Battle of Minds 2023: Local Round

CONFIDENT
WOMAN

Doan Thai Yen Nhi Nguyen Nho Chau Uyen La Thi Le Quyen Nguyen Thi Ngoc Huyen
Overally, there is a rising demand for hair wig and extensions industry in recent years.

increasing demand for wigs

and hair extensions across
continents with annual
growth rate of approximately
5,3%
People of all ages use hair wigs, extensions for different reasons which has fueled the industry's demand.

Elderly people use wigs to deal Young people use wigs to change their Besides, people also use wigs A large number of wigs and hair extensions are
with age-related hair loss appearance following the trends to deal with hair related also used in the fashion industry
diseases like baldness

Problem Big Idea Target Customer Implementation ESG Values 1

 And especially for thousand of patients that loss hair
during cancer treatment, it is a pain for them to not
be able to purchase a single wig.

Price of natural hair: $83 - $625

Average monthly income of Vietnamese: $192

To satisfy the increasing demand, people gradually turn to artificial wigs

However, there is a raising concern about the environmental effect around artificial wigs.

Around 281 Around 814,9

As synthetic wigs mainly Million tonnes Million tonnes
made of polyester, acrylic or of plastic waste
PVC, it is not biodegradable of CO2 emissios
annually discharged anually

Problem Big Idea Target Customer Implementation ESG Values 2

Therefore, people gradually switch the demand to the natural hair, which has led to a number of problems
regarding human development both physically and mentally

In Myanmar, rising incidents of women’s hair being cut off at crowed places are reported (IOL News 2007)

Gangs in Johannesburg mug people for dreadlocks and ‘hair jacking’ is spreading (Fihlani 2013)

In Vietnam, hair hunters reportedly attacked girl schools in Lang Son province, near the Chinese border, and
forcibly hacked off their flowing tresses Daily News 2012, Dandberg 2008.

WHAT WE NEED IS THE GROWTH OF A

MORE GREEN, ETHICAL AND AFFORDABLE WIG INDUSTRY!

Problem Big Idea Target Customer Implementation ESG Values 3

 BIG IDEA
TURNING BANANA STEMS INTO

BaWi 1 0 0% NT
-BASE

Biodegradable Wig

D
A
PL

WI
FROM VIETNAMESE

G
BANANA STEMS
BaWi
Made 100% from banana plant using technology which
transfers banana stems into fiber, BaWi wig helps women
overcome their complex and boost self-confidence BaW
i
BE
CO
NFI
DEN
THA
N T TO
KY HAV
OU
FOR EH
YOU AIR
RO
RDE LOS
S
100% PLANT-BASED INGRIDIENTS R!

Safe for scalp and stop plastic waste

ENVIRONMENTALLY FRIENDLY PACKAGING

Easily recyclable and compostable

AFFORDABLE PRICE
Price lower than 80% competitors in the wig market

Problem Big Idea Target Customer Implementation ESG Values 4

The circular production process allows the sources to be fully utilised, which brings maximum sustainability benefits

Produce thin Make the Process bio-waste into

Harvest banana stems
strands of fibre organic wigs plant fertilizer

Ultilize
banana Smokeless
waste process

BAWI 's sustainable process

BASED
T-
N

W
PL

IG
Protect
rural BaWi
women Income
for
farmers
Sustainable 6. Fertilizer can be used
1. An organic and Beauty
sustainable source Products to re-create the source

2. Slit further and put into the 3. Fibre is sundried for 4. Sort as colored or black, then 5. Used wigs are
mechanized extraction machine about 2 hours and dyed cosmetically comb and pack collected

Problem Big Idea Target Customer Implementation ESG Values 5

 Positioning: Affordable Recyclable Wig

High price

No direct competitors

Undeposable Organic

BASED
T-
N

W
PL

IG
BaWi

Low price

Problem Big Idea Target Customer Implementation ESG Values 6

Young women could be the impactful changing source to the situation
18-34 years old
Main target Live in urban and rural Sub target
areas Woman suffer radiation therapy
Young Low to middle level of
income for cancer
woman
Reason to leverage

