Abstract:
Today, strategies to improve sustainability in the fashion industry is a timely
topic for businesses globally. However, each year, luxury fashion brands still destroy
billions worth of unsold merchandise producing harmful toxins, and human and
material waste. Customers sometimes purchase counterfeit brands in place of luxury
products, which not only has legal implications, but these products as well as luxury
goods are often made with materials harmful to the environment. In addition,
counterfeit goods are not constructed well prompting continual disposal. This creative
project was focused on figuring out a better business model to improve sustainability
of luxury fashion while protecting the luxury brand image. Specifically, the purpose
of this creative project was to develop a plan for an e-commerce business that would
focus on providing: 1) an alternative to counterfeit luxury goods by offering
reasonably priced luxury handbags, and 2) services to extend the life of luxury
handbags.
To develop this plan, research was completed on consumer online shopping
motivations, behaviors and pain points. In addition, in-depth interviews were
conducted with related industry expert. The interviews were focused on sustainability
strategies in luxury fashion, legal issues and current secondhand luxury handbag
market situation.
The business plan was the outcome of the research obtained for this creative
project. The mission of this business was making luxury sustainable. The business
plan developed for this creative project resulted in a template for other fashion ecommerce start-up companies. In addition, the process from each chapter could serve
as a guide to develop other businesses.
The limitation of this business plan was that it has not been implemented yet.
Additional documenting of the execution of this business plan could be made to guide
adjustments. Finally, implementing the business plan enables more testing with
customer on the e-commerce shopping experience of luxury handbags brands.
