University of Economics, Prague
Bachelor’s Thesis
2021 Khegay Yelena
University of Economics, Prague
Faculty of Business Administration
Bachelors´s Field: Entrepreneurship
Title of the Bachelor´s Thesis:
The prosperity of operating small-scale business without physical place: The case of a sewing brand
Author: Khegay Yelena
Supervisor: Marko Orel, Ph.D.
D e c l a r a t i o n o f A u t h e n t i c i t y
I hereby declare that the Bachelor´s Thesis presented herein is my own work, or fully and specifically acknowledged wherever adapted from
other sources. This work has not been published or submitted elsewhere for the requirement of a degree programme.
Prague, May 12, 2021 Signature:
A c k n o w l e d g e m e n t
I would like to express my thanks of gratitude to my supervisor prof. Marko Orel, for his insightful comments and suggestions during
my project, as well as our Faculty of Business Administration for constructive knowledge in the economics field.
Special thanks to my family who always believe in me,
constantly support and provide the opportunity to study in VŠE.
Title of the Bachelor´s Thesis:
The prosperity of operating small-scale business without physical place:
The case of a sewing brand
Abstract:
The topic of my bachelor’s thesis is a business plan for a sustainable fashion brand, named ETHI. The main goal is to identify effective components and analysis tools for a business plan and apply gathered information within the university’s course knowledge on practice. The theoretical part based on secondary research in academic literature as well as internet recourses.
The main business idea is to provide the highest quality of organic casual apparel that delivered with creativity, ingenuity, and care for every woman. The practical part includes useful elements of the business plan, such as investigation of market potential, assessing capabilities, marketing, and financial statements. In addition, careful attention dedicates to consideration of ethical and environmental norms, to assure that ETHI’s production is safe for customers’ health and nature. A significant contribution was made to analysis tools which help to evaluate ETHI’s business activity and its opportunities.
Key words:
Sustainability, care, women, uniqueness, online shop
Introduction _______________________________________________________________ 4 Theoretical part ____________________________________________________________ 5 Terminology _____________________________________________________________ 5 Business plan components___________________________________________________ 7 Tools and analyzing models ________________________________________________ 12 Practical part _____________________________________________________________ 21 Executive summary _______________________________________________________ 22 The opportunity __________________________________________________________ 23 Problem & Solution _____________________________________________________ 23 Stakeholder benefits ____________________________________________________ 29 Market Segmentation and targeting ________________________________________ 31 Marketing ______________________________________________________________ 42 The context _____________________________________________________________ 49 Business Environment ___________________________________________________ 49 Wider Environment _____________________________________________________ 52 Ethical Considerations __________________________________________________ 54 The people ______________________________________________________________ 56 Founder profile ________________________________________________________ 56 HR needs _____________________________________________________________ 58 Organization __________________________________________________________ 63 Risk and reward __________________________________________________________ 64 Costs ________________________________________________________________ 64 Forecast ______________________________________________________________ 70 Risk analysis __________________________________________________________ 75 Conclusion _______________________________________________________________ 76 References _______________________________________________________________ 78 Appendix A ______________________________________________________________ 85 Appendix B _______________________________________________________________ 86 Appendix C ______________________________________________________________ 88 Appendix D ______________________________________________________________ 91
2 List of figures
Figure 1. Company’s SWOT analysis grid _______________________________________ 14 Figure 2. See-Think-Do-Care Model with example_________________________________ 16 Figure 3. The 4Ps of marketing mix ____________________________________________ 17 Figure 4. Percentage of microplastic in water ____________________________________ 25 Figure 5. Comparison of chemical VS organic fiber ________________________________ 26 Figure 6. Concern about environmental impact of clothing manufacturing ______________ 27 Figure 7. ETHI’s customer prototype 1 __________________________________________ 34 Figure 8. ETHI’s customer prototype 2 __________________________________________ 34 Figure 9. Porter’s 5 Forces analysis ____________________________________________ 40 Figure 10. ETHI’s main product features ________________________________________ 42 Figure 11. ETHI 1 year-based apparel activity ____________________________________ 43 Figure 12. The percentage of willing to pay extra for ethical clothing __________________ 45 Figure 13. ETHI Instagram optimization tools ____________________________________ 47 Figure 14. Sales promotional offers ____________________________________________ 48 Figure 15. Comparison of current and future ETHI’s HR needs ______________________ 62 Figure 16. ETHI’s organization structure ________________________________________ 63
List of tables
Table 1. ETHI’s stakeholder interest matrix ______________________________________ 30 Table 2. Summarizing of benefits for internal and external stakeholders________________ 31 Table 3. Summary of market segmentation _______________________________________ 31 Table 4. Competitors main profile features_______________________________________ 35 Table 5. Significant competitor analysis _________________________________________ 37 Table 6. SMART Goal _______________________________________________________ 46 Table 7. ETHI’s See Think Do Care model _______________________________________ 49 Table 8. SWOT analysis _____________________________________________________ 50 Table 9. SWOT analysis grid __________________________________________________ 51 Table 10. PESTEL analysis ___________________________________________________ 52 Table 11. ETHI’s ethical considerations _________________________________________ 55 Table 12. Founder profile ____________________________________________________ 57 Table 13. ETHI’s job position requirements and benefits____________________________ 60 Table 14. ETHI’s fixed and variable costs _______________________________________ 64 Table 15. Average price of different textile _______________________________________ 65 Table 16. Average cost per collection ___________________________________________ 66 Table 17. Labor costs _______________________________________________________ 67 Table 18. Logistics costs _____________________________________________________ 68 Table 19. Package costs _____________________________________________________ 69 Table 20. Instagram promotion cost per click ____________________________________ 69 Table 21. ETHI’s total cost per month __________________________________________ 70 Table 22. Sales revenue forecast 1st year ________________________________________ 71 Table 23. Income statement projection for 4 years _________________________________ 72 Table 24. Balance sheet projection for 4 years ____________________________________ 73 Table 25. Cash flow _________________________________________________________ 74 Table 26. Risk analysis ______________________________________________________ 75
4
Introduction
In recent decades humanity achieved huge technological progress which has an effect on many aspects of today’s daily life. Thanks to developed machinery the manufactural and industrial production steps ahead, where technology replaces manual workers and delivers products in large quantity for the shortest time. The big rivalry in the market pushes producers to work efficiently and provide new offers faster than competitors. Today, manufacturers consume huge amount of recourses, in consequence, this leading to environmental issues. The apparel industry is an example of a massive landfill, wasting non-renewable recourses, polluting water and air.
