Asia Pacific Journal of Research in Business Management Vol. 8, Issue 7, July 2017 Impact Factor: 5.16, ISSN: (2229-4104) www.skirec.org Email Id: skirec.org@gmail.com FAREEDA GLOBAL RESOURCES: LEADING & MANAGING STRATEGICALLY Yusnida Ramali Universiti Tun Abdul Razak - UNIRAZAK, Malaysia M. S. B. Siddiq Universiti Tun Abdul Razak - UNIRAZAK, Malaysia ABSTRACT: Fareeda is a significant player, and it is a reknowned brand for the number one exclusive scarves in Malaysia. Fareeda Global Resources Sdn Bhd (1024533-A), the company was founded by Puan Faridah Zakaria. Since 2006, Fareeda has become an established Malaysian brand of high quality scarves with various designs. All Fareeda scarves are registered under the Intellectual Property Corporation of Malaysia (MyIPO), and are protected by the Copyright Act 1987. Fareeda Global Resources does not hesitate to take legal action against those who commit the copyright infringement. Fareeda aims to attract women regardless of age to wear scarves in a proper way by following the Al Quran and As Sunnah. Heeding the call of Islam, 90% source of income is through business and to provide opportunities for entrepreneurs Islam (SMI) who are competent and able to compete. Through this paper, it has been endeavored to explore the entrepreneurial case of a new venture, and to review its performance from divergent angles by conducting sistuation analysis, studying the distinctive features of target market, and evaluating the managing process, leadership style, and strategic perspectives. KEYWORDS: Scarf Marketing, Differentiation, New Venture, Situation Analysis, SWOT, Target Market, Blue Ocean Strategy, Competitor Analysis CASE PERSPECTIVE: This case has been developed as a basis for academic discussion for exemplifying the issues and perspectives of managing, leading and strategizing rather than to illustrate either effective or ineffective handling of any business or management situation. It is based on the information publicly available through company reports, brochures, pamphlets, leaflets, newspapers, magazines, websites, or other such material. It should not be viewed as a typical business case, but rather an insightful and comprehensive elucidation of what we expect the students of a management program to understand appreciate and demonstrate when they review, analyse, and discuss a highly competitive environment from the standpoints of leaders of a corporate enterprise. An International Double-Blind, Peer Reviewed, Refereed Open Access Journal - Included in the International Indexing Directories Page 108 Asia Pacific Journal of Research in Business Management Vol. 8, Issue 7, July 2017 Impact Factor: 5.16, ISSN: (2229-4104) www.skirec.org Email Id: skirec.org@gmail.com INTRODUCTION Founded in 2006, Fareeda Global Resources Sdn Bhd aspires to become a creative driving force within the fashion industry in Malaysia by producing high quality, elegant and fashionable scarves. It aims to become a famous Muslim clothing boutique and a role model to other boutiques. It aims to rapidly grow in the arena of international business. It has been striving to achieve it through creative scarves design, modern and up-to-date management, great customer services and superb quality of products at an affordable price. It is known for using high quality fabrics, exclusive designs of the scarves and beads and embroidery, and for providing exclusive services and the best patterns and the latest designs. Its business is targetted at women, especially Muslim, who are concerned with the appearance of sleek and stylish but still adhere to the Islamic dress - norms. In 2006, Puan Faridah Zakaria and her husband Encik Aminuddin Basirron harboured bigger dreams, driven in part by a desire to achieve, to be successful. They were living in Penang, with Aminuddin holding a comfortable post at a local statutory agency. They used to read other people s su ess stories all the time. Reminiscing how they felt a persistent urge to go into business. That desire has led the couple down several business ventures, though Aminuddin was a full-time employee at the time, Faridah handled most aspects involved. Among others they tried going into food and beverage and even ope i g a o e s spa. But business was difficult, in part due to tough competition. While they were doing okay, things ere t so profita le. The o e da A i uddi ade a suggestio to his ife that ould later change their lives. Aminuddin noticed that his wife had some sewing talent as her mother was a tailor. He appreciated her talent of creativity, and decided to change the business, by doing something which she likes and has ideas about. At a time when custom-designed tudungs (scarves) have yet to catch on, Faridah designed her own tudungs and made them herself. By April that year, the ega selli g the first at h to fa il response by mid- 6 e ers, frie ds a d A i uddi s o-workers. The as e o d their e pe tatio s. Fareeda s li e of tudu gs gained a growing following, relying on word of mouth from satisfied buyers. Not long after Aminuddin transferred back to Selangor in mid-2007, they began