For women and girls, hair is primary identity

Women only feel empowered and confident by having
good hair
Sustainability is the top concern to young consumers
Willing to pay for products claim for supporting
environmental issues
Reason to include

NEED: Deserve all the basic rights of

a women to look beautiful and
Plant-based and affordable product confident
Female empowering value Feel down when have hair loss
during cancer treatments
Socially responsible companies

And including cancer women to create social values

could be a strategy to attract young customers

Problem Big Idea Target Customer Implementation ESG Values 7

 BUSINESS MODEL is clear and simple
Collecting
banana plant Working Process
Final product
deliver at company

Product deliver to
Young woman

NO SOCIAL
PERCEIVED VALUES
here!

BUT something is missing to leverage young customers's attention

The solution needs to have some social perceived value when young consumers make a purchase decision

Problem Big Idea Target Customer Implementation ESG Values 8

Raising the acknowledgement of female identity and buying is supporting cancer patients could
solve the environmental & price bottleneck, attracting young customers

For every 10 purchases, 1 wig is given away

Final product to cancer patients + Supportive activities
deliver at
company

Product deliver to
Young woman

Collecting Working
banana plant Process

USPs:
PROVIDE CHANCES FOR YOUNG
Biodegradable and sustainable (made from wasted resources) WOMEN TO REMOTE SUPPORT
Very competitive pricing which is suitable for young woman to purchase CANCER PATIENTS

(<26USD/product)
*Value-based promotion and marketing

Problem Big Idea Target Customer Implementation ESG Values 9

 "CONFIDENT WOMAN" platform
for every 10 purchases, 1 wig is given away ❤️

An integrated platform for updating

social marketing campaigns and social values

main purpose
Increase perceived values, attract young customers
attention through sympathy for cancer patients
Support cancer patients' mental health & increase
charity for them

#1
"Before and after"
Update challenges
we made for girls to
Customers can leave "a loving message"
enhance their self- #2 to cancer victims on every purchase
confidence

Problem Big Idea Target Customer Implementation ESG Values 10

 SOCIAL GOVERNANCE
More than 15M
urban people get access Change wig using behavior
to deposable hair 15M

extension farmers have

Save 1M extra income Ultilize available
rural and mountainous resources to produce
woman being attacked organic beauty goods

BaWi
for hair BAWI im
and export
p
et pr res ro
M
20 ents g
ig sa od ou ve
ti ic w ve uc rce
r pa an up tiv
ce rg
n o 10 ity,
a perfect
ca s to
c ces
.8
$
a

ESG solution Reduce 35% of CO2 from crop waste

Create biodegredable product

which can be reused for further
purpose

ENVIRONMENTAL

Problem Big Idea Target Customer Implementation ESG Values 11

In 5-year development plan, we expect to leverage Bawi brand image in Vietnamese market within the first 3 years, expanding to
America by year 4 and aiming for sustainable development in year 5
Stage 2024 2025 2026 2027 2028

Stage 1: Research and development

Analyse Vietnam market (consumer preferences, competitors,...)

Design product, production methods and material needed
Develop brand image, brand name, logo, packaging design
Conduct pilot test
Analyse customer fb, make improvement & adjustment

Stage 2: Product launching

Contact cancer patient that needed wig product/ngo

Identify Suppliers, Manufacturers, Distributors, Retailers
Building Onl Platform UX/UI design
Connect supply chain &distribute mass quantity
Analyse market reaction

Stage 3: Scale up

Marketing and promotion

Introduce new styles, colors
Enhance production capacity & Strengthen distribution channels
establish partnerships

Stage 4: Expansion

Explore international markets & develop distribution channels in new

regions.
Penetrate to new markets

Stage 5: Sustainable growth

Investing in research &development to stay at the forefront

Improve sustainability practices (energy efficiency, waste reduction)
1000+ cancer patient access 60%+ revenue grow rate
KPI 240 users of each product
for pilot test
30+ distributor
5k+ user for "confident woman"
50+ distributor
15k+ user for "confident woman"
penetrate to USA market
25k+ user for "confident woman"
reduce 20% Per product cost
obtain 5% market share