Unfortunately, with such increasing production temps our planet waits for irreversible environmental consequences. As a result, it is vital for people to reconsider consumer behavior and follow alternative ways by switching preference to sustainable, ethical brands. This global issue is a good opportunity for new business options which propose slow fashion methods.
Studying in Bachelor of Business Administration faculty provides a piece of crucial knowledge on how effectively manage a business and succeed in achieving goals. Lectures on the course taught to think critically, evaluate recourses accurately and solve the problem analytically. Taking to account new market trends, personal interest, and gained economics knowledge, the challenge of creating ETHI’s business plan was accepted. ETHI is a small unique sustainable apparel brand based in Europe, operating online worldwide. ETHI delivers designed cloth that underlines women’s femininity and beauty by providing comfortable organic wear, safe for health and nature. Business builds upon efficiency, transparency, honesty, and identity values.
The paper consists of two main parts, theoretical and practical. The theoretical part includes secondary research on how to write a business plan that actually works, what components to comprise, and on which factors pay attention to. In addition, the second half of the theoretical part lists the useful analysis tools and their application to the business plan. The collected data applies in the practical part. The prepared business plan describes all main ETHI’s activity, market research, and opportunities. Furthermore, practical part is including careful evaluation and analysis related to the company’s prosperity and underlining specific features in detail.
Limitations
Conducting secondary research and assessing market ventures for small fashion business was challenging owing to most of the statistical data and analysis applies for popular worldwide brands. Apart from that, the garment industry has numerous brands and labels, thus it is difficult to sort and recognize significant and potential competitors as well as identify potential.
On top of that, evaluating suppliers' and distributors’ costs at several websites was limited by users’ access and require registration or direct communication with the firm’s representatives.
Theoretical part
Terminology
Business related definitions
Business idea Formulation of information that comes to a person's mind regarding the business activity. Characteristics of the business idea are fulfilling of customer needs, clear focus, innovative, unique, sustainable, and profitable in the long run. The business idea should consider users’
benefits, market, and revenue mechanism (Bharti, n.d.).
Business plan A document in written format which describing the nature of the business idea and future activity, the sales, and marketing strategy, the projection of financial background statements (entrepreneur.com).
Entrepreneur A person who has the ability to realize a new idea in successful innovation, that has value to stakeholders and capable to generate revenue (Bharti, n.d.).
6 Fashion related definitions
Casual wear Cloth items that make a person comfortable to feel in on a daily wearing basis, as long as it is event appropriate. In most cases, casual wear includes basics garments such as T-shirts, Jeans, Sweaters &
Hoodies, Skirts & dresses (Hauser, 2019).
Ethical closing Fashion apparel that aims to reduce and exclude the negative impact on people, animals, and the planet. The item which was consciously produced “from seed to garment” within considering side effects and ethics values (Outland, 2020).
Fair trade fashion Garments which are producing on ethical trade standards such as transparency and accountability, justified payment, excluding child and forced labor, good working conditions, and respect for the environment (Hodakel, 2021).
Fashion trend The fashion-related conception that gets popular among a large number of people for a certain period (Sayed, 2014).
Fast fashion The volume-based business models, where the quantity in production is a prior (Darmo, 2020).
Mass market Refers to a large of people who want to buy a particular product that was designed and produced with that purpose (collinsdictionary.com).
Ready to wear The term for cloth which was produced under standardized sizes to fit major amount of people, not to fit a particular person (dictionary.cambridge.org).
Sustainable fashion/
Eco-fashion
The concept follows and covers 3 values such as “Social good”,
“Planet-friendly” and “Animal Cruelty-free” (Abbie, 2018).
Business plan components
• Executive summary
A good summary is one of the key elements in a business plan. It is a summarized idea that provides an overview of entire business concepts and their elements. This part is shortly including information about the future business activity and its operation, facts of offered product or service and overall image of business on how it should look like at the end. For clarity and support the 5 “W”s might be useful a lot and as the author during the writing will focus on Who, What, Why, When, and Where.
Despite that summary is a short part of a business plan a person through the reading should clearly understand the mission of the business and what the author intends to discuss in the next parts (Dixon, 2021).
• Company description
This part includes detailed information of what will be your main activity. The best way to start the paragraphs with business vision, mission, objectives, values, and mantra. The vision statement is several sentences about how the entrepreneur sees the ideal future state of the business and what the organization wants to accomplish (Lotich, 2019). The mission statement provides information on why the company exists in the market and why they do that certain activity. The values include the fundamental principle by which the company believes and operates. For example, honesty, integrity, diversity, quality, etc. Objectives cover the goals that the organization aims to fulfill in business activity. (Pige, n.d.).
Moreover, this part is about the problem-solution model. There is an issue in the market such as customer demand for certain products or services because of shortage, specific needs, and wants. As a result, to lack or absence of those demanded products or services, the business comes to offer a solution, sell or provide better items and satisfy the customers’ needs.
Therefore, including information which describes the reasons which pushed entrepreneur to work in that business area will provide the full picture with the valuable background.
The next few paragraphs should be about the solution in form of a product or service which the entrepreneur wants to offer for customers. This part will detailly describe key statements on what is the product or service about, for whom it will be produced. The statements should be written in a convincing way that the offered product or service is a great solution and opportunity, which was missing in the market. Furthermore, it is important to highlight
8 distinguishing features of your business, its strengths, and competitive advantages (Dixon, 2021). In addition, is good to include the points about the organizational structure and generating profit.
The last points which must be covered are benefits for stakeholders. A stakeholder is a person or group of people who are involved in or indirectly concerns to business and has an interest in its success (dictionary.cambridge.org). Stakeholders are people or organizations such as customers, suppliers, government, investors who can affect or be affected by the business.
For better presentation of information, stakeholders might be divided into external and internal.
Overall in this part author lists the advantages and benefits to stakeholders which they will get from existing his/her business.
• Market and competitive analysis
This part provides collected information about the industry in which your business going to operate. The market analysis includes facts and figures and outline advantages and disadvantages of market potentials. The research should provide the clear understanding of specific market and its features. Therefore, the information should mention actual trends, similar business activities and their achievements. As a result, the research should lead to image of your target customers, what customers need and want in this specific field, what their buying habits (Dixon, 2021). To sum up the information entrepreneurs should highlight what they offer in this industry, what they can do better than others.
