Table Colombia Challenge
| UserId | 298 |
|---|---|
| Business Name | Four Brothers |
| Application Date | 09/04/2019 |
| Website | https://www.shopfourbrothers.com/ |
| Location Headquarters | Carrera 15 # 82 -65 Bogota, Cundinamarca 110121 Colombia Map It |
| Legal Status | Incorporated |
| Core Team Languages |
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| Contact Name | Yvette Chaskel |
| Email Address | Email hidden; Javascript is required. |
| Phone Number | 3006580571 |
| Problem: Describe the problem you solve. | The contemporary man increasingly has a greater interest in fashion and, therefore, also faces the need to find versatile and striking garments. In our market research we found that men are not happy with the offer currently available to them, and how they are constantly struggling to find a brand that fits all of their needs: design, quality, uniqueness, sustainability and affordable prices. The essence of our brand is to create classic designs, with fun touches, that do not go out of style. Our clients can feel unique and comfortable, as our products are made with premium materials, whilst maintaining an affordable price. |
| Solution: Describe your solution and product road map | At Four Brothers we understand our customers needs, and have created "Your Everyday Brand". We offer versatile garments that are made in Colombia, which can be word daily and with which men feel comfortable and current. We have been able to negotiate with our manufacturers to ensure that we are able to offer great quality at affordable prices for all. Through our business model we join the sustainable fashion trend, making sure we minimize our impact on the environment while exercising social responsibility. All of our products are made in Colombia, this way we can guarantee their quality and ensure that they are being manufactured under the best conditions. We also try to use only natural materials in our garments, and have created 100% biodegradable or reusable packaging. |
| Market opportunity: Describe the opportunity. Include global market size, trends and risks. | Four Brothers began in Colombia, where there was a clear gap in men's fashion wear. Men were not happy with the offer currently available to them, and we came in to offer something different, affordable and of great quality. Although we are interested in growing our brand within Colombia, we are also focused on exporting especially to other Latin American countries and the USA. Colombia: As we continue to position ourself in the Colombian market, and get more exposure with our allied stores, we are seeing a constant growth in sales. But as we are mainly an online store, we are especially excited by the ecommerce forecast growth that is expected to hit the country in the next few years. As larger players enter the game (Amazon for example) we will be the first to jump on board, and leverage on them to create our own growth. This is especially exciting as we can maintain our low costs throughout this business model. International markets: Working with distributers in other countries, we will be able to penetrate new markets and begin to position ourselves in the international markets. Other Latin American countries are specially interesting since they also lack many clothing options for men, while the USA is interesting due to its large online based consumer culture. |
| Competitive Advantages: Describe your top competitors in Colombia and globally. Remember that there are direct and indirect competitors, so include both if relevant. Enumerate and explain your main competitive advantages. Include IP protection. | Our main competitors are other clothing brands in Colombia: Arturo Calle, Inditex (Zara, Massimo Dutti), and new upcoming designs such as Whitman, Loopzu, London Box, Victor del Peral. We have been able to create a brand that speaks for itself, that has a clear personality and has created a bond with our clients. We have the best prices in the market, for high quality products. We make sure we use premium materials, and have a very strong quality check control, whilst maintaining competitive prices. |
| Market fit: Describe how much your solution has been validated by potential customers and provide references that have tried or reviewed your solution. | We are offering an alternative to menswear in a market that was screaming for more options. We have received great feedback form the public who was aware of the issue, and we have created a solution for many people who are looking for gifts for men. Usually men would shop either when they traveled, or in Colombia because they "had to". Now they can find creative fashion alternatives not only in Colombia, but made in Colombia. |
| Strategy and plans: Explain your business model and go-to-market strategy. Include partnerships you are considering and your key performance indicators. | Although we have our own store front, and focus mainly on our ecommerce business, we have a partnership system set up that brings constant orders and cashflows. We have made personalized socks for various brands to give as gifts to their associates (Dominos, Aruba, within others.) and have distributer stores set up across the country including in the duty free area in the airports. We are constantly looking for new places to exhibit and further create an increasing client base. |
| Team: Describe your main team and ownership. Include brief bio of team members. | Four Brothers has two managing and working partners, and one investor. The two working partners are Daniela Rodriguez and Yvette Chaskel, both Colombian born and raised females with a passion for fashion. |
| Financials and Capital needs: Provide 3 years projections. Describe main milestones to be reached. | As we are looking to grow within the Colombian market and create more partnerships with companies, we are also hoping to create a strong bond with international distributors so they can expand our company. We are looking to increase our sales in future years in a 63%, 70%, 30%, accordingly. |
| Do you believe your business has an impact on your community? If so, how? This could mean an impact on your employees and their families, the people receiving your services, or the city/region overall by providing a service for the environment, health, or resilience, for example | Through our business model we join the sustainable fashion trend, making sure we minimize our impact on the environment while exercising social responsibility. All of our products are made in Colombia, this way we can guarantee their quality and ensure that they are being manufactured under the best conditions. We also try to use only natural materials in our garments, and have created 100% biodegradable or reusable packaging. |
| EntrepreneurId | 415 |
| ProjectName | Four Brothers |
| Status | Enviada |
