The ABA program provides its students with an in depth study of various managerial activities that are performed in any organization. A detailed analysis of managerial activities conducted in various departments like production, marketing, finance, human resources, export-imports, credit dept. , etc. Gives the student a conceptual idea of what they are expected to manage, how to manage and how to obtain the maximum output through minimum inputs and how to minimize the wastage of resources. I have undergone my summer training at Tommy Hillier Company.
It is one of the leading clothing brand in the world. I feel great pleasure to present this report work after my training at Tommy Hillier that produced to be golden opportunity for me by enriching my knowledge by companies my theoretical knowledge with the managerial skill and application. Simple language has been used throughout the report. Report is illustrated with figure, charts and diagrams as and when required. To know about how the franchise system works. Awareness about the accounts and sales in a retail store. To know about the promotions done by the company.
To do the SOOT analysis of the company The Tommy Hellfire brand was launched in 1985. Tommy is a range of clothing designed to bring ‘American classics with a twist’ to consumers. Today, those nonusers represent people from all races and backgrounds and can be found in practically every country around the world. As a truly global brand, Tommy’s preferred suppliers are those who can fully appreciate each individual marketplace. Tommy is a range of clothing designed to bring ‘American classics with a twist’ to consumers.
The company’s apparel products are recognized throughout the world for their classic and timeless designs. Tommy Hellfire Group is a multi-billion dollar global apparel brand Since 1985, the Company’s strategy has been to develop and a highly recognizable lifestyle brand. The Company seeks to deliver superior styling, quality and value to its consumers worldwide. Tommy Hellfire Group has become a 3 billion EURO worldwide apparel and retail company. Tommy Hellfire in India Tommy Hellfire was bought to into India through a Joint venture between the Murrain group and the Labial group, which owns the Arrived brand.
Called Arrived murrain brands private limited, the Joint venture has entered into a licensing agreement for marketing and distribution of Tommy Hellfire apparels in India. BAM introduced Tommy Hillier in freestanding specialty stores across the country in spring 2004. Tommy Hillier responded to the diversity of his customers by adding more variety to his clothing line and has succeeded in making clothing that many people enjoy wearing. His fragrances have been a huge success as well. The clothing line has expanded by including home products, aware, footwear, swimwear, Jewelry, and divisions such as Tommy Hellfire Athletics.
Tommy Hillier is a true American Tommy Hellfire in Hydrated Tommy Hellfire has two Exclusive Brand Outlets (EBB) in Hydrated located in Banner Hills. There are two outlets in Shopper Stop which is a multi-brand outlet. Profiles of some rivals.. Duke Duke, reportedly rated by ORG-MARK as the top T-shirt maker in the country. It also makes trousers, shirts, Jackets, sweaters and thermal underwear. T-shirts account for 60-65 per cent of the company’s total revenues. Domestic sales account for 80 per cent. Its overseas buyers include Gap, Wall-Mart and Target.
Today, Duke embraces a complete vertically integrated garment manufacturing plant, with knitting, dyeing, processing, finishing, memorizing, compacting, embroidery and printing under one roof. Duke Fashion (India) Ltd pioneered the T-shirt culture, and gradually established several new trends in knitted garments and fabric research. BENTON When Benton was started in 1989 in India, all they found themselves selling were jeans and T-shirts. Benton now sells 1,500 styles as compared to the 400 they started with.
The в?¬1. 7 billion Italian fashion company had entered India through a joint venture with DOC but now Benton India is a wholly owned subsidiary after they broke up a few years back. LEVIS Levies has excellent brand architecture in place and it is performing well. The market for denim, especially at the premium end, is growing between 15 and 20 %annually. The four sub-brands are pretty well straddled. It has 30%of the premium denim racket in the country, and about 10 per cent of the overall market across price segments.
