09/24/14

Jack Erwin

I adore anything à la mode. When I’m not bundled  up in a cocoon of sweaters studying, I embrace my inner fashionista.

Sometimes I wish I could sport men’s wear. Now, I don’t mean full on suits and ties; I mean legitimately fashionable, minimalist finds – like these really cute loafers.

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I swear I’m not the only teenage girl who finds these extremely chic.

 

Jack Erwin is an online brand that sells classic men’s shoes advertised as “well-crafted” and “honestly priced”.

This is where I begin to discuss the story of two normal men who produced a diamond in the shoe industry. I first discovered the brand when I came across this article from Business Insider.

In a nutshell, the story follows Lane Gerson and Ariel Nelson on their journey to create classy and affordable footwear.

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Courtesy of Business Insider/Rebecca Borison: Lane Gerson (left) and Ariel Nelson (right)

Thus, the duo slapped together some funds and after some business magic – their business was born! Jack Erwin, a year ago from today, debuted with its first 3,000 pairs of shoes in stock online.

This brand is phenomenal – their utmost goal is to become the next classic; Gerson says they aspire to become a brand rooted in heritage and tradition, similar to the Hudson’s Bay and other large department stores. They also mention that they are working on these three important factors of business:

  1. perfecting the actual products
  2. facilitating supply chain & logistics
  3. improving customer service

Stay tuned for part 2 where I analyze their business plan! But for now, here’s a question to keep you occupied – would you buy Jack Erwin shoes?

09/17/14

How Simple is Business?

Coming straight out of high school, I had a very extensive range of vocabulary words embedded within my business brain. For one, there was the term “CEO” – defined by me as “a person that makes lots of money.” I also acquainted myself with the term “marketing.” I knew that it had something to do with bright colours and happy people on billboards.

Needless to say, three weeks into the school year, my terminology base has fortunately been broadened and refined.

One week ago, I had anticipated the class on Operations to be a “fun” (note the scare quotes) class about logistics and management. My idea of operations was scandalous; I had this crazy notion that it would be all about numbers and trucks. Thanks to the required prep readings and guest speaker Professor Nahesh Nagarajan, I walked out of class as a new, better informed individual of what operations is actually about: a mélange of numbers and trucks transforming inputs to outputs in the most efficient, effective, and cost-minimizing manner.

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From Tempfix Solutions Limited

However, this blog post isn’t simply about my reflections from that operations class. This post is actually inspired by six words that will resonate throughout my four (or more) years at Sauder and well into my adult career:

INCREASE DEMAND

CHARGE MORE

CUT COSTS

And there you have it – the secret of business, as outlined by Prof Nagarajan.

Fundamentally, those six words are the foundation of today’s business, but to really push the gears and start reaping profit requires the brainpower of more than just innovative people and their buddies; it takes the efforts of a team of motivated individuals who strive to fulfill a need in society.

Now, the question I pose: is business simple and straightforward or is there some secret formula to be revealed?

09/10/14

“One Size Fits All”?

Henry Ford, founder of the once prosperous Ford Motor Company once said, “A business that makes nothing but money is a poor kind of business”. Clearly, the majority of corporations have a number of goals in mind but the predominant target that soars above all is profit.

Needless to say, many contemporary companies uphold additional elements that distinguish its reception in today’s society, bringing these to a level comparable to mere profit. For instance, the infamous American retailer “Abercrombie & Fitch” has undergone years of criticism for its brand image – the idea of worshiping exclusively “thin and beautiful” and likewise “cool, good-looking” humans.

From Abercrombie & Fitch Online

Another popular clothing brand is Brandy Melville. Characterized by its California-chic style, this blooming retailer faces a similar affair as Abercrombie. Loved by the petite and thin, loathed by curve-bearing women exceeding size four, Brandy Melville too received backlash for its “one size fits all” craftsmanship.

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From Brandy Melville USA, Facebook

Both trendy brands have ostracized a large population of women. Abercrombie has explicitly confined their target market to a slim percentage of Americans while the latter brand has no plans in changing its sizing policy. The questions I pose today stand, is this pair of designers targeting the slim market a mere twist of fate, or are they acting upon business (un)ethics to cleverly evoke a particular image?  And relating to Ford’s quote, are these two brands ‘’successful’’, with their sky-high profits but towering criticism?

I believe Abercrombie and Brandy Melville have pushed their image to be exclusive for marketing purposes and are, in the heart of Friedman theory, ‘’successful’’ – because ultimately, their exclusivity is what makes them so desirable in today’s public.