Mad Koffee: Will a Local Bangladesh F-Commerce

Company Survive in the International Arena?

Author: Raisa Tasneem Zaman, Amin Hannan Chowdhury

Pub. Date: 2022
Product: Sage Business Cases
DOI: https://doi.org/10.4135/9781529774481
Disciplines: Business & Management, Business Ethics & Corporate Social Responsibility,
Strategic Management, Strategic Management & Business Policy (general), Sustainability, Other
Management Specialties, Crisis Management
Access Date: June 26, 2023
Publishing Company: SAGE Publications: SAGE Business Cases Originals
City: London
Online ISBN: 9781529774481

© 2022 SAGE Publications: SAGE Business Cases Originals All Rights Reserved.
Sage Sage Business Cases
© Raisa Tasneem Zaman and Amin Hannan Chowdhury 2022

This case was prepared for inclusion in SAGE Business Cases primarily as a basis for classroom dis-
cussion or self-study, and is not meant to illustrate either effective or ineffective management styles.
Nothing herein shall be deemed to be an endorsement of any kind. This case is for scholarly, educa-
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used for other commercial purposes.

This content may only be distributed for use within University of Greenwich.

2023 Sage Publications, Inc. All Rights Reserved

Abstract

Mad Koffee is Bangladeshi F-commerce company that needs to choose between multiple modes of
entry to move its business into the international arena. Although doing business via the F-commerce
platform has its merits, such as ease of operability and low start-up capital requirements, the platform
is not perfect. Mad Koffee previously earned its reputation through positive word of mouth when the
company went viral for its trendy designs; that word of mouth changed when the company faced a
backlash on social media as reviews about its T-shirts bleeding their color went viral. As a result of this
problem and the stiff competition in its original market, it was difficult for Mad Koffee to operate locally,
hence it needed to determine a route to go global. Although case details are specific to the context of
a developing country and the F-commerce industry, the principles involved apply to business strategy,
and competitive and driving forces faced by business everywhere.

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Case

Introduction

Growing up, Amin watched both his parents try to earn a decent living by working at two full-time jobs. This
experience made Amin realize that life would not be easy and if he wanted something, he would have to work
hard to get it. It also helped him understand the importance of money, especially as he lived on a tight budget
early in his career.

Amin started his first business, Mad Koffee, in 2017 from his 150 sq. ft. room that he used to share with his
brother in Chittagong, Bangladesh. With the money that he saved from tutoring, Amin went to a factory to
print a few T-shirts. To support Amin, his friends bought the first batch of T-shirts. Positive word on the T-shirt
collection quickly spread. After the successful sale of four consecutive batches of shirts, Amin rented a small
printing shop to print his T-shirts. To cut the costs of setting up and maintaining a physical store, Mad Koffee
initially started selling its T-shirts on Facebook, where one of the T-shirt designs went viral.

Within a few months of its first sale in 2017, Mad Koffee became a popular place for youngsters all over
Bangladesh to obtain their favorite T-shirts and lifestyle products. The company started its business selling

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T-shirts with relatable quotes and designs and branched out to other products such as pillows, notebooks,
and phone covers in 2018.

Although the first few months were very successful for Mad Koffee, after a year the company came into the
limelight for all the wrong reasons. After a T-shirt was found defective by a customer, word spread and so did
the negative perception of the brand. Amin had to stop sales for that particular batch and hold the inventory.
At the same time, the company was struggling to compete in the saturated e-commerce market. With this se-
ries of events Mad Koffee was in decline and Amin had some serious decisions to make. He wanted to stay in
the e-commerce space, but his original Bangladeshi market wasn’t allowing for growth or sustainability. Was
it time to expand into a new market? How could he go global and find success?

Company Development and Organization

In 2017, Mad Koffee started with the concept of selling licensed merchandise that was not available in the
market to local consumers. Amin grew up watching his favorite TV shows such as Friends and was a big fan
of the Marvel universe. However, he could not find good quality merchandise, let alone licensed merchan-
dise in Bangladesh. Amin’s vision for the company was to create their own designs and build credibility which
would attract local artists to work with Mad Koffee. After local artists were signed up as part of the company,
Amin envisioned working with big brands like Disney in the future.