Competitive analysis includes information about various of significant and potential competitors in existing market. Attentive entrepreneur should carefully investigate competitors goas and strategy, understand how operate the business, its capacity, strengths and weaknesses.
This analysis will help deeper investigate the market, show future barriers and opportunities to develop. The end goal of this part is to help to identify how your business should enter market, which mistakes to avoid and on which points to focus.
• Description of organization and HRM
First of all, entrepreneur needs to point operation form of business ownership, for instance as a partnership, sole proprietorship, partnership or limited liability company (Dixon, 2021). It is important to consider advantages and disadvantages in business operating and all legal, registration, taxation issues because the different form has own requirements. The sole
proprietorship is most common and one of the simplest forms of ownership where business owned and run by person for his own benefit. The business is fully existing on dependent of owner’s decisions and actions, usually has few restrictions and requirements to start compared to others and flexible in operating. The partnership form can be divided in two types as general and limited. The general type considers a partnership where both owners invest, in equal or different portion and both fully responsible for the business debts. This form does not require formal agreement. The limited partnership includes formal agreement where the partner has right to limit his own liability for business debts based on his portion of ownership or investments. The corporation is separate legal entity from its owners. In contrast to forms listed above the owners have limited liability to debts or losses and profits generated by a corporation are taxed as the entity income of the company. As a result, after income distribution to the owners as dividends or profits are taxed again as the personal income of the shareholder (Rifkind, 2015). The next one of the most popular forms of the business entities among small business entrepreneurs is the limited liability company (LLC). A limited liability company (LLC) is a cross between a partnership and corporation form. It offers to owners the liability insurance guarantee as well as flexibility of taxation and business activity (Kurose, n.d.).
The next points which should be covered in business plan is about organization itself.
This includes organizational structure, culture and HRM. Here good to note the organizational structure characteristics such as organic/mechanistic, formal/informal, hierarchical/collective.
Information should include how employees and managers will cooperate with each other within their responsibilities. The organizational structure type might be functional, where employees grouped by specialization such as IT, Marketing, Sales etc.; divisional by regions, sectors etc.;
line-stuff where authority set a goal and then fulfilled by stuff (Rogers, 2017); matrix with more than one line of reporting managers usually its divided by projects; or hybrid with combination of mentioned types before.
Moreover, the founder should include information about himself. This provides background information of owner such as education, business related experience, skills and personal characteristics. The entrepreneur should list own responsibilities and roles which intend to fulfill by himself. The overall information should proof the competency, show serios and trustful intention of founder. In addition, after evaluating own potential the entrepreneur mentions which job positions are needed for running the business. The information is organizing in form of HR plan. It includes attraction and selection details, job description,
10 position approaches and responsibilities. At the last point, the HR plan includes projection to few next years, which explains which managers might be demanded after expanding and prosperity of business.
• Marketing plan and sales strategy
As soon as market and competitor analyses are completed the entrepreneur should ponder about own sales and marketing strategy, how the business activity will generate profit efficiently. The first steps are segmentation, targeting and promotion. The segmentation part help to identify who is your customers based on demographic, geographic, psychographic and behavioral features. After the segmentation the entrepreneur should think about which segments, he/she wants to enter and target. To succeed in targeting the founder should specifically identify and profile the distinct group of buyers who has distinguished needs and preference. The detailed description of potential buyers will guide on how effectively position and promote the product or service. The market positioning refers to ability of your brand to influence on customers’ perception. The objective of positioning is to state the brand image and identity in the distinctive way from competitors, thus buyers will formulate specific relation to product or service. As a result, the brand positioning approaches might be: price-quality dimension, functional benefits, usage opportunities, self-expression etc. (Kotler, P., &
Armstrong, G., 2011).
Consequently, the next part to develop is branding. The branding is a long-term process which builds the chain of all aspect points between customer and the brand. Here author should think about brand awareness, loyalty, association and perceived quality.
After identifying market segments, targeting group and own brand image the next step is marketing plan. Marketing plan includes 5 main components: situation analysis, marketing goals, strategy, marketing mix and timing, budgeting issues. The situation analysis consists of marketing research and summarizing, in-depth analysis of marketing environment. To achieve higher outcomes and succeed in business sales the marketing plan should has SMART goal, it should be specific, measurable, attainable, realistic and time bounded. This step will help to see concrete steps which should be done and how to note the progress. After identifying SMART goal and objectives the entrepreneur should move on strategic actions which must be done to achieve the goals. In this part important to consider what will be the distinguished features from competitors, where and how to promote, which resources needed and when to expect the
growth. The marketing mix theory is useful component to think about 4 coordination such as product, price, place and promotion. It will help to guide in resource allocation, cost benefits and communications issues. After the implementation of actions, it is important to control and trach the process, check timing & deadlines and budget. This will help fast identify the progress or gaps and if needed do correcting for deviations in plan. The entrepreneur can choose formal or informal methods of controlling, where formal is based on behavioral and outcome standards with orientated measures and actions on how to respond to various scenarios; while the informal method focused more on organizational vulture, HR development and flexibility.
• Request for funding
This section should be directed to potential investors. To succeed in getting funds founder needs clearly state the needed amount, requested type as a loan or investment, and term you are asking for (Walton, 2018). The information should consist of concrete facts related to purpose, amount, and plan on using requesting funds. Therefore, including the financial elements are a key opportunity to show that the invertor's fund will be justified and used accurately, as a result, a visible plan on how you want to use funds will be provided. As a result, the reliable financial projection on future spending will guide invertors to a positive decision.
For better representation, the entrepreneur could include a timetable and provide information about the agreement.
• Financial projection
To finalize the business plan entrepreneur must include information about the financial position and future prosperity. The financial numbers should be organized in 3 fundamental financial statements such as balance sheet, income statement, and cash flow reports to outline business assets and liabilities (Shaw, 2017). These 3 statements are interconnected with each other, with changes in one will make an impact on others; however, they measure different various aspects of a company's financial health. The founder should state expected revenue for the first 12 months and further annual projected earnings for the second, third, fourth, and fifth years of business (Dixon, 2021). The data usually organized in tables and graphs projection.
The financial report should prove to the reader that the business activity will be rentable and has all chances to have predictable profit. Moreover, the financial report will prove that the business will able to cover all costs, pay bills, and move forward to earn profit.
