CrossRoads, a brand of Forest Sweaters was launched in the winter of 2002, in the wake of the September 11th attacks which led to a collapse in the textile export market of Pakistan. As a result, Azhar Paracha a partner, with his team including Imran Ghani as a general manager and Misha Paracha as the marketing director, decided to launch another brand which would cater to the needs of the local market in terms of casual wear meeting international standards. One of the reasons why the management felt it was possible to launch such a brand was because of the cheap labor and availability of good quality raw material produced locally. CrossRoads currently has 27 outlets in 10 different cities expanding to almost 34 within the next six months with new stores coming up in both Karachi and Islamabad. All of their outlets are franchised except one at the Xinhua Mall in Lahore which is owned by the management.
“We are the first to provide customers with international styling and up to date fashion; adapted to the culture prevailing in Pakistan, at reasonable prices.”
T – Shirts
Slippers and shoes
TARGET MARKET PROFILE:
CrossRoads realized that in the market there was a need for fashionable western clothing that at the same time didn’t compromise the eastern values. When CrossRoads started operations it was the only company targeting such a market. There was demand that wasn’t catered to, and CrossRoads decided to narrow down the gap between supply and demand with the following target market profile in mind. |Age |18 to 30 years old | |Fashion awareness |Fashion forward | |Region |Urban setting, across Pakistan | |Gender |Both male and female | |Income group |Parent’s income, or just started earning | |Social class |Upper and upper middle classes | |Lifestyle |Trendy, brand conscious | |Personality |Outgoing | |Orientation |Casual | |Occasion |Regular | |Culture |Combination of east and west | |Market coverage strategy |Niche | |Projected loyalty to profitability |True friends |
Marketing Research: For the purposes of this project, questionnaires were placed at three outlets of CrossRoads, Pace, Xinhua Mall and H block Defence with the sample size being around 60 in all three branches. Interviews were also conducted on campus at LUMS to get an idea of how their customers actually felt and any complaints or suggestions that they may have
Hang ten: Since HangTen is an international brand, people often prefer buying clothes from them due to higher quality avoiding local brands altogether. However the designs offered here are fairly simple and do not...
Please join StudyMode to read the full document