Protecting digital assets within the beauty industry

Ellure is a Stockholm-based company that offers an innovative platform for mass-customisation of beauty products. Their technology enables brands and retailers to create personalised cosmetics in real-time, directly into final packaging using IoT and machine learning-powered cosmetic printers. This approach reduces waste, enhances customer engagement, and integrates seamlessly with existing digital infrastructure, providing a sustainable and scalable solution for the beauty industry.

While the company was actively involved in various pilot projects and tests with potential customers, the leadership considered that there was a considerable risk that the technology would be replicated by competitors or partners. Ellure needed to formulate a strategy for protecting and leveraging their technology and knowledge assets.

Intellectual assets encompass a wide range of complex topics, from competitor analysis and business model evaluation to customer value delivery and the complex nuances of legal and intellectual property considerations. Each of these domains requires specialised expertise, often placing them out of reach for smaller businesses due to cost and accessibility barriers. To address this challenge, an iterative and coaching-centered methodology was developed, enabling companies to gain valuable insights while simultaneously strengthening their strategic decision-making capabilities.

Ellure was offered a series of personalised coaching sessions focused on:

• Comprehensive Asset Overview: A deep dive into Ellure's assets to assess their value and identify those in need of stronger protection.

• Introduction to Intellectual Property Tools: A thorough exploration of various IP tools, outlining protection mechanisms, their advantages and disadvantages, and a breakdown of associated costs.

• Competitive Landscape Analysis: Utilising patent searches to conduct a detailed competitive analysis, helping to validate Ellure’s valuable assets within the broader market context.

• Tailored IP Strategy Recommendations: Culminating in personalised advice for developing an effective intellectual property strategy, preparing the company with the necessary insights and materials for informed strategic decision-making.

The coaching sessions enabled Ellure to prepare a detailed action plan not only to safeguard their most valuable assets but also to reassess and validate their business model through in-depth competitor analysis. The sessions facilitated several key outcomes:

• Strategic Grasp of Intellectual Property Issues: Ellure’s leadership gained a deeper, strategic understanding of critical intellectual property challenges, empowering them to navigate potential legal and operational risks more effectively.

• Comprehensive Business Model Review: The coaching prompted a thorough evaluation of Ellure’s existing business model, leading to the integration of digital assets—such as proprietary software and data—into the company’s overall value proposition, strengthening its market offering.

• Reevaluation of Core Company Assets: Through the sessions, Ellure reconsidered and redefined the primary assets driving their business, ensuring they are aligned with the company’s long-term goals and competitive strategy.

• Competitor Intelligence: The company was provided with a detailed competitor landscape, which became a crucial resource for strategic decision-making, helping to position Ellure advantageously in its industry.

•  Actionable Insights for Competitive Positioning: Clear and actionable steps were identified for securing Ellure’s competitive edge, focusing on leveraging intellectual assets and improving market differentiation.

The coaching process culminated in the presentation of these results in a well-structured and documented report, designed for both internal strategic use and external stakeholders, ensuring Ellure is well-equipped for future growth and innovation.

What worked well:

• The ongoing dialogue with Ellure was highly effective, promoting an environment of close collaboration. This open communication allowed the company to actively engage with the analysis findings, ensuring a more tailored and relevant approach to their needs.

• Client-driven requests for additional information were met with responsiveness, which significantly enriched the depth and precision of the strategy development process. This active exchange enhanced the overall quality and applicability of the strategic recommendations.

What could be improved:

• Although the coaching sessions and strategic recommendations were successful, Ellure's need for funding to support IP protection presented significant challenges. The financial constraints caused delays in the implementation of several key recommendations, exposing a critical gap in resource allocation.