taking formal distributors of Fareeda tudungs in states outside of the Klang Valley like Pahang, Kelantan, Johor and Sabah. Their philosophy is simple - to make the product unique, elegant and exclusive with a distinctive designs for their customers. Fareeda Global Resources, driven by 300 employees, with eight stores across Malaysia, has managed to attract revenue of RM30 million per year. The scarves, designed and produced by the venture are not commonly available scarves sold in Jalan Tuanku Abdul Rahman in Kuala Lumpur or the night markets (Pasar Malam) that can only be acquired at a price of RM 5 each. Theirs is a ready-made An International Double-Blind, Peer Reviewed, Refereed Open Access Journal - Included in the International Indexing Directories Page 109 Asia Pacific Journal of Research in Business Management Vol. 8, Issue 7, July 2017 Impact Factor: 5.16, ISSN: (2229-4104) www.skirec.org Email Id: skirec.org@gmail.com scarf made of chiffon and lycra with high quality yet comfortable and cool to wear. Only the best materials are used to produce Fareeda scarves. The customers testimonials are full of praise and appreciation; those who wear the Fareea scarves are fully satisfied with the design, color scheme, comfort, elegance and beauty. Fareeda scarves design that yields not only high quality, but has gained brand image at a very fast pace. Women in scarves can still look elegant if they are good at choosing scarves, styles and accessories. In fact, the scarf pattern and style have shown significant changes to highlight the femininity of the wearer. For most women, the scarves are not just to put it on and enrich the brooch on the shoulder or below the chin. It requires technique that will enhance the looks and be stylish. Therefore, to appear different, Fareeda scarves branding will give 'a new face' to women because it is easy to fit and be worn either on casual or formal occasions. As a results of creativity by Fareeda House of Scarves owner, Faridah Zakaria, each scarf invention is there not only as a cover for fe ale s aurah but also for a befitting appearance. Women should look radiant and graceful even in scarves. Therefore, Fareeda also decorates the designs with beads and embroidery stitches to make sure it is more elegant and contemporary when worn. The technique is simple to use as well. First, pin scarf under the chin, wrap the left side to the back, pinning a hood over your head, take off the lid to the right shoulder, place the top of it at the right place on the left shoulder, and pack the scarves, ready to wear. Initially there are six types of Fareeda scarves which are either empty fabrics, patterned fabric, beaded, embroidered, scalloped edges and are made of two-layered fabric imported from Italy, Korea, Thailand and France. The types of fabric include Tokyo chiffon, dope, dyed, opal and organza. In terms of color, almost 32 colors can be selected either from size S up to XL. Way of washing is easy enough, just soak briefly in water, and then dried in the sun and it should never enter into the washing machine as it will damage the product. It is undeniable that failure is a very bitter pill to swallow. While it is difficult for us to pass through, but if we see the failure of the positive side, it certainly will be a point of failure of the transformer to our lives. That was passed through by the Managing Director Fareeda House of Scarves, Puan Faridah Zakaria. She was considered a failure in her business before the trials and tribulations that have shaped her life in the future. Her enthusiasm never faded to rise again for success. Her determination to change the fate of the family made her strive and never know the meaning of despair, and as a result, Fareeda House of Scarves is known as a success story of a new venture from a first generation entrepreneur. A good luck is anybody's guess, and that is what has happened to Puan Faridah Zakaria who never thought that she would build her own brand scarves, and market them on such a scale. Born in An International Double-Blind, Peer Reviewed, Refereed Open Access Journal - Included in the International Indexing Directories Page 110 Asia Pacific Journal of Research in Business Management Vol. 8, Issue 7, July 2017 Impact Factor: 5.16, ISSN: (2229-4104) www.skirec.org Email Id: skirec.org@gmail.com Singapore but raised in Penang, she was initially bountiful in beauty and opened a beauty salon in Penang. Though the business was well received at the initial stage, it lasted for one year only. After the failure of her beauty salon business, she did not have any other job and this put pressure on her because of the then difficulties in her life. Thinking that she needs to support her family, she was not able to sit silently without a job again. She aspired to do something to change the fate of her family, and that all started doing business on a small scale by selling scarves to her closest friends. She got it as a vague idea to produce her own scarves to wear as she always had a feeling of not having a favorite scarf of her own liking. Starting from there, Fareeda has gone a long