Problem Big Idea Target Customer Implementation ESG Values 12

MARKET OPPORTUNITY: A potential market with an annual growth rate of approximately 5,3%, Vietnam is our first target market
we aim to gain 5% market share in the next 5 years then in year 4 expand to US market

Our eco-friendly wig/extensions is priced competitively and well-

positioned to enter a promising market
TAM: The global market
Competive price: $21/single wig with a profit margin
$ 2.38 billion
CARG: 5,3% (2023-2028)

of 5.4%

Despite the local competitors' superior reputation, there is still an

$221 million
SAM: Vietnam
opportunity to succeed by offering an affordable organic and
ethical solution

SOM: The target is to capture 5%

$11 million
market share in Vietnam the next 5 Mic Hair Company

Vietnam Remy Hair Laylahair
years 51,56 USD/single wig 34 USD/single wig 185 USD/single wig

Order winner of BaWi: Providing a biodegradable wig that no other

business in Vietnam has done yet

Imports 56.6% of all wig imports of the world valued at $758 million
MARKET Huge demand for wigs for festivals:
In 2018, 42.000 people attented Zoombie Walk
EXPANSION
2019: Halloween spending for wig reached $8.8 billion
US (especially North America)
Rising popularity of people participating in the costume-based gathering heightened the consumption rate

Problem Big Idea Target Customer Implementation ESG Values 13

 Marketing plan
PHASE 1: PHASE 2: PHASE 3:
PRE-LAUNCH LAUNCHING POST-LAUNCH

Raising the awareness self- To engage young women in Create meaningful

confidence in women and challenges to build their self- activities,
for every 10
purchases, 1 wig is
OBJECTIVES confidence and have the remote
given away ❤️
environmental problems of enhance branding
natural/synthetic hair support to cancer
"a loving message"
"Confident woman" of BaWi
patient's mental health

Show the positive sides of Be the bridge to connect young Be the supporter of
BRAND ROLE plant-based wigs and woman together and cancer cancer patients in the
criticise the negative effects patients to enhance social pathway of having the
of current wigs values of BaWi power of beauty

Offline: OOH, Billboard Offline: Charitable activities

SUPPORTING Online: Facebook, KOLs, social media, E- Online: Facebook, Titkok,
TATICS Youtube, Tiktok, Commerce, Sampling, Instagram, PR ads, E-
Instargram, PR ads. Promotion, Digital commerce

Problem Big Idea Target Customer Implementation ESG Values 14

 "CONFIDENT WOMAN" campaign
TO CLAIM THAT WOMEN DESERVE TO FEEL CONFIDENT WITH THE PERSONAL STORY ABOUT THEIR NATURAL HAIR (BALDNESS, ALOPECIA OR
PURPOSE CURLY HAIR…), WHICH ARE PERCEIVED AS A SUFFERANCE, AS A LOSS OF SELF AND CONSIDERABLY AFFECTS THEIR QUALITY OF LIFE.

KEY
ENHANCE WOMAN'S CONFIDENT WITH BAWI'S WIGS
MESSAGES

TOOLS Advertising Digital marketing

KOLs+ Online challenge
Make people create ideas of hairstyles from BaWi to cover
TATICS their hair loss products and share the result online with the
OOH Display ads Advertiser Funded hashtag #Confidentwoman
Programming and share their feelings sympathy to cancer patient in the


caption
+Influencers joining to share the message

Communication TikTok, Facebook

CHANNELS BUS ADS, BILLBOARDS
channels
Fashion shows in Vietnam

HAVING A NEW IT'S NOT MY NATURAL

LOOK MADE ME HAIR. BUT I LOOK
FEEL CONFIDENT HAVING A NEW GOOD THOUGH!
LOOK MADE ME BASED
T-
FEEL CONFIDENT N

W
PLA
DEMO

IG
BaWi

BASED
T-
N
There are 11 thousands
W
PLA

IG

cancer woman are

feeling worried of
choosing types of wigs
due to having hair loss

15
PURPOSE: to guide customer's decision-making
in any trading activity they undertake Trade plan
HAIR SALON
CHANNELS E-COM WEBSITE SHOPPING MALL RETAILERS
STORE

