Community Research and Development Information Service - CORDIS

H2020

CosMyFY Report Summary

Project ID: 683980

Periodic Reporting for period 1 - CosMyFY (A new Business Model for the Natural Cosmetic market)

Reporting period: 2015-06-01 to 2015-11-30

Summary of the context and overall objectives of the project

Laboratoires Phyto Tecnique srl is an Italian SME dealing with the manufacturing of naturals products for cosmetics brands – big and small ones. The CosMyFY project aims at developing a new business model oriented to the implementation of own brands and own direct market. Current business model is limited, in terms of growing capability, by traditional clients and their business models. In the natural cosmetics market new player are emerging, offering own brands and working with social network (actually blogs). They are individuals, mainly women, who become « blog lead » and boost number of followers exceeding millions. The great advantage in bloggers’ approach is the direct and complete engagement of the followers both in the product choice (colour, type, functionality) and in its diffusion by the contact chain. Bloggers, however, lack production capability. LaboPhyto has his own know how and production capability that will allow to overcome this current market weakness and to aggregate many blogger to implement a new business model. This new model will shorten the value chain, improve GM, reduce environmental impact, create new employment and new widespread business opportunities. In the project a local customized production capability is envisaged by adopting local 3D printers, both by the blogger and by associated perfume shops. This step will represent a real disrupting innovation in the market. At the end we will have: A business plan development; The platform COSMYFY integrating technologies (3D printers included), products and bloggers database, Assessed the world market and established a bloggers-own label producers network, Defined a plan for marketing and business development. Pilot application of the new business model built, tested and validated. For the realization of the objective we foresee: A feasibility study that will define aspects for the implementation of the project in Phase2. Duration : 6 months; In Phase2, the aspects of technological development, industry, market and trade. Duration: 18 months

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

From 01/06/15 we started the project. So no work has been during this period
Task 1 : Market analysis: evaluation of the bloggers in the world in order to profile blogger for recruiting. First in UE countries. Deliverable: Market analysis : month 6
Task 2 : Blogger selection and recruiting: after the first list of contact delivered in Tsk1, bloggers had been selected; contacts were held by LaboPhyto Commercial Manager. Deliverable: list of contacts (460/102), blogger profiling and recruiting. Month 6
Task 3 : Technology and industrial development: this task was aimed at defining the final new product specifications according to the evaluations of the bloggers partners and at defining the stages of product development to be completed (e-commerce, blogger-customer-products business processing SW, 3D printers and CAD design,..) and preparation of Phase2. Searching for strategic industrial partner for the production of the 3D printers (to be customized) Deliverables: Technology and products assessment and development plan; list of industrial partner; risk assessment; cost assessment; investment plan. Month 5
Task 4 : IPR and partner agreement. In this task all IPR strategies and the contract model (new-co, licensing, royalties, transfer of know-how) had been evaluated and outlined. Month 5
Task 5 : Feasibility Report: this is the assembly of the results of the other tasks. A complete business plan, providing implementation activities, industrial, commercial and financial data and forecast had been set up. Deliverable: Feasibility report and PH2 working plan. Month 6

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

Laboratoires Phyto Tecnique srl (LaboPhyto hereinafter) is an Italian SME dealing with the manufacturing of naturals products for cosmetics brands – big and small ones. The CosMyFY project aims at developing a new business model oriented to the implementation of own brands and own direct market. Current business model is limited, in terms of growing capability, by traditional clients and their business models. In the natural cosmetics market new player are emerging, offering own brands and working with social network (actually blogs). They are individuals, mainly women, who become « blog lead » and boost number of followers exceeding millions. The great advantage in bloggers approach is the direct and complete engagement of the followers both in the product choice (colour, type, functionality) and in its diffusion by the contact chain. Bloggers, however, lack production capability. LaboPhyto has his own know how and production capability that will allow to overcome this current market weakness and to aggregate many blogger to implement a new business model. This new model will shorten the value chain, improve GM, reduce environmental impact, create new employment and new widespread business opportunities. In the project a local customized production capability is envisaged by adopting local 3D printers, both by the blogger and by associated perfume shops. This step will represent a real disrupting innovation in the market.
At the end of the overall project will have:
1 A business plan development
2 The platform COSMYFY integrating technologies - 3D printers included -, products and bloggers database
3 Assessed the world market and established a bloggers-own label producers network.
4 Defined a plan for marketing and business development.
5 Pilot application of the new business model built, tested and validated

For the realization of what has been described is envisaged to develop:
• A feasibility study that will allow to define the necessary aspects for the implementation of the project in Phase2. Duration of Phase1 : 6 months
• In Phase2, the aspects of technological development, industry, market and trade. Total duration of Phase2: 18 months
During the feasibility study we intend to pursue the following objectives:
OBJECTIVES MEANS of VERIFICATIONS
World Market and players analysis and assessment • 3 countries (UE, BRA, USA)
• Target blogger (40) - UE
Technical feasibility of the concept • Definition of the final specifications of the products families in accordance with the evaluations of the bloggers partners, thence previously selected by the followers
• Definition of the stages of product development to be completed (database, e commerce, cloud management systems).
• Assessment of 3D printer technology and producers
• Cost of the product
Business Plan set up • Development of canvas model
• Details of the contract (licensing, royalties, transfer of know-how) and IPR management rules
• Risk analysis and strategies for recovery
• Complete business plan

Related information

Record Number: 186523 / Last updated on: 2016-07-13