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AAFA SCLC Fall Meeting

AAFA SCLC Fall Meeting. Walter Meck. Past 12 Years. CEO. Before FesslerUSA. CFO. CPA Partner. Troubled Company Workout Specialist. Investment Banker Bought, fixed and sold troubled companies. Fashion Tees. Pennsylvania-based 100% made-in-the-USA Private label knitwear

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AAFA SCLC Fall Meeting

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  1. AAFA SCLC Fall Meeting

  2. Walter Meck Past 12 Years CEO

  3. Before FesslerUSA CFO CPA Partner Troubled Company Workout Specialist Investment Banker Bought, fixed and sold troubled companies

  4. Fashion Tees • Pennsylvania-based • 100% made-in-the-USA • Private label knitwear • Design support services • Vertical manufacturing

  5. Fashion Tees • Best customers in the whole world • Fashion driven • Technology based • Last year – 4 million fashion tees

  6. Meckville, Pennsylvania FarmGeneral StoreCigarsLiquorLumber

  7. 1900 Meck Knitting Grandpa Walter

  8. 1900 The Sewing Floor

  9. Meck Knitting • Since 1900 • Underwear Manufacturer • We survived: • 2 World Wars • 1 Great Depression • Couple Recessions • But“not exactly”the Korean War

  10. Dri-JeansPlastic Leggings with Boots Little Wally

  11. 1960 Dad Sold Mr. Fessler Bought Meck Knitting Fessler Knitting

  12. 1994 “Mr Fessler, we want our company back.”

  13. The Industry • Artificially Sustained • Weak Management Practices • Technology Deprived • Retailer-controlled Business Practices • Virtually No Collaboration • Volume Chasers, not Profit Chasers Opportunity NAFTA

  14. Impact of NAFTA 1994 to 1996

  15. SALES “Those jobs will be back soon, won’t they?

  16. “Never quit. Never. Never. Never.” Sir Winston Churchill

  17. Old Technology “Human Resources.”

  18. Price “Sales are up 9% since we cut prices in half.”

  19. Old Paradigm Compete on Price Using Old Technology 1996 To 2000

  20. When it rains, it pours.

  21. When it rains, it pours. September 11, 2001

  22. When it rains, it pours. September 17, 2001

  23. Paul’s Thorn Paul: “… take it away from me.” The Lord: “My grace is sufficient for you.” 2 Corinthians 12:9

  24. "Those who cannot remember the past are condemmed to repeat it." Georges Santayana

  25. Paradigm Shift “History will be kind to me for I intend to write it.” Sir Winston Churchill

  26. Old Paradigm New Paradigm

  27. Old Paradigm Tools

  28. New Paradigm Tools + (early) Technology “The best thing since sliced bread.”

  29. New Paradigm 2001 To 2006

  30. Crossing the Jordan To the priests: Take up the ark of the covenant and pass on ahead of the people. When you reach the edge of Jordan’s waters, go and stand in the river.

  31. Crossing the Jordan The Road Less Traveled Lead, don’t follow. Have faith.

  32. Old Paradigm Niche Strategy The Secret New Paradigm

  33. Small Lot Niche Quick Fabrics Fashion Tees Turn Garment Dye

  34. Why Fabric ? Fabrics dictate the “Look” Yarns dicate the Fabric New Different Better Trendier

  35. What is Small Lot ? • 70 orders • 70 different styles • 1,000 units each order • 70,000 units • Each and every week • 2300 styles so far this year

  36. What is Quick Turn Fast Fashion Speed to Market Speed Sourcing Shelf From Creative Thought 2 the

  37. Why Garment Dye? • Flexible & Fast • Right Goods on Shelf • Higher Sell Throughs • Fewer Mark Downs

  38. Strategy How to best serve our niche.

  39. Consumer Strategy Customers Partnerships Design Support Virtual Vertical Production Alliances Suppliers Design Concept

  40. Convincing Customers and Suppliers “Every gateway to the future is guarded by a thousand souls anointed to protect the past.”

  41. New Paradigm Strategic Partnerships With Customers + Strategic Purchasing SPEED TO MARKET = Our Fabrics Design Support = Back Room Your Designer + +

  42. Industry Alliances Cotton Incorporated Roselon

  43. Link Technology Niche Strategy Management

  44. Technology Computer Systems Equipment

  45. Silhouette Design Pattern Making

  46. Tension-free Spreading GERBER

  47. Computerized Cutting

  48. Computer System Helps us manage: • 200 customers • 500 fabrics • 3,000 styles • 4,000 orders • a few good vendors

  49. Warehouse Bin & Lot Control Yarn & Knitting Order Management Apparel Manufacturing Distribution

  50. PDM Business Intelligence Web Access Customers Vendors Sales Force Supply Chain Partners MRP Order to Yarn

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