SHARPER IMAGE CORPORATION
Sharper Image Corporation is a San Francisco-based specialty retailing company. They are known for their original, innovative, high-quality gizmos and gadgets that no one really needs, but would like to have. They produce products in the categories of electronics, recreation, fitness, personal care, house ware, travel, and toys. Sharper Image sells products from three sources: Sharper Image Design propriety products, private label products, and branded products. The propriety products are researched and designed by Sharper Image. Private label products are produced by other manufactures, but features and functions are changed so they will be unique to Sharper Image. Branded products are distinctive products sold only in Sharper Image stores.
Sharper Image was founded in 1977 and went public in 1987. It started as a mail-order company, but later opened its first store in 1984. Sharper Image also expanded to the Internet market by opening its site in 1999.
It now has a total of 1,400 employees and about 100 stores throughout the United States (Sharper Image 2001).
One of Sharper Images' strongest strength is its diverse methods of selling their products. Sharper Image owns and operates 97 stores thought the United States. Usually located in malls, Sharper Image stores generates a lot of traffic, resulting in a lot of business. Their stores are their largest source of income, accounting for roughly 60% of their total sales. The famous Sharper Image Catalog is their next highest source of revenue, bringing in 20% of sales. The catalog is sent monthly to over 7.9 million people. Their most recent sales channel is their Internet web site, which opened in July of 1999. Their Internet revenues are increasing rapidly, they make up 14% of total sales (SHRP Reports Increase 2001).
Sharper Image Propriety Products
The primary driver...