way in scarves designing, where the design and scarves cutting are the result of her own inspiration. She has proven that if we dare to try, things are not impossible to achieve. When she started to wear her tailor made headscarves, friends and relatives, people started to show interest in the style, produced by her, and then began to buy the same from her. Finally, she decided to open a business selling scarves, beginning right at her home. At that time, she only had two sewing machines to stitch the edges of one and one for ordinary sewing. With a capacity of two sewing machines, she worked very hard to provide the bookings that never failed to flow from her customers. She received hundreds of orders a day, and an order usually was to be completed in a short time. Time owned by her turned out to be very limited due to the need to take care of children, manage the household, sewing scarves and also serve customers at the same time. She was only able to sleep two to three hours a day and this was not going to be a reason for her to be discouraged, but it educated her to be more disciplined and appreciate the time. She felt very lucky to have a husband who was very supportive, and always encouraged her to continue to move forward, and also contributed a lot of ideas in the matters of designing of the Fareeda scarves. Fareeda House of Scarves currently has more than 100 employees and 300 dealers who sell nearly 20,000 pieces per month, mainly at Fareeda outlet in Bangi, Selangor. Customers are willing to queue in order to get the sacrves especially of Fareeda edition of the latest designs in the market because each design is produced in limited quantity, in order to maintain the quality image of Fareeda. Although Fareeda scarves are seen as quite pricey and expensive, with a starting price at about RM150 a piece, its core customers remain unchanged as brand fabric used to produce the scarves is of high quality from abroad. It is not only able to captivate customers, but ensures that Fareeda can compete on the strength of the differentiation strategy. If we review the trend across the whole market, scarves or clothing business is not very profitable, taking into account the emerging fashion. The rate of obsolescence is moderately high in case of fashion products. We can get the same shirt designs everywhere we go. It is not mixed with the issue An International Double-Blind, Peer Reviewed, Refereed Open Access Journal - Included in the International Indexing Directories Page 111 Asia Pacific Journal of Research in Business Management Vol. 8, Issue 7, July 2017 Impact Factor: 5.16, ISSN: (2229-4104) www.skirec.org Email Id: skirec.org@gmail.com of 'plagiarism' or violation of an intellectual property right. Following the issue, the brand Fareeda has been registered with the Intellectual Property Corporation of Malaysia. Therefore, imitating or copying products with Fareeda patents and brand is an offense, and legal action can be taken against offenders. The difference between Fareeda and other brands of the scarves is a matter of captivating quality and attractive style. Adhering to the goal to make veiled women look elegant and highlight the femininity within them, determined Faridah will continue to produce new, distinctive, fresh and unique designs. SITUATIONAL ANALYSIS The first time they officially advertised in late 2007 in a local Malay daily. At that point, they were still running the business from home. By early 2008, the media began taking notice. Fareeda made its aide appeara e o atio al tele isio i a seg e t of TV s Wa ita Hari I i progra , followed by one on state-controlled station TV1. Malay-centric newspapers like Utusan Malaysia and Berita Harian also started to take keen interest in Fareeda with a number of articles. Gradually, Fareeda s ra d of tudu gs sparked a assi e fre z i its or -bucking designs. At that point of time, the trend was plain tudungs with less striking colours. Tudungs with awnings had yet to become popular. Awnings refer to the portion of an underscarf that peeks out of the brim of the tudu g a o e the earer s forehead. Fareeda pla ed ith the o ept a d i ovated. Some of its designs sewed the awnings onto the tudungs directly, sometimes with different but matching colours. They received negative feedback regarding their designs. Some said the colours were too striking and too bright. Despite the sckepticism and negative feedback, a lot of people still continue to adore and like the brand, which keeps on growing with new ideas, and innovative designing. Fareeda s strateg is primarily based on a blue ocean approach. Rather than wading into an existing, potentially crowded niche in the tudung market, Fareeda created a whole new segment from the get-go. And tudung as a fashionable apparel took on a new level. Fareeda s gro i g popularit as in turn a contributing factor for the growth of business. While still based from the home at this point, with five to six helpers, Fareeda was making just around six figures in monthly turnover. Faridah single-handedly produced up to 3,000 tudungs a month, using two second-hand sewing