Laguna : Platform Jual Beli Luxury Fashion

The internet has been one of the most transformative and fast- growing technologies. The increasing number of internet users has an impact on digital economy. Indonesia is predicted to be the fastest- growing and largest digital economy in Asia. E-commerce and ride hailing become the main industry as the digital payment dominating all the app services. Therefore, this current situation is the best time to expand Laguna’s market share. The problem that Laguna identified is the difficulty in finding reliable luxury fashion, because up until now, there are still few platforms that provide safety and security for customers. Each type of product has different problems. Thus, by seeing the problems faced by customers, Laguna offers a platform in the form of a marketplace for luxury fashion. This platform offers luxury products with new and second-hand conditions where buyers and sellers can find luxury fashion with highest quality in just one click. Based on data from Euromonitor 2020, it shows that the growth rate of the luxury fashion market size in Indonesia continues to grow as shown at the movement from 2014 to 2019. In 2014, the market size of luxury fashion in Indonesia was recorded at 30,313.8. Then it increased by 9.26% in the following year, at 33,120.9 in 2015. Market size continued to show growth in 2019, which was 43,721.5. On the other hand, Laguna is also calculating their market size by counting total addressable market, serviceable available market, and serviceable obtainable market in order to get realistic target number. Laguna targeted 10% of serviceable available market, which is around 54.268 customer to be achieved in the first year. Founded in Jakarta, Indonesia, Laguna is curating the most exquisite luxury pieces from around the world, hand selecting the finest designer pieces from bags, shoes and accessories from the most coveted fashion houses. Laguna place great importance on authenticity and quality in every luxury pieces to be the most trusted marketplace for authenticated luxury. Their mission is to create a sustainable marketplace where the finest collection of pre-owned luxury and vintage pieces can find their new homes. Laguna elevated traditional vintage shopping into a high fashion experience through our unique curated vision and concept. Currently, Laguna focus on customers’ success in making transactions on the website. Thus, Laguna continue to do iteration to simplify and speed up transaction process. To maximized results, Laguna applies several growth tactics by utilizing several channels, including content marketing. Laguna is active in making videos as well as blogs to create interactive website for customers. Not only that, Laguna is also active in search marketing to be able to continue to grow among other competitors. In addition, Laguna has advertised on several social media to expand the target market. In terms of organization, Laguna choose to implement functional structure as a form of organization aimed at work effectiveness and efficiency. There are 5 divisions in Laguna, such as operations, marketing, design, development (IT), and finance, which includes HR and administration. In the next 3 years, Laguna is planning to open flagship store in Jakarta. Laguna’s flagship store will be acting as a showcase to provides an opportunity for customers to experience the brand in an innovative and memorable way. Other than that, the purpose of opening this physical store is to raise brand awareness and to fulfil customer’s satisfaction in the future. Furthermore, in the next 5 years, Laguna is planning to expand their target market into global market. The first targeted countries are South East Asia countries such as Singapore, Malaysia, and Thailand. Laguna believed that expanding to global market is possible to be achieved with the continued development of the technology. Laguna’s valuation in 2025 is around IDR 29,436,000,000. Laguna is planning to be funded by venture capital in Indonesia. The funds will be used mostly for operating cost and marketing cost. The purpose of funding is to increase Laguna’s visibility and attracts the attention of the markets. It also adds value to Laguna and shows to prospective partners and customers, as well as to future investors.