ClosetFox, LLC is a Florida Limited Liability Company. ClosetFox will be the best of the best in the category of online shopping portals for new apparel and accessories. ClosetFox will also create a new variation of “online community” designed to actually make money for the Company and its investors by allowing its members (subscribers) to post and sell their gently used and desirable clothing items within their own individual member ClosetFox page. What will set ClosetFox apart from any other online store or community portal is the collection of individual user data that will be captured when members create profiles for themselves and family members. These profiles will become the intellectual property of ClosetFox and will be used to enable additional and substantial revenue growth for the Company discussed later in this chapter.
ClosetFox will allow members to collaborate with each other through Business-To-Business (B-2-B) modules and enhance customer transactions with Business-To-Consumer (B-2-C) modules. ClosetFox will be much more than an online shopping portal; it will be an industry transforming platform that will alter the way people around the world interact with one another and shop for clothing. It will create a level selling environment for designers, small businesses, boutiques, and charities to compete with large manufacturers and retailers in a $450 billion per year market. ClosetFox will be perceived as an internet business that provides an unparalleled value and service to a worldwide community of buyers and sellers of clothing and accessories.
ClosetFox begins with a member signup page prior to allowing visitors to actually search for items. Once the member data is captured, the member will be presented with a unique search page where they can enter specific criteria about what they are looking for. The member can also create profiles for friends and family members and ultimately share these profiles with individuals within their respective community. This will allow parents to share a child’s profile with grandparents or couples to share their profile with one another; making it easier to shop for others. Members will then be able to choose to search either within the “new” database, “used” database or both to find exactly what they want at the price they want to pay.
People today are more cost conscience than ever but most are not willing to sacrifice the outward projection and confidence that wearing a designer brand offers. This is very prevalent amongst teens and young adults with a $24 billion per year buying power in the U.S. Due to the economy, the cost of production, exportation, warehousing, and retailing are driving the cost of designer brands to escalate beyond the buying power of their customers. Furthermore, today’s youth are targeted everyday by established designers leaving little room for new designers to enter the market place.
Moreover, parents today, who are feeling the pressure of a tightening economy, need to be presented with options to turn current clothing assets into cash to offset the demand of their ever growing children. On average, parents are projected to spend approximately $600 per child this season for back to school wear. Just how far their budget will go depends on the brand of clothing they buy. The kids however, are less sensitive to the overall impact and financial pressure parents are faced with and will not want to sacrifice peer acceptance by wearing off-brand clothing. By leveraging ClosetFox, parents will be able to search for highly sought after brands and styles and pay only a fraction of the cost of purchasing the same items as “new”.
ClosetFox promises to help correct and stabilize the industry by enabling the various subscriber types (discussed later in this plan) to create specific direct marketing campaigns designed to offer apparel items to a highly focused group of consumers that equally match, based on the members profile, the promotional item(s).