2. Varshney Capital Corp.
Suite 2050 West Georgia Street
Vancouver, BC V6E 3P3
Canada
To Whom It May Concern:
Oiseau, the French translation for “bird,” is a San Francisco based contemporary
women's boutique that focuses exclusively on sustainable and eco-friendly fashion
and accessories. The store will ideally be located in Downtown Vancouver.
The goal of Oiseau is to show our customer that she doesn’t have to wear hemp
and tie-dye to be “green.” She can still be fun, playful, and fashionable. The store
will intend to carry a mix of basic and fashion items from brands that focus on the
idea of sustainability, such as Alternative Apparel, Loomstate, and Edun.
Oiseau seeks to target young women aged 18-30 who are urban, trend-aware,
and of course, interested in the environment and sustainability. Many of these
consumers would already live and shop in the downtown area. Yet the store can
also expect traffic from tourism, and from residents of other districts who visit the
downtown shopping area.
Pricing will be aligned with stores with somewhat similar demographics, especially
where they pertain to fashion-conscious, relatively affluent, Generation Y
consumers. Essentially, Oiseau will aim to replace items that would normally be
offered to this consumer with eco-friendly ones. The store will focus on products in
the contemporary price point.
Notably, Oiseau will essentially have no direct competition within the downtown
Vancouver area. While there are some stores focusing on eco-friendly clothing,
none seem to focus solely on contemporary fashion. Store that carry eco-
conscious lines are most often not promoting them as such.
Industry reports strongly suggest that not only does “green” fashion have a strong
and loyal following, but that the trend is expected to grow despite economic
adversity. In addition, the mission of the store is strongly aligned with the city’s
overall mission.
Oiseau would surely be a strong addition to Varshney Capital’s environmentally
conscious portfolio.
Sincerely,
Raylin Wright
Founder and Owner
3. Corporate and Product
Background
Oiseau, the French translation for “bird,” is a San
Francisco based contemporary women's boutique that
focuses exclusively on sustainable and eco-friendly
fashion and accessories
The company primarily targets women aged 18-30
who are urban, fashionable, trend-aware, and
interested in the environment and sustainability.
The target country for trade is Canada. Specifically,
Oiseau intends to extend its brand to Vancouver,
British Colombia. Vancouver is a relatively affluent,
young, technologically savvy cosmopolitan city with a
high interest in social and ethical activism.
4. Product Overview
Greg Alterman, founder of Alternative Apparel, once said in an interview,
”Everybody has to wear clothing, so you might as well wear something good for
the earth.”
Oiseau seeks to carry a mix of basic and fashion items from brands that focus on
the idea of sustainability.
Our goal is to show our customer that she doesn’t have to wear hemp and tie-
dye to be “green.” She can still be fun, playful, and fashionable. Below are brands
that Oiseau feel be key performance brands because of existing market
presence, assortment, and fashionability.
Clothing brands will remain largely static between US and Canadian channels.
Garment selections will vary based on regional differences, and of course,
consumer preferences.
It is important to note that Vancouver’s weather is markedly similar to San
Francisco’s. Both markets could potentially learn from each other, despite
geographical separation.
Alternative Apparel focuses on authenticity and comfort. In 1995, the company set
out to create the perfect t-shirt – one that was “designed for fashion, made for
comfort, and tailored for a flawless fit. The company has since expanded to
include a multitude of fashion garments. Oiseau will carry the lined titled Alternative
Earth, which focuses on eco-friendly and sustainable apparel.
www.alternativeapparel.com/alternativeearth
Alternative Earth will be Oiseau’s primary source of basic items such as tee shirts
(non-graphic), sweatshirts, jersey pants, and non-fashion cardigans. While
Alternative Earth is a diffusion line, consumers would likely recognize Alternative
Apparel.
5. The mission of Edun is to help build Africa as a viable source of production for
fashion. Founded on the premise of trade not aid, EDUN is a for profit business
that aims to raise awareness of the possibilities in Africa to encourage emulation.
To help achieve this goal, EDUN is investing in the development of a community-
based value chain, beginning with organic cotton. 3
www.edunonline.com
Edun would be a source of fashion apparel for Oiseau. Products would include
dresses, fashion tops, sweaters and cardigans, outerwear, and select graphic
tees.
