THETREASURYA SPACE FOR SUSTAINABLE AND INNOVATIVE DESIGNR AC HEL I WA NIECDESIGNING AND IMPLEMENTING SUSTAINABLE BUSINESS MODELSPROFESSOR PAYNEDECEMBER 16, 2012
THE MISSIONThe Treasury aims to provide alternative methods ofproduction and consumption through the form of design.Serving as both an outlet for unwanted clothing and a venuefor the exhibition of the work of local designers theenterprise aspires to reshape the structure of the fashionindustry, starting on a small scale with the intent to expand.Focusing on the idea that “newness” does not directlyequate “nowness” or value, the Treasury aspires to changethe way individuals think of fashion and the products inwhich it offers.
HOW IT WORKSServes as a fashion boutique that promotes local designersand sustainable productsOutlet for unwanted or worn clothingProvides refurbishment and alteration servicesAll products made available at the boutique contain recycledpieces from the outletProvides designer taught classes to educate in DIY (Do ItYourself)projects. Designers will teach individuals how to re-create a particular fashion trend or create a new one.
WHERELocated in Brooklyn, New York,the enterprise aspires toaddress local designers andcreative individuals. At thepresent moment, Brooklyn hasbeen identified as creativeindividuals are identified as agrowing segment of the areaspopulation. The demographicranges between the ages of 20-45. Wikipedia.com
REVENUE MODELS1. Renting of space to designers- Designers will rent physical space to display their products2. Commission based revenue- At the end of every month designers will be required to pay 10% of their sales to the enterprise. As products will be sold at retail price, 10% of the retail sales will profit the Treasury3. Trend analysis and consulting services- designers will have to pay a particular fee to obtain such servicesIn the future…The Treasury aspires offer emerging designers asponsorship. Through sponsorship, the Treasury would alsobe provided with revenue as the space in which thesedesigners display their work.
VALUE PROPOSITIONThe Treasury’s goals:• Provide a new way to experience the act of consumption• Provide a new and innovative design in the hope to inspire• Provide high quality products• Imbue new value into unwanted/worn products- closed loop life cycle• Provide a visual experience• Provide a new perspective on fashion design- fashion as art, fashion as a vehicle for change• Provide classes to expand customer’s design knowledge and skill sets• Provide a space for the direct communication between designer and consumer- consumer feedback• Provide a sense of “doing good for the community and environment”- giving the consumer new knowledge to better control their consumption and heighten their awareness of the individual’s local and global impact
OUR OBJECTIVE While the Treasury is focused on a local scale, it aims to educate consumers on the politics of production and sustainability. The intent is to ignite an awareness of the existence of better solutions to production methods and product value.
MOST URGENT SCALEISSUES PART 11. Measuring the community’s sentiment toward the business plan The community’s enthusiasm in regard to the enterprise is essential for its success. In Place: a short introduction, Tim Cresswell argues that creating a place is “a process” that reflects the transient nature of the community that inhabits the place (82). To mitigate this issue, local businesses and neighbors must be involved in the identification of goods and services that must be addressed through the enterprise.2. Resource conflicts and Multitasking Problems of sharing resources and scheduling resources acrossprojects threaten the success of each quarterly collection. In Project Management: The Managerial Process, it is suggested that “a set of integrative criteria and a process for evaluating and selecting projects” must “support higher-level strategies and objectives” (35). Subsequently, primary resources should be identified in relation to the employed designers and specific types of garments should berequested from consumers to donate.
MOST URGENT SCALEISSUES PART 23. Lack of previous brand recognition In today’s society, brand recognition is associated with quality and aparticular type of social status. To successfully dismiss such constraints designers must develop new ways of understanding through design. These new designs must serve as new solutions that go beyond the consumer’s comfort zone, identifying a need they didn’t think to ask for (Spark InnovationThrough Empathetic Design).
PROMOTION THROUGHQUARTERLY EVENTSPresented in quarterly deliveries, the products are introducedto the public for the first time in the form of an event. Thedesigners of the products are present at the event to provideinsight into their designs and the process with which theyuse to develop their pieces. Each event is marked with aparticular theme that runs through the specific products ondisplay.Each event serves as a marketing device to promote thespace and the designers involved in the specific installment.