GLINK ARTS GLOBAL GROUP, INC.
I. COMPANY OVERVIEW
On March 19, 2021, the company plans to change its corporate name to Glink Arts Global Group, Inc.
Our company’s core business activities include the creating, selling, distributing, and franchising of high-quality art paintings while also providing a system to connect customers and service providers through the use of unique and advanced technology-based applications.
All paintings, including digital paintings, are sold under the exclusive Trademark and Pen Name of our company’s founder: David Chinh Truong. As an artist himself, Mr. David Truong has won five international fine arts awards, in which he has been the only person to receive this prestigious award for five consecutive years. He is one of sixty famous painters voted for by the International Art Association and the recipient of the best American prize.
Our company strives to become one of the leading players in the art industry internationally. We strive to be become the top standard as efficient distributors and as the most valuable, strategic partner to major domestic and foreign manufacturers and traders.
The following SWOT analysis describes the strengths and weaknesses of our company. It also describes the future opportunities and possible threats the company has to deal with.
- Growing interest of paintings by artist David Truong within the Vietnamese population Glink brand paintings in general are also attract attention from the younger population
- Glink’s art works are fully copyrighted to ensure prestige, and high value for customers
- Ability to quickly adapt to the changing environment including building up its own online and digital art sales
- Efficiently eliminating printed catalogues, excess packaging in art shipping and handling
- Strong network of dealerships and customer memberships
- Glink is a relatively new company and must compete with well established and much larger art businesses in Vietnam and internationally
- Steady growth rate of demand for pictures and paintings globally are expected for the period 2021-2026
- Strong demand for pictures and paintings in Vietnam for 2021-2026
- Glink has established a foothold, and continue to penetrate the Vietnamese art market
- Vietnamese government supports and encourages private enterprises
- Glink capitalized its success in Vietnam, and expands its business model to the USA
- Well established art businesses and companies
- Covid-19 pandemic affects consumer demand
- Slow down or disruptions in the supply chain, distribution and delivery of orders
- Consumers taste in paintings and arts change rapidly
- Rapid advancement in technology and its impact in the art industry
II. INDUSTRY ANALYSIS
Due to COVID-19, the art industry has gone through a challenging period where its market shrank by 22% in 2020 – a decrease from $64.4 billion in sales in 2019 to $50.1 billion last year (Clare McAndrew’s “The Art Market 2021” report). However, the pandemic also forced and transformed much of the art world to shift its approach toward online and digital mediums, thereby creating new unexpected demands and opportunities.
Despite the challenges from the pandemic crisis, the art world will continue to make strides in terms of sales volume as art itself shifts to reflect the preferences, tastes, and values of the buyers and art collectors.
In 2021, it was highlighted that the significant growth in digital art sales and the increase in the number of high-net-worth (HNW) collectors have the greatest impact in dampening the full effect of the contraction.
According to Benjamin Sutton (What Collectors Need to Know from the Art Market 2021 Report), the number of billionaires in the world rose by 7% in 2020. Among the HNW, two-thirds of the respondents said that the pandemic had increased their interest in art collecting while millennials in the report being the biggest spenders.
Meanwhile, the strength of the market in Asia saw a steep change in 2020 with a steady influx of new, younger buyers and a radically expanded buyer base.
Vietnam’s art market Analysis
In the 1990s, the Vietnamese art market was small and fragmented in which art products were targeted and sold mainly to traveling foreigners at a low-end price range. However, with the tremendous economic growth recently, especially in the housing and construction industries and an increase in the number of middle income and HNW individuals, have created a huge demand for artworks and art collecting for both personal collecting and commercial decorating.
According to Art Researcher Quan Nguyen and Vietnamese economists, the forecast demand for art pieces and paintings in Vietnam are expected to increase on an average of 10 – 12% per year (in the period of 2021 – 2025). It is expected that by 2025, the country will need to sell around 20 to 40 million copies of art pieces to meet the domestic demand in Vietnam and for tourists from around the world.
III. CUSTOMER ANALYSIS
Currently, our company has three main categories of customers: Agent Customers, VIP Customers, and Retail Customers. The highest concentration of output is still agent customers who account for 60% of the sales revenue.
In 2022, our company will focus our efforts in the Southern region of Vietnam due to its strong economic development, geographical advantages, and growing desire to own and collect high-valued paintings and artworks (which accounted for 55% of sales in 2021). Wall paintings are particularly popular in South Vietnam. Digital and hand-painted art are also becoming a potential market in the upcoming years.
Our company also partners with real estate developers in all sectors including residential buildings, high-density apartments, high rises, hotels, resorts, and restaurants. Our company provides large-scale pictures as decorative packages to these industries.
Our next step up is to bring the same level of method of operation to the US market in 2023 and eventually to the international market soon afterward.
IV. COMPETITIVE ANALYSIS
There is little direct competition from our competitors. This is due to our unique paintings from the artist himself in which these paintings are created, distributed, franchised, copyrighted, and sold exclusively under the company’s trademark.
