Team 1 members: University of Montenegro:

Student UoM 01 Perunović Milica 12/23 Academic course: Computing and information technologies
Student UoM 02 Nedović Andrijana 13/23
Student UoM 03 Junčaj Simona 10/23

Elevator Pitch of “VIRTUAL FASHION REHEARSAL” deep tech business idea based on design thinking concept

DESCRIPTION OF THE IDEA

" VIRTUAL FASHION REHEARSAL " is a platform that utilizes augmented reality (AR) to allow users to digitally
try on clothing and accessories before making a purchase. Users would download the app onto their
smartphones or tablets, select pieces of clothing from online stores, and then use their cameras to "try on"
those items in real-time. This technology would enable users to see how they look in different outfits without
the need for physical fittings, saving time and streamlining the online shopping process. Not only beneficial
for consumers, this idea would also be advantageous for online retailers, enhancing the overall user
experience and reducing product return rates. Virtual Fashion Rehearsal could integrate social sharing
features, allowing users to seek feedback from friends and followers on their potential outfit choices. This
interactive aspect not only enhances user engagement but also facilitates a sense of community within the
platform. Furthermore, by partnering with fashion influencers or stylists, the app could offer personalized
styling tips and curated collections, further enriching the shopping experience for users and driving traffic to
partner retailers.

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Key Partners Key Activities Value Proposition Customer Relationship Customer
Segments
1. Fashion brands and 1. Convenience
retailers to access their 1. Usage of Augmented Reality 1. Online
2. Personalization shoppers
product catalogs and Technology for virtual try-on
inventory data experience. 3. Risk Reduction 2. Fashion
2. AR Technology Providers 2. Design, develop and maintain the Enthusiasts
3. Mobile App Platforms 4. Accessibility
mobile application for IOS and 3. Budget-
(Apple App Store and 5. Enhanced Conscious
Google Play Store) Android platforms
Shopping Shoppers
4. Digital Marketing 3. Establish partnership with fashion Experience
Agencies to develop and brands and retailers 4. Online
6. Sustainability Retailers
execute marketing strategies
7. Partnership 5. Fashion
Opportunities Designers and
Brands
6. Fashion
Influencers
and Bloggers
7. Physical
stores that also
have an online
presence -
Boutiques

Key Resources Channels

1. Augmented Reality (AR) 1. Mobile App Stores

Technology 2. Social media platforms
2. Mobile Application 3. Email marketing
Development Team
3. Fashion content and inventory
4. Robust data storage (cloud
computing services and
databases)
5. Marketing and promotion team

Cost Structure Revenue Streams

1. Charge online retailers or fashion brands

1. Development Costs a transaction fee or commission for every
2. Operational Costs purchase made through the platform.
3. Marketing and Promotion Costs 2. Subscriptions plans for users to access
4. Partnership and Collaboration Costs premium features or a higher level of
service.

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