Wade Meaney 836037X
AussieBum is an Australian male underwear and swimwear brand. The company is based in Sydney’s inner-west and has become one of Australia’s most sought after brands.
Originally just a hobby for company founder Sean Ashby, AussieBum started in the corner of his living room. As time progressed and his brand became popular, operations moved out of his living room and expanded into a company warehouse. After being shunned by Australian retailers, the company moved online. Once word got out about the Australian surf-cultured underwear, the rest of the world became interested.
AussieBum’s prime function is selling men’s underwear and swimwear to a target market of young men aged between 16 and 39. At this stage, AussieBum would be in the maturity stage of the Business Life Cycle because it has already expanded and grown to be a large company. At this stage it is focused on the selling of its products before renewing it’s brand. AussieBum have hit the mark with their marketing and brand strategy, which allows them to mature for longer.
The company has a goal to turn over more than $20 million dollars in a year. AussieBum also wants to see more people wearing their products.
AussieBum has a partnership as its ownership form. This is the best structure as it allows the company to be guided by two people rather than dictated by one. It also leaves the two leaders answerable to each other so that there is no misguided activities or ideas that are not regulated or thought through well enough.
A major challenge was faced during the initial stages of the company. They were shunned by Australian retailers, which gave them no opportunity to launch their brand in stores. They reciprocated their downfall into success by launching a website which has enabled them to become a global company.
The e-business approach was a positive move for AussieBum....