Switching from finance to entrepreneurship
12 Mar 2015
London Business School Incubator start-up MORI is the brainchild of three doting uncles. MORI was borne out of a desire to simplify the early stages of parenthood through a unique parcel service that delivers beautiful, refined baby essentials to your door.
Switching from Finance to Entrepreneurship
Three men - two from Investment Banking backgrounds - seem an unlikely team to setup a baby clothing company. Cameron Miller MBA2012 and Akin Onal worked at J.P. Morgan, and John Charles Gasser already has a successful publishing business.
As godfathers and uncles they each experienced frustration in finding gifts at the appropriate price and that would be useful, as well as seeing first-hand the frustration that their family and close friends shared in finding good quality, un-commoditised babywear.
Their backgrounds prepared them well to research and find a disruptive solution to traditional lines of businesses. They are part of the London Business School Incubator Programme, which provides the perfect platform for them to transition into this entrepreneurial venture: a state-of-the-art facility on campus, direct access to faculty as well as programme supporters (Deloitte Institute of Innovation and Entrepreneurship and Landor) and most importantly the opportunity to share ideas and pool resources with programme peers.
How does it work?
Every 6 weeks – just when a growing baby enters a new development period and new products are needed the most – MORI sends a parcel of baby essentials in a neutral colour palette. No pink, no blue. Each piece is created with the same uncomplicated style aesthetic; a cross between Scandinavian and Japanese simplicity. The clothing is made from a bamboo and cotton-mix. MORI's tissue-lined parcels fit through the letterbox so you can be getting on with your life, no signatures required.
The behaviour of the consumer is fast changing. UK mothers spend several hours on their mobile every day. They are therefore very e-commerce savvy and also online-social in order to exchange ideas and tips.
This is why MORI are using a variety of digital technologies to disrupt what is still a fairly traditional retail market. Whether via their streamlined subscription service platform or stimulated through customer interaction, support and engagement tools. The behavioural data they gather via their subscription services and engagement will help them to automate increasingly customised solutions.
MORI in the community
The word MORI comes from the Japanese word for forest and is a nod to the purity of nature. Much of MORI's collection is made from ultra-soft bamboo fibre, a fast-growing sustainable crop, which uses far less water to produce than cotton farming. Their luxury parcels are made without harsh glues and from recyclable materials.
They also believe that businesses can - and should - play an important role in the communities they serve, so they will give MORI members the option to send them, free of charge, any MORI products that are no longer needed so that they can be donated to children in need.