ACKNOWLEDGEMENT

The business plan for Classy Club is not merely the outcome of our dedication and effort but
also a reflection of our unity, innovation, and passion for timeless fashion. We extend our
heartfelt gratitude to the individuals and organizations who have supported and guided us
throughout this journey.

Firstly, we would like to express our sincere appreciation to FPT University for fostering an
exceptional academic environment that inspires creativity, critical thinking, and professional
development. The practical learning opportunities and invaluable experiences gained here
have been instrumental in shaping our entrepreneurial capabilities.

We sincerely thank our guiding supervisor, MBA Pham Thi Mai Anh, for her unwavering
support and dedication to mentoring us. Thanks to her dedicated guidance, she helped us
successfully complete our thesis.

Our heartfelt thanks also go to the esteemed Faculty of Economics at FPT University. The
comprehensive lectures and specialized knowledge imparted by the faculty have provided us
with a robust foundation to conceptualize, analyze, and implement our business strategy.

We would like to acknowledge the dedication and collaboration of the Classy Club team,
whose commitment, resilience, and teamwork have driven the successful execution of this
project. Each member’s contributions have been vital to overcoming obstacles and achieving
our shared goals.

Finally, we are profoundly thankful to our families, friends, and loved ones for their
unwavering support and encouragement. Their belief in our potential has been a source of
motivation and inspiration throughout this journey.

Classy Club hopes that this business plan will not only be a successful launch pad for the
strong future of the business but also contribute to the development of the community and the
industry that we are passionate about.
ABSTRACT

The Classy Club business plan outlines our vision to revolutionize the classic men’s fashion
market in Vietnam by offering quality clothing that transcends trends and focuses on timeless
elegance. By combining premium craftsmanship, modern design, and a commitment to
affordability, we aim to redefine how men perceive and embrace classic fashion.

Our target market includes men aged 25-30, with middle to high incomes, who value quality,
timeless aesthetics, and sustainability. Through extensive research on customer behavior and
market trends, we have identified a growing demand for durable, well-crafted, and versatile
apparel that blends tradition with contemporary preferences.

This business plan includes a comprehensive analysis of the classic men’s fashion market, a
clear value proposition, and detailed strategies in areas such as operations, marketing, human
resource management, and financial planning. Additionally, we have prepared a robust risk
management framework to mitigate potential challenges and ensure smooth operations.

Classy Club’s mission is to build a trusted brand where customers can confidently find pieces
that express individuality while maintaining a timeless appeal. Through our efforts, we hope to
promote a culture of sustainable and classic fashion, encouraging consumers to invest in
quality over quantity. This business plan is a blueprint for our growth, aiming to position
Classy Club as a leading name in Vietnam’s fashion landscape.
Table of Contents
CHAPTER 1: INTRODUCTION

1.1. Topic Background

1.2. Topic Relevance

1.2.1. Demand For Sustainable Fashion Trends................................................................7

1.2.2. Demand For the Trend of Combining Classic and Modern Fashion.......................8

1.2.3. Consumption Trends in Classic Men’s Fashion......................................................9

1.3. Market Problem Identification and Opportunity Recognition

1.3.1. Market Problem Identification.................................................................................9

1.3.2. Opportunity Recognition.......................................................................................12

1.4. The Story and Reason for Starting the Brand “ Classy Club” 13

1.5. Introducing Our Company: A Business Overview 14

1.5.1. Company Description............................................................................................14

1.5.2. Company Founders................................................................................................15

1.5.3. Vision, Mission, and Core Value...........................................................................16

1.5.4. Legal and Permits..................................................................................................17

1.5.5. Business description..............................................................................................18

CHAPTER 2: MARKET ANALYSIS 22

2.1. Market Overview 22

2.1.1. Overall Analysis of The Men's Fashion Market....................................................22

2.1.2. Overall Analysis of The Classic Men's Fashion Market.......................................24

 2.1.3. Market Demand and Trends..................................................................................26

2.1.4. Porter Five Forces Model......................................................................................28

2.2. Competition analysis 30

2.2.1. Direct Competitors.................................................................................................30

2.2.2. Indirect Competitors..............................................................................................35

2.2.3. Lesson And Practical Experiences.........................................................................39

2.3. SWOT Analysis 40

2.4. Customer Analysis 43

2.4.1. Methodology..........................................................................................................43

2.4.2. Survey Analysis.....................................................................................................44

2.4.3. Customer Persona..................................................................................................58

2.4.4. Customer Journey..................................................................................................61

2.5. Value proposition 63

2.6. Competitive Advantages.....................................................................................63

CHAPTER 3: KEY ACTIVITIES PLAN 65

3.1. Company Structure and Human Resource Orientation 65

3.1.1. Company Structure................................................................................................65

3.1.2. Human Resource Orientation................................................................................72

3.2. Key Resources 81

3.2.1. Financial Resources...............................................................................................81

3.2.2. Human Resources..................................................................................................82

3.2.3. Physical Resources................................................................................................83

3.3. Key Activities 83

3.3.1. Production Management........................................................................................83

3.3.2. Warehouse and Inventory Management................................................................86

3.3.3. Operations Management........................................................................................87

3.3.4. Customer Care Activities.......................................................................................90

3.3.5. Financial Management...........................................................................................91

3.3.6. Marketing Activities..............................................................................................92

3.3.7. Sale Activities........................................................................................................93

3.4. Key Partners 94

3.4.1. Product Supplier Partners......................................................................................94

3.4.3. Delivery Partners...................................................................................................95

3.4.4. Payment Service Partners......................................................................................96

3.5. Marketing Mix (7Ps) 97

3.5.1. Products.................................................................................................................97

3.5.2. Prices......................................................................................................................99

3.5.3. Place.....................................................................................................................100

3.5.4. Promotion............................................................................................................103

3.5.5. People..................................................................................................................106

3.5.6. Process.................................................................................................................107

3.6. Marketing Campaign 116

3.6.1. Marketing Objectives...........................................................................................117

3.6.2. Marketing plan for one year................................................................................118

3.6.3. Marketing Budget................................................................................................129

 3.6.4. Marketing KPIs....................................................................................................131

CHAPTER 4: FINANCIAL 136

4.1. Initial Investment 136

4.1.1. Initial Cost of New Assets (CAPEX)..................................................................136

4.1.2. Working Capital Investment................................................................................137

4.2. Estimated Sale and Cost of Goods Sold..................................................................138

4.3. Cost Structure..........................................................................................................139

4.3.1. Depreciation expenses.........................................................................................139

4.3.2. Cash Operating expenses.....................................................................................139

4.5. Estimated Cost of capital.........................................................................................142

4.6. Estimated Cash flow and Financial indicators.........................................................144

CHAPTER 5: CONCLUSION AND RECOMMENDATION 148

5.1. Risk Management 148

5.1.1. Supplier risk.........................................................................................................148

5.1.2. Risks from Production Workshops......................................................................148

5.1.3. Risks from Shipping Partners..............................................................................149

5.1.4. Legal Risks..........................................................................................................150

5.1.5. Inventory and Obsolete Goods Risks..................................................................150

5.1.6. Risks related to social media platforms...............................................................151

5.1.7. Financial Risks.....................................................................................................152

5.1.8. Customer Risks....................................................................................................152

5.1.9. Risks from Competitors.......................................................................................153

5.1.10. Fire and Natural Disaster Risks...........................................................................154

 5.2. Future-plan...............................................................................................................155

5.3. Conclusion and Recommendations..........................................................................157

5.3.1. Conclusion...........................................................................................................157

5.3.2. Recommendation.................................................................................................157

REFERENCES 158
CHAPTER 1: INTRODUCTION
1.1. Topic Background

Fashion is a language, an art form, and an essential component of culture. It is more than just
clothes (Davies, 2023).

Since ancient times, when clothing was used to cover the body, fashion has changed
constantly and is now more varied than ever. Throughout history, fashion has always reflected
changes in society and culture, from the ornate clothing of the nobility to the straightforward,
carefree looks of the youth (Agarwal, 2023). Today's fashion is even more diverse,
encompassing a wide range of styles such as Fast Fashion, Classic, Bohemian, Vintage,
Streetwear, etc., and each with its distinct characteristics, meeting the individual needs and
preferences of people all over the world as a result of technological advancements and
globalization (GTN Engineering, 2023).

According to this, classic fashion is returning as consumers become more conscious about
adopting eco-friendly and sustainable items. It is also praised for its classic designs that are
unaffected by fads that change quickly. Classic pieces like the little black dress, immaculate
white button-down shirts, and expertly fitted suits are regarded as wardrobe basics that are
meant to last a lifetime. As a result, classic fashion is known for its designs that combine
modern and traditional elements to produce timeless yet exquisitely crafted appearances.
Classic fashion finds its roots in the early 20th century, though its origins trace back even
further. Timeless looks have changed, frequently mirroring the prevailing social and cultural
norms. With their stylish and practical togas and kimonos, ancient societies such as Rome and
Japan served as prime examples of this. While males wore tunics and trousers, ladies wore
long, flowing robes and veils during the Middle Ages, influenced by religious and cultural
traditions. During the Renaissance, women's clothing featured rich textiles and puffed sleeves,
while men's clothing featured doublets and hoses.

Classic fashion, which originated in France, was popularized by Coco Chanel in the 1920s and
quickly rose to become a dominant trend. Over more than a century, classic style has
continually reflected the elegance and luxury of each decade. In the 1910s, Fashionable boots
and trench coats started to become more and more popular. The fashion industry was
impressed by slip dresses and ornate patterns by the 1920s. Clothing with fur collars and hats
with wide brims began to represent refinement in the 1930s. Tapered pants, pastel sweaters,
and camisoles made their debut in the 1940s and quickly became staples in fashion. Fashion
trends of the 1950s included flared skirts, midi skirts, and leather coats. Anti-war emblems,
floral shirts, and "bass" cut pants became fashionable in the 1960s. Along with neutral-colored
apparel and pantsuits, denim ensembles were popular among the elite by the 1970s. Lastly,
with styles like leggings, lace blouses, shoulder pads, and neon clothing, the 1980s were
unique (Yody, 2024).

More specifically, a major resurgence of traditional menswear is being driven by the growing
interest in fashion that both men and women have today. The hallmarks of classic men's
fashion are functionality, elegance, and simplicity; key pieces that are effortlessly paired for a
range of settings, from daily wear to business dress, are combined.

Figure 1.1.1: Classic Menswear

(Source: Internet, 2024)

From the 19th century forward, when fitted suits gained popularity in European society,
traditional menswear arose. Fashion for males was influenced by the standards set by
influential individuals such as Beau Brummell, who highlighted the significance of properly
fitting apparel. As fashion began to adopt more comfortable designs in the mid-20th century,
this style evolved while adhering to its fundamental principles, incorporating elements of
sportswear and casual clothes.

Additionally, comfortable tailoring is becoming more and more popular as a trend that offers a
classy yet carefree appearance. The resurgence of traditional designs highlights the allure of
historically significant objects that exhibit superior craftsmanship. In addition, the trend of
fusing traditional components with modern fashions enables people to show their individuality
while honoring customs. Classic fashion is still relevant and appealing to a wide range of
consumers who appreciate quality, refinement, and timelessness as these trends develop
(FashionBeans Editors, 2024).

1.2. Topic Relevance

1.2.1. Demand For Sustainable Fashion Trends

Sustainable fashion is increasingly influencing various sectors, including classic fashion. This
trend not only reflects a shift in environmental consciousness but also underscores the
enduring value of timeless garments. Classic fashion emphasizes quality, elegance, and
sophistication, aligning seamlessly with the principles of sustainability.

The sustainable clothing market is valued at $3.5 billion in 2023 and is projected to grow at a
compound annual growth rate (CAGR) of 9.5% from 2024 to 2032. As consumers become
more aware of the environmental and social impacts of fast fashion, there is a surging demand
for sustainably and ethically produced clothing (Singh & Singh, 2024).

Figure 1.2.1: Sustainable Clothing Market Size, by Type, 2021 - 2032

 (Source: Sustainable Clothing Market Size, 2024)

Today's consumers are not only seeking stylish garments but also prioritizing sustainability
and transparency in the production process. They are drawn to brands that are committed to
using eco-friendly materials and ensuring fair labor practices.

Innovative brands like Boo, Kilomet109, TimTay, etc., have taken the lead in offering
products that embody classic aesthetics while honoring cultural heritage and environmental
stewardship (Hoàng, 2024). These timeless designs, often crafted from natural and sustainable
materials, demonstrate that classic fashion is not only visually appealing but also reflects a
commitment to social and environmental responsibility. As consumer preferences evolve,
sustainable fashion is poised to not only fulfill the demand for style but also contribute
meaningfully to environmental preservation and sustainable development in the future.

1.2.2. Demand For the Trend of Combining Classic and Modern Fashion

In 2023, We saw a blending of traditional and modern fashion trends , as evidenced by 70s
and 80s-inspired designs that included large ensembles, midi skirts, and traditional jackets. By
fusing conventional materials and forms with new ideas, modern designers are drawing
inspiration from history and presenting a modern take on fashion.

In addition, minimalist design is growing in popularity. It is distinguished by soft color

schemes and clean lines that radiate refinement and elegance. Customers can emphasize the
individuality of each person's style by showcasing their individuality through various patterns,
thanks to the popularity of personalizing garments.

Due to the ease with which people can now explore and identify their distinctive style, social
media platforms such as Instagram and TikTok, along with the quick growth of online
commerce, have made fashion an indispensable aspect of daily life. In the end, these
contemporary trends not only bring forth new clothing but also have a significant influence on
classic fashion, demonstrating that it still has timeless appeal and enduring value and
reinforcing its importance in the present world (2Đẹp, 2024).
 1.2.3. Consumption Trends in Classic Men’s Fashion

Driven by a revived appreciation for high-quality, timeless designs, the global market for
classic men's fashion is expanding significantly. Incorporating the rebellious looks of figures
such as Marlon Brando and James Dean, classic design from the 1950s emphasized elegance
through black suits. Cardigans and turtlenecks, which were once again popular in the 1960s
and frequently worn with blazers for a chic style, marked a shift in fashion. Cary Grant's
renowned style from movies like Breakfast at Tiffany's and To Catch a Thief impacted the
widening of suits and the use of natural textiles (Napo Leon, 2022).

The current trend in classic men's fashion blends classic and modern styles while emphasizing
sustainability. Trench coats and wide-leg pants offer a sophisticated yet comfortable look,
while eco-friendly materials are prioritized. Neutral color palettes and layering styles create a
youthful and dynamic appearance. Street style featuring hoodies and retro sneakers, like
Converse and Adidas Stan Smith, remains popular. Furthermore, the emergence of
international e-commerce platforms has increased accessibility to high-end fashion items,
which is propelling market growth.

1.3. Market Problem Identification and Opportunity Recognition

1.3.1. Market Problem Identification
● Limited understanding of classic menswear

Classic fashion, with its timeless beauty and intricate details, has always been an endless
source of inspiration for designers and fashion enthusiasts. However, there is still a lack of
knowledge and comprehension of traditional fashion, particularly among younger people.

Classic men's fashion today has yet to be widely recognized in the fashion community. Most
men have neither the opportunity nor the environment to explore and wear classic fashion.
They often lean towards fast fashion or more accessible styles, resulting in lower demand for
vintage items. Many still view classic attire as outdated and unsuitable for modern life. They
assume that this style is reserved for special occasions, office workers, or necessary business
attire, and it’s often limited to formal events like weddings or corporate gatherings. This
perception overlooks the fact that classic fashion can be a part of everyday life. Consequently,
few people explore how to incorporate vintage clothing into daily activities, limiting the
development of personal style with classic elements (Schlueter, 2022).

This creates a niche market with fewer customers and slower growth, making it difficult for
classic men's fashion brands to gain significant market share.

● High competition from the fast fashion market

According to Dr. Preeti Arya, Assistant Professor of Textile Development and Marketing at
the Fashion Institute of Technology in New York, fast fashion is a business model focused on
producing large quantities of clothing quickly to meet consumers' demand for "following
trends."

Figure 1.3.1: Fast Fashion Brands (Source: Internet)

The classic global men's fashion market is currently facing numerous challenges due to the
constant changes in fast fashion trends. Modern and convenient trends have overshadowed
classic styles, which require more attention to detail, higher quality, and a higher cost. This
might lower consumer demand for classic, iconic fashion items.

Consumers in Vietnam today, especially the younger generation, tend to prefer fashion styles
that change seasonally or follow social media trends. Fast fashion quickly meets this demand
by providing consumers with affordable "trendy" clothing items. To keep up with new trends,
fashion and shopping "enthusiasts" always prioritize the most convenient and budget-friendly
options, which are fast-fashioned.

This creates direct competition with classic fashion, where products are often long-lasting and
not easily changed according to short-term trends (VietnamPlus, 2023).

● Fierce Competition from International Menswear Brands

The middle class and younger generations are becoming increasingly interested in global
fashion. International brands offer products with sophisticated designs, diverse styles, and
follow trends, making it easy for consumers to switch to foreign products rather than
supporting domestic brands or classic Vietnamese fashion.

Additionally, the presence of many famous international fashion brands in Vietnam or

international e-commerce platforms such as Amazon, ASOS, Farfetched, etc., allows
consumers to easily purchase fashion products from various international brands without
having to go to stores. This creates numerous challenges for domestic businesses in retaining
customers.

International fashion brands are increasingly exploiting the Vietnamese market, putting
significant pressure on domestic classic fashion brands to maintain their market share and
create a unique identity.

● Inconsistent quality

In the Vietnamese market today, many classic fashion stores are not transparent about the
origin of their products. While some stores advertise vintage items as high-end "vintage
fashion" or imported from Europe these products may be imported from unknown sources or
even counterfeit, recycled goods from China.

This affects customer trust, making it difficult for consumers to assess the true quality of the
product, reducing confidence in the classic fashion market.

● Supply chain and sourcing issues

Vietnam's classic men's fashion market is facing challenges related to sourcing high-quality
fabrics and materials. Vietnam often must rely on supplies from other countries, from Europe,
Japan, or China. However, the supply from these regions is often unstable, leading to many
stores facing difficulties in maintaining a supply of quality products. Import batches may be
irregular, causing stores to lack products or have products that are inconsistent in quality and
style. This affects the ability to provide a diverse and regular supply of products to customers.
1.3.2. Opportunity Recognition

From the market problems above, the classic menswear has a lot of opportunities to develop in
Vietnam market.

● Increasing consumers’ awareness of menswear

Classy Club can leverage social media platforms such as Instagram and Facebook to post
videos showcasing its vintage collections and share stories about the origins and inspirations
behind each product. These videos may include styling guides, tips on personal style
development, and suggestions on how to blend vintage with modern elements to raise
awareness of classic fashion. Collaborating with fashion bloggers or designers to host sessions
about the history and functionality of vintage clothing, or even organizing fashion shows,
would create opportunities to communicate the value of classic fashion to a larger audience.
Classy Club can also utilize paid advertising campaigns to expand its reach, thereby increasing
brand awareness and the perceived value of its products.

● Providing quality products at affordable prices

To ensure the provision of quality products at reasonable prices, Classy Club needs to source
materials and work with reputable manufacturers, establishing long-term relationships to
guarantee stable input costs and high material quality. Additionally, the shop could consider
purchasing materials in bulk or seasonally to take advantage of discounted prices. Investing in
production technology or efficient supply chain management can help reduce operational costs
without compromising product quality, thereby enabling Classy Club to compete more
effectively with fast fashion.
 ● Taking advantage of e-commerce channels

According to the Institute for Strategic Studies (2024), nearly four hundred e-commerce
platforms have registered to operate in Vietnam, indicating that competition among platforms
is accelerating. Specifically, in the first 5 months of 2024, the total revenue of Gen X fashion
across five e-commerce platforms reached 316 billion VND, an increase of nearly 90%
compared to the same period last year, with two million products sold successfully. The
growth is driven by the TikTok Shop platform, with an outstanding growth of nearly 360%
compared to the same period, bringing in 126 billion VND in revenue for online sellers.

Notably, when considering the four platforms Shopee, Lazada, Tiki, and Sendo for product
categories for Gen X, men's fashion grew stronger than women's fashion. This shows the
strong development of e-commerce platforms for the men's fashion industry. Selling on e-
commerce channels will also optimize costs for premises, sales personnel, and operations.
Additionally, this also helps local brands reach customers more easily (Hảo, 2024).

1.4. The Story and Reason for Starting the Brand “Classy Club”

Recognizing that online shopping has transformed the shopping habits of many people in
Vietnam, e-commerce has emerged as a great opportunity for developing fashion brands. Over
three years of researching, experiencing, and building a personal brand in a classic style, Vinh,
one of our team members, observed how quickly the fashion world evolves. People constantly
chase market trends, influenced by the fleeting pleasures of buying. Many make impulsive
purchases after watching 30-second product review videos without fully understanding the
products or their usability. As a result, wardrobes are filled with items used only once or twice
or never at all.

Reflecting on this, Vinh envisioned a more sustainable approach to fashion: one that
emphasizes high applicability and timeless style, steering away from fast fashion and fleeting
trends. To turn this vision into reality, Vinh sought a team of like-minded individuals. He
reconnected with his university friends, who had shared a strong bond and deep understanding
of each other's strengths and weaknesses during their four years together. This synergy led
them to form a team and establish the Classy Club brand.
Classy Club is built on three core principles: Classic, Casual, and Minimal. The brand aims to
offer universally applicable products for those who love classic styles. Beyond providing
clothing, Classy Club seeks to help individuals shape their style and rethink their approach to
dressing, fostering a shift towards sustainable and mindful fashion.
1.5. Introducing Our Company: A Business Overview
1.5.1. Company Description

Type of company: Limited Liability Company

Company name: Classic Club Limited Liability Company

Address: 177, Khuat Duy Tien Street, Nhan Chinh Ward, Thanh Xuan, Hanoi

Charter capital: 1.2 billion VND

Information about the business:

● Email: classyclub2024@gmail.com
● Facebook page: https://www.facebook.com/classyclub
● Instagram: https://www.instagram.com/classyclub._/

Figure 1.5.1: Classy Club’s Logo

(Source: Authors, 2024)

Classic Club provides timeless men’s fashion at affordable prices. We are committed to
delivering well-crafted products that blend style and comfort seamlessly. Alongside our year-
round essentials like long-sleeved shirts and dress pants, we offer seasonal collections to add
more variety and freshness to your wardrobe.

At Classic Club, we ensure every piece reflects the enduring elegance of classic fashion,
making it suitable for any occasion. We believe that clothing is more than just fabric - it’s a
way to express your character and individuality. With our simple yet versatile designs, our
collections empower men to effortlessly dress for any moment in today’s fast-paced world.

Classic Club is proud to offer fashion solutions that are easy on your wallet, without
compromising on style or sophistication. We’re not just a retailer; we’re your trusted partner
in building a refined, personal style. Let Classic Club take care of your wardrobe, so you can
feel confident and ready to seize life’s every opportunity.

1.5.2. Company Founders

Classy Club Company was established in the form of a Limited Liability Company, to
optimize flexible management and protect the personal assets of its members. Below are the
detailed capital contribution structure and responsibilities of each founding member.

No. Name Contribution rate

1 Do Duc Vinh 40%

2 Cao Hai Yen 20%

3 Nguyen Thi Kieu Anh 15%

4 Tran Thi Minh Ngoc 15%

5 Nguyen Tu Anh 10%

Total contribution rate 100%

 Figure 1.5.2: Ratio of shares between shareholders (Source: Authors, 2024)

At Classy Club Company, decision-making is primarily based on the unanimous agreement of

all founding members. In cases where consensus cannot be reached, significant decisions will
be determined through a voting process, with the majority vote of at least 60% of shares
prevailing. This approach ensures that decisions reflect both a collective consensus and the
majority opinion, contributing to the sustainable and effective growth of the company.
1.5.3. Vision, Mission, and Core Values
1.5.3.1. Mission

The mission of Classy Club is to provide Vietnamese men with high-quality apparel that
combines timeless elegance with modern style, empowering them to confidently express their
fashion. The brand is dedicated to honoring Vietnamese cultural values in fashion while
adopting sustainable and environmentally responsible production methods. Classy Club is not
just a brand; it is a community that connects individuals who appreciate classic and
sophisticated style.

1.5.3.2. Vision

In the next three years, Classy Club aspires to establish itself as the leading brand in classic
and sustainable men's fashion in Vietnam. The company plans to diversify its product
offerings, optimize its supply chain, and expand its presence on e-commerce platforms like
TikTok, Instagram, Facebook, and Shopee. Classy Club will continue to operate its physical
store, host events to engage with the community of classic fashion lovers, and enhance the
overall shopping experience to solidify its position as the top brand in classic men's fashion in
Vietnam.
Over the next five years, Classy Club aims to expand its store network throughout Hanoi,
firmly establishing itself as the leading brand for classic men's fashion in Vietnam. The brand
plans to collaborate with local designers and artists to create exclusive products that celebrate
the nation’s rich cultural heritage. Additionally, Classy Club will boost its creative presence
through dynamic social media campaigns, extend its reach to international markets, and
integrate cutting-edge technologies such as artificial intelligence (AI) and virtual reality (VR)
into the online shopping experience. The brand will also champion sustainable products and
invest continuously in staff training to ensure consistent, professional service across its entire
network.

1.5.3.3. Core Values

The Pursuit of Perfection: We always start with the goal of challenging ourselves and end with
concrete actions, constantly improving and proactively moving towards “international
standards.”

Vietnamese Slogan: “Không chỉ bán quần áo, ở đây chúng tôi bán style”

At Classy Club, we not only bring clothes, but also introduce a masculine, simple and flexible
lifestyle. Each product is designed to become a part of your daily life, expressing minimalism
but no less sophistication, while honoring the wearer's identity and personality.

Respectfulness:

It is the top value at Classy Club. Every employee at Classy Club tries their best to do what
they have committed. When you violate the commitment, you will be responsible for the
consequences, come up with a solution and make a new commitment.

1.5.4. Legal and Permits

When the founders of Classy Club embarked on their journey to establish a business and
develop a brand, they chose the Limited Liability Company (LLC) model due to its numerous
advantages. In the fashion industry, LLCs are not only appropriate for small and medium-
sized enterprises, but they also provide Classy Club with a stable, manageable framework that
allows for the creation of a sustainable brand while adhering to legal regulations.
A key benefit of an LLC is limited liability, which stipulates that members are only financially
responsible for their capital contributions. This limitation is particularly important in the
fashion sector, where market trends and inventory challenges can create significant financial
risks. The LLC structure accommodates between 1 to 50 members, offering flexibility in
governance and facilitating prompt decision-making (Trường, 2024). The absence of a
mandated minimum capital requirement enables Classy Club to initiate operations without
undue pressure regarding initial funding.

To establish Classy Club LLC, the following documents are required: an application for
business registration, a company charter signed by the capital contributors, and a list of capital
contributors for LLCs with multiple members. Each member must provide valid identification
documents (such as a national ID card, or passport). If the contribution is made by an
organization, the organization’s Business Registration Certificate must also be submitted. The
power of attorney is necessary if the applicant is not the legal representative of the LLC.
Additionally, documentation of the company's registered office and proof of payment of
registration fees must be included.

For its industry classification, Classy Club has selected code 1410, which corresponds to
clothing manufacturing. This design accurately reflects the company's primary business
activities and ensures compliance with applicable regulations. By registering under the correct
industry code, Classy Club enhances customer trust and streamlines administrative and
licensing processes, thereby supporting the company’s long-term growth strategy.

1.5.5. Business description

1.5.5.1. Products

Classy club divides our products into three levels:

● Core products: Classy Club aims to provide customers with a sense of refinement,
elegance, and sophistication. Beyond offering quality apparel, the brand delivers a
fresh perspective on style, along with the knowledge and insights it has thoughtfully
cultivated and refined over time.
● Actual products: Classy Club's actual products consist of exclusively designed
clothing, categorized into year-round products, seasonal products, and accompanying
 accessories. Each item in the design and production line is meticulously researched and
crafted based on the brand's unique ideas. Additionally, the use of diverse materials
enhances these products, making them a true reflection of the brand's personality.

