FashionStake: a crowd-curated fashion marketplace
FashionStake is a crowd-funded online marketplace with “democratize fashion” as its motto. Consumers