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LESSONS
LEARNED
12 MARCH 2013 STANFORD UNIVERSITY
WHAT’S NEW TRENDS FASHION STYLE DESIGNERS CLOTHING
presents…
F I E R C E L Y
“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 the
collaborative process
WHOTarget audience: Emerging & Aspiring Designers, Tastemakers, Shoppers, Established
Brands, Fashion Boutiques, Department Stores, Fashion E-commerce sites
WHEREOnline
WHYNeed exists in the market to match demand with supply and help to eliminate wasted
talent and resources
HOWThe Fiercely Process
MARKET SIZE: USD 5 BILLION
THE INITIAL IDEA
TEAM STRUCTURE
THE FIERCELY TEAM
CONTENTOPERATIONS
TOGETHER, MAKING FIERCELY A SUCCESS
VISIONARY:
Nicky Hinrichsen / MBA 2
DOMAIN EXPERT:
Dara Johnson / MBA1
MARKETING GURU:
Ruchi Dana/ MBA2
CONTENT EXPERT:
Clara Chow / MBA2
ROCKSTAR CODER:
Braulio Fernandes
FIERCE LEADER
CONTENT
VISIONARY:
Nicky Hinrichsen / MBA 2
CONTENT EXPERT:
Clara Chow / MBA2
ROCKSTAR CODER:
Braulio Fernandes
BUSINESS MODEL CANVAS – V 1
WHAT WE FOUND
Built product mock-up
Created video explaining value
proposition for Emerging and Aspiring
Designers
Tested Tastemakers’ & Shoppers’ user
experience
Emerging and Aspiring Designers need support ono creating design sketcheso samples of their designso creating an audience, marketing &
PR, distributiono producing their styles
Tastemakers, Shoppers, and Retailersare excited too discover new fashion designerso engage with designers and become
“ambassadors”o engage with designers to modify
products
WHAT WE DID
BUSINESS MODEL CANVAS – V 2
De-prioritizePrioritize Validated
Hey good looking.
What do you want to do
today?
You’ve got taste.
Shape my new line.
You can see the next big thing.
Launch my career.
WHAT WE DID
Met with the CEOs &
founders of other fashion
kickstarters that had
recently failed and other
fashion tech companies
Iterated MVP
Worked on acquiring
customers through ads
Lagerfeld copies from your
closet.
Buy designer originals hot off the presses.
• Keep
• Kill
• Want
• Share
• Keep
• Kill
• Want
• Share
• Keep
• Kill
• Want
• Share
• Keep
• Kill
• Want
• Share
Keep - Kill – Want - Share
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eep
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eep
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Keep - Kill – Want - Share
Kee
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-K
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–W
an
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are
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?
BUSINESS MODEL CANVAS – V 3
De-prioritize
Prioritize
VOTE NOW ON LOOKS BY SAKS’ HAND-PICKED YOUNG DESIGNERS
Saks Trendcaster powered by Fiercely
1st PIVOT
NEXT STEPS: FASHION BY BARTER
INVITE-ONLY BARTER PARTIES MOBILE APPLICATION
POST-CLASS STEPS
FIERCELY VIABILITY
WHAT DID WE LEARN Customer acquisition is KING
There’s a need for this that can only be met once we have a substantial, vibrant community
Work on acquiring customers & #StayingFIERCE