Figure 1.5.3: The clothing products of Classy Club (Source: Authors, 2024)

● The product structure here will have three types: Year-round products (long-sleeved
shirts, dress pants); Seasonal products (summer: crocheted shirts, short-sleeved shirts,
shorts, linen dress pants, tank tops; autumn and winter: cardigans, jackets, blazers,
sweaters, wool dress pants) and accessories (belts, tote bags)
 Figure 1.5.4: The Classy Club's accessories (Source: Authors, 2024)

Enhanced products include warranty policy; return policy; online guidebook on how to
coordinate clothes, colors and how to use products for free for customers who have purchased
products; free tailoring service according to customer measurements; Holiday or new
customer promotions.

1.5.5.2. Services

About our services:

● Warranty policy: Classy club will guarantee customers 7 days from the date the
customer receives the product. Any product errors encountered during the production
or transportation process, the brand will exchange for a new product and fully cover
the costs incurred during the exchange process.
● Exchange policy: As with the warranty policy, 7 days from the date of receipt, if the
customer orders the wrong size, model, or color, the brand will also help the customer
exchange the product until the customer is satisfied.
● Free custom service according to customer measurements: because they own in-house
tailors, if the customer is meticulous, has different body proportions, ... they will
customize according to the customer's measurements on available products to better
suit the customer's body.
● Transportation service: Classy club is currently cooperating with a number of shipping
units: SPX, J&T, GHTK to be able to sell products nationwide. Shipping time will be
from 1-3 days depending on the area where the customer is located.
● Customer service: Classy Club has a dedicated team of staff who are regularly online,
ready to provide support and quickly address any questions or concerns customers may
have during the purchasing process.
CHAPTER 2: MARKET ANALYSIS
2.1. Market Overview
2.1.1. Overall Analysis of The Men's Fashion Market

The menswear market is expanding quickly and is becoming a significant part of the global
fashion industry. This segment is growing because of changing consumer trends, the rapid
growth of e-commerce, and the rising demand for casual and sportswear. Forecasts suggest
that this market will maintain steady growth in the coming years because the global menswear
market size reached US$ 593.5 Billion in 2023 and is expected to grow at a CAGR of 4.4%
from 2024 to 2030 (Grand View Research, 2023).

Figure 2.1.1: Men’s Wear Market Size 2020-2030 (Source: Grand View Research, 2023)

Now, brands are being encouraged to use eco-friendly materials by consumers' growing focus
on sustainable fashion (Deloitte, 2023).

The rise of direct-to-consumer (DTC) fashion brands has led to a rapid expansion of the trend
of personalization and customized shopping experiences at the same time. With sites like
ASOS, Zara, and Amazon offering easy and varied online shopping experiences, e-commerce
is a major factor in the market's expansion. The millennial generation's preference for high-
end apparel is a result of their increased purchasing power due to their acceptance of an
opulent lifestyle. Spending money on trendy clothes, party wear, and even sleepwear is a
common habit for many people. A modern consumer class with greater incomes and an
increasing passion for contemporary fashion has been created by rapid development and
increased urbanization. In the menswear market, occasion-appropriate apparel is becoming
more and more popular. Long-term market growth is anticipated to be fueled by the
digitalization of online shopping apps, rising purchasing power, and men's fashion
consciousness.

Figure 2.1.2: Menswear Market: Market CAGR (%), By Geography, Global, 2021 (Source: Mordor intelligence,
2024)

The Asia-Pacific menswear market is expanding rapidly, driven primarily by rising purchasing
power, a youthful population, and fashion trends in China and India. In China, the middle
class and an emphasis on quality are driving growth, while in India, the younger demographic,
and the need for clothing for different festivals are driving the market. The growing level of
competition in this market is also attributed to online shopping and partnerships with well-
known designers (Mordor Intelligence, 2024).

Despite its smaller size, Vietnam's menswear market is growing quickly due to the country's
expanding middle class and rising disposable income. This growth is projected to continue,
with an estimated Compound Annual Growth Rate (CAGR) of 3.68% from 2024 to 2029
(Statista, 2024). Western fashions have a considerable influence on men's fashion trends in
Vietnam, especially in big cities like Hanoi and Ho Chi Minh City. In Vietnam, foreign brands
that appeal to urban male consumers, like Zara, H&M, and Uniqlo, have been doing well
(Vietnam Business Forum, 2021).
 Figure 2.1.3: Coolmate.me (Source: Internet, 2020)

Furthermore, local companies like Canifa, BOO, and Coolmate are growing in popularity
because they provide priced yet fashionable goods. The increase in casual and sportswear
fashion is one of the most noticeable trends, particularly among young people who are
extremely interested in fitness and healthy lives. Additionally, e-commerce is growing rapidly,
especially on websites like Tiki, Shopee, and Lazada, which facilitate customer access to
fashion items (Thanhs team, 2024).

Nevertheless, men's fashion in Vietnam nevertheless maintains a distinct fusion of modernity

and tradition, with items such as the “áo dài” becoming very popular on important festivals.
This illustrates how local cultural values are preserved while embracing global trends are
balanced. Men's fashion in Vietnam faces challenges from price-conscious consumers to low
brand loyalty, particularly among younger generations. While sustainable fashion has gained
prominence on a global scale, Vietnam still has a low level of awareness about this problem
(Nguyen & Le, 2024).

2.1.2. Overall Analysis of The Classic Men's Fashion Market

The classic menswear market in Vietnam has been steadily growing, supported by rising
incomes, urbanization, and an evolving interest in professional attire among Vietnamese men.
This market segment typically includes suits, dress shirts, and formal accessories, which are
increasingly popular among Vietnamese men who prioritize professional and stylish attire.
According to a report, the total menswear market in Vietnam was valued at USD 5.2 billion in
2022, with the classic menswear segment accounting for 18% of the total fashion market. This
share is projected to grow to 22% by 2027 as more Vietnamese men adopt formal dressing,
particularly in professional environments (Nguyen, 2023).

Globally, the classic menswear segment holds a significant position, comprising about 30% of
the entire menswear market. This trend is particularly strong in regions like Europe and North
America, where formal and well-tailored clothing is ingrained in cultural and business
practices. Vietnam mirrors these global trends, with local consumers increasingly influenced
by Western styles. The rising presence of international brands in Vietnam has further
facilitated the adoption of modern, sophisticated menswear styles. This is particularly evident
in the growing demand for suits, formal shirts, and accessories among young professionals and
business executives who value well-tailored clothing.

The growth of Vietnam's classic menswear market is driven by several key factors:

● Middle-Class Expansion: By 2030, over 50% of Vietnam's population is expected to be

middle class, leading to increased demand for premium, stylish clothing (Delteil, et al.,
2021).

● Western Fashion Influence: Brands like Hugo Boss and Tommy Hilfiger are popular

among Vietnamese men, while local brands offer affordable, culturally relevant
options (Bảo, 2021).

● E-Commerce Growth: Online menswear sales rose from 20% in 2020 to 32% in 2023,

with projections suggesting they could reach 45% by 2027. Platforms like Shopee,
Lazada, and Tiki enhance access to both local and international formalwear (Vũ,
2023).

The following table provides a summary of market data and projections, highlighting key
growth areas for classic menswear in Vietnam:

In conclusion, the classic menswear market in Vietnam is poised for substantial growth, driven
by a rising middle class, the proliferation of e-commerce, and increasing exposure to global
fashion trends. As more Vietnamese men seek stylish and professional attire, the classic
menswear segment will continue to play a vital role in the overall fashion industry.

2.1.3. Market Demand and Trends

2.2.1. Sự tăng trưởng nhu cầu thời trang cổ điển tại Việt Nam
Với sự phát triển nhanh chóng của tầng lớp trung lưu tại Việt Nam, nhu cầu đối với các sản
phẩm thời trang chất lượng cao, độc đáo và có giá trị thẩm mỹ cao đang gia tăng. Trong đó,
thời trang cổ điển (classic/vintage fashion) đang trở thành một xu hướng nổi bật khi người tiêu
dùng tìm kiếm sự khác biệt và bền vững. Theo báo cáo thống kê của Online Library, 63% số
người thuộc thế hệ Millennials sẵn sàng chi nhiều hơn cho các sản phẩm có nguồn gốc thiên
nhiên và 88% người tiêu dùng trẻ (thuộc thế hệ Millennials và Gen Z) muốn mua hàng từ một
thương hiệu cam kết phát triển bền vững.

https://onlinelibrary.wiley.com/doi/full/10.1111/fcsr.12475#:~:text=Both%20 Gen%20Z
%20and%20 Millennial,items%20(Piggott%2C%202022).

Nhiều người ưa chuộng các thương hiệu thể hiện các giá trị văn hóa và mang lại cảm giác thân
thuộc, chẳng hạn như Uniqlo và Muji, nhấn mạnh vào chất liệu cao cấp và thiết kế tối giản
nhưng vẫn tiện dụng. Điều này cho thấy Classy Club có thể thu hút nhóm nhân khẩu học này
bằng cách kết hợp di sản văn hóa với các hoạt động sản xuất bền vững.

2.2.2. Thời trang bền vững và tiêu dùng có trách nhiệm

Người tiêu dùng hiện nay, đặc biệt là thế hệ trẻ (Gen Z và Millennials), ngày càng quan tâm
đến thời trang bền vững. Theo các báo cáo gần đây của Stern, Morganmyers và Newsroom
cho thấy xu hướng khách hàng tăng cường quan tâm đến dịch vụ và sản phẩm có nguồn gốc
thiên nhiên ngày càng mạnh mẽ:

● Các sản phẩm được tiếp thị là sản phẩm bền vững, thân thiện với môi trường mang lại
50,1% mức tăng trưởng thị trường từ năm 2013-2018, chiếm 16,6% thị trường tiêu
dùng về doanh thu trong năm 2018.
● Các sản phẩm được tiếp thị là sản phẩm bền vững tăng trưởng nhanh hơn 5,6 lần so với
các sản phẩm thông thường.
 ● Có đến 88% người tiêu dùng cho biết họ kiểm tra tác động đến môi trường của sản
phẩm trước khi mua sản phẩm.
● 72% số người được hỏi cho biết họ đang tích cực mua nhiều sản phẩm thân thiện với
môi trường hơn so với 5 năm trước, trong khi 81% cho biết họ dự kiến sẽ mua nhiều
hơn các sản phẩm bền vững trong 5 năm tới.
● 50% số người được hỏi sẵn sàng trả phí cao hơn cho các sản phẩm cam kết tính bền
vững.

https://subiz.com.vn/blog/tinh-ben-vung.html

Trong lĩnh vực thời trang cổ điển, việc sử dụng vải tái chế hoặc nguyên liệu thân thiện với môi
trường, kết hợp với các thiết kế cổ điển, là một xu hướng hấp dẫn, vừa đáp ứng nhu cầu thẩm
mỹ vừa đáp ứng tiêu chí bền vững. Những yếu tố này hoàn toàn đưa ra quan tâm đến thời
trang cổ điển và thương hiệu như Classy Club có cơ hội đáp ứng được tình trạng này.

2.2.3. Ảnh hưởng của phong cách sống và truyền thông số

Với sự phát triển mạnh mẽ của mạng xã hội, các nền tảng như Facebook, Instagram, TikTok,
và Pinterest đang thúc đẩy xu hướng thời trang cổ điển thông qua việc lan tỏa hình ảnh phong
cách sống sang trọng, thanh lịch. Theo báo cáo từ số liệu thống kê của Facebook,Việt Nam là
đất nước chiếm đến 66,2 triệu người dùng trên toàn cầu, đứng thứ 7 trên thế giới. Trong đó
nhóm tuổi lớn nhất của cơ sở dữ liệu Facebook là ở độ tuổi hai mươi và ba mươi. Đặc biệt,
theo báo cáo của công ty nghiên cứu thị trường QandMe cho thấy với 94% người được hỏi
thừa nhận đã cài đặt ứng dụng này và 70% sử dụng để liên hệ với các cửa hàng. Điều này cho
thấy Classy Club có thể sử dụng Facebook để tiếp cận được với nhóm khách hàng tiềm năng.

Ngoài ra các sàn thương mại điện tử tại Việt Nam hiện nay cũng đang có tốc độ phát triển
nhanh nhất khu vực, theo báo cáo Thương mại điện tử Đông Nam Á do OpenGov Asia công
bố.

Trong đó, Shopee giữ vững vị trí dẫn đầu với doanh thu khổng lồ 62.380 tỷ đồng, chiếm
71,4% thị phần GMV. Xếp thứ hai là TikTok Shop với 19.240 tỷ đồng, tương đương 22% thị
phần. Các mặt hàng quần áo và phụ kiện tiếp tục duy trì vị trí dẫn đầu về doanh số trên các sàn
thương mại điện tử. Cụ thể sau 5 tháng đầu năm 2024, doanh số ngành hàng Thời trang trên
các sàn TMĐT đạt 29.000 tỷ đồng, tăng trưởng 67% so với cùng kỳ năm 2023. Tổng cộng có
330 triệu sản phẩm được giao thành công đến tay người tiêu dùng, tăng 77%.

https://style-republik.com/cuoc-chien-gianh-thi-phan-thuong-mai-dien-tu-nganh-thoi-trang-
dan-dau-ve-doanh-so-phan-khuc-gia-thap-duoc-ua-chuong/

Đây là cơ hội cho Classy Club tận dụng hoạt động tiếp thị trên nền tảng số, sàn giao dịch để
tạo dấu ấn và mở rộng tệp khách hàng.

2.2.1. The Growth of Demand for Vintage Fashion in Vietnam

With the rapid development of the middle class in Vietnam, the demand for high-quality,
unique, and aesthetically valuable fashion products is on the rise. Among these, vintage
fashion is emerging as a prominent trend as consumers seek distinction and sustainability.
According to a statistical report by Online Library, 63% of Millennials are willing to spend
more on products made from natural materials, and 88% of young consumers (Millennials and
Gen Z) prefer to
https://onlinelibrary.wiley.com/doi/full/10.1111/fcsr.12475#:~:text=Both%20Gen%20Z
%20and%20Millennial,items%20(Piggott%2C%202022).

Many people prefer brands that reflect cultural values and provide a sense of familiarity, such
as Uniqlo and Muji, which emphasize premium materials and minimalist yet functional
designs. This suggests that Classy Club could attract this demographic by combining cultural
heritage with sustainable production practices.

2.2.2. Sustainable Fashion and Responsible Consumption

Consumers today, particularly younger generations (Gen Z and Millennials), are increasingly
concerned with sustainable fashion. According to recent reports by Stern, Morganmyers, and
Newsroom, the trend towards customers becoming more focused on products and services
with natural origins is growing stronger:

● Products marketed as sustainable and environmentally friendly saw a 50.1% market

growth from 2013-2018, accounting for 16.6% of consumer market revenue in 2018.
● Sustainable products grew 5.6 times faster than conventional products.
● 88% of consumers report checking the environmental impact of products before
purchasing.
● 72% of respondents said they are actively buying more eco-friendly products
compared to five years ago, while 81% expect to purchase more sustainable products
in the next five years.
● 50% of respondents are willing to pay a higher price for products that are committed to
sustainability.

https://subiz.com.vn/blog/tinh-ben-vung.html

In the vintage fashion industry, the use of recycled fabrics or eco-friendly materials, combined
with classic designs, is an attractive trend that meets both aesthetic demands and sustainability
criteria. These factors provide an opportunity for vintage fashion brands like Classy Club to
cater to this growing interest in sustainable fashion while offering timeless styles.

2.2.3. The Influence of Digital Media and E-Commerce Platforms

ta from Facebook statistics, Vietnam has 66.2 million users globally, ranking 7th in the world.
The largest age group in Facebook's database is in their twenties and thirties. Notably, a report
from market research firm QandMe shows that 94% of respondents acknowledged having the
app installed, with 70% using it to connect with stores.

https://leading.vn/en/blogs/social/facebook-statistics-in-vietnam/

This shows that Classy Club can leverage Facebook to reach potential customers effectively.
Additionally, e-commerce platforms in Vietnam are currently experiencing the fastest growth
in the region, according to the Southeast Asia E-Commerce report published by OpenGov
Asia.

Shopee maintains its leading position with a massive revenue of 62.38 trillion VND,
accounting for 71.4% of the GMV market share. In second place is TikTok Shop with 19.24
trillion VND, equivalent to 22% market share. Apparel and accessories continue to lead in
sales across e-commerce platforms. Specifically, in the first five months of 2024, fashion sales
on e-commerce platforms reached 29 trillion VND, representing a 67% growth compared to
the same period in 2023. A total of 330 million products were successfully delivered to
consumers, marking a 77% increase.

https://style-republik.com/cuoc-chien-gianh-thi-phan-thuong-mai-dien-tu-nganh-thoi-trang-
dan-dau-ve-doanh-so-phan-khuc-gia-thap-duoc-ua-chuong/
This presents an opportunity for Classy Club to leverage digital marketing activities on e-
commerce platforms to make a mark and expand its customer base.

2.1.4. Porter Five Forces Model

Mô hình Năm Lực Lượng (Five Forces) của Porter được sử dụng để phân tích các yếu tố cạnh
tranh trong ngành thời trang cổ điển cho nam vì nó giúp đánh giá những yếu tố chính ảnh
hưởng đến khả năng sinh lời và vị thế của Classy Club trong thị trường. Mô hình này giúp xác
định mức độ cạnh tranh giữa các đối thủ, khả năng gia nhập của các đối thủ mới, quyền lực
của nhà cung cấp và khách hàng, cũng như mối đe dọa từ các sản phẩm thay thế
https://www.investopedia.com/terms/p/porter.asp.

Khi áp dụng mô hình này, Classy Club có thể hiểu rõ hơn về các yếu tố tác động đến chiến
lược cạnh tranh, từ đó đưa ra quyết định thông minh trong việc phát triển sản phẩm, xây dựng
thương hiệu và tăng cường mối quan hệ với khách hàng và nhà cung cấp. Mô hình giúp Classy
Club tối ưu hóa chiến lược, giảm thiểu rủi ro và tận dụng các cơ hội để nâng cao khả năng
cạnh tranh và tối đa hóa lợi nhuận trong ngành thời trang cổ điển. Dưới đây là phân tích cụ thể
về từng yếu tố trong mô hình.
 Figure 2.1.4: Porter Five Forces Model

(Source: Authors, 2024)

2.1.4.1. Threat of New Entrants: Moderate

While it is straightforward to launch a small business or an online brand, establishing a strong

brand presence and a robust distribution network in the traditional men’s fashion market
requires significant financial investment and time commitment. Long-standing companies
benefit from a high level of customer loyalty, which makes it challenging for new competitors
to capture market share. Additionally, established brands can leverage economies of scale in
production and distribution, making it difficult for newcomers to compete on pricing.
Although the rise of online retail has lowered certain barriers to entry by eliminating the need
for physical stores, it has also intensified competition among brands, making it harder for new
entrants to differentiate themselves in a crowded market.

2.1.4.2. Bargaining Power of Buyers: High

Consumers have a plethora of options available when purchasing fashion items, both online
and offline. The internet enhances this bargaining power by facilitating the sharing of
information about products and pricing, particularly in the current 4.0 age. This accessibility
allows buyers to easily locate the best offers, compare costs, and make informed purchasing
decisions. Additionally, the presence of fast fashion retailers like Zara and H&M, which offer
more reasonably priced alternatives, further empowers consumers. These retailers provide
options that enable buyers to switch quickly if they perceive prices as too high or as subpar,
increasing their leverage in the market.

2.1.4.3. Bargaining Power of Suppliers: Low

The traditional fashion industry has a large number of suppliers, which limits their bargaining
power as businesses have numerous alternatives to choose from. If a supplier of materials,
such as fabrics or accessories, demands exorbitant prices or imposes unfavorable terms,
companies can easily switch to other suppliers without significant disruption. Additionally, the
substitutability of materials further diminishes supplier power, as fashion enterprises can
readily transition to different fabrics and accessories that offer comparable quality at lower
prices. This abundance of options enables businesses to negotiate better terms and maintain
cost efficiency in their operations.

2.1.4.4. Threat of Substitute Products or Services: High

Fast fashion items that are fashionable and cheaply priced tend to lure budget-conscious
consumers away from conventional styles. Fast fashion has grown especially popular in the
Vietnamese market among Gen Z and Millennial customers, who prefer priced, fashionable
solutions to eco-friendly ones. Furthermore, the second-hand market has seen a rise in demand
due to the growing popularity of eco-friendly fashion. Customers looking for priced classic
pieces or one-of-a-kind things with distinctive, difficult-to-replicate features, many of which
are no longer in production, are discovering appealing substitutes in this market. The current
trend towards fast fashion and pre-owned options puts classic menswear firms in a more
competitive market, necessitating them to differentiate their goods and stay relevant.

2.1.4.5. Intensity of Competitive Rivalry: High

There are a lot of companies in the market competing for customers' attention, such as well-
known brands, up-and-coming designers, and internet merchants. Furthermore, because of the
market's limited expansion, the current competitors compete fiercely with one another for a
larger part of the market. Customary menswear labels usually set themselves apart by their
dedication to customs, excellence, and brand advancement. However, many businesses find it
difficult to stay current while maintaining their fundamental identities due to the fast-changing
nature of fashion trends. Given this competitive environment, it can seem like a good idea for
new brands to enter the classic menswear market. However, "favorable" does not equate to
"easy," as new entrants will still face significant challenges from established rivals and a
Vietnamese market that increasingly favors fast fashion.

2.2. Competition analysis

In the first three years, Classy Club will focus on building and developing a chain of stores in
Hanoi. We recognize that the market is highly competitive, with many players. To analyze and
identify competitors, we rely on 6 main criteria: Business model, Company size, Location,
Product, Price, and Promotion. Therefore, we classify competitors into two groups: direct
competitors and indirect competitors. Below are some typical competitors in the classic men's
fashion segment, selling in Hanoi, and having a similar scale to the one we are targeting.

2.2.1. Direct Competitors

Below are some key direct competitors in the classic men's fashion product segment, currently
selling online or based in Hanoi, and of a similar scale to the one we are targeting.

Polomanor B BROWN Thomas.Stu

Logo
identification
Figure 2.2.1: Polomanor’s logo. Figure 2.2.2: B BROWN’s Figure 2.2.2.3: Thomas’s
logo. logo.
(Source: Polomanor, 2024)
(Source: B BROWN, 2024) (Source: Thomas.Stu, 2024)

Products There are five product There are six product There are seven
 lines: lines: product lines:
1. Shirts (short-sleeved 1. Shirts (short-sleeved, 1. Shirts (short-
shirts, long-sleeved long-sleeved shirts) sleeved, long-sleeved)
shirts) 2. Pants (suit pants, 2. Pants (vest pants,
2. Pants (suit pants, jeans, shorts, cargo jeans, shorts, wide-leg
khaki pants, shorts, cargo pants) pants)
pants) 3. Jackets (coats, blazers, 3. Jackets
3. Jackets wool coats, denim (windbreakers, denim
4. Accessories (belts, tote jackets) jackets, leather
bags, underwear) 4. Accessories (belts, jackets, puffer
5. T-shirts (t-shirts, polo scarves) jackets)
shirts) 5. Sweaters (long- 4. Shoes (shoes,
sleeved sweaters, sandals)
Shirts, t-shirts, polo cardigans) 5. Accessories
shirts and pants are the 6. T-shirts (tank tops, (handbags, hats, belts,
four main products short-sleeved shirts, polo socks, scarves)
shirts) 6. Sweaters (long-
sleeved sweaters,
Shirts and pants are the cardigans)
two main products 7. T-shirts (tank tops,
short-sleeved shirts,
polo shirts)
Shirts and pants are
two main products

200,000 - 500,000 250,000 - 1,000,000 250,000 - 450,000

Price
VND/product VND/product VND/product

Promotion -Gifts and Discounts: - There are many - Special

Offers gifts and promotions and Promotions: Offer
discounts on special discounts for customers promotional programs
on special occasions on and big sales on
 occasions and holidays. the brand's main fanpage. holidays and special
- Offer free shipping for occasions
orders at a certain price. - Facebook Ads:
-Special promotions:
Actively runs
On special occasions,
- Facebook Ads: Runs outreach ads on
promotions include
ads on the fanpage to Facebook.
buying 1 high-value
attract traffic.
order and getting boxer
shorts + socks combo

- Facebook Ads: .
Run ads on the fanpage
regularly and the
interaction on the
Fanpage is quite good

Online Sunshine Riverside, 129E Nguyen Trai,

Place
Hanoi, Vietnam Thanh Xuan, Hanoi

Customer Customer service: Customer service: Customer service:

service & - Contact via hotline, -Contact via hotline and -Contact via hotline,
Ratings website, social network social networks. website, social
- Detailed instructions on - Flexible and safe networks
how to purchase, pay, delivery policy. - Detailed instructions
deliver, return. - Product support in case on how to purchase,
- Exchange period within of wrong size or pay, deliver and
30 days from the date of defective product return.
receipt. - Exchange products
- Free exchange for Ratings: within 72 hours from
customers purchasing at - Highly appreciated for the time of receipt
Polomanor in case of quality and service. - Free exchange for
manufacturer error, - Many attractive customers purchasing
 wrong delivery. promotions. products at Thomas in
- There have been no case of manufacturer
Ratings: negative reviews on sales error or wrong
- Highly rated for quality channels. delivery.
and service.
- Many attractive Ratings:
promotions. - Highly appreciated
- Encourage customers to for quality and
leave honest and service.
transparent reviews - Many attractive
about the product. promotions.
- Encourage
customers to leave
honest, transparent
product reviews.

Fanpage Facebook, IG Facebook, Instagram, Fanpage Facebook,

Online
TikTok, Shopee,Website. TikTok, Shopee. Instagram, TikTok,
channels
Shopee.

Advantages - Strong Marketing - Shop owners are - Return policy:

Team: has an extremely KOLs: Shop owners are Return within 15 days
powerful marketing both KOLs and models, from the date of
team, creating many convenient for product receipt if the product
successful marketing reviews and product is defective or
campaigns. photography damaged. You can
return the product in
- Great resources: Since - Return policy: Shop case you change your
its launch, the brand has supports returns in case mind while the
covered all e-commerce of sending the wrong product is still intact.
platforms, booking many size or defective goods
Kols for advertising - High recognition:
 - High recognition: The number of
- Has a large number of Number of followers on followers on social
followers: The number social networks is about networks is about 90k,
of followers is extremely 15k, number of followers the number of
large with 2.6 million on on e-commerce followers on e-
e-commerce platforms platforms is about 30k commerce platforms
and 200 thousand on is about 30k
social networks
- Product diversity:
Although selling
online, the shop has
many diverse products
and designs so
customers have many
different choices

- Good
communication
team: Neat images,
attractive short
videos, investment in
content. This will
attract more
customers when
deciding to buy the
product.

Disadvantages - No offline store: - No offline store: - There is no offline

although the brand has a Customers cannot try the store: Customers
large coverage on social product directly, lack of cannot directly try the
networks. However, not interaction with product, lack of
 having an offline store customers interaction with
will cause the loss of customers
customers who want to
- Lack of product
buy at the store, want to - Many products:
diversity: The small
try the product directly Many products lead to
number of products leads
and have a much higher inventory and high
to loyal customers
interaction than buying marketing costs for
abandoning them,
online. each product.
customers have few
choices when buying.
- Many products: The - High advertising
When the product is no
amount of product costs: High
longer hot, it can lead to
purchases is very large, advertising costs from
inventory.
but with the production placing KOLs to
of many product lines, review products,
the brand also has - Price: higher than the running cross-
product lines that sell general level, customers platform ads and

little and have large will hesitate when building a marketing

inventories choosing a product team

Table 2.2.1: Classy Club's Direct Competitors (Source: Authors, 2024)

2.2.2. Indirect Competitors

In addition to the direct competitors analyzed above, Classy Club also faces indirect
competitors, which are brands that sell products that serve as substitutes for classic men's
fashion. These include fast fashion brands, casual streetwear, and athleisure Below are three
prominent examples of indirect competitors.

