polewear are distributed locally: Indi Polewear, Bad Kitty, and Dragonfly, and only Bad Kitty are available physically. Thus, there were not many choices in terms of style and designs. Most pole dancers sought yogawear in place of polewear. While yoga top can be used as pole top, yoga bottoms are slightly different from pole wear in terms of material and proportion. This is because skin contact is of utmost important for pole fitness, and thus it has some specific requirements. Other pole dancers have actively sourced their pole wear overseas, incurring high shipping costs and enduring long shipping time in the process. Thus, being based in Singapore, Vesper is highly accessible and available for pole dancers in Singapore.

Target market

Vesper’s primary target market is women in their 20s to 40s who actively took up pole and aerial arts as a form of fitness in Singapore and the region. It is forecasted that at least 50%-60% of Vesper’s sales will come from this segment of the market. Vesper’s secondary market, which are women of similar age group who took up other medium-intensity sports such as RPM, cardio barre, yoga, and pilates, will be a prominent and profitable market as well. Vesper’s secondary market extends to ordinary women who just liked to dress up sporty, as sportswear has become a major trend in fashion lately. Together, it is estimated that the market size amounts to 3000 people, and the number grows each year.

Competitors

Vesper’s biggest rivals were identified as Bad Kitty, Dragonfly, and

RAD Polewear. Bad Kitty is the current market leader as it is the first polewear brand to enter the market, and thus has a certain credentials. However, the products are inconsistent in quality and it is still rooted in the striptease origin of pole dance. Vesper aims to replace Bad Kitty as the current market leader by offering alternative style and higher quality products.

Competitive Advantage

Vesper differentiates itself from its pole wear competitors in terms of availability, knowledge of the Asian consumer, design and style. Vesper’s main strategy is to be a brand that has an emotional connection to the brand, and create products that are not only high quality but highly desirable. Vesper’s style is best described as the right balance between athletic and graceful, and it has a contemporary fashion proposition. Other competitors. such as Bad Kitty, has their roots in striptease, burlesque and exotic dance, and thus sexy and costumesque. Sometimes, it does not fit the more reserved Asian values.

Positioning statement

To all women in Singapore who practice pole and aerial arts, Vesper is a brand that offers well-fitting and unique designs that accomodate the anti-gravity nature of pole and aerial activities, so that they will not only look good but also feel good on the pole.

Mission statement


Value proposition


Unique Selling Proposition

Well-fitting pole wear with contemporary fashion proposition.Created with to accomodate the nature of pole & aerial arts.Graceful, sophisticated style that gives a new perspective to pole dance.

Team

Vesper is headed by founder Joceline J.K, who will directly be in charge of all aspects of the brand, the product development, and the logistic aspect. As the business expands, a general assistant will be the right-hand man and a full-timer will supervise logistics and sales.


Operations

Productions and designs will be handled by production partner based in Jakarta, Agua de Alma. Milan Pole Dance Studio Singapore will be the official studio partner for product testing. Various courier services will also be used to accomodate shipping internationally and locally.

Primary Market

Singapore and ASEAN region.

Main Distribution Channel

E-commerce and authorized studio resellers.

Milestones

In the first year of operation, Vesper planned to focus on its online business and gained 10% of the market share. Vesper will slowly expand to phsyical retail through wholesale, with local pole dance studios such as Milan Pole Dance Studio Singapore and yoga studios such as Yoga Inc. as the prospective buyers. The third year marked Vesper’s expansion to department stores and concept stores in Singapore. After the success of the initial local expansion into retail spaces, Vesper planned to expand overseas, firstly to neighbouring countries such as Malaysia, Indonesia, the Philippines, and Thailand. It will cement Vesper’s position as the market leader of pole wear industry and the market share was projected to reach 25%.

Further details on management and operations are available in Chapter 03: Strategic Plan.

Further details on business context, target market, and competitors are available in Chapter 04: The Industry and the Market.

Further details on the milestones and financial plan are available in Chapter 05: Financial Plan.



Y1

100

200

300

400

500

600

700

800

900

1000

Y2 Y3 Y4 Y5

BRA TOPS (30%)

SHORTS (23%)

LEGGINGS (19%)

TANK TOPS (13%)


COMBINED REVENUE



$252,340

$ 1,005,003

Qty sold in Y5

16,020 pcsR

even

ue (

in t

ho

usa

nd

s o

f S

GD

)


CHAPTER 02

BRANDOVERVIEW

Brand Story

The Vesper Brand

Vesper Designwear is a premium activewear brand created by female pole dancers for female pole dancers.

In the early 20th century, pole and aerial arts started as sports for men. After gaining negative perception due to its incorporation in burlesque and exotic dance such as circus act, stripping and lap dance, it went back to its roots as an alternative fitness for women for its apparent benefits in strengthening the body and increasing flexibility. Just like any other sports–or even more than any other, pole dance requires stamina and perseverance. Furthermore, the anti-gravity nature and the need for fluidity of body movements mean that pole fitness can be more demanding than other fitness forms.

