Cheryl Nordyke

Derry, NH (USA)
Role(s):
Founder/Owner/Principal

Wavelet Production

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Location: Derry
Industry: Retail/Clothing
Year Founded: 2007
Number Employees: 1-10 people
Description: 1.0 Executive Summary While inspirational, spiritual, and similar jewelry and apparel lines are abundant, products most often lack unique designs or quality manufacturing. Wavelet Productions, LLC (d.b.a. “Waves of Gratitude Jewelry and Apparel” and also referred to as “Waves of Gratitude” and “the Company”) is an existing online retailer of high quality inspirational jewelry and apparel. The Company’s name is already trademarked, and its jewelry pieces are all copyrighted. Its proprietary designs were created by the Company’s management and are exclusive to Waves of Gratitude’s catalog. The Company’s designs span a wide range of related dynamics, such as religious, spiritual, eco-friendly, message, inspirational, gift, and more. It has two specialized lines of jewelry – Create a Wave and Branches of Hope – both of which offer customers unique ways to customize their pieces and purchases. By operating as an e-commerce website and outsourcing fulfillment, manufacturing, and customer service, the Company benefits from low overhead and enhanced focus on product design and quality. Jewelry includes pendants, bracelets, and necklaces, and apparel and accessories include shirts, hats, bags, mugs, and more. As it expands, Waves of Gratitude plans to add a number of new items to its product line, including journals, pens, business card holders, and calendars. Although growth slowed during the first quarter of 2008, the jewelry industry has since picked up speed. The market as a whole was valued at $63 billion in 2006, and online jewelry sales climbed 20% to reach $2.45 billion, or 3.9% of the total market. The U.S. Department of Commerce expects online sales to account for 8.1% of all jewelry sales by 2010, and jewelry and watches already constitute one of the fastest growing segments of all online retail during the holiday season. Gift giving is also a large market, generating 10% of sales in the $3 trillion consumer retail market. In addition, the 66% of Americans who are active online searchers and shoppers – as well as projected online spending of $334.7 billion by 2008 – creates a potentially lucrative market for Waves of Gratitude. The Company primarily targets women (85%), with a smaller demographic of men (15%). Typical customers earn $50,000 or more per year and are between the ages of 21 and 50. It operates primarily in the $27.7 billion Jewelry Retailers industry, in which individual establishments earn incomes of $600,000 per year. Direct competition comes from Gratitude Jewelry Company, Gratitude Collections, and Transformational Jewelry, though none offers exceptional products regarding quality and design. To strengthen its brand name, Waves of Gratitude will implement a calculated marketing plan, including a public relations strategy that will effectively leverage media opportunities. First and foremost, the Company will work aggressively with an ad agency to increase brand awareness and bring notice of its unique designs to multiple niche markets. Secondly, the Company will continue to use viral and Internet marketing to fuel growth such as e-mail blasts, Internet advertising mechanisms, a comprehensive website, a presence on social networking websites, and social media optimization. Other advertising tactics will include television commercials, corporate sales channels, promotional offers, brochures, independent sales representatives, and print media saturation. Its extensive public relations strategy will focus on building a positive name and image, resulting in increased sales and a stronger reputation. For this strategy, Waves of Gratitude will produce press releases on a regular basis to obtain favorable publicity among the media and its target audience. Through these varied methods, Waves of Gratitude intends to prompt greater awareness of its brand and products in the marketplace. Cheryl Nordyke, Kim Wierman, and Carrin Torres currently own and operate the Company. All members of the management team possess extensive experience and in their chosen fields. For detailed biographical information, refer to Section 5.0: Management Summary. To achieve the Company’s objectives, Wavelet Productions, LLC is seeking $850,000 through outside investment.