12 Tools and analyzing models
• Business model Canvas
The business model canvas is a one-page table that helps the founder to easily work through the foundations of your business ideas. This model aims to help the future entrepreneur to brainstorm, organize and highlight ideas with main business features and objectives. The table includes bullet points of business key activities, recourses, goals, value propositions, customer segments, channels, partners, revenue streams, and cost structure (Athuraliya, 2021).
To organize information accurately the are special online platforms such as mural.co and creately.com, that helps to create Canvas fast and efficiently. Filling this model out in advance will visually present all related things to which should be considered when designing a future business plan and strategy.
• Porter’s 5 forces
Today most of the businesses in any field have rivals in the market. Therefore, business needs to conduct Michael Porter's 5 forces model which helps to evaluate a firm's attractiveness and profitability in existing competitors' environment. The model considers aspects such as the threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and rivalry among existing competitors (Cadle, Paul & Turner, 2010).
By considering the threat of entry the company evaluates to what extent it will be difficult to penetrate in the market and which opportunities to use. As a new entrant, there are might exist different sources of barrier such as economies of scale, product differentiation, capital requirements, access to distribution channels, cost disadvantages independent of size, and government policy (Porter, 2021). Supplier power can influence an opportunity for cost reduction of a company's delivered products by unique service or product and powerful supplier brand, as a result, hard to replace. Customer power is high when there are a small concentration of buyers and low switching cost. Additionally, if the product is standard or undifferentiated, and it is the component of another item. The threat of substitutes is significant when the product is not differentiated or well-performed, the price is not corresponding to quality or utility, and the necessity of the product easily replaced by another need. Lastly, if there are a lot of existing
competitors who are offering similar products or services the rivalry for new entrants will be difficult.
After fulfilling and assessing all five aspects, the company will be able to estimate the difficulty of entering the market, understand its capabilities and opportunities, and how to deal with competitors, suppliers, and customers. The gained information from the analysis will help to develop the right strategy and highlight the aspects to which the company should pay more attention.
• SWOT analysis
The SWOT analysis helps to examine business capabilities within a consideration of the business environment. To complete the analysis entrepreneur should list key company's strengths & weaknesses and its opportunities & threats. For correct fulfillment, it is important to understand that strengths and weaknesses out from inside companies' recourses, while threats and opportunities consider the outer environment that connects to business. To identify strengths, questions such as what the most efficient business processes are…, what the assets of the teams are…, what strategic advantages over your competitors are… can help to navigate.
In case of weaknesses the founder should think about: What business systems should be improved? Does the business need any additional tangible assets, such as money or equipment?
Does the organization have any gaps? Is the original location conducive to success? The questions for the opportunity and threat parts are more about external factors. In case of opportunities, a founder should answer if are there trends in your market that would inspire customers to purchase more of your product/service and are there any upcoming regulatory changes or events that your business might benefit from or have a positive effect. Finally, for threat suitable questions to consider are: Can you foresee any future competitors entering your market? Will suppliers provide you with the raw materials at the prices you need? Are there any shifts in consumer behavior or market patterns that could have a negative effect on the business? (Parsons, 2021).
Furthermore, an author can divide strengths into those that can assist you in capitalizing on market opportunities and those which can assist in preventing possible threats. Similar step to weaknesses those that need to be improved before you can capitalize on opportunities and those which need to be fully reworked and turned into strengths as soon as possible due to avoid future threats to the company (Peterson, Jaret & Schenck, n.d.). Figure 1 below presents the
14 example of the company's SWOT analysis grid. It clearly shows that the strengths which can be used for opportunities to boost the business. The strengths which can make an impact on threats should be monitored. The weaknesses which can be used for opportunities should be improved. Lastly, the weaknesses which can be connected with threat must be eliminated to protect the business.
Figure 1. Company’s SWOT analysis grid
Note. Copyright (n.d.) by Peterson, Jaret & Schenck
Rechecking the SWOT report regularly to see if the balance of strengths, weaknesses, opportunities, and risks has changed is a significant point, especially entrepreneur should do that more often if the company is undergoing significant shifts in marketplace or competitive dynamics, experiencing growth challenges, or struggling to achieve goals and objectives (Peterson, Jaret & Schenck, n.d.). Overall the SWOT analysis will help to track or think about new business strategy and easier evaluate capabilities.
• PESTEL analysis
PESTEL is analysis tool of six external dimensions, which influence an organization. It includes Political, Economic, Social, Technological, Environmental and Legal factors.
PESTLE analysis is being used as a large-scale, fact-finding tool. In spite of the fact that the organization cannot influence external situations on its own, additionally, these factors cannot
affect an organization's profitability directly, the PESTEL analysis counts as an important part of business activity. By considering these external factors, it is possible to evaluate and maximize opportunities, plus minimize risks for the organization. Well prepared PESTEL analysis helps in strategic business planning, including organizational matters, product development and marketing.
In PESTEL analysis, different factors relate to various issues. Thus, political factors consider but are not limited to governmental and political regulations and support such as subsidies; corruption, legal and freedom issues; trade control, special tariffs import and export activities. Economic factors consider indexes such as rate of growth, interest, inflation, exchange, unemployment etc.; price fluctuation, level of income; availability and flexibility of banks for credit; and stock market trends. Social factors cover all human and population issues such as birth, growth, occupation, life expectancy rates; health, education, habits and lifestyle information; evaluates attitudes towards different aspects etc. Technological factors include levels of innovation, internet and communication infrastructure, accessibility and awareness of new technologies etc. Consequently, environmental factors consider the climate, natural disasters, recycling, renewable energy and other similar aspects. Lastly, the legal factors will include all human and property related laws such as copyright, employment, discrimination, consumer and data protection etc. (B2U, 2016)
To conduct PESTEL analysis it is critical to identify the scope of the research. The company should work intensively on research based on reliable, fresh information and data. It is important to pay attention to general facts related to the market and specific ones as well.
Furthermore, the author should attentively sort the gathered information and pay attention to those facts which are closer or potentially connected to business. The next steps should be about discussing and deciding which factors have the potential to make an impact on the company and on which the organization should pay attention to the most. In case of identifying significantly related facts, the company needs to find solution, consider which trends to monitor on a regular base (Weeks, 2020).
• See-Think-Do-Care Model
See-Think-Do-Care Model is a simple and effective business framework that makes an impact on the way how you interact marketing with the target audience. There are 4 audience intent clusters and the founder should assure that there is a solution for each part (Chaffey,
16 2019). The model considers key phases that customers go through when making a purchase decision. As the model is considering from the perspective of customers, it helps deeply understand the consumer behavior for the company (Hart, 2018).
