Assoc Prof Lau Geok Theng and Ms Janet Ng (NUS student)
In September 2012, Charmain Tan, founder and CEO of Fun in Ecological Tech Textile (FIETTTM) faced the issue of having to raise funds required to expand the business. The start-up company specialised in producing eco-friendly, cutting edge tech textile goods. The company’s pilot product, ISGLOVESTM, were a pair of hybrid gloves that could be used to operate touch screen devices while keeping the users hands warm in the cold climate. Gloves of such functionality were unavailable then. The product was manufactured in China and targeted for sale in the Scandinavian countries. FIETTTM had been relying on support and funding from the Singapore government and private initiatives since its inception. To bring the business to the next level, additional funding from other investors were required.
FIETT™’s vision and mission is to go beyond existing frontiers of textile application towards the synthesis of technology and fashion into the creation of new and innovative apparels to add value to consumer experiences of comfort, convenience and style in an ecological way. ISGLOVETM was positioned as a differentiated product from its competitors, focusing on attributes which competitors were not able to satisfy and avoiding competition on mainstream features. Furthermore, the eco-friendly market, touch screen technology market and the Scandinavian glove market all showed great growth potential. For an upcoming presentation to investors, Charmain knew she had to articulate the company’s international sales and marketing strategy for ISGLOVESTM and its global sales potential. She also had to share the long term vision of the company beyond its gloves products.
: Case for NUS International Case Competition