Business Model Transformation at the Early Stage of Business Development (the Jewelry Industry Case)

Student: Vinokurov Artem

Educational Programme: Business Strategies: Management and Consulting (Master)

Year of Graduation: 2020

The master thesis is dedicated to the business model transformation of a young jewelry brand "Jewellirina", which needs to change its business model to adapt to the changing environment. The external and internal factors of the organisation were analyzed and the forecast of the future was made. The forecast showed that a significant reduction in demand and an increased competition could be expected. To tackle this negative factors, a proposition was made to change the customers of the business to people, who buy jewelry as a gift. This changed the value proposition to customization, since people, who buy jewelry as a gift, need to show their care to the other people. As a result of the transformation, a new way to generate income was identified, which is selling jewelry gift boxes.

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