Moving on detailly to each stage, during the See process, then anyone from the audience absorbs the knowledge that they are interested in, but their intention to purchase has not yet developed. The number of people in the audience is the highest at this stage. After get knowing the details and analyzing it further the Think process comes out, the audience starts to consider buying the product or service. In the next Do stage, the audience with commercial intent takes a ponder about the decision to buy the product or service that has been offered. The last on Care part there are those people who are business existed customers, have made purchase and company should maintain the contacts (Hart, 2018).
Looking at Figure 2 fashion industry example, to the See cluster there are concerned almost all people who are wearing cloth, this will be your largest addressable qualified audience; at the Think part there are people who might have thoughts to buy some new items;
while at the Do stage left people who are considering to purchase something now; the lastly at the Care section there are customers who have bought your offered item. Based on the example it is clearly visible how the model helps wider think about all stage customers and develop the thoughts on attracting more.
Figure 2. See-Think-Do-Care Model with example
Note. Copyright 2019 by Chaffey
• Marketing MIX
The marketing mix is a set of controllable marketing tools which includes core 4Ps aspects such as product, promotion, price, and place. The marketing mix plays a significant role in business marketing strategy because it covers the essential part which the entrepreneur able to adjust and respond to the target market. Moreover, well-considered marketing mix aspects will improve a business's influence on a customer's decision and lead to a successful launch of the marketing strategy (Kotler, P., Armstrong, G., 2011).
Product considers all products and/or services that the company offers to the market to satisfy customer needs and wants, get acquisition and attention. Figure 3 demonstrates the components which should be identified in the Product such as variety, quality, design, features, etc. The Price is the amount of money, offer-related equivalents that the customer pays to get the product and/or service and benefits of having or using it. According to Figure 3, it covers the price list, discounts, payments period, etc. Promotion is communication activities related to persuading target customers to buy a product. This includes advertising, selling, publicity issues, etc. The last point is Place which covers the company's activities that provide target customers availability of their product and/or services. At this stage based on Figure 3, it is important to think about channels, locations, logistics, etc. (Kotler, P., Armstrong, G., 2011).
Figure 3. The 4Ps of marketing mix
Note. Copyright 2011 by Kotler & Armstrong
Additional to 4Ps in marketing mix added new 3 dimensions as people, processes, and physical evidence. People framework considers the company's staff such as employees,
18 management consultants, etc. who deliver products and/or services to customers. The company should be sure that there are suitable workers and well build performance organization. The Process is activities that participating in the delivery of the product and/or service. The process map includes a description of functions, tasks, and activities which employees should complete properly to succeed at selling. Finally, the Physical evidence is service representatives, that boost branding and politely impact to customer's environment such as brochures and social media accounts (Singh, 2018).
• Financial statements Balance sheet
The balance sheet is a statement that is key to financial modeling and accounting, it covers the company's total assets, and how they work through liability and/or equity. The main equation is assets equals liabilities plus equities. The balance sheet shows "where the money went to and where the money came from" (Zarova, 2018).
The assets and liabilities are divided into two groups non-current and current. The non- current assets include tangible assets such as buildings, machinery, etc.; intangible assets such as patents, licenses, etc.; and investments such as shares, debt securities, and long-term loans.
The current assets include inventories such as raw material, finished goods, and work in progress; receivables as advanced payments, short-term loans, prepaid expenses; investments such as short-term financial investments and securities; and the last is cash and its equivalents.
The current liabilities include advance payment, accounts payable, accrued expenses, deferred revenue, etc. The non-current liabilities are issued bonds, long-term borrowings, and provisions. Lastly, equity components are share capital, retained earnings (accumulated profits), and reserves.
A balance sheet aims to show what the company owns and owes, as well as to give interested parties such as investors an overview of the company's financial status. Since the balance sheet can provide insight or show the reasons to invest in a business, it is critical to present data understandably.
Income statement
An income statement is a financial statement that presents the amount of net income earned by a company for a certain period, usually annually (Zarova, 2018). An income statement enables company owners in determining whether they will benefit from increasing sales, lowering costs, or doing both. In addition, it demonstrates the success and effectiveness of the business plan's strategy at the start of a financial year. This financial outcome can be used by the company's owners to check and compare if the investment plans are justified or not (Krishnan, 2021). According to numbers and research from the income statement, the entrepreneur can come up with a better solution for business activity. The income statement main components are revenue, money which company actively receives for a period; cost of goods sold (COGS) all cost incurred to produce the product or service; gross profit where the revenue minus COGS; gains in case of the increasing value of assets or property such selling machinery; expenses, such as wages, rent, material consumption, interests paid; depreciation;
earning before tax (EBT) where EBT is determined by income minus expenses, before taxes;
earnings after tax EAT where subtracting income tax value; and the last point is net income which characterized by the equation: revenue & gains minus expenses & losses (Krishnan, 2021).
Cash flow statement
The cash flow is a financial statement that projects the amount of cash collected and paid out for a particular period (Zarova, 2018). To consider cash flow for starting a business is very important as lack of cash is one of the biggest reasons for filing. The reason is that at the beginning stage of business operating there are a lot of expenses and relatively low sales.
Consequently, the first half of a year of a company's life is critical for cash flow. The chances of success are small if the company does not have enough cash to carry the business through this period (Ward, 2020).
The components that concern the company's cash flow are accounts receivable, inventory, accounts payable, and credit terms. By providing a cash flow statement on these different elements, the entrepreneur will be able to quickly define cash flow issues and find out ways for improvements (Ward, 2020). Simply in cash flow listed cash inflow, the money which business received and cash expenditures, the money which spent. After identifying of totals the difference between cash inflow and cash expenditures will be net cash flow.
20 Overall, there is an essential reason to consider all three financial statements during preparation and operating business, as all of them are closely interconnected with each other.
As a result, only by overview and fulfillment of all three statements, it is possible to get and understand the full picture of a business financial situation (Bragg, 2021).
Practical part
Executive summary
ETHI is a new virtuous option for the online shopping experience. The brand is producing sustainable apparel intended to care for women's health and the environment by creating organic cloth inspired with contemporary and minimalistic designs. ETHI is the best example where everything, from beginning to end was wisely considered, comprehending all ethical aspects and customers’ needs.
