Idea 4: CUSTOMISATION OF MENS SHIRTS

Concept: The idea basically came from the fact that the assortment mix in mens wear is
very limited. Hence, to cater to the market of custom made shirts from the selection of the
fabric, style of the collar, the colour of the threads, fit of the shirt largely every aspect would
be customised.
Also, once the customer stitches a shirt with the company the fit and sizes would be
recorded online so that the next time he can choose from a wide variety online with
reference of his custom fitted sample design.
Tailor your shirt to your personality - choose your own fabrics, cuffs, collars and buttons so
that every shirt is your unique creation. And round it off with a monogram.
Location: Mumbai, Bandra

Market attractiveness (macro-level market domain)

With a market size of INR 87,500 crore (USD 16 billion) in 2012, menswear is the largest
segment in Indias apparel market, accounting for 42% of the overall market
The menswear market is expected to grow at a CAGR of 8.5% over the next five years to
reach INR 131,000 crore (USD 24 billion) by 2017
http://www.grailresearch.com/pdf/ContenPodsPdf/Global_Fashion_Industry_Growth_in_Emerging_Markets.pdf

The majority contribution is from the shirts hence the market is overall very lucrative.
Another interesting trend in the menswear market is the steady growth in the premium
tailoring segment comprising the fashion designers. Customers in the super premium
segment are willing to pay a premium to ensure that their tailor-made clothing reflects their
own personality and also helps them differentiate themselves and get noticed.
http://www.technopak.com/files/Indian_Apparel_Market.pdf

Market domain micro level-target segment

The target market segment in Mumbai is majority youth and the working class section which
can pay a premium price for customised deigns of the shirts as well as those who are fashion
forward and are ready to experiment something new.

Target market segment: Men in Mumbai Suburban who are fashion conscious and who can
afford a premium price for the customisation.(niche market)

AGE: 18- 40 years

INCOME GROUP: upper middle class.
OCCUPATION: managers, students, working class .
The benefits that can be offered to customers which be an advantage over the competitors
would be remaking a customised shirt and to be different and get noticed.
There is a tremendous potential for the growth in this sector as it can cater to customisation
needs of the population also to capture a huge market of the mens wear department.

Industry domain macro level industry attractiveness

Major competitors:
Already established brands like Allen Solly, Zara, Louis Philippe cater to the majority of
segment which would be very difficult for the company to pull the customers from very
strong brands.
At the local level shops like Bombay shirting Company is a potential threat as they offer the
customers with customisation of shirts.
Substitutes: The threat would be majorly from designers and established labels.
Industry domain micro level-sustainable advantage
The sustainability of the business:
Economic viability: As the products cater highly to the demand of the niche market and will
be made to order as it is highly customised the stock turnover would be low but the pricing
of the product will be premium.
The customer retaining and maintenance would almost take 4-5 years after the
establishment of the brand name and goodwill in the market.

The USP of the business is providing customised products of higher quality with a perfect fit
and high level of customer satisfaction.
Team domain aspirations, values, risk ability
Entrepreneurial mission:
To be one of the biggest fast fashion retailer in India in 10 years.
Entrepreneurial aspirations:
I aspire that the business should be in line with my mission and to expand the business
throughout the country.
Entrepreneurial propensity for risks:
The biggest risk in starting up with this business is the acceptance of the masses towards the
concept of made- to-measure made accessible to everyone.
The risks which are attached to the financial aspect are:
Negative rate of return on investment if the idea is not executed as per the business plan.
Stability in salaries of employees and stable returns for the fixed cost related to the business
(rent, electricity, etc.)

Team domain execution capability CSFs

The critical success factor of the business is providing a whole of a custom made experience,
like choose your own fabrics, cuffs, collars and buttons so that every shirt is your unique
creation. And round it off with a monogram.
Also, premium pricing for the product is for the quality which is the main driving factor.
This uniqueness of the product will help retain the business in the long run.
Team domain connections or networks-value chain
The value chain customers hold the utmost importance for the viability of this business as
the custom made products are high quality and each part of sourcing is essential to give a
high customer satisfaction and retaining the customers for a long run.
Fabric knowledge and retailing experience in NIFT Hyderabad, helped me building contacts
in the industry and potential experience in this field.