CONTINUED

The fashion industry pollutes like no other industry – only surpassed by the oil and gas industry. The industry is not capable of changing according to the increased consumer awareness and shift towards circular economy. There is s huge market opportunity in enabling global fashions brands towards this shift. Our unique value proposition lies in enabling a turnkey, and fully brand-integrated digital “shop in shop” platform that manages the rental business and logistical system together with the global fashion brands. We call our B2B2C platform “CONTINUED”. We believe to increase profitability up to 69% (compared to wholesale) and 22% (compared to own retail for our customers and reduce environmental impact by 80-90 %. We target global fashion companies (apparel retailing), selling clothing items of high value/high price. Companies include Patagonia, Prada, Ganni, By Malene Birger, Gucci and Dior etc.
We aim to reduce environmental impact by up to 90 % compared to conventional fashion retail sales. We expect to increase profitability for the brands global fashion brands of 22-69% %. At the same time meeting consumer demands while creating a scalable CONTINUED business with turnover potential tens of millions of EURO.

Outcome of the Phase 1 feasibility study was a more elaborate business plan in comparison to the existing business plan. Our objective in this feasibility study was a MVT (minimal viable test) with three global fashion brands on an external “shop-in-shop landing page. Here we have tested the feasibility of our business model, gained valuable insight to our dynamic pricing engine, identified optimal early adopter segments and ideal clothing items for rental - and gained trust to go forward with the brands and our strategic partnerships. Outputs from this project will set the bases for developing back end and front end key functionality in a new version, and to later engage in a large-scale pilot, which we anticipate within a SME phase 2 project.

We created VIGGATM (https://vigga.us/order-vigga ), the world’s first award-winning business model for a circular economy in the textile industry. VIGGATM is a maternity and kids wear brand. The VIGGATM product-service- system enables parents to rent organic maternity and childrens-wear on a subscription based model. We want to go beyond this by creating CONTINUED, the world’s first retail platform for circular fashion, through which brands can facilitate take back, rent and resell of fashion products more than once.
Through extensive research and speaking with 10+ global fashion brands across Denmark, EU and the US we realized, that to truly change the fashion industry and bring the industry into a circular future, it has to be changed through business model innovation rather than technological innovation. IT need to be made easy for the brands. Globally there are thousands of apparels of brands that can benefit from the CONTINUED platform. In the EU and US by 2020 the is apparel retail market is worth 662 Bn €, growing to 731 Bn € by 2025.. The modern closet is changing! By 2022, 40% of the wardrobe is expected to consist of second hand clothes - a doubling in 5 years. 40% of 18-24 year olds (Millennials) bought second hand clothes in 2017. That is more than any other age group under 45 years. In the US, the resale market will reach $ 41B by 2022. Even more interesting is the rate of growth for resale markets which is growing 24 times faster than retail. Reselling platforms have exploded in popularity in the past decade, and reuse, repair and rent are becoming increasingly popular. Billions of Euro are left on the table because the global fashion brands today have no resale business – instead this is left to smaller platforms, secondhand stores, and private sales among the channels. We intent to change that.

Periodic Reporting for period 1 - ICEFIN (CONTINUED)

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