machines which they initially bought when starting out. The crowd coming to their house to get Faridah s ha di ork as getti g igger a d igger. A d e e tuall the ouple felt that they needed a proper premise for the business, which they started looking for in early 2009. They eventually found a small first-floor room in Bangi. It was a very small boutique and it became easier for the customers to come unlike before whereby most of the dealers will come over to pick up the stock and them single-handedly doing deliveries to An International Double-Blind, Peer Reviewed, Refereed Open Access Journal - Included in the International Indexing Directories Page 112 Asia Pacific Journal of Research in Business Management Vol. 8, Issue 7, July 2017 Impact Factor: 5.16, ISSN: (2229-4104) www.skirec.org Email Id: skirec.org@gmail.com nearby areas like Bangi, Puchong and Sungai Besi. Shortly after the move into its very own premises that the tipping point came for Fareeda. Almost after three years Amunuddin Basirron and Faridah Zakaria were able to reap the rewards. Fans and followers were increasing. Fareeda gaining media attention and opened a new chapter in the field of fashion scarves. The couple did not expect their efforts will succeed in this way. The social media contributed significantly to the popularity of the new venture significantly to. They opened a page on Facebook. Todate, they have gained more than one million likes , in just five years. With continuous improvement, Fareeda opened new branches eight in total so far. Apart from two outlets in Bangi, Fareeda also has its boutique in Shah Alam, Kuala Lumpur, Johor and Penang. Recently, the boutique opened in Alamanda Putrajaya on 25 January, 2017. Aminuddin has resigned from the statutory bodies and manages the business fulltime. He operates the business and manages financial operations, while his wife focuses on designs with five and six assistants. Fareeda is depending on a shipping agent. Now the stock is sent using their own trucks, several hundred hoods at one time. The couple has never applied any business loans. They had just re-invested profits for the company's growth. Certainly the most surprising aspect of the ins and outs of Fareeda is the financial facts. Since Fareeda brand scarves are always in demand, the couple is hoping to be able to manage the costs and maintain growth without business loans. They have now been making RM3.1 million in net profit annually. MARKET ANALYSIS The industrial players claim that the Muslim consumer market makes up one fourth of the orlds population and the Muslim consumers are estimated to comprise about 1.8 billion of people. In order to compete and to reach the burgeoning market, more global branding is quickly picking up on the latest trend and tailoring their approach. The primary target of Fareeda Global Resources Sdn Bhd will be the Muslims women aged between 20 to 50 years. Their customers are mixed but mostly middle-income women, working in the public and private sectors. For Muslim women who desire to look fashionable and conservative, Fareeda scarves are designed in a way to cater the cultural needs and the modern tastes of Muslim women. Fareeda aspires that the brand should not only appeal to moderns ladies whose preference is to dress modestly but it would like to create a special collection that will also catch the eye of the international as well as domestic market segments, where women desire to wear scarves that fit comfortly and look contemporary. Celebrities like Yuna are helming the hijab chic fad and with the rise of hijabsters (a portmantheau of hijab and hipster) all the marketers and industrial players are alerted not to restrict to global trending but also consider the untapped segments as potential target markets. There is a research An International Double-Blind, Peer Reviewed, Refereed Open Access Journal - Included in the International Indexing Directories Page 113 Asia Pacific Journal of Research in Business Management Vol. 8, Issue 7, July 2017 Impact Factor: 5.16, ISSN: (2229-4104) www.skirec.org Email Id: skirec.org@gmail.com done by OgilvyNoor Singapore, an Islamic branding consultancy. The results have shown that there are 3 trends which encourage the marketers to pay more attention to the Muslim consumers. Muslim consumer market makes up one fourth of the orld s population and the Muslim consumers are estimated to comprise about 1.8 billion of people. From the reported 1.8 billion of Muslim consumers, 40% are under the age of 25. Majority are representing the new Muslim consumers who were called the "futurists" according to Q-Tech-Savvy, as self-empowered individuals. They are fully engaged with world and most of them are consumers with increasing disposable incomes, very brand conscious and deemed very loyal and hold brands to account. For the "futurist" Muslim women, they are the type of women who are comfortable in their own skin, very firm and know what they want and stay firmly rooted in the values that define them. In Malaysia, the head scarves is a specific dress requirement for women in Islam. There are about 16 million Muslims in Malaysia. Hooded phenomenon is gaining momentum. There have also been fashion shows for the Muslim headscarves. The situation will become more vibrant and full of potential to be developed. There are many reasons why this industry has produced some millionaires during past few years. 