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BEWOOD - An Entrepreneur's Pricing Question
Created in 2015, BEWOOD was a sustainable fashion brand start-up in Lille, France that sold a range of products with wood as their primary component. The company's best-selling product was a wooden bow tie named "Mr. Divergent." In March 2018, Laury Bonjean, founder and owner of BEWOOD, had four options for growth available to her and had to decide which of these to act on and, most importantly, how to price them. She was considering offering two new products (a Father's Day box set and a subscription box) and had two new channel opportunities (a trendy shop wanted to sell her products and a pop-up store had invited her to participate). While these began as product and distribution decisions, Bonjean felt that pricing formed a huge part of the strategizing. Using qualitative and quantitative information she needed to decide how to proceed and needed to do so very soon.