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Stanford Venture Lab - Final Presentation for EcoBeautyLab

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Stanford Venture Lab - Final Presentation for EcoBeautyLab

  1. 1. You’re different from everyone else
  2. 2. So why buy the same thing in the same way that everyone else does?
  3. 3. It is time to say NO
  4. 4. one-size-fits-all
  5. 5. products off-the-shelves
  6. 6. products that harm
  7. 7. our trees
  8. 8. our animals
  9. 9. and our households
  10. 10. don’t be like this
  11. 11. you deserve a better shopping experience
  12. 12. one that is fun and interactive
  13. 13. with great design and stunning imagery
  14. 14. an experience that gives you enough curated choices
  15. 15. to exercise control and power
  16. 16. but with expert guidance and recommendations
  17. 17. to feel confident and not overwhelmed
  18. 18. because creativity loves constraint
  19. 19. express yourself from deep within
  20. 20. BY personalizing items that you use everyday
  21. 21. because your outside is a canvas for who you are on the inside
  22. 22. create thoughtful gifts that will delight your family and friends
  23. 23. no more false gimmicks and deceptive labeling
  24. 24. support locally-based businesses
  25. 25. help us give jobs to people
  26. 26. be part of a bigger cause
  27. 27. reconnect with nature
  28. 28. be the cool one among your friends
  29. 29. be unique
  30. 30. Who are our customers?
  31. 31. Meet Felicia Felicia is a 24-year-old working professional living by herself in the city with a disposable income who spends most of her free time online.
  32. 32. Her Habits Creativity and Personal Expression • She loves being creative and feels the need to express herself from something deep within her. She does so by blogging, filming YouTube videos, capturing pictures with Instagram, writing beauty reviews, creating fashion collages on Polyvore, contributing articles to female magazines, commenting on beauty websites, participating in forums and bookmarking beautiful pictures on Pinterest. • With so much time spent online and on her mobile, it is no wonder that she has weaker interpersonal skills Openness, Social Sharing and Validation • She likes the social validation that comes from her tribe in the form of Facebook likes, Twitter retweets and Pinterest repins. She spends time sharing interesting links with her friends on Skype and Gchat. Shopping • She uses at least 10 different personal care products a day. She sells and buys handmade jewelry on Etsy. She subscribes to Birchbox. She downloads shopping apps on her phone. Engagement • She wants good advice and guidance but retain the power and given enough
  33. 33. Her interests Health and Beauty Wellness • She takes good care of her skin and appearance because she believes that the outside is a canvas of who she is on the inside. • She has no brand loyalty and would try out new brands that appeal to her. • She puts life before jobs
  34. 34. Her Social Identity • She is an early adopter, an influencer and a tastemaker. She reads beauty blogs and magazines because she likes to be the first to know about the latest trends. If anything catches her eye, she’ll share it with thousands of friends and followers on social media networks. • She is hipster. She is unique and likes to differentiate herself by rejecting mass-produced products.
  35. 35. Her Values • She is altruistic. She is mindful of of how her purchases affects the environment and likes to be a part of a cause bigger than herself. • She values authenticity and buys things that represents who she is. She is well-informed and can see through deceptive labeling and false gimmicks. She is distrustful of faceless corporations that will do anything at the expense of profitability.
  36. 36. Business model
  37. 37. Open Innovation • Link our customization platform and internal resources to the outside world (let the customers tell us what they want through a guided process) • Instead of an internal R&D process, structure an open R&D process that invites partners and customers to participate in the creation of end products
  38. 38. Long Tail • Offering a large number of niche products, each of which sells relatively infrequently • Low inventory cost and strong platforms
  39. 39. Marketing Strategy
  40. 40. Strategy Form deeper relationships with a group of early- adopters and tastemakers who will be the evangelists of our products. Lower acquisition costs since early-adopters like to be the first to access a product. They are more willing to try it out and more forgiving of a less-than-perfect product.
  41. 41. Distribution – Kickstarter Campaign – Affiliate Traffic – Referrals – Search Engine Marketing (Google Adwords, SEO) – Media Exposure (female magazines and websites) – Public Relations (sending out personalized products to bloggers and other big brands)
  42. 42. Market Size
  43. 43. Market Size • Global Market Size: $350 Billion Per Year (According to Euromonitor) • U.S. Market Size: – 2010: $33.3 billion – Growth of $2.6 Billion • U.S Organic: – 2010: $5 billion – Growth of $1.7 Billion • Skincare: Largest portion of the beauty industry • E-commerce & mass customization are new markets that have high- growth
  44. 44. Other Industry Trends • Recession-proof (Consumers may not buy cars of diamonds, but they still indulge in small guilty pleasures) • Products have high profit margins (Lower cost of goods sold) and customers are willing to pay premium • Lower customer acquisition costs since it is easier to go viral as women are communicators and top users of social media networks and shopping
  45. 45. Funding • Crowdsourcing • Venture Capitalists • Incubators
  46. 46. Risks • Raw Materials • Time
  47. 47. Meet The Team
  48. 48. Melissa Lim (Team Leader) • Managed a cross-functional team of 11 at Singapore’s No.1 Women’s Website • Managed beauty events with over 2000 attendees • Part of a team that launched a women’s magazine that sold out upon launch • Launched OpenRice.com, Asia’s No.1 Online Dining Guide in Singapore
  49. 49. Filippo Zanella • PhD Candidate at University of Padua, Italy • UCSB Visiting Researcher • Team Leader of A-Pole, mobile application development Studio, team just got accepted to H-Farm one of the top incubators in Europe • Fencing Champion in Santa Barbara
  50. 50. Russell Palmiter • Technical and product management roles across various domains such as small business accounting (Intuit), creative professionals (Adobe), CRM (Salesforce), e- Commerce (Swimoutlet) and medical devices (Alcon) • Masters in Computer Science • Founder of IzKit, an e- commerce software provider
  51. 51. Valentina Pachova • Physicist by education • Working at Origins, a company that prides itself as being powered by nature and proven by science • Brings her love and research for natural ingredients to our project