1) Large Market Size: Roughly there are 8,000,000 (eight million) Muslim women in Malaysia. In other words, potential customers are 8 million people. If taken rough count, each person buying a piece of the lid RM20 per month, then: 8,000,000 people x RM20 = RM 16,000,000 per month; RM16,000,000 x 12 months = RM192,000,000 year. Roughly, by counting the above, the market size is approximately 200 million per year.Let us ask the women next to us, what kind of scarves do they have now? The purchasing power of the lid is more than other clothes. This is a fact we need to know. 2) Womens Necessity: The head scarves is a basic requirement in Malaysia, especially to women who are Moslems. This is because religion requires that they cover themselves. Moreover, even if they do not practice hijab in their daily life, free hair women also stock up their scarves collection for specific occasions. In the meantime, the scarves also have become a popular trend in Malaysia. This is evidenced by the existence of a special television program that explores new fashion scarves. 3) Large size of consumers: Let us take a look at Facebook Fan Page for scarves by the brand. Fan Page has almost 1 million and it keeps on growing. In addition, the non-Muslim communities also , buy a shawl as thermal insulation, fashion or modern style. 4) The woman obsessed in buying and easily affected: Women are the most susceptible to beauty, especially fashion scarves that will show their latest as those who are always up-to-date in headscarves. Therefore, every time the latest fashion product is purchased by the same fashion An International Double-Blind, Peer Reviewed, Refereed Open Access Journal - Included in the International Indexing Directories Page 114 Asia Pacific Journal of Research in Business Management Vol. 8, Issue 7, July 2017 Impact Factor: 5.16, ISSN: (2229-4104) www.skirec.org Email Id: skirec.org@gmail.com conscious buyer. The purchase process will be repeated each time the latest fashion or shows up, or is launched. 5) Repeated purchase: Another fact is that of repeated purchase for the sacrves is also very high. The factors that boost repeat purchases pertain to contemporary fashion trends according to the progress of time. Therefore such purchases do not stop, and women will always flock to find new scarf every time, earlier of a month, center of a month or end of a month. 6) Increased purchases during festive season: There is definite increase in sales of up to 300% during festive seasons. That is the perfect time to start and get rewarded. With the right knowledge, commitment and the best strategy, we can generate money through this business, whether parttime or full-time. 7) Low Cost and Less Risk: The business can kick start with a low cost, but high profit margin of 100%. In addition, marketing costs can also be reduced with specific techniques , which have proven effective. 8) Can Save Stocks For a long time: If we even buy a lot of stock , we have nothing to lose unlike when we sell food. Stock of scarves that we have will not be damaged if stored in good condition. Do not worry as the scarves demand will definitely continue to go up if the marketers o su er eha ior pertai i g to types of scarves that will be "HOT" and "TRENDY". Each year there are the newest trends such as scarves Wardina, Ariani scarves, shawls, etc. 9) Islamic fashion worldwide: Market cap can also grow up overseas, particularly in Muslim-majority countries. For example, the market will spread through the Malaysian students who study abroad. Malaysian Muslims who wear the scarves with varyig, trends, designs, styles and fashion. 10) Simple, Easy and Fast To Start Trading – Scarves business is a fun, easy and quick to start generating income. Newcomers can choose to start, with locally available skills and talent. Many have been successful either offline or online using the strategy. This industry has a chance to spread and is potentially high if we engage ourselves with confidence, clear vision and action . An International Double-Blind, Peer Reviewed, Refereed Open Access Journal - Included in the International Indexing Directories Page 115 Asia Pacific Journal of Research in Business Management Vol. 8, Issue 7, July 2017 Impact Factor: 5.16, ISSN: (2229-4104) www.skirec.org Email Id: skirec.org@gmail.com COMPETITOR ANALYSIS COMPETITOR STRENGTHS WEAKNESSES ARIANI 1) Established in 2008 2) A brand that is prominent and was the 1st to start off with the iconic "Awning tuning" and also the one, which introduces the exclusive line of scarves 3) Easily accessible. Branches in almost all major cities in Malaysia 1) Expensive and price range can go up to thousands under the Exclusive line 2) Limited placing of the product in the market 3) Image of exclusivity, refraining customers from entreing