Dedicated to creating a demand for organic cotton and socially responsible
methods of production, Loomstate focuses their design approach on their respect
for nature. Natural shapes and colors influence their casual clothing, which is
primarily made up of graphic tees and jeans.
www.loomstate.org
Loomstate will likely become the primary denim brand of Oiseau, both because of
their relatively wide assortment of styles, and because the brand is already well
known and will be familiar to consumers. Graphic tee shirts will also be included.
Loomstate does produce other garments such as fashion tops, dresses and
outerwear. Oiseau will consider these items, but they will be carried to a much
lesser extent than the brand’s denim or tee shirts.
6. Designed by a former sculptor and a fashion industry buff, Prairie Underground
creates unique, earth friendly garments crafted from organic cotton and wool.
www.prairieunderground.com
Prairie Underground will be Oiseau’s largest supplier of
outerwear. The company carries an impressive selection
of blazers and jackets, and fashion knits such as
sweatshirts, leggings, and dresses.
Oiseau will also consider merchandise and clothing that promotes a charity,
cause, or social issue. These items will be considered on a case-by-case basis.
7. Katharine Hamnett – Nahui Ollin - made by
for Enviornmental impoverished Mexicans
Justice Campaign to from discarded candy
end illegal fishing wrappers
In addition to providing consumer with sustainable merchandise, Oiseau seeks to
educate the public on the eco-conscious lifestyle. Publications might include Boho,
and Peppermint (from Australia). Books could include Green Chic, Eco-Chic: The
Fashion Paradox, and Style, Naturally.
8. Cultural, Political, Legal, and Economic
Background
History
“A land of vast distances and rich natural resources, Canada became
a self-governing dominion in 1867 while retaining ties to the British
crown. Economically and technologically the nation has developed in
parallel with the US, its neighbor to the south across an unfortified
border. Canada faces the political challenges of meeting public
demands for quality improvements in health care and education
services, as well as responding to the particular concerns of
predominantly francophone Quebec. Canada also aims to develop its
diverse energy resources while maintaining its commitment to the
environment.”
CIA World Factbook
Geography
Canada itself is a large, expansive country covering the majority of the northern
portion of North America. The topography is diverse – ranging from mountainous
terrains, to prairies, to vast forests, to shorelines, and even tundra in the most
northern regions of the country.
Vancouver itself is a Canadian coastal city located in the Lower Mainland of
province British Colombia. It is located on the Burrard Peninsula, with the Burrard
Inlet to the North and the Fraser River to the South.
The city is located approximately 115 miles from Seattle, Washington.
Climate
Vancouver is a
temperate city by
Canadian standards.
Normally, it is classified
as Oceanic or Marine
West Coast. During July
and August, the summer
months, the climate is
typically dry. These days
are drier and sunnier with
moderate coastal
breezes. During late fall
and winter, the climate is
9. rainy. Snow falls roughly 11 days per year, however it doesn’t often remain on the
ground.
On a yearly average, temperatures fall between 33 decrees Fahrenheit and 71
decrees Fahrenheit. The city famously grows palm trees as an indicator that the
climate is temperate is comparison to the rest of the country.
The City of Vancouver is located roughly one half hour (driving) south of several
popular ski resorts.
Topography
While the country of Canada is topographically diverse, the city of Vancouver is
relatively conformational. While there are hills and several instances of
microclimates, it is not as varied as the rest of the province or country.
The North Shore Mountains serve as Vancouver’s famous backdrop. On clear
days, Washington’s Mount Baker is visible to the southeast. Vancouver Island is
situated across the Strait
of Georgia. Bowen Island
is to the northwest.
Vancouver is home to one
of the largest urban parks
in North America. Stanley
Park, which is more than
10% larger than Central
Park in New York City,
covers 1001 acres.
Social
Institutions
As of the 2006 Canadian census, it was reported that 85.2% of Canadian citizens
were living in a private dwelling with relatives. 10.6% were living alone. 2.5% lived in
private households with non-relatives, and 1.7% lived in collective dwellings.
While the population of Canada shows in increase of citizens living alone, the
majority of Canadians live with family members or spouses.
According to a 2007 survey, 57% of Canadians agreed, “there is no such thing as
a typical family.” Family structure has changed drastically over the passed 50
years, with today’s families populated by step-siblings, same-sex parents,
extended relatives, and, increasingly, couples alone.