ETHI aims to deliver high-quality apparel with adequate prices and special benefits for customers. The brand activity based on efficient recourse allocation, transparent policy, honest customer relationship, and individual approach. Apart from this, produced apparel brings women the feel of uniqueness and confidence, underlining felinity and beauty. Besides providing comfortable organic wear ETHI looking for enjoyable purchase process by creating a friendly-user website, social media communication, and fast logistics services.
On top of mentioned above, ETHI was born not only to bring out new apparel but make a significant contribution to the growing fashion community, to propose ethical and sustainable motives in consumer’s daily life.
The opportunity Problem & Solution
General Issue: Fashion industry & business tendencies
• Fashion growing and development
Charles Fedrick Worth is the first designer who based couture house in Paris in 1895.
He introduced the business which presents designer fashionable objects and starts fulfilling new customer needs. Worth offers high-end cloth that would be well-suit for customers (Deka, 2020). Later, in the 20th century, the fashion and design concepts directed to satisfying customer needs in the fashion area have been rapidly developing. With improving living standards and world economic growth, today the fashion industry is the third biggest manufacturing industry in the world (Darmo, 2020).
Over the last two decades, fashion has rapidly expanded in terms of technology, production quantity, modified structural organization, and supply chain mobility (Kaczorowska-Spychalska, 2018). Nowadays fashion plays a huge role in society and cultural aspects of people all around the world. Every person, especially from the low-middle to higher classes, who able to afford cloth is engaged in this industry, by regularly purchasing new items and using related services. With a world capitalism prosperity and improving living standards, the average person is able to spend money not only on needs but wants, where the fashion industry getting popular every year. It offers thousands of versatile options of fashionable cloth to customers every day. As a result, the fast fashion concept becomes one of the leading trends, where all popular brands such as ZARA, H&M, Uniqlo, and their branches are directed to fast growth and development.
In contrast to the 2000th where the fashion brands presented 2 seasons per calendar year, today this number has grown up to 52, including micro-capsules, collaborations, etc. (Tosun, 2020). Consequently, the overall garments production has increased by 400% than two decades ago (Charpail, 2017).
24
• Fashion nowadays, trends
Fast fashion is the leading tendency over the last decade. This term means available mass garment production. Producing hundreds of new collections per year gives customers an updated satisfying "in trend" feeling and pushes them to purchase again more and more (Charpail, 2017). Fast fashion is a volume-based business model, where the quantity in production is prior. This business model does not lead to good environmental consequences and cannot be sustainable (Darmo, 2020).
According to Kaczorowska-Spychalska, 2018 the generation Z, people who were born after 1997 are making a big impact on the popularization of the fast fashion industry. The reason is that within the development of technologies the promotion and availability of buying cloth become easy and fast for a lot of people. On a regular base younger generation monitor online shops, following bloggers opinions and reviews, ask questions and listen to recommendations.
As a result, being aware and having extensive knowledge in fashion aspects, the most demanded expectations of generation Z are variety, comitative price, emotions enjoying from new purchased item and self-expression.
Consequently, as from any viral trend, there are positive and negative side effects. The positive points are satisfying customer needs and wants, developing new industrial technologies, employment in factories, in-store, and management job positions, and a competitive market. On the other hand, as producers have to minimize costs due to offer competitive prices there are a lot of issues are raised. First of all, many fast fashion factories brands are based in economically low developed countries, such as Bangladesh, Pakistan, Taiwan, etc. where the minimum wage is lower than a minimum living wage. Thus, in a lot of cases, the rights of employees are strongly violated, as industries by hiring low social level people are supporting the unfair policies (Darmo, 2020). As a result, only 2 % of industrial workers earn a living wage, where around 85% of all garment workers are women (BWSS, 2019). The second issue is customer's and worker's health. For instance, 63% of tested items from major brands have hazardous chemicals (Charpail, 2017). By using cheap, toxic dyes, and washing chemicals workers who are works in garments’ production are in a danger as well as buyers. The next critical problem is environmental issues, regarding polluting by industrial waste, using non-renewable recourses, decomposition, and animal exploitation to which the whole world should pay big attention and control. To summarize, today's fashion which is a
$2.5 trillion sector—is the second most polluting industry after oil on our planet (BWSS, 2019).
• Impact on environment
If to go deeply on environmental impact which is one of the sharpest points in the fast fashion phenomena and garment industries in general. The first biggest mistake which leads to environmental disasters is open-loop production cycles. This basically means that all waste from production is utilized directly outside and pollutes waters and lands. For instance, chemical such as washing, solvents, and dyes is one-fifth of industrial water pollution (Darmo, 2020). Moreover, synthetic textile is a cause of microplastic in the ocean. According to Figure 4 synthetic textile microplastic is the biggest portion of overall microplastic in the ocean and equals 35%.
Figure 4. Percentage of microplastic in water
Note. Copyright 2020 by SANVT
Unfortunately, today only less than 11% of existing fashion brands are implementing recycling policies in their production. In addition, the fashion industry is one of the most intensive users of non-renewable raw materials, such as water, oil (J. Martinez). For example, some fabrics such as polyester are one of the commonly used fabrics in garment production and it takes more than 200 years to decompose; additionally, around 70 million barrels of oil are regularly using each year to produce these fabrics (Darmo, 2020). Overall fashions industries use 98 tons of non-renewable resources annually (Kaczorowska-Spychalska, 2018).
In addition, as is presented in Figure 5 the production of t-shirt with natural fibers such as cotton releases 3 times less carbon dioxide than chemical polyester fibers, the 2 kg of CO2 and 6 kg of CO2 respectively.
26 Figure 5. Comparison of chemical VS organic fiber
Note. Copyright 2020 by SANVT
To summarize, today fashion and textile industry is the second largest global cause of polluting clean water after agriculture, and it makes a bigger contribution to climate change than international aviation and shipping together (BWSS, 2019).
The consequent action to this situation is the appearance of more companies that are ready to develop new alternatives to traditional materials and move further on using more sustainable or technical fabrics (J. Martinez).
• Customer needs & behavior
Fashion is a unique part of modern human life, it can make an impact on our social and cultural aspects. Sometimes consumers' behavior in fashion wear questions are not rational, which leads to different side effects such as environmental, human rights, etc. The root of the problem is excessive consumerism, while the old generation buying 2 items, youngers buy 10 (Charpail, 2017). The alternative term is "see now – buy now" behavior. As the cloth items become affordable, available, and well-promoted, there is no big issue to buy one more item (Kaczorowska-Spychalska, 2018). However, if to consider from a utility perspective of buying a large number of garments, there is no meaning and need. Based on Charpail, 2017 statistics one out of three young female customers, who are the biggest segment in garment consumption, claims that the cloth which was worn once or twice to be old; and overall out of the whole wardrobe only 20%-30% is wearable clothes.