the stores 4) Hidden floor price 4) Multiple design, inner, all under one roof BAWAL EXCLUSIVE 1) Established in 2007 1) Expensive and price range can goes up to thousands 2) No solid competitor 3) Exclusive collaboration with Swarovski Elements 2) Only one exclusive boutique in Kuala Lumpur 3) Limited design 4) Practices old marketing tools Another premium brand is that of Ariani scarves. A brand that is prominent and was the 1st to start off with the iconic "Awning tuning" and also the one, which introduces the exclusive line of scarves. The branding was formed on a strong foundation among the headscarves-wearing crowd. Maitaining the image and ethos of Muslim compliance, Ariani has always been well known as a fashion champion for its tasteful headscarves designs. Their creations are regarded as perfect balance between style and function. Exclusivity, Modesty and Contemporary are the 3 main elements as regards designing of their products. Connected with Jakel, the brand Ariani has set itself differentlt from other brands, by creating fabrics and designs with better understanding of the Malaysian climate. It focuses on various colors, textures and also printing, Ariani aims to produce unique, modern, elegant and sophisticated products. Ariani strives to maintain the balance in between practicality, current trends and comfort without having to compromise the beliefs as a forefront modest fashion icon. Each of Ariani's products are An International Double-Blind, Peer Reviewed, Refereed Open Access Journal - Included in the International Indexing Directories Page 116 Asia Pacific Journal of Research in Business Management Vol. 8, Issue 7, July 2017 Impact Factor: 5.16, ISSN: (2229-4104) www.skirec.org Email Id: skirec.org@gmail.com tailored to perfection in order to fit and meet their client's demand. They have gone through such a great length to speed up with the latest fashion trend by understanding the preferences and demands of their customers by working on fresh, modern and original ideas. Bawal Exclusive produces tudungs with highest quality material such as voila to ensure long lasting durability of their products. It pursues differentiation strategy. They believe in only quality products in order to build up their reputation in the market. The tudungs come with the state of the art design quality. From years of of tudung designing experience, and top creative designers, the look and feel are very impressive. Famous among royalty, the brand bawal has been the number one choice for those who are into Swarovski Elements. Eventhough there is only one exclusive boutique but the brand has maturely grown and has its own loyal followers. SWOT ANALYSIS PRODUCT TODAY NEW Market Penetration Development Products MARKET Today New 1. More new orders by the existing customers and also by new clients 2. To attract and to win the customers and consumers over from other competitors 3. Conversion of non users to new users and maintaining the existing users 4. Opening of more new flagship stores 5. Working hours of shops and stores according to designated areas 6. Reduction in pricing of New Fashion 1. Tailor made garments and modification 2. High and differentiated quality levels of garments 3. Latest garment designs and patterns 4. Positive and strong retail branding 5. Garment range spreading Development of Fashion Market Diversification 1. New marketing segment 2. New distribution channels 3. New geographical region 1. New market supply 2. New shops on a new market An International Double-Blind, Peer Reviewed, Refereed Open Access Journal - Included in the International Indexing Directories Page 117 Asia Pacific Journal of Research in Business Management Vol. 8, Issue 7, July 2017 Impact Factor: 5.16, ISSN: (2229-4104) www.skirec.org Email Id: skirec.org@gmail.com The Product –Market Growth Matrix For Fareeda Global Resources Sdn Bhd STRENGTHS 1) The designs and patterns are very exclusive. Every single patterns and design of FAREEDA are registered under Intellectual Property Corporation of Malaysia (MyIPO) and will be protected by Copyright Act 1987 2) Good and positive image 3) Well-known trademarks and brand names 4) New fashion trend with high quality fabrics OPPURTUNITY 1) 2) 3) 4) 5) Expanding the private label brands Introduction of clothing lines Increasing e-commerce revenues Bricks-and-clicks integration Improve customer shopping experience WEAKNESSES 1) Very high price 2) Poor covering of foreign markets 3) Neglected conditions of stores which lead to poor shopping experience 4) Unable to meet the high demand THREATS 1) Competitors offer lower prices 2) Competitors have better distribution net with more outlets for sale 3) Import of similar articles at lower price TARGET MARKET The primary target of Fareeda Global Resources Sdn Bhd comprises of the Muslims women aged between 20 to 50 years old. Their customers are mixed but mostly middle-income women in the public and private sectors. This population segment is estimated at four million people. As more Malaysian women have started wearing the hijab and modify their wardrobes accordingly, modest fashion