Our company also employed its own innovative system of operation and management to connect its customers, partners, and investors through the use of advanced technology-based applications. This feature puts our company on a class of its own – our trumps.
V. MARKETING PLAN
Our company will apply multiple strategies in our Marketing and Sales Plan:
The Glink Brand
Glink Brand provides unique value propositions:
- Offering high-quality, local and international paintings from Artist David Truong
- Providing excellent customer service ranging from a hands-on sales teams to effective distribution and delivery options
Our company expects a wide range of target markets including commercial and business partners in various industries and for individuals living in major cities in Vietnam.
- Advertising through social media platforms, television stations, internet, etc.
- Public relations through press release and announcements regarding special events and auctions
- Ongoing customer communications to keep clients well-informed of company activities
Increases sales staff who hold two to three years of experience in the industry. These members will bring products directly to the customers.
- Create membership cards and loyalty cards
- Consulting products
- Gift wrapping service for free or at a reasonable fee
- Executive Membership for important customers with special care and services
- Supporting customer service functions
Customer care management
- Provide statistics on purchase history and sales
- Order status
- Update customer feedback and resolve issues
- Manage security to access the system
- Monitor the quality of employees’ direct contact with customers.
VI. OPERATIONAL PLAN
In order to successfully implement our company’s business model, the company will execute a multipronged approach as follows:
- Expand online sales
- Focus on wholesale channels
- Increase market share, and
- Effective resource allocation
Our company plans to measure how successfully we execute our operational plans by reviewing indicators such as the company’s:
- market share, and growth in market share
- product quality
- brand reputation
- production performance
- personnel performance
- distribution network
- sales volume and profit margins.
Our company currently operates galleries, offices, and warehouses in Vietnam and in the United States. Our company has a strong workforce of professional sales staff, associate sales staff, and over two thousand customer memberships.
VII. MANAGEMENT TEAM
Mr. David Truong
Mr. David Truong has over 20 years of intensive painting and artistic research, over 40 years in the music industry, and over 18 years as an entrepreneur. He holds a Bachelor of Economics from Europe and has worked as financial consultant in the field of technology.
As an artist, Mr. David Truong has won 5 international fine arts awards; in which he has been the only person to receive this prestigious award for 5 consecutive years. He is one of 60 famous painters voted by the International Art Association and the recipient of the best American prize.
As a musician, Mr. David Truong garnered first prize in the music of the monochord at the age of eighteen. He has performed his own compositions for audiences in over 50 countries worldwide. He is currently a Music Pastor specializing in Christian music. He has also been recognized for having written many well-loved romantic songs. Mr. David Truong is the founder of the “Glink” brand name which includes: Glink Arts, Glink Shop, Glink Media, Glink News, Glink Tube, Glink Education, Glink Film Star, Glink Coffee, Glink Water and Glink Amazing Church.
Mr. David Truong actively involves and supports several charitable programs in Vietnam and the USA. He is also an active sponsor of several Christian ministries such as the Hometown Humanitarian Center and the Pastors’ Children Scholarships Fund.
He is a devoted missionary with the focus on glorifying and expanding the Kingdom of God. His motto is “SUCCESS BECAUSE YOU OBEY & TRUST IN GOD”.
Mr. Steve Truong
Mr. Truong brings to the company a wealth of comprehensive knowledge in the areas of operation, finance, general management, strategic research and analysis, policy development and investigation. He holds a Bachelor of Economics from the University of Waterloo, a Bachelor of Business Administration from Simon Fraser University, a Master of Business Administration from Taft University, and is currently pursuing a Doctor of Business Administration from California Southern University.
Mr. Truong has work experience in both private and public sectors. He has held various senior positions during his career. Previously, as a Naval Officer with the Royal Canadian Navy, he coordinated, liaised, and provided logistical support to operational and administrative military units at a national and international level, including the Canadian Armed Forces’ United Nations (UN) taskings.
His current role involves negotiating and arranging debt financing and equity investment between international lending and investment institutions and for clients seeking funding for projects. He is active in assisting with Mergers and Acquisition activities, as well as assisting private companies get listed in the US Stock Exchange. He holds a Series 65 license – Uniform Investment Advisers from the North American Securities Administrators Associations. Administrators Association.
Other Key Members
The management team is also supported by the Board of Directors, Legal Counsel, Certified Public Accountant, Auditor, Investment Advisor and other professional and administrative staff.
VIII. FINANCIAL PLAN
Our company expects to generate revenue from several sources:
- Art galleries
- International online sales
- Special events and auctions
- Other miscellaneous sales
The following are some of the normal and recurring operating expenses:
- Sales commission
- Advertising and promotion
- Professional fees
- Legal fees
- Office expenses
- Rent expenses
• Automobile expenses
Our company offers high-value, exclusive paintings from a world-class artist: Mr. David Chinh Truong.
Our company implements our own innovative methods of operating and managing our business. This will set us apart and give us an edge over our competitors.
Our company’s vision, mission, core values, quality commitment policy, effective and efficient supply and distribution chains and logistics, combined with our experienced and professional management team, sales and marketing staff will put our company at the forefront of the art industry.