New Look, Inc.
Ownership & Structure
New Look was founded as a Tennessee C-Corporation with principal offices located in Memphis, TN. All operations, from administration to marketing strategies, take place at this leased office location of approximately 500 square feet.
We brought our sales up to $3 million last year, with a 25% gross margin, but no profits. That gross margin was way below industry averages for good reasons as we ramped up, and we project an industry-standard gross of 50% for the future.
New Look products will be priced at the high end to reflect the quality and exclusiveness associated with the brand. The company will use high-end materials such as cashmere, a wool blend, and high gauge denim. When a mark up is placed on New Look products, customers are willing to pay the premium because of the perceived value and quality guarantee that comes with all products. The New Look line is targeted at males between the ages of 20 and 40.
The company’s management philosophy is based on responsibility and mutual respect. New Look has an environment and structure that encourages productivity and respect for customers and fellow employees.
|Marketing team (2.83)||$72,000||$149,760||$207,668|
|Assistant Store Manager||$38,400||$39,936||$41,533|
|Retail clerks, cashiers, etc. (3)||$48,000||$74,880||$103,832|
|Admin team (1.14)||$11,000||$27,456||$57,108|