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Fiercely final 2013 stanford e245

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  • 1. FIERCELYWHAT’S NEW TRENDS FASHION STYLE DESIGNERS CLOTHING presents… LESSONS LEARNED 12 MARCH 2013 STANFORD UNIVERSITY
  • 2. THE INITIAL IDEA MARKET SIZE: USD 5 BILLION“Crowdsource fashion designs and take care of production,marketing, and distribution”WHATTake Kickstarter.com, mix it with Etsy.com for creativity & variety and Quirky.com for thecollaborative processWHOTarget audience: Emerging & Aspiring Designers, Tastemakers, Shoppers, EstablishedBrands, Fashion Boutiques, Department Stores, Fashion E-commerce sitesWHEREOnlineWHYNeed exists in the market to match demand with supply and help to eliminate wastedtalent and resourcesHOWThe Fiercely Process
  • 3. THE FIERCELY TEAM TEAM STRUCTUREOPERATIONS CONTENT DOMAIN EXPERT: CONTENT EXPERT: Dara Johnson / MBA1 Clara Chow / MBA2 VISIONARY: Nicky Hinrichsen / MBA 2 MARKETING GURU: ROCKSTAR CODER: Ruchi Dana/ MBA2 Braulio FernandesTOGETHER, MAKING FIERCELY A SUCCESS
  • 4. FIERCE LEADER CONTENT CONTENT EXPERT: Clara Chow / MBA2 VISIONARY: Nicky Hinrichsen / MBA 2 ROCKSTAR CODER: Braulio Fernandes
  • 5. BUSINESS MODEL CANVAS – V 1
  • 6. WHAT WE DID  Built product mock-up  Created video explaining value proposition for Emerging and Aspiring Designers  Tested Tastemakers’ & Shoppers’ user experienceWHAT WE FOUND  Emerging and Aspiring Designers need support on o creating design sketches o samples of their designs o creating an audience, marketing & PR, distribution o producing their styles  Tastemakers, Shoppers, and Retailers are excited to o discover new fashion designers o engage with designers and become “ambassadors” o engage with designers to modify products
  • 7. BUSINESS MODEL CANVAS – V 2Prioritize De-prioritize Validated
  • 8. Keep - Kill – Want - Share Lagerfeld copies from your Keep - Kill – Want - Share closet. Buy designer originals • Keep • Kill hot off the presses. Keep - Kill – Want - ShareHey good looking. • WantWhat do you want to do • Sharetoday? • Keep Keep - Kill – Want - Share • Kill Keep - Kill – Want - Share • Want • Share Keep - Kill – Want - Share Keep - Kill – Want - Share You can see the next big thing. Launch my career. Keep - Kill – Want - Share• Keep • Keep• Kill • Kill• Want • Want WHAT WE DID• Share • Share  Met with the CEOs & founders of other fashion kickstarters that had recently failed and other Keep - Kill – Want - Share fashion tech companies  Iterated MVP You’ve got taste.  Worked on acquiring Shape my new line. customers through ads
  • 9. WHAT WE FOUND• Trendsetters curious about being a patron or sponsor of emerging design talent, but uncertain  “I like supporting indie designers through Etsy.”  “There’s enough stuff out there. Give me stories, access.”  “As a fashion editor my job is to find new talent. But don’t have them tweet at me. Find another way to connect.”  “Set expectations. For ecommerce people want their product right away. But if it’s set up as a Kickstarter kind of project, people are willing to wait; it’s a different mindset.”• Initial feedback on MVP: need call to action and an element of play and feedback to keep users coming back (Polyvore)• Competitors (Cut on Your Bias, Fabricly, Lookk) already use voting, pre-orders – how do we differentiate and acquire customers?
  • 10. BUSINESS MODEL CANVAS – V 3 Prioritize De-prioritize
  • 11. 1st PIVOT VOTE NOW ON LOOKS BY SAKS’ HAND-PICKED YOUNG DESIGNERSSaks Trendcaster powered by Fiercely
  • 12. NEXT STEPS: FASHION BY BARTER INVITE-ONLY BARTER PARTIES MOBILE APPLICATION
  • 13. WHAT DID WE LEARN  Customer acquisition is KINGFIERCELY VIABILITY  There’s a need for this that can only be met once we have a substantial, vibrant community POST-CLASS STEPS  Work on acquiring customers & #StayingFIERCE