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Preface Have you, your family or your friends ever searched in different department stores or handbag stores to find a bag you like? Even though after a hard searching, you still can not find “your bag” due to various reasons, for example, the price is beyond your budget, or the color of bag is not the one you require, or the style is not your favorite. All these problems annoying you will be solved by a company which we will introduce later on.
IBC-International Bag Corporation is a young and successful handbag chain-store retailer in United States. Their concept is to collect unique handbags from designers around the world except top brands like LV, Prada offered in a store. It is just like a one-stop shop for women, providing most fashionable and trendy handbags with wide selection, plenty choices of color, different price and quality. And you can experience good service and trend here.
The excellent team in IBC, consist of experienced professionals from retail, handbag and fashion industries, has created this brand new retail concept of IBC and strive for success with their expertise and experience • We have to believe that IBC is to be the leader in handbag market with the creative marketing concept and excellent team.
Now, We will introduce IBC in detail for you to deeper your understanding on their business concept and fortify your confidence on IBC.
IBC | International Bag Corporation Presentation Q3 2006
Women today are turning away from traditional handbag brands in search of unique designers that will give then a fresh new look. IBC | International Bag Corporation offers the unique handbag designs sought by contemporary women.
What We Do STATUS stores is the first chain of retail stores to exclusively offer a large selection of unique handbags to contemporary women. IBC Design provides outsourced handbag design, manufacturing and distribution services to small-to-medium sized handbag designers.
STATUS Stores STATUS is the first chain of retail handbag stores in America. The key differentiators for STATUS are: • Feminine Environment • Pink Color Theme • Flowers / Scent Machines • Easy Listening Music • Merchandise / Selection • Large Selection of Unique Bags • Designer • Private Label • Exceptional Customer Service • Customer Intimacy • Product Knowledge • Proven Retail Concept!
Status Brand Identity Map – Version 1.5 Organizational Values Organization Brand Name Brand Archetype Lover / Creator Status • Sense of style, beauty, fashion • The best Target Audience Category Descriptor Positioning Statement • Women, 18-45 • Average to above average income • Value conscious Status, a handbag specialtystore, stands for the most & best handbag choices. A Handbag Specialty Store Cultural Archetype: Code Look “better” for a reasonable price. Primary Feature & Purchase Factor Reptilian Hot Button Limbic Hot Button The most & best handbag choices Status. Special. Shopping buzz. Instant gratification. Fashionable. Complete. Put together. Tangible Benefits She Feels: • Cute & trendy products • Unique products no one else has • High-quality handbags that will last • Quality at a reasonable price • Save time - don’t have to go to a lot of stores • Happy, pleased, joyful, excited • Complete • Well-dressed • Put together • Smart STATUS Brand & Identity IBC conducts extensive brand and identity research to gain an intimate understanding of our retail customers.
STATUS Merchandising Our unique merchandising strategy yields more purchases per visit and brings the customers back to the stores more often. 90-Day Trend Cycles Bags Endorsed By Celebrities As Seen In Fashion Magazines Designer & Private Label Bags Refresh Store Inventory Every 30 Days
STATUS at the Third Street Promenade IBC | International Bag Corporation is poised to open its flagship store on the Third Street Promenade in Santa Monica, California. The flagship STATUS store on the Third Street Promenade in Santa Monica,CA will be a 2,000 square foot storefront based on the successful concept of previous STATUS stores in Saint Louis, MO. The stores will feature the largest selection of unique handbags from designers around the world as seen in fashion magazines and toted by celebrities. IBC anticipates selling over 25,ooo handbags a year in the Santa Monica STATUS store generating gross revenues in excess of $1M a year. Third Street Promenade, Santa Monica, CA The Third Street Promenade is a vibrant lifestyle shopping center in Santa Monica, a town on the Pacific Ocean just west of Los Angeles, CA. It is the shopping, dining and entertainment destination of choice for local Santa Monica residents, people from the greater Los Angeles area and tourists from around the world. The Promenade hosts many leading fashion brands such as Abercrombie & Fitch, Armani, J Crew, United Colors of Benetton, Victoria's Secret and Zara.
IBC Design IBC Design provides outsourced handbag design, manufacturing and distribution services to small-to-medium sized handbag designers. DESIGN Our complete suite of designer services enable IBC customers to reduce operating costs and get their product to market faster. MANUFACTURING The IBC global network of reputable factories deliver high quality bags, at a fair price, on-time. DISTRIBUTION A network of over 10,000 retail distribution points in North America that enables designers to increase sales with minimal investment. TECHNOLOGY IBC has developed proprietary technology that creates efficiencies by connecting designers, manufacturing and retail points of distribution. STATUS A one-of-a-kind new retail concept that brings unique handbag designers to contemporary consumers.
Market & Opportunity • Market • Women are turning away from traditional handbag brands and are seeking new, unique handbag designers. • The US market for handbags was $6B USD in 2005. • The US handbag market is growing at +20% a year. • Small-to-medium sized designers represent 75% of the handbag market. • According to the WSJ, women are seeking unique handbags in the $400 - $700 price range. • Opportunity • Small-to-medium sized handbag designers are resource constrained and are seeking outsourced design, manufacturing and distribution services. • Finding unique handbags is a challenge as it requires visiting multiple retail stores to locate the perfect bag. Women are seeking a one-stop-shop for their handbag needs. • Currently there is no clear market leader in the handbag industry.
