Document on the Global Strategic Planning
Added on 2020-06-04
11 Pages3246 Words109 Views
GLOBAL STRATEGICPLANNING(Michael Rubin, Kynetic LLC)
Table of ContentsPROFILE OF THE FIRM.................................................................................................................................1DEMOGRAPHIC PROFILE OF ENTREPRENEUR......................................................................................2MOTIVATION TO START UP BUSINESS...................................................................................................4FUTURE PLANS.............................................................................................................................................7REFERENCES...............................................................................................................................................10
PROFILE OF THE FIRMREF.DESCRIPTIONRESPONSE1.1Company Age Kynetic LLC (2012)1.2SizeIn 2010, GSI (Global Sports Inc) became the largestinternet company which merchandise in billions of dollarwith revenue of $1.4 billion with a workforce of 5000employees. eBay diverse certain assets into Kynetic, inwhich, all sport merchandising operations transferred intoFanatics along with 70% ownership in Rue La La as well asShop Runner. In 2010, When GSI purchased Fanatics it hadreported a revenue & operating profit of $186.3 million &$23.8 million. In 2013, its Fanatics Inc had generated aturnover of $3.1 billion (Bensinger, 2013). As per IBISreport, in US sport apparel industry, Fanatics Inc shown arapid growth @6% annually during 2010-2015 and in 2015,it is valued at $8.3 billion and it is expected to grow 2.74%per year till 2019 (IPO Prospects: Fanatics Expanding ItsPlaying Field, 2016). 1.3Industry sector Kynetic LLC operates in E-commerce industry. Its offeringcovers following:Fanatics: Largest online retailer of sports merchandisingRue La La: one of the leading online private saledestination inside USShop Runner: Innovative services that drive shoppingbenefits from the top brands and retailers i,e. Clothing,cosmetics, beauty products, electronics, sport goods, toys,pet supplies, Luggage, games, automotive parts, baby gearand others (Kynetic LL, 2015). 1.4Main marketsUS market 1.5If international, no. ofmarkets,It is looking for expanding its geographical presence. In arecent month, Fanatics had announced to acquire UK based1
% of sales as export company Kitbag at an estimated cost of $17 billion whichruns online operations in Europe such as NBA, NFL andother partners i.e. rugby, tennis, motor sports, Golf. DEMOGRAPHIC PROFILE OF ENTREPRENEURREF.DESCRIPTIONRESPONSE2.1Age, gender, education,marital status etc. Name: Michael G. Rubin Entrepreneur: Renowned internet entrepreneur Native: Philadelphia Birth year: 1972Age: 45 year Gender: Male Citizenship: United Status Education: Villanova University Belongs to: Jewish FamilyFather: Ken Rubin, VeterinarianMother: Paulette, PsychiatristMarital status: Divorced with his wife, Meegan Rubin whowas a local dance teacher and he also has 1 child. Currently, he is in relationship with his girlfriend, namedNicole Lapin who is a CNBC anchor. 2.2Prior work experience/sWorked for anotherbusinessWhen Rubin was only 8 years old, he sold avegetable seeds door to neighbourhood inPhiladelphia which indicates his entrepreneurship. In just 12 year, Rubin had started his ski shop withhis parents and just following 2 years, he had startedhis own shop formally in Conshohocken,Pennsylvania, US using only $2,500 received as agift from father. When he was 16 years old, he had taken a debt of$200,000 and loan worth $37,000 from his father.During this time, Rubin had expanded its ski shops2
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