As of 2017, Amin looked after the day-to-day operations and product development. He led the entire team and
ensured that the team was aligned with the company’s vision. Mad Koffee became a premium merchandising
brand mainly catering to the Millennial and Gen Z consumers in Bangladesh, with the majority being female
consumers aged from 19 to their mid-30s. Amin was interested in Millennials, who focused on experiences
VRIO over the final product. To target this market, he made it a priority to ensure that customers loved the over-
all experience of shopping online through Mad Koffee. Each time a customer bought something, they would
receive something extra such as small notebooks, stickers, or a cute note. Mad Koffee also started to offer
bundles of branded merchandise. Such small gestures of going the extra mile for the customer resulted in
Mad Koffee earning 5-star ratings in the F-commerce market.

While the majority of the company’s revenue came from their own designed merchandise, Amin soon realized
that there was a lot of money to be made from designs requested by customers for corporate events and

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special occasions, like rag days (when students dress up to raise money for charities). Such orders were
VRIO
also easier to generate as the company had built a good reputation since its inception. Thus, in addition to
selling directly to customers via F-commerce, Mad Koffee also fulfilled orders for small events like rag days,
birthday parties, and corporate events (Table 1). The company mostly outsourced the production work due
to the financial constraints and did print-on-demand orders. Supply was never a concern for the company as

Porter's Bangladesh had close to 5,000 garment factories at the time, (BGMEA, 2020) making it easy to find vendors
for production of merchandise.

Table 1. Income Statement of Mad Koffee, 2018 and 2017 (USD)

2018 2017

Revenue

Phone cover 1,552.94 -

T-shirts 10,588.24 4,705.88

Mugs 941.18 364.71

Event and occasion merchandise 4,117.65 2,352.94

Celebrity merchandise 2,941.18 1,411.76

Total Revenues 20,141.18 8,835.29

Expenses

Advertising 1,764.71 1,164.71

Cast of goods sold 8,056.47 3,534.12

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The company operated in a very simplified model. A bunch of young in-house artists collaborated and worked
on new designs every week. Each week they worked on different concepts and leveraged any trend that was
active on social media. The designs were then posted on T-shirts, mugs, phone covers, and other items to
see if it worked. When the designs were finalized, two to three Facebook posts were made, based on those
VRIO
designs, for customers to choose from a range of possibilities. Different puns were also used to make sure
consumers engaged with the content, since engagement played a huge role in the Facebook algorithm. For
example, there was a series called “Know your T-shirt” where three facts were shared about the T-shirts used
by Mad Koffee. When a customer replied or commented on the post to place an order, a dedicated team of
social media managers replied to those comments and an order was placed. The team had a blend of young
talent, mostly university students, to resonate with the Gen Z audience, and had an experienced individual to
guide them.

Facebook and Commerce

Initially, Amin wanted to replicate the model used in the United States, where customers would purchase
merchandise from a website. However, upon conducting research on consumers in Bangladesh, Amin found
that buying patterns differed from developed nations, as consumers in Bangladesh wanted to interact before

PESTLE purchasing. Hence, consumers in Bangladesh preferred to shop through Facebook rather than on an e-com-

merce website. This research prompted Amin to keep Mad Koffee focused on a marketplace based on the
Facebook platform, popularly known as F-commerce, and build the brand through it (See Appendix).

According to Facebook statistics, there were about 450 million active users globally (Zhos, 2016) who visited
PESTLE
“buy and sell” groups each month in 2016. Keeping that in mind, Facebook launched its own marketplace in
2016 as a way for users to buy and sell locally (Zhos, 2016). The user interface made Facebook accessible
to all sorts of demographics. The accessibility made customers more prone to purchasing with real reviews
and data about the company. Moreover, anyone could set up their F-stores for free with no experience, which PORTER
made it more convenient than setting up an e-commerce website that required some experience. From the
consumer end, the minimum basics required to take part in F-commerce were access to a smartphone and
the internet.

