Jewelry brand Little Thing appeared in the middle of 2010s as a result of local jewelry market growth and increased demand for minimalist jewelry in Russia. The launch of an online store was a logical step to increase brand’s revenue and reduce the involvement of partner networks in sales. Customers could now buy limited jewelry collections directly from the factory or place bespoke orders online.

An online store allowed a product team to gain insights into customer experience with minimal cost and resources: we were able to communicate directly with the users and find out their preferences. The product proved to be a big success giving us full detail into the pain points of jewelry lovers. We were also able to improve the order system and inner management. The knowledge we gained allowed us to build a positive unit economy, adjust jewelry design that meets customer needs and manufacturing capacity, and form an assortment matrix with minimal leftovers.

The MVP of the online store (web) was launched in 3 months. We reached a positive Net Present Value by the end of the fourth year. In 2020 the brand was taken over by a larger market player for a price 15 times more the initial investment.

FEATURE

The "Conscious Consumption" loyalty program allowed customers to exchange their old jewelry (which no longer met their needs) for custom orders and limited-edition brand items. Thus, placing custom orders became cheaper for customers, and the company reduced the cost of buying precious metals for further production.

The initiative encouraged customer retention and acquired new ones.

As a Founder and Product Manager of Little Thing, I oversaw the product lifecycle and was responsible for business development and establishing commercial relationships.

I led the product team under the core functionality to provide customers with user-friendly service and employees with convenient and fast order processing. It was important to identify the target audience, align the product vision with market needs and business strategy, and ensure a high quality product and its fail-safe delivery.

My primary focus:

· Team management and efficiency.

· Financial accounting, profitability and fundraising (P&L, Cash Flow, Balance Sheet).

· Brand vision, Product strategy, Go-to-Market & B2B partnerships.

· Jewelry design & Production.

· Launched an online store that generated 120% revenue growth in the first year.

· Designed and implemented a zero-waste customer loyalty program, which increased bespoke order conversion by 2.6x and revenue lift by 60% MoM.

· Supervised commercial relationship: expanded partners network to 3 factories, 4+ workshops, and 7+ stores and represented the company at Milan Jewelry Week 2019.

· Created 3 jewelry collections, improving skills in jewelry design and 3D modeling.

· Defined Product strategy, Customer acquisition strategy, and Go-to-Market strategy.

· Developed leadership skills by building an effective in-house team and improved communication among all team members.