10. Education
There is a high drive among Canadians to seek postsecondary credentials. This is
having a profound impact on society overall, because it is delaying marriage and
altering the form and function of Canadian families.
48% of Canadians aged 25 years to 64 years of age have either a college or
university education.
Canada spends roughly 7% of its GDP on education. Public education is provided,
and overseen by federal, provincial, and local governments. Most school systems
are structured like those of the US, with K-6 primary education, and secondary
education until grade 12.
Politics
Political System
Canada functions within the framework of a constitutional monarchy and a federal
system of parliamentary government with strong democratic traditions.
Governmental structure was first established by the British parliament through the
British North America Act. Post WWI, Canadians began to develop a strong sense
of identity, and the British government showed intent to grand autonomy. The
Statute of Westminster gave legal recognition in 1931.
Political Parties
The two largest parties in Canada are the Conservative Party and the Liberal
Party, however, many other parties have and do exist, including the Green Party
and the Libertarian.
The Vancouver civic government is dominated by the centre-right Non-Partisan
Association.
Stability
Canada is normally considered to be a stable democracy. The Economist ranked
the country the third most democratic nation in its democracy index in 2006, and
number 11th in 2008.
Taxation
11. Roughly 31% of a single person’s (with no children) income is paid to taxes. By
comparison, the rate in the US is 29%. A household with two children pays
approximately 21.5%. In the US, that number is 11.5%. The majority of these
revenues come from property and payroll taxes.
Legal System
The Canadian legal system has a foundation in the British common law system,
being a former member of the United Kingdom. The constitution is the nation’s
supreme law, which is similar in principle to that of the United Kingdom. Powers
are also assigned to provincial and territorial governments.
The Supreme Court of Canada is the highest court in the nation, and the final
court of appeal in the Canadian Justice System.
Social Organizations
Social Classes
Roughly 3-5% of Canadians fall into the Upper Class category, with 1% being
Upper-upper earners, distinguished by “old money,” and the remaining being
lower-uppers, depending more on earnings and inherited wealth.
Roughly 40-50% of the population is comprised of the middle class. There is
considerable racial and ethnic diversity in this class. The upper-middle typically
works in professional or upper-managerial fields, while the lower-uppers work in
less prestigious jobs.
The working class comprises approximately 1/3 of the population. They have
virtually no accumulated wealth.
The remaining 20% is the lower
class.
Race, Ethnicity, and
Subculture
Vancouver is known for its
distinctive ethnic mix. 51% of the
city’s population belongs to a
visible minority. The largest
minority population is comprised
of Chinese immigrants. Roughly
51% of the city’s population is
12. not native speaking.
Religion and Aesthetics
The largest religions in Canada are Catholic (42%) and Christian (40%). However,
the population is relatively segregated, with the highest concentration of Catholics
in French Quebec.
Roughly 16% of the population describes themselves as having no religious
affiliation
Vancouver is home to a number of notable musicians throughout several decades.
The Vancouver opera is the major opera in the city, and it is also home to the
Vancouver symphony orchestra. The city was home to influential punk rock bands
such as Subhumans. Today, it is home to a number of popular indie bands such
as Destroyer and Tegan and Sarah.
During the 1980s, the city was home to the Vancouver School of Conceptual
Photography, which was a grouping of photographers interested in
photoconceptualism.
Vancouver is called “The Hollywood of the North,” and is a major film and
production center.
Living Conditions
Diet and Nutrition
Canada is much like the United States in respect to diet. There aren’t many
traditional cultural dishes still eaten today by the majority of the population. Diet
varies from region to region.
People in the British Colombian province tend to eat healthier overall. There is a
significant consumption of fish, largely due the coastal location. Approximately 6%
of British Columbia define themselves as vegetarian, however this term is often
used loosely, with many still consuming fish.
Also like the United States, Canada struggles with a growing obesity rate. Of those
over 18, 23% of the population was obese. 36% were overweight.
Housing
Vancouver is the 4th most densely populated city in North America, after NYC,
San Francisco, and Mexico City.
13. The vast majority of city dwellers reside in high-rise apartment complexes. The
design of the city advocates high-rise buildings over expansion. In addition, many
urban industrial sites are being redeveloped into lofts and studio space.
Clothing
The majority of the Canadian population no longer wears cultural clothing.
