weardrobe digital wardrobe

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Page 1: WearDrobe Digital Wardrobe
Page 2: WearDrobe Digital Wardrobe

Summaya Aziz – Chief Marketing Officer

Peter Muller – Chief Operating Officer

Jason Roper – Chief Financial Officer

Joseph Schaedel – Chief Risk Officer

Hala Taha – Chief Technology Officer

Rufus Thatcher III – Chief Executive Officer

MEET THE TEAM

Page 3: WearDrobe Digital Wardrobe

MISSIONWearDrobe was started to solve a simple problem

– evolve the shopping experience using tomorrow’s technology today. We combine top

brands, social media, and technology to deliver a highly personalized experience that helps

shoppers look their best with ease.

Page 4: WearDrobe Digital Wardrobe

1-YEAR PLANIncorporate friend sharing – A feature that allows customers to track the styles of their friends and meet up for sharing or borrowingFashion Trend Analysis integration – A feature that provides retailers to more accurately track macro and micro fashion trendsRetailer integration – A feature that allows retailers to market directly to their customers on a one-to-one basic

5-YEAR PLANNon-For-profit integration – A feature that allows users to donate to their favorite charity or non-for-profitRental Service Support – A feature that allows customers to become retailers with integration with EBay, Rent-the-Runway, and other rental providers

VISION

Page 5: WearDrobe Digital Wardrobe

VALUESOur number one guiding principle is to

provide the best user experience possible.

Whether we are designing a new interface for our app or adding additional features, we take great care to ensure that they will

ultimately serve our users and their style, rather than our own bottom line.

Page 6: WearDrobe Digital Wardrobe

CAPABILITIES

Page 7: WearDrobe Digital Wardrobe
Page 8: WearDrobe Digital Wardrobe

Our app will deliver to our customers (app users) the abilities to:

Share your inventory with friends so they see what is new that you have bought, what they can borrow, or what trends their friends are seeing in fashion.

Choose outfits on the various outfit sections as well as see possible match capabilities.

See what types of articles are missing as you filter through for more direct future shopping.

Aid in seeing what you don’t wear anymore by tracking each time it comes out of the closet (scan it)

Blogging/commenting on clothes.

CAPABILITIES

Page 10: WearDrobe Digital Wardrobe

KEY RESOURCES• Users must have an app-able device

• Brand cooperation and database/search capabilities

• Exclusivity of the data to be used in that type of platform

• Will need a coding team, marketing team, customer/clothing manufacturer relations team

• Financial resources from Kickstarter to fund campaign. Additional revenue to promote app

Page 11: WearDrobe Digital Wardrobe

BUSINESS MODEL• At WearDrobe, we are taking customer desires, clothing and social

media to new levels in both tracking, donating, selling/buying, selecting and sharing.

• By keeping our partners included and by growing the portfolio, we can ensure success aligned with their desires to become greater partners in the business. This leads to one sector of potential revenue.

Page 12: WearDrobe Digital Wardrobe

• Continuing to track, create and introduce app capabilities as we gain a following and adding payable options will generate revenue without damaging current customers.

• We must market in such a way as to sustain growth. WearDrobe will constantly introduce and keep new ideas that will generate further revenue while keeping the core business unchanged.

• By continually pushing our value above all else, we can stay a relevant business in the market of clothing tracking and social media. Anyone can track their clothes, but by making a simple app to collect everything in a database, we offer a solution that others do not.

BUSINESS MODEL

Page 13: WearDrobe Digital Wardrobe

• Keep cost low: In keeping a completely cloud based database with easy to install/purchase app, we can negate any need for inventory or physical materials. By using such a virtual platform, we can turn our competitors into allies by working off of their success.

• Our main costs will be the app coding and our marketing. The advertising space we are offering to partners and other businesses should make it so that many companies approach us with a willingness to collaborate.

• Base fund: Coming up with a base fund, finding out partnering clothiers and capitalizing on their willingness to pay for added revenue will secure that section of the supply chain.

• Aggressive marketing while focusing on financials and other economic factors will help us stay on our roadmap to success.

BUSINESS MODEL

Page 14: WearDrobe Digital Wardrobe

FUNDING REQUIRMENTS

An initial Kickstarter campaign will be launched to gain capital to pay for app

development, fund our aggressive marketing campaign and any necessary legal counsel.

Crowd funding opportunities give us the ability to raise the necessary capital without

issuing any type of debt.

Page 15: WearDrobe Digital Wardrobe

CAPITAL SPENDING• Capital expenditure, or CapEx, are

funds used by WearDrobe to acquire or upgrade physical assets such as property, industrial buildings or equipment.

• WearDrobe will not have any CapEx requirements for the first five years of operations.

Operating Costs

Page 16: WearDrobe Digital Wardrobe

BREAK EVEN ANALYSIS

Page 17: WearDrobe Digital Wardrobe

BREAK EVEN ANALYSIS

Page 18: WearDrobe Digital Wardrobe

EXTERNAL ENVIRONMENT

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COMPETITION

Truck Club• The Cost: Depends completely on what

items you keep

• The Products: Men’s ONLY clothing and accessories curated to your taste.

• Ships to US via Fedex

BirchBox• The Cost: $10 a month (get one month free

and $10 to spend in the shop with an annual subscription!)

• The Products: Beauty and lifestyle samples selected by the Birchbox team.

• Ships to: US, France, Spain, UK and Canada

Page 20: WearDrobe Digital Wardrobe

1st YEAR ROADMAP

• Month 1 = Launch Kickstarter funding campaign• Month 3 = Minimum viable product• Month 4 = Find initial group of clothier partners• Month 5 = Private beta launch• Month 6 = Assess data and feedback from beta launch• Month 7 = Full launch• Month 8 = Key Hires (more than founders and developer) to push market efforts• Month 9 = Finalize base/core components of app• Month 10 = Expand efforts for partnering clothiers to draw more downloads• Month 11 = Suggest further marketing campaigns to get more downloads and views for further

promotional exercises• Month 12 = Assess % daily growth rate for users, buys, clothiers and partners to plan for 2016

Page 21: WearDrobe Digital Wardrobe

• Hit Kickstarter Goal

• Gain base of 5 clothier partners.

• Need solid database for initial usage and beta testing

• Fully launch when we hit 100,000 users

MILESTONES

• Grow staff beyond founders and developer

• When we hit 1,000,000 users.

• Announce partnership with other social media/database partners

Page 22: WearDrobe Digital Wardrobe

Some technology trends in fashion are:• Trackable couture• Fashion metadata• Mobile commerce• Integrating onto social platforms• Social shoppers

KEY TRENDS

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MARKETING PLAN1. Build Our Personal Online Presence

2. Validate The Idea3. Choose Our Revenue Model

4. Choose Our App Price5. Choose The Right Name

6. Start Marketing Within Our App7. Build Our App’s Online Presence

8. Get Feedback9. App Store Optimization

10. Get Our App Reviewed

Page 24: WearDrobe Digital Wardrobe

MARKETING PLAN8. Get Feedback

9. App Store Optimization10. Get Our App Reviewed

11. Cross-Promote Your App12. Make as Much Noise as Possible

13. Improve Engagement With Push Notifications14. Measure, Improve & Keep On Marketing