Upon conducting secondary market research, Amin realized that Bangladesh—the fifth largest mobile market
PESTLE
in the Asia Pacific (GSM Association, 2018)—was experiencing an increase in demand for F-commerce busi-

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ness. The reasons for this were interesting to Amin. The upsurge in smartphone penetration was being driven
by declining mobile prices making it more accessible to the greater population, notably in suburban and rural
areas (GSM Association, 2018). Internet penetration had also been rising in Bangladesh, with growing inter-
net subscriptions, amounting to over 90 million as of September 2018 (IDLC, 2018). Moreover, 43% of the
PESTLE
population was under the age of 25 (CIA, 2018); they had become accustomed to technology and viewed
functions like F-commerce as a boon when it came to convenience. Additionally, Amin knew that traffic condi-
tions in Bangladesh were getting worse—the average speed of traffic movement had dropped from 21 km/h
to 7 km/h, and if this condition was not rectified, the speed was likely to drop further, to 3 km/h (Haider, 2018).
Amin reasoned that all the above conditions combined meant more people would prefer to shop online.

Further market research uncovered that people in Bangladesh still preferred to pay with cash as most people
did not have a bank account, or they wanted to pay only after seeing the actual product. E-commerce giants
PESTLE like Shopify, that charged operators as little as USD 30 a month, were not available in Bangladesh. To set
up and maintain a website, Amin would need to use a third-party agency and spend at least USD 200 every
month. Compared to all of this, Amin preferred F-commerce; it had almost no cost and he only had to pay
USD 50 a month per social media manager, who could respond to queries and look after the inventory. VRIO

Another advantage of starting an F-commerce initiative for Amin was the reach. Unlike traditional businesses,
where a large part of the struggle, despite having good product, was to find and reach the target customer
base, F-commerce based on a social platform slashed through this issue with a bit of savvy management.
Moreover, from Mad Koffee’s consumers’ point of view, the biggest advantage derived from Amin’s platform

PESTLE was the ease of browsing through tons of products from the comfort of your own place, and the flexibility
VRIO
of time. This advantage was tempered by a distinct disadvantage, however—lack of consumer trust (IDLC,
2018). Consumers often perceived that companies would not provide what was advertised online and as
such, there was consumer inertia when it came to purchasing products from F-commerce vendors, like Mad
Koffee. This ultimately influenced Mad Koffee’s profitability.

Amin soon understood that deriving profits using F-commerce was not as easy as it seemed. Since the bar-
riers to enter F-commerce were low, given that anyone with a Facebook account could start a business, the
PORTER'Smarket where Amin operated was becoming saturated. A major problem Mad Koffee faced was new players

selling at a comparatively cheaper price in order to capture the market. Given that Bangladesh was a price-
sensitive market and the platform made it easier for consumers to compare prices and quality between two
sellers, it was becoming increasingly difficult for Mad Koffee to compete at higher prices. For instance, the

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factory from where Mad Koffee used to outsource their products had also started their own Facebook page
where it sold the products at the cost price. Such factors meant that Mad Koffee’s profitability greatly suffered.

Prominent Players in a Saturated Market

By the end of 2017, Mad Koffee had already been in business for a year and had earned a significant positive
reputation in the market. As a newcomer, the company had significant growth, and many people knew about
the brand. In its inception year, Mad Koffee had become one of the top local brands in Bangladesh with an
VRIO
active following of 10,000 people across social media channels. There was ample opportunity for Mad Koffee
to grow its business. But it also meant that small local players with similar products were entering the plat-
form, as such startups needed very little capital. The F-commerce marketplace was becoming saturated, with
many small companies, such as One Ummah BD.
PORTER'S

In the same year, the e-commerce market had made a quantum leap, growing at a whopping 70% from 2016
(IDLC, 2018). The prominent market players in the e-commerce industry, like Daraz and Pickaboo, had well-
established websites displaying and holding a diverse range of products, and could spend huge amounts of
money on advertising. Even though Daraz and Pickaboo were not solely operating in the apparels industry,
they still managed to have an impact on it due to the capital they had. Since these companies were funded
PORTER'S by international companies, they were able to spend more money to acquire customers. This made it tough

for Mad Koffee to keep up with the competition, although as a company they were still profitable. The market
was still growing enough making it possible for every player to have a slice of the market pie; however it was
alarming for Amin, because the competitors, especially in the e-commerce market, had the biggest market
share. By late 2017, competitors started spending on social media channels, taking them ahead in the F-com-
merce race (Table 2). It was about time for Amin to make a choice. Should Mad Koffee stay in this market and
compete with the big players, or should it move to a new market and start from scratch?