Vancouver citizens generally dress like people would in a typical Northwestern US
city such as Seattle or Portland.
In business settings, trendy clothing is often frowned upon. Women should wear
more conservative dresses or business suits, and men should wear a dark,
conservative suit with a tie. Casual attire is, of course, acceptable when not
working.
Recreation
Because of the proximity to numerous ski resorts, many citizens of Vancouver
either ski or snowboard as a form of recreation during colder months.
Many people prefer simply being outdoors – walking through Stanly Park or along
the many beaches. Beaches surround the city, however, the water is too cold for
most water-sports. The wilderness which surrounds the city provided many
opportunities for hiking and camping.
There are several golf courses throughout the greater Vancouver area.
Per year, the average Canadian family spends $7,994 on recreation.
Social Security
Canada operates the Old Age Security pension and the Canada Pension Plan.
Old Age security is a taxable monthly social security payment available to most
Canadians aged 65 or over. The basic amount is $502 per month. Recipients with
a net income of over $64,700 must pay back %15 of net income.
The Canada Pension Plan is a contributory, earnings-related social program. The
prescribed contribution rate is roughly 5% of a salaried worker’s gross earnings.
The employer matches the employee contribution. Payouts begin at age 65.
Healthcare in Canada
Guided by the provisions of the Canada Health Act, adopted in 1984, healthcare
in Canada is provided through a publically funded system. It is mostly free at the
time of usage. The government sets federal standards to help insure quality of
care.
14. The government covers roughly 70% of an individual’s healthcare costs. The
individual pays for dental and pharmaceutical expenses. Drug prices are
negotiated federally with suppliers to control costs. The elderly receive medications
for free. Most employers provide supplemental health insurance to help cover the
costs of prescriptions.
Canada also has a Medicare system, and a single payer system.
Despite reports of long wait-times for care, 87% of citizens report being satisfied
with the current healthcare system.
Language
While there are a multitude of languages spoken across Canada, largely in part to
the large number of ethnic immigrant populations, the preferred languages are
English (67.1%) and French (21.5%), however over 90% of French-preferring
speakers reside in Quebec. Both languages are recognized as the nations official
languages.
Overall, 20% have a different language as their native language. In Vancouver, this
number is reported to be as high as 53%.
35% of the nation’s population describe themselves as bilingual, with 17.4%
bilingual in English and French. 83% are “unilingual.”
Population
As of November 2010, the population of Canada was 33,759,742. According to
the 2006 census, Vancouver had a population of 578,041, with the metropolitan
area just exceeding 2.1 million.
Canada’s birthrate is slowly declining overall. The current birthrate is 10.28 per
1000. This rate was the same as 2009, but 2008-2009 showed a decrease of
.10%.
According to the current population and birthrate, the number of live births per
year is approximately 347,050. The death rate is 7.87 per 1000. The overall
growth rate of the country is 0.804%.
Distribution of Population
According to the CIA World Factbook, distribution is as follows:
0-14 years: 16.1% (male 2,761,711 / female 2,626,836)15-64: 68.7% (male
11,633,950 / female 11.381,735)
65+: 15.2% (male 2,220,189 / female 2,862,787)
The median age of the population is 40.7 years.
15. 80% of Canada’s population resides in urban centers, meaning an area with at
least 1000 people and no fewer than 400 persons per square kilometer. There is
an annual 1% rate of change. The net migration rate is 5.64 migrants per 1000.
Canada’s population is divided as follows: 28% British Isles origin, 23% French
origin, 15% other European, 2% Amerindian, 6% other (mostly Asian, African, Arab),
and 26% mixed background. About 52% of Vancouver’s population is comprised
of visible minorities, approximately 33% of which are Chinese.
Economic Statistics and Activity
Canada operates in Canadian Dollars. Currently, their dollar is almost comparable
to the USD. 1 CAD = 0.995 USD
Canada is described as being a high-tech, affluent country. The GDP is $1.279
trillion. Canada ranks 15th in the world, between Spain and Indonesia. The Real
Growth Rate is -2.5%.
Canada’s GDP is comprised of 2.3% agriculture, 26.4% industry, and 71.3%
service..
The personal income per capita is 38,200. Canada ranks 26th in the world.
The average income per Canadian family is $70,400.