REBOOK Rebook is the brand for sportswear вЂ? shoes, T-shirts etc. вЂ? while Rockford is for a premium range of footwear and apparel marked by or’s вЂ? rugged, refined and followed by Nikkei. Strengths Self-reliance Manufacturing flexibility Abundance of raw material production Design expertise Availability of low cost skilled labor Growing economy and domestic market Progressive reforms Presence across the value chain Weakness Highly fragmented industry High dependence on cotton Lower productivity and Cost Competitiveness
Declining mill segment Technological obsolescence Effect of Historical Government Policies Non participation in trade agreements Opportunities End of quota regime Shift in domestic market to branded readmes garments Increased disposable income Emerging mall culture and retail expansion Research and Development and Product Development Modernization and consolidation for creating a globally competitive industry.
Threats Stiff competition from developing countries; especially China Pricing pressure Location disadvantage International labor and environmental laws like the new labor law says the business would be closed on Sunday which is a major business loss. Competition in Domestic Market Threat of New Entrants: New entrants to an industry can raise the level of competition, thereby reducing its attractiveness. New entrants frequently bring additional capacity to an industry. Thus it is possible that prices will be bid down and industry profits diminished.
In the knitwear industry, new entrants could quickly enter the industry because it costs little in time or money to enter the market and protection for the key technologies, so that new competitors can quickly enter the market. Threat of Substitutes: Substitutes are new products (or services) that are quite different than the original product or service. A threat exists when a product’s demand is affected by the price change of a substitute product. When the demand for a product declines due to either lower prices of better performing substitute product, low brand loyalty, new current trends or low switching cost.
There is a high threat of substitutes in the knitwear industry such as sweater, cardigan and cashmere or other dressing and the fashion trend change in every season, people wants to buy the fashionable clothing and make the elastic of the knitwear is very gig. Discount Sale Periods: The brand will have its “End of Season Sale”, “Mid-season sale”, allowing customers to buy the merchandise at a lesser price, which would increase the overall sales of the company. Similarly the store in Hydrated has done 10 Million worth sale in the month of March which is a really good number.
Membership: The investment in retaining an existing customer is always lesser than investment in attracting a new customer. Tommy Hillier focuses on retaining the existing customers by giving them memberships so that they get discounts on the regular researches they make. The company also provides gifts on their birthdays and anniversaries, wishes to the preferential members in order to increase their brand loyalty. Gift Voucher System: On good purchases Tommy Hellfire gives gift vouchers in the form of discount as a promotional strategy.
Visual Merchandising: Visual Merchandising is the art of displaying merchandise in a manner that is appealing to the eyes of the customer. Customer Relationship Management: Tommy Hellfire believes that Customer Relationship management is the strongest and the most efficient approach in maintaining and creating relationships with date strong personal bonding within people. Development of this type of bonding drives the business to new levels of success Tommy Hellfire focuses on the following touch points are main for communication Memberships, Gift Vouchers and gifts are part of CRM.
Learning from this project: Daily Sales Report: Sound financial tracking begins with the accurate recording of sales. The Daily Sales Report (ADS) is the core tracking element for controlling cash, measuring cost vs.. Sales performance, and forecasting future sales. Sale Trend Analysis: The trends for sale of a particular product or service or for a range of products and revise are certainly necessary to be analyzed in order to obtain an idea regarding the present condition of sales. Tally-Shoppers Software: Tally is an accounts and inventory management software which is having many other features too.
With the latest version of this software Tally you can 1. Do all basic accounting functions, 2. Manage your store and items, 3. Do the Job costing, 5. Get many reports which are useful for day today functions, 6. File your tax returns like prepare balance sheet, profit and loss statement, VAT forms, ADS, returns, Service tax returns, e-ADS filing, Excise forms, FAT reports and forms, 7. Maintain budgets, scenarios, 8. Manage data over different locations and synchronize it and many more other features.
Conclusion: Tommy Hellfire brand believes in the concept of attracting new customer with retention of the old customer through strategies like membership. The brands key customers are the upper middle class and high class members. The brand focuses on accommodation of the customer and provide them a better service. According to the sale trend reports the apparels are the most selling merchandises. The maximum sales take place on weekends than the week days Bibliography: http://www. PH. Com/PDF/annual_reports/2012/arrear. HTML? Passengers=18