Today people tend to count new buying clothes as a way to feel happier and get satisfaction. The positive point is that people getting more aware of the significant side effects of fast fashion. As it mentions in Figure 6 34% of people tend to agree and 13 % strongly agree with the fact that regular manufacturing cloth from the mass market has a negative impact on the environment. On the other hand, 36% of respondents still tend to uncertain opinions on this issue. The reason is the lack of available information for customers. The well-provided information about real data of impact clothing manufacturers on environment would push people to reconsider some foundations of lifestyle (Charpail, 2017). As a result, fashion brands meet new challenges as sustainability getting a more popular driver in purchase decision making. Consumers curious about how the offered item was produced, its quality, and overall brand transparency (Kaczorowska-Spychalska, 2018).
Figure 6. Concern about environmental impact of clothing manufacturing
Note. Copyright 2018 by Statista.com
28 Specific Focus
Mission: ETHI is dedicated to the highest quality of sustainable casual cloth delivered with creativity, ingenuity and care for every woman.
Vision: ETHI develops sustainable innovations and provides unique fashion experience by high quality organic apparel to build conscious fashion-lovers community.
Values:
• Efficiency
ETHI is a unique brand that works efficiently in all aspects of the business. The business runs fast in terms of production, communications, and logistics. The achieved results such as numbers of sold-out, customer interest, and profit are important for the company, however, ETHI is attentively focused on every business process and its details, recourse allocation, customer satisfaction, and brand image.
• Transparency
Transparency is one of the main aspects and brand features where everything starts from.
ETHI is fair and respectful of human rights and environmental aspects. All information related to materials, production steps, components, and quality will be accessed by customers.
• Honesty
ETHI believes in honesty, justice, and loyalty in everything, especially when it deals with customer relationships. The company aims are friendly and careful to every customer by providing an individual approach in communication, giving a useful and honest review and opinions during consultations.
• Individuality
In spite of that ETHI is not a tailor-made company where the cloth is sewing in an individual manner, we are doing our best to make our customers feel unique and individual by adjustable techniques and limited designs.
ETHI is an organic and comfortable fashion wear brand. ETHI aims to the ideal combination of modern concepts in the fashion industry: uniqueness, comfortability, organics, and friendly environmental garment wear. The business will be focused on the quality of supplying materials, careful on employee's rights, and conscious about environmental issues.
The main purpose of ETHI is to give women comfortable feminine and safe fashionable items with no footprint on the environment. ETHI will operate as an online shop and provide delivery in Central Asia and Europe. To make shopping more comfortable and visually clear for women the brand will have powerful social media marketing, and update the content with real photos, examples, and pieces of advice on a daily basis (business model canvas in Appendix A).
The main focus will be on producing a limited amount of high-quality fashionable cloth at relatively low prices than competitors. The quality of produced items will be provided by using organic fabric and avoiding chemical manufacturing processes. The business will be held by private contracts with sewing freelancers for remote cooperation on producing of cloth with justified salary.
ETHI will achieve lower costs by sewing only 2 universal range sizes S-M and M-L plus a minimalistic design of cloth thus the stocks won't require keeping a big number of items.
As a result, it will save time and waste materials and less human recourses will be needed.
ETHI will carefully consider the life cycle of produced garments and aware customers about conscious consumption. The brand will introduce ways of recycling cloth by returning old ones and providing sales on the next purchase. Thus, will help to organize a secondhand fair or bring to recycling points those close which is not suitable for reselling.
Moreover, ETHI will dedicate attention to small details to make the customer experience as much as pleasant and satisfied. Every purchase will be packed in designed paper bags with postcards. The small presents in terms of matching hair bund or face masks will be included.
Stakeholder benefits
A stakeholder is an individual or group of people or organization who has an interest or might be involved and affected under certain business activity (Cadle, Paul, & Turner, 2010).
Stakeholders consist of categories such as customers, employees, managers, partners, regulators, owners, suppliers, and contractors. Stakeholders can be separated into internal and external. Internal stakeholders are people who directly participate in business activities such as
30 employees and external are those who do not have a close relation to the company such as suppliers.
ETHI's business model considers a wide range of benefits and positive effects for internal and external stakeholders. Table 1 below represents the main stakeholders who can be related to business. Table organized in matrix based on interest and power of stakeholders. The employees are key internal stakeholders which will be managed closely and attentively. All job positions will be selected by the founder herself based on experience and knowledge in demanded areas. ETHI will provide a friendly organizational atmosphere and conditions for working such as justified wages, bonuses, flexible hours, etc.
Table 1. ETHI’s stakeholder interest matrix
High power
Government
Influencers & bloggers
Employees & managers Owner
Low power Suppliers
Logistics partners
Customers
Low interest High interest
Note. Copyright by Author
Government representatives, groups of bloggers, and influencers society will be kept satisfied at a high point. Overall these external stakeholders will not have reasons to be disappointed if ETHI will with transparency and honesty as it is listed in values. ETHI is a positive brand directed on improving ecological aspects and consumer behavior, the brand will carefully keep a perfect reputation. Thus, no powerful side effects in terms of negative reviews, mass proposals, penalties, etc. will not arise.
Another key external stakeholder is the customer. ETHI expects to get high engagement and interest from customers by interesting and well-prepared marketing promotions. ETHI will keep customers informed and update with all new products and offers. People who will purchase ETHI goods will get a lot of positive experience and benefits as the business
relationship with customers is a prior and directs to personalized communications, unique designs, and well-justified prices.
Moreover, ETHI will carefully monitor suppliers and logistics partners. These stakeholders have relatively low power and interest in the business because they have a lot of different partners and our portion as a small business will not lead to big changes in their business activity. At the same time for ETHI these stakeholders can be easily replaced by similar providers. The main benefits for these stakeholders from the ETHI side are pleasant to experience in cooperation, profit, and careful attention.
