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Polimoda graduates win The Mark Challenge with business concept Only One

By FashionUnited

Jul 30, 2021

News

Anne-Sophie Van der Poel, Sophia Odey, and Sofía Gómez Lara of the Polimoda Master in Luxury Business won the 8th edition of the Mark Challenge 2021 with their business concept Only One. The challenge was composed of over 120 teams from 45 Universities and Business schools.

The Mark Challenge, a luxury business competition organized by the International University of Monaco (IUM), provides students the opportunity to create innovative business ideas with a focus on sustainability for the premium and luxury sectors and to pitch them to a professional panel of potential investors and community leaders.

Only One wins The Mark Challenge 2021

The concept of the three graduates stood out with their presentation and their innovative business concept. Only One is a digital auction platform where unique vintage and second-hand pieces are paired with a customized travel experience that coincides with the story behind the piece. “By tailoring an unforgettable travel experience to the piece, the platform disrupts the current dimensionless second-hand industry and offers customers comparable emotional satisfaction to that offered by new luxury, which is increasingly associated with more than just a product.”

“We started with a mere idea and we transformed it into a detailed business plan and concept that was ready to launch. Throughout the 3-month journey to the top, we applied what we learned in the classroom and went through a series of stages where we had to convince a different panel of experts that our concept was good enough for the market. We received a lot of feedback to improve along the way, as well as constructive input from our Mentor and Polimoda Professor Stefano Mangini.”

The Mark Challenge was held in a hybrid format. The first two stages took place virtually with the semifinal consisting of an online battle where the teams not only had to convince a jury of angel investors, luxury and sustainability professionals and academics but also the other participating teams. For the Grand Finale, the finalists pitched their concepts on the Yacht Club de Monaco stage.

Images: Polimoda