Friday, February 27, 2015

Launching & Introducing - 24Fabulous

One of my goals for 2015 was to launch a mystery project to be completed by this year. Back then, I was not sure if this was going to be successfully launched and implemented by this year as I was busy completing my MBA program. There were also simply too many unknown factors and draggy questions to consider which takes plenty of time and resources. Though, I am glad that we went ahead with the project and decided to launch it successfully yesterday. 

Introducing 24Fabulous – Your one-stop online fashion destination catered to women’s apparels for fast fashion.




First off, a little bit of the background on why we decided to name it as 24Fabulous. We all know that all women love to dress up and make themselves look pretty, either for a casual or special occasion. The idea of 24Fabulous is to address the needs of women who wants to look fabulous 24/7 considering the price that one has to pay for that value she is looking for. Similar to a value investing concept, we focus on creating value rather than paying a premium price for a lower value.

The co-founder for the business was mainly administered by my wife and her sister who went ahead with the launching for both Singapore and Indonesia. Being here, my wife will handle the Singapore accounts while her sister will handle the Indonesia accounts. As providers for seed capital funding and a person numbers, her brother in law and I will be mainly handling the finances and working capital for the business. 

I have come across and analysed hundreds of companies in my investing journey, but setting up one on your own from the scratch is a totally different story altogether. Many times what we see from the customers or investors point of view is the end product but what goes through the initialization, production and stabilization are the hardest to handle. Through this experience, we have learnt many new skills and knowledge that has never been exposed to us in our normal daily lives. I did come across many of the concepts during my time studying the MBA but doing it altogether is an entirely new and exciting experience, which will increase our awareness as we move forward. For example, working with designers and suppliers or contemplating the pricing and profit sharing agreement are all practical concepts that has to be dealt with in the preparation mode. 

Some of you might know that my wife has resigned from her corporate role to become a stay home mummy. With the new business, I think she'll get her hands on both the business and taking care of our little one. I think it'll benefit everyone in the process so I am happy to see that being pushed through.

So that's it, thanks everyone for the support and don't forget to recommend it to your friend.

:) Much Appreciated :)

Facebook: https://www.facebook.com/24fabulous
Instagram: 24fabulous
Line: 24fabulous
Whatsapp: +6593874016 (Singapore) / +6281294117902 (Indonesia)
Email: shop24fabulous@gmail.com


15 comments:

  1. Replies
    1. Hi Henry

      Thanks for your well wishes.

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  2. Congrats, this will be a new journey for your wife and you! All the best to your new "baby". Some of my peers have also taken the plunge to do their own business.

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    Replies
    1. Hi RetailTrader

      Thanks for your well wishes.

      I am still holding on to my job and doing investing on shares and other areas, so I will leave most of the operational business to my wife to handle. I'll probably act more as an advisor to the business ;)

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  3. Great start up! Wishes you and your partners had a great and successful venture.

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    Replies
    1. Hi David

      Thanks for your very well thoughts and wishes :)

      Delete
    2. Hi David

      Thanks for your very well thoughts and wishes :)

      Delete
  4. Hi B,

    Wish u and business partners all the success in the start-up. It's CNY so 生意兴荣。

    But the facebook link don't really work lei, not sure if I am the only one having the problem? I try searching 24fabulous in the search engine also can't find...

    I believed the experince is really a win win situation!! Your wife will not feel that the world just revolve around the kids and your business acumen will sharpen!

    ReplyDelete
    Replies
    1. Hi SI

      Thanks for your well wishes :D

      I rechecked the fb link and they are working, maybe there's a glitch earlier on.

      There's so much learning points along the way as we venture. I'll leave most of the operational part of the business to my wife to handle, so I'll mostly be the adviser behind to suggest any improvements.

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  5. B,

    You may want to consider setting up a free Blogger website too.

    This way, when the business grows, you can transfer the database onto a paid domain of your own (when you need to protect your branding and have more control over the content).

    Unless of course you want to work with Facebook exclusively ;)

    Cheers and congrats!

    ReplyDelete
    Replies
    1. Hi SMOL

      Thanks for the feedback.

      We are in the midst of launching the website also so that's a step in the process. I don't know if facebook is the right platform to reach that many audience for this type. I think instagram works better in this case. But we'll have to see in a while after a couple more weeks/months.

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  6. When Business begins. More huat years!

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