Report on Fashion 2.0 Business Model

GROUP PROJECT
PROPOSED BUSINESS MODEL REPORT
GROUP REPORT PRESENTED BY : FASHION 2.0
Wasam Umer - 10165710
Burhan Ahmad Butt – 10150322
Alagiri Balaji Gowthamy – 10170706
Sanjay Dhirubhai Dudhat – 10175439
Kingsley Chukwuemeka Ugboaja - 10166204
OCTOBER 31, 2021

Table of Contents
Introduction.....................................................................................................................................3
Aims And Objectives:.......................................................................................................................3
Industry Profile................................................................................................................................4
Market Gap......................................................................................................................................4
Market Opportunity.........................................................................................................................5
Why Apparel Segment?...................................................................................................................5
Pestle Analysis.................................................................................................................................7
Value Proposition Canvas................................................................................................................9
Business Model Canvas..................................................................................................................11
Conclusion......................................................................................................................................14
References.....................................................................................................................................16
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Introduction
This business is about bringing a new apparel online tailoring store to provide easy and
unique solutions for tailor made clothing. The business focuses on bringing a website and
tailoring app to Indian market customers to provide them with numerous options in apparel
range. The reason behind this business plan is the increasing trend of online shopping. In this
context literature has also stated that with each coming day, online shopping activities are
increasing and the reason behind this popularity is search-cost saving, ease in choosing a
product and convenience that it brings to a customer (Bakos 1997; Wimble et al. 2016). The
segments targeted for this business are female customers having age bracket of 10-45 years,
fashion freaks, field partners and those people who find difficulty in finding right size for them
for their customized stitched clothes. This business will not only concentrate on fabric dealers,
cloth manufacturers, key retailers, weavers, fashion schools and raw material suppliers so that
the users of our website and app are retained within one software for a longer period to
complete their entire purchasing journey. This business aims at solving several customer
problems related to perfect stitching by building a wide network that otherwise are missing in a
simple online apparel store which brings a limited choice for their customers.
Aims and objectives
The main objective of Fashion 2.0 is:
 To satisfy diverse tailoring needs of consumers by providing them with wide services
and offerings to make a great it a great experience.
 To make wide presence around different economies while adding more services and
products to the company by the end of 2026.
While the aims of Fashion 2.0 are:
 To provide a hassle-free experience to consumers by bringing wide range of their
desired brands and services on its portal under professional tailors.
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 To become one of the most customer-centric organization around the globe by raising
the bar of consumer’s shopping experience continuously.
Industry Profile
It is a lucrative industry and provides employment opportunities to almost three
hundered million people around the world, it represents a global business that is worth 1.3
trillion dollars (BOF & McKinsey, 2019). The reason for choosing this industry besides our
personal preference is that this industry is substantially diving the world’s GDP (BCG, 2019).
From this wide industry, our business focuses only on the apparel industry. In that, our focus is
further narrowed to female apparel solutions as we are coming up with the new business idea.
Elaborating on the selected industry further, we have chosen the Indian economy to tap the
apparel industry with our business idea. Online sales are also seen showing rising graphs for
many businesses around the world and equally in India. According to India Brand Equity
Foundation (2020), under the Digital India program, the internet connection number rose to
776.45 million in 2020.
Market Gap
The textile and apparel industry, being one of the oldest industries, has shown us
numerous developments in the country and India now this market of textile and apparel
is more than the US $133 billion value (IMARC Group, 2021). The Indian population still
doesn’t find their every apparel solution online. Some people find size issues, some
couldn’t find a suitable design at the hour of need. Many consumers after buying a piece
of cloth must go and look for tailors to make it a right fit for their body. Fashion 2.0 has
considered this gap to come up with a fine solution to this. Also, the recent COVID-19
pandemic has made it more convenient for consumers to order their products and
services from online platforms and this convenience factor is also taken into account by
Fashion 2.0 as it brings manufacturers, fashion brands, and tailors under one single
online platform. People who need oversizing clothes and do not find them from brands
can simply search for a manufacturer of cloth on our website and app, buy that piece of
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