Tokyo Billionaires - Stanford University Class Presentation
WardrobeManagementServiceby Tokyo BillionairesConceived and Designed in Japan by the team of professionals.
Fundamental Problem Tokyo BillionairesMo clothes,Mo problems.Many people have more problems as theyaccumulate more clothes, due to mainly lackof tools: - You dont remember what you have whenclosing shopping. - No opportunity to make up potentialclosing sets with your wardrobe items anditems you could buy.
Product Tokyo BillionairesSimple,Easy andFun.- We will set up a website and an application for smartphones, tablets etc- Helpful functions for wardrobe management;Visualization, Categorization (by item types, seasons,colors etc.), Simulation & recommendation, Socialnetworking, Inventory management (buy/sell handling,wish list etc.)
Team Tokyo BillionairesIt all started when Hiros wifewas complaining one day abouthow difficult it was to organize/manage her wardrobe...She didnt remember what she had in her closet when she was outshopping for new clothes. She wanted some advice about puttingtogether outfits consisting of clothes she already had and clothes shewas thinking about buying. This gave Hiro an idea.He contacted some old business contacts to help solve the problem.Yoshi had experience with IT development, Akihiro had experiencemanaging a small business and Aaron could help out with thelanguage aspect of putting together something that would helpsolve his wifes problem and possibly lead to a potential businessopportunity.Each team member asked the women in their life (wife, girlfriend,friends) if they had similar problems with managing their wardrobe.An overwhelming response of yes came back. That is what started thethe group down this path towards setting up a website/application.
Business Model Tokyo BillionairesOrganize the worldswardrobe andmake it accessible- Value Propositions: We help individual customersmanage their wardrobe items by providing an onlinetool and application to easily visualize, categorize, andmake full use of the items.- Key activities: Increase the number of individual usersto have a better position for negotiating with corporatecustomers.
Sales and Marketing Strategy Tokyo BillionairesSocial wardrobing.Recommendations fromfriends as well as dataanalysis based on yourcurrent wardrobe andpurchase history.- Users can share information via facebook, twitter andother SNSs.- We equip strong skill for data analysis that will helpcustomers to get comfortable recommendations.
Risks Tokyo BillionairesWe are always in anuncertain world. We willcontrol the risks with coolhead and warm heart.- Financial risk - website/app set up initial cost +running costs would increase as the number of usersincreased (number of servers). Costs increase butrevenue doesnt start to come in until we reach a certainnumber of users.- Technical risk - depending on IT vendors to set up/maintain/provide additional support. They may not beavailable, they may not be able to provide the service weneed.
Partners and Allies Tokyo BillionairesHelp moreindividual users,attract morefashion brands.- Fashion brands and our corporatecustomers provide product catalogueinformation to our website/app.- Attract brands through media events,showing that we have a certain number ofusers and providing fashion details fromusers wardrobe/tastes.
Funding Tokyo BillionairesStart with bootstrapping,fundraising from venturecapitalists later- Start with bootstrapping, as we increasethe number of users we would take fundraising- Once corporate customers are involved,expansion of the business would beaccelerated