1. Lesson From Flops

3. Background Information of Company  Worlds first online global sports and fashion retail site  European company founded in 1998 and operating out of a London head office  Founded by three Swedish entrepreneurs  Previous experience in online business: bookstore, bokus.com, which in 1997 became the world’s third largest book e-retailer behind Amazon and Barnes & Noble.

4. Company Details

5. Business Idea  Become the world-leading Internet-based retailer of prestigious brand leisure and sportswear names  Listed brands such as Polo Ralph Lauren, Tommy Hilfiger, Nike, Fila, Lacoste and Adidas  At launch it would open its virtual doors in both Europe and America with a view to ‘amazoning the sector’

6. SWOT Analysis

7.  Media savvy  Good Marketing Strategies  Innovativeness : State of the art technology  Good networking skills  Big resources and funding available

8. S W OT Analysis  Liability of newness, lack of track record, lack of experience in the industry, lack of management skills  Poor financials, careless with spending, high overhead  Too ambitious, expand too fast  Did not understand customers

9. SW O T Analysis  They had a global market  First to come up with virtual fitting  World wide branding  Economies of scale opportunities

10. SWO T Analysis  Conflict with retailer interest  Low adoption of technology by users  High expectations from stakeholders and customers to deliver

11. Timeline (Plan to give interactive timeline, from founded, money expenditure, bankrupt, liquidated)

12. Reasons For Failure  Aggressive growth plan  Timing of technology  Lack of management, poor planning  Did not do proper customer survey  Too much hype and expectations for boo.com  Did not do risk management – delay in delivery of website  Tight timeline

13. Lessons To Draw For Our Group  Start small, expand in an appropriate manner  Experience needed in the industry in order to understand customers, suppliers  Poor user experience. No mat­ter how good your back­end sys­tems are, the users will only remem­ber your front end. Fail there and you will fail  Lots of money != success.  Importance of making your customer happy but not at expense of the company e.g. goods return policy

14. Aftermath of boo.com  Fashionmall.com bought the remains of boo.com which included brand, Web address and advertising materials but this deal did not include any physical assets, software or distribution channels Fashionmall.com  The deal also included the Miss Boo character. Boo's main assets, its software and technology, was sold to Bright Station for $250,000. Boo.com had purchased this technology for $70 million.  Less than $2 million was earned by selling all Boo's remaining assets.  In August 2010, the similarly-named UK online fashion outlet boohoo.com was launched, possibly a name inspired by the earlier website.