Faux hair
PRODUCT Faux hair
shelves,
POSITION shelves
hair care
DISPLAY
At the shop UX/UI POP-UP STORE ON shelves

homepage Maximization THE FIRST FLOOR

POSM/POP At At eyesight
eyesight Easy to see,
POSITION ( poster,
(poster, neat &
dangeler clean

5% Discount when purchasing above 3 10% off for wholesalers

PROMOTION products Quarterly bonus for sales-point
Giftsets, vouchers for the first customers KPI reach

DISTRIBUTION 60% coverage in Modern Trade and General Trade distribution

-BASED
NT
-BASE
NT W
A
10 0%

D
A
PL

WI

IG
PL
G
BaWi

FROM VIETNAMESE

DEMO
BANANA STEMS

BASE
NT- D
LA

BaWi

W
IG
16
FROM VIETNA
MESE
BANANA STEMS
 Revenue grow Unit sales
Price (based on cost per unit)
USD 300.000 12.500
Financial performance Wig - 500,000 VND
Hair extention - 600,000 VND 10.000

Wig clip - 100,000 VND 200.000

7.500

Assumption 5.000
100.000
Annually rev grow rate ~ 70% (for start up firm)
Desire ending inventory [production]: 10% of next month sales 2.500
Desire ending inventory [DM]: 10% of next moth production
Tax rate: 20% 0 0

24

25

26

27

28

29

24

25

26

27

28

29
20
20
20

20
20
20

20
20
20

20
20
20
Profit margin 5.4% Revenue Break down
USD
Bawi focus on Onl marketing campaing "Confident ... and future desire is to become the main distributors
400.000 Woman" to boost Onl sales for fashion industry (fashion show, runway, salon,...)
Online Offline Coporation Individual
300.000 500.000 USD 500.000 USD

400.000 400.000
200.000
300.000 300.000
100.000
200.000 200.000

0
100.000 100.000

-100.000 0 0
2024 2025 2026 2027 2028 2024 2025 2026 2027 2028 2024 2025 2026 2027 2028

Problem Big Idea Target Customer Implementation ESG Values 17

 What we put in the business: 42,500 USD
Funding needed: 31,200 USD Fundraising

20% Family & Friend More accessibility to be funded in early stage Stage 1

80%
Provide mentorship, guidance, & strategic R&D
support beyond financial investment 20%
Find through: Vietnam Angel Network and Infrastructure
30% Angel investor Mekong Angel Investors Network - prominent
angel investor networks in Vietnam
31,200

usd

Often provide larger sums of money

Ministry of Agriculture and Rural Development: Stage 3
20% Government grant MARD focuses on agricultural development in
rural areas, often grant programs aimed at 60%
sustainable farming practices Marketing

Relatively easier to obtain compared to

30%
Strengthen
government grants or angel investments
Partnerships
30% NGOs Oxfam Vietnam: Oxfam supports initiatives
related to agriculture, sustainability, and social 10%
impacts R&D

Problem Big Idea Target Customer Implementation ESG Values 18

 Risks Mitigations
Finally, as a leading start up
Limited awareness, - Develop comprehensive marketing campaign Confident woman to raise
about banana hair product acceptance of banana- awareness
in Vietnam, predicting #1 based hair, small - Utilize various marketing channels (social media, fashion show/game show,
upon risks helps Bawi stay adoption rate influencer partnerships, KOL, model)
active in competitions
High cost at early stage - Accept negative profit in early stage
#2 (research, development, - Beside Personal Savings, seek fundraising from Friends, Family, Grants, Angel
machine) Investors

