Velora
Making the impossible possible
Team:
1. Dogan, Yasir
2. George, David
3. Jadhav, Sunny
4. Madni, Betül
5. Thai Pham, Yen Vy
Business Idea : A Platform for Luxury Clothing with Flexible Installment Payments
Business model representation:
Financial institution
Customer Velora company
(Buys clothing from our platform)
Business Model Canvas
Key Partnerships: Key Activities: Value Proposition: Customer Relationship: Customer Segments:
• Luxury Brands and • Platform Development and • Enabling customers to own • Community for clothing • Affluent Shoppers
Designers Maintenance luxury fashion with flexible, inspiration • Fashion Enthusiasts
• Payment Providers (e.g., • Product Sourcing & Curation manageable payments, • Customer support regarding • Millennials & Gen Z
Klarna, Affirm, PayPal • Partnering with luxury brands avoiding the burden of large loans & products • Gift Shoppers:
Credit) and curating collections of upfront costs • Loyalty program for regular • Frequent Shoppers
• Logistics Providers (e.g., high-end clothing and • Enabling customers to own payers as well as shoppers
DHL, UPS) accessories. luxury fashion with flexible,
• Payment Processors • Payment Integration manageable payments,
• Customer Service: Providing avoiding the burden of large
Key Resources : customer support for product upfront costs Channels:
inquiries, payment issues, • Granting customers exclusive
• Legal team and returns. access to curated collections • Online: Tiktok, Pintrest,
• Ware house & logistics • Marketing & Branding of luxury clothing and limited- Instagram
handling systems • Managing Logistics edition pieces
• Supplier network • Offline: Malls, outlet cities,
• Platform areas with high foot fall.
• Customer data
Cost Structure • Payment Processing Fees Revenue Streams:
• Product Sourcing & Inventory
• Technology Development & • Customer Support Operations • Product Sales: Revenue generated from selling luxury clothing
Maintenance • Logistics & Shipping • Installment Payment Fees: Interest charges associated with installment payment
• Marketing & Advertising • Interest/Financing Fees option
Value proposition canvas
Value Proposition Customers
Product & services Gain creators Gain Customer job
1 Web platform & app Transparent and easy-to-use Access to exclusive clothes Look successful 2
platform
2 Rare luxury clothing collection Promotion and offers
Paper less funds sanction 8 Stay trendy 4 6
3 Instalment based payment facility Fast shipping
Instant fund disbursal 5 Buy rare luxury clothing pieces 1
Easy returns
4 Community membership
Clothing & looks inspiration and
6
buying on single platform Customer support Avoid high upfront cost 3
Fast and secure shipping
Pain
Pain reliver
Hassle-free returns and exchanges
Unable to secure instant funds 5
Partnership with financing 7
companies Long paper work for securing fund 8
Fast delivery with packaging tailored to the luxury items. Difficulty to justify clothes as a asset 7 Availability of liquid funds 3
Roadmap
Week 1 to 3 Week 7 to 8 Week 13 & 16
Ideation & Validation Testing & feedback Growth
Tasks: Tasks: Tasks:
• Market research • Interface Alpha & beta • Complete features rollout
• Target market validation Testing • Multiply marketing efforts
• low-fidelity wireframes • Resolve platform bugs • Approach for long term
• Establish partnership for beta partnership with vendors
phase
Week 4 to 6 Week 9 & 12 Week 16 to 18
Core Features Development MVP launch & problem Final platform development
mitigation and expansion
Tasks:
• Product Catalog Tasks:
• Platform features & mockups
Tasks:
• Start development of final
• Launch the MVP
finalization platform
• Rollout marketing campaign
• Partners scouting • Identify new markets and
• Measure performance KPI
potential growth areas
