Foxy Originals Swot Analysis
OVERVIEW
Founded in 1998 by recent university graduates Jen Kluger and Suzie Orol, Foxy Originals, a Toronto-based jewellery company, grew to become a well-known designer and producer of high-end jewellery with a strong presence in the Canadian market. Foxy Originals’ high- quality necklaces, bracelets, and earrings are currently sold in over 250 Canadian boutiques. The company’s fast-growing customer base consists mainly of style- and price-conscious women between the ages of 18 and 30 years old. The company’s ability to satisfy huge demand for low-priced high-end jewellery gave it a competitive advantage in a market that long had overlooked low-income young women. As a result, Foxy Originals had a remarkable 400% growth (Exhibit 1) …show more content…
Foxy Originals owners, Kluger and Orol, are the company’s greatest assets. Orol’s parents owned a successful metal manufacturing company that specialized in making medals and jewellery. Orol became familiar with the most effective and efficient jewellery production methods. Kluger had been designing and selling her own jewellery since she was fifteen. Kluger’s experience in jewellery fashion and design helped the company stay ahead of the latest trends in the ever-changing jewellery market. Orol and Kluger’s extensive experience in jewellery design and production gave their company the strength it needed to compete in the brutal high-end jewellery market. In addition, one of company’s key strengths is its ability to produce high-end jewellery while keeping production costs at a minimum. By combining high quality with low prices, Foxy Originals was able to gain market share at an unprecedented rate. Gaining a decent market share gave the company the brand recognition it needed to secure shelf space at 250 boutiques nation-wide. A strong market presence has translated into a healthy financial gain that allows the company to continue its current operations while exploring expansion
Founded in 1998 by recent university graduates Jen Kluger and Suzie Orol, Foxy Originals, a Toronto-based jewellery company, grew to become a well-known designer and producer of high-end jewellery with a strong presence in the Canadian market. Foxy Originals’ high- quality necklaces, bracelets, and earrings are currently sold in over 250 Canadian boutiques. The company’s fast-growing customer base consists mainly of style- and price-conscious women between the ages of 18 and 30 years old. The company’s ability to satisfy huge demand for low-priced high-end jewellery gave it a competitive advantage in a market that long had overlooked low-income young women. As a result, Foxy Originals had a remarkable 400% growth (Exhibit 1) …show more content…
Foxy Originals owners, Kluger and Orol, are the company’s greatest assets. Orol’s parents owned a successful metal manufacturing company that specialized in making medals and jewellery. Orol became familiar with the most effective and efficient jewellery production methods. Kluger had been designing and selling her own jewellery since she was fifteen. Kluger’s experience in jewellery fashion and design helped the company stay ahead of the latest trends in the ever-changing jewellery market. Orol and Kluger’s extensive experience in jewellery design and production gave their company the strength it needed to compete in the brutal high-end jewellery market. In addition, one of company’s key strengths is its ability to produce high-end jewellery while keeping production costs at a minimum. By combining high quality with low prices, Foxy Originals was able to gain market share at an unprecedented rate. Gaining a decent market share gave the company the brand recognition it needed to secure shelf space at 250 boutiques nation-wide. A strong market presence has translated into a healthy financial gain that allows the company to continue its current operations while exploring expansion