Hult MIM 2015 Group 8Selene SanteroHajra HussainAlejandra CastroMaria EvstafyevaDeniz TaktakGeorge Giannoulis

the idea in two sentences

“Buy all parts of your glasses separately and put them together as you like. You can choose

the material, colour and style that matches your style.”

logo – the meaning

according to the Oxford Dictionary BLOOM means: ✤ a flower, especially cultivated for its beauty ✤ flourish, grow healthy

our values

✤ our customers: the lifeblood of our business ✤ our personnel: there are no wrong suggestions, we should always

strive for improvement ✤ our partners: viable sources to deliver the best possible outcome ✤ our product: quality and simplicity are the key drivers

location

✤ all members of the start-up are in the same spot

✤ Hult acts as an advisory function

✤ international exposure, suitable place for product testing

✤ investors

LONDON

role model

$500 million

company valuation

✤ eyewear start-up ✤ raised 4 VC funding rounds ✤ removed the middle man from production process ✤ started selling glasses exclusively over the web

the mechanics

the eyeglass market

$65 B 2,750.3 million units

$142.18 B 3,507.7 million units

global eyewear market in 2013

global eyewear market by 2020

–Christina Frasca (chief editor, Les Yeux Fertiles)

“During the past year, we posted a 40% increase in eyewear advertising in our

magazine, which is definitely a sign that despite the generally difficult economic moment, these

companies are growing.”

price range

$150$200

$240$330

$400$550

$350

Boss Orange

Tod’s

Cheap Monday

Karl Lagerfeld &

OakleyRoberto Cavalli

Belanciaga

Montblanc

$100

Warby Parker

$40

specsavers

$60

competitors

2010

NYC

glasses designed in-house & direct

sales

avg. $95-130

funding: $115.5 million

founded

headquarters

activity

pricing

revenue/ funding

1984

Guernsey (UK)

global retail chain: optician services, eyeglasses, etc.

avg. $190-250

revenue: $1.9 billion

customer segments

TWEENS children

age 8-11profile:

✤ US tween market is over 20 million in population ✤ $261 B spendings in that specific market ✤ often lose or break eyeglasses ✤ want colourful eyeglasses ✤ age where brand awareness starts

customer segments

BABY BOOMERS

parents age 34-54

profile:

✤ busy lifestyle, no time ✤ prefer shopping online ✤ often parents buy more than one pair ✤ exposed to the latest trends ✤ during the shopping process they are influenced to buy also for

themselves

customer segments

BOOK RATS

university students age 18-25

profile:

✤ tight budget ✤ want to be on the latest trend ✤ more time spent studying, reading or using electronic devices—along

with less time spent outdoors causes causes increase in myopia

customer segments

YOUNG PROFESSIONALS

first job age 26-32

profile:

✤ tight budget ✤lower income ✤looking for alternative ways to adapt their style between work and

casual

baby boomerstweens

customer segments

book rats

young professionals

value propositions

family friendly product

affordable price

endless opportunities to personalise the glasses

hard to break

always in fashion

5 days 5 pairs

channels

website

customersdistribution

manufacturing

website

✤ only way to order ✤ responsive design ✤ social media integration ✤ software to choose the perfect frames for your face shape ✤ easy ordering steps ✤ shopify

www.bloomglasses.com

packaging and distribution

packaging and distribution

Customer Relationships

personalised emails

discount codes

referral

design contests

follow up email

social media strategy

360 campaign

cost structure

online website tool

3 package options

variable commission rates

features

personalisation

main supplier

variety of options

variable prices

easy to communicate

main distribution channel

packaging options

100% UK reach

security & insurance

cost structure

suppliers

5,000 sets

5,000 pieces

$6,500 (shipping included)

frames

cases

number avg. price

$0.3

$1

production costs

$1,500

$5,000

TOTAL

cost structure

revenue streams

bridge

temples

case

avg. $2

avg. $2.5

avg. $1

TOTAL avg. $5.50

production costs selling

$28.50

$21.50

$10

avg. $60

key resources

advisor

sales

legal

marketing

R&Dceo

PR

key partnerships

cases: wuxi definite trading ltd.

frames: xiamen cuten ltd.

website provider

delivery

suppliers

lenses provider

customer journey

1

23

4

5

7

8

9

Engagement phase

monthly emailwith offers, etc.

make a purchase

thanks for purchasing

Prospect phase

Acquisition phase

0

banner ads, SEO, word of mouth

browse site create an account

sign up to receive newslettersee a campaignsee the

collection6

welcome/thank you mail

10

further purchases

CRM

Monitoring

create CRM during the entire journey

gather customer insights

create repetition in sales

timeline

NowMar 2015

Phase 1

✤establish partnerships ✤design first product line ✤ testing mechanism ✤prototypes

✤first order ✤social media campaign ✤ fashion bloggers ✤kick starter ✤market entry

Phase 2

Jun 2015

✤CRM ✤establish internal processes ✤kids collection ✤start design contests ✤secure funds

Phase 3

Dec 2015

Dec 2015Mar 2016

Jun 2016

✤expand to other european markets

✤charity options

Phase 4

Goal: sell to Luxottica Group

Valuation: $10 million

✤operation in 3 countries

Phase 5

product launch

reach out to fashion bloggers

social media BUZZ: selfie contest

THANKS ;-)