Presentation on theme: "Action Items Li & Fung Flextronics"— Presentation transcript:
1Action Items Li & Fung Flextronics Review all Concept documents, provide feedback, and provide suggestions to fill gaps.Provide improved Concept diagrams (e.g., SMART Sleeve, SMART Gamer’s Cap, SMART Shelf, and SMART Handbag).Complete additional market demand research working to:Increase volumes and expand application of initiatives – we would like higher volumes and broader applications, if possible.Provide additional requirements, as necessary, and prioritize requirements.Provide any references for market demand that supports market estimates.Provide Total Addressable Market (TAM) volumes (e.g., how many activewear jackets are sold per year by Li&Fung and what % of the market does this represent) for all Concepts.FlextronicsCompare proposed initiatives with previous and current Flextronics’ initiatives to look for relevant experiences and related outcomes. Use this experience to prioritize initiatives.Conceptual designEstimate effortDetermine timelineEstimate ‘product cost’Prioritize Concepts based on market volumes, Non- Recurring Engineering (NRE costs), and timelines to bring technology to market.Complete additional market research in conjunction with Li & Fung.
3Project Mystique - ’e-Perfume’ OBJECTIVETo bring a new fragrance application experience to the consumer marketTo seek ways to satisfy the industry (brands) demand to eliminate alcohol from the fragrance supply chain, as alcohol creates high supply chain costs. The goal is to go back to the essential oils (i.e. the most traditional forms of fragrance). Using the current dispensing mechanism, alcohol dilutes the essential oils and is the carrier fluid of the fragrance. USE CASES/EXPERIENCESFor the consumerAn enhanced experience/ritual in the application of fragrance to engage the sensesThe feeling -Pillow effect - the application feels like a soft cloud of even application, rather than hard localized spritzThe dispensed fragrance is visualized as a cloud Cloud / rain shower like - The fragrance as a glitter cloud of thinner particlesPossible warmth elementEasy to carry for travel with possible refilling optionsExplore new forms of package – shapes, look and feel of the dispenserApplication duration seconds experience rather than milliseconds of spritzVarious possibilities of triggering the application -Touch, motion activated, electronic, soundPossibly refracted LED lighting for visual effect to go with the new experienceShould be a premium but not gimmicky experienceSingle fragrance “container/ cartridge” would be transparent 20ml or less, and the user can see the fill levelBENEFITS for BRANDSOpportunity to become a market leader / game changerLower logistics costs by eliminating alcohol(transport, storage)Opens new opportunities for speed to market (alcohol based fragrance production is not permitted in urban areas)BENEFITS for CUSTOMERSLonger lasting and increased fragrance intensitySkin benefits (alcohol is bad for the skin)Controlled dosage – less wastageMore even applicationNo stainingNew personal experienceElementCurrent MarketProposed New ApplicationAlcohol content80% alcohol/20% essential oils100% essential oilsEffectManual spritz – split seconds – feels like liquid2-3 seconds, no lag, cloud-like experienceDispensing methodMechanical dispensing systemTechnology driven method that can dispense/disperse fragrance oilsPackagingPackage size is dictated by liquid volumeDesign is not dependent on large liquid volumes (i.e., creates the potential to explore new dispensing shapes)
4Project Mystique - ’e-Perfume’ ROADMAPBring to market by end 2016Prototype and testing of dispensing method / user interface - the ability to create the cloud-like experience with a non-alcohol based fragrance. Can we even create a cloud?Conduct market research on market acceptanceBring in brand partner for actual brand product development - by end 2015Work on new supply chain configuration surrounding new packaging that involves no alcoholThe fragrance production itself is a new processFilling of the bottles / dispensers is a new processTesting of new fragranceDiscuss incorporating other aspects (e.g. Light, activation gesturesPotential to explore single dispenser, multi-fragrance cartridgeRISKSMarket acceptance of new application experience.Intellectual property around the dispensing method.Time to market.This concept has the potential to disrupt the whole fragrance industry/supply chain - time or cost for supply chain to adapt is a question.TARGET PRICE / MARKET SIZECurrently have 1 major fragrance player (5-8 premium brands involved) inquiring and interestedYear 1 launch - 1 million unitsMultimillion across several brands (target 1 million units per brand)Costs and Market Accepted PriceEstimated $XX cost to implement new technology.Additional cost is expected to be offset by reducing supply chain costs, via the elimination of alcohol (e.g., savings in transport, storage, insurance, etc.)Price to retailers expected to be same.Consumer acceptance could be higher, depending on how the product is marketed.Start2016MarketTechnology development (dispenser / cloud)User experience researchBrand buy-inFragrance developmentTesting
5Project Mystique - ’e-Perfume’ CONCEPT DIAGRAMSPrototype IdeasFill levels of essential oil is visibleFragrance cloud appears as a fragrance pillowDispenser ConceptPotential Activation Gesture