Message from the CEO
IDEA launched KurveShop.com several months ago, an online retail store. The purpose of the store is three-fold, and the intention is to support our network of retailers.
First, to support our retailers via referral. When we receive a retail order, we first try and direct the customer to nearby retailers. We have often found customers don't know where to find Kurve products locally. Many of these customers would prefer to try on the garments before purchasing, or would rather support their neighborhood boutiques or dancewear stores. Through this referral process, the intention is to promote shopping locally, and to support our retailers.
Second, to define Manufacturer Suggested Retail Pricing (MSRP) in a manner that both establishes price expectations for our brands, and also in a manner that supports our retailer's need for pricing flexibility. Our MSRP is based on several factors, including costs, market demand, competition, and our intended position in the market.
Our intended position in the market for our various brands is USA-made, well-designed, high quality, high-performance garments that are both fashionable and practical for their intended activities (dance, nightclub, sports. etc.). As part of positioning our brands, last month we increased the MSRP prices of products in the KurveShop.com website. Nationally, we feel the revised MSRP pricing reflects the high quality of our seamless garments and continues to be a good value. At the same time, we know retailers need to establish retail pricing in a manner that responds to local market expectations. Because our wholesale prices continue to remain the same, this should provide flexibility for you, as a retailer, to establish profitable pricing and also offer discounts and sales which work best for your local customers.
Third, to create additional brand awareness by showcasing our products, including describing the features and benefits for our various styles. Kurveshop.com displays the full range of our products. As part of creating brand awareness we also continue to interact with, listen to, and support the dance community, and reach out using social media. We are beginning to do the same with the fitness community for our new Kurve Sports line. As brand awareness continues to develop, this should benefit you as a local retailer.
We will do whatever we can to support you and your success with our products. We can be successful only if you are successful. If you have any comments or suggestions, please contact us. Thank you for your support, and we wish you success.
CEO of IDEA
Saturday, May 31, 2014