Minerals and Resources
Canada’s natural resource sector is a vital part of the country’s economy. Natural
resources make up approximately 12% of gross GDP. Energy accounts for 6.5%,
Minerals 3.3%, and Forestry make up 1.9%
Transportation
Major modes of transportation include airways, railways, and roadways. There are
9 major ports in Canada, mainly used for shipping. In metro Vancouver, many
citizens simply walk to get around.
Communication Systems
Major forms of communication include landlines, cell phones, and Internet. There
are 18.251 million landline users, 23.081 cell phone users, and 25.086 Internet
users.
Principal Industries
16. Canada’s GDP is comprised of 2.3% agriculture, 26.4% industry, and 71.3%
service.
Agriculture includes wheat, barley, tobacco, fruits and vegetables, dairy, fish, and
forest products. Industries include transportation equipment, chemicals, petroleum,
natural gas, and wood and paper product.
US responsible for 75% of Canadian exports thanks to NAFTA
Banks emerged in 2009 from financial crisis among the strongest in the world.
Major exports include motor vehicles and parts, industrial machinery, aircraft,
telecommunications equipment, chemicals, plastics, wood pulp, timber, crude
petroleum, natural gas, electricity, aluminum.
Major export partners include the US: 75%, UK: 3.37%, China: 3.09%. Exports
account for $323.4 billion
Imports include machinery and equipment, motor vehicles and parts, crude oil,
chemicals, electricity, durable consumer goods. Import Partners: US – 51.1%, China
– 10.8%, Mexico -4.56%. Imports - $327.2 billion
The labor force is comprised of 18.39 million people. Unemployment is estimated at
8.3%.
As of September, the inflation rate was 1.9%.
17. Retailers
Vancouver is much like any major US city in terms of retailers – there is a wide
variety, and selection is often dependent on the neighborhood.
Countrywide, major mass retailers include Costco, The Real Canadian Superstore
(comparable to Wal-Mart), and Value Villiage, which is another discount chain.
Drugstores and beauty supply stores include The Body Shop, Sephora, and
Pharma Plus.
Women’s wear retailers include Zara, Esprit, and Jacob.
Because Vancouver is a major tourist city, most retailers accept cash and major
credit cards. Some restaurants and gift shops will accept US Dollars.
Vancouver openly encourages business entrepreneurship. The city encourages
prospective business owners to seek funding in the form of venture capitalists. The
city’s website also lists reasons why investors should choose to fund the city.
Steps to operating a business are extremely informal. The city provides a list of
business categories (Oiseau would fall under Retail – General) and actively
encourages growth. For a small retailer (under 4,700 square feet), a business
license is just under $150 per annum.
Vancouver encourages partnering with a venture capitalist to ensure adequate
funding.
Ultimately, Vancouver presents itself to the public much like a corporation would.
Media
Canada is much like the US in terms of media available to citizens. The vast
majority has access to Internet and television.
2 Public television broadcasting networks exist each with large network affiliates.
Several private networks; overall, there are about 150 television stations. There are
multi-channel satellite and cable systems to provide access to stations, including
US ones.
The Canadian broadcasting Corporation operates 4 radio networks, and there are
roughly 2000 licensed radio stations throughout the country.
Market Analysis
Blocktalk.ca, a demographics firm in Canada, segmented residents of downtown
Vancouver, and classified 68.6% as being “Grads & Pads.” They are said to be,
18. “A collection of young, ethnically-diverse city dwellers living near universities, Grads
& Pads represents the nation's most liberal lifestyle. Its residents are a progressive
mix of well-educated singles, students and recent grads, service workers and
professionals ... With three-quarters of the adults unattached, Grads & Pads
residents are night owls who frequent health clubs, rock concerts, art galleries and
ballet performances. They like to drink: beer, tequila, rum, gin - you name it.
They're also political activists who work for social causes, write to public officials
and volunteer for political parties and politicians who typically support their liberal
views.”
The site notes that the medium income of this demographic is $42,289. The site
also notes that this demographic is interested in community involvement, ethical
consumerism, and are most-often liberal.
The female half of this demographic would be the ideal consumer. Secondary
consumers would include tourists, consumers looking for fashionable items, and
consumers interested in eco-friendly products, but who are not necessarily fashion
or trend aware.
The site states that there are 21,800 total adults residing in downtown Vancouver.
