Independent University Bangladesh (IUB).

Course name: INB301

Assignment Topic: Report on CATS EYE

Submitted by

Name ID Task
Country Singapore
Country India
Country Malaysia
Presentation Slide
Company overview &
Introduction, Country profile

Submitted to

Hanif Mahtab

Assistant Professor in International Business.

Independent University Bangladesh (IUB).

 Letter of Transmittal

10th January, Autumn 2020

Hanif Mahtab

School of Business,

Independent University, Bangladesh, IUB

Subject: Cats’ Eye Export Plan.

Dear Sir,

We are presenting to you an extensive research report on the export plan on the
readymade clothing products of Cats’ Eye ltd.

It is our great pleasure to submit the report to you. As instructed, we have completed
an export plan which plans out a partnership business of 5 members that are in our
group. We have tried to utilize all the knowledge that we gathered through a group
discussion and information taken from online research.

Thank you so much for your guidance without which this report cannot be
completed.

We sincerely pray and hope that you will acknowledge and accept the report and We
would vastly appreciate it if you gave your viewpoint on our effort.

We hope you find this report satisfactory.

Regards,

Mehnaz Siddiqui
Md. Saqlain reza
Md. Ohidul Alam Shisir
Syed monjur ayan
Zyma Zaman
Acknowledgement

This is a tough time for all of us, being locked inside our homes for so many months
and adapting to the “New normal” has been difficult to a lot of us but we have tried
our level best to adopt the online education system. I, along with my team members
have put our minds and hard work together to prepare this report and I believe we
have all done our best.

We are extremely fortunate to have done this amazing International Business course
with our Honorable faculty Mr. Hanif Mahtab. We feel motivated and inspired and
are more intrigued to learn more about the subject he teaches. Without his
encouragement and guidance this project would not have materialized.

Although we could not work as a team but still acknowledgements must go to the
team members, who at least help me out to make the project both possible and
successful.

The guidance and support received from all the people who contributed and to this
project was vital for the success of the project. We are grateful for their constant
support and help.
Table of Contents

Cats Eye 1
Executive summary 1
Company Description and Key elements 2
Description of the business: 3
Export Opportunity in Singapore 4
Strategy for Business 5
Strengths of the Singapore market include 6
Industry profile Singapore 6
Country Profile Singapore 6
Export Opportunity in India: 7
Industry profile India: 9
The cultural environment of India: 10
Export opportunity in Malaysia 11
Strategy for business of Malaysia 12
Overview business in Malaysia 12
13
Country profile 13
Conclusion 15
References: 15
 Cats Eye

Cats Eye is the pioneer lifestyle brand for original style and shopping content,
starting from trendsetting fashion lovers and their followers in Bangladesh. With an
emphasis on making fashion unique and stylish attainable.

Cats Eye connects people with expert advice while providing tips and information
from across the world as well from our all outlets. We also cover here the places of
fashion in the context of culture and the world we live in - how we dress, live and
socialize; listen to and watch; who leads and inspires us. In 1980, CATS EYE began
their journey in the form of a small shop in Green Super Market that sold almost
everything from candies to ornaments.

The founders, Mr. Sayeed Siddiqui Rumi and Mrs. Ashrafun Siddiqui Dora, had kept
a small part of that shop for shirts that they designed by themselves. They got a good
response from the enthusiastic young men of Dhaka. Therefore, Mrs. Ashrafun
Siddiqui decided that they would only sell designer clothes for men. In 1983, the
couple rented a floor space in Mansur Bhaban, Elephant Road.

That was the official inception of CATS EYE. Until 1993, there was a vacuum in the
men’s fashion market for a clothing line for the executives. Thus, CATS EYE
introduced a new line of products under the new brand name MONSOON RAIN as a
sister concern of Cats Eye.

In 1998, Cats Eye launched another brand of Men's Wear under the name CATS EYE
Unlimited, to satisfy the stylish men’s casual wear segment. Recently CATS EYE
introduced Ladies wear, shoes and silver jewelry.
EXECUTIVE SUMMARY

Bangladesh is a developing country in the global economy with a reputation of

exporting ready made goods. The country has experienced rapid economic growth in
recent years mainly driven by exports of readymade-garments and remittances from
migrant workers. The country is diversifying its export base in terms of products and
destinations while tapping into its vibrant private sector and large pool of
inexpensive labour.

