For an exclusive Ralph Lauren Retail outlet in Goa
1.1 Ralph Lauren Corporation is a luxury clothing and goods company of the American fashion designer Ralph Lauren. Ralph Lauren specializes in high-end casual/semi-formal wear for men and women, as well as accessories, fragrances, home (bedding, towels) and housewares. It has its headquarters in Midtown Manhattan, New York City As of 2009, Ralph Lauren or their licensing partners operated 163 full-price and 163 outlet/factory stores around the world, including Club Monaco and Rugby stores. Ralph Lauren is one of the largest retailers in the United States with revenues reaching $4.2 billion in 2007. Ralph Lauren will be located located
1. To create a shopping environment that caters to the apparel needs of the Premium Class segment of Goa 2. To receive a 50% profit margin within the first year.
3. To have a customer base of average 1,000 by the end of the first operating year.
Ralph Lauren’s mission is to offer quality products
1.3 Keys to Success
In order to succeed in the apparel industry Ralph Lauren must: • Carry a collection of sizes to fit the more frames of the target customer base. • Provide customers with top class personalized customer service in an atmosphere of high class service • Advertise and promote in areas that our target customer base will learn about our store • Continuously review inventory and sales and adjust our inventory levels accordingly CHAPTER II
2.1 Why should Ralph Lauren and international brand open up in Goa?
Goa is the smallest state in India but it is the India's richest state with a GDP per capita two and a half times that of the country as a whole. It was ranked the best placed state by the Eleventh Finance Commission for its infrastructure and ranked on top for the best quality of life in India by the National Commission on Population based on the 12 Indicators.
Goa's gross state domestic product for 2007 is estimated at $3 billion in current prices. Goa is one of India's richest states with the highest GDP per capita — two and a half times that of the country as a whole — and one of its fastest growth rates: 8.23% (yearly average 1990–2000). Tourism is Goa's primary industry: it handles 12% of all foreign tourist arrivals in India. Goa has two main tourist seasons: winter and summer. As per details from Census 2011, Goa has population of 14.57 Lakh, an increase from figure of 13.48 Lakh in 2001 census. Parliamentary Affairs Ashwini Kumar said that Goa topped the list with an annual per capita income (PCI) of Rs. 1,32,719 in the last fiscal.
2.2 LOCATION AND OWNERSHIP
2.2.1 Company Ownership
Ralph Lauren will form a agreement with Inter ads (Inter Ads is a leading and reputed organizer of international trade exhibitions and conferences in India, in partnership with global exhibition management companies, who are highly acclaimed for innovation and excellence in organizing exhibitions). Inter ads will help Ralph Lauren from scratch i.e. is from negotiating the location till the store is ready, and also the day to day operations of the store.
Location: The location chosen for the store is Caranzalem in Panjim.
2.2.2 Why Panjim?
• Area (sq km) : 4000
• Population (2001 census) : 1.34 million
• Literacy rate (%) : 82.3
• Sex ratio (per 1000 males) : 960
• Length of coastline: 130 km
• National Highway length : 224 km
• Domestic | International airport : Dabolim (25 km from Panaji, the capital) • Major Ports: Mormugao, Panaji (minor port)
• With a population of 65,000 in the city and approximately 100,000 in the metropolitan area, Panaji is Goa's third largest city after Vasco da Gama and Margao. • Goa topped the list with an...