Underwear Dream Bazaar Fashion

Old friend Entrepreneurship

"Unlike many of the founders of the B2C brand, the background of IT industry is different, and our two previous experience is biased towards marketing and marketing."

C EO

Say.

In 1997, Li Shudong, a three year old student at Academy of Fine Arts, founded his own company, acting as an advertising promoter in Bertelsmann in Southern China.

Li and she had seen each other at the same time, and had been diving for several times. At that time, they were still "blue ocean" in the field of electronic commerce, but eventually failed because of team or environmental factors.

Until 2006, She Xincheng had been pferred to Mcglaughlin, who was responsible for the development of e-commerce, and he was once again engaged in the business plan with Li Shudong.

At this point, the fact that Mcglaughlin's growth rate exceeds 30 times in a short time has made She Xincheng feel that "e-commerce is in play", and that the two people soon reached a common understanding -- underwear.

Li Shudong has made marketing planning for several lingerie brands under the line. He learned that the "lingerie supply chain is mature and the technology is home" in the Pearl River Delta. In addition, the secret, J.Crew and other brands in Vitoria also provide a good sample of "traditional pfer line".

So she and Li Shudong founded the Guangzhou Mora Network Technology Co., Ltd. at the same time, the "dream bazaar" website was launched.

300 thousand yuan of venture capital was quickly spent, and the following problems continued.

The first is product positioning.

Li Shudong thinks that if the underwear is used as a standardized product for imaging shirts, it will quickly fall into the price war with the offline brand, but the crowd is too narrow to make customized products.

"The traditional way of making a brand is to plan products according to the color of lace. We plan according to the figure and other elements, so that consumers can find the products they need on the website as soon as possible."

Li Shudong said.

For this reason, Li Shudong subdivides the target consumer group according to age, shape and occupation. "There are many classifications in the cup design, 3/4 cup, 1/2 cup, thin cup, thick cup and so on, while the lace and flower design should match the age and occupation."

The direct benefit of this strategy is that it can effectively control costs: the smaller the product planning, the lower the rate of return, and the more precise control of inventory based on sales performance.

After planning, Li Shudong began to purchase products in the Pearl River Delta's underwear processing plant with his product catalog.

Due to limited funds, each category has only twenty or thirty purchases, so that the factory is reluctant to produce special OEM for dream bazaar.

So, at the beginning, dream bazaar adopted the "wet test" method commonly used in the D M industry, that is, small scale purchase should be done first, so as to meet the requirements of delivery as soon as possible and not to destroy the customer experience.

"Customer experience is very important, so I hope to receive the order as soon as possible after receiving the telephone or online order."

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Li Shudong had done hundreds of interviews with underwear consumers before, and accumulated a lot of potential customers' data, which became the first batch of D M audiences of bazaar.

"Generally speaking, the order rate of new customers in mail order mode is 2% of the quantity issued, but the first test result is more than 5%."

Li Shudong recalls.

Li Shudong said that by constantly directing customers to the website "drainage", at present, the ratio of the dream bazaar order from 70% to 80% is reversed.

Through the "wet test" model and the constant revision of experience judgment, the dream bazaar business has gradually improved.

After nearly two years of operation, dream bazaar welcomed the first round of investment in the Jinsha River and Chong De, and the office moved from the rental house of the faculty building of the Guangzhou Academy of fine arts to the bright new office, and also set up a "small logistics and system framework".

Because it is a small business, Li Shudong and she Xin Cheng from the company's initial establishment of the iron law: never lose money.

"We can't have tens of millions of initial investments like big companies, and we'll have to spend seven or eight years at a loss making stage."

Li Shudong said.

Therefore, the practice of internal strength lies in controlling costs.

"Let customers' feedback be directly reflected in design and production. Reducing supply chain links is the core, because production and marketing deviations are less and costs are reduced."

She Xincheng, who is stationed in Shanghai, told reporters on the phone.

The direct selling mode of e-commerce sales is due to the lack of distributors, so that the products produced can be quickly pferred to reduce inventory.

"Making more products is making planning strategies." when dream Bazar was founded, it started to form its own designer team.

