BUSINESS HISTORY case study about Hugo Boss, find a business challenge regarding the foundation of Hugo Boss and new firm survival. Find wider literature about new firm survival, develop a critical approach
Case study about Hugo Boss – business challenge
Firstly, BUSINESS HISTORY case study about Hugo Boss, find a business challenge regarding the foundation of Hugo Boss and new firm survival. Find wider literature about new firm survival, develop a critical approach and then bring the two literature together.
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The idea, as a result of the Blueprint Workshop, was to create a previously unseen user experience in the fashion industry by giving highly individual recommendations that adapt in real time to the user behaviour of the customers.
Recommendation Engines exist since the beginning of the internet. Amazon is recommending books to cross-sell and up-sell products since years. Netflix build a very sophisticated recommendation engine to recommend videos to their customers.
Because of cloud technology like AWS SageMaker it is now possible to build fully custom recommendation systems for customers at a cheaper cost. Moreover image recognition models and systems developed tremendously in the last years and are available as a service (Tensorflow, AWS). Because of Moore’s law it’s now possible to build a recommendation engine for the fashion industry and make it the backbone of a global lifestyle brand.
In the digital world, fashion is about shopping products online. Having a digital channel to shop or inform about products, isn’t really a premium brand experience. The value proposition for the Hugo digital platform is a customized and personalized experience, tailored to the target audience. Similar to AirBnB, which recommends the right place for customers all over the world or Netflix. Which recommends the right movie to the customer’s personal need. The Hugo Digital platform should be a digital twin of the customer to support an entire different brand experience.
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