Table 2. Summarizing of benefits for internal and external stakeholders
Internal External
- Friendly and well-organized work - Fair, on-time payments
- Flexible hours - Positive experience - Humanistic values
- Environmentally safe - Transparent policies
- Honest relations with customers - Justified prices
- Unique offers, designs - Individual manner
Note. Copyright by Author
Market Segmentation and targeting Table 3. Summary of market segmentation
Geographic Continent: Europe, Central Asia
English and Russian speakers’ countries are most targeting
Type of cities: Capital, populous cities with available internet connection and main logistics services
Demographic Age: 14 – 55, the focus group 20-35 Gender: Females and other minor groups
32 Physical parameters: S-L sized; 155-170 cm height
Occupation: Does not matter
Education level: Does not matter, however the knowledges of English/Russian languages might be necessary for processing purchase
Social level/ income: Middle-higher classes
Psychographic Value/ attitude: Fashion lovers/addicted, care about health issues, pay attention about components and continence of products, support environmental protection actions
Interests/ personalities: Interested in original fashion items, prefer online shopping, considerable about environmental issues, looking for interesting offers
Lifestyle: Casual, with no strict borders at work and life, paying attention on taking pictures, looks for outside and loves self-care Behavioral Decision making: Limited decision making
Buying process: Variety seeking behavior Note. Copyright by Author
ETHI is open for every customer and will be glad to provide products to everyone interested. The first prior segment for ETHI is people who care about the environment, pay attention to the origin of production, and deliver quality materials. At the same time, ETHI is very attractive for ladies who love fashion but would like to have a unique apparel design that differs from the mass market. As it has been mentioned before, ETHI will produce a more casual style of cloth, it might be very interesting for women who have a flexible lifestyle, fewer restrictions, and like comfort wear.
Due to reducing the usage of raw materials, production wastes, and warehousing ETHI is providing universal sizes only in 2 ranges. As a result, there are some demographical points, such as age, gender, and physical parameters. In general, any female could purchase ETHI
garment who can fit in range sizes of S, M, and L, consequently too young or aged ladies might not fit this range. Therefore, ETHI focuses mostly on 20-35 years old consumers, under 155- 170 height. At this age period, females mostly tend to keep the body shape under universal standards. The second reason is that under this age range ladies are mostly interested in fashion, their appearance, understand modern concepts and trends in apparel design. Regarding the height, according to Barhum (2018), the average height varies from 152.40 cm – 167.64, shorter in Asian countries and higher in Europe.
ETHI will found as an online shop, taking to account the technological benefits of the 21st century, our products can be ordered and delivered mostly to any country and city that has available logistics. However, the main sales planned to Central Asia and Europe. The reason is that these geographical parts are on the same continent in contrast to America or Australia, where the shipping time takes a much longer time as the creating of products will take place mostly in Kazakhstan and the Czech Republic.
One more important aspect is a language knowledge. At the first stage, the website will be held in English and Russian languages only. Therefore, in some moments this knowledge factor might be important. According to Statista.com (see in Appendix B1) the highest share of English language proficiency in northern and central European countries. Regarding Russian speakers’ population, except for Russia and CIS countries, there are Eastern Europe and Balkan territories have the highest range (see in Appendix B2). Therefore, ETHI has a high potential of countries from most regions of Europe and Central Asia. In addition, within developed translators’ tools will be possible to make a purchase even for customers who are non-English or Russian speakers.
Regarding behavioral aspects, ETHI products concern with limited decision-making and variety-seeking buying behavior, but not exclude other types. Limited consumer decision- making is the process where a customer needs some extent of involvement and research to make a purchase (Okoli. 2017). Consequently, producers attentively consider factors such as product quality and availability, price, and package style. The variety-seeking buying behavior usually includes relatively low buyer involvement, while there is a relatively high difference in the brands (Sydorenko, 2021). These types of buyers usually looking for switching the brand due to curiosity and new experience. ETHI offers apparel products that will require time to choose an item, think about size, color, etc. Moreover, ETHI is a brand that is good to try, and switch
34 preference to more sustainable variety. As a result, the brand will require partial engagement and searching time of the buyer.
Targeting persona profiles
Based on market analysis, segmentation overview ETHI has an approximate image of targeted consumers. Below two examples presented:
This is Nina. She is 24. She is a master’s degree student in Vienna.
Her study field is digital art and design. She prefers organic food products and cosmetics. She is well aware of world ecological problems and the importance of supporting sustainable brands. In her free time, she likes to do photography and travel with her boyfriend. Hence, she gives preference to casual, comfortable, and feminine wear. Nina’s favorite style is minimalism. She would rather go for small qualitative amounts in everything than quantity.
Note. Copyright by Marsilio
This is Olivia. She is 28. She lives in Finland science 19. Her proficiency is in media and communication. Currently, she is on maternity leave. She has her own blog on Instagram with over 57 thousand followers. She discusses the issues concerning social media, feminism, and body image. She likes to spend her free time outside, walking in parks with her newborn daughter. Online shopping is her best option as a young mom. Olivia has a good sense of fashion and prefers looking for contemporary designs in small ethical shops.
Note. Copyright by pinterest.com Figure 7. ETHI’s customer prototype 1
Figure 8. ETHI’s customer prototype 2
Competitors
Garment production is a huge and very popular industry. There are a lot of large- and small-scale businesses. To succeed and build up a strong competitive advantage, ETHI responsibly identifies key competitors, assessing its objectives, strategies, and capabilities. The further information below presents ETHI’s significant and potential competitors.
Significant competitors
The significant competitors were identified with a help of internet ratings and reviews.
The list includes the competitors that were closely similar to ETHI’s values, objective, and type of product, style, and strategy. Table 4 considers the basic profile features that are important in the apparel industry and helpful due to filtering the closest competitors. Table 4 includes essential bullet points on competitors’ strategy, goals, and capabilities, which are good to consider for developing own completive advantage.
Table 4. Competitors main profile features
# Name (country);
Web; IG (followers)
Price range
Size range
Assortment Shipping information 1 Thought clothing
(UK)
https://www.wearet hought.com
@thoughtclothing 70.2K followers
$-$$ XS-XL M&W Apparel Loungewear Accessories Face masks
Hermes, DPD:
UK: GBP3 (3-5 days);
next day GPB5.9 EU: GBP8 (5-7 days) Worldwide: GBP12
(10-14 days) 2 People tree (UK)
https://www.peoplet ree.co.uk
$-$$ S-L W
Apparel Underwear
Royal Mail, DHL:
UK: GBP3.5 (3-5 days); GPB5 (1-2 days)