Table 2. Major Mad Koffee Competitors and Their Sales (USD)

2017 2018 2019 Average amount of sales revenue per ad spend

Daraz Apparels 15,788.24 57,905.88 64,588.24 0.29

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Pickaboo 17,788.24 41,317.65 55,294.12 0.25

porter's
One Ummah BD 7,305.88 32,129.41 37,764.71 0.14

Mad Koffee 8,835.29 20,141.18 20,588.24 0.12

Source: Author’s compilation based on own market research

To compete with the big players, Mad Koffee required a capital of USD 95,000. This was required mainly
to have enough inventory, worth USD 47,000, USD 12,000 for setting up the space and system, and USD
36,000 for Facebook advertising. Facebook had also stopped and lowered organic growth. This meant to get
customers and any sort of conversion, page owners had to spend money and sponsor a post. Amin needed
VRIO
money to compete. He applied for a loan but the bank declined the application because, as a startup, Mad
Koffee did not have enough credibility to get approval for loans.

Amin also worried that no amount of capital would suffice for the company to compete with the big players. Af-
ter Daraz, one of the country’s top e-commerce sites, was acquired by Alibaba the company branched out to
PORTER'S multiple sectors including apparel, home appliances, and electronics. Alibaba also partnered with local brands

and became a marketplace for these vendors. This further helped Daraz to add a wide range of products to
their website, making it one of the top websites in Bangladesh.

It was this stiff competition and saturated market that led Amin to branch out to different product lines in 2018.
In addition to selling T-shirts, the company went on to sell pillows, phone covers, and notebooks—products
that matched with the interest of its target Millennial consumer and kept Mad Koffee aligned with its brand
VRIO identity. The new strategy led to a spike in sales, and Amin realized that diversification was the key to sus-
tainability for Mad Koffee. Furthermore, this resulted in people purchasing multiple products while checking
the Facebook page for Mad Koffee’s bundle offers, making the consumers feel that they got value for their
money.

In 2019, the young team behind the social media won two awards in the country’s biggest Digital Marketing

VRIO Awards in the “Best Use of Social Media” category and for creating a sales funnel through digital platforms.
The awards helped Mad Koffee receive much credibility and offered a huge PR boost, as all the top influ-
encers shared the news on their dedicated platforms. The impact was so huge that just two days after the

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announcement of the award, all the products in stock were sold out. This pushed Mad Koffee to become one
of the most-followed social media pages in the apparel brand category in Bangladesh in 2019. It also has
obtained a 4.9-star review on its page for its reputation. Amin felt that it was now time to target the big giants
like Disney and Marvel licensed merchandise and turn his vision into reality.

Brand Reputation at Stake

With rising hopes from 2018’s success, Mr. Amin steered Mad Koffee into 2019, only to find a wealth of prob-
lems. Mad Koffee often worked with multiple vendors to procure better deals in the production of its merchan-
dise. Due to its good credit reputation, Mad Koffee had no trouble securing suppliers. However, the struggle
PESTLE
PORTER'S
to find a factory that was eco-friendly and ensured workers’ safety was difficult, as most factories did not take
this into consideration. During the early days of Mad Koffee, Amin did not know the importance of these is-
sues and partnered with factories that offered a cheaper rate. But, in 2019 when Mad Koffee was trying to
seal international deals, Amin was losing those deals because all the deals had a clause requiring the pro-
duction of apparels in an eco-friendly environment. International companies followed the guidelines of the
PESTLE
PORTER'SInternational Labor Organization (ILO) and the International Finance Corporation (IFC) emphasized workers’

safety. Not being able to work with socially responsible suppliers was hampering Amin’s brand reputation in
the international arena.