Bangladesh’s major export item is readymade-garments and others include shrimps,

jute, leather goods and tea. Main export destinations are the United States and the
EU. The main purpose of our export plan is to export our brand’s readymade
clothing.
Entering new 2 markets and exporting abroad would help our Brand get more
recognition and will broaden our market growth. Moreover, through the entrance we
will capture more revenue from that region and that will help us in future to become
a leader on exporting garment products.

Our country patronizes this type of product with subsidy, monitoring and favorable
policy making. Bangladesh earns more foreign money from exporting garment
products. To get back the market position. We draw attention in the domestic and
foreign market focus using excellent promotional activity. In immunes, to select a
new market we consider the cultural, political, economic condition and sustainability
of the countries. We analyzed trade friendliness, diplomatic relationship statuses,
export imports policy, regulation and future market potentiality.

We have chosen an existing garments factory to increase their buyers/market it in a

global market. The International business plan of our company is basically to
"export" all kinds of ready-made shirts, polo shirts, blazers, ethnic wears for all
gender and for all ages to the selected three countries. The countries are Malaysia,
Singapore and India. We have secured exclusive contracts or endorsements putting
us in a unique position to service these needs.

Company Description and Key elements

Cats Eye is the pioneer lifestyle brand for original style and shopping content,
starting from trendsetting fashion lovers and their followers in Bangladesh. The key
elements include transportation and how the goods will be exported.

The clothing will be made in the factory which is in Savar. And we will use the
Chittagong Port to deliver our goods to the global buyers, and to transport the goods,
the company will hire the necessary commercial vehicles (Covered Van) to deliver
their products to the Chittagong port.

Since the company has been operating from 1980, they already have a Trade
License, T.I.N 3 Certificate, E.R.C (Export Registration Certificate), I.R.C (Import
Registration Certificate), LC (Letter of Credit) facilities from the bank for the export
processes. Moreover, our company ensures all the export documents such as a Pro-
Forma Invoice (P.I), Bill of Lading (B.L), Inspection Certificate (I.C), Certificate of
Origin, a Commercial Invoice, Packing List, etc.

Description of the business:

Our export plan is to sell the ready-made products to the few selected foreign
countries. This export plan has developed from the usual observation of the day-to-
day life. People who love to wear comfortable, fashionable t-shirts, Blazers and all
the trendy clothes in an affordable price range. With these assumptions we hope that
we can create demand for this product to our selected countries in the world.

Mission and Vision:

Cats Eye believes in continuous improvement in the product quality and being cost
effective as a means of achieving Total Customer Satisfaction. Customer Satisfaction,
Inspiring creativity,Integrity,Healthy Work Environment, Commitment &
Teamwork, Equal Opportunity Employer - These are the key points that our
company values.

Reasons to Export

To increase Market Size.

Broaden Market share

To make our business look more progressive.

Build International Business relationships.

Proper use of International opportunity.

Exporting broadens the marketing base.

Build and existence in the International market.

Exporting can help protect our company against domestic market swings and
business cycles.

Finances:

Financial Statement is the most significant aspect of Corporate Governance and

protection of interest of Investors. RGAL Plastic Company Limited maintains the
International Accounting Standards (IAS) and when legally required, discloses the
Accounts and Financial Statement. Therefore, they do not reveal their any kind of
financial information anywhere.
Product Description:

Products: T-shirt, Polo Shirt, Fleece Shirt,

using all types of local and imported fabrics
for Men, Ladies, Boys, Girls & Kids and all
kinds of knitted items using all types of local
and imported fabrics.

Export Opportunity in Singapore

Singapore is a small but wealthy city-state with an open and trade driven economy.
It’s a leading global business Country located where the major east and west shipping
lanes converge. Singapore has a stable government with a strong rule of law and
effective regulatory system.

free flow of goods and capital

common language and strong historical ties

similar business and legal practices

similar technical standards

close to major Asia Pacific economies

Strategy for Business

In Singapore there are lots of brands doing their business and the citizens of this
country are fashion trendy that is why we select Singapore, and we collect some
information and data about how it is best for cats’ eye to open their branch here. And
we calculate our product prices and what kind of product we are going to exporting
there and how-to promotion our brand,

Price:

The average price of our basic T-shirt will be $1.90 / BDT. 156.00. Price will vary
depending on buyer’s requirement, design, and workmanship. Our Competitors T-
Shirt Average price is $2.20. We provide better quality products at lower cost than
others.