The underwear manufacturers in the Pearl River Delta are obviously not technically problematic, but the elements of "deciding product tonality" such as lace are made by dream bazaar's own design team.

"The tonal of underwear is closely related to the design feeling of lace.

Why do we see that the goods in some places are in a certain style, because the lace of these materials is all the same.

Style is lace.

Li Shudong said.

Generally speaking, the dream bazaar will plan ahead one year ahead of schedule for the next year's products, so as to provide better space for product sales in subsequent operations.

This optimization refers to the continuous "8-24 hours" test of sales reaction process.

"Bra, for example, is the three elements of the bottom, the cup and the color. A product can be a combination of 64 different models and colors. In this combination, only in terms of color, how can the production proportion of red and black be allocated? What kind of production arrangements are there for different codes? If the plan is to launch 100 products, then the different models and colors (SKU) will be more frightening."

She Xincheng told reporters that every round of new products "shelves" process, after 8-24 hours of test order response, combined with the dream of bazaar before the data accumulated to determine the reference data, and the back-end inventory and OEM orders follow up.

However, she also believes that product control is a very delicate process, and they are still exploring a better way.

She was born in the language profession. She has made a metaphor that the semantic pfer between Chinese and English can reach up to 82%, but only 60% can be effectively pmitted.

For the dream bazaar, if there are 100 products planned for one year ahead of schedule, only 20 will become the best seller at the end of the year, and the other 80 must be shouted quickly.

Do "channel brand" again.

"E-commerce business needs to be bigger."

stay

In the meantime, she and Li Shudong understand that one of the secrets of e-commerce is to win the scale.

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Since last year, customers have found that dream bazaar began selling other items such as household clothes, swimsuits, shoes, bags and accessories.

"The best one sells for hundreds of thousands of underwear."

Li Shudong said.

The pformation benefit of dream bazaar as a channel brand has begun to appear.

However, the dream bazaar, with its underwear as its incisions, has not been "invincible" in its product category even though it has become a channel brand, for example, the development of professional suits.

Just a few days before the reporter's interview, if the new independent brand website of Tei poem was formally launched, "if the poem is a high-end professional dress, but dream bazaar has always been a leisure oriented one."

She Xincheng told reporters the reasons for selling professional women's clothing with new brands.

Of course, if the independent website of Ti poetry came from the dream bazaar website in the early stage, it contributed a lot to the "passenger flow".

Not long ago, news of the second round of financing for the dream bazaar of Jinsha River venture capital came out, and she and Li's "spending plan" included a lot of money for the optimization of the IT system besides arranging the expansion of inventory.

In 2009, sales of dream bazaar reached 100 million yuan, with a growth rate of 350%.

How to turn "sales experience" behind this gratifying achievement into "system knowledge" is exactly what Li Heshe is trying to solve at the moment.

Third eyes

Network channel + buyer mode start, more optimistic about the high-end fashion underwear.

Commenter: Zhang Changjun, senior investment manager of China

At the moment, the boom of e-commerce has provided opportunities for all trades and professions. Underwear is no exception, but it is important to note that the consumers on the Internet are younger than the whole line, and there are differences in the consumption ability and the demand for underwear. Therefore, if the positioning of the entrepreneurial project itself is quite different from that of the mainstream consumers of the Internet, it is not feasible to choose the online channels which are starting to invest less.

On the other hand, in the process of production, if light asset operation is chosen, although the starting difficulty is smaller, the supply chain reaction is fast, but the product diversity is limited, and the quality control is difficult to achieve high level.

If vertical integration is integrated, though it is difficult, large investment and big risk, if we do well, we can gradually form our own style and brand, and we will have some loyal users.

In the underwear industry, I personally prefer two subdivision directions: 1) breakthroughs in fabric design and functional appeal on the basis of traditional underwear, and can serve the products and brands of the larger population at high and high price; 2) fashion fashion oriented high-end underwear products and brands.

From the success stories abroad, we can see that brands like CK, V ictoria, s Secret and so on have been completely fashions, so that they can get a premium far beyond the traditional underwear.