PEALO De basé Silence Standard

 Logo
identification

Figure 2.2.4: PEALO’s logo. Figure 2.2.2.5: de basé’s logo Figure 2.2.2.6: Silence
Standard’s logo
(Source: PEALO, 2024) (Source: de basé, 2024)
(Source: Silence Standard,
2024)

Place HA11 SP11-94 Online Online

Vinhomes Ocean park
Gia Lam, Ha Noi,
Hanoi, Vietnam

Products There are six product There are six product There are three product
lines: lines: lines:
1. Shirts (short-sleeved 1. Shirts (long-sleeved 1. Shirts (long-sleeved
shirts, long-sleeved shirts) shirts, short-sleeved
shirts) 2. Pants (sweatpants, shirts)
2. Pants (suit pants, shorts, wide-leg pants, 2. Pants (cargo pants,
jeans, shorts, wide-leg khaki pants) shorts, khaki pants,
pants, cargo pants) 3. Jackets (khaki jacket, dress pants, jeans)
3. Jackets leather jacket, wool 3. T-shirts (short-
(windbreakers, denim bomber jacket, denim sleeved T-shirts, polo
jackets, leather jackets, jacket) shirts, sweatshirts)
puffer jackets) 4. Accessories
4. Accessories (handbags, socks, Shirts, T-shirts and
(handbags, socks, slippers, hats) pants are the three main
scarves) 5. Sweaters (turtleneck products
5. Sweaters sweaters, cardigans)
6. T-shirts (tank tops, 6. T-shirts (sweatshirts,
short-sleeved T-shirts, short-sleeved T-shirts,
 long-sleeved T-shirts, long-sleeved T-shirts)
polo shirts)
Shirts, T-shirts and pants
Shirts, T-shirts and are the three main
pants are the three main products
products

Price 200,000-500,000 300,000-850,000 250,000-500,000

VND/product VND/product VND/product

Promotion - Social media and - Active Fanpage: The E-commerce discounts

Website Advertising: fanpage frequently and gifts: Customers
Use these platforms to interacts with customers, who purchase products
promote discounts and posts promotional at Silence Standard on
giveaways during e-commerce platforms
holidays and special will receive discount
occasions. codes.

- Facebook Ads: Run

effective ads on the
Facebook fanpage to
reach customers.

Online Fanpage Facebook, Facebook,Instagram, Fanpage Facebook,

Channels Instagram, Shopee, Shopee Instagram, Shopee,
TikTok. TikTok

- High recognition: - Save fixed costs: No - Large number of

Number of followers on need to invest in followers: With the
Advantage
social networks is about premises or physical number of followers on
65k store operating costs the platforms is 160k
(such as hiring followers
 - Product diversity: employees, electricity,
Although selling and water). - Strong coverage: not
online, the shop has only Kols, Kocs who
many products, diverse have booked but also
- Return policy:
designs for customers the number of people
Customers can return
to have many different who do not receive
products if the product is
choices bookings also review
defective or missing due
the product. From
to the seller within 15
- Return policy: there, the product has
days from the date of
Return within 15 days strong coverage on
receipt
from the date of receipt social networking
if the product has any platforms
- Product diversity:
defects or faults.
Although only sold
Returns are possible in - Return policy:
online, the brand has
case of change of mind Return within 15 days
many products for
when the product is still from the date of receipt
customers to have many
intact. if the product has any
different choices
defects or faults.
Returns are possible in
case of change of mind
when the product is still
intact.

Disadvantages - No offline store: - High cost: The brand - Few products: The
Customers cannot try has a higher price than number of products is
the product directly, the segment small, so when
lack of interaction with customers want to buy,
customers - No offline store: they will have few
Because it only sells choices
- Many products: online, it loses customers
Many products lead to who buy directly at the -High advertising
 inventory, high store, and lacks customer costs: Because the
marketing costs for interaction with the brand covers products
each product. brand on social networking
platforms and e-
- High operating costs: - Advertising costs: The commerce platforms. In
Owning an offline store brand advertises its addition, booking Kols
with sales staff and products on social and Kocs to review
page managers. In networking platforms products. Therefore, the
addition, due to the and e-commerce amount of money spent
variety of products, it is platforms. In addition, it on advertising is very
necessary to book many books a lot of Kols and large
KOLs and run ads on Kocs to cover the
multiple platforms, so product. Therefore, - No offline store:
the operating sell a lot advertising costs are very Because it only sells
of one product high online, it loses
costs are very high. customers who buy
directly at the store, and
lacks customer
interaction with the
brand

Table 2.2.2: Classy Club's Indirect Competitors (Source: Authors, 2024)

2.2.3. Lesson And Practical Experiences

Through market analysis and competitor research, we have identified key lessons and practical
insights that will shape Classy Club’s strategy in the future.

First, building an effective business model depends on accurately identifying our target market
and core products. By diversifying our products, Classy Club can better serve the diverse
needs of our customers, thereby creating a flexible and market-relevant business model.
Another important lesson is always focusing on product quality, which is an important lesson
we have learned. Cooperating with reputable suppliers and ensuring the clear origin of
materials is essential to protect the health and satisfaction of customers. In addition, providing
competitive prices also reinforces the value we bring, helping to establish trust with
customers.

To effectively reach customers, Classy Club will be present on multiple distribution channels.
In addition to traditional retail stores, we will develop an e-commerce platform, making it easy
for consumers to search for and shop for products anytime, anywhere. Marketing and
advertising activities also play an essential role in our strategy. By using diverse
communication chamanels from social networks to online advertising and offline events to
enhance brand recognition, Classy Club attracts attention from both partners and potential
customers. This approach not only strengthens the brand but also builds a community of loyal
and satisfied customers.

Finally, the Classy Club is committed to sustainable development and social responsibility.
Our goal is not only profit but also positive contributions to the community. Through charity
programs, educational support, and engagement activities, we hope to build a positive and
trustworthy brand image in the hearts of customers and the community.

2.3. SWOT Analysis

STRENGTHS WEAKNESSES

Young Human Resources: Classy Club has a

Dependence on a Niche Market: The
young, passionate, and entrepreneurial
brand relies heavily on a specific customer
workforce. Additionally, the team possesses
segment—those who love classic style. As a
knowledge of the fashion market and a deep
result, reaching a broader audience can be
understanding of customer needs, allowing
more challenging.
them to devise effective marketing strategies
and easily adapt to challenges and difficulties Dependency on outsourcing
in business. manufacturers: Classy Club does not
manufacture its products in-house and relies

Efficient Supply Chain: Thanks to its on outsourcing manufacturers, which limits

advantageous location near the Ninh Hiep its ability to control supply chain stability,
fabric market, Classy Club can easily access a
costs, and delivery times.
diverse range of fabrics and work directly with
manufacturers without intermediaries. By Limited Experience in Human Resource
producing a reasonable number of products, Management: The management team’s lack
the company can reduce costs related to both of hands-on experience has led to some
production and inventory. challenges and gaps in the human resource
management process, affecting its overall

Product Diversity: In addition to office wear efficiency and effectiveness.

like dress pants and shirts, Classy Club also

creates seasonal collections. For example,
during summer, they offer Curban Shirts, linen
pants, short-sleeved shirts, and similarly,
winter collections as well. Additionally,
Classy Club produces accessories such as belts
and tote bags.

A Clear Style Direction: From the outset,

Classy Club has defined a distinct style
identity - Classic Casual, blending timeless
elegance with everyday practicality, and
Minimalism, embracing simplicity and
subtlety, with an emphasis on high-quality
materials.

Made-to-Measure Service: If customers

require custom-made products according to
their personal measurements, Classy Club
offers a made-to-measure service based on
available designs. The in-house team of
professional tailors ensures the best possible
fit and comfort for each customer.

OPPORTUNITIES THREATS

Sustainability Trend: An increasing number Risks from economic recession and

of consumers, especially younger generations, inflation: Due to inflation and difficult
are paying attention to sustainable fashion and economic conditions, consumers tend to cut
eco-friendly products. This presents an back on spending on non-essential products,
opportunity for Classy Club to create product which can impact the company's revenue.
lines made from recycled, environmentally They often prioritize essential products over
friendly materials, appealing to a customer fashion.
base that is conscious of sustainability.
Pressure from competitors: Currently, there
The rise of social media and Influencer are many online fashion brands such as
Marketing: This offers a fantastic opportunity Thomas.Stu, B Brown, Lehman Brother, etc.,
for Classy Club to promote its products and so Classy Club faces significant competition
build brand awareness by leveraging platforms in establishing its own market. To survive and
like Instagram and Facebook to create grow, Classy Club must carefully address and
engaging content and interact with customers. manage this competitive pressure.
Collaborating with famous Influencers and
KOLs helps enhance brand recognition, reach Rapidly changing trends: The fast-paced
potential customers, build trust, and encourage nature of fashion trends puts considerable
consumers to experience the products. pressure on Classy Club to keep up with
consumer preferences. This presents a
Growth of the online shopping market: As significant challenge, as the company must
the trend of online shopping becomes more constantly stay updated with the latest trends
popular and rapidly develops, it provides while maintaining its competitiveness.
Classy Club with a great opportunity to reach
and expand its customer base without needing
to invest heavily in physical stores.

Rapid development of logistics and

transportation: According to the World
Bank's ranking, Vietnam currently stands at
64th out of 160 countries in logistics
development and 4th in the ASEAN region,
after Singapore, Thailand, etc. This indicates
that Vietnam's logistics sector is growing
rapidly, allowing Classy Club to easily
distribute its products throughout Vietnam,
delivering them directly to customers.

Table 2.3.1: SWOT Analysis of Classy Club (Source: Authors, 2024)

2.4. Customer Analysis

2.4.1. Methodology

This study employs a survey method to collect primary data through questionnaires designed
to explore consumer needs and preferences regarding classic men's fashion. The survey aims
to gather information on various aspects, including the frequency of use, the amount of money
consumers are willing to spend, and their product desires.

Target Population: The survey is directed at a broad audience, particularly focusing on all
individuals, with a special emphasis on men who are interested in classic fashion.

Sample Size: A total of 336 valid respondents are anticipated to participate in the survey.

Survey Timeline: The data collection is scheduled to take place from October 1, 2024, to
October 15, 2024.

Survey Format: The survey will be conducted online using the Google Forms platform,
ensuring accessibility and convenience for participants in Appendix 1.

2.4.2. Survey Analysis

2.4.2.1. Results from online survey questionnaire
a. Demographic Segmentation
 Figure 2.7.1: Respondents’ Age Groups

(Source: Authors, 2024)

The findings indicate that 1.8% of the population is under 18, 31.8% is between 18 and 24,
61.6% is between 25 and 30, and 4.8% is beyond 30. The age group that makes up the largest
percentage of participants, those in the 25 to 30 age range, indicates a strong demand for and
interest in classic fashion. Furthermore, there appears to be a growing tendency towards
classic fashion among young people, as seen by the significant attention shown by the 18 to 24
age group. Given the circumstances, the poll suggests that adults are the main consumers of
classic fashion, which reflects their changing tastes in style and aesthetics.

Figure 2.4.2: Respondents’ Genders (Source: Authors, 2024)

According to the survey data, males comprise 84.2% and females 15.8%. This disparity
indicates that males have a significantly greater interest in this survey topic. The results also
show that the demand for classic fashion is increasing strongly within the male community,
reflecting a shift in their style and preferences.
 Figure 2.4.3: Respondents’ Occupations (Source: Authors, 2024)

Based on the results, 13.7% are students; 42.6% are office workers; 31.5% are freelancers; and
11.6% are civil servants. Additionally, there are 0.6% in other professions such as models and
freelance interpreters. This distribution shows that office workers are the largest group,
accounting for 42.6%, indicating a high demand for classic fashion in the workplace.
Freelancers also show significant interest in this fashion style. Notably, with 13.7% being
students, it is evident that the younger generation is increasingly focusing on building their
personal style through classic fashion.

In summary, the demand for classic fashion among men primarily comes from adults,
especially those working in office environments and freelancing, reflecting a trend toward
seeking elegant and refined fashion styles in everyday life.

Figure 2.4.4: Respondents’ Monthly Income (Source: Authors, 2024)

From the chart, we see that 10.7% of participants have an income of less than 5 million VND,
37.8% have an income between 5 and 10 million VND, 39.6% have an income between 10
and 20 million VND, and 11.9% have an income above 20 million VND. Many participants
have an income between 10 and 20 million VND per month, indicating that most individuals
have reasonable spending capacity for fashion needs, particularly classic fashion, while still
meeting their daily living expenses.

In conclusion, the demand for classic fashion among men has rapid growth potential,
especially in the group with an income between 10 and 20 million VND, where they have
better purchasing power for quality fashion products. This reflects a change in the aesthetic
tastes and lifestyles of mature individuals and indicates a large potential market for classic
fashion brands.

b. Behaviors

For Consumer Needs of Fashion Products

Figure 2.4.5: Respondents’ Interest in Purchasing Fashion Products (Source: Authors, 2024)

According to the survey, consumer interest when shopping for fashion products is based on six
main factors. Among them, the most highly rated factor is good, durable material, with 68.7%
of respondents agreeing, indicating that consumers pay great attention to the quality and
durability of the products. Next is the variety of styles, accounting for 65.5%, reflecting the
desire for many options in styles and designs.

Affordable pricing ranks third at 61.4%, showing that consumers are still very price-sensitive
and always seek priced products. The factor of high practicality (able to be combined with
many types of clothing) is also highly rated at 56.6%, emphasizing the desire to own products
that offer flexibility and convenience in daily life.

Although the factor of clear product origins is also of concern (40.2%), it is not rated as highly
as the aforementioned factors. Finally, beautiful design only accounts for 37%, indicating that
consumers tend to prioritize quality and practicality over the appearance of the product.

Figure 2.4.6: Respondents’ Shopping Frequency for Fashion Products (Source: Authors, 2024)

The survey indicates the shopping frequency of participants with five levels from 1 (never
buy) to 5 (very frequently buy). The results show that most participants tend to shop at a
frequency from average to very frequent. Specifically, only (0.3%) never shop, and (5.1%)
shop rarely. Meanwhile, (26.8%) shop at an average level. Notably, the number of frequent
shoppers (level 4) accounts for the highest percentage at (42.3%), and (25.6%) shop very
frequently. Most respondents have a shopping frequency for fashion items at an average to
very frequent level, with the majority concentrated at a frequent level.
 Figure 2.4.7: Reasons for Respondents' Fashion Products (Source: Authors, 2024)

The survey reflects the shopping purposes of participants for fashion products, with the
primary reason being to express personal personality and style, which accounts for the highest
percentage at (79.8%). Additionally, (57.1%) shop to keep up with fashion trends, indicating
that staying updated with new trends is also an important factor. Furthermore, (42.6%) shop to
satisfy their mood, and (39.6%) choose to buy gifts for shopping purposes. Other reasons, such
as needing more clothes to mix and match, running out of nice clothes, and seeking comfort,
only account for very small percentages of 0.3% and 0.6%, respectively. Overall, most fashion
consumers aim to express themselves and pursue trends.

Figure 2.4.8: Respondents' Preferred Channels for Fashion Products (Source: Authors, 2024)

The survey shows the shopping channels of participants, with social media (Instagram,
Facebook, etc.) being the most popular channel at (75.6%). Next is e-commerce platforms
(Shopee, Lazada, etc.) at (68.8%), indicating the growing trend of online shopping. TikTok
has also become a notable shopping channel, with (39%) choosing to shop through this
platform. In contrast, traditional stores only have (32.9%) opting for them, indicating a clear
shift from direct shopping to online platforms. Overall, most consumers today prefer to shop
for fashion through social media and e-commerce platforms.

For Customer Needs of Classic Fashion Products

 Figure 2.4.9: Respondents' Perception of Classic Fashion Products via Media Channels (Source: Authors, 2024)

From the survey data, a clear picture of the current classic fashion market emerges. Only
11.9% of participants have never heard of the products, indicating that most consumers are
aware of the products, creating opportunities for brand development. Notably, 83.6% of
participants reported knowing about classic fashion products through social media platforms.
This confirms the dominant role of social platforms in reaching customers. Next, 31% are
aware of the products through television, newspapers, and magazines, showing that this
channel still has an influence but is no longer as dominant as before. Additionally, 45.8% of
participants learned about the products through word of mouth, clearly indicating that referrals
still play a significant role in product awareness. Only 0.3% learned about them through other
information sources.

From the survey results, it is evident that social media (Facebook, Instagram, TikTok, etc.) is
the primary channel for reaching and promoting classic men’s fashion products. Moreover,
businesses should combine digital communication strategies with word-of-mouth to build a
strong customer community and increase sales in this promising market.
 Figure 2.4.10: Respondents' Usage Rate of Classic Fashion Products

(Source: Authors, 2024)

The survey results show that 78.3% of participants have used classic fashion products. This is
a high number, indicating that classic fashion is currently attracting interest and has a certain
loyal customer base. This suggests strong potential for development in the market, as those
who have used the products may become brand advocates and refer others. On the other hand,
only 21.7% of participants have never used classic fashion products.

In summary, with a high percentage of consumers having used the products, classic fashion
brands should continue to promote and enhance awareness within the community while
creating outreach campaigns to attract customers who have never experienced the products.

For customers who have previously used classic fashion

Figure 2.4.11: Respondents' Expenditure on Classic Fashion Products

(Source: Authors, 2024)

The percentage of 35.4% of consumers spending from 500,000 to 1,000,000 VND indicates a
significant group of customers starting to explore classic fashion, which may signal an
increasing interest in products in this segment. Only 6.5% of participants reported spending
under 500,000 VND, suggesting that most consumers are willing to invest more in these
products. Notably, 43% of survey participants indicated they have spent from 1,000,000 to
2,000,000 VND, demonstrating that a large number of customers are willing to invest in
classic fashion products, indicating the value and quality they seek. The rate of 13.7%
spending from 2,000,000 to 5,000,000 VND reflects a willingness to spend more on products
with special designs or premium materials. Finally, only 1.5% of participants indicated they
have spent over 5,000,000 VND, suggesting that while there are a few high-spending
customers, the majority still fall within moderate spending ranges.

In summary, with most consumers willing to spend from 1,000,000 to 2,000,000 VND on
classic fashion products, brands can leverage this to develop higher-quality product lines while
creating promotions and offers that cater to different customer segments.

Figure 2.4.12: Respondents' Satisfaction Level (Source: Authors, 2024)

The survey results regarding consumer satisfaction with classic fashion products paint a
positive picture. Only 0.4% of participants reported being "very dissatisfied," and 1.5% said
they are "dissatisfied." This low rate indicates that most consumers have a positive impression
of the products. Meanwhile, 13.7% of participants rated their satisfaction as "average,"
suggesting that some customers may not have had a strong impression of the products but do
not oppose them either. Notably, 60.5% of consumers stated that they are "satisfied,"
indicating that classic fashion products have met the expectations of a large portion of
customers. This suggests that the products are highly valued for their quality, style, or
usability. Finally, 24% of participants indicated they are "very satisfied" with the products.
This percentage shows that there is a loyal customer base that strongly supports classic fashion
and may become positive representatives of the brand.

In summary, with 84.5% of consumers rating their satisfaction as "satisfied" or above, classic
fashion brands have a strong opportunity for development and to increase customer loyalty.

Figure 2.4.13: Respondents' Reasons for Using Classic Fashion (Source: Authors, 2024)

According to the survey, the main reasons customers choose to use classic fashion products
are as follows. Leading the list is the factor of unique, timeless style, accounting for 71.1%.
Additionally, 65.8% choose classic fashion because it carries significant historical and cultural
value. The factor of high quality is also highly rated by 64.6%. Another reason is sustainability
and environmental protection, supported by 26.6%. Only 0.4% indicated they chose products
because they look nice. Overall, customer choices focus on style, historical significance, and
quality, with some concerned about the sustainability of classic fashion.
 Figure 2.4.14: Respondents' Satisfaction Points Regarding Classic Fashion Products (Source: Authors, 2024)

According to the survey, the factors contributing to customer satisfaction when using classic
fashion products are as follows. Leading the list is the factor of beautiful and flexible design,
highly rated by 74.9%. Next, 74.5% reported feeling comfortable using these products. Nearly
half of the participants, 43.7%, found it easy to mix and match with classic fashion. Finally,
39.5% are satisfied with the products' clear origins. Overall, customer satisfaction primarily
focuses on design and comfort when using, while the ability to mix and match and product
origins are also important factors.

Figure 2.4.15: Respondents' Dissatisfaction Points Regarding Classic Fashion Products (Source: Authors, 2024)

Most participants in the survey expressed their dissatisfaction with classic fashion products. A
majority, accounting for 61.2%, identified high prices as the main reason for their
dissatisfaction. Next, 59.3% have difficulty finding the right size. Nearly half of the survey
participants, 47.9%, face challenges in mixing and matching classic fashion products.
Additionally, 31.9% complained about materials that are prone to damage. Only 1.5%
indicated they faced no issues when using the products, and 0.4% (1 person) stated that some
designs do not align with current trends.

For customers who have yet to explore classic fashion

Figure 2.4.16: Respondents' Reasons for Not Using Classic Fashion Products

(Source: Authors, 2024)

The survey results regarding classic fashion products indicate that high prices are the biggest
reason (45.5%) consumers refuse to choose them. This suggests that there is a need to
reevaluate pricing strategies or develop more affordable products. Furthermore, 52.3% of
participants feel that the products do not suit their personal style, indicating that the market
needs more diverse options. About 46.6% believe the products are not practical for daily use,
while 48.9% report that sizes and styles do not meet their needs. Finally, 31.1% feel that the
designs are outdated, indicating the need for more modern and appealing designs to attract
customers. Overall, the data shows that classic fashion products still have potential in the
market, but there are challenges that need addressing.
 Figure 2.4.17: Respondents' Interest Level in Classic Fashion Products (Source: Authors, 2024)

Only 1.1% of customers show very little interest, indicating almost no enthusiasm for classic
men's fashion. About 26.1% of customers are uninterested, reflecting a low level of interest
and no priority for this style. The majority, accounting for 43.2%, have a neutral attitude,
suggesting that classic men's fashion is not a primary interest but still a viable option. A
significant number of customers (21.6%) are interested, indicating a liking for classic fashion,
and frequently choosing it. Finally, 8% of customers are very interested, showing a particular
passion for this style and a willingness to invest significantly in classic men's fashion products.
From these results, there is a certain level of customer interest in classic men's fashion,
especially in the moderate and interested categories, indicating potential for market growth.

Figure 2.4.18: Respondents' Willingness to Pay for Classic Fashion Products (Source: Authors, 2024)

The chart above illustrates the spending capacity of customers on classic men's fashion
products based on a survey with 88 participants. Most customers, accounting for 63.6%, are
willing to spend between 200,000 and 500,000 VND, indicating that this price range is the
most common and suits the needs of the majority. Seventeen percent of customers selected a
price below 200,000 VND, reflecting a group with limited budgets or those seeking cheaper
products. An equivalent proportion, 17%, are willing to spend between 500,000 and 1,000,000
VND, indicating that they may value the quality or brand of classic fashion products. Finally,
only 2.3% of customers are willing to spend over 1,000,000 VND, showing that the group
willing to invest significantly in classic fashion is very small. This result indicates that the
main market for classic men's fashion lies within the mid-price segment, with a small number
of consumers willing to spend more.

Figure 2.4.19: Respondents' Desires for Classic Fashion Products (Source: Authors, 2024)

From the survey results, it is evident that 69.3% of customers are interested in comfortable,
easy-to-wear materials, indicating that this factor is a top priority when choosing classic
fashion. Additionally, 69.3% of customers desire products that are easy to mix and match,
emphasizing the need for flexible outfits suitable for various styles. 68.2% of customers value
beautiful, versatile designs, highlighting the importance of aesthetics and diversity in design.
Furthermore, 50% of customers prioritize clear product origins, showing an interest in the
source and quality of classic fashion. A smaller percentage, 1.1%, focus on affordability, and a
few, also 1.1%, have no specific requirements. In summary, customers desire classic men's
fashion products that are not only beautiful but also comfortable, easy to coordinate, and have
clear origins. This suggests a direction for manufacturers to meet market demands.

2.4.2.2. Customer Target

Through surveys, we have developed our target customer profile as follows:

Demographics:
 ● Gender: Male

● Age: 25 to 30 years old

● Income: Over 10,000,000 - 20,000,000 VND

● Occupation: Office employees

Psychographics:

● Enjoy elegance, minimalism, and classic styles.

● Wants to present themselves neatly in front of others.

Habits:

● Dresses neatly

● Focus on investing in quality products.

● Mixes and matches to create a personal style.

Behavior:

● Frequency of purchasing fashion products: Regularly

● Places where classic fashion products are purchased: Online shopping.

Pain Points:

● The high cost makes classic style feel like an unattainable luxury.

● Hard to find products that are both high-quality, durable, and timeless.
 ● Limited size options make it challenging to achieve a perfect, classic fit.

● Lack of versatility and difficulty in styling and maintaining products.

Geography: Vietnam

2.4.3. Customer Persona

Customer Persona

Full name Nguyen Anh Tuan

Age 26 years old

Gender Male

Occupation Full-time office worker

Household income 15 million VND/month

Geographical Hanoi inner city

Customer
demographic

Image

Figure 2.4.20: Customer's image.

(This photo has been approved by the customer for use by the
project)

Online
● Customers often visit social networks such as Facebook and
Behavior
TikTok to learn about classic men's fashion.
 ● Participating in online groups and communities focused on

timeless fashion and minimalist styles.

● Regularly watch videos and read articles about fashion trends, style

tips, and sustainable clothing on trustworthy websites.

● Read reviews and feedback from other users to make informed

purchasing decisions.

● Customers frequently shop online for classic men's fashion items

through Facebook, Instagram, or e-commerce platforms.

Purchasing ● Prefer to buy multiple items when there are promotions or sales to
Behavior save costs.

● Choose brands with clear, trustworthy reputations to ensure the

quality and longevity of the products.

● Classic men's fashion products feature beautiful designs that are

easy to mix and match.

● The clothing is of high quality, made from durable materials, and

does not contain harmful substances.

Looking For ● Customers prefer products with clear origins that are highly

regarded by the fashion community.

● Prices are reasonable, along with attractive promotional offers.

● Customers seek articles, reviews, and feedback from others about

classic men's fashion products.

Influence
● Positive reviews from customers who have purchased the items
Factors
 and social media influencers.

● The products must ensure high quality and durability, with a

variety of designs and suitable sizes.

● Promotions, discounts, and customer loyalty programs.

● Prices must be reasonable, typically ranging from 200,000 to

1.000,000 VND for classic men's fashion items.

● Hope to be able to effortlessly identify and acquire high-quality

classic men's fashion things that fit their style and budget.

● Want their attire to represent their style while maintaining a

Hopes and timeless appeal, allowing them to feel confident and trendy.
Dreams
● I want to stay up to speed on the newest trends in classic men's

fashion, ensuring their wardrobe remains both trendy and timeless.

Hope to find timeless men's fashion pieces that will help them to
create a varied wardrobe that will last for years.

● Worried about the quality and durability of clothing, fearing that

the durability is low, and the quality does not match the price.

● Concerned that prices are too high compared to their budget for
Worries and
Fears classic men's fashion.

● Anxious about not finding the right size that fits them, making

customers afraid of purchasing items that are ill-fitting or

uncomfortable.

Making His
● Provide classic men's clothing that ensures style, comfort, and
Style Journey
durability.
Easy
 ● Ensure clear information about fabric origins and production

processes.