However, pole dancing are still often associated with night club, striptease, porn and pleasure due to its revealing outfits. Pole dancers often carry the stigma of a lecherous women. This is, however, was a misconception. The fact that the little coverage of polewear was necessary for skin contact, a very technical aspect of pole dance, was always missed out. Thus, doing pole dance is always associated with being sexual. The way of seeing the body as a sexual object is a disrespect to the strength of these women. Sexuality is inherent in every person and owning it should not be embarassing. In fact, sexuality is just part of the sum.

A peek into the life of these pole dancers reveal why it is so important to them. For them, pole dance was never about showing off their bodies, but a way to control their body and mind by having strength, body awareness, and mental fortitude.

Vesper Designwear was conceived to honor these women. Vesper offers female pole dancers well-fitting polewear that stands against the anti-gravity nature of pole dance to accomodate freedom of movements. On the pole, concerns over how other people perceive their bodies should be the least of their worries.

The Vesper Brand


Like how pole dance is an expression of themselves, Vesper celebrates female pole dancers and their relationship with their bodies.

BRAND DNA

Strength Gracefulness


THE FIRST BRAND TO USE ‘DESIGNWEAR’

Vesper focuses on in-depth research on the motions and physics of pole movements to cater to the unique and varying body types of female pole dancers to create the perfect pole wear.

THE FIRST POLE WEAR BRAND TO HAVE A DIFFERENT ANGLE ON POLE DANCE

Vesper acknowledges the inherent sensuality of pole dance, but celebrates more of the strength, gracefulness, and mental fortitude of pole dance.


Corporate Objective

TO BE A MARKET LEADER AND TASTE MAKER IN THE POLEWEAR INDUSTRY.

Secondary Objective

DEVELOPING POLE WEAR MARKET BY PROMOTING POLE DANCE AS:

1. FITNESS 2. PERFORMANCE


CHAPTER 02

BRANDOVERVIEW

CHAPTER 03

STRATEGICPLAN

Determining Factors

All decisions regarding Strategic Plan are determined by these factors:

Mission statement


Value proposition


Consumer insight

Products that fit their body well instead forcing the body to conform to the products.

Competitors

Vesper analyses the current trend in marketwear and the competitors’ offerings to stand out above the rest.

Details on competitors are available on Chapter 04: The Industry and the Market

Products & Services

Vesper offers a range of designwear that is especially designed for pole and aerial activities, but is suitable for medium-impact sports such as yoga and pilates as well.

Merchandises

For the first five years, Vesper focuses on producing high quality tops and bottoms (tank tops, bra tops, leggings, and shorts) for pole and aerial arts. The style can be described as a balance between sporty and sophisticated, with a contemporary fashion proposition that separates it from competitors.

Features, advantages, benefits

Vesper tops and bottoms are body-type driven, which means they are designed to fit different body types. They are form-fitting and they stay in place amid the rigourous and anti-gravity nature of pole activities. Thus, there will be no nuisance related to ill-fitting polewear. The unique style that blends sophisticated and edgy differentiates it from other competitors. The wearer will feel sophisticated and not sleazy, comfortable and look good when doing pole and other aerial activities, regardless of body type.

The designer

All designs are created by Ivan Adiputra, the creative director of Agua de Alma, a luxury resortwear from Jakarta, Indonesia. Adiputra focuses on quality and designs and brings a fusion of Asian and European style. He combined Baleraric themes and the classic European sense of style with Asian flair for today’s discerning active women. This is to give an International flair, but still suit the taste of Asian women.

All Vesper tops has the signature thin straps with unique strapping designs, like a ribbon that wraps the body. Most Vesper products came in signature black colour or other colours with coloured outside stitches. The consistent ideology behind each design means that Vesper products can be mixed and matched despite the style group.

Design philosophy

Fashionable pole wear that reconciles the athleticism, gracefulness, and sensuality of pole dance. Inspired by the lines that was created by the pole and the body during pole dance to create a sense of asymmetry, unique silhouette, and intersecting lines.


Seasonal collections and style group

Vesper will have three signature styles which will be the mainstay of the brand. They will be established in the very first collection, “Collection 0”. All-new seasonal collection will be released every four months. Each collection comes with two limited edition seasonal styles and limited edition colours for the three signature styles. All designs are unrepeated. This serves to create highly desirable products.

Sizing consultation

Vesper offers individual sizing consultation with our customer service officer though e-mail enquiries. This is in-line with Vesper’s vision of fitting all body types.

Alteration

All body types are not created equal. Vesper accepts requests of alterations on case to case basis on additional costs.

Returns and exchanges policy

Vesper prioritises customers’ satisfaction. If the products do not fit well, it may be refunded back to the original form of payment, or exchanged within 14 days of receipt, provided that the merchandises are in original saleable condition with all original tags attached. Merchandises must be accompanied by both the orginal sales receipt and a return authorization number. To receive return authorization number, customers are to e-mail Vesper. To prevent the policy from being abused, Vesper reserves the rights to refuse a return or exchange if the merchandise in question does not meet the original standards.

E-mail follow up

Vesper ensures that all customers received the best service and products. Vesper will send an email after first purchase to gain customer’s feedback.

Payment methods

Vesper accepts VISA, Mastercard, JCB, American Express, and payment via Paypal. In the future, Vesper will consider i-banking for local customers.

