Armoir
1. Problem
1.
Shopping for new clothes is time-consuming and can feel tedious.
2.
Shoppers want new styles of clothing, but buying new items constantly is expensive.
3.
It's challenging to know the fashion trends happening in your local community and shoppers are uninspired.
4.
Fast fashion is wasteful and people own clothes they never wear
2. Solution
Browse
To find inspiration, users can explore closets of people in their communities or search for specific items
Lend
To help others find the perfect outfit and make some extra money on the side, users can lend clothes out to peers for a set price/day. This is also more sustainable.
Borrow
Users can borrow clothes from friends/community members on a budget and save time and help the environment.
3. Unique Value Proposition
4. Unfair Advantage
Find that missing piece
Armoir is a peer-to-peer clothes lending platform designed for college campus communities. College students can browse closets of their peers, borrow clothes at an affordable price, and make some money lending their clothes. Armoir is different from other platforms through: 1) clothes are lent, not sold (eg Poshmark, Mercari) 2) exchanges are peer-to-peer rather than directly from vendors (eg RentTheRunway)
College channels - don't have to deal with shipping/delays; instant exchange of clothes
Lending/borrowing clothes is more environmentally sustainable than buying new clothes
Very few to nonexistent products in market for peer-to-peer lending for non-designer clothes
5. Customer Segments
College Students
College students living in close communities and interested in fashion. College campuses facilitate easy lending and a built-in network for clothing sharing
Dorms, Frats, Sororities, Themed Housing
Explore in the future:
-students/workers who commute to campus -other college campus communities
6. Key Metrics
Total users
Total items of clothing uploaded
Total transactions (lending/borrowing)
Sharing the app through social media
Attendance at branded events
College campus housing
Close living quarters could encourage people to sign up with their friends. Providing some organized way of lending would alleviate difficulties in keeping track of shared items
Facebook Networks
Students can lend/share clothes with their networks of existing friends
7. Channels
College campus events
clothes swap events and Armoir-branded marketing events
Soft Launches
events on other college campuses
8. Cost Structure
Shipping
Potential shipping costs in future, but keeping it local/college-focused for now
Cleaning and Damages
expenses to ensure clothing returns in good condition
Marketing
Price of ads etc. to reach customers
Data maintenance
if many users, will need to maintain data on the cloud
9. Revenue Stream
10% fee of customer exchanges
Monthly subscription fee for premium features
-access to certain clothing -your clothes are featured -covering cleaning fees, etc
Partnerships with brands
Advertisements
Example: user borrowed a shirt, gets ad to buy it