● Enhance promotional programs, discounts, and loyalty points to

save costs on purchases.

● Improve customer service by offering dedicated style consultation

and support.

● Diversify the product offerings with various styles and seasonal

designs to meet customer needs and preferences.

● Provide a style guide booklet with purchases to help men create

versatile outfits that reflect their personal style.

● Offer custom tailoring services based on available products to

ensure customers get the best-fitting and most comfortable items.

Table 2.4.1: Customer Persona (Source: Authors, 2024)

2.4.4. Customer Journey

 Figure 2.4.21: Customer Journey Map (Source: Authors, 2024)
The customer journey encompasses five key stages: Awareness, Consideration, Decision,
Service, and Loyalty.

In the Awareness stage, customers discover Classy Club through various channels, including
the official website, social media (such as Facebook page, Instagram, etc.), and referrals from
friends. Critical touchpoints in this phase consist of advertisements on Classy Club’s
Facebook and Instagram, word-of-mouth recommendations, and personal searches on social
platforms. Customer experiences during this stage tend to be positive, marked by excitement
and curiosity. The brand's objective is to broaden its reach, elevate awareness of Classy Club,
and create a buzz around classic fashion.

During the Consideration stage, customers actively seek information regarding product
materials, styles, and compare prices and quality with other classic fashion brands. A
significant focus is on reviews and feedback from customers who have previously purchased
from Classy Club. Customer experience in this phase is positive, characterized by intrigue and
enthusiasm. The brand aims to drive more traffic to Classy Club’s website and social media
channels.

The Decision stage occurs when customers make the choice to purchase classic fashion
products from Classy Club. Transactions are conducted online via Facebook and Instagram.
Customer experience at this stage is often exhilarating as they finalize their purchasing
decision. The economic goal during this phase is to boost conversion rates and revenue.

In the Service stage, customers register, place orders, process payments, and utilize their
purchased products. They can easily reach out to Classy Club through Facebook, Instagram,
email, or by ordering through e-commerce platforms. Key touch points include social media
interactions, email correspondence, and direct phone calls. Customer experiences in this stage
can turn negative if issues arise with order fulfillment or customer service, leading to
frustration. The brand's goal here is to enhance customer satisfaction, streamline the product
ordering and payment processes across social media, and continually improve the quality of
customer service.

Finally, in the Loyalty stage, customers continue to purchase classic fashion products from the
Classy Club and enthusiastically share their experiences with friends and family. They may
recommend Classy Club to their acquaintances. The focal point during this stage is the sharing
of feedback and experiences on social media. Customer experiences at this stage are typically
fulfilling and delightful. The brand's objective is to encourage positive reviews and amplify
the promotion of Classy Club products.

This program empowers Classy Club to gain deeper insights into customer touchpoints and
experiences, enabling them to enhance marketing strategies and customer service to
effectively meet the needs and expectations of classic fashion aficionados.

2.5. Value proposition

Custom Tailoring Service – A Fully Personalized Clothing Experience

Classy Club is aware that every man has a distinct physical appearance and sense of style. For
this reason, Classy Club provides a custom tailoring service that lets you alter every aspect of
your clothes to fit your exact measurements and preferences. With the help of our skilled in-
house tailors, we guarantee that every product is finished with the highest elegance and a
flawless fit that accentuates the features of your body.
Clients can select from a variety of available designs and then modify them to fit their
requirements and personal style preferences. Our custom tailoring service provides a fully
customized fashion experience in addition to assisting clients in achieving a flawless fit for
traditional clothing.
Style Guide Notebook – Your Fashion Secret

With the slogan "We don't just sell clothes; we sell style," purchasing from Classy Club
includes a free style guide notebook that is intended to make it simple for clients to mix
traditional pieces with contemporary flair. This notebook is a friend that can help you come up
with stylish looks for any occasion by offering advice and inspiring ideas. The notebook
makes it simple to incorporate traditional fashion into your daily life with its thorough ideas
on clothing combinations, color harmonization, and accessory choices for specific events.
You'll always feel confident in any circumstance, whether you're dressing for a formal evening
out or a casual daytime outfit. The notebook offers you advice on appropriate attire as well as
a deeper grasp of your own style and how to convey it via clothes.

Every shopping experience at the Classy Club is more than just a chance to pick new clothes;
it's also an opportunity to explore and express your own sense of style and improve your
ability to style clothes in a polished manner.

2.6. Competitive Advantages

● Distinctive and Continuously Evolving Designs:

Classy Club is committed to creating products with elegant, timeless designs that seamlessly
blend classic and modern elements. The design team continually innovates and stays updated
with the latest trends, offering customers classic men's fashion pieces that not only fulfill
aesthetic desires but also showcase style and creativity. This ongoing innovation allows Classy
Club to establish a unique identity and maintain its competitive edge in the market.

● Founder’s Expertise and Experience in Fashion:

Classy Club is led by a founder who possesses deep knowledge and extensive experience in
the fashion industry. With a solid foundation in classic men’s fashion design and style, the
founder provides strategic direction and insight that align with market trends, ensuring that the
products consistently meet the refined tastes and expectations of customers.

CHAPTER 3: KEY ACTIVITIES PLAN

2.1.Company Structure and Human Resource Orientation
 2.1.1. Company Structure

Classy Club has adopted a functional organizational structure to streamline its operations.
With a focus on disciplined management and clear organization, each department is
empowered to achieve its goals efficiently while driving continuous improvement and
innovation. After three months of trial sales, Classy Club plans to open its first flagship store
in Hanoi in January 2025.

Figure 3.1.3.1: Company Structure 2025

(Source: Authors, 2024)

Functions and Specific Responsibilities of Departments at Classy Club:

The Production Department is the backbone of Classy Club's operations, ensuring every
product reflects the brand's commitment to quality and timeless craftsmanship. It oversees
product design, production processes, and inventory management to align with the company’s
sustainable mission. Key roles include the Chief Production Officer (CPO), Product Designer,
and Warehouse Staff. In the initial stages, the CPO directly manages product design and
warehouse operations, ensuring streamlined processes and uncompromising quality.

Active since the beginning, the Marketing & Sales Department drives brand awareness and
revenue growth through online channels. Combining creative content, digital marketing, and
sales strategies, this department ensures a seamless customer journey from discovery to
purchase. Key roles include the Chief Sales & Marketing Officer (CSMO), Content Creative
Staff, Online Salesperson, and Digital Marketing Staff. In the early stages, CSMO leads both
marketing campaigns and sales operations, ensuring a consistent and impactful brand
presence.

The Financial Department lays the foundation for Classy Club’s long-term stability by
managing budgeting, accounting, and financial planning. It ensures that every department
operates efficiently within allocated resources while maintaining the company’s overall
financial health. This department is led by the accountant, who manages all financial
transactions, from payroll to expense tracking, to support sustainable growth.

The Administration & Human Resources Department is responsible for cultivating a

productive and professional work environment. Its functions include recruitment, training,
payroll, employee benefits, event organization, and managing administrative tasks. The key
position, HR cum Admin Staff, ensures smooth operations across these areas. This department
plays a pivotal role in maintaining team morale and fostering a cohesive workplace culture.

The Store will manage all in-store operations, creating a seamless and premium shopping
experience for customers. It will introduce new roles, such as Store Management and
Shopkeeper, who will focus on customer service, inventory control, and aligning the store's
operations with the brand’s core values. While not currently active, this department marks a
major milestone in Classy Club's expansion.

Department Job Title Job Description

Management CEO - Overall responsibility for the operations and

success of the entire business
- Strategic direction
- Operations management
- Represent the company
- Oversee operations and manage the business unit
 - Directly responsible for managing and operating
the company's business activities
- Supervising the operations and managing the
CPO Production department.
- Process improvement
- Project management
- Reporting to the CEO

- Develop and execute sales and marketing strategies

across Facebook, Instagram, and future platforms
like TikTok and e-commerce.
- Manage and optimize social media and online sales
channels.
- Plan and run digital ad campaigns and create
engaging content.
CSMO - Analyze performance metrics to refine strategies
and maximize ROI.
- Expand reach through influencer marketing and
customer engagement.
- Lead and develop the sales and marketing team for
platform growth.
- Build customer loyalty with personalized
promotions and retention programs.

- Research trends and customers to develop design

ideas.
- Sketch, select colors, materials for products.
Production Product
- Create technical drawings and coordinate to
Department Designer
produce standard prototypes.
- Monitor the design process from concept to
finished product.
- Ensure products meet budget, time and standards.
 - Coordinate with marketing, sales and
manufacturing to ensure products are aligned with
brand strategy.
- Contribute to brainstorming and product evaluation
to improve product lines.

- Receive, inspect, and store products from garment

factories, ensuring quality standards are met.
- Manage and track inventory, maintaining accurate
records of goods.
- Prepare and pack goods for delivery to the online
sales department.
- Conduct quality control checks during goods
Warehouse
receipt to ensure compliance with specifications.
- Maintain warehouse cleanliness and organization
for a safe and efficient working environment.
- Support the CPO in planning and coordinating the
receipt and storage of goods.
- Monitor stock levels and report discrepancies or
quality issues promptly.

Store Store - Oversee daily store operations and ensure excellent

management customer service.
- Develop sales strategies and maintain the brand's
classic identity.
- Manage inventory to ensure product availability
and quality.
- Recruit, train, and supervise staff to meet service
and product knowledge standards.
- Handle customer feedback and improve the
shopping experience.
- Analyze sales data and coordinate in-store
 promotions and events.

- Greet customers and provide styling advice on

classic men's fashion.
- Maintain elegant displays and ensure store
cleanliness.
- Assist with product selection and personalized
Shopkeeper recommendations.
- Manage sales transactions and monitor inventory
needs.
- Support in-store events and promotions.
- Uphold the brand's sophistication and quality
standards.

- Manage and operate Classy Club's social media

channels, especially Facebook and Instagram.
- Analyze the effectiveness of social media content
marketing campaigns and adjust strategies based on
data.
- Create and design visual content (e.g., images,
Content
graphics) for online platforms to support marketing
creative staff
activities.
Sales and Marketing - Optimize visual content for SEO and user
Department experience on social media and other digital
channels.
- Ensure all designs align with brand guidelines and
maintain consistency across channels.

Digital - Plan and execute online advertising campaigns on

Marketing Facebook Ads and Instagram Ads.
Staff Monitor and analyze the effectiveness of advertising
campaigns, adjust to improve efficiency.
 - Optimize content on social media channels to
attract and retain customers.
Analyze customer data to optimize communication
and marketing strategies

- Provide advice and support to customers via chat,

email or phone during online shopping.
- Resolve customer issues and complaints related to
products or services.
- Provide information about products, return and
Online
delivery policies to customers.
salesperson
- Participate in marketing campaigns to increase
sales and promote products.
- Record customer feedback and report to the
Marketing department to improve services and
products.

- Check and monitor the financial activities of the

Finance -
company.
Accounting Accountant
- Detect and prevent financial violations.
Department
- Report internal control issues.

- Receive, classify, store, and manage company

records and documents systematically.
- Prepare and maintain books, reports, and
Administration - HR cum administrative documents in compliance with
Human Resources ADMIN company policies.
Department STAFF - Enter and update employee and administrative data
in the management system accurately.
- Handle printing, copying, and distribution of
documents as required.
- Develop recruitment plans based on departmental
 needs and company objectives.
- Post job vacancies on appropriate channels and
manage recruitment campaigns.
- Receive applications, coordinate interviews, and
assist in evaluating candidates.
- Manage office supplies inventory, ensuring
sufficient stock for daily operations.
- Support general administrative tasks and maintain
an organized working environment.

Table 3.1.1: Positions at Classy Club (Source: Authors, 2024)

 2.1.2. Human Resource Orientation

Human resources are one of the most critical factors for any organization, business, or social
entity. They are not only the greatest asset but also the key driver behind the success and
growth of every organization. Understanding this, we always prioritize human resource
management during the startup phase of our company.

2.1.2.1. Human Resources Strategy

At Classy Club, we believe that our people are the most asset of the company. Our HR
strategy is designed to attract, recruit, train, and retain talented, motivated, and passionate
individuals who share our vision for classic menswear. We are committed to fostering a
professional, dynamic, and innovative working environment where employees are respected,
valued, and provided with ample opportunities for career growth.

Developing an Effective Recruitment Process: Classy Club will establish a streamlined and
effective recruitment process to identify and hire the best candidates for each role, ensuring a
strong fit with our company culture and goals.

Investing in Training and Development: We will invest in comprehensive training and

development programs to empower employees with the skills and knowledge they need to
excel in their roles and grow within the company.

Implementing a Competitive Compensation and Benefits Program: Classy Club will offer
a competitive compensation and benefits package to attract top talent and ensure employee
satisfaction and long-term commitment.

Creating a Professional and Collaborative Work Environment: Our goal is to create a

professional, dynamic, and collaborative workplace where employees feel inspired, valued,
and motivated to contribute to the company’s success.

Leveraging Advanced Technology and HR Management Practices: We will apply cutting-

edge technology and modern HR management methods to enhance the efficiency and
effectiveness of our HR operations, ensuring seamless experience for employees and
management alike.
 2.1.2.2. Human Resources Plan for Five Years

The overall objective of Classy Club's five-year HR plan is to increase the HR department's
efficacy and support the company's growth over the following five years. The strategy lays out
tactics for each of the following areas to accomplish this goal: legal compliance, professional
workplace development, efficient human resource management, and human resource
development.

working
Position 2025 2026 2027 2028 2029
hour
CEO Fulltime 1 1 1 1 1
CPO Fulltime 1 1 1 1 1
CSMO Fulltime 1 1 1 1 1
Store manager Fulltime 1 1 1 1 1
Warehouse staff Fulltime 1 2 3 3 4
Content creative staff Fulltime 1 1 1 2 2
Product designer Fulltime 1 1 1 2 2
Digital marketing saff Fulltime 1 1 2 2 3
Accountant Fulltime 1 1 1 1 1
Online salesperson Parttime 2 2 3 3 4
Fulltime 1 1 1 1 1
Shopkeeper
Parttime 2 2 2 3 4
Hr and Administrative
Fulltime 1 1 1 1 1
Staff
Total 15 16 19 22 26
Table 3.1.2: Human Resources Plan for Five Years (Source: Authors, 2024)

In the first year, Classy Club will face financial and resource constraints. Therefore, the
company will maximize its existing human resources by having one employee take on
multiple roles.

2.1.2.3. HR Policy
a. Recruitment Policy

Classy Club prioritizes attracting, training, and developing talent in the field of classic
menswear, with a human-centered approach. We have a strict recruitment process applied to
all positions, from management to staff, ensuring fairness and transparency across all
recruitment channels. Our human resources policies, especially recruitment, always aim to
provide the best working conditions and benefits for employees.

Recruitment Plan: Annually, Classy Club develops a specific recruitment plan based on job
requirements, operational plans, and the company’s short-term and long-term goals.

Job Postings: Job vacancies at Classy Club will be posted first on the company’s website,
along with other online platforms such as Facebook, LinkedIn, Vietnamworks, and TopCV.

Recruitment Principles: Classy Club is committed to ensuring fairness, equality, and non-
discrimination for all qualified candidates.

Recruitment Requirements: Detailed information about application requirements and criteria

will be specifically announced on the Classy Club website.

Recruitment Process: Candidates will submit applications via email to the HR department.
Afterward, candidates will be invited for an interview. The HR department will notify
candidates of the results after receiving the summary report of the recruitment process.

The specifics of the recruitment process are shown in the following diagram:

Figure 3.1.3.3: Recruitment Process

(Source: Authors, 2024)

Step 1: Identifying The Hiring Requirements

Before starting the recruitment process, Classy Club will identify the hiring requirements for
each position based on the job needs and the brand's development strategy. Factors such as
professional skills, work experience, and communication abilities will be carefully considered.
This step is crucial to ensure that Classy Club attracts candidates who meet the company's
criteria.

Step 2: Creating JD

Classy Club will create detailed Job Descriptions for each position, outlining the
responsibilities, required skills, and job criteria. The JD will be posted on the brand’s social
media channels such as Facebook, TikTok, Instagram, as well as on online recruitment
platforms like LinkedIn, Vietnamworks, and TopCV, to ensure easy access for candidates.

Step 3: Submit CV
Interested candidates can submit their application (CV, cover letter, and related documents)
via email to: ClassyClub2024@gmail.com.
Step 4: Testing
Candidates who meet the requirements will be tested and interviewed by phone to confirm
whether they can attend an in-person interview at the office.
Step 5: Interviews
Qualified candidates will be interviewed in person by the HR department to assess their
experience, knowledge of classic fashion, and cultural fit with the company. HR will also
evaluate their ability to handle situations in a retail environment to ensure work effectiveness.
Step 6: Evaluation
After the interview, the HR department will evaluate all candidates based on the established
criteria. This assessment will be based on the interview results, test scores (if any), and the
candidate’s fit with the job requirements.
Step 7: Final Decision

Upon completing the evaluation process, the HR department will make the final decision
regarding the candidate’s recruitment. Selected candidates will be notified of the training and
probation schedule. During the probation period, which lasts one month, the minimum
probation salary the employee will receive is 85% of the official salary. If the candidate
successfully completes the probation period, a formal contract will be signed, and the
recruitment process will be concluded.

b. Training and development policy

Training Objectives: At Classy Club, the company is committed to providing employees

with opportunities to develop their professional skills and stay up-to-date with the latest
knowledge through annual training plans aligned with the strategy for developing the classic
menswear brand. The training policy at Classy Club focuses on enhancing understanding of
sustainable fashion, classic and minimalist styles, helping the team grasp the spirit of the
brand. As a result, employees can provide professional, consistent service and deliver the best
customer experience, whether working in-store or online. Classy Club also encourages each
employee to explore and develop their personal style, creating their own identity and
contributing to the clear expression of the brand's spirit in every aspect of their work.

Training Methods Applied:

New Employee Training: All new employees, whether working in-store or online, will
undergo a basic training program lasting 1 week. During this time, employees will be trained
in communication skills, how to use the sales and inventory management systems, and an
understanding of the company's policies, procedures, and work regulations. After training,
they will be assigned to departments or stores to familiarize themselves with colleagues and
clearly understand their rights and responsibilities.

Probation Period: Each new employee will go through a one-month probation period before
becoming a permanent staff member. During this period, they will be trained in technical skills
and knowledge, performing their duties under the supervision and support of their department
head or store manager. After the probation period, the department head or store manager will
evaluate the employee's performance. Employees will receive 85% of their salary during the
probation period. If they decide to resign during this time, the company will pay their salary
based on the actual working days.

Leadership Training: Classy Club allocates significant resources to develop leadership skills
for outstanding managers and employees with potential. Courses on management, planning,
and organizing work will be provided to enhance their leadership capabilities, suitable for both
in-store and online environments.

Soft Skills Training: Classy Club places particular emphasis on training soft skills such as
communication and negotiation, helping employees become more confident and successful in
their roles. After completing the training programs, employees will receive support to apply
the knowledge gained to real-life situations, whether in-store or in an online sales
environment, and will be assessed for career development and promotion opportunities.

Figure 3.1.3.4: Classy Club’s personnel training process (Source: Authors, 2024)

c. Employee Evaluation Policy After Probation Period

Objective: This policy aims to evaluate the performance of new employees at Classy Club
after their probation period, to determine whether they meet the company's requirements to
become a permanent staff member.

Evaluation Period: The evaluation will take place at the end of the probation period, typically
one month after the employee's start date.

Evaluation Method: The evaluation will be based on multiple factors, including job
performance, ability to integrate and adapt to the work environment, and professional ethics
standards.

Evaluation Process:

● The direct manager will conduct the performance evaluation of the employee.

● The evaluation will be based on pre-established criteria.

 ● Employees will also be encouraged to conduct a self-assessment and provide feedback

along with suggestions for improvement.

Results and Decision: Based on the evaluation results, the management team will make a
clear and fair decision regarding whether to continue the employment contract, offer a
permanent employment contract, or terminate the contract at Classy Club

d. Career Development Policy

Objective: Classy Club's employee development policy aims to build a highly skilled and
professional team to meet the company's growth needs, while also helping employees develop
personally and achieve their career goals.

Classy Club focuses on creating personalized career development paths for each employee,
tailored to their job requirements and career aspirations. The company offers a variety of
training programs to enhance both technical and soft skills, including:

● Orientation Training Program: Provides an overview of the company, corporate

culture, policies, and work processes for new employees, helping them quickly
integrate into the workplace.
● Specialized Training Program: Develops in-depth training programs for each
department and job position, helping employees enhance their professional skills and
knowledge.
● Soft Skills Training Program: Organizes courses on essential soft skills for
employees at all levels, such as communication skills, leadership skills, teamwork, and
time management.
● Personal Development Support Program: Helps employees identify their individual
development paths, allowing them to participate in external courses and seminars to
broaden their knowledge and pursue relevant professional certifications.

Employee development effectiveness will be assessed annually based on specific criteria for
each job position. The evaluation results will serve as the basis for creating training plans,
personal development, as well as making decisions regarding rewards, discipline, and
promotions.
e. Salary and benefits policy

To fully unlock the potential of employees and fulfill the company's vision, establishing a
clear salary structure is essential.

The salary structure at Classy Club is as follows:

Monthly Salary (L) = Position Salary (Lcd) + KPI Bonus (Lhq) + Allowances

Lcd = Lo x Hcd x (Ttt + Tntt)/Tqd

Lhq = Mhq * Kkpi

Definitions:

● L: Total salary received by the employee

● Lo: Basic salary = value of the basic salary coefficient
● Lcd: Position or title salary
● Lhq: KPI bonus based on performance evaluation.
● Hcd: Position salary coefficient
● Ttt: Actual working days
● Tntt: Public holidays, leave, and statutory holidays.
● Tqd: Regulated working days
● Mhq: Performance bonus coefficient = bonus percentage rate
● Kkpi: Total performance compared to the plan or job efficiency (based on revenue or
profit reported by the Finance Department)

Note: For some positions, such as the Executive Board or Management, working hours
are flexible and are calculated based on the total hours worked according to regulations.

Classy Club will implement an annual salary increase of 6% for employees who have been
with the company for over one year.
The minimum wage for this salary structure is based on the regional minimum wage, as set by
the State, and adjusted annually in accordance with government regulations. The new salary
scale will take effect on January 1, 2025. Classy Club is in region one, where the minimum
salary is VND 4,960,000 per month.

The company’s salary structure is designed around pay levels determined by job titles and KPI
performance, with distinct salary scales for the executive team, full-time employees, and part-
time staff. Details are provided in Appendix 2.

Employee Benefits at Classy Club prioritize the rights, welfare, and overall satisfaction of all
employees:

● Working Hours and Rest Periods: Employees work standard office hours, with breaks,
including a one-hour lunch break and four paid leave each month.
● Insurance Policy: The company ensures all eligible employees are enrolled in
comprehensive insurance programs as per the Labor Code of Vietnam. The coverage
includes Health Insurance, Unemployment Insurance, and Social Insurance (for
employees with contracts and who have worked for over six months).
● Leave Policy: Employees are entitled to twenty-seven paid leave days per year,
including 12 regular leave days, 12 public holidays, and 3 additional days off.
● Other Benefits: Classy Club offers travel allowances, birthday gifts, holiday gifts, and
organizes company team-building events to enhance employee engagement and
morale.

f. General Policies

Work Hours Policy:

The official working hours for full-time employees are from 9:00 AM to 6:00 PM, Monday
through Friday. In addition, the company hires part-time staff with flexible shifts. Online sales
representatives are assigned to three shifts, each lasting 6 hours, from 6:00 AM to 12:00 AM,
while store staff work in three 3-hour shifts, from 9:00 AM to 10:00 PM.

● Employees are entitled to a one-hour lunch break each day.

 ● Employees may arrive up to 30 minutes late or leave up to 30 minutes early for a valid

reason, provided prior notice is given to their immediate supervisor.

● Overtime work may be required upon the supervisor's request, with prior agreement on

overtime pay arrangements.

Dress Code Policy:

● Employees must wear attire that is professional and appropriate for the workplace

environment.

● Wearing overly revealing or culturally inappropriate clothing is prohibited.

Cleanliness Policy:

● Each employee is responsible for maintaining cleanliness in their designated work

area.

● Littering and improper waste disposal are not allowed.

● Smoking is prohibited within office premises.

Workplace Safety Policy:

● Employees must adhere to all workplace safety regulations.

● Unauthorized use of electronic devices and machinery is forbidden.

● Bringing hazardous items into the office is prohibited.

Company Property Usage Policy:

● Employees are expected to use company property efficiently and responsibly.

 ● Using company property for personal purposes is not allowed.

● Removing company property from the premises without direct supervisor approval is

prohibited.

Information Security Policy:

● Employees are responsible for safeguarding the company’s confidential information.

● Disclosing the company’s sensitive information to external parties without supervisor

approval is prohibited.

● Using company computers for personal purposes without prior authorization is not

allowed.

Disciplinary Policy:

● Employees who violate the company’s rules and regulations will face disciplinary

action as outlined in the company’s policies.

2.1.2.4. Overview of workflow

Work time
Position Number of
Work shifts Note
working hour
CEO 8 9 AM - 6 PM Flexible
CPO 8 9 AM - 6 PM Hours In case
of meetings
CSMO 8 9 AM - 6 PM
and
Warehouse staff 8 9 AM - 6 PM emergency
Shift 1: 6 AM - 12 PM
Online salesperson 6 Shift 2: 12 PM - 6 PM
Shift 3: 6 PM - 12 AM
Accountant 8 9 AM - 6 PM
Product Designer 8 9 AM - 6 PM
Content creative staff 8 9 AM - 6 PM
Digital Marketing staff 8 9 AM - 6 PM
Hr and Administrative 8 9 AM - 6 PM
 8 9 AM - 6 PM
Shopkeeper Shift 1: 9 AM - 1 PM
4 Shift 2: 2 PM - 6 PM
Shift 3: 6 PM - 10 PM
Store manager 8 9 AM - 6 PM

Table 3.1.4: Classy Club's Workflow (Source: Authors, 2024)

2.2.Key Resources
2.2.1. Financial Resources

To ensure the smooth and sustainable operation of Classy Club, financial resources are
paramount. The total initial investment for Classy Club amounts to approximately
1,000,000,000 VND, which will be allocated as follows:

● Developing the online platform and e-commerce site

● Acquiring essential equipment (computers, management software, digital marketing

tools, etc.)

● Initial marketing expenses to build brand awareness and attract customers

● A reserve for unforeseen costs and system optimization

In addition, a reserve fund of 200,000,000 VND has been set aside to maintain financial
flexibility in the face of unexpected situations. This fund will ensure the company can
continue operations seamlessly, particularly in cases of emergencies or unplanned expenses. It
will also cover transportation and travel costs for various departments, ensuring that all
activities proceed without disruption.

Strategically managing and deploying these financial resources will not only help Classy Club
navigate its initial challenges but also lay a solid foundation for sustainable growth and long-
term success.

2.2.2. Human Resources

As a company specializing in providing classic clothing, human resources play a crucial role
in ensuring the efficient operation of Classy Club. To ensure smooth and effective operations,
we plan to have 13 full-time employees and 2 part-time employees. Among them, there will be
4 people in the leadership team, 9 full-time employees, and 2 part-time employees. These
employees will be aged between 18 and 25. This age group is dynamic, quick to learn, and
perfectly aligned with the spirit of Classy Club.

2.2.2.1. Management team

The management team in the classic men's fashion project plays a crucial role in leading
strategies, managing the team, and ensuring that all activities align with the brand's long-term
goals. They must have a deep understanding of classic fashion, excellent communication and
negotiation skills, as well as strong analytical abilities to make informed decisions.
Additionally, the manager needs to foster creativity within the team, ensuring sustainable
growth and the overall success of the project.