Product:

T-shirt, Polo Shirt, Shirt, jeans etc.

Innovative product.

Elimination product.

Differentiation product.

Promotion: It is the most important part for our business. So we decided to promote
our product region based Facebook ad, TV advertisement, online page and give some
super offers, telemarketing, SMS marketing etc. And we also decided first month
opening we will given 50% discount of our product

Strengths of the Singapore market include

fourth largest global financial center

Asia’s strongest Intellectual Property (IP) protection

highly skilled and educated local population

low corruption and strong rule of law

excellent infrastructure and transport connectivity

Industry profile Singapore

Singapore’s apparel industry generated sales of US$3.6 billion (S$4.4 billion), and
among the nearly 130 manufacturers that make up the industry are the number of
one supplier for world-renowned names like Gap, Nike, & Marks & Spencer.

Country Profile Singapore

Singapore is a tiny island nation located in maritime Southeast Asia, right on the
southern tip of our closest neighboring country, Malaysia.

Thanks to its location on a natural harbor, Singapore has been a trading hub since as
early as the 13th century.

Things changed in 1819 when Sir Stamford Raffles ‘discovered’ Singapore and
developed the then small town into a bustling trading outpost for the British East
India Company.With a growing economy, migrants from many parts of Asia began to
flock to the city, bringing their own cultures and traditions along with them.

The amalgamation of these practices shaped the early years of modern Singapore and
leaves behind a rich heritage begging to be explored.
Singapore has a highly developed trade-oriented market economy. Singapore's
economy has been ranked as the most open in the world, 7th least corrupt, most pro-
business, with low tax rates (14.2% of Gross Domestic Product, GDP) and has the
third highest per-capita GDP in the world; in terms of Purchasing Power Parity
(PPP). The middle-income earners make between $3,500 to $5,500 a month.

Culture & Religion:

Singaporeans learn about the religious customs and traditions of other population
groups early on. On the list of public holidays in Singapore are Christian, Muslim,
and Indian holidays, among others. The state is home to ten major religions,
including Buddhism, Taoism, Islam, Hinduism, and Christianity. The culture of
Singapore is the combination of Asian and European cultures. Influenced by, South
Asian, East Asian, and Eurasian cultures. So, we can very easily cope up with our
business because in Singapore there are many people with many choices, and we
have so many types of products.

Singaporeans are bilingual. Most speak Singaporean English and another language
like Tamil. As we can see English their priority it is very important for us to
communicate and identify their dressing taste.

Foreign relation:

Singapore maintains diplomatic relations with 189 countries although it does not
maintain a high commission or embassy in many of those countries. It is a member
of the United Nations, the Commonwealth, ASEAN, and the Non-Aligned Movement.

Export Opportunity in India:

India is a neighborhood country of Bangladesh. So in South Asia Bangladesh is

India’s biggest trade partner. India is an open economic country and we are involved
in a global business. Especially in this pandemic situation of COVID19.

1.East to trade with goods and services.

2.Easy for foreign direct investment.

3.Managing the global marketplace

4.Fevorable political system.

5.Similar technological, business and legal practices .

6.Communication is very easy.

Strategy for Business:

In India we find different types of clothing brands. So trading in foreign countries is

a big challenge. That’s why we need to focus on the tastes , preference, choice. So we
analyzed and collected some information. We have already calculated the prices of
our clothing and the plan to promote our brand.

Price of our products:

1.The average price of our basic T-shirt will be $1.90/BDT,156.00.Price will vary
depending on buyer’s requirement,design and workmanship Our competitors T-shirt
average price is 2.20.We provide better quality product at lower cost than rivals.

Products of Cats Eye:

1.Shirt,T-shirt,Sweat Fleece etc,
2.Innovative product.
3.Elimination product.
4.Different product.

Product promotion of our clothes

By promoting our products we can sell more. So we have to think broadly to promote
our products.TV advertising ,Facebook ad, online page, E-Marketing ,SMS
marketing, We can also give some discount offers on special days. Like EID, New
Year, Puja etc.

