Kindly find below details of few competitors and the advantages we have on them, you can pick and choose whatever you think appropriate.
Can Am Trading Ltd.
Can Am Trading Ltd. offers a large selection of embroidered, batten burg lace, crochet lace tablecloths and runners, bedding and accessories. Can Am Trading Ltd. is located in Brampton, Ontario, where the company has a warehouse. Can Am Trading Ltd. participates in several trade shows each year, including Toronto Gift Show, Alberta Gift Show, Montreal Gift Show, and Maritime Gift Show.
Oriental Tang Inc.
Oriental Tang Inc. is the brother company of Sinorite Inc., which has been selling table runners and tablecloths in Germany and U.S. for over 20 years. Oriental Tang Inc. is now selling:
- 100% polyester, embroidered, elegant lace doilies, placemats, table runners and large tablecloths
- 100% cotton embroidered tea towels
- Kitchenware such as potholder, oven mitt, and bread box
- Embroidered and tapestry handbags
Oriental Tang Inc. has a showroom in Scarborough, Ontario. Oriental Tang Inc. participated in three industry events in previous years, Toronto Gift and Home Market, Alberta Gift and Home Market, and Quebec Gift Fair.
Hong & Arts Inc.
Hong & Arts Inc. has been operating since 2007. Hong & Arts Inc. offers quilts, bed sheets, sheet sets, pillows, covers, bed skirts, towel sets, tablecloths, and curtains. The company is located in Markham, Ontario and is delivering in U.S. and Canada. Hong & Arts Inc. had imported 94.2% of its products from China and 5.8% from Hong Kong (SAR, China), since the beginning of its operations.
Another advantage is the favorable location.
Victoriana Imports is located near the Tomken Road, Ontario 401 Express, ON-410 and Express Toll Route. Furthermore, the area is well known for similar businesses catering to giftware. For these reasons, there is a large flow of potential customers who are likely to visit the Company’s showroom. Additional, since the Victoriana Imports’ warehouse is near a couple of main roads, the Company will be able to deliver its products in timely efficient manner. The Company plans to open additional showrooms in Saskatchewan, Nova Scotia, Alberta, and British Columbia. By being closer to its customers, the Company will be able to reduce its transportation costs and showcase its products to a wider customer base. These locations will provide an ideal opportunity for the growth and expansion of Victoriana Imports.
1.1.1 Competitive Advantages
Victoriana Imports add new collection of its products lines each year. These collections are designed according to latest industry trends and customers’ demand. Customers are able to choose from a variety of linens, night dresses, and other products, which vary in style from colorful and unique to simple but stylish. By offering new collections of all seasons in each year, the Company is able to satisfy the constantly rising customers demand.
Victoriana Imports is able to offer a high degree of customization due to its relationship with reliable suppliers, who manufacture the products according to Company’s specifications. Historically, the Company has benefited by undertaking larger scale custom manufacturing that has added above average profit margins. The Company plans on promoting custom design projects. An example of a custom designed project was creating an embroidered tea towel to commemorate Canada’s 150th year anniversary. The company was ordered to produce over 1500 dozens sold at $24.00 per dozen or $36,000 of additional revenue. Therefore, the Company’s customers are able to order products with specific size, material, design, style, and pattern. The high degree of customization allows each customer to obtain a product as desired and ensures unique results.
Well-established Supplier Network
Over the past ten years, the Company has established a stable business relationship with four main suppliers from China. Having reliable suppliers in China has been of high importance for Victoriana Imports, since 95% of its products were imported from China previously. Now company has also imported a cotton line shipment from India, which is much awaited by the clients. Expanding the current network of supplier will enable the Company to leverage its ability to expand its client base. Additionally, the Company will be able to import their products at favourable terms, and therefore offer those products at more competitive prices. These supplier markets include India, Indonesia and Bangladesh. These geographic markets will help leverage our continued competitiveness within Canada.
1 Business Description
Victoriana Imports operates as a wholesaler of a line of specialty fine cut-work and embroidered table linen, as well as designer cotton nightdress garments. In addition to these products, the Company offers bedding sets, cushions, blouses and tunics, and different home accessories.
The “Victoriana” brand has existed for more than 13 years and is a well known brand name in Canada among gift and specialty retailers. The Company has been the member of The Canadian Home & Market Trade organization, previously known as the Canadian Gift and Tableware Association since 1992. As a member of this organization, the Company has gained valuable experience and knowledge about the industry trends, demand determents, and market movements.
The Company imports 95% of its products previously from China. Victoriana Imports has established a business relationship
with suppliers from China and India
The Company has already established a loyal customer base with more than 1,000 retail customers, which includes retail pharmacies, hospital gift shops, and specialty gift stores. At the moment, the Company has corporate head office and principal showroom which are located in Mississauga, Ontario. The new management plans on expanding their outreach to other provinces that would create a further competitive advantage serving the Maritimes cities( Nova scotia, New Brunswick, PEI, Newfoundland and Labrador) and Western province such as Alberta. By having showroom in several locations, the Company will be able to reach a wider audience, ensure on-time delivery of its products, and decrease its transportation costs.
In order to expand its customer base, the Company plans to start wholesaling of additional Kashmir Handicrafts products, such as pashmina shawls, Carpets, wollen scarfs, papermashe decorative area rugs, drapes, and uniforms used by medical professional such as technicians, doctors and nurses, PPE Kits and other healthcare products such as Walking aids, C-Pap Machines, Bi-Pap machines and Oxygen concentrators. By expanding its offer, the Company will be able to target more home furnishing retail stores, more Pharmacies, Surgical suppliers and hospitals as well.