UNIQUE SELLING POINT

SOPHISTICATED YET ATHLETIC STYLE

WELL-DESIGNED PRODUCT WITH HIGH FUNCTIONALITY


Sizing guide

All Vesper products range from XS to XL with the following specifications for tops and bottoms:

US

EU

UK/AU

China

Japan

Bust

Natural Waist

0-2

32-34

4-6

160-165/84-86

3-5

32

24-26

4-6

36-38

8-10

165-170/88-90

7-9

32-34

27-28

8-10

40-42

12-14

167-172/92-96

11-13

34-36

29-30

12

44

16

168-173/98-102

15-17

34-46

31

14

46

18

170/176/106-110

19-21

34/36-38

32

XS S M L XL

Tops

US

EU

UK/AU

China

Japan

Germany

0-2/25-26

32-34

4-6

160-165/84-86

3-5

32

4-6/27-28

36-38

8-10

165-170/88-90

7-9

30

8-10/29-30

40-42

12-14

167-172/92-96

11-13

36-38

10-12

42-44

12-14

168-173/98-102

13-15

38-40

XS/S S/M M/L L/XL

Bottoms

Product Knowledge

Material

All Vesper products are made with Italian Milliskin Matte Spandex, with a composition of 80% Nylon and 20% Spandex. At 190 GSM, it is lightweight and silky soft. It has a superior four-way elasticity and retained good form on the body. It can withstand hundreds of washing. It is also water-resistant and moisture-wicking to prevent sweat marks on the top. All materials are pole-tested prior to production.

To ensure longevity, Vesper products has to be treated with care. Handwash or machine wash in gentle cycle with cold water only. Do not tumble dry, iron, bleach, or re-dye. Saline soak (a tablespoon of salt in cold water) on first wash to set dye. Separate dark washes from light washes, as colour run may occur on the first wash.

Fabric Care

Pole-tested

4-way stretch

Moisture-wicking


Product Mix

Signature collection

The first launch consists of three signature styles, which has bra tops, tank tops, shorts and leggings each. Seasonal collections will be added to the line every four months.

Tops

Bra Tops

Tops come with removable bra pads.Some tank tops serve as cover ups, not performance tank tops.Bra tops and tank tops are designed to complement each other.

Vesper

Black

XS XS XS XS XS XS

S S S S S S

M M M M M M

L L L L L L

XL XL XL XL XL XL



Tank Tops

Product Classification

All signature items are the regulators of the product mix because of their timeless quality. The limited edition colours (C2) can be classified as the attractors.

Pro

du

ct

Mix

D

ep

thP

rod

uct

Lin

e D

ep

th

Shorts

Vesper

Vesper Style 2 Style 3

Bra Bra BraTank Tank Tank

Black Black BlackColour 2 Colour 2 Colour 2

Shorts Shorts ShortsLeggings Leggings Leggings

Black

XS XS XS XS XS XS

S S S S S S

M M M M M M

L L L L L L

XL XL XL XL XL XL



Leggings

Bottoms

Product Mix Width

XS XS XSS S SM M ML L LXL XL XL


Product Life Cycle

By analysing the product life cycle over the next five years, growth strategy can be adapted to ensure the relevance and the longevity of the brand.

Research andDevelopment

Now-Launch

Introduction GrowthPhase 1

GrowthPhase 2

RepeatPurchases

First-timers

Targ

et G

row

th

With

no g

row

th s

trat

egie

s

First-timersUser Testing

1st Year 1st-2nd Year 3rd - 4th Year

Pro

fit

Growth Strategies

It is forcasted the brand my reach an early ceiling of growth in the next four years if no strategy is employed. This is because of the sucess of the brand may lead to increased competitions in the already niche market. To maintain the growth momentum well past 5 years, the following growth strategy can be considered:

Diversification

Expansion of product lines to include accessories (legwarmers, knee protectors, gloves, headbands), performance costume, and streetwear (skirt, outerwear, long-sleeve shirts).

Quality improvement

There is a potential of finding or developing new fabric to improve grip on the pole in the future. The bigger the production line is, the more sophisticated machines can be used to improve quasuch as seamless sewing.

Design technology

In terms of designs, the following technology allow for more intricate and innovative designs, which justify increased price in the future: laser cut, digital print, emboss & engraving, embroidery, knitting, etc.

Promotion & collaboration

To maintain interest on the brand, There will be on-going promotions such as sponsorship and collaborations with well-known pole stars or fashion designers.

Maturity Decline

Jump to new competitors

RepeatPurchases

5th Year After 5th year



VESPER TOP

One of the signature style, Vesper is about breaking the boundaries. The asymmetry and intersecting straps gives an otherwise predictable design a twist. It is comfortable to be worn by people of all bust sizes.

Strategic PlanStrategic Plan Vesper Designwear 35Vesper Designwear34


VESPER SHORTS

Designed to complement the other products from the same line, Vesper shorts is the first asymmetrical pole shorts. The strap helps secure the shorts even more, and balance the silhouette.

Strategic PlanStrategic Plan Vesper Designwear 37Vesper Designwear36