University Startup Challenge 2021: KrafLah

Contact: Jeremy Lau Wei Han

KrafLah is designed to revitalize our local handicraft industry through rebranding the crafts to establish a sustainable market.


RM 313

pledge of RM 2,500 goal

1 September 2021 16 October 2021

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Project Summary

Problem

The Malaysia traditional handicraft industry is in danger of dying out in the next few years as it is mostly in the hands of an ageing population and the current COVID-19 pandemic has made it worse.

The sales value has dropped from 519 million in the year 2019 to 182 million in 2020.

Solution

KrafLah brings traditional handicrafts to the brand new online platform where we prioritized an all rounded and sustainable approach.

We implement a 3 steps solution, we first purchase the handicrafts from local craftsmen, we then rebrand the product and we sell them out.

 

Our Value Proposition

We aim to be the top notch lifestyle brand that suits people’s routine through its simple platform specialised for local traditional products.

Made by Malaysians, for Malaysians.

 

Target Market

Our market segment mainly prioritizes working adults with high buying power within Klang Valley.

 

 

Our potential market size is made up of 4.37 million people with an estimation of RM100 average revenue per person. 

 

Business Model

Our revenue stream includes retailing and advertisements. The entire business model is built on the Business to Consumer (B to C) basis using the e-commerce model.

 

 

Go To Market Strategy

Our team incorporates an all rounded grassroots and digital marketing to build a concrete brand awareness.  

                            Check It Out  -> Prototype

 

Funds

Target: RM 2500

Our funds will be used solely to invest on our first batch of products. 

  • RM 1750 - Cost of Goods (3 months)
  • RM 500 - Marketing (3 months)
  • RM 250 - IT Subscriptions (3 months)

 

Our Team

We are a team with unified and clear goals

Kraflah is the vision that we uphold, to appreciate the beauty of our Malaysian culture and also to lend a hand to our local creators.

 



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