Despite the drawbacks, Amin continued working with multiple vendors, because of the benefits. For instance,
suppliers would sometimes charge Amin 5% lower than they would normally, as a result of his company policy
of paying 50% advance and the reputation of always clearing the due in time. However, in pursuing multiple
vendors, Mad Koffee encountered a big blunder. While experimenting with a new vendor, there was a mas-
sive fall in product quality. One of the batches of T-shirts had an issue with the color, and those T-shirts were
VRIO bleeding colors after wearing. The quality control department had not done a wash test. To add to the prob-
PORTER'S
lem, one of the social media influencers received a defective Mad Koffee T-shirt in August, 2019. A week later,
she posted about the problem on Facebook: how the T-shirt had caused much damage to her other clothes
and she had come up in a rash after wearing it. The post from the influencer provoked other customers to
come out and complain on multiple social media channels and accounts.

Amin thought that was the end of the brand, as the negative review quickly spread across the internet. All
confirmed orders from customers were cancelled. According to the contract, if there was any damage to the

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product, the vendor who worked for Mad Koffee would be held accountable and bound to take the merchan-
dise back with full refund. However, when Amin tried to reach out to the supplier of defective shirts, the sup-
plier was nowhere to be found.

To heal some of the damage, Amin sold all the damaged products to street vendors at 1/8th of the price,
losing over approximately USD 4,117 in ‘Returns and Replacements’ costs. It was clear that the reputation of
the brand was severely damaged and something had to be done urgently to turn things around. In order to
fix things, one of the social media managers tried to reach out to the influencer offering to pay them a certain
VRIO amount of money to take down the post now that the quality control issue was corrected. That strategy back-
fired, adding fuel to the fire and making matters worse as negative posts continued online about Mad Koffee,
thus, hampering its credibility online. Mad Koffee never publicly released a statement about the blunder that
led to a drop in the company sales, especially for T-shirts, approximately from USD 10,588 to USD 7,058
(Table 3). The company thought best to not speak about it because it believed owning up to the mistake would
lead to further damage.

Table 3. Income Statement of Mad Koffee, 2019 (USD)

2019

Revenue

Phone covers 2,117.65

T-shirts 7,085.82

Mugs 1,411.76

Event and occasion merchandise 5,882.35

Celebrity merchandise 4,117.65

Total Revenues 20,5884.24

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Income tax expense (15%) 0

Net Income (858.82)

Source: Authors’ compilation based on data collected from conversation with the owner.

The Way Forward

With increased competition cutting into sales, and now the brand damage, Amin was devastated and needed
to pivot. He wanted to work for international giants like Walt Disney and Marvel as a licensed merchandiser,
but now his vision seemed to blur. With the loss in credibility online, Mad Koffee experienced a rapid decline
in sales and the company even struggled to pay off fixed costs at times.

Moreover, Mad Koffee’s current bad reputation made it tough to do business locally, which made Amin lose
interest in the local market. His assumption for the local market was that customers never bought orders in
bulk from online and mostly preferred shopping from street sides of Dhaka College, where the street vendors
PORTER'S
would sell branded clothes at a much lower price. Local customers were likely to buy branded clothes that
were rejected for minor issues over locally designed higher-priced merchandise like those of Mad Koffee’s.

A year of ups and downs later, Conan CK reached out to Amin, in early 2020. He was a multi-millionaire who
wanted to source products from Bangladesh for his global apparel brand CK, based in the United States. CK
was a reputable brand globally and was looking to partner up with someone who would look after the oper-
PORTER'S
ations locally and supply the products. Conan CK reached out after browsing through Facebook and coming
across Mad Koffee. He was surprised to see the selling price of the products compared to the quality of the
items and knew the cost price would be much lower and wanted to get on board. After a trial order with Mad
Koffee, the international buyer was very pleased with the product quality and offered to partner up with Mad
Koffee.

