The online fashion collection is inspired by travel, born out of a passion for expression in any language, in any culture, and in any outfit. The boutique features unique pieces that are meant to empower women to stand out in and dominate every adventure. The designs are a delicate mix of classic and modern, and all made in the USA. Most importantly, 10% of all profits go to The Adventure Projects – a foundation dedicated to empowering local youth through transformative travel experiences.
The two main roadblocks are 1) the product portfolio and 2) marketing. A wholesale supplier already exists, but additional capital is needed in order to be able to provide consumers with a broad product offering. Paid marketing and advertising also entail capital and are needed in order to reach consumers, drive awareness and demand, and generate sales. A plan has already been laid out to overcome these obstacles.
Worldwide revenue for the ecommerce fashion industry is expected to rise from $481.2 billion to $712.9 billion by 2022 thanks to digital innovation, rising globalization, and changes in consumer spending habits. Globally, women control $20 trillion in annual consumer spending. 71% of women shop for clothing and accessories online. 55% of global consumers say they’ll pay extra for products from companies committed to positive social impact. Beyond La Mer fulfills its consumers’ various needs.
What I Will Do With $5,000
The $5k will be used 1) to grow the existing product portfolio and 2) for paid marketing and advertising campaigns. Both will directly influence brand awareness and sales. The products are high quality and high margins (54% profit margin). In regard to marketing, an audience of 5k+ consumers has already been achieved through organic social media marketing; with paid advertising the audience grows to 100k+ consumers. Investing in these areas will grow the consumer base and ultimately sales.