Strengths of the India market include:

1.Mature democracy .
2.History by conquering hunger ,poverty and illiteracy.
3.Low per capita income.
4.Over population
5.Educated people
6.Multicultural country.
7.Excellent infrastructure and transportation connectivity

Industry profile India:

The major industries in India are iron, steel, sugar, cement, paper, automobile
,information technology banking and insurance. India’s auto components industry is
expected to become third largest in the world by 2025.

Country profile of India

India is the most populous country in the world. The population is almost 1.39
billion. Largest city is Mumbai. The capital in New Delhi. Administrative Divisions
are 28 states and 8 Union Territories. India is an open economic country.

The largest trading partners with India are the United States, China, United Arab
Emirates, South Arabia etc. The economic growth of its country is in favor. So, other
countries are willing to trade with India. Though it is a developing country. It is a
trade-oriented market economy.
The cultural environment of India:

Languages of India: In India there are many languages. Mainly they speak in Hindi
but besides these 21 languages are spoken in India. Like Bengali, Kashmiri,
Assamese, Kannada, Punjabi, Tamil etc. Each language is respected for them. They
are willing to learn another language. Moreover, as English is an international
language, so it is easy to communicate with them and identify their tastes and
preferences.

Religious of India:

Six religions are living in India .They are Muslims, Christians, Sikhs, Jains,
Buddhists and Zoroastrians.

Power distance of India:

The power distance in India is that power dynamics are as much bottom up, as they
are top-down, in that those low on power are at home with the power differential.

Company and Management Orientation:

Our brand is Cats’ Eye. We would like to apply this method of business in India as
well as Malaysia and Singapore .India is a multi- cultural country . India is a
multicultural country having people in many countries. India is a world’s tourist
country. Tourism is a major part of the economy of India. So, we can easily do
business in India.

Political and legal environment of India:

The world’s most democratic country is India which badly affects the country's
political environment and business.

The

GDP (billions USD) 2.00 2.00 2.00 2.00 3.00

GDP (Constant Prices, Annual % Change) 6.1 4.2 -10.3 8.8 8.0

GDP per Capita (USD) 2 2 1 2 2

General Government Balance (in % of GDP) -7.1 -8.2 -10.2 -9.2 -8.9

General Government Gross Debt (in % of GDP) 69.6 72.3 89.3 89.9 89.5

Inflation Rate (%) 3.4 4.8 4.9 3.7 3.8

Current Account (billions USD) -57.18 -24.55 8.52 -26.39 -48.81

Current Account (in % of GDP) -2.1 -0.9 0.3 -0.9 -1.6

Source: IMF – World Economic Outlook Database, October 2020

EXPORT OPPORTUNITY IN MALAYSIA

Southeast Asia is one of the latest rising dragons in Asia, and Malaysia has recently
taken up the spotlight spot in the region. As the country’s GDP shoots up to 354.35
USD Billion, an all-time high, in 2018, it has become one of the most attractive
gateways for investors who wish to reach the new South East Asian market, expected
to become the 4th largest markets by 2030

1. Advantages in business opportunities, and business development

2. Limitless market– the main advantage of exporting

3. Exporting can provide protection from downsides of the local market

4. Foreign markets can have higher prices than the local market

5. The government will give benefits for exporters

6. Payments for your goods can be received faster, than in the local market

7. Possible to lower your business costs

8. Benefits of using technology

9. Possibility to expand and grow further

Strategy for business of Malaysia
We are considering Malaysia as a potential market. The reasons are many: the rapid
increase of total consumers because of the rise of multicultural immigrants, impact
of product among local consumers, the presence of different segments of consumers.

1. The average price of our basic T-shirt will be $1.90 / BDT. 156.00. Price will vary
depending on buyer’s requirement, design and workmanship. Our Competitors T-
shirt Average price is $2.20. We provide better quality products at lower cost than
rivals.

2. Cost plus pricing

3. Price skimming

4. Product promotion

OVERVIEW BUSINESS IN MALAYSIA

One of the most successful countries in Southeast Asia, Malaysia is a middle-income
country that consistently shows a robust growth. Though the country's development
has been guided by the government, Malaysia's economy is steadily opening and
advancing fast towards technology and innovation. The second highest connectivity
in Southeast Asia behind Singapore, Malaysia has a much larger population which
makes it one of the most interesting digital markets in the region

Export-Oriented Growth

According to the Malaysian Industrial Development Authority (MIDA), the

government’s industrial development promotion and coordination agency,
Malaysia’s manufacturing focus has resulted in the continued growth of the textile
and apparel industry — the sixth-largest contributor to total earnings from
manufactured exports in 2004. In 2005, the industry became the seventh-largest
contributor of export earnings in the manufacturing sector.

MALAYSIA AT A GLANCE

• Capital: Kuala Lumpur

• Government type: constitutional monarchy

• Currency: ringgit

• Population: 24.4 million

• Exports: $147.1 billion free on board (f.o.b.) (2005 est.)

• Export partners: United States (US) – 19.5%, Singapore – 15.4%, China – 11.3%,
Japan 8.3%, Thailand – 4.6 %, Hong Kong – 4.1 %.

Country profile
The comparable country profile for getting some basic information in a tabular
format about the countries has been selected to export. 

Country Banglades India Singapore Malaysia

h

Capital Dhaka New Delhi Singapore Kuala Lumpur

Political View parliamentar Parliamentary parliamentary federal

y republic democratic representative representative
republic democratic democratic
republic constitutional
monarchy

Currency Taka Rupee Singapore Malaysian

dollar ringgit

Per capita $2,064 $1,876.53 $58,500 $11,414.21

GDP

GDP (PPP) $5,139 $6,284 551.63  $27,220

Population 167.6milliom 1380million 5.704 million 32.6 million

Tariff 6.1%
India tariff Singapore tariff
rates for 2018 rates for 2018
was 4.88%, a was 0.24%, a
 0.9% decline 0.17% increase
from 2017. from 2017.

Labor force 81.95 501 million 3.74 million 15.58 million

million

Labor force by agriculture : agriculture: agriculture: agriculture:

occupation 47% 47% 0.7% 11%
Industry: industry: 22% industry: 25.6% industry: 36%
13% services: 31% services: 73.7% services: 53%
Services: (FY 2014 est.) (2017) (2012 est.)
40%

Unemployme 4.10% Over 6% 4.11% 4.7%

nt 

Inflation 5.4% 4.95% -0.41% -1.13%

Most Brand ✓ ✓

Recognition

Most likely to ✓ ✓

have the
highest
demand

Easier route to ✓ ✓ ✓

export 

Conclusion
Cats eye has shown exceptional entrepreneurship and achieved high recognition by
creating a different corporate culture in the garment industry. The country we have
chosen to export is, in India. As shown in the chart above, India and Malaysia have
shown more growth in terms of exports and are the perfect countries for us to export
our CATS EYE products to. We have done a detailed comparison for three of the
countries that we have chosen and the most efficient and the best country for us to
export would be India considering the population, GDP and taking into account the
political and the economical factors. CAT'S EYE LTD is a renowned brand in
Bangladesh and we want the brand to hold its image and not be a “No name” Brand
so it will be best if we export to India as the currency difference isn't much and if we 
export to Singapore and Malaysia our brand would be lost and would lose its brand
image.All things considered our main target is to establish our export business in
India. The main objective is to increase the market of buyers to international level, as
we are going to export our ready made products to three selected countries –
Singapore, India, Malaysia. We are eager to see good feedback from these three
countries and expand our export of products to other countries as well.
 References:

1. https://catseye.com.bd/
2. https://culturalatlas.sbs.com.au/singaporean-culture/singaporean-culture-
religion
3. https://tradingeconomics.com/singapore/exports/bangladesh
4. https://fastcorp.sg/?
gclid=CjwKCAiA_9r_BRBZEiwAHZ_v168Zowwnwt1TT4urovWD2sIfUZ8nwg
okcS5X598LrFmiCjFilRIGxRoC6GAQAvD_BwE
5. https://www.mha.gov.in/sites/default/files/EighthSchedule_19052017.pdf?
fbclid=IwAR0PaVAza4JyYpKKYuL124NX7Iz7vlDEbQg9Xq635P2Fm4ZZcnZ
T_FJukuM
6. https://en.wikipedia.org/wiki/Religion_in_India?
fbclid=IwAR0oSHZ4UMhfnZI8tKGU1UTW1Si-Aysslh5MKCUlmVqjjgC7Wg-
BIHWeCs4