Creating the approach to new business model exploration for a top beauty player
- Developed a focused and repeatable approach to new business model exploration
- Prioritised 5 opportunity areas
Identified the size of the prize and KPIs to measure success against
In the beauty industry, smaller, challenger brands are stealing market share from the larger corporates through disruptive propositions and business models. Challenger brands are more reactively spotting emerging consumers trends and capitalising on the opportunities, leaving Coty and other large CPGs under pressure to keep up. Coty needed to evolve their process of disruption from opportunistic to a disciplined approach with better prioritisation and coordination.
We partnered with the VP of New Business Models to create a 4-stage process to help Coty convert experimentation into disruption at scale along with defined criteria to qualify the priorities. We applied the first 2 steps of that process identifying the key opportunity areas for disruption and the most relevant business models to win in each of the areas.