2.2.2.2. Employees who work directly with customers

Classy Club hires employees based on criteria that align with the spirit and vision of the brand.
Classy Club aims to provide customers with the best products and experiences, so employees
who directly interact with customers play a crucial role in building relationships with them and
conveying the brand's values. Customer service representatives serve as the main point of
contact, ensuring that all inquiries are addressed and providing support throughout the
shopping journey, from product selection to post-purchase procedures. They need to have a
deep understanding of the products, knowledge of classic fashion, and maintain
professionalism in their communication with customers. These employees not only ensure
customer satisfaction but also contribute significantly to the development of the brand image
and recognition within the classic fashion industry.

2.2.3. Physical Resources

The classic men's fashion store Classy Club is equipped with modern facilities and a classic
interior design, aiming to provide customers with an experience of elegance and luxury. In
addition, Classy Club has also set up two fitting rooms to ensure customers can shop without
having to wait.

Classy Club's warehouse has a dedicated storage system with controlled temperature and
humidity to protect products from light damage. The warehouse is organized with shelves,
racks, and specialized packaging to ensure the items are well-preserved. Adjacent to it is a
designated packing area to guarantee that every order is carefully prepared and delivered
perfectly to customers. In addition, the warehouse also has a dedicated area for designers, fully
equipped with machinery, mannequins, and tools for creating sample products. This space
serves as a creative hub, inspiring designers to develop new products and collections for the
brand.

Finally, the Classy Club office is divided into two rooms. One room is for the CEO to work,
meet with important partners, and monitor the brand's activities. The second room is the office
for employees, featuring a meeting table for planning sessions and modern equipment for staff
to use.

2.3. Key Activities

2.3.1. Production Management

Figure 3.3.1: Production Process (Source: Authors, 2024)

Classy Club's production management ensures the quality and efficiency of classic men's
clothing. The company follows a meticulously structured five-step process, from design and
sample development to packaging and delivery, maintaining the highest standards of quality
while ensuring customer satisfaction with every product:
Step 1: Design and Sample Development

The process begins with conceptualizing ideas inspired by fashion trends or specific customer
requirements. Detailed sketches or 3D models are meticulously crafted by the professional
design team. They collaborate closely with other departments to finalize the design, define
technical specifications, and determine the required materials.

Once the design is complete, it is sent to the production unit to create a prototype. The
prototype is crafted with high precision, accurately reflecting the original concept and meeting
quality standards. Materials are carefully selected to align with Classy Club's brand identity.

Step 2: Evaluation and Refinement

After the prototype is completed, it is returned to the Classy Club design team or presented to
customers for review. This critical stage ensures every detail is thoroughly inspected, meeting
stringent standards for quality, functionality, and aesthetics.

The review process involves comprehensive checks on appearance, functionality, durability,

and the overall finish of the sample. Any errors or necessary adjustments are documented, and
the prototype is refined until it fully meets the requirements.

Once the final prototype is approved, the design is officially greenlit for mass production.

Step 3: Outsourcing Production

Once the sample is approved, the production department begins manufacturing the required
quantity of products, ensuring that each item embodies the premium quality and distinctive
style of Classy Club.

3.1 tiêu chí lựa chọn

3.2 gửi thiết kế

3.3 refine và sản xuất hàng loạt

Quality control (QC) measures are meticulously applied at every stage of production—from
fabric selection, pattern cutting, and sewing to the final touches. Each step is carefully
monitored to maintain consistency and precision, minimizing errors throughout the process.
Classy Club opts for outsourcing rather than in-house production due to the strategic
advantages it provides, including cost reduction, optimized resource management, and risk
mitigation. Outsourcing allows Classy Club to reduce operational costs, minimize the risks of
managing infrastructure, and focus on core activities like research and development,
marketing, and brand building. By partnering with professional manufacturers, we not only
ensure superior product quality but also enhance the brand's reputation. The flexibility in
production scale enables Classy Club to meet market demands without heavy investments in
infrastructure.

Classy Club lựa chọn đối tác outsourcing dựa trên các tiêu chí cụ thể để đảm bảo chất lượng
và hiệu quả hợp tác. Đầu tiên, các đối tác được ưu tiên nếu đã được người quen hoặc đối tác
đáng tin cậy giới thiệu, vì sự giới thiệu này chứng tỏ uy tín và chất lượng công việc thực tế.
Tiếp theo, chất lượng sản phẩm là yếu tố quan trọng, và đối tác cần cam kết sản phẩm đạt tiêu
chuẩn cao về độ bền và thẩm mỹ. Ngoài ra, sự đa dạng trong các dịch vụ sản xuất cũng được
xem xét, nhằm đảm bảo khả năng đáp ứng linh hoạt các nhu cầu từ sản xuất hàng loạt đến các
đơn hàng với số lượng nhỏ khoảng 50 cái.

To effectively manage risks, Classy Club partners only with trusted suppliers and enters into
contracts that safeguard product sample confidentiality for a minimum of two years. In the
event of a breach, the violating party will be required to compensate Classy Club up to 200%
of production and design costs. Furthermore, we conduct regular audits to promptly detect any
violations and protect our long-term interests by securing intellectual property rights for our
products.

Step 4: Receiving and Final Quality Inspection

Upon production completion, the finished products are shipped to Classy Club's warehouse for
the final quality inspection. The quality control team conducts a thorough evaluation of each
item, comparing it with the approved prototype and established quality criteria.

Key aspects such as stitching, material, fitness, and comfort are carefully inspected to ensure
the products meet not only quality standards but also the brand's distinctive fashion style. Only
flawless products are accepted into inventory or distributed to customers, ensuring satisfaction
and style for every customer.
Step 5: Packaging and Distribution

Once the products pass the final quality inspection, they move to the packaging stage. Classy
Club places great emphasis on premium packaging that not only protects the items during
transit but also reflects the brand’s high-end identity.

Each product is carefully folded, packed into branded bags and boxes, accompanied by tags,
thank-you notes, vouchers, and protective covers. Finally, the products are entrusted to reliable
shipping partners for delivery. Classy Club ensures timely delivery, with each product
reaching the customer in pristine condition, showcasing the brand's professionalism and
dedication.

2.3.2. Warehouse and Inventory Management

Classy Club has rented a separate warehouse to optimize the storage process for its men's
classic fashion products. Since Classy Club outsources production, the warehouse only stores
finished products, ready for shipment. These products are directly transferred from the
warehouse to customers, ensuring consistent quality and reliable service across all sales
channels.

● Warehouse Structure and Logistics Processes: Classy Club’s warehouse is built for

simplicity, efficiency, and precision. Products are systematically organized on

specialized shelving systems, categorized by type, size, and style for easy access and
retrieval. Incoming shipments are subjected to stringent quality checks before being
neatly arranged to ensure a well-ordered inventory. Real-time inventory management
software enhances operational efficiency by tracking stock levels accurately,
preventing overstocking or shortages, and reducing storage costs. This seamless
integration of logistics and technology ensures swift and accurate order fulfillment,
minimizing delays and elevating customer satisfaction.

● Storage of Goods: Preserving product quality is at the heart of Classy Club’s

operations. The warehouse environment is kept clean, dry, and temperature-controlled

to prevent fabric deterioration and maintain product integrity. Formal trousers are
stored in protective garment covers to avoid creasing, while shorts are folded neatly
 and arranged on clearly labeled shelves for convenience. Shirts are carefully hung or
folded into durable boxes to retain their shape and texture. Tank tops are stacked flat in
bins or drawers, sorted by size and color, making them easy to locate. Belts are rolled
and placed in labeled compartments or hung on hooks to prevent deformation and
allow for quick retrieval. This meticulous approach, combined with real-time inventory
monitoring, ensures products remain in pristine condition and are always available to
meet customer demands.

By combining thoughtful organization, advanced inventory management, and a focus on

quality preservation, Classy Club’s warehouse operations exemplify efficiency and excellence,
ensuring every product reaches customers in impeccable condition.

2.1.1. Operations Management

Operational management plays a crucial role in ensuring optimal performance at Classy Club
by enabling smooth and efficient processes across production, sales, and supply chains while
swiftly addressing any arising issues.

2.3.2.1. Human Resource Management

Classy Club focuses on building a skilled, cohesive workforce aligned with the brand's vision
of classic men's fashion.

The company emphasizes not only recruitment and training but also fostering a professional
and creative work environment. Employees are selected based on criteria that align with
Classy Club's culture and style. After boarding, they participate in training programs to
enhance their skills, covering areas such as knowledge of classic fashion, sales techniques,
customer service, and order management.

Additionally, the company regularly evaluates employee performance to allocate tasks

effectively and provides career development guidance. Internal workshops are organized to
improve skills and deepen employees' understanding of the brand's values and style, enhancing
their ability to advise and serve customers.
Creating reward programs and fair, transparent compensation policies is also a key aspect of
the human resource strategy. This not only motivates employees to excel but also fosters long-
term commitment to the company.

2.3.2.2. Asset and Facility Management

Classy Club aims to manage its assets and facilities effectively, optimizing their use to support
seamless production, business operations, and multichannel sales.

● Physical Store Management:

Classy Club conducts regular maintenance and upgrades to the store's display areas, ensuring
they leave a strong impression of classic fashion style from the customer's first visit. The store
layout is carefully designed to convey the brand's message, from product arrangement to
lighting and decorative elements.

● Online Sales Management:

The brand implements smart inventory management strategies across platforms like Facebook,
Instagram, TikTok Shop, and Shopee. This ensures synchronized data across channels,
preventing stock outs or overstocking.

Partnering with reliable shipping companies is also prioritized to guarantee fast, secure
delivery that meets customer expectations.

2.3.2.3. Cost and Budget Management

Classy Club begins by setting budgets for specific categories, such as product development,
outsourcing production, social media advertising, store operations, and logistics. These
budgets are based on historical activity data and include contingency plans to ensure readiness
for unexpected situations.

Relevant departments closely monitor actual expenses versus planned budgets, providing
regular reports and adjustments as needed. This approach helps avoid waste and ensures
business initiatives, like launching new collections or organizing events, remain within budget.
Classy Club also focuses on optimizing production costs by selecting reputable manufacturers
with reasonable pricing, while utilizing financial analysis tools to ensure the effectiveness of
investments in each marketing campaign.

2.3.2.4. Operational Management Strategies

a. Production Management Strategy

Classy Club divides the production process into distinct stages, from design to selecting
manufacturers, suppliers, and quality control. Each step is meticulously monitored to minimize
delays and ensure high product standards.

Priority is given to sourcing fabrics and accessories that align with the classic fashion style,
with rigorous checks at every stage to ensure aesthetic appeal and durability.

b. Supply Chain Management Strategy

The company builds sustainable partnerships with production facilities and material suppliers,
maintaining these relationships through regular evaluations to ensure material quality, delivery
timelines, and partner commitment.

A modern inventory management system closely tracks stock levels, minimizing risks of
overstocking or shortages while optimizing delivery processes across all sales channels.

c. Store Operations Management Strategy

● Physical Store Operations:

Work Shift Arrangement: Staff are divided into three flexible shifts to ensure store operations
from 9:00 AM to 10:00 PM, including weekends and holidays.

Sales Training: Store employees regularly receive training on classic fashion consulting,
customer interaction, and relevant professional knowledge. Performance evaluations guide
their development and skill improvement.

Inventory Management: At the end of each day, staff conduct inventory checks and report data
via Google Sheets, enabling real-time synchronization and efficient stock management.

● Online Sales Operations:

Customer Interaction: A chat support team handles customer inquiries and orders on TikTok,
Shopee, Facebook, and Instagram in three shifts, operating from 6:00 AM to midnight to
ensure prompt responses.

Content Support: Collaborations with KOLs/KOCs involve product reviews and creative
content creation. Reviewing videos and interactive sessions build trust, attract new customers,
and boost sales.

d. Product Quality Management Strategy

Classy Club applies strict quality standards throughout operations, from production to
packaging and delivery. Regular training sessions for staff focus on quality standards, brand
style, and handling customer feedback effectively.

e. Continuous Improvement Strategy

The company actively adopts new technologies, such as automated order management
systems, customer support chatbots, and online behavior analysis tools.

Classy Club values customer feedback received through platforms like Facebook, TikTok, and
Shopee, using it to continuously improve products, enhance shopping experiences, and
increase customer satisfaction.

2.1.2. Customer Care Activities

At Classy Club, a brand specializing in classic fashion, we always put the customer first, with
the main goal of delivering perfect shopping experience. Classy Club aims to provide a unique
shopping experience by continuously improving and refining our customer service. Below are
the detailed customer care activities we offer, covering every stage of the shopping journey,
from pre-purchase to post-purchase:

Pre-Purchase Consultation Services: Before making a purchase, customers can take

advantage of Classy Club’s dedicated consultation service through our phone number or social
media platforms (Facebook, Instagram). Classy Club provides support, allowing customers to
easily submit their inquiries at any time, and our dedicated customer care team will respond
promptly. We offer detailed information about product availability, styles, sizes, and any
ongoing promotions. Additionally, Classy Club frequently shares this information on our
social media channels to help customers make informed decisions about which products are
right for them.

In-Purchase and Post-Purchase Service: After placing an order, Classy Club continues to
provide customer support by answering any questions customers may have, offering flexible
and convenient return policies to ensure the best experience. We also keep customers updated
on the latest items, seasonal collections, and exclusive offers through newsletters and our
loyalty program.

Collecting and Responding to Customer Feedback: Once customers receive their orders, we
maintain contact to collect feedback about the product quality, delivery process, and shopping
experience. This feedback is gathered and analyzed to better understand customer needs and
preferences, allowing us to identify areas for improvement to enhance the overall customer
experience.

At Classy Club, we believe that excellent customer service is the key to building long-lasting
relationships with our customers. By providing thoughtful service and feedback at every step
of the shopping journey, we ensure that our customers not only find the perfect fashion items
but also enjoy a seamless and satisfying shopping experience

2.1.3. Financial Management

Financial management is a crucial task in optimizing revenue and ensuring the long-term
development of Classy Club. Financial activities are organized, structured, and tightly
controlled to ensure transparency and efficiency in all business operations.

Daily cash in and cash out management:

In daily operations, customer payments are processed directly through online payment
platforms or delivery services. If requested, Classy Club also provides Value-Added Tax
(VAT) invoices for purchase transactions. The accounting department then monitors and
records the number of invoices daily, ensuring that all revenue and expenditure transactions
are accurately and transparently documented.

Control and Recording of Income and Expenditure:

Classy Club’s accounting department regularly monitors and records all income and
expenditure activities of the company. This ensures that all revenue and costs are managed
effectively, supporting financial decision-making and development planning. Expenses such
as product procurement, fanpage operations, marketing, and employee salaries are carefully
recorded to maintain a stable cash flow for the store. Each expense is clearly categorized to
facilitate tracking of actual costs and future planning.

Periodic Financial Reporting:

At the end of each quarter, Classy Club prepares a detailed financial report on revenue,
expenses, and profits. This report provides an overview of the financial status and business
performance during each period. It not only helps assess the financial situation but also
evaluates the performance of each product or sales channel. Additionally, Classy Club
prepares VAT reports for submission to the tax authorities as required. This is a mandatory
financial obligation, and effective VAT management helps the business avoid legal issues.

At the end of the year, a comprehensive financial report is prepared, covering all financial
activities throughout the year. This report is used to assess business performance, plan
finances for the upcoming year, and meet legal requirements.

Strict and transparent financial management not only helps Classy Club optimize revenue but
also builds a solid foundation for sustainable growth in the future.

2.1.4. Marketing Activities

Marketing plays a pivotal role in connecting with and engaging the customer community that
resonates with Classy Club's fashion offerings. Classy Club's marketing efforts are designed
around both long-term and short-term strategies. The long-term approach focuses on
expanding brand visibility, strengthening brand awareness, and driving traffic across various
platforms. In parallel, Classy Club employs Performance Marketing initiatives to accelerate
sales, sustain cash flow, and support operational stability in the early stages of its growth.

Classy Club primarily engages its target audience through social media platforms, consistently
sharing captivating content, high-quality images, and engaging videos. By maintaining a
cohesive and continuous content strategy, Classy Club solidifies its brand presence and creates
a lasting impression in customers' minds. Additionally, Classy Club collaborates with
carefully selected KOLs and KOCs on Instagram and TikTok, hosts exclusive events to
connect with customers directly, and steadily builds a loyal community that feels personally
connected to the brand.

Classy Club is committed to creativity and innovation, crafting comprehensive marketing

campaigns with clear objectives, defined target audiences, tailored content, strategic
distribution channels, and well-managed budgets. Throughout each campaign, Classy Club
rigorously tracks, analyzes, and evaluates performance to ensure maximum effectiveness in
terms of conversion rates and traffic, making timely adjustments to continuously optimize
campaign outcomes.

2.1.5. Sale Activities

Classy Club is continuously expanding its online and offline sales channels to reach a broader
audience. The brand places a strong emphasis on crafting an image of timeless men’s fashion
through a seamless blend of content strategy and exceptional customer experiences across
digital platforms, while also offering a personalized in-store shopping experience.

When it comes to product imagery, Classy Club invests in high-quality lookbook photography,
capturing each piece from multiple angles to highlight the fabric, craftsmanship, and unique
details. Every item comes with thorough information on its material and care instructions,
empowering customers to make informed purchasing decisions, whether they shop online or
visit in-store.

Classy Club also curates lifestyle content on social media platforms like Facebook and
Instagram, sharing insightful posts on classic styling and essential men’s fashion knowledge.
The brand’s outfit styling series guides customers through the principles of classic dressing,
helping them understand how to select pieces that best reflect their personal style, whether
shopping online or in person.

On e-commerce platforms such as TikTok Shop and Shopee, Classy Club focuses on
enhancing the online shopping experience with a dedicated team of consultants available to
assist customers in choosing the right size and perfect outfits. In parallel, at its physical stores,
Classy Club offers personalized styling services, ensuring customers find the ideal pieces that
are both well-fitted and tailored to their individual tastes.
 2.2. Key Partners
2.2.1. Product Supplier Partners
2.2.1.1. Ingredient Supplier

BAZA Market

Figure 3.5.1: BAZA Market’s image (Source: Internet, 2024)

Company name: Vải Chắt Sức

Address: Block E18, BAZA Market, Ninh Hiệp, Gia Lâm, Hanoi.
Reasons to choose: With a large selection of fabrics and colors, the products are of excellent
quality and are reasonably priced. Customers have flexibility by being able to buy individually
or in small amounts. Furthermore, the consistent supply guarantees on-time delivery, which
helps to reduce shipping expenses and save time.
2.2.1.2. Manufacturing Supplier

Z-Lab Aothunz

Figure 3.4.2: Z-Lab Aothunz’s logo (Source: Z-Lab Aothunz, 2024)

Company Name: Z-Lab Aothunz

Address: 1 Duong Ha, Gia Lam, Hanoi
Reason for Selection: Z-Lab Aothunz offers flexible production volumes with high-quality
craftsmanship, ensuring stable product output. Their services save both time and costs, backed
by a product warranty policy that allows exchanges or returns if there are any issues with the
product.
2.2.2. Packaging Supplier Partners

Quang Cao Thinh Phat

Figure 3.4.3: Quang Cao Thinh Phat’s logo.

(Source: Quang Cao Thinh Phat, 2024)

Company Name: Quang Cao Thinh Phat

Address: 85 Truong Hoc Street, Huu Bang, Thach That, Hanoi

Reason for Selection: Quang Cao Thinh Phat offers a wide range of packaging solutions with
consistent and cohesive designs, high-quality, sharp printing, and the option to produce sample
prototypes. This allows brands to assess the quality and aesthetics of the packaging before
placing large orders, helping to avoid potential errors, and ensuring the best product quality.
They also meet safety and packaging quality standards.

2.2.3. Delivery Partners

Viettel Post Giaohangtietkiem J&T Express

Identification
logo

Figure 3.4.4: Viettel Post's Figure 3.4.5: Figure 3.4.6: J&T's logo.
 logo giaohangtietkiem’s logo. (Source: J&T, 2024)

(Source: Viettel Post, 2024) (Source: Giaohangtietkiem,

2024)

Company Viettel Post Joint Stock Giao Hàng Tiết Kiệm Thuan Phong Express Co.,
name Corporation Joint Stock Company Ltd

Brand name Viettel Post Giao hang tiet kiem J&T Express

Company or N1 Building, Km2, VTV Building, No. 8, 10th Floor, Etown 5, 364
headquarters Pham Van Dong Street, Pham Hung Street, Me Cong Hoa, Ward 13, Tan
address in Mai Dich, Cau Giay, Tri Ward, Nam Tu Liem Binh District, Ho Chi
Vietnam Hanoi District, Hanoi Minh City

Reason to Provide Delivery Services

choose
Viettel Post, J&T Express, and Economy Delivery are popular choices for
shipping needs in Vietnam due to their extensive networks, competitive
pricing, fast delivery times, and excellent customer service.

2.2.4. Payment Service Partners

In addition to cash payments, we utilize advanced 4.0 payment technology platforms to

enhance customer convenience. Classy Club has partnered with various banks, including TP
Bank, and payment platforms such as Momo, offering multiple payment options that save time
and make transactions more seamless for customers.

Figure 3.4.7: TP Bank’s logo Figure 3.4.8: momo’s logo

2.3. Marketing Mix (7Ps)

2.3.1. Products
Classy Club is a brand specializing in classic men's fashion, with our main product lines
including shirts, tank tops, shorts, dress pants, etc and accessories. In addition, we are
expanding our offerings to include more versatile pieces to cater to the diverse needs of men
who appreciate timeless and minimalist style. This allows us to provide a well-rounded
wardrobe that meets the fashion needs of our customers throughout the year.

Product Image
Name Product description Size Price

- Material: Viscose
- Design: Regular fit,
suitable for most Asian
body types; mid-rise
Classic
waistband with elastic S, M, L, XL 450,000
Trousers
sides, adjustable up to 4cm;
single pleat for added thigh
comfort.
- Colors: Black, Brown

- Length: 105cm, Width:

2.3cm
- Material: Premium suede Length:
leather, soft and durable 105cm,
- Design: Solid metal Width:
Classic Suede buckle and tip, rust- 2.3cm
299,000
Leather Belt resistant with brushed Fit: Suitable
finish for a unique vintage for waist
look sizes 70-
- Colors: Black, Sand 95cm
Beige, Premium Grey –
versatile for any outfit

- Material: Seersucker
woven from natural cotton
fibers, soft, breathable, and
highly absorbent
- Design: REGULAR fit
Classic with two back pleats for
Seersucker enhanced shoulder S, M, L, XL 360,000
Shirt mobility, offering comfort
with a tailored look; classic
button-down collar with
unique seersucker texture
- Colors: Blue, Beige,
Offwhite
 - Material: Premium knit
wool, breathable, and
gentle on the skin
Classic
- Design: Regular fit with S, M, L, XL 230,000
Crochet Tank
side slits for enhanced hip
movement
- Colors: Black & Beige

- Material: Breathable knit

wool
- Fit: Light crop top with
fitted sleeves and body to
Classic accentuate the shape while
S, M, L, XL 350,000
Crochet Shirt maintaining comfort.
Features coconut buttons,
ribbed cuffs, hem, and a
classic wide collar
- Color: Beige

- Material: Linen, highly

absorbent, breathable
- Design: Regular fit, knee-
length, suitable for all body
types. Features an elastic
Classic Linen
waistband with drawstrings S, M, L, XL 260,000
Short
for a comfortable fit,
adjustable to most waist
sizes
- Colors: Black, Beige,
Navy Blue

Table 3.5.1: Classy Club’s Product

(Source: Authors, 2024)

2.3.2. Prices

Classy Club chooses to apply both the competitive pricing strategy and the cost-plus pricing
strategy to determine product prices. The competitive pricing strategy helps the products
maintain competitiveness in a highly competitive market like the fashion industry, meeting
customer price expectations and allowing flexible price adjustments based on market
fluctuations. Meanwhile, the cost-plus pricing strategy ensures that the products generate
profit when sold.

Pricing Formula:

Markup price = Total cost per unit/ (1 - desired return on sale)

The selling price here is the listed price for the product, calculated by adding the production
cost and the desired profit margin when the product is sold. Additionally, we will consider and
reference market prices to establish a price that aligns with the product's value.

Example:

The production cost of the Classic Seersucker Shirt is 138,400 VND (This cost includes
material costs, labor costs, and production costs). With a desired profit margin of 55%, the
selling price is calculated as follows:

Selling Price = 138,400/(1 - 55%) = 307,556 VND

After referring to market prices and comparing them with competitor prices, we decide that
our selling price will be 360,000 VND.

2.3.3. Place

Classy Club's products are distributed through a variety of direct sales channels, including the
brand's physical stores, e-commerce platforms, and social media networks such as Facebook,
TikTok, and Instagram.

By combining both online and offline distribution channels, Classy Club ensures a seamless
and convenient shopping experience for its customers. This omnichannel approach allows the
brand to reach a broad audience and optimize its distribution strategy, while also reducing
customer acquisition costs and enhancing customer loyalty. The diverse channels cater to
customers who appreciate the classic and sophisticated fashion style that Classy Club offers.

2.3.3.1. Online distribution channels

Classy Club leverages key online platforms such as Shopee, Facebook, Instagram, and TikTok
to bring its products directly to customers. These platforms not only help the brand connect
with an audience passionate about classic style but also drive sales growth and expand its
market reach.

Shopee offers a powerful e-commerce platform, allowing Classy Club to engage with
customers nationwide, especially through promotional campaigns and major shopping events.
With integrated tools for advertising, payments, and shipping, Shopee helps the brand
streamline order management and enhance the overall shopping experience for its customers.

Meanwhile, TikTok, Facebook, and Instagram are essential for building a loyal community
and engaging directly with customers through videos, posts, stories, and livestreams. This
strategy not only strengthens Classy Club's brand presence but also inspires customers to
explore its latest collections of timeless fashion.

To ensure the efficiency of online sales operations, Classy Club has rented the 1st and 3rd
floors at 177 Khuat Duy Tien, Thanh Xuan, Hanoi. The 3rd floor serves as the service office
and storage facility, while the 1st floor operates as Classy Club's showroom and retail space.

Classy Club's dedicated customer service office and efficient order processing system.

Figure 3.5.2: The office of Classy Club (Source: Authors, 2024)

Complemented by a modern warehouse to guarantee fast product storage and delivery. This
ensures that the brand consistently provides top-notch service and timely delivery, meeting the
needs of fashion enthusiasts who appreciate the elegance of classic style.
 Figure 3.5.3: The warehouse of Classy Club

(Source: Authors, 2024)

2.3.3.2. Physical Store

Classy Club prioritizes online distribution to optimize costs, but still maintains a store at 177
Khuất Duy Tiến, Thanh Xuân, Hanoi, allowing customers to easily visit and find the products
that suit them. The store has an area of 90m², with a monthly rent of 35 million VND, and is
designed with a sophisticated and well-equipped space, including two separate fitting rooms,
comfortable waiting chairs, elegant clothing racks, and accessory display tables. Every detail
in the store is thoughtfully arranged, creating a relaxing and pleasant shopping environment.
 Figure 3.5.3.2: Classy Club's Address

(Source: Authors, 2024)

The store's location at 177 Khuất Duy Tiến, Thanh Xuân, Hanoi, was chosen because it is in a
bustling area with easy access for a wide range of customers, especially those who appreciate
classic fashion. Thanh Xuân is a dynamic district with numerous office buildings, shopping
centers, and entertainment spots, providing Classy Club with opportunities to connect with a
diverse and potential customer base. The location is ideal for combining both in-store
shopping and online activities for the brand.

Figure 3.5.3.2: Outside Classy Club's physical store (Source: Authors, 2024)
 Figure 3.5.3.2: Inside Classy Club's physical store (Source: Authors, 2024)

The store is designed in a modern style, using neutral tones combined with classic design
elements, enhancing the beauty of the classic menswear collections. The products are clearly
displayed on clothing racks and accessory tables, making it easy for customers to browse and
find their favorite items.

