Love Cashmere uses its manufacturing knowledge of cashmere to provide a specialised service...
I get enormous delight when I see creatives on my radar - whether individuals or companies - harnessing their intellectual assets in inventive ways to generate new revenues. Read on, enjoy, then think about what intellectual assets you could exploit...
Love Cashmere is a knitwear design studio based in Hawick. I know its retail shop well - ensuring I pop in whenever I'm visiting family on the Borders. As a centre of the UK's knitwear production, Hawick has faced all sorts of ups and downs similar to other manufacturing industries. However the team at Love has used its experience with this softest of wools to offer another service, generating useful revenue as well as a mailing list.
I first came across this service through newsletter The Midult - a witty take on life in your 40s and 50s that hits my inbox each morning. One of its posts listed companies you need in your life to keep your clothes up together. The 'cashmere care' service mentioned was provided by none other than Love Cashmere. The process is simple... Buy the service online, priced per garment, send them your holey, moth-nibbled, bobbled knits... Hey presto! Two weeks later your cashmere will come back magically mended. And of course you trust them because they know cashmere.
This is a really smart example of a company harnessing its commercial knowledge to offer a D2C service, complementing its retail store.
All companies have 'knowledge' that could form the basis of differing revenue models... When we work with companies to harness their intellectual assets, one of the key aspects we map is what commercial knowledge can be found in all areas of their business. Often overlooked, undervalued or not appreciated, it could provide a simple cornerstone of increasing revenue.
If you'd like us at Lola to come in to talk about mapping your intellectual assets to generate growth, drop us an email at email@example.com. Or find more information in our e-book Cake: A Creative's Guide to IP.