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FORNY20-FORNY2020

STUD: Commercialization of a full-service circular business model (CBM) for influencers to establish and invest in sustainable brands

Alternative title: Kommersialisering av en fullservice sirkulær forretningsmodell for å etablere og investere i bærekraftige merkevarer sammen med influencere

Awarded: NOK 1.00 mill.

Influencer Brands is a full-service circular business model (CBM) for influencers to establish and invest in direct-to-consumer (D2C) sustainable fashion brands. Influencers are described by the Cambridge dictionary as ?someone who affects or changes the way that other people behave? and are most often seen promoting other brands' products to a specific market through their social media channels. They have a huge impact on customers' decision journey, which is shown by the fact that as many as 56% of Generation Z and Millennials have purchased a product after seeing an influencer promote it on social media. Thus, influencer collaborations have become an important part of companies' brand and sales strategy. However, most influencer collaborations focus on economic value over social and environmental aspects, which is especially detrimental for the fashion industry ? the second most polluting industry in the world. Moreover, the Norwegian government highlights a critical knowledge gap between customers and their relation to the total environmental impact of the products purchased. To fill this gap customers need to know what products are eco-friendly and circular choices. Given the predominance of influencers? power to turn social media followers into loyal customers envisage a great opportunity to implement a circular business model in the influencer industry. Accordingly, the team behind Influencer Brands from the NTNU School of Entrepreneurship has developed a new full-service CBM solution which enables influencers to establish and invest in D2C sustainable brands. Influencer Brands aim is to generate a new revenue stream in the influencer industry by building fashion brands that provide long-term economic, social and environmental value which contributes to the circular economy. The team will validate the CBM solution by launching its first clothing brand in Norwegian market through the STUD-ENT project.

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FORNY20-FORNY2020