China Market Penetration Strategy for JUMA Studio
Date Issued
2016
Date
2016
Author(s)
Chen, Yi-Ju
Abstract
The purpose of this business plan is to design a China market penetration strategy for a fashion designer brand named JUMA with goals to increase brand awareness and sales revenue. JUMA is a New York-based fashion designer brand founded in 2003 by brother-and-sister duo Alia Juma and Jamil Juma. JUMA provides unique design and high quality of accessories at an affordable price. Prior to entering China market in 2015, JUMA’s products are sold through distributors to 120 cities worldwide. Major markets are North America, Middle East, Japan and Korea. However, these markets have been growing slowly since 2008 financial crisis. Therefore, JUMA decided to go to China and start its own retail business in 2015 to seize growth. After a year operating in China, JUMA now has four directly owned retail stores in Beijing, Tianjing, Guangzhou and Dalian and the China sales contribute 5% of its total revenue. Although China market seems promising, CEO Jamil Juma wonders as a new brand in China how he can strategically penetrate the market in the next three to five years and succeed in the long term with small and medium-sized enterprise operation. Specifically, he wonders how to grow business and brand awareness in the market. This business plan addressed the issues by researching and analyzing the personal luxury goods industry, the customers and buying behavior in China. Several key insights are found to build solutions for JUMA:
Subjects
China Fashion Industry
China Luxury Industry
Chinese Luxury Customer
Chinese Luxury Customer Decision Journey
Digital Marketing
Type
thesis
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