The deal proposed between Mad Koffee and Conan CK was that the latter would purchase Mad Koffee’s
products to broaden its apparel lines. Conan CK would also have exclusive license to all sorts of designs
PORTER'S
created by Mad Koffee. For every product sold, Mad Koffee would receive a 30% royalty fee. The cost of pro-
duction would be borne by Conan CK while the production would be done in Bangladesh. When Amin figured

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out that the profit margins of each product sold in the United States would be roughly USD 17 per T-shirt,
considering the base price of a T-shirt was USD 20, he knew this would be a better business model going
forward, as he would receive a 30% royalty off this profit margin.

Amin initially had the idea of franchising, in order to have more bragging rights, but he was keener to partner
up with Conan CK for the brand’s achievements globally. Mad Koffee would be more likely to succeed with
PORTER'S
the experience of Conan, but Amin would end up losing the majority of his ownership over the business. After
multiple conversations with Conan CK, Amin could conclude that Conan was visionary and an authoritarian.
For the long run, Conan could be someone Amin could count-on.

However, CK was not the only option Amin had. He also had an offer from Aadi, a freight-forwarding company
that sold local products to the international market. It would be a potential distribution agreement between
Aadi and Mad Koffee for the latter’s products to be sold internationally through a distributing partner. The
most significant advantage of partnering up with Aadi was that local companies, like Mad Koffee, could sell
PORTER'S
single products in the international market. The incentive for Aadi was to take 40% of the selling price, which
seemed fair. However, Mad Koffee would be responsible for all marketing and customer acquisition. Amin
was interested in the offer since it meant he could retain his full right over Mad Koffee, but he also feared
competing in the international market as the company did not have any prior experience with marketing in the
international arena.

Just as Amin was in the middle of picking the best route to launch his brand internationally, the global
PESTLE
COVID-19 pandemic hit (GDA, 2020). The world shut down, and this impacted sales of merchandising heavi-
ly. Online apparel sales were down as people were putting more of their budgets into daily essentials (Meyer,
2020). With the assumption that most factories would have no orders from big apparels brands due to the
crisis, the government of Bangladesh ordered all factories to shut down. All of Mad Koffee’s orders with pro-
ducers were put on hold as a result, and most buyers were cancelling their current orders. Mad Koffee had
not prepared for such a crisis, and Amin knew that he had to make some significant changes in his business
strategy to survive the pandemic. He pivoted to offer fashionable personal protective equipment, including
VRIO
masks, and other essential items to meet local need. But what else could he do?

PORTER'S With increasing competition in a saturated local market, decreased brand reputation, and now a global crisis,

Mad Koffee was in a bad spot. Was this the right time to expand into a new market?

How could Amin grow and sustain Mad Koffee amidst these factors?

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References

Bangladesh Garment Manufacturers and Exporters Association (BGMEA). (2020). Bangladesh Garment
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Central Intelligence Agency (CIA). (2018). South Asia: Bangladesh – The World Factbook. Central Intelli-
gence Agency. https://www.cia.gov/the-world-factbook/countries/bangladesh/#people-and-society

Global Data Analysis (GDA). (2020). Coronavirus (COVID-19) Executive Briefing Global Data.
https://www.business.att.com/content/dam/attbusiness/briefs/att-globaldata-coronavirus-executive-brief-
ing.pdf

GSM Association. (2018). Country overview: Bangladesh – Mobile industry driving growth and enabling
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ca009553979bcdfb8fd5f2ef0&download

Haider, A. A. (2018, May 13). Traffic jam: The ugly side of Dhaka’s development. The Daily Star.
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IDLC. (2018, August). E-commerce of Bangladesh: Shaping the future of shopping. IDLC Monthly Business
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IDLC. (2018, December). IDLC Monthly Business Review. https://idlc.com/mbr/article.php?id=136

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Meyer, S. (2020). Understanding the COVID-19 Effect on Online Shopping Behavior. Bigcommerce.com.
https://www.bigcommerce.com/blog/covid-19-ecommerce/

Zhos., A. (2016, December 1). All you need to know about Facebook Marketplace in 2016. Amasty.com.
https://amasty.com/blog/need-know-facebook-marketplace-2016/

https://doi.org/10.4135/9781529774481

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