has been fast becoming a lucrative industry in the country and even worldwide. There are about five million Muslim women in Malaysia who cover their heads and dress modestly, according to Islamic teachings. Modest fashion is foreseen to be increasingly popular and so much so that it provides a huge opportunity for fashionable women and creates a niche market for old and new entrepreneurs. Fareeda Global Resources Sdn Bhd has targeted to triple its sales this year to over RM100 million from RM30 million last year. They believe the target as reasonable and achievable as there is a very strong and huge demand. The hijab and scarves industry is a burgeoning business all over, around the globe. Fareeda is no exception to the social media explosion, which has empowered the small and medium businesses in Malaysia. There is a sudden outburst of interest by throwing the e-commerce element An International Double-Blind, Peer Reviewed, Refereed Open Access Journal - Included in the International Indexing Directories Page 118 Asia Pacific Journal of Research in Business Management Vol. 8, Issue 7, July 2017 Impact Factor: 5.16, ISSN: (2229-4104) www.skirec.org Email Id: skirec.org@gmail.com to enable it to penetrate all the territories over the globe. It is a trend now to bring in celebrities as their brand ambassadors, and Freeda is pursuing the same. It has definitely become more appealing and has accentuated the branding to a new level. In a positive way, the increasing number of new entrepreneurs can be beneficial from social as well as economic standpoints. Fareeda Global Resources Sdn Bhd is a success story of a new entrepreneur, who has adopted social media to its great advantage. Fareeda is the 1st brand in the country that has managed to make their customers to queue in front of their stores overnight just to get in hand their latest creations. Although the price range is considered not cheap, but people are willing to pay and spend money for it. From time to time, Fareeda release its exclusive and limited editions of scarves whereby shoppers are limited to 2 pieces of purchase at one time. Some of the buyers purchase their scarves and later sell them away four times the purchase price. There is a growing number of online merchants who sell scarves. Perhaps because the scarves are an easy to do business and the market is also very broad. After all the various methods and techniques can be used for on-line selling scarves. The existence of a growing number of traders has proved that there is an opportunity to make money on the internet. A company like Radiusite started up with selling and marketing via online using blogging techniques. Now they have stepped further and developed their business, and have a number of shops and outlets in tradition brick and mortar formats. However, not all entrepreneurs can make profit in a short time. Many traders or entrepreneurial ventures have failed to survive. CONCLUDING REMARKS Fareeda Global Resouces Sdn Bhd should venture into fashion e-commerce sites as they already have a sizeable and loyal audience. The current website is very outdated, and it does not allow any online purchase via the website. Besides, as they are offering only hijab, they should consider opening a one stop Centre that can cater all the Muslimah wear needs. Fareeda should be able to offer something for every occasion and to women from all walks of life. Fareeda should think of an idea to be able to be the first in producing and offering the complete range of modest designs and products for every looks and occasions. Fareeda e-commerce site will definitely create a convenience shopping lifestyle by simplifying the shopping experience. With creative fresh new looks and a dedicated customer service team, they will be able to assist customers with online shopping dilemmas by offering styling tips and also by answering any queries that may arise. A dedicated customer service team must be well-trained and fully equipped, and must be ready at all times to assist the customers in finding the right design and perfect styling that meet and suit their preferences. An International Double-Blind, Peer Reviewed, Refereed Open Access Journal - Included in the International Indexing Directories Page 119 Asia Pacific Journal of Research in Business Management Vol. 8, Issue 7, July 2017 Impact Factor: 5.16, ISSN: (2229-4104) www.skirec.org Email Id: skirec.org@gmail.com REFERENCES 1. Fareeda Global Resources Sdn Bhd www.fareedascarf.com 2. Kotler, Keller A g Leo g, Ta ., Marketi g Ma age e t-An Asian Perspective (Sixth Editio ) , 3. http://www.themalaymailonline.com/malaysia/article/big-demand-for-stylish-modest-fashionas-more-malaysian-muslim-women-don-hi#sthash.NEW2MHB1.dpuf 4. Jakel Group of Companies www.arianionline.com 5. www.kinibiz.com/story/issues/176848/sewing-on-a-tudung-business.html 6. Thompson, Peteraf, Gamble, Strickland. Crafting & Executing Strategy - The Quest for Competitive Advantage Concepts and Cases An International Double-Blind, Peer Reviewed, Refereed Open Access Journal - Included in the International Indexing Directories Page 120