By 2030 Coolmate will become an iconic fashion brand of Vietnam, leading in the domestic market, and expanding globally with the help of outstanding supply chain power, deep application of technology and data, as well as the ability to strongly connect with customers.
- Revenue growth reaches an average of 50% per year with 2030 revenue target of $500M, EBITDA stays above 10%, valuation reaches 1 Billion USD ( Unicorn) in 2030.
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To become a leading player in the fashion industry of Vietnam.
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To diversify consumer choices: Apparels, Footwear & Shoes, , Accessories.
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To launch an offline distribution channel with a NEW and more efficient model than traditional retail which expect to occupy minimum 40% total company sales in 2030.
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To expand into the South East Asia and US markets with an expected revenue to take up 30% of the whole company’s.
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Extend Customer Segment to women and kids, which is expected to occupy for 40% of revenue in 2030.
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To Commit investing more on Product Innovation & Production Optimization to bring about a more sustainable future.
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To continue to prioritize the quality of life for Coolmate’s employees, Production Partners' workers and then return to investors and value to the community.
IN MORE DETAILS
PRODUCT & SUPPLY CHAIN
Not only does Coolmate have the ownership of the product but it will also set up its own supply chain with mainly control in detail of every steps from R&D, Design, Technical Design, Sampling, Costing, Mass Production, QA-QC, Logistics... This is the foundation on which Coolmate will implement Innovation, Optimization and Quickness in Product Development & Production. It will make sure that Coolmate can serve better customer’s demands nowadays. Coolmate’s supply chain and manufacturing capabilities include:
1. Coolmate’s Team
Focus on hiring people with experience working in large factories and/or international brands to join the Coolmate team to ensure the compliance of manufacturing process at factories as well as the outcome product' quality and a low-rate error.
Always on support our associates in each of the six critical areas of managing (Recruit>>Onboard>>Prioritize for impact>>Empower and inspire>> Develop with intention>>Transition) is pivotal to shape their experience, feel confident in the role, ultimately succeed and strengthen their connection with Coolmate.
We have an incredibly exciting future ahead, build on our core strengths. We are one team and together we are co-creating the next growth chapter of Coolmate.
2. Partners in the industry
Connect and work with partners who are Competent, Reputable and Compatible. The factory's capacity and capabilities is evaluated based on its profile of having worked with major brands and customers and meeting the Audit standards of the Coolmate team. Most factories have large scale, systematic processes, and experience in manufacturing for major brands in the world. Factories need to be compatible in the way they work, which will be evaluated by the willingness to support, accompany and share from the Management team (Preferably from the Director and/or Owner of the factory).
Coolmate aims to build strategic relationships with partners, aiming for a Win-Win, long-term relationship. The partner will be the person who gives Coolmate ideas for product development, accompanies the product development process and carries out the production of the final product.
Coolmate will develop the production supply chain from yarn, fabric, garment and accompanying accessories. All components are subject to thorough quality control standards.
3. Procedure & Manual
The Comprehensive Supplier Package including Supplier Agreements, Quality Manual, Good Manufacturing Practice, SOPs, Flow Charts, Set standards, Block Pattern and size charts library, Product Testing, Supplier Audits… be applied for all suppliers to ensure Coolmate’s supplier will conduct its business in compliance with the moral, ethical and legal standards set forth, core international labor standards and national labor law, product and process compliance.
The Quality Dashboard, Supplier Score Card issued by monthly and quaterly to our suppliers and BOD, to provide Progress to date against targets, improvement areas and upcoming plan.
For new on board supplier: New vendor audit to select qualified supplier. Sign off supplier agreement, the onboarding program be introduced, trained and sign off will provide our supplier clear expectation and minimize quality and productivity risks.
Annual Vendor Assessment on full aspects (ISO 9001, OTD, COST, Availabilities, Compliance) with vendor rating, will support supplier to know where they are, focus areas, continuous improvement and sustains vendor performance.
For Strategic suppliers- we are building key projects to work with supplier closely and unlock our full potential in our supply chain.