2.3.4. Promotion

To enhance the visibility and brand identity of Classy Club, the promotion strategy is divided
into three key components: advertising, public relations, and marketing plans.

2.3.4.1. Advertising

Classy Club is actively present on popular social media platforms such as Instagram,
Facebook and TikTok.

● Facebook

As a crucial platform for connecting with customers, we focus on reaching individuals aged
25-30, a demographic that aligns with our target audience who appreciates classic, timeless
fashion.

On Facebook, posts featuring new products, collections, and brand updates are regularly
shared on the brand’s official page. These posts highlight the latest offers and include
customer feedback or testimonials, helping to build trust and foster a loyal customer base.
In addition, during significant holidays, seasonal sales, or product launches, Classy Club
organizes interactive events like mini-games or special discount offers to boost customer
engagement. These activities not only strengthen the brand's connection with existing
customers but also attract new followers, increasing brand visibility and engagement.

● Instagram

Instagram is a vital platform for reaching a younger audience, especially those who appreciate
classic and sophisticated fashion. Classy Club builds a modern yet elegant brand image on this
platform. The brand posts regularly, featuring high-quality photos, as well as Reels,
showcasing new collections and styling ideas. The posts maintain a consistent aesthetic, using
the brand's signature colors and style to ensure cohesion with other platforms.

Instagram Stories are also a key tool for Classy Club to stay connected with followers. Daily
or frequent updates keep the brand top of mind and foster a sense of exclusivity and
engagement with the audience.

Moreover, Classy Club leverages Instagram’s features to share real customer experiences and
product feedback, building credibility. To enhance brand visibility and attract new customers,
the brand uses relevant hashtags such as #ClassyClub, #TimelessStyle, and #LuxuryFashion to
help customers discover the brand and its offerings.

This integrated approach across digital platforms ensures consistent messaging while nurturing
a stronger relationship with both existing and potential customers.

● TikTok

Classy Club’s TikTok account serves as an engaging platform where customers can explore
the brand’s creative process and experience positive customer feedback. Classy Club has
developed a detailed content strategy with videos showcasing how the brand creates its
timeless, classic fashion pieces, highlighting the design and production journey, and sharing
memorable moments from customer deliveries. This not only helps customers connect with
the brand's values and passion but also builds a deeper sense of trust and connection.
Classy Club also utilizes trending hashtags like #FYP, #TimelessStyle, #LuxuryFashion, and
#ClassyClub to enhance its visibility on TikTok. With captivating content and a clear posting
strategy, Classy Club believes its TikTok presence will attract a broader, younger audience,
effectively supporting future marketing campaigns and helping the brand stand out in the
digital space.

2.3.4.2. Public Relations

To enhance the brand image and strengthen its market presence, Classy Club will implement a
series of public relations (PR) activities aimed at building deeper connections with customers
and the fashion industry.

● Communication Relations

Classy Club will focus on building and maintaining strong relationships with journalists,
bloggers, and influential personalities in the fashion and lifestyle industry. We will organize
exclusive communication events, product launches, and private showcases where influencers
and media representatives can experience the brand firsthand. These events will provide an
opportunity to generate positive press coverage and create articles that enhance the brand’s
presence in both traditional and digital media.

● Participating in Volunteer/Environmental Protection Activities

Classy Club will engage in Corporate Social Responsibility (CSR) activities that align with the
brand's values, such as sustainability and community support. We will take part in
environmental protection initiatives, sponsor local events, and collaborate with non-profit
organizations that share our commitment to social responsibility. These efforts will be
highlighted in press releases and on social media, demonstrating Classy Club’s dedication to
making a positive impact while staying true to its mission of providing sustainable, high-
quality fashion.

● Collaborating with KOC and KOL

Classy Club will collaborate with Key Opinion Consumers (KOC) and Key Opinion Leaders
(KOL) to promote our products in an authentic and engaging way. We will invite influencers
and industry experts to experience our products, share their honest reviews, and create
engaging content such as unboxing videos, product evaluations, and styling tips. This will help
attract their followers, amplify brand reach, and further solidify Classy Club’s reputation as a
trusted luxury fashion brand.

● Public Relations Content

To build stronger relationships with customers and increase brand awareness, Classy Club has
created a dedicated blog on the official website and Facebook page. The blog will feature
stories behind each collection, from design concepts to the production process, as well as
memorable moments from customer deliveries. This content will create an emotional
connection between the brand and its audience.

We will produce high-quality content, including blog posts, customer testimonials, behind-the-
scenes videos, and case studies, and share them across all social media platforms. Our
Facebook page will also be updated regularly with the latest brand activities, special events,
promotions, and behind-the-scenes insights into the team’s creative process. This ongoing
communication will reinforce Classy Club's identity and foster a deeper connection with our
audience.

2.3.4.3. Personal selling

Personal selling is a cornerstone of Classy Club’s promotional strategy, playing a vital role in
cultivating long-term, meaningful relationships with customers. The sales team must possess a
deep understanding of the brand’s classic menswear collections, combined with exceptional
communication skills, to provide personalized advice and guidance. Building trust and
delivering a tailored shopping experience are essential, particularly in the competitive fashion
industry. Classy Club seamlessly integrates in-store consultations with online channels like
TikTok, Facebook, Instagram, and Shopee, allowing the brand to foster strong, personalized
connections with customers and offer a shopping experience that aligns with their unique
needs and preferences.
 2.3.4.4. Sales Promotion

To express gratitude to its customers, Classy Club implements attractive discount policies and
organizes engaging giveaways through minigames. Specifically, every customer who makes a
purchase at Classy Club is rewarded with a 10% discount on their next order, encouraging
repeat visits and fostering a strong sense of brand loyalty.

Additionally, Classy Club hosts monthly sales and special promotions during key holidays
such as Lunar New Year (Tết Nguyên Đán) and National Day (Quốc Khánh), offering
customers the chance to shop at exclusive discounted prices. These promotions are
strategically communicated through digital platforms such as Facebook, Instagram, TikTok,
and e-commerce sites like Shopee, ensuring wide reach and visibility among potential
customers. By blending engaging minigames, loyalty rewards, and seasonal sales, Classy Club
not only boosts sales but also cultivates lasting relationships, enhancing customer satisfaction
and long-term loyalty.

2.3.5. People

Classy Club builds its classic men's fashion brand through a carefully selected team of
employees. We prioritize candidates with a strong understanding of men's fashion, good
communication skills, and especially those passionate about classic men's style.

For in-store staff, Classy Club recruits individuals with experience in fashion sales, capable of
advising on outfit combinations and selecting the right sizes for customers. Staff should have
good communication skills, and knowledge of the store's product range, from suits, shirts, and
trousers to accessories like ties, bow ties, and belts—enabling them to effectively guide
customers.

For the store management team, we select individuals with experience in the men's fashion
industry, excellent personnel management skills, and efficient store operations. They should
be capable of training new staff, solving emerging problems, and ensuring the maintenance of
consistent customer service quality.

For the online channel, we have a professional customer care team skilled in advising through
social media platforms and e-commerce sites. They are well-versed in product information,
and sizing charts, and able to assist customers in selecting the right products through online
channels.

To maintain high performance, Classy Club fosters a friendly and professional working
environment. We offer clear salary and bonus policies, competitive compensation based on
market standards, and opportunities for career advancement for high-performing employees.
Exceptional staff may be promoted to store management roles or other positions within the
company.

Through the recruitment and retention of quality staff, Classy Club ensures the best shopping
experience for customers, contributing to building a reputable classic men's fashion brand in
the market.

2.3.6. Process

Classy Club is a classic men’s fashion brand that primarily operates on social media platforms
such as Facebook, Instagram, TikTok, and Shopee, alongside a customer care channel through
messaging. Each platform has its own distinct process designed to optimize the shopping
experience for customers.

2.3.6.1. Sales Process Through Online Platforms

a. Sales Process via Social Media (Facebook and Instagram) (4-6 days)

Figure 3.5.6.1: Sales Process on Social Media

(Source: Authors, 2024)

Step 1: Customer Outreach

Facebook and Instagram are the primary platforms where customers first discover Classy Club
products. We will post content introducing new collections, product images, styling videos,
and articles about classic style.

Customers can interact with the posts by commenting or sending direct messages via
Facebook Messenger or Instagram Direct to inquire about detailed product information,
pricing, sizes, or any other related details.

Step 2: Customer Consultation via Messaging

When customers have questions about a product, size, or need styling advice, Classy Club’s
customer service team will respond immediately and provide detailed product information
(size, color, material, style).

Our staff will guide customers in selecting products that suit their needs and personal style.
Any product-related questions will be answered comprehensively and clearly.

Step 3: Order Confirmation

Once a customer decides to make a purchase, the staff will ask the customer to confirm the
product, quantity, size, and color via messaging.

Classy Club will request the customer’s delivery details, including name, address, and phone
number, to prepare for shipment.

Step 4: Payment and Packaging

After the order is confirmed, Classy Club will inform the customer of the total order cost,
including shipping fees (if applicable). Customers can pay via bank transfer or opt for Cash on
Delivery (COD).

Once payment is received or COD is confirmed, the staff will forward the order to the
warehouse for inspection and careful packaging. The order will be packed securely with
protective materials, along with an invoice, a thank-you card, and any promotional gifts (if
applicable).

Step 5: Shipping
Classy Club partners with shipping providers such as Giao Hàng Nhanh, Viettel Post, J&T, or
other services depending on the delivery area.

Once the order is dispatched, Classy Club will provide the customer with a tracking number to
monitor the order online. The staff will notify the customer of the estimated delivery time.

Step 6: Delivery Confirmation and After-Sales Care

After receiving the product, Classy Club will follow up with the customer via messaging to
confirm that they have received their order and ask about their product experience.

If the customer has any questions or requests related to the product (returns, warranty, or
usage instructions), our team will provide immediate assistance.

b. Sales Process via E-Commerce Platform (TikTok Shop) (3-5 days)

Figure 3.5.6.2: Sales Process on TikTok Shop

(Source: Authors, 2024)

Step 1: Customer Engagement Through Video

TikTok is the main platform for Classy Club to showcase products through engaging short
videos. These videos could include content like new fashion collection highlights, classic
styling tips, or product "unboxing" videos. Classy Club will use TikTok to capture the
attention of the target audience, with appropriate hashtags to broaden the reach.

Customers can view products directly in the videos or from Classy Club's TikTok Shop on
their personal page. In each video or post, the product will be linked to the TikTok Shop for
easy purchase.
Step 2: Adding Products to the Cart

When customers find a product, they want to purchase, they can click the link to the TikTok
Shop to view detailed product information. In the TikTok Shop, customers will have the
option to choose the size, color, and quantity of the product. If they have any questions, they
can message the staff for more detailed product advice. After considering and selecting the
product, customers can add it to their shopping cart.

Step 3: Order Payment

After selecting the products in their cart, customers can go to the cart to review the items.

TikTok Shop offers payment methods such as bank cards, e-wallets (MoMo, ZaloPay, etc.), or
COD (Cash on Delivery). Customers select the preferred payment method and complete the
payment process directly through TikTok Shop.

Step 4: Order Processing

Once the customer has completed the payment, the order will be forwarded to the Classy Club
warehouse for processing and packaging.

Products will be carefully packed, with an invoice and any promotional gifts (if applicable),
along with a thank-you card and discount voucher as a token of appreciation for the customer.

Step 5: Shipping

Classy Club will hand over the order to the delivery partners (e.g., Giao Hàng Nhanh, Viettel
Post, or other shipping providers) depending on the customer's location.

Once the order is shipped, Classy Club will provide the customer with a tracking number to
monitor the delivery status online.

Step 6: Receipt and Order Confirmation

When the customer receives the product, the staff will follow up via TikTok to confirm that
the order has been delivered correctly and request that the customer check the quality of the
product.
Customers can leave a product review and provide feedback on the product quality or service
via TikTok Shop or through direct messaging.

c. Sales Process via E-Commerce Platform Shopee ( 2- 3 days )

Figure 3.5.6.3: Sales Process on Shopee (Source: Authors, 2024)

Step 1: Product Search and Selection

Classy Club uploads its classic fashion products to the Shopee store. Each product listing
includes high-quality images, detailed descriptions (material, size, color), and reviews from
previous customers.

Customers can search for products through the Shopee search function or visit Classy Club’s
official store to browse and choose products.

Step 2: Adding Products to the Cart

Once customers have selected their desired products, they can choose the size, color, and
quantity. Afterward, they can add the product to their cart or proceed to check out if they do
not wish to add more items.

Step 3: Cart Review, Applying Discount, and Payment

In the cart, customers can review the products they have selected, including the quantity, size,
and color. Shopee also allows the application of discount codes, free shipping promotions, or
Shopee coins (if applicable). Customers can enter the code for the discounts.
Shopee provides various payment methods, including bank transfer, e-wallets (ShopeePay,
MoMo), or Cash on Delivery (COD). Customers select their preferred payment method and
confirm their order.

Step 4: Order Processing

After the customer completes the order, Shopee's system will notify Classy Club of the order
details. The Classy Club team will verify the order information, prepare the products, and
carefully package them to ensure quality when delivered to the customer.

The order will be packed with the invoice and any gifts (if applicable), along with a thank-you
card and discount voucher to show appreciation to the customer.

Step 5: Shipping via Shopee’s Delivery Partners

Classy Club will hand over the order to Shopee's delivery partners such as Shopee Express,
Giao Hàng Nhanh, or Viettel Post. Shopee will automatically update the tracking number in
the system, allowing customers to track the status of their order directly in the Shopee app.

Step 6: Customer Receives the Product and Leaves a Review

Once the customer receives the order from the delivery partner, they can check the product.
After inspection, the customer is encouraged to leave a review and provide feedback on the
product’s quality and service.

2.3.7. Physical Evidence

2.3.7.1. Logo
 Figure 3.5.2: Classy Club’s logo.

(Source: Authors, 2024)

The logo of Classy Club features a minimalist design that carries deep meaning, conveying the
spirit of elegance and the sophisticated style the brand aims for. The two symmetrical curves
in the logo represent the two "C"s, the initials of "Classy Club," symbolizing the connection
between tradition and modernity, as well as between the classical and contemporary values
that Classy Club embraces. The two "C"s harmoniously combine to form a balanced shape,
both soft and strong, reflecting the refined and confident character of the classic gentleman.

Below the symbol, the name "Classy Club" is displayed in a simple, readable, yet refined font,
enhancing the luxurious and approachable appearance. The predominant black-and-white
color scheme exudes a classic feel, with black symbolizing masculinity, sophistication, and
durability, while white evokes elegance and purity. The overall design of the logo creates an
image that is both classic and stylish, affirming that Classy Club is a brand for men who
appreciate timeless, refined, and classic fashion.

2.3.7.2. Product packaging

The packaging of Classy Club products is designed with sophistication and elegance, perfectly
reflecting the brand’s blend of classic and modern styles. With a minimalist yet luxurious
design, the packaging not only elevates the product’s value but also enhances the overall
premium image of Classy Club. Each product package is carefully crafted with boxes, bags,
and tags, along with essential information such as size details, ensuring customers can easily
make the right choice and enjoy the product to the fullest.
 Figure 3.5.3: Classy Club's packaging.

(Source: Authors, 2024)

2.3.7.3. Uniforms

Figure 3.5.23. Classy Club shirt

(Source: Authors, 2024)

2.3.7.4. Employee Identification Card

 Figure 3.5.23. Employee Identification Card

(Source: Authors, 2024)

2.3.7.5. Thank you cards

Figure 3.5.4: Classy Club's thank you cards.

(Source: Authors, 2024)

2.3.7.6. Discount card for next purchase.

 Figure 3.5.5: Classy Club’s Discount cad.

(Source: Authors, 2024)

2.4. Marketing Campaign

2.4.1. Pilot sales

Before the official launch, we decided to conduct a trial sale of men’s fashion products online.
This decision was made to help Classy Club assess the potential of the product, optimize every
aspect, and ensure that the product will achieve sustainable success in the current market.

Fortunately, after more than two months of testing, we received positive feedback from
customers. From October 13, 2024, to December 13, 2024, Classy Club completed forty-two
orders through our official Facebook page. We also reached out to customers via TikTok and
other online media channels, generating a revenue of 23,725,000 VND. The online sales
figures for the past three months are as follows:

Time Number of Number of Total Revenue

Customers Products

October 2024 7 9 2,715,000 VND

November 2024 45 83 28,086,000 VND

 December 2024

Total Xxx

Table 3.6.2: Revenue in Pilot Sales

Source: (Authors, 2024)

Detailed information about the order list from the pilot sales is attached in Appendix 3.

Based on the insights gained from the pilot sales phase, which began on October 14, 2024,
Classy Club has developed a comprehensive one-year marketing campaign. This strategy will
guide the brand's efforts from 2025, leveraging data and customer feedback from the trial
period to strengthen the brand, enhance customer engagement, and drive sustainable growth.
2.4.2. Marketing Objectives

Classy Club has decided to apply the SMART model, developed by George T. Doran in 1981,
to its marketing goals. This model helps strategic planning steps take place quickly and
increases accuracy greatly, from which the staff below will also have a clear direction to work
with the leader toward common goals (Hạnh, 2024).

https://base.vn/blog/mo-hinh-smart/

The goals set using this model must meet the following criteria: Specific, Measurable,
Achievable, Relevant to the overall strategy, and Time-bound.

By applying the SMART model, Classy Club can clearly define what needs to be
accomplished, ensuring that each goal is measurable to evaluate performance and progress.
This model also ensures alignment with the company’s overall strategy and includes specific
deadlines to ensure timely execution. This approach helps us focus on key objectives and
achieve them in the most efficient way, allowing Classy Club to grow and succeed in its
marketing strategy.

Classy Club has set the following marketing goals based on the SMART model:

Specific Measurable Achievable Relevant Time bound

Drive revenue Instagram: Create and Expand brand Achieve all goals by December
and expand Attract 20,000 execute a presence and 31, 2025.
Classy Club’s new followers. content strategy market share.
presence online tailored to each
and offline. platform
Increase brand (Instagram,
awareness, Facebook,
engagement, TikTok,
and conversions Shopee).
through content Partner with
and ads. influencers and
KOLs to boost
brand visibility
Facebook:
and
Achieve 5,000
engagement.
likes on posts.
Run targeted
TikTok: Reach
paid ad
200,000 views
campaigns on
and attract
Facebook,
50,000 new
Instagram, and Increase
followers.
TikTok to awareness,
Shopee:
attract potential attract
Increase sales
customers. customers, and
by 20% and
Improve drive sales.
gain 10,000
customer Boost loyalty
customer
service both and enhance
reviews with an
online and in- customer
average rating
store to experience.
of 4.8 stars.
enhance
Physical Store:
retention and
Increase foot
satisfaction.
traffic by 15%
Use behavioral
and grow in-
analysis to
store sales by
optimize
10%.
content
strategies for
ads and
promotions.
Introduce new
seasonal
product
collections to
meet customer
demands.
 Table 3.6.1: Classy Club one-year SMART goal model 2025

(Source: Authors, 2024)

Classy Club’s SMART marketing goals for the next one year not only focus on growing and
expanding on social media platforms but also aim to establish partnerships with reputable
manufacturers and suppliers in the classic men’s fashion industry. This reflects Classy Club’s
original vision of becoming a trusted and reliable brand in the classic men’s fashion sector,
striving to establish a strong foothold in the industry, particularly in classic men’s fashion.

2.4.3. Marketing plan for one year

Classy Club has strategically planned and executed the following key initiatives:

No Phase Objective Duration

Establish Classy Club as a distinguished name in the classic men’s
fashion market, fostering strong brand awareness and credibility.
Strengthen connections with potential customers through compelling 1/1/2025
Foundation online advertising campaigns on Facebook, Instagram, TikTok, and -
1
and Branding Shopee. 31/3/202
Drive engagement and brand positioning with a focus on strategic 5
communication. Grand opening of the physical store in January 2025
to build a local presence.
Strengthen online advertising on Facebook, Instagram, TikTok, and
Shopee to reach new customers. 1/4/2025
Expansion and Expand product range with new designs, styles, and special -
2
Impact collections. 30/9/202
Increase brand visibility and recognition through targeted digital 5
campaigns.
Cultivate strong relationships with existing customers, enhancing
1/10/202
satisfaction and inspiring brand loyalty.
Loyalty and 5-
3 Drive revenue growth through strategic direct marketing, engaging
Growth 31/12/20
promotions, and exceptional customer care, supported by professional
25
and seamless after-sales service both online and in the physical store.
Table 3.6.3: Classy Club’s Action Plan for the first year (Source: Authors, 2024)
Detail Marketing plan for 1 year:

Promotion
Time Target Key activities Channels
tools

Phase 1: The expansion and development phase (3 months) (1/1/2025 - 31/3/2025)

1/1/2025 - Create Engaging - Organize a grand opening event Advertising

31/1/2025 Content: Develop (offer gifts to the first 50 customers).
creative content to
introduce classic fashion- Introduce special fashion PR:
collections for men, collections.
Collaborate
especially during the - Invite influencers and KOLs Physical
with
store opening and Lunar (Simple Men, Nam Satorial) to store,
New Year. Share styling attend the grand opening event to Facebook, Influencers/
tips, fashion advice, andreview the Classy Club store. Instagram, KOLs;
success stories from Leverage their influence to reach WOM
customers, while potential customers and spread the Tiktok,
highlighting new classic style. Shopee
collections and special - Host a mini lucky draw game for Sale
products for the New customers who purchase products. promotion
Year season. - Offer a 30% discount on orders
when purchasing products at the Personal
Collaborate with KOLs store.
selling
and Influencers: Partner
with famous KOLs and - Build and develop a TikTok Facebook,
influencers to promote channel to promote products. Instagram
the brand during the - Run ads to introduce the store on Tiktok
store opening and Lunar social media.
New Year. Build a - Book KOLs to review products
strong presence on (Đức Thuận, Mr. Hân, etc.).
social media platforms - Mini game "Welcome Classy
to connect with the Club": Participants are required to
target audience and like the fanpage, tag 3 friends, and
attract potential choose a lucky number from 1 to 99
customers through posts that they predict will match the last
and videos introducing two digits of the special lottery result
the store and products. on January 7. The person with the
correct or closest result will receive a
Promotions and prize.
Discounts: Offer special Prizes:
promotions for first- 1st Prize: Classic Trousers
time shoppers at the 2nd Prize: Classic Suede Leather
Belt
 store during the opening 2 Third Prizes: 30% Voucher
and Lunar New Year to 5 Encouragement Prizes: 20%
encourage product trials. Voucher
Implement a referral
program to reward Create Engaging Content: Develop
existing customers with posts and videos about classic
offers when they attract fashion collections for men,
new customers. especially for the Lunar New Year
and the store opening. Share styling
Run Advertising tips for the holiday season and how
Campaigns: Increase to choose elegant outfits for the New
brand recognition and Year.
attract potential
customers through Lunar New Year Combo - Buy 3,
advertising campaigns Get 1 Free when purchasing 3 Classy
on social media, Club fashion products:
especially during the - Free shipping for orders over
store opening and Lunar 500,000 VND on online purchases.
New Year. Use high- - 10% discount voucher for the next
quality images and purchase.
engaging messages
1/2/2025 - Launch a lucky red envelope draw
about men's classic
28/2/2025 for all orders, giving customers the
fashion style.
chance to participate in the draw.
Offline: Red envelopes are handed Physical
Enhance Brand
out directly at the store when store,
Recognition and Attract
customers purchase products. Facebook,
New Customers:
Online: Red envelopes are random Instagram,
Develop new products.
vouchers worth 100k, 50k, 20k, or
The goal is to raise
10k VND. Tiktok,
awareness of the Classy
Shopee
Club brand and attract
new customers,
Valentine's Day 2025 Event " Tết
particularly young
Tình Yêu Cùng Classy Man":
individuals who
- Orders from 800,000 VND:
appreciate classic and
Receive a premium scented candle
elegant styles.
with a relaxing, luxurious fragrance.
- Orders from 1,500,000 VND:
Receive 2 scented candles with
different fragrances, allowing
customers to choose according to
their preferences.

Mini Game “Khoảnh Khắc Valentine Facebook,

– Chia Sẻ Yêu Thương” Instagram
 - How to participate: Customers
share a memorable moment from
their Valentine’s Day (it could be a
photo with their partner, friends, or
family) on social media and tag
Classy Club with the hashtag
#ValentineWithClassyClub.
- Prize: The winner, who gets the
most likes on their photo, will Tiktok
receive a set of 2 scented candles
with different fragrances, along with
a luxurious gift box.

Continue running advertising

campaigns on social media and the
website to sustain growth and build
brand awareness.

- Organize livestream sales sessions

in collaboration with KOLs to
introduce products, share tips on
TikTok
classic styling, and increase
engagement, driving direct purchases
on social media platforms.

Online Lucky Draw Program: With Physical

each order, customers will have the store,
chance to participate in the lucky Facebook,
draw, encouraging shopping and Instagram,
increasing engagement.
Prizes: Tiktok,
1st Prize: Shopping voucher worth Shopee
599k VND
2nd Prize: Shopping voucher worth
399k VND
3rd Prizes: Shopping voucher worth
199k VND
5 Encouragement Prizes: 99k VND
discount voucher for the next
purchase.

1/3/2025 - Super Sale 3/3 - Huge Discounts of

31/3/2025 Up to 60% on All Products.

Sale up to 70% Off on All Last

 Season's Products to "Clear
Inventory" Before the New
Collection Launches.

Organize Livestream Sales Sessions

Continue running advertising
campaigns on social media and the
website to sustain growth and build
brand awareness.
Facebook,
Post "teaser" images of the upcoming
Instagram
spring-summer collection. These
Tiktok
images reveal only a partial view of
the products, creating curiosity and
excitement, and encouraging
customers to anticipate the launch
date.

Launch an Exclusive Classic

Accessories Line, including hats,
Physical
ties, belts, and other accessories with
store
a classic style, to meet the needs of
Instagram,
customers who want to complete
their look. This is a strategic step to
Facebook,
expand market share and strengthen
Tiktok
Classy Club's position in the classic
fashion market.

Phase 2: The expansion and development phase (6 months) ( 1/4/2025 - 30/9/2025)

1/4/2025 - Revenue Growth and Launch of the Spring-Summer Advertising

30/6/2025 Brand Building: Collection - "Chào Mùa Nắng Tươi"
Achieve at least a 20% Content: Introduce the summer
revenue growth in the accessories collection, focusing on Physical PR:
first quarter through products that suit the summer store
Collaborate
promotions, store climate while maintaining a classic Instagram,
with
opening events, and and sophisticated style. Share the
special advertising story behind the fusion of classic Facebook, Influencers/
campaigns. At the same aesthetics and modern design, Tiktok
time, strengthen and making it easy for customers to KOLs;
expand the Classy Club incorporate into their summer WOM
brand on social media wardrobe.
platforms.
Host an Online Talk Show: "Phong Facebook Sale
Building Trust and cách cổ điển - Biểu tượng vượt thời Instagram
promotion
gian"
Engagement with - Content: Fashion experts will share
Customers: Create tips on styling and building a classic Personal
sustainable engagement wardrobe that aligns with individual selling
with customers through personalities, helping customers
online community better understand classic style and
activities, including how to incorporate it into daily life.
contests, mini-games, - Format: Online talkshow via Zoom
and interactive or Facebook Live, enabling broad Tiktok
Livestream sessions, reach to viewers and potential
providing opportunities customers.
for customers to share - Post-Workshop Interaction: Offer
moments and stories discount vouchers to participants,
related to classic style. encouraging them to shop at Classy
Club after being inspired by the
Collaboration with talkshow.
KOLs and Influencers:
Partner with KOLs and Booking KOL Phi Vi to Promote the
influencers to promote Summer Collection
the summer collection, - KOL: Phi Vi (One of the
helping to establish a pioneering KOLs on TikTok, with
strong presence on over 800k followers on the platform.
social media platforms He shares knowledge and
and attract the attention experiences about dressing well and
of the target audience. introduces high-quality products to
Tiktok
his audience. Additionally, his
Enhancing Brand Instagram account boasts nearly
Presence and Customer 100k followers.)
Interaction: Increase - Common Traits: Influencers like
Classy Club's brand Phi Vi embody a mature, classic
presence on social style and provide their audience with
media platforms, while valuable insights and experiences in
building a community of fashion.
classic style enthusiasts
where customers can Campaign: “Phong cách cổ điển mùa
share, exchange, and hè” Physical
connect with like- - Content: Promote the summer Store
minded individuals. collection featuring classic, Instagram,
lightweight, and breathable products
suitable for hot weather. The goal is Facebook,
to help customers who love the Tiktok
classic style find comfortable outfits Shopee
while maintaining their unique look.
- Special Promotion: 15% off on
orders from 599,000 VND, along
with a 10% discount voucher for the
 next purchase. This encourages
shopping and motivates customers to
return.
- Online Mini-Game: Host the mini-
game “Phong cách cổ điển ngày hè”
on Facebook and Instagram, where
customers can share their summer
styling ideas. Posts with the highest
engagement will win shopping
vouchers for Classy Club.

