Yetnayet Eshetu is the owner and manager of the enterprise who dwells on strategic and policy issues. She is in charge with directing and coordinating the overall day-to-day activities of the enterprise. Her responsibilities in general are: the application of the right capacity in terms of business management, marketing, product quality, process efficiency etc.
At present we have 43 employees; 33 of our staffs are involved in weaving and 10 doing tailoring and marketing. Due to our business expansion program & the favorable business atmosphere, we expect that our employees’ number will reach to 75 in short period of time. Our Head Office is located in the Bole Sub-City Administration at Mickeyleyland Road, Yoly Building, ground floor and the factory (weaving workshop) is located around Kebena area. The Head Office is also the sales outlet and the tailoring workshop of the enterprise.
Generally, our products are classified under three broad categories: wedding clothes; women casual and occasional clothes; full-set dresses, tops & shorts; and other products such as scarves, handbags, pillows and table clothes. Our products are made from combinations of different yarns, threads, silks and cotton designed to fit the needs of the contemporary customers. Due to this, our traditional clothes are best known for being light, colorful (we have up to 8 varieties in terms of color including golden, silver colors of Ethiopian flags etc.), durable, comfortable and stylish. While we purchase most of our raw materials locally, we import some that couldn’t be found in the market. Currently, Yeti Tibeb Lealem promotes new designs for the Ethiopian Millennium.
With regard to market, we have targeted to serve the domestic market focusing on the needs of the middle-high income class customers and exporting to the Diaspora both in the USA and Canada, taking full advantage of the African Growth Opportunity Act (AGOA) in the U.S.A.
Until recently when formal enterprises enter into the business, manufacture and sale of traditional clothes have been undertaken informally and there was no conscious competition. In addition, traditional clothes were mainly meant to local consumption on a piece-meal basis. As a result, there was little need for formal marketing activities. But that is changing we have to put in place a formal marketing activities aimed at boosting our sales revenue and profit.
Marketing strategy
Assessing market trends and opportunities as well as understanding consumers’ demands. The key questions here are: where is our market and how can we get there? Are there new ways to be exploited for further growth of the market?
To improve existing quality through technical advises and quality control so as to enhance competitiveness. Yeti believes that competitiveness is the magic word in doing good business. We are therefore applying good knowledge and best practices for our success. Some of the key questions here are: Is the quality right? What does it take to improve our competitiveness? As far as quality, supply and meeting delivery time are concerned her company has a good reputation.
Market promotion
Expanding the existing market and finding new ones is vital for the success of our business. My assertion is that the market can be penetrated with more aggressive promotional work. Presently Yeti has promoting her products through direct correspondences (fax, letter, e-mail, and telephone); dispatching brochures & leaflets; inviting people to visit he shop so that the established contacts can further be exploited; to participate in exhibitions, bazaars, fashion shows. And of course, to encourage people to visit her Website: www.yetitibeb.com. So that to allow consumers to access information about my products range. I believe easing information to be accessed in a single website is the key to the success of any business, be it domestic or in the global market .
Presently, she is leading the market in traditional clothes that are designed to meet customer needs to reflect traditions and values of Ethiopia. The increasing demand is the manifestation of uniqueness of her products like wedding and occasional clothes, which gave us a significant market niche.
Our Major Strengths
Our major strengths are: product feature designed to fit the need of the contemporary customers; specializing in some products like wedding and occasional clothes; design and entrepreneurial skill of the owner; reputation and customers’ loyalty.
Some of the identified opportunities from the broader environment include: existence of wider market for our products; opportunities to enter into foreign market through AGOA initiatives; cheap manpower; and anticipated macro-economic growth. We have planned to export 60% our products to the Diaspora in the USA & Canada.
Because of unique features of our products, we usually add higher mark-ups on our unit manufacturing costs. We have planned to maintain the same mark-ups during the coming five years.
Finally, to make proactive adjustments for new developments and to strategically fit into the broader environment, we will continuously monitor and evaluate our plan periodically. For this purpose, strategic and operational controls will be used.
Vision: leading the market in traditional clothes business by specializing in best quality and fashionable Ethiopian traditional clothes that are designed to meet customer needs and reflect traditions & values of Ethiopia.
Mission: The mission of her enterprise is enhancing and sustaining profitability through meeting customer needs by way of manufacturing and selling superior quality and value added Ethiopian traditional clothes both for domestic and foreign markets. The vision and mission of the enterprise presupposes not only production of quality, fashionable and value added traditional clothes that offer a high degree of convenience and satisfaction for both domestic and foreign customers but, also conducting our business affairs with utmost integrity and business ethics that support traditional dress weavers (Shemmanes).
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