Harvard Case - You are what you (co)curate: A participatory approach to fashion curation in the digital world
"You are what you (co)curate: A participatory approach to fashion curation in the digital world" Harvard business case study is written by Fraser White, Joyce Stefanova, Ting Fang Yu, Shih-Po Weng. It deals with the challenges in the field of Social Enterprise. The case study is 9 page(s) long and it was first published on : Dec 31, 2019
At Fern Fort University, we recommend that The Curated Closet adopt a hybrid organizational model that leverages the strengths of both for-profit and nonprofit structures to achieve its social and environmental goals. This model will enable The Curated Closet to scale its impact while maintaining its core values of sustainability, inclusivity, and community engagement.
2. Background
This case study focuses on The Curated Closet, a digital platform founded by two friends, Sarah and Emily, aiming to revolutionize the fashion industry by promoting sustainable and ethical consumption. Their platform allows users to curate their own virtual wardrobes, share style inspiration, and connect with other conscious consumers.
The Curated Closet faces challenges in achieving profitability while maintaining its social mission. The case study highlights the tension between social impact and financial sustainability that many social enterprises face.
3. Analysis of the Case Study
Social Entrepreneurship Framework:
This case study can be analyzed through the lens of the social entrepreneurship framework, which focuses on:
- Mission: The Curated Closet's mission is to promote sustainable and ethical fashion consumption, fostering a more conscious and inclusive fashion industry.
- Social Impact: The platform aims to reduce textile waste, promote fair labor practices, and empower consumers to make informed choices.
- Business Model: The Curated Closet relies on a subscription-based model, offering various tiers of access to its services.
- Financial Sustainability: The company faces challenges in achieving profitability while maintaining its social mission.
Key Issues:
- Scaling Social Impact: The Curated Closet needs to find a way to scale its impact while maintaining its core values.
- Financial Sustainability: The company needs to develop a sustainable business model that can support its growth and social mission.
- Organizational Structure: The Curated Closet needs to consider its organizational structure and how it can best support its long-term goals.
SWOT Analysis:
- Strengths: Strong social mission, innovative platform, engaged community, passionate founders.
- Weaknesses: Limited financial resources, dependence on subscriptions, potential for competition.
- Opportunities: Growing market for sustainable fashion, potential for partnerships with brands, expansion to new markets.
- Threats: Competition from established players, changing consumer preferences, economic downturn.
Competitive Analysis:
The Curated Closet faces competition from both traditional fashion retailers and other online platforms promoting sustainable fashion. It needs to differentiate itself by focusing on its unique community-driven approach and its commitment to social impact.
4. Recommendations
1. Hybrid Organizational Model:
- Establish a for-profit subsidiary: This subsidiary will focus on generating revenue through subscriptions, partnerships, and other commercial activities.
- Create a nonprofit foundation: This foundation will focus on social impact initiatives, such as funding sustainable fashion projects, supporting ethical supply chains, and advocating for policy changes.
- Establish a clear governance structure: The for-profit subsidiary and the nonprofit foundation will operate independently but will be governed by a shared board of directors to ensure alignment with the overall mission.
2. Diversify Revenue Streams:
- Partnerships with Brands: Collaborate with sustainable fashion brands to offer exclusive products and experiences to The Curated Closet users.
- Affiliate Marketing: Partner with other sustainable businesses and organizations to drive traffic and generate revenue through commissions.
- Workshops and Events: Host workshops and events related to sustainable fashion, style, and conscious consumption.
3. Enhance Community Engagement:
- User-Generated Content: Encourage users to create and share content, fostering a sense of community and ownership.
- Social Media Campaigns: Utilize social media to raise awareness about sustainable fashion and engage with a wider audience.
- Local Partnerships: Collaborate with local organizations and businesses to host events and promote sustainable fashion in their communities.
4. Invest in Technology and Innovation:
- Data Analytics: Utilize data analytics to understand user preferences and tailor content and recommendations.
- AI-Powered Personalization: Implement AI-powered personalization features to enhance the user experience and provide more relevant recommendations.
- Blockchain Technology: Explore the use of blockchain technology to track the provenance of products and ensure transparency in the supply chain.
5. Basis of Recommendations
These recommendations are based on the following factors:
- Core Competencies and Consistency with Mission: The hybrid model aligns with The Curated Closet's mission by ensuring both financial sustainability and social impact.
- External Customers and Internal Clients: The recommendations address the needs of both users and the company's stakeholders.
- Competitors: The recommendations differentiate The Curated Closet from its competitors by focusing on community engagement, innovation, and social impact.
- Attractiveness: The recommendations are expected to increase revenue, expand the user base, and enhance the company's social impact.
6. Conclusion
By adopting a hybrid organizational model, diversifying revenue streams, enhancing community engagement, and investing in technology and innovation, The Curated Closet can achieve both financial sustainability and social impact. This approach will enable the company to scale its operations, reach a wider audience, and contribute to a more sustainable and ethical fashion industry.
7. Discussion
Alternatives:
- Remaining solely a for-profit company: This would focus on generating revenue through subscriptions and partnerships, but it could compromise the company's social mission if profitability becomes the primary goal.
- Becoming a fully nonprofit organization: This would allow the company to focus solely on social impact, but it would require significant fundraising and could limit its ability to scale.
Risks and Key Assumptions:
- Market acceptance: The success of the hybrid model depends on the market's acceptance of The Curated Closet's approach to sustainable fashion.
- Competition: The company faces competition from both traditional and online retailers, and it needs to differentiate itself effectively.
- Financial sustainability: The hybrid model requires careful financial planning and management to ensure both the for-profit and nonprofit entities are sustainable.
8. Next Steps
- Develop a detailed business plan: This plan should outline the specific strategies for implementing the hybrid model, diversifying revenue streams, and enhancing community engagement.
- Secure funding: The company will need to secure funding to support the development and implementation of its strategies.
- Build a strong team: The Curated Closet will need to build a team with expertise in business, technology, and social impact.
- Monitor progress and make adjustments: The company should regularly monitor its progress and make adjustments to its strategies as needed.
By taking these steps, The Curated Closet can position itself for success in the growing market for sustainable fashion while making a positive impact on the world.
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Case Description
The digitisation of cultural heritage started more than 20 years ago and brought about a few changes in the way culture is being produced, consumed, and perceived. Initially, this process aimed at taking out the cultural artefacts, which were stuck in the dusty galleries, libraries, archives, museums, and bringing them closer to both professionals from the creative industries and non-professionals. Nevertheless, this approach is rather difficult because even though there is a huge amount of already digitised cultural heritage, those resources are not used that much, especially in the segment of fashion heritage. What is the importance and the relevance of a digitised cultural heritage? How can both the organisation and its users benefit from it?
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