Business plan for ‘Finery Green’

Entrepreneurial Management
and Leadership
European School of Economics
2022-23 Prepared by:

Student name: SAMI KABIR

Lecture name: Professor Chris Imafidon

 TABLE OF CONTENTS

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Executive Summary
● Unique Selling Point 3

2. Business Overview
• The Clothing Industry Overview 3
• Mission and Vision Statement
3. Sustainable Supply Chain
4
• Key Success Points
4. The Management Team 5
5. Products, Services & Pricing
6
• SWOT Analysis
4. Research, Design and Development 6

5. Market Trends
7
• Marketing Plan
6. Operational Plan 7

7. Marketing Plan 8

8. Operational Plan 8

9. Risk Analysis 9

10. Equipment Purchasing 10

10. Financial Plan 11

● Start-up Costs 11

11. Appendix 12

Executive Summary

Finery Green

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Sustainable Clothing Brand
Bhopal, Madhya Pradesh, India

Finery Green is a sustainable clothing brand for a female, male and non-binary consumer
base targeting young customers between the age of 18 to 35. In a world of fast fashion
which is putting our planet at risk, we not only want to use sustainable raw material but
make the entire supply chain sustainable. In creating that, it's crucial to understand that
creating a supply chain is an ecosystem in itself that must be supported indefinitely for the
audience to see its true impacts on the betterment of the environment. Fashion has become
one of the most polluting industries in the world due to the use of low quality materials
which makes individuals buy more thus creating waste. Finery Green will aim at using high
quality materials to produce sustainable clothing, including more eco-friendly options and
keeping a strict policy against unethical labour in the production process.

Labourers working in mass producing clothing factories are not even paid minimum wage
for their work and this is a common practice that happens in countries like China, India, and
Bangladesh. Fast fashion has become disposable as a result of mass production. On average,
an individual throws away about 70 pounds of clothing per year. About 13 million tons of
textile goes to waste every year out of which 95% can be reused or recycled. The artist and
designers that will engage in creating designs will be able to showcase their talent through
the very designs they create. As people become more aware, they are taking a closer look at
what they eat, wear, and drink and how it affects their bodies. Based on this, their
purchasing decisions are also shifting to create a cleaner environment starting with the
clothes they wear.

As the pioneers of this platform, we want to pay close attention to not only the quality of
the garment while it is being produced but also the entire supply chain, production
processes, and its afterlife.

Unique Selling Point:

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Now, more than ever there is a need to support conscious brands and the zen generation is
all about it. Supporting the same cause, Finery Green will be established as a sustainable,
purpose-driven street style brand. Our USP is that we will be an artistic brand, and grounded
in ensuring social justice, while simultaneously offering an exclusive range of street style
fashion.

Business Overview

Finery Green is a sustainable street style T-shirt brand that caters to a young audience (18 -
35 years old). The brand’s main focus is on establishing an identity that is deeply rooted in
solving a small part of a larger vital issue namely textile wastage, reducing emissions, putting
a stop to unethical labour and putting individuality and transparency as of utmost
importance.

Finery Green will take an ethical approach to maintain the exclusivity of its products by
removing hints of status symbolism, and celebrating inclusion, art, sustainability and Body
positivity. The brand believes that what we wear matters and thus we plan on changing that
to control greenhouse gas emissions, and textile wastage among other things and still make
people look amazing!

The Clothing Industry Overview

The textile industry is one of the oldest forms of industry which includes elements like
designing, manufacturing, and distributing. Though vastly developing, it's also one of the
industries that are badly struggling with adopting minimal wastage strategies. India stands
among the top five global exporters in various categories of textiles and the size of the
industry in India stood at 150 billion US dollars as of 2017. The street wear style has caught
the attention of various retailers and luxury brands.

While pure streetwear brands exist, sportswear companies have also evolved their
traditional sports gear portfolios to grow their streetwear portfolios with cool, hip sneaker
and hoodie concepts. In addition to that, luxury brands are also working to secure a large
share of the streetwear market.

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India's textile industry is the world's second largest exporter after China. Textiles and
garments accounted for 12.4% of India's total exports in 2018. India accounts for 5% of the
world’s trade in textiles and clothing.