IBC Mission IBC’s mission is to consolidate the highly fragmented $6 billion a year (and growing at 20%) handbag industry. IBC seeks to become the leading specialty retailer of women’s handbags through its STATUS stores. Complementing its retail business is the IBC Design business with the goal of becoming the leading provider of outsourced handbag design, manufacturing and distribution services (including STATUS stores). The handbag market today is composed of three highly fragmented, disconnected and inefficient elements: design, manufacturing and distribution. IBC | International Bag Corporation is pioneering a completely new retail business model based on the creation of networks in order to leverage the outputs of the three critical industry elements: design, manufacturing and distribution. Each network is connected by IBC’s proprietary technology platform and thereby creates efficiencies in the market. The efficiencies created by IBC yield greater profits for IBC, its partners and its customers (including STATUS stores). IBC’s goal is to acquire 500 IBC Design customers and open 100 retail stores by 2010.
IBC Competition Currently there is no consolidator and no clear market leader handbag industry.
IBC History IBC has opened and operated three STATUS concept stores in the Saint Louis, MO area and all of them were closed. One was in the Westfield Chesterfield malland two were in the Saint Louis Galleria.The first store, a kiosk, was supposed to be a four day proof of concept. The second store we used to test our ideas while we were developing our brand and identity. We realized we missed the mark on this store: location, concept and merchandising.The third store was a tremendous success. We closed it for two reasons 1) a decision to move operation and expand from LA and 2) a national tenant took our space .We plan to open our flagship store in Santa Monica, CA in Q1/07. IBC Design opened Q2/06.
STATUS Westfield IBC Design Founded March 2005 Q3/05 Q2/06 Q2/05 Q4/05 Q1/07 STATUS Kiosks STATUS Galleria STATUS LA
Now this company with completely new retail concept: IBC/International Bag Corporation comes to China. They have three goals:
find reliable manufacturer for ladies’ hang bags in different levels. • Seek for co-partners/investors • Seek for domestic retailer who has build up a retail network in China
Advantages of investing IBC If you are a handbag manufacturer, you will have a opportunity to collaborate with excellent foreign company in long term. After joining IBC, you will obtain OEM orders from foreign high-class handbag brands to increase profit of your factory. Meanwhile, it is also a good chance to promote your own brand/ products to overseas and explore overseas market through IBC, a platform for you.
From the point of investing, there’s some risk to invest this start-up company. But it has great potential in this market, with a brilliant team after this young company, who did a lots of serious market research and test in a earlier stage to prove the feasibility of their concept. This company will grow to a leader in this market to bring high return on your investment.
The new retail concept of IBC has a big possibility in Chinese market as well. IBC is eager to find steadfast retailers in China and cooperate with them to take more market share, being the market leader based on established network.
Jonathan C. Miller Jonathan Miller is a passionate team player that delivers results. Jonathan have started companies, served as an officer of corporations and lead product management, engineering, marketing and sales teams. He is an effective strategist and hands-on executer. His broad experience spans the globe including the United States, Europe and Asia. Working Experience Sino American Ventures 04/2005 – Present San Francisco, Singapore, Shanghai Sino American Ventures in focused on business opportunities between Asia and America. With offices in San Francisco, Singapore and Shanghai Sino American Ventures has the geographic and intellectual experience to help organizations conduct business around the world. My responsibilities at Sino American Ventures include strategy, operational management, project & product management, business development and marketing. I am presently based in the Shanghai office. LLM Partners 01/2005 – Present San Francisco, Singapore & Shanghai LLM Partners is a global venture capital and consulting firm focused on consumer & packaged goods and consumer electronics. LLM Partner’s clients include; Chelsey Henry, Method, Qi Fusion, Clarafon, iBeam Technologies, UpSnap, Lusora and other global consumer brands. As a general partner at LLM I am responsible for business development for the firm. Additionally, I focus on product management, marketing, business development and sales for our portfolio companies. Further I am a part of the team that structures and secures funding for portfolio companies and clients. Finally, I represent our portfolio companies and clients interests in China providing manufacturing and outsourced development support.
TRUEreq by ProductSoft (now Green Array) 03/2002 – 12/2004 San Francisco & Singapore Founder, Chairman & CEO TRUEreq by ProductSoft is a disruptive Product Lifecycle Management (PLM) solution. Focused on Requirements Management TRUEreq is a groundbreaking, web-based, on-demand, hosted PLM solution. Realizing the enormous opportunity of delivering ASP process management solutions across the enterprise ProductSoft has expanded its focus and is now called Green Array. PeopleLink 04/1999 – 06/2000 Santa Monica, CA Chief Community Officer (CCO) Vice President of Product Management PeopleLink is the first IdeaLab! company and at one time was the number three instant messaging company in the world. Through its evolution PeopleLink developed online collaborative tools (such as instant messaging, chat rooms, message boards, email discussions, groups and calendars) then later become what is today a provider of collaborative Customer Relationship Management (CRM) solutions. The Fortunecity Network 11/1997 - 03/1999 San Francisco, New York City, London Director of Operations (COO) Fortunecity.com, like GeoCities, is a leading online community. Founded in the United Kingdom in 1997, The Fortunecity Network grew to being one of the worlds largest web hosting providers and the 11th most visited site on the Web by 2000. Fortunecity had a successful IPO in March 1999. Today, Fortunecity has established an industry-wide reputation as the market-leading provider of web services for small businesses and individuals.
