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Industry Analysis The business idea Jewelry and Clothes Inc. is a sole proprietorship Jewelry and Clothes store dedicated to consistently providing high customer satisfaction by rendering quality jewelry and fashion clothes, and providing customers with excellent service. Jewelry and Clothes Inc offers jewelry and clothes at significant discounts because of direct buying channels. Mission Jewelry and Clothes Inc.
strives to be the premiere jewelry and clothes store in Los Angeles, California. Our goal is to be a step ahead of competition. We provide customers with quality jewelry and fashion clothes at reasonable prices than any other jewelry and clothes store in the region. Our mission is to be the lowest cost store in Los Angeles area. Industry characteristics This industry is part of the Retail Trade sector in the US. Operators in this industry retail a range of jewelry and watch products.
Operators within this industry do not cut and set gemstones (see NAICS 33991), retail costume jewelry (see NAICS 44815), retail antiques or used jewelry, silverware, and watches and clocks (see NAICS 45331), retail jewelry via electronic home shopping, mail-order, or direct sale (see NAICS 45399), or, provide jewelry, watch and clock repair without retailing new jewelry, watches and clocks (see NAICS 81149) (Market Research Report, n. p. ) According to Sustainability of the Los Angeles Jewelry District January 2005, By 2002, it was estimated that the downtown Los Angeles jewelry industry comprised a total of 3, 285 businesses and employed over 10, 000 workers. Of these, 1, 293 businesses (39 % of the total) are engaged in wholesale, 1022 (31 %) are manufacturers of repair shops, and 970 (30 %) are retail related (p. 10). Los Angeles Jewelry District As described by Sustainability of the Los Angeles Jewelry District January 2005, the Jewelry District consists approximately of 500 jewelry manufacturers and 1800 wholesalers/ retailers contained within a few city blocks. The main competitors According to Los Angeles City Guide, the main competitors are as follows: - Neil Lane Jewelry (the audience winner) (8840 Beverly Blvd, Los Angeles, CA). This jewelry shop offers a variety of precious jewelry sets as well as beautiful antique jewelry. - Fourteen Karats Ltd (314 S Beverly Dr, Beverly Hills, CA) is mainly specialized on diamonds and even claim that the customer can just name the price and the boutique will find a diamond to match. - Moondance (1530 Montana Ave, Santa Monica, CA) proposes a rich mix of high-end, funky, innovative and traditional jewelry and accessories. - Erica Courtney (7465 Beverly Bird, Los Angeles, CA) claim that Celebs and mere mortals alike flock to this adorable shop for one-of-a-kind, girlie jewelry - Jennifer Kaufman (8500 Beverly Bird Ste 650, Los Angeles, CA): This one-of-a-kind jewelry boutique keeps style mavens and starlets coming back for its beautiful baubles Mens, Womens and Kids Clothing: the main competitors: Los Angeles Clothing Industry is divided into three parts: Mens, Womens and Kids Clothing.
There are several main competitors in each part of clothing industry. Kids Clothing Gap Kids (409 N Beverly Dr, Beverly Hills, CA) proposes a brighter, louder version of the Gap outfits kids in basic, modern fashions. Young American Clothing (12334 Ventura Blvd, Studio City, CA) claims that this stylish clothing boutique dresses and accessorizes the future fashion stars of America; Rate Tattoo (199 S Beverly Dr, Beverly Hills, CA) is described as designer clothing for infant- to preteen-aged girls and boys who take looking good very seriously. Mens Clothing Paul Frank Store (8101 W 3 rd St, Los Angeles, CA) proposes the clothes suitable for everyday life and special occasions. Sirens & Sailors (1104 Mohawks St, Echo Park, CA) clothing line is good for the city, sport or travel. Their brand is known for the majority of Americans.
The Americans choose them for quality, comfort, ideal lines, the variety of collections and affordability. Lisa Kline Men (123 Robertson Blvd, Los Angeles, CA) presents active urban wear collection. Banana Republic (357 N Beverly Dr, Beverly Hills, CA) positions itself as the seller of the first-rate clothing line for people leading active life who prefer the tendencies of the modern fashion. X- Large Store (1766 N Vermont Ave, Los Angeles, CA) proposes clothes for people who value comfort and quality.
Womens Clothing Clothes Heaven (111 E Union, Pasadena, CA). The main idea of this boutique is to combine the everyday urban wear with the elements of functional and / or sport clothes. The mixture of urban and sport styles as well as wide choice of models and colors is able to satisfy even the nagging customers. Ron Herman at Fred Segal (8100 Melrose Ave, Los Angeles, CA) Tracey Ross Clothing Boutique (8595 W Sunset Blvd, Los Angeles, CA); Anthropologie (6301 W 3 rd St, Los Angeles, CA) UNA Maes (4651 Kings well Ave, Los Angeles, CA) Condition of the economy US jewelry industry enjoys a leading position. US retail sales of diamond jewelry increased by 8. 2 percent last year Customer Analysis - Description of customers Target market major customer groups and key customers: due to our reasonable prices we expect to serve customers with mid and annual low income (60 % of the potential customers). Potential Customers
Growth
2006
2007
Customers with low income
5 %
100, 000
105, 000
Customers with mid level income
8 %
500, 000
540, 000
Total
13 %
105, 000
645, 000 - Location Jewelry and Clothes Inc.
store will be located in Los Angeles, California. The customers base is growing. All the potential customers are located in Los Angeles. Economy Compared to other American cities, Los Angeles can be easily called the tone of the engines of the global economy of the United States. Taking into account the peculiarities of Los Angeles arrondissement, being the historically attractive place for the tourists and young people, Los Angeles will be a good location to put a Jewelry and Clothes store. Bibliography 1.
Jewelry Stores in the US. (May 2005). Market Research Report. Retrieved July 16, 2006, < web > 2. Meshkati N. Sustainability of the Los Angeles Jewelry District January 2005. Retrieved July 16, 2006.
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