Mission & Vision Statement

There is an awareness among the audience of the effects of fast changing fashion and its
impact on the world. Our mission is to help our consumers take a step in creating an ethical
and sustainable fashion brand. Consumers need to consider how their purchases affect the
environment and life cycle of their garments, and how they can invest in long-lasting
garments.

Sustainable Supply Chain

Finery Green is committed to sourcing the most sustainable materials available. Some of the
most sustainable materials include natural fibres (cotton, hemp, hemp) and
futuristic/innovative fabrics. According to Forbes, polyester can take up to 200 years for it to
decompose. Thus, leaving behind cheap plastics (polyester, nylon, spandex) that are not
naturally grown and are made from chemicals and polymers will help reduce the burden on
the environment.

The use of such fabrics during the production process will help the brand in becoming
sustainable. The goal will be on working to find such a fabric supplier while the company is
being established.

Key Success Points

• Collaborate to Generate a Larger Audience

• Build a Community on Social Media
• Provide Fair Remuneration for Local Artists/working labourers
• Be Consistent with Your Target Audience and Reflect This in Clothing
• Inventory Management: avoiding mass production at once
• Adapt to trends that can be identified and done quickly

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• Take risks in the style we believe in

The Management Team

The core responsibility is to ensure the success and healthy growth of the company. Areas
such as marketing, finance, strategy, human resources, sales etc all will fall under the
responsibility of the CEO. Then comes the Creative Director, who will directly work under
the CEO and will be in charge of all the art work and collaborations. As the growth of our
sustainable clothing community is important for us, we will look at hiring a Community
Outreach Manager whose responsibilities will be to answer customer complaints, and
emails and resolve most customer related issues at its level. Moving on, a Store Manager,
Fulfilment Manager, Social Media Manager, and Graphic Designer for designing our patterns
and a Sales Associate will be our main staff apart from the labourers who will work in the
factory.

Products, Services & Pricing

Women’s Clothing

Tops: Sleeves-Top, T-shirt, sleeves-Crop-Top, T-Shirt-Crop-Top, Tube-Top, Tank-Top, Graphic

Tee, Crew Neck shirt, Sweetheart Line Top, Baseball Tee

The price range of Women’s clothing will be between Rupees 700 to 1500 Rupees ($10 -
20$)

Men’s Clothing

Tops: Long Sleeves shirt, Tee shirt basic, Button up shirt, Graphic tee with funny slogans

The price range of men’s clothing will be between Rupees 800 to 1500 Rupees ($11 - 20$)

Unisex Clothing

Tops: Long Sleeves shirt, Tee shirt basic, Button up shirt, Graphic Tee, Crew Neck shirt, &
Baseball Tee

The price range of Unisex clothing will be between Rupees 700 to 1500 Rupees ($10 - 20$)

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SWOT Analysis

STRENGTHS WEAKNESSES OPPORTUNITIES THREATS

Excellent user Street style with a higher Expansion of the brand Competitors with more
experience on the end feel: a market not with time to retail store advanced strategies and
website explored too deeply technologies

Offers affordable Might be a higher price Adding more cool designs More affordable designs
but quality clothing range for some people that have not been but low quality fabric
due to the quality of the explored yet companies within the city
fabric being exclusive and country

Research, Design and Development

The design department can be thought of as the research and development department of a
garment factory/brand as it develops garment prototypes and prepares them for sale and
production. The product development process will consist of seven phases :

• Prediction
Acquiring information that offers effective and highly accurate trend predictions for our next
collection design. This includes deep analysis of current and future trends, understanding
colour & trend direction, design reports for each trend and at least a year ahead of forecast.

• Designing
Creating sketch ideas on paper, or draping fabric on a dress form and using computerised
design system

• Collection Planning
This process is a pre-production stage of sampling, the purpose of which is to define in
detail the styles, fabrics and colours that represent the company's offerings for the
upcoming season.

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• Pattern Making
Patterning is done manually by a skilled pattern maker using paper and measuring tools,
using Auto-CAD, or by draping the fabric directly onto the dress form. Using the resulting
pattern pieces to build the required size garment.

• Technique & Technology

The use of advanced technology and machines will help improve the quality of the product
and maximizes the profits of the company

• Production of Prototype
A prototype needs to comply with the design, material and colour traits that fit along the
shape of the analysis that is gathered in the earlier stages.

• Pattern Grading
Lastly, the process involves where patterns of different sizes are produced from the original
master pattern.

Market Trends

The Indian textile and garment market reached USD 151.2 billion in 2021. Going forward,
IMARC Group expects the market to reach $344.1 billion by 2027, at a CAGR of 14.8% from
2022 to 2027, according to Imarc.

In India, the textile and garment industry is one of the oldest with a lot of development over
the years. Today, the textile and garment market has become an important factor in the
Indian economy. This can be attributed to the abundant availability of raw materials for
manufacturing garments such as cotton, silk and wool. The Indian Government is also
working towards making investments under the Integrated Textile Park Scheme and the
Technology Upgrade Fund Scheme to educate the workforce and encourage private
investment in India's textile and garment industry.

Marketing Plan

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Through an aggressive digital marketing strategy, Finery Green plans on developing a
sustainable friendly community showcasing the company’s comfortable, sustainable and
real clothing. We also plan on collaborating with a few unconventional graphic designers
and artist which will work on making designs that are unique yet authentic to what we
believe in.

For the first two years, we plan on keeping our presence solely through our online store. We
will only cater to our domestic customers in India until we decide to expand further
depending on our operations and profits. Moreover, the brand will focus on its presence on
social media platforms like Instagram, Twitter and Facebook while hosting its website
exclusively.

Operational Plan

Through the stages of growth, xx will further differentiate itself by establishing a platform
where the artist can collaborate to bring new, innovative fashion items to our line of
customers. We plan on working alongside them to develop a fashion line that complies with
what we believe in, which is sustainability.

Our focus will be on ethically made clothing using fair trade which means using eco-friendly
fabrics, organic materials and using recycled materials. This will lessen the harmful impact
on the environment and result in the production of high-quality clothing.

1. Customer Demand : Analysing the sustainable fashion industry and developing products
accordingly
2. Product Creation : Creating sample product types to test their impact on environment
3. Product Surveying : Testing the prototypes created with a small diverse set of audience
4. Production : developing a batch of clothes according to the demand so there is minimal
wastage
5. Marketing: utilising social media, website, word of mouth, and google Ads to reach to a
fresh set of customers

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6. E-commerce: setting up our online store on our platform so people can purchase clothing
based on their design preference, size and colour
7. Product Fulfilment : Our fulfilment team ensures that our customers receive their
products on time without the hassle

Risk Analysis

Inventory control:
Creating a balance between how much inventory is produced. If the garment production is
too high, the company may suffer losses. Also, if the company is not able to meet the
demand and produces less than required, it won’t survive in the market.

Trend analysis:
In a perfect world, the company's products would represent an uptrend and style trend. If it
doesn’t, the brand may lose its credibility and appeal in the market.

Marketing:
This is a delicate area that needs to be done carefully. The brand identity and message
should be in line with what is expected by our target group. In case the message is
misrepresented anywhere, the credibility and trust of customers can be lost.

After Math of COVID19:

Considering we will be largely present online only and the majority of the population has
been vaccinated, Covid-19 poses a minimal risk to the brand.

Industry Outlook:
The highly competitive environment in the apparel industry poses a great deal of risk to
industry participants. The company's products will be made from the highest quality fabrics,
sustainably sourced and designed by local artists and creative teams, to express their
individuality and satisfy their customers' desire to unite for social justice.

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Equipment Purchasing

Understanding the machinery required in setting up a new textile business is the initial step
in business planning. There is a wide range of machines for different processes in apparel
manufacturing available including design development, fabric checking to garment packing.
Some of the machinery required at Finery Green will be :

1. Product Designing and Pattern Making Machine

2. Fabric Quality Testing Machine
3. Cutting Table
4. Machine Cutting Equipment
5. Sewing Machine
6. Spotting Gun & Thread Trimmers
7. Packaging Material
8. Office Equipment (laptops, printers)

Financial Plan

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Start-Up Costs (In Rupees; Indian Currency)

DESCRIPTION AMOUNT(INR) PERCENTAGE OF TOTAL

Building Factory Set up (owned) 0%

Marketing 25,00,000 25%

Equipment and Materials 45,00,000 45%

Permits & Licenses 5,00,000 5%

Other Expenses 5,00,000 5%

Start-Up Fund Available 20,00,000 20%

Total Start-Up Fund Required 1,00,00,000 100%

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A p
pendix

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 The sustainability production cycle

This chart represents the

management team at Finery Green

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