Develop Interactive Content on

Social Media
- Share Styling Tips and
Suggestions: Post articles and videos
guiding customers on how to style
classic outfits with a summer twist. Facebook
- Workshop: “Phong cách cổ điển Instagram
qua các thập kỷ”: Host a workshop Tiktok
on TikTok and Facebook, where the
Classy Club team shares the history
of classic fashion across different
decades and introduces standout
products.

Loyalty Program for Customers

- Earn Points with Every Purchase:
Customers can accumulate points
with each purchase and redeem them
for special discounts or gifts on
future orders. This not only
encourages repeat purchases but also
Physical
fosters long-term loyalty to Classy
Store
Club.
Facebook
- Birthday Month Special: During
Instagram
their birthday month, customers will
Tiktok
receive a congratulatory SMS from
Classy Club along with an exclusive
discount voucher valid for the
month, as a token of appreciation
and to enhance their shopping
experience.

1/7/2025 - Create engaging content Share Customer Style Stories Facebook

30/9/2025 and interact with Series: “Tại Sao Tôi Chọn Phong Instagram
 Cách Cổ Điển?”: A platform where
customers share their love for the
classic style. They can talk about
customers about classic their journey to discovering this style
Tiktok
fashion style. or share memorable experiences
wearing classic outfits at significant
events.

Launch the “Bạn Cũ - Quà Mới”

Program
Encourage current customers to refer
a friend for shopping. The referring
customer will receive a 10%
Enhance customer discount code for their next
loyalty through purchase, while the new friend gets a
promotional programs 5% discount on their first order.
and referral incentives. Launch the “Mua Sắm Cùng Bạn,
Nhận Ưu Đãi Lớn!” Program
Customers can team up with friends
Physical
to shop together and enjoy bigger
Store
discounts: 15% off for groups of two
Facebook
or more.
Instagram
Tiktok
Ra Mắt Bộ Sưu Tập Mùa Thu: Giới
Enhance brand presence
thiệu bộ sưu tập thời trang thu đông
and attract new
với các thiết kế lấy cảm hứng từ vẻ
customers: Launch a
đẹp của thiên nhiên mùa thu, kết hợp
collection to drive
phong cách cổ điển và chất liệu ấm
engagement on social
áp. Chia sẻ câu chuyện về sự hòa
media platforms,
quyện giữa gam màu trầm ấm và
attracting and expanding
thiết kế lịch lãm, giúp phái mạnh
the audience who loves
khẳng định phong cách trong những
classic style.
ngày se lạnh.

Collaborate with Prominent Male

KOLs like "Ông Chú Polo" to
Collaborate with KOLs
promote Classy Club as a highly
and influencers to
versatile classic fashion brand. Tiktok
promote classic style
Host Q&A Livestream Sessions to
that fits modern life.
share insights on classic style and
tips for creating suitable outfits.

Classic fashion product Organize Seasonal Promotion

promotion program. Programs: "Mùa hè rực rỡ" (tháng Physical
 7), "Chào Đón Mùa Thu" (tháng 8),
Store
"Ưu Đãi Lễ Quốc Khánh " (tháng 9)
Instagram,
These promotions will feature
discounts ranging from 20% to 25%.
Facebook,
The programs will be adjusted based
Tiktok
on actual circumstances to encourage
Shopee
customer purchases and boost sales.

Phase 3: Retention and customer loyalty phase (3 months) ( 1/10/2025 - 31/12/2025)

1/10/2025 - Revenue Growth: Drive Organize the "Thời Trang Cổ Điển Instagram, Advertising
30/10/2025 strong sales growth Cho Phái Mạnh" Workshop:
during the holiday - Offline Promotion at Fashion Facebook,
season through Events or Universities: Seek support Tiktok PR:
attractive discount and connect with individuals
Collaborate
programs like 11/11, passionate about classic fashion.
with
Black Friday, and - Online Promotion via Fan Page and
Christmas, with special TikTok: Promote the workshop on Influencers/
offers and valuable gifts social media platforms to reach a KOLs;
for customers. wider audience. WOM

Attract New Customers "Classy Club 10/10 - Mua Sắm Cổ Sale

Instagram,
and Increase Điển, Ưu Đãi Đặc Biệt"" Program: promotion
Engagement: Stimulate 20% Off on all Classy Club products
Facebook,
shopping and increase Special Gift for orders over
Tiktok, Personal
brand visibility on 2,000,000 VND: Choose one
Shopee, selling
online platforms accessory
Physical
(Shopee, Instagram, Free Shipping on orders over
store
Facebook, TikTok) 500,000 VND
through advertising
campaigns and Organize Charity Project: "Quà Tặng Physical
livestream sales with Yêu Thương" store,
influencers. Focus on Classy Club will collect clothing at Instagram,
driving attention to stores and through the fanpage,
winter collections and encouraging the community to Facebook,
men's fashion products. participate in donations. The donated Tiktok,
clothes will be distributed through
Encourage Larger charity organizations or directly to
Purchases: Motivate children in remote areas, along with
customers to buy more fun activities. The goal of this
products with offers like project is to build a brand image that
"Buy 1 Get 2," is close-knit, compassionate, and
additional discounts for community-oriented.
bulk purchases, and free
Halloween Promotion Program:
 shipping for orders - Buy 1 Get 1 Free: Purchase any
Physical
above a certain price, mystery gift product, such as fashion
Store
boosting the average accessories (ties, leather bags, silk
Instagram,
order value. scarves...)
- Free Shipping for all orders during
Facebook,
Enhance Customer the Halloween promotion, applicable
Tiktok
Loyalty and Retention: for orders within Hanoi's inner city
Shopee
Strengthen loyalty area.
programs, offer special
gifts, and provide Tiếp tục chạy các chiến dịch quảng
incentives for returning cáo trên mạng xã hội và trang web để
customers. Maintain duy trì tăng trưởng và xây dựng nhận
customer engagement thức về thương hiệu
and encourage repeat
1/11/2025 - shopping after Launch of Winter Collection
Instagram,
31/11/2025 promotions. Content: Introduce the winter fashion
collection with classic designs made
Facebook,
Enhance Customer from premium materials such as
Tiktok,
Experience: Improve wool, tweed, and leather. Focus on
both online and in-store products like coats, sweaters,
shopping processes, scarves, and accessories that embody
offer fast shipping, an elegant style, showcasing the
provide free delivery for enduring appeal of classic fashion
orders above a certain during the cold winter months.
threshold, and offer
11/11 Super Sale Program: " Mua
dedicated customer
Sắm Thả Ga, Nhận Ngay Quà Physical
service to ensure a
Khủng" Store
seamless shopping
- Voucher worth 249,000 VND on Instagram,
experience.
purchases over 1,000,000 VND
- Free Shipping on online orders over Facebook,
Increase Brand
500,000 VND, applicable for all Tiktok
Awareness: Build and
orders within Hanoi's inner city area. Shopee
enhance the brand's
image through creative Continue running advertising Instagram,
communication campaigns on social media and the
campaigns, website to sustain growth and build Facebook,
collaboration with brand awareness. Tiktok,
influencers, and PR
efforts. Bring the brand Organize sales livestream sessions in
image closer to the collaboration with KOL Phi Vi to TikTok
target audience, promote the winter collection.
especially during the
holiday season. "Ngày Quốc Tế Nam Giới - Tôn Physical
Vinh Phái Mạnh" Program: Store
 - 15% discount on all men's fashion
products at Classy Club.
- Special gift for orders over
1,000,000 VND: Choose any
accessory.
- Free shipping on orders over
500,000 VND.

"Classy Man Black Friday – Mua

Sắm Lịch Lãm, Ưu Đãi Siêu Sốc"
Program:
- Up to 70% off on all products.
- 15% additional discount on orders
with 2 or more items. Instagram,
- Free shipping on November 28th.
Facebook,
12/12 Sale Program - "Ưu Đãi Cuối Tiktok
Năm, Phong Cách Cả Năm": Shopee
- 30% off on all orders from 700,000
VND.
- Free shipping on all online orders
from 500,000 VND, applicable for
orders within Hanoi city.

"Classy Club - Giáng Sinh Ấm

Áp"Program:
- Buy 1 Get 2 (Receive 1 product
1/12/2025 - under 200k VND (choose from a
30/12/2025 selection) + 1 scarf).
- Gift wrapping and free shipping for
all orders during the holiday season.

Organize live-stream shopping

sessions with KOLs Phi Vi and Đức Tiktok
Thuận.

Continue running advertising Instagram,

campaigns on social media and the
website to maintain growth and build Facebook,
brand awareness. Tiktok,

Table 3.6.4: Marketing plan for 1 year

(Source: Authors, 2024)

2.4.4. Marketing Budget

To ensure Classy Club’s marketing strategy is impactful and aligns seamlessly with our
growth aspirations for 2025, we have crafted a comprehensive budget plan. This blueprint not
only underscores our dedication to elevating our brand and championing classic men’s fashion
but also serves as a guide for maximizing the efficiency of our marketing investments. Below
is our projected marketing budget for the next two years, highlighting key spending priorities
and strategic financial targets.

Budget
Time Activities Duration
(VND)
Total budget 822,000,000
Run Ads on Facebook 35,000,000
Run Ads on Instagram 1/1 - 31/3 35,000,000
Run Ads on Tiktok 35,000,000
Organizing opening events 3/1 40,000,000
Book KOLs product reviews (Duc Thuan, uncle named
10/1 25,000,000
Han,...)
Mini game "Chào đón Classy Club" 6/1- 8/1 5,000,000
Organizing Tet program 15/1 - 24/1 15,000,000
1/1/2025 - Organizing the program "Khai Xuân Rộn Ràng - Ưu Đãi
31/3/2025 Ngập Tràn" 5/2 - 9/2 5,000,000

Valentine's Day 2025 Event Program "Tết Tình Yêu Cùng

12/2 - 14/2 5,000,000
Classy Man":
Organize livestream sales sessions in collaboration with 20/2
30,000,000
KOLs Phi Vi and Duc Thuan 16/3
23/2 -
Online lucky draw program 2,000,000
25/02
Super Sale 3/3 2/3 - 4/3 10,000,000
"dọn kho" program before launching new collection 10/3 - 20/3 8,000,000
1/4/2025 - Run Ads on Facebook 70,000,000
30/9/2025 Run Ads on Instagram 70,000,000
Run Ads on Tiktok 1/4 - 30/9 70,000,000
Organizing livestream sales sessions 30,000,000
Loyalty Customer Program 10,000,000
Organizing Talkshow: "Phong cách cổ điển - Biểu tượng
8/4 20,000,000
vượt thời gian"
Booking KOL Phi vi 17/4 30,000,000
Organizing the program “Phong cách cổ điển mùa hè” 2/5 - 18/5 10,000,000
Deploying the Program “Bạn Cũ - Quà Mới” 10/6 - 25/6 5,000,000
Deploying the Program “Mua Sắm Cùng Bạn, Nhận Ưu Đãi 5,000,000
Lớn!”
 Booking KOL Ông chú Polo 24/7 10,000,000
Promotional program "Mùa hè rực rỡ" 4/7 - 7/7 10,000,000
Organizing "Chào Đón Mùa Thu" 6/8 - 13/8 10,000,000
National Day 2/9 Special Offer 1/9 - 3/9 5,000,000
Run Ads on Facebook 35,000,000
Run Ads on Instagram 1/10 - 35,000,000
Run Ads on Tiktok 31/12 35,000,000
Loyalty Customer Program 5,000,000
Organizing Workshop "Thời Trang Cổ Điển Cho Phái
7,000,000
Mạnh"
Organize Workshop "Classy Club 10/10 - Mua Sắm Cổ 9/10 -
10,000,000
Điển, Ưu Đãi Đặc Biệt" 11/10
Organizing a charity project: "Quà Tặng Yêu Thương" 5,000,000
29/10 -
1/10/2025 Halloween Discount Campaign 31/10
5,000,000
- Super sale 11/11 " Mua Sắm Thả Ga, Nhận Ngay Quà 9/11 -
31/12/202 Khủng" 10.000.000
12/11
5
11/11
Organizing live streaming sales sessions in collaboration
12/12 50,000,000
with KOLs Phi Vi and Đức Thuận.
24/12
Promotional program "Ngày Quốc Tế Nam Giới - Tôn Vinh 17/11 -
5,000,000
Phái Mạnh" 20/11
Promotional program "Classy Man Black Friday – Mua Sắm 24/11 -
15,000,000
Lịch Lãm, Ưu Đãi Siêu Sốc" 29/11
10/12 -
Super sale 12/12 "Ưu Đãi Cuối Năm, Phong Cách Cả Năm" 10,000,000
13/12
23/12 -
5,000,000
Promotional program "Classy Club - Giáng Sinh Ấm Áp" 25/12

Table 3.6.6: Expected marketing budget for 2025 (Source: Authors, 2024)

2.4.5. Marketing KPIs

To gauge the effectiveness of our marketing efforts and ensure consistent progress toward our
ambitious goals, Classy Club has established a refined set of key performance indicators
(KPIs) for 2025. These KPIs will serve as a strategic compass, enabling us to measure success,
fine-tune our approach, and adapt swiftly to evolving market dynamics. Below is an overview
of the marketing KPIs we will track and evaluate over the next two years, driving the growth
and impact of our classic men’s fashion brand.

Time Activities Duration Budget CPM Total Total Total Conversion

 new
(VND) (VND) Impressions Reach Follower rate ?%
s
1/1/2025 - Run Ads on
31/3/2025 Facebook 35,000,000 49,985 700,210 70,021 10,503 15.00

Run Ads on 1/1 -

31/3 35,000,000 50,970 686,678 68,668 10,300 15.00
Instagram
Run Ads on
35,000,000 49,000 714,286 71,429 10,714 15.00
Tiktok
Event
883,20
declaration 3/1 40,000,000 ---- 2,208,000 17,664 2.00
0
organization
Book KOLs
product
reviews (Duc 334,98
10/1 25,000,000 ---- 1,674,900 ---- 0.06
Thuan, uncle 0
named
Han,...)
Mini game
"Chào đón 6/1- 8/1 5,000,000 ---- 10,000 1,000 100 1.00
Classy Club"
Organize Tet 15/1 -
15,000,000 ---- 67,000 6,700 ---- 1.49
program 24/1
Organizing
the program
"Khai xuân
5/2 - 9/2 5,000,000 ---- 15,000 1,500 ---- 3.33
rộn ràng - Ưu
đãi ngập
tràn"
Valentine's
Day 2025
Event
12/2 -
Program " 5,000,000 ---- 20,000 2,000 ---- 2.25
14/2
Tết tình yêu
cùng Classy
Man"
Organize
livestream
sales sessions
in 20/2,
30,000,000 ---- 16,890 16,890 ---- 2.37
collaboration 16/3
with KOLs
Phi Vi and
Duc Thuan
Online lucky 23/2 - 2,000,000 ---- 4,546 455 ---- 2.20
draw 25/02
program
 Super Sale
2/3 - 4/3 10,000,000 ---- 122,490 12,249 ---- 1.22
3/3
" Dọn kho"
program
before 10/3 -
8,000,000 ---- 41,747 15,906 ---- 3.14
launching 20/3
new
collection
Run Ads on 140,04
70,000,000 49,985 1,400,420 21,006 15.00
Facebook 2
Run Ads on 137,33
70,000,000 50,970 1,373,357 20,600 15.00
Instagram 6
Run Ads on 142,85
1/4 - 70,000,000 49,000 1,428,571 21,429 15.00
Tiktok 7
30/9
Organize
livestream 30,000,000 ---- 30,000 30,000 ---- 2.00
sales sessions
Loyalty
10,000,000 ---- ---- 3,000 ---- ----
program
Program
talkshow:
"Phong cách
cổ điển - 8/4 20,000,000 ---- 8,000 400 ---- ----
Biểu tượng
vượt thời
gian"
Booking
1/4/2025 -
KOL Phi Vi
30/9/2025 17/4 30,000,000 ---- 2,462,520 24,625 ---- 2.84
product
review
Organize the
campaign
2/5 -
“Phong cách 10,000,000 ---- 30,000 2,100 147 14.29
18/5
cổ điển mùa
hè”
Deploying
the Program
5,000,000 ---- 12,000 1,200 120 8.33
“Bạn Cũ -
Quà Mới”
Launching 10/6 -
the Program 25/6
“Mua Sắm
5,000,000 ---- 15,000 1,500 150 13.33
Cùng Bạn,
Nhận Ưu Đãi
Lớn!”
Booking
24/7 10,000,000 ---- 9,000 9,000 ---- ----
KOL Ông
 chú Polo
(Talkshow)
Promotion
program
4/7 - 7/7 10,000,000 ---- 122,490 12,249 ---- 1.47
"Mùa hè rực
rỡ"
Program
6/8 -
"Chào Đón 10,000,000 ---- 134,739 13,474 ---- 1.48
13/8
Mùa Thu"
Promotion
Program "Lễ
1/9 - 3/9 5,000,000 ---- 15,000 2,250 ---- 4.44
Quốc Khánh
2/9 "
1/10/2025 Run Ads on
- 35,000,000 49,985 700,210 70,021 10,503 15.00
Facebook
31/12/202
5 Run Ads on
35,000,000 50,970 686,678 68,668 10,300 15.00
Instagram 1/10 -
31/12
Run Ads on
35,000,000 49,000 714,286 71,429 10,714 15.00
Tiktok
Loyalty
5,000,000 ---- ---- 1,700 ---- ----
program
Organizing
Workshop
"Thời Trang 7,000,000 ---- 7,487 749 ---- ----
Cổ Điển Cho
Phái Mạnh"
Program
"Classy Club
10/10 - Mua 9/10 -
10,000,000 ---- 141,476 14,148 ---- 1.56
Sắm Cổ 11/10
Điển, Ưu Đãi
Đặc Biệt"
Charity
project
organization: 5,000,000 ---- ---- ---- ---- ----
"Quà Tặng
Yêu Thương"
Halloween 29/10 -
5,000,000 ---- 15,000 2,250 ---- 4.44
Promotion 31/10
Super sale
11/11 " Mua
9/11 -
Sắm Thả Ga, 10.000.000 ---- 149,710 14,971 ---- 1.34
12/11
Nhận Ngay
Quà Khủng"
Organize 11/11 50,000,000 ---- 25,335 25,335 ---- 2.96
livestream
sales sessions
in
12/12
collaboration
24/12
with KOLs
Phi Vi and
Duc Thuan
Program
"Ngày Quốc
17/11 -
Tế Nam Giới 5,000,000 ---- 18,000 3,600 ---- 4.17
20/11
- Tôn Vinh
Phái Mạnh"
Program
"Classy Man
Black Friday
24/11 -
– Mua Sắm 15,000,000 ---- 205,558 30,834 ---- 1.95
29/11
Lịch Lãm,
Ưu Đãi Siêu
Sốc"
Super sale
12/12 "Ưu
Đãi Cuối 10/12 -
10,000,000 ---- 176,930 17,693 ---- 1.41
Năm, Phong 13/12
Cách Cả
Năm
Organizing
the program
23/12 -
"Classy Club 5,000,000 ---- 16,500 2,475 ---- 4.85
25/12
- Giáng Sinh
Ấm Áp"

Table 3.6.8: Expected marketing KPIs for 2025 (Source: Authors, 2024)
CHAPTER 4: FINANCIAL
Cần cho 1 số assumption: vd giả định tài chính trong 5 năm và Chỉ tính toán dựa trên phương
án khả thi nhất (most likely/posibility)
Tỷ lệ lạm phát bn %
Tỉ lệ tăng trưởng doanh thu hàng năm bn %
MKT cost thay đổi qua các năm ntn
Tiền lương nhân viên tăng bn %/năm
Tiền thuê nhà tăng bn % năm
Cost of capital kỳ vọng bn %
….
Based on survey research and months of online business operations in the trial phase, we have
reliable estimates and realistic figures regarding future cash flows as follows: Appendix 4

2.4. Initial Investment

Start-Up Investment (Unit: VND)

Initial Cost of New Assets (CAPEX) 661.273.000
Working Capital Investment 538.727.000
Total Investment 1.200.000.000
Table 4.1. Summarized Initial Investment Source

(Authors, 2024)

2.4.1. Initial Cost of New Assets (CAPEX)

Initial Cost of New Assets (CAPEX) refers to the initial investment in assets and infrastructure
necessary to launch the Classy Club project. The Classy Club project has made a total
investment of 661,273,000 VND in new assets (CAPEX) to build modern and luxurious
facilities. The details are listed on the table below:

CAPEX
No. Item Quantity Cost/unit Total
1 Floor Plan Improvement 1 200.000.000 200.000.000
2 Business license 1 5.000.000 5.000.000
3 Computers 11 10.790.000 118.690.000
4 Office Desks 10 380.000 3.800.000
5 Office Chairs 19 400.000 7.600.000
6 Executive Desks 1 1.800.000 1.800.000
7 Executive Chairs 1 3.738.000 3.738.000
8 Conference Tables 1 9.960.000 9.960.000
9 Projectors 1 23.200.000 23.200.000
10 Water Purifiers 1 4.600.000 4.600.000
11 Cameras (4-eye Set) 2 2.490.000 4.980.000
12 Ceiling Air Conditioners 1 15.100.000 15.100.000
13 Clothes Shelves (Warehouse) 6 690.000 4.140.000
14 Wall-mounted Bookcases 2 870.000 1.740.000
15 Wall Clocks 1 790.000 790.000
16 Mannequins 4 1.660.000 6.640.000
17 Wall Paintings 1 1.040.000 1.040.000
18 Ceiling Lights 1 2.900.000 2.900.000
19 Tube Bulbs 7 875.000 6.125.000
20 Reception Desks 1 2.400.000 2.400.000
21 Sofas (Waiting) 1 2.000.000 2.000.000
22 Mirrors 4 1.581.000 6.324.000
23 Clothes Shelves 10 1.000.000 10.000.000
24 Display Tables 1 3.660.000 3.660.000
25 Tree Lamps 1 3.546.000 3.546.000
26 Fire Protection System 1 10.000.000 10.000.000
27 Air Conditioners 2 5.750.000 11.500.000
28 Rent deposit (3 months) 1 165.000.000 165.000.000
29 Brand Identity 1 5.000.000 5.000.000
30 Other Furniture and Decorations 1 20.000.000 20.000.000

Total CAPEX 661.273.000

Table 4.1.1.Initial Cost of New Assets

Source: (Authors, 2024)

2.4.2. Working Capital Investment

Working Capital Investment refers to the investment in current assets necessary to maintain
the daily operations of Classy Club. We have invested 433,727,000 VND in cash to ensure the
smooth operation of the business and cover the initial operational expenses. Of this amount,
100 million VND is allocated for inventory procurement, and 5 million VND is used for
purchasing initial supplies.

Working Capital Investment

No. Item Total
1 Cash 433.727.000
2 Inventory 100.000.000
3 Supplies 5.000.000
Total Working Capital Investment 605.000.000
Table 4.1.2.Working Capital Investment

Source: (Authors, 2024)

 2.5. Estimated Sale and Cost of Goods Sold

Estimated Sale and COGS

Price per
No Product COGS 2025 2026 2027 2028 2029
Unit
Classic 450.000 168.400
1 2.158 2.697 3.641 4.175 4.672
Trousers VND VND
Classic Suede 299.000 118.400
2 4.323 5.396 7.282 8.367 9.363
Leather Belt VND VND
Classic 360.000 138.400
3 6.419 8.016 10.819 12.428 13.911
Seersucker Shirt VND VND
Classic Crochet 230.000 118.400
4 3.406 4.254 5.737 6.585 7.371
Tank VND VND
Classic Crochet 350.000 168.400
5 3.406 4.254 5.737 6.585 7.371
Shirt VND VND
Classic Linen 260.000 138.400
6 4.323 5.396 7.282 8.367 9.363
Short VND VND
Total Unit Sale 24.035 30.013 40.498 46.507 52.051
7.673.977.000 9.583.094.000 12.931.388.000 14.849.283.000 16.619.457.000
Total Sale
VND VND VND VND VND
3.338.784.000 4.169.329.200 5.625.883.200 6.460.328.800 7.230.468.400
Total COGS
VND VND VND VND VND

Table 4.2. Estimated Sale and COGS - S

Source: (Authors, 2024)

 2.6. Cost Structure
2.6.1. Depreciation expenses

Depreciation of Capital Expenditure Investment (Unit: VND)

Estimated Useful life Salvage Depreciation
Capital assets Cost
(year) Value expenses per year
Floor Plan
200.000.000 5 - 40.000.000
Improvement
Total Depreciation of Capital Expenditure Investment per year - 40.000.000
Table 4.3.1: Depreciation expense - s

Source: (Authors, 2024)

The depreciation cost of the project is calculated using the straight-line method, as per the
government regulations for assets valued over 30 million VND. Therefore, the only asset
subject to depreciation is the Building (Store, Office, and Warehouse), which has a book value
of 200 million VND after the investment made to renovate the initial premises. The annual
depreciation for the project is 40 million VND.

2.6.2. Cash Operating expenses

The Cash Operating Expenses of the project consist of two main categories: Fixed Costs and
Variable Costs.

● Fixed Costs are expenses that remain unchanged regardless of revenue fluctuations.

These costs are essential for maintaining the basic operations of the project,
irrespective of whether the revenue increases or decreases.

● Rental Expense: The rental costs gradually increased over the years due to inflation,

with an annual growth rate of 5%, rising from 660 million VND in 2025 to 802.23
million VND in 2029.

● Internet Costs: The annual fixed cost is 6 million VND.

 ● Utility Costs: Utility expenses (electricity, water, and other services) are expected to

rise in line with inflation and increased usage, growing at an estimated annual rate of
20%, from 31 million VND in 2025 to 63.81 million VND in 2029.

Variable Costs are expenses that fluctuate in direct proportion to revenue. When revenue
increases, these costs also grow, and conversely, they decrease when revenue drops.

● Salary Expenses: This is the largest cost category, growing from 2.023 billion VND in

2025 to 3.883 billion VND in 2029, reflecting the expansion of business operations.
This increase is driven not only by salary hikes but also by the rising number of
employees, from 15 in 2025 to 26 in 2029.

● Marketing Expenses: Marketing costs account for 12% of the total revenue, increasing

from 822 million VND in 2025 to 1.994 billion VND in 2029, illustrating the focus on
enhancing promotional strategies and expanding market reach.

● E-commerce Platform Fees: Fees for e-commerce platforms are projected to rise from

575.54 million VND in 2025 to 1.246 billion VND in 2029, in line with the expected
growth in online sales.