This is where Coolmate really stands out from others. The clear target and comprehensive processes with international standards are thoroughly applied to the team's operations to help bring practical benefits in terms of quality, product proficiency, Leadtime and cost in production compared to competitors.
4. Supply Chain
Coolmate is working point to point with few better strategic players with Strategy Prioritization: tackle big things first, which are frame around key supply chain value drivers:
- Product Excellent by continue to drive high out-going quality level % and acceptance quality level result.
- Continue to build and strengthen Supply chain capabilities, Enabling Speed and Agility to maximize availability by continue to drive high OTD result KPI, reduce lead time through production, transit, invest in planning capability.
- Optimize cost through tackle proving cost visibility and accuracy, drive material strategy.
- Upskilling and empowerment supplier through trainings on quality, process, technical guidance topics.
- Driving sustainability in materials development.
- Coolmate host the scheduled meeting with our supplier and it is great opportunity for Coolmate to connect with our supply partners across region. A wealth of information be shared on key learnings from unprecedented challenges and our plans for the future growth of our business. We also shared our vision and outlines of path to drive sustainable together, win with our products, the priorities for Coolmate for next growth chapter and defined supply strategies to fuel this growth:
Brand relevance has never been more important and that starts with the product. Focus on product excellent through great material, smart design and best execution. - Our structure give us the ability to take more localized approach and advantage.
- By leveraging data driven, automation and innovation across supplier end to end so that we can respond quickly to demand, reduce lead times, reduce risks, better planning and make more intelligent decision base on real time information.
R&D
A material library per product category be updated regularly. Sourcing team connect with our supplier partners, work with supplier on innovation, new designs and R&D activities.
A block pattern and model measurement designed follow Vietnamese body shape and update regularly to ensure best shape are applied.
Updated thread performance and cut seam execution by connection with threads, needle supplier to bring best ISO stitches/seam quality and fit with each type of materials.
By working on productivities and best execution, R&D team is continuously provide best practice sharing among Coolmate T1 suppliers, bring new templates, automation and innovation in sewing execution.
R&D Department’s is continuously improvement and enhance the product lab testing capabilities by: target to complete full In-House Lab foundation testing, specialty and advance Lab testing for sportwear and underwear product category. We are also plan to train our supplier to have in-house lab testing with full foundation testing in place.
By building the R&D department to investing on Product development from Material, product studying, design, lab testing, Fit and Wear Testing. The holistic processes to provide full pictures from ideas, designs to product execution. Wear Testing with true environment/ activities/ product wash/ care on each product category from professional testers on our new design materials, Product functions and shapes. The Professional Tester also be trained prior selected to be Coolmate tester. Those product wear experiences, favorite aspects from testers of are one of major to our products become one of iconic brands with highest performance.
CREDIBILITY OF BRAND
Coolmate will position itself clearly in becoming a major apparels brand Made in Vietnam, Made by Vietnam, Made for Vietnam & The World, with core values including:
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Good quality shown through comfortable & functional materials and well finishes
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Design with a focus on comfort and high practicality
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Cater to a wide range of needs: Inner, Work, Casual, Party, Sport.
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Offer valuable products in the same price range, value for money
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Strong Connecting with Customer in Multi Channel.
According to 2024 and 2025 growth forecast, Coolmate will focus on 2 lines of products, Sportswear and Casual Wear.
Coolmate will increase 50% of its resources for branding activities compared to 2023, concretized by building an in-house branding team, and implementing branding activities both online and offline channels. Branding activities will stick to the core values of the brand as well as connections with customers.
CUSTOMER EXPERIENCE
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Increased connectivity and communication with consumers
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More promotional & experience deals through a loyalty program
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Personalize experience through the use of CDP system
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WOW Customer Service with policy commitment of 60 days for free return & refund.
A great online shopping experience is one of the reasons why Coolmate has grown so much, and this will continue to be a value to be invested in and reinforced in 2024 and 2025. Coolmate will strengthen more connections with customers with the main focus of Customer Loyalty program names CoolClub.
There will continue to be more incentives and increased experiences for Coolmate customers and employees in 2024 and 2025 in terms of both scale and quality.