Oiseau has a key consumer base of 7,477.
The second key demographic residing downtown is called “Electric Avenues.”
These are upper middle class urban singles. They often hold white-collar jobs. This
demographic is openly progressive with social views. The site notes that while this
group is not ostentatious when it comes to dress, they do spend “freely” on
designer clothing, and are willing to pay more for eco-friendly products.
The median income of this group is $62,000. They comprise 9.2% of downtown
Vancouver. This would be an additional target consumer base of 1,003.
The downtown area is home to shops that reflect the mostly young professional
neighborhood. Prevalent retailers include Zara Woman, BCBG, and Aritzia.
Marketing Recommendations
Vancouver is a city where not only citizens, but also the entire city itself are
interested in the green movement. The city actively promotes “green business”
ventures, and is currently aiming to become the greenest city by 2020.
While Vancouver’s largest economy is technological, there is growing interest from
outside sources in the city’s green movement.
Vancouver is home to Eco Fashion Week – an event comprised solely of eco-
friendly designers and brands. The event’s figurehead is Giselle Bundchen. The
19. event is also comprised of a trade show. This would be an ideal event for Oiseau
to attend.
“We have the smallest carbon footprint of any major city in North America
and we’re a leader in green building, planning and technology. We also
have a bold new ambition: to be the greenest city in the world by 2020.
And you can be part of it.”
Price
Pricing will be aligned with stores with somewhat similar demographics, especially
where they pertain to fashion-conscious, relatively affluent, Generation Y
consumers. Essentially, Oiseau will seek to replace items that would normally be
offered to this consumer with eco-friendly ones. The store will focus on products in
the contemporary price point.
Placement
Oiseau is a brick-and-mortar retail store. There are no plans for a warehouse-type
facility, therefore if an e-commerce site existed, merchandise would come directly
from the store itself.
Oiseau will utilize a traditional marketing channel, as merchandise will be
purchased from third-party vendors. The intermediaries used would be company
sales representatives for the selected brands.
Producer ⇒ Wholesaler ⇒ Retailer ⇒ Consumer
Promotion
Media- advertisements would be places in local magazines or publication. Because
of the high tourism rate, media in other areas such as Seattle will be considered
Packaging - a reusable shopping bag would be given to the consumer to
strengthen the idea of sustainability
Sales Promotion - associated would be required to be well informed of product
attributes as well as industry details such as why organic cotton is superior, etc.
Point of Purchase - the store will carry books and publications that inform
customers about the eco-friendly lifestyle
Direct Marketing - the store will utilize social networking sites such as Twitter and
Facebook to inform consumers about new merchandise, trends, sales, events,
etc. Emails could also be sent to consumers on a mailing list.
20. Special Events - many boutiques host special nights where a designer or person
of interest in present. Oiseau will utilize this tactic in an effort to gain interest for the
store and to draw in new consumers.
Oiseau will likely be present at events that concern fashion or a sustainable
lifestyle. For instance, presence at events such as Eco Fashion Week would be
ideal.
SWOT Analysis
Strengths Weaknesses
•Strong brand image •Limited vendor selection
•Entering “green” market during growth •Requires highly informed store
phase personnel
•No direct competition •Must be able to sell product on
•Unique store concept aesthetics
•No similar stores means difficult to tell
if concept will work
•Concept trumps product
Opportunities Threats
•Can easily expand to include •Volatile economic climate
cosmetics, men’s, etc. •More stores may carry “green”
•“Green” market expected to grow fashions if the trend grows
•Many smaller vendors do not require •Little market data
large purchase orders •Many e-commerce sites focusing on
•More brands are adopting “eco” eco-fashion
product, meaning larger selection
Branding
The logo of Oiseau is a green bird. The bird, of
course, relates to the name, which is the French
translation. Consumers can also connect the color to
the idea of eco-friendly merchandise, and to nature.
The typeface is clean and modern, and is meant to
appeal to the store’s contemporary demographic.
21. Packaging
In lieu of traditional bags, Oiseau would utilize reusable shopping bags made from
organic cotton. This would serve to strengthen the idea of the sustainability, even
after the consumer has left the store.
Business Card
Front:
Bird silhouette is cut
out
Branch embossed -
convex on front
Recycled cardboard
Back:
Bird silhouette is cut
out
Branch embossed -
concave on back
Letterhead