Flycast Communications 04/1996 – 11/1997 San Francisco, CA Flycast Communications was a pioneer in Internet advertising. Flycast eventually grew to being a network on over 1,000 websites auctioning advertising space. Flycast Communications had a successful IPO in June 1999. Subsequently, Flycast was purchased in October of 1999 by CMGI and merged with Engage. Education The Ohio State University Finance, Computer Sciences, Actuarial Science (minor in Art History)
Team Matt Lovett - COO Matt brings extensive experience to IBC in Asian manufacturing, sourcing, procurement and fulfillment and has a broad network of manufacturers in China. Products that he has worked on sourcing are sold in U.S. retailers such as Target, Dayton's, and Kmart. John Fruin - CFO John's successful background includes over 25 years of senior management experience in magazines, software publishing and Internet companies. As CFO at Macromind and ArtToday, he participated in extensive venture capital and M&A activity. Scott Stefan - Vice President Scott brings over ten years of of experience in design, sales, marketing manufacturing and fulfillment to both in-house and outsourced clients. Scott is the founder of Strine, a leading China manufacturer. David Willett - Director of Marketing
Team Michele Mandorlini - Director of Design Michele has spent a lifetime in his family's Italian handbag business whose customers include Prada, GUCCI, DKNY, Tod’s. Lisa Greenwald - Merchandising Lisa has been a senior merchandising executive and buyer for over six years. Her she has worked with companies such as Club Monaco, Banana Republic and J Crew where she was head of handbag merchandising. Kate Rice - Trends & Styles Founder of Katie Bag, Kate is an internationally-known style expert working with top companies, publications and celebrities. Kate has appeared in over 400 television spots and 250 print publications.
Advisor Leslie Wexner Founder of The Limited Brands - the worlds largest specialty women’s retail company. Paul Tabet The founding CIO of The North Face, Paul has designed information systems for leading companies such as Vans, Banana Republic and Guess Jeans. Eugene Lee Former President and CFO of Esprit Corp. Eugene has extensive experience in operations and finance of international retail organizations. Richard Li Director of International Sales at LeSportSac. Also, Christian Dior Couture, HSBC and Morgan Stanley. Chuck Pettis Founder and CEO of Brands.com Chuck has created brand identity for leading companies such as Nordstrom, REI, Simon, Chelsey Henry, Nokia, Motorola, Nortel Networks, Microsoft and Hewlett-Packard.
Advisor Stacey Osborn VP Marketing Macy’s, a Federated Department Store. Stacey has worked with Gemini Consulting and Arthur Andersen. She earned degrees from UC Berkeley and the Wharton School of Business. Chelsey Owen Co-Founder of Chelsey Henry with over ten years of marketing and product management experience. Henry Lin Co-Founder of Chelsey Henry with over ten years of manufacturing, supply chain and logistics experience. Additionally, Henry’s provides insight to US-Bags from his work with the family shoe business Kate Rice Style expert and founder of Katie Bags with over 400 television appearances and 250 print publications. Sheila Holley Founder of Box Bags made famous by Sarah Jessica Parker in ‘Sex in the City.’ Tyler Leong Founder of Wa Bags with over six years experience in handbag industry.
Q2 2006 Opened IBC Design Q3 2006 Complete Series B Funding Q4 2006 Acquire 20 IBC Design Customers (Initially focus on designers to be carried in STATUS) Q1 2007 Open Flagship STATUS Store Q2 2007 Complete Series C Funding Q4 2007 Acquire 100 IBC Design Customers Open 6 STATUS Stores Q4 2010 500 IBC Design Customers 100 STATUS Stores
Raised to Date: Series A $350k USD Pre-Money $500k USD Use of Funds: Build network of designers, manufacturers and distribution channel networks. Brand, Identity and Proof-of-Concept for STATUS stores. Series B (target close September 2006) Pre-Money: $1M USD Funds Sought: $500k USD Use of Funds: Open flagship STATUS store on Third Street Promenade in SM Acquire 20 new IBC Design Customers Series C (target close Q2 2007) Pre-Money: unknown Funds Sought: $5-10M USD Use of Funds: Expand STATUS Stores (~$4M USD) Enhance Technology (~$500k USD) Operating Expenses (~500k USD)
If you are interested in this project, please contact us through following means: Tel Number: 0755-2560 7438 Fax Number:0755-2563 6993 E-mail: info@btchk.com.hk Website: www.btchk.com.hk