Risk matric Risk of not being

- Establish and maintain positive reputation with a clear green Value
Proposition
accepted by partners - Demonstrate flexibility and responsiveness during negotiations and discussions,
#3
High

parties (suppliers, KOL, show willingness for collaboration

1 distributors, ngo..) - Have appropriate payment, reward to promote incentive (commision level,
salaries,...)
3
Impact

Inconsistent quality & - Establish long-term partnerships with local banana suppliers or farmers
4 2 #4 quantity of bananas for - Have clear quality control process of raw material
production - Develop plan for alternative sourcing semiannually
5
- ensure to have and always align with organic or eco certification, stricten the
6 False negative public
#5 assumption
quality control of every stage
- promote open business communication and feedback
Low

Low High Increased competition - Continuously innovate, become the market leader
Probability #6
from existing hair - Focus on creating strong brand name and promoting customer centric service
manufacturers or new (Latter comes to the market will further enhance customer awareness, shifting
entrants their behaviour) 19
 Ownership structure

CEO CFO CMO CPO

La Thi Le Quyen Nguyen Nho Chau Uyen Doan Thai Yen Nhi Nguyen Thi Ngoc Huyen

Problem Big Idea Target Customer Implementation ESG Values 20

 BaWi
"a sustainable
& ethical solution
to woman's confident"
 main slide
1. Situation: Rising demand for wig industry
2. Problem: Environmental concern

Appendix
3. Problem: Ethical concern
4. Big idea: BaWi
5. Production Process
6. Market positioning
7. Target customer & Sub-target
supporting material 8. Original customer journey
9. Innovative customer journey
10. Innovative platform: Confident Woman
21. Appendix: slide structure 11. ESG values
22. Cost structure 12. 5 year plan
23. NGO partner 13. Expansion plan
14. Marekting Plan
15. Campaign "Confident Woman"
16. Trade Plan
17. Financial performance
18. Fundrasing
19. Risk and mitigation strategy
20. Ownership structure

21
Cost structure Assumptions
comission: 4% of sales
tranportation: 3% of sales
Bawi cost structure increase significantly in the first labour pay: 30,000 vnd/hour
2 years for penetration purpose, marketing activity minimum pay: 2000 hours/month
is highly emphasised then slow down reaching increase overtime wage rate: 1.2
sustainable level in later stage electric price: 1,685 đ/kWh
water price: 12,100 đ/m3
marketing cost increase rapid from year 2 cause of "Confident woman" campaign
and expansion purpose
125.000 USD

Break even point give away wig as 5% of revenue

100.000
bear loss in first year to do pilot
1.000
testing, break even after 1 year
operating
75.000
750

50.000 500

employees
benefit make 250
25.000 huge wage
cost

0
2024 2025 2026 2027 2028
0
2024 2025 2026 2027 2028
22
Bawi actively reach out to local NGOs and NPOs in Vietnam to seek their assistance and collaboration.

NAME INTRODUCTION APPROACH

Founded in 2013, devoted to providing

information, connecting resources, and
Help distribute our wigs to breast
BREAST CANCER safe sharing. for those who care about or
cancer patients.
get breast cancer.
NETWORK Scale: 5000 Collaborators from more than
Expected outcome: Help 5,000 cancer
patients have wigs within 5 years.
VIETNAM BCNV 30 partners in businesses and
organizations.

Support women's fight against unethical

Represent, care and protect the
practices such as hair hunting and
legitimate, legal rights and interests of
VIETNAM promoting the use of organic wig in
women from all walks of life. environmental programs.
WOMEN'S UNION Scale: Partnership with more than 300 Expected outcome: No more hair hunting in
organizations from more than 60 the next 5 years. Reach out 20 million
countries and territories. women and increase 20% consumer
conversion rate.

OXAFAM A global movement of people working Call for funds to run our activities from
together to end the injustice of poverty Oxafam Vietnam
VIETNAM Scale: 21 member organizations working Expected outcome: Call for funds at
in 87 countries. least 9360 USD

23