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Polimi OPEN KNOWLEDGE

New Business Models and Creative Entrepreneurship in the digital era

via Polimi OPEN KNOWLEDGE

Overview

This course addresses the numerous changes brought by the emergence of digital tools in the fashion industry. It describes the current context in the sector regarding the maturity of the different technologies, the new business models generating by the digital revolution and its impact on the strategy of brands and entrepreneurs.

Indeed, every phase of the fashion value chain has been impacted by the rise of digital, from design to retailing, and new players as well as established companies must integrate this change of paradigm. The course analyzes different aspects of the mutation of the sector starting from customer behavior. The rise of digital retail generates many opportunities for fashion company, from mass market to luxury; but this new tool also has some prerequisite in terms of marketing and organization. Companies must understand the new rules of visibility that both rely on an expertise on digital tools (SEO, digital marketing) and fashion expertise (content creation, online customer experience).

The course underpins the importance of data for fashion companies today. It is an unavoidable source of performance for brands and entrepreneurs today. Data is a major source of efficiency through the possible monitoring of every action and process as well as the measure of the return on investment of the different expenses. Data is also the backbone of new value propositions for companies that develop new products or services that are more accurate and personalized for customers.

For brands, digital is also a powerful tool to innovate in terms of storytelling and gather a community they can engage in the long term. Lastly, digital tools have a positive impact of the sustainability of the fashion sector, allowing companies to better control their processes and their negative externalities. New solutions emerge leading to a greater transparency and traceability of products.

Students will discover new business models appearing in the field of fashion and understand how they can durably change the current organization of the fashion system.

 

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