● Commission Fees: Commission expenses are expected to increase from 78.27 million

VND in 2025 to 169.51 million VND in 2029.

● Supplies Expenses: The cost of supplies is set to grow from 14.3 million VND in 2025

to 20.94 million VND in 2029, reflecting an expansion in production.

● Other Expenses: Miscellaneous expenses are expected to fluctuate but remain at a

relatively low level, ranging from 4.29 million VND to 3.21 million VND.

Cash Operating Expense (Unit: VND)

No Expense 2025 2026 2027 2028 2029
1 Rental Expense 660.000.000 693.000.000 727.650.000 764.032.500 802.234.125
2 Internet Cost 6.000.000 6.000.000 6.000.000 6.000.000 6.000.000
3 Utility Costs (Electricity, 31.014.763 37.217.715 44.472.854 53.227.074 63.812.173
 Water,…)
Total Fixed cost 697.014.763 736.217.715 800.533.344 846.792.324 892.603.992
2.023.280.00
1 Salary expenses 2.268.315.200 2.724.774.944 3.262.573.949 3.883.732.623
0
2 Marketing expense 822.000.000 1.149.971.280 1.551.766.560 1.781.913.960 1.994.334.840
3 E-commerce platform fees 575.548.275 718.732.050 969.854.100 1.113.696.225 1.246.459.275
4 Commission Fee 78.274.565 97.747.559 131.900.158 151.462.687 169.518.461
9 Supplies Expenses 14.300.000 15.730.000 17.303.000 19.033.300 20.936.630
10 Other expense 4.290.000 4.719.000 5.190.900 2.925.000 3.217.500
3.583.457.65 4.382.172.45 5.569.940.89 6.535.730.40 7.566.110.92
Total Variable cost
5 8 2 9 8

Table 4.3.2. Estimated Cost of capital -

(Source: Authors, 2024)

2.7. Estimated Income

From 2025 to 2027, Classy Club experienced a remarkable growth rate, reaching 24.88% in
2026 and 34.94% in 2027. This strong growth is typical for a new business in its early stages.
However, by 2028 and 2029, as Classy Club has established its market presence and captured
most of the market share available, the growth rate begins to slow down and stabilizes, with
growth rates of 14.83% in 2028 and 11.92% in 2029.

Alongside revenue growth, costs also increase, particularly Variable Costs, which rise
proportionally with revenue.

In the early years, the Net Profit Margin is quite low, even turning negative in the first year,
due to high initial expenses and revenue not yet reaching the desired level (with a margin of -
0.62% in 2025 and 2.33% in 2026). However, in subsequent years, the Net Profit Margin
improves and stabilizes at a healthy level of around 5% to over 6%, which is considered strong
for a retail business like Classy Club.

Estimated Income (Unit: VND)

2025 2026 2027 2028 2029
Net sale 7.673.977.000 9.583.094.000 12.931.388.000 14.849.283.000 16.619.457.000
Sale Growth 24,88% 34,94% 14,83% 11,92%
COGS 3.338.784.000 4.169.329.200 5.625.883.200 6.460.328.800 7.230.468.400
Gross Profit 4.335.193.000 5.413.764.800 7.305.504.800 8.388.954.200 9.388.988.600
Gross Profit Margin 56,49% 56,49% 56,49% 56,49% 56,49%
Cash Operating expense 4.214.707.603 4.991.432.804 6.178.912.516 7.154.864.694 8.190.245.626
Cash Operating expense
18,43% 23,79% 15,79% 14,47%
Growth
Fixed Cost 697.014.763 736.217.715 778.122.854 823.259.574 872.046.298
Rental Expense 660.000.000 693.000.000 727.650.000 764.032.500 802.234.125
Internet Cost 6.000.000 6.000.000 6.000.000 6.000.000 6.000.000
Utility Costs (Electricity,
31.014.763 37.217.715 44.472.854 53.227.074 63.812.173
Water…)
Variable cost 3.517.692.840 4.255.215.089 5.400.789.662 6.331.605.121 7.318.199.329
Salary expenses 2.023.280.000 2.268.315.200 2.724.774.944 3.262.573.949 3.883.732.623
Marketing expense 822.000.000 1.149.971.280 1.551.766.560 1.781.913.960 1.994.334.840
E-commerce platform fees 575.548.275 718.732.050 969.854.100 1.113.696.225 1.246.459.275
Commission Fee 78.274.565 97.747.559 131.900.158 151.462.687 169.518.461
Supplies Expenses 14.300.000 15.730.000 17.303.000 19.033.300 20.936.630
Other expense 4.290.000 4.719.000 5.190.900 2.925.000 3.217.500
EBITDA 120.485.397 422.331.996 1.126.592.284 1.234.089.506 1.198.742.974
D&A 40.000.000 40.000.000 40.000.000 40.000.000 40.000.000
EBIT = EBITDA - D&A 80.485.397 382.331.996 1.086.592.284 1.194.089.506 1.158.742.974
Operating Profit Margin 1,05% 3,99% 8,40% 8,04% 6,97%
Interest Expenses - - - - -
EBT 80.485.397 382.331.996 1.086.592.284 1.194.089.506 1.158.742.974
Corporate income tax 128.154.986 159.275.391 275.831.708 312.997.500 333.446.688
Net Income - 47.669.589 223.056.605 810.760.576 881.092.005 825.296.286
Net Profit Margin -0,62% 2,33% 6,27% 5,93% 4,97%
Table 4.4. Estimated Income -

Source: (Authors, 2024)

2.8. Estimated Cost of capital

Estimated Cost of capital

No. Item Amount Weight Rate
1 Owner's Contributed Capital 1.159.273.000 VND 100% 10%
2 Debt - VND 0% 0%
 Total Capital 1.159.273.000 VND 100% 10%
Table 4.5. Estimated Cost of capital -

Source: (Authors, 2024)

Since Classy Club is a new venture, it has yet to secure low-cost financing through bank loans.
As a result, 100% of its capital comes from investors and founders. While this drives up the
cost of capital, it also ensures financial stability and alleviates early-stage financial pressures.

The estimated cost of capital is expected to reach 10%.

 2.9. Estimated Cash flow and Financial indicators

Estimated Annual Cash Flow (Unit: VND)

0 2025 2026 2027 2028 2029
START-UP EXPENSE
CAPEX (- 661.273.000)
Working Capital Investment (- 538.727.000)
Net sale 7.673.977.000 9.583.094.000 12.931.388.000 14.849.283.000 16.619.457.000
COGS - 3.338.784.000 - 4.169.329.200 - 5.625.883.200 - 6.460.328.800 - 7.230.468.400
Gross Profit 4.335.193.000 5.413.764.800 7.305.504.800 8.388.954.200 9.388.988.600
Fixed Cost 697.014.763 736.217.715 778.122.854 823.259.574 872.046.298
Variable cost 3.517.692.840 4.255.215.089 5.400.789.662 6.331.605.121 7.318.199.329
EBITDA 120.485.397 422.331.996 1.126.592.284 1.234.089.506 1.198.742.974
D&A - 40.000.000 - 40.000.000 - 40.000.000 - 40.000.000 - 40.000.000
EBT 80.485.397 382.331.996 1.086.592.284 1.194.089.506 1.158.742.974
Corporate income tax - 128.154.986 - 159.275.391 - 275.831.708 - 312.997.500 - 333.446.688
NOPAT - 47.669.589 223.056.605 810.760.576 881.092.005 825.296.286
Plus: D&A 40.000.000 40.000.000 40.000.000 40.000.000 40.000.000
Cash Flow from Operations - 7.669.589 263.056.605 850.760.576 921.092.005 865.296.286
Less: Capital Expenditure - - - - -
Less: Change in Working
- - - - -
capital
(-
Net Cash Flows -( 7.669.589) 263.056.605 850.760.576 921.092.005 865.296.286
1.200.000.000)
Table 4.6.1. Estimated Annual Cash Flow

Source: (Authors, 2024)

 Financial indicators

Year Cash flow Remind cost DISCOUNTED NCF CUMULATIVE NCF

0 -1.200.000.000 VND -1.200.000.000 VND -1.200.000.000 VND -1.200.000.000 VND

1 -7.669.589 VND -1.207.669.589 VND -6.972.353 VND -1.206.972.353 VND

2 263.056.605 VND -944.612.984 VND 217.402.153 VND -989.570.200 VND

3 850.760.576 VND -93.852.407 VND 639.189.013 VND -350.381.187 VND

4 921.092.005 VND 827.239.598 VND 629.118.233 VND 278.737.046 VND

5 865.296.286 VND 1.692.535.884 VND 537.280.915 VND 816.017.961 VND

Estimated Cost of capital 10%

NPV 816.017.961 VND

IRR 26,66%

PAYBACK PERIOD (year) 3,10

DISCOUTED PAYBACK PERIOD (year) 3,56

PROFITABILITY INDEX (PI) 1,68

Table 4.6.2. Financial indicators

Source: (Authors, 2024)

After analyzing and calculating the financial metrics of Classy Club, we have determined that
the NPV stands at 816,017,961 VND after the first five years of the project. This figure clearly
highlights the project's feasibility and significant financial potential. NPV is a critical indicator
in investment analysis, as it measures the present value of cash inflows minus the present
value of cash outflows. A large positive NPV like this demonstrates that our project not only
generates substantial net profits but also exceeds the initial investment costs. This underscores
the project's strong profitability potential and viability over the first five years. A positive
NPV further indicates that the project is likely to recover its capital quickly and yield
attractive returns. With such an NPV, the project is poised to deliver substantial value in a
short period, making it highly attractive to investors and facilitating fundraising efforts. In
conclusion, the NPV of 816,017,961VND after five years of operation is a positive outcome,
reaffirming the project's ability to generate strong profits and its financial viability. This
provides a solid foundation for confidence in the project’s success and profitability. Careful
management and continued development will be essential to ensuring the long-term
sustainability of the value and profits.

The IRR has reached an impressive 26.66%, surpassing the estimated cost of capital of 20%.
This confirms the undeniable potential of the project and further justifies its investment
appeal. IRR is one of the most important metrics in investment analysis, as it measures the
internal rate of return that equates the present value of the project’s incoming cash flows with
the present value of its outgoing cash flows. A high IRR of 26.66% indicates that the project
has an exceptionally high return potential, making it an attractive investment opportunity. This
also suggests that the project can generate significant profits and recover capital swiftly.
Moreover, the high IRR enhances the appeal of the project to investors, as it signifies both
high profitability and a favorable risk-return profile. In summary, the 26.66% IRR is a
remarkable achievement, showcasing the project’s robust financial potential and its capacity to
generate superior returns compared to other investment opportunities. This impressive IRR
increases investor confidence and reinforces the positive outlook for the project’s profitability.
Continued efforts and diligent management will be key to unlocking the full potential of this
promising project.
Additionally, the Profitability Index (PI) stands at 1.68, well above 1, reflecting the project’s
high potential for profitability relative to the capital invested. The Profitability Index assesses
the project's ability to generate returns and helps determine its attractiveness as an investment.
A PI greater than 1 indicates that the present value of the project's cash inflows exceeds the
present value of its outflows, signifying strong profitability potential. A higher PI increases the
likelihood of recovering the invested capital and generating profits, making the project a more
favorable investment option compared to those with lower PI values. A high PI also ensures
that capital is allocated more efficiently to projects with greater returns, maximizing
profitability and minimizing risks. In this case, the project’s PI of 1.68 suggests that it is
poised for profitability and value creation, optimizing investor returns.

The project also exhibits the fastest payback period, with a Payback Period of 3.10 years and a
Discounted Payback Period of 3.56 years. A quick payback period enhances confidence in the
project’s financial viability and attractiveness, indicating that the expected cash flows in the
early years are sufficient to generate meaningful profits and reduce financial risks for
investors. The ability to recover capital swiftly and produce solid returns early on suggests that
the project holds great promise for investors. However, it is essential to consider this metric in
conjunction with other factors, such as NPV, IRR, and Risk Analysis, to fully assess the
project's feasibility and profitability.
CHAPTER 5: CONCLUSION AND RECOMMENDATION
2.10. Risk Management
2.10.1. Supplier risk

In Classy Club's production process, dependence on suppliers can cause some risks. The
quality of raw materials and packaging is an important factor; if the fabric or packaging
material is not up to standard, it will affect the quality and aesthetics of the product, causing a
negative impact on the brand. Secondly, late deliveries from suppliers can disrupt the
production process and cause delays in delivery, affecting customer confidence. In addition,
fluctuations in raw material prices can increase production costs, reduce profits and lead to
price adjustments, which may not be acceptable to customers. Finally, external factors such as
natural disasters, manufacturing defects from suppliers or internal issues such as labor strikes
can disrupt the ability to supply raw materials on time or in sufficient quantities.

Solutions:

● Evaluate and select reliable suppliers: Conduct thorough evaluations of suppliers to

ensure they are capable of providing high-quality fabrics and packaging on time. Sign
clear contracts with specific terms regarding quality, pricing, and delivery timelines.

● Maintain raw material inventory: Establish a system for stocking essential fabrics

and packaging materials to ensure a continuous supply in case of disruptions with the
main suppliers.

● Diversify suppliers: Maintain a list of alternative suppliers who have been carefully

vetted. This ensures that Classy Club has flexible sourcing options in case the primary
supplier faces issues.

● Emergency response plan: Develop a detailed emergency response plan to address

supply chain disruptions, including contingency measures for obtaining materials

quickly from backup suppliers and minimizing delays in production and delivery.

2.10.2. Risks from Production Partners

Outsourcing production can expose Classy Club to several risks. The first risk is product
quality; if the workshop fails to meet quality standards, it will affect the products, leading to a
loss of customer trust. Secondly, delays in delivery can disrupt the production process and
damage the brand’s reputation. Additionally, design security is another risk—if the workshop
copies the design, it could lead to intellectual property theft. Lastly, fluctuations in outsourcing
costs can increase production costs and reduce profit margins.

Solutions:

● Evaluate and select reputable production workshops: Conduct thorough evaluations

of potential workshops to ensure they have strong production capabilities, maintain

high quality, and meet deadlines. Sign clear contracts with specific terms regarding
product quality, delivery timelines, and design security.

● Regular quality inspections: Establish a process for frequent quality checks at the

workshop to ensure that the brand’s standards are consistently met.

● Diversify outsourcing partners: Maintain a list of vetted alternative workshops to

ensure flexibility in switching suppliers if needed.

● Develop an emergency response plan: Create a detailed plan for addressing

unexpected issues with production workshops, including contingency plans and

specific steps to minimize any disruptions to the supply chain or brand reputation.

2.10.3. Risks from Shipping Partners

In Classy Club's operations, partnering with shipping companies can expose the business to
several risks that affect service quality and brand reputation. Late deliveries may lead to
customer dissatisfaction and damage loyalty, while lost shipments during transit can disrupt
services and harm the brand’s reputation. Additionally, the attitude of the delivery personnel is
a critical factor, as poor service can create a negative impression on customers. Furthermore,
unexpected shipping costs or damaged goods during transit can lead to financial losses and
further reputational damage.

Solutions:
 ● Choose reliable shipping partners: Select shipping companies with a strong

reputation for punctual deliveries, quality service, and good customer interaction.

● Implement tracking and communication systems: Use tracking technology to

monitor deliveries and provide customers with real-time updates to reduce anxiety over
delays.

● Establish service level agreements (SLAs): Create contracts with clear terms on

delivery timelines, service quality, and compensation for lost or damaged goods.

● Monitor customer feedback: Regularly assess customer feedback to identify and

address any recurring issues with shipping and delivery peréonnel.

2.10.4. Legal Risks

In Classy Club's operations, legal risks can affect the brand’s reputation and stability. One
major risk is copyright infringement. If the brand’s designs or products are copied or violate
third-party intellectual property rights, it may result in legal disputes and compensation claims.
Additionally, breaching contracts with suppliers or production workshops could lead to
financial losses and damage relationships, further affecting the brand’s credibility. Finally,
non-compliance with local laws, such as labor regulations or environmental standards, could
lead to fines and reputational harm.

Solutions:

● Conduct thorough legal checks on contracts and partnerships.

● Ensure protection of intellectual property through copyright and patent registration

when necessary.

● Fully comply with labor regulations and legal standards related to production and

business operations.

● Ensure tax compliance and fulfill financial obligations on time.

 2.10.5. Inventory and Obsolete Goods Risks

Classy Club finds inventory and obsolescence management a major challenge. Although
classic products have a long life cycle and are durable, customer demand can change. Without
effective inventory control, brands can end up with excess inventory when products are no
longer desirable, increasing storage costs and having a financial impact as capital is locked up
in unsold inventory. Long-term storage can also reduce product quality, making it difficult to
sell at a good price. To clear inventory, Classy Club may have to reduce prices, affecting
profitability and brand image. Obsolete inventory also hinders the import of new products,
reducing the ability to adapt to changing customer demand and losing a competitive advantage
in the fashion market.

Solution:

● Implement advanced inventory management technology: Use ERP software to

track inventory in real-time and provide alerts when products have been in stock for
too long or reach maximum levels.

● Analyze data and forecast demand: Utilize sales data and consumption trends to

develop accurate purchasing plans and adjust inventory in line with market demand
and seasonal variations.

● Develop flexible sales policies: Launch promotional campaigns, seasonal discounts,

and flexible return policies to boost the sale of excess inventory.

● Adjust product portfolio flexibly: Update and refresh classic products, adding new

items in line with trends to maintain appeal and meet customer demand.

2.10.6. Risks related to social media platforms

Classy Club recognizes that relying on social media platforms such as Facebook and
Instagram for sales can pose several significant risks. First, the account or sales page may be
suspended or deleted, disrupting sales activities and negatively impacting revenue as well as
brand reputation. Second, changes in the policies of these platforms may lead to violations,
restricting customer relations. Additionally, cyberattacks could expose customer information,
causing security breaches. Furthermore, changes in the algorithms of these platforms may
reduce organic reach, forcing Classy Club to increase its budget for paid advertisements.

Solution:

● Account backup and security: Implement robust security measures such as two-

factor authentication (2FA) to protect accounts and mitigate the risk of hacking.

● Compliance with platform policies: Continuously update and adhere to the policies

and regulations of social media platforms to avoid violations.

● Diversify sales channels: In addition to selling on social media, Classy Club will

develop a website and utilize other e-commerce platforms to reduce reliance on a

single channel.

● Monitor and manage reviews: Regularly track customer feedback and reviews,

addressing negative comments promptly to maintain a positive brand image.

● Build a flexible advertising strategy: Adjust advertising budgets and communication

strategies based on platform algorithm changes and market conditions.

2.10.7. Financial Risks

Operating a brand like Classy Club involves facing various financial risks. Despite having
detailed plans for necessary expenses, Classy Club may still encounter unexpected costs such
as office and warehouse maintenance, repairs, rising labor costs, or fluctuations in raw
material prices. Additionally, outsourcing production could result in unplanned expenses.
Furthermore, delayed or non-payment from customers can create financial challenges,
especially in the early stages.

Solution:

● Cash Flow Management: Closely monitor income and expenses to ensure sufficient

financial resources to maintain operations and respond to unforeseen situations.

 ● Financial Planning: Develop contingency plans for unexpected costs and identify

potential cost-saving measures. Regularly review budgets to adjust for any changes in
operational needs or market conditions.

● Payment Terms and Collection: Establish clear payment terms with customers and

implement an effective system for monitoring and collecting overdue payments to

maintain a steady cash flow.

● Cost Control: Regularly assess and optimize expenses, including outsourcing

contracts, to minimize unexpected financial burdens.

2.10.8. Customer Risks

Customer satisfaction plays a crucial role in maintaining the reputation and growth of Classy
Club, especially in the classic fashion industry. Risks can arise when expectations regarding
product quality, customer service, or return processes are not met. Negative reviews from
customers on online platforms can damage the brand image and reduce trust from potential
customers. Additionally, online businesses face the challenge of managing customer
expectations regarding product color, material, and design.

Solution:

● Ensure quality and accurate descriptions: Thoroughly inspect products before

shipping to ensure the correct size, color, and material. Provide clear, accurate
descriptions and images, possibly including detailed videos to enhance customer
understanding.

● Develop an efficient return policy and customer service: Streamline the return

process to make it simple, clear, and easy to understand. Establish a professional

customer service team to handle complaints quickly and maintain strong relationships
with customers.

● Implement a loyalty program: Launch discount programs and gift offers for loyal

customers, and foster community engagement through social media channels.

 ● Collect and respond to customer feedback: Gather customer opinions through

surveys and reviews, ensuring their concerns and suggestions are addressed promptly
to improve overall customer satisfaction.

2.10.9. Risks from Competitors

Classy Club faces strong competition in the classic fashion market, where competitors can
replicate the brand's designs, styles, and marketing strategies. When competitors release
similar products at lower prices, Classy Club may lose customers, as consumers often prefer
products of equivalent value but at more affordable prices. Large competitors with strong
financial resources can also easily launch large-scale marketing campaigns, making it difficult
for the brand to maintain its market share. Competition becomes even fiercer as new brands
with unique styles and modern approaches attract younger consumers, diminishing the appeal
of classic products.

Solution:

● Create unique differentiation: Focus on product quality, classic style, and

sustainability. Develop exclusive designs and premium materials to stand out.

● Innovate marketing strategy: Utilize social media and digital channels to promote

the brand, collaborate with influencers in the fashion industry to attract attention.

● Enhance customer experience: Improve the online and in-store shopping experience,

upgrade the website interface, optimize delivery processes, and provide high-end
customer service to boost customer loyalty.

● Monitor competitors: Assess competitors' strategies and trends to adjust our own

approach and maintain a competitive advantage.

2.10.10. Fire and Natural Disaster Risks

Fire and natural disasters can cause significant damage to Classy Club, including property
damage, operational disruptions, and inventory losses in warehouses. These events not only
threaten the lives of employees and customers but also lead to substantial financial losses,
affecting the long-term sustainability of the business. Having warehouses and offices also
increases the risk of facing emergency situations and disasters.

Solution:

● Comprehensive insurance: Ensure fire and natural disaster insurance to protect

assets.

● Emergency plan: Develop and regularly update an emergency response and

evacuation plan for warehouses and offices.

● Safety inspections: Conduct regular safety checks to identify potential risks.

● Employee training: Train employees on emergency procedures and the use of fire

safety equipment.

● Fire safety equipment: Install fire alarms, fire extinguishers, and sprinklers in

warehouses and offices.

● Backup systems: Ensure backup of critical data and maintain operations in case of

emergencies.

● Location assessment: Choose locations with low risks of natural disasters.

2.11. Future-plan

● Medium-term (First five years)

Our objectives for the first five years
Classy Club aims to become a leading name in classic men's fashion in Hanoi within the next
five years. Our mid-term vision focuses on building a strong foundation for sustainable growth
by prioritizing brand recognition, expanding e-commerce capabilities, and optimizing
operational efficiency. By diversifying our product offerings, enhancing marketing efforts, and
managing finances effectively, we aim to strengthen our market position and deliver a
premium customer experience.
 Products and Services Marketing Finance

Product Diversification: Social Media Promotion: Cost Management: Track

Expand product lines to Continue to grow Classy and optimize manufacturing,
include luxury apparel, casual Club’s presence on Instagram, logistics and operational costs
apparel and accessories, Facebook, and Tiktok to to maintain profitability while
focusing on premium showcase the brand’s classic delivering premium products.
materials and timeless appeal.
designs.

Personal Styling: Offer Influencer Partnerships: Invest in Ecommerce: Build

personal styling consultations Partner with fashion influences a robust online store and
(both online and in person) to to increase reach and enhance invest in digital infrastructure
increase customer loyalty. brand awareness. to streamline the customer
shopping experience.

Exclusive Collections: Pop-up events: Host pop-up Investment

Introduce limited edition stores or exclusive launches in Opportunities: Explore
collections to increase brand major cities to attract new partnerships or seek external
exclusivity and appeal. customers and create a buzz for funding to support marketing
your brand. plans and business expansion.

Open physical stores: Open Loyalty Program: Implement Optimize operations:

the first Classy Club store in a rewards program to Regularly analyze sales and
Hanoi to establish brand encourage frequent purchases customer feedback to improve
presence and interact directly and foster long-term customer products and processes for
with customers. Then expand relationships. maximum efficiency and
the network of stores in profitability.
Hanoi.

Table 5.2.1. Future plan for Classy Club’s in 5 years

(Source: Authors, 2024)

● Long-term (10 years)

Classy Club envisions becoming a top brand in the classic fashion industry in Vietnam, with
global expansion. Our long-term strategy emphasizes global growth, sustainability initiatives,
and financial stability to position Classy Club as a leader in timeless fashion. By diversifying
services, refining operations, and establishing an international presence, we aim to remain
relevant in the ever-evolving fashion industry while maintaining our commitment to quality
and sustainability.

Products and Services Marketing Finance

Expand related product Domestic Brand Strategy: Sustainable growth in

lines: Enhance exclusive Position Classy Club as a domestic market: Maintain
accessory products such as classic fashion icon of stable growth through
watches, ties, handbags and Vietnam. product expansion and cost
classic shoes. optimization.

Premium Service: Launch Expanding community Opening stores in major

the "Classic Tailoring" service events: Organize classic cities: Open stores in
– custom design and premium fashion exhibitions in major centers such as Ho Chi
customer care. cities such as Ho Chi Minh Minh City and Da Nang
City and Da Nang to increase after stabilizing operations
brand visibility. in Hanoi.

Sustainability: Increase the International Promotion: Strategic Contingency

use of eco-friendly materials Gradually participate in Fund: Maintain a reserve
and reduce waste in fashion trade shows in capital to support domestic
production. Southeast Asia to test small- and international expansion
scale exports. plans.

Upgrading production International Cooperation: Investment in Research &

technology: Apply new Sign partnership agreements Development: Allocate
technologies to ensure with major partners and resources to study new
product quality meets distributors in various fashion trends and develop
international standards while countries to establish an products that cater to
minimizing environmental effective distribution international tastes.
impact. network.
Table 5.2.2. Future plan for Classy Club’s in 10 years

(Source: Authors, 2024)

 2.12. Conclusion and Recommendations
2.12.1. Conclusion

Classic-style men's fashion brand Classy Club is gradually penetrating the Vietnamese market
- where competition is fierce from both domestic and international brands. Although the
classic fashion market in Vietnam is not as popular as other modern fashion styles, this creates
an opportunity for Classy Club to affirm its position in a specific niche market, attracting
customers who love timeless elegance.

Currently, e-commerce in Vietnam is growing strongly, especially in the context of increased

demand for online shopping after the pandemic. However, not owning a physical store
requires Classy Club to focus on building a strong brand image on the online platform and
ensuring comprehensive customer experience, from the product selection process to the
delivery stage.

In addition, the biggest challenge is how to attract and retain male customers - a group of
customers who often spend less time shopping for fashion than women. To overcome this,
Classy Club needs to not only create quality products but also bring different values through
attentive customer care and creative, meaningful content. With the development of the middle
class and increasing interest in personal style, the classic men's fashion market in Vietnam is
still a land full of potential. Classy Club can take advantage of this to develop into a
prestigious brand, meeting the needs of customers who love classic, elegant and timeless style.

2.12.2. Recommendations

Classy Club remains dedicated to maintaining and effectively executing our business plan to
ensure seamless alignment with the brand’s commitment to classic menswear. We will
regularly review and adjust our business strategies to keep pace with changing tastes and high
expectations of our customers while maximizing our operational efficiency. Customer
feedback is extremely important, as it provides invaluable insights to refine our product range
and enhance the quality of our service. Going forward, Classy Club will prioritize specific
projects that will enhance the craftsmanship and usability of our vintage-inspired collections,
while implementing process improvements across the product range. These efforts are
designed to enhance customer satisfaction and reinforce Classy Club’s position as a leader in
classic menswear, ensuring that both our brand and our business continue to thrive at the
highest level
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