charlotte russe in japan by: shreelakshmi adarsh anoosheh bahramipour mohammad ben tarif guillermo...
TRANSCRIPT
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Charlotte Russe in Japan
By:Shreelakshmi Adarsh
Anoosheh BahramipourMohammad Ben Tarif
Guillermo Barrera
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Outline
Country Review General Economy Demographics
Business Review Market Analysis
Opportunities Challenges
Internal Analysis Marketing Strategy Conclusion and Recommendation
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Country Review
General Area: 377,835 sq km (slightly smaller than
California) Capital: Tokyo Population: 127.5 million Literacy Rate: 99% Government: Constitutional monarchy with a
parliamentary government
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Country Review
Economy GDP: $3.582 trillion Composition by sector:
Agriculture: 1.3% Industry: 25.4% Services: 73.3%
GDP real growth rate: 2.7% GDP per capita: $28,200 Est. 2003
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Country Review
Economy Exports: $447.1 billion
Main Exports: motor vehicles, semiconductors, office machinery and chemicals
Export Partners: US, China, South Korea, Taiwan and Hong Kong
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Country Review
Economy
25%
12%
7% 6.6% 6.3%
US China SouthKorea
Taiwan HongKong
Export Partners of Japan
Est. 2003
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Country Review
Economy Imports: $346.6 billion
Main Imports: machinery and equipment, fuels, foodstuffs, chemicals, textiles and raw materials
Import Partners: US, China, South Korea and Indonesia
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Country Review
Economy
19.7%
15.6%
4.7% 4.3%
China US South Korea Indonesia
Import partners of Japan
Est. 2003
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Country Review
Demographics High population density: 329.5 persons per
sq km 50% of population on 2% of land Total population: 0.96 male/female Age structure:
0-14 yrs: 14% 15-64 yrs: 67% 65 yrs and over: 19%
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Country Review
Demographics Population growth rate: 0.08% Life expectancy at birth
Male: 77.74 years Female: 84.51 years Total population: 81.04 years 6th WorldwideComparing to US of 77.43 years
Est. 2004
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Business Review Charlotte Russe is an American women’s
clothing company. First store opened in Carlsbad, California in
1975 Trendy women’s clothing. Very reasonable prices. Targets women between the ages of 15 and
35
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Business ReviewProducts Satisfies broad range of ready-to-wear
apparel to match all lifestyle needs: Casual Social Career Special occasions
Dresses, shirts, tops, skirts, pants, shorts and all types of seasonal wear as well as outerwear
Accessories such as shoes, jewelry, handbags etc.
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Business Review
Performance Today Charlotte Russe owns 256
stores Sales in 2003 fiscal year over $450
million Acquired Rampage stores in 1997,
taking it from 16 stores to 55 stores today
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The Question
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Should Charlotte Russe enter the Japanese market?
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Market Analysis
Opportunities World’s second largest apparel
market after USA: $25 Billion Women’s clothing dominates the
market with the highest percentage of sales
Imports of apparel increased 10.9% in 2003
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Market Analysis
56%
32%
12%
Women Men Children
Apparel Market in Japan
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Market AnalysisImports from US
0
200
400
600
800
1000
1999 2000 2001 2002 2003
Apparel Imports From US in $Million
0.8%Value
1.6%Quantity
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Market AnalysisImports from China
02468
1012141618
1999 2000 2001 2002 2003
Apparel Imports from China in $Billion23.7%Value
80%Quantity
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Market Analysis
Local production decreased 20% yearly
2001 – 2003.
Year Total Market
Local Production
2001 $32 B $16 B
2002 $27.5 B $13 B
2003 $25 B $11.5 B
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Market Analysis
An increase of 20% in the last year.
Year Exports
2001 $215 M
2002 $242 M
2003 $291 M
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Market Analysis
Opportunities The real success stories are in the
specialty store sector.
Store-based sales, that account to 80% of the total sales, increased 6.1% in Feb 2004.
2.5% increase in Sales in Feb 2004. 5% in Women’s clothing sales.
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Market Analysis Summary of Feb 2004 sales increase:
Total SalesWomen’s clothing
sales
Store-based sales
+2.3% +5% +6.1%
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Market Analysis
Japan’s economy expanded a real 1.7% in the October-December period: the best showing in 13.5 yrs Backed by strong corporate capital
investment, exports and consumer spending
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Market Analysis
Opportunities
The average age of marriage for females 27 years and increasing
Japan’s birth rate is among the lowest of the world’s advanced economies
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Market Analysis
Opportunities
Fashion-conscious women
U.S. products have basic acceptance in the market (makes authentic U.S. apparel a popular market segment)
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Market Analysis
Most popular American brand names in Japan Polo Ralph Lauren Stussy X-Girl Gap Nike Levis
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Market AnalysisChallenges
An overall decline in the US apparel exports
A stagnant economy clubbed with effects of the Asian financial crisis.
Yen continues to teeter to the US$ (making US goods more expensive to the Japanese market)
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Market AnalysisChallenges A very little room for error (shipments must
neither be too early nor too late) Clothing produced by American companies
has been traditionally designed for the Western women’s figures)
Japanese are highly conscious of the quality of sewing
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Market Analysis What do Japanese females
demand for?
Brand name Affordable price Quality of sewing Fabric texture Trendiness
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Internal Analysis
What does Charlotte Russe offer?
Popular American brand name Good quality clothing & reasonable price Trendy Good fabric texture
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Internal Analysis
Stussy: $57X-Girl T
-shirt: $50
GAP: $30
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Marketing Strategy 4 Alternatives for penetrating the Japanese
market: Hire Japanese trading companies to act as
agents to export our goods Sell directly to Japanese trading companies who
can then import these goods into Japan Sell through a U.S. based company that is
familiar with the Japanese apparel market and has connections with Japanese importers or businesses
Sell directly to the market through specialty stores
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Marketing Strategy
Target Market Young female trend-setters
rather than trend-followers
Control the most discretionary income in Japan
Are concentrated in large cities such as Tokyo and Osaka
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Marketing Strategy Mail order catalogs Billboards in cities like Tokyo and
Osaka Television and print advertising
through select channels of media Participating in Japanese tradeshows
or visiting trade shows in the United States that attract Japanese attendees
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Conclusion & Recommendation
Big population+ Big market segment+ High purchasing power+ Fashion oriented women+ Few U.S. competitors+ Very affordable prices+ Specialty stores advantage+ Brand name+ Nice clothing
= Excellent business opportunity.
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Thank You!
Any Questions?