Business Model Innovation at Wildfang Case Solution

1. Develop a business model canvas for Wildfang's current operations.

Emma Mcilroy, the CEO of Wildfang, which is ready to wear brand for men, had been thinking of ways to expand her business. They had two business models for this expansion. One was the brick-and-click strategy in which the merchants ran the business physically at stores and through online marketing and sales. The other one was to provide a multi-sided platform. After visiting urban outfitters, Mcilroy and Julia Parsley got inspired to launch their own brand by the name of Wildfang; meanwhile, they had been working at Nike, but they kept on exploring menswear. There were two models under consideration. One was a private label b and c model in which a contract is given to a third party for manufacturing the product while the product is sold under its brand name. The other was a multi-sided platform where two or more participants interact, making a deal possible. There were many advantages and benefits of multi-sided platforms, but they also had some drawbacks, so the question arose of which model would better suit their policies and preferences. 

The company earned a lot of profit due to its marketing tactics as it hired celebrities for the brand's endorsement. The first retail site that also became their headquarters was the Wildfang fort. The company was prospering, and it was making profits. They had decided to open a second retail store in Portland. Mcilroy had been planning expansion. She knew that B and C strategies would require a lot of money for technical work, too, in order to run the business online, so she was more interested in the multi-sided platform since it is very profitable. Since she had working experience at Nike and she knew how profitable this scheme was, she was more focussed on having a multi-sided platform in which a third party has been given a contract, and the company itself does not need to invest in the product, but the product is sold under the company's brand name. Wildfang was not only a brand, but it became the voice of many girls. It gave identity, freedom and liberty to a girl to follow her dreams, be her own kind and live her life to a full extent. Girls were very happy with its ideology and wanted this brand to be promoted at every level. Hence the two business models that they were using came up to be very beneficial for the growth and prosperity of the business.