The company presentation of Globe Hope gave some valuable insights into the ideas behind Globe Hope as well as on how small companies actually do business.
The idea to design clothes that are made out of used or discarded materials strongly focuses on how consumers can behave more eco-friendly but still consume. Globe Hope has a simple offer to their customers: if you buy our clothes you act eco-friendly and get unique design. This naturally leads to a niche market as ecological aspects are strongly emphasized.
In addition, Globe Hope produces locally which can be considered as not only contributing to the ecological but also to the social bottom line. However, as it has already been highlighted in another blog-post, the production of the initial, original clothes might have not happened under appropriate social standards.
Taking on an economic perspective underlines how many small companies do business, which is often not characterized by strategic decisions. Location choices were not strategic decisions. Regarding the second location in Helsinki, Globe Hope was able to seize an opportunity of getting the shop without having actually planned to open a new shop beforehand. This spontaneity allowed Globe Hope to seize an opportunity which a bigger and more structured company might have lost. Furthermore, Globe Hope does not do any paid advertising. To me it seemed that marketing was only connected to the “dark side” of marketing and only referred to advertising. Actually Globe Hope does marketing: it uses PR approaches, product placements and social media to sell their clothes. A key aspect to market the clothes is the story behind the item. Customers value that their new piece was something else before. This aspect was also used to justify higher prices. However, regarding pricing it was said that they used cost-based pricing and sometimes even have to guess which price might be appropriate.
To me Globe Hope seems to be a company that is truly trying to contribute to sustainable development. Keeping social and ecological aspects in mind there might still be some room for optimizing the management of their business.