Clothing Library Business Model Studies

Our business model is one of collaborative consumption. Thus it is important we ensure it meets the critera experts claim to be required in order to be successful. One of the studies identified four principles of Collaborative Consumption: critical mass, idling capacity, belief in the commons and trust between strangers (Pederson et al). Critical MassHaving […]

Future Goals

When planning our business we need to be looking ahead to the future. Where do we hope to be positioned in 1 year, 5 years, or 10 years time? It is crucial for companies to have strong goals set in place for business growth and development. As a group we have discussed a list of […]

The Logo

Starting out I tried to carry on with the square logo from Kristal’s earlier project pictured below. I liked the outcome but felt it was a bit rigid and structured, and I thought a circle would be more representative of the brands ethos, so I started to introduce some curves to the logo. From here […]

Barriers

Our business model, access to clothes as opposed to ownership, is disruptive of current ownership norms of clothing in mainstream western society. Clothing has always been a personally owned artefact in Western society. From the 1800’s to 1960’s there was made to measure couture for the wealthy or handmade at home for those less well […]

COMPETITIVE LANDSCAPE

Direct Competitors These are companies in the same geographical area as Refresh (NZ) who are offering clothing rental for millenial women. Designer Wardrobe Oh Rent Me The Borrowed Collective Lend The Label Carousel clothing libary store Competitive Analysis: Actual file available to download: INDIRECT COMPETITIORS Companies whose products or services are not similar to ours […]

STAKEHOLDERS

Refresh is ultimately a system, we will rely heavily on the following stakeholders for our company to run effectively. Partnerships Refresh would have partnerships with other organisations which would benefit both parties in terms of exposure and positive mutual association. Partnerships include: Good On You – which is the clothing brand sustainability and ethics rating […]

Triple Bottom Line Approach

Our business plan goes beyond the traditional measures of profits, return on investment, and shareholder value to include environmental and social dimensions. This is called a Triple Bottom Line Approach (TBL). P (Planet) Environmental elements Measurements of natural resources and reflect potential influences to its viability. Renewable resources Reduce waste Upcycle/ recycle Scarcity of resources Incorporate […]

Early Costs Estimates

In class Monday we had an advising session with Mark. We had a good chat and Mark bought up some things we hadn’t thought about, mostly money related. After our meeting with Mark we had a team meeting and tried to work out the start-up cost estimates. We had to guess some of the figures […]

Points System

How the point system works: Take this Kowtow Primary cardigan for example, The full retail price is $249.00. The cost of each item to rent is 25% off the full price. So for this item it would be $62.25 We the round down to the nearest dollar to make it $62.00. To then calculate how […]

Creating a journey through the app

This week I have started to work on the use user journey through the app that we want to be able to show in our presentation on week 6. This journey will show a shopper setting us their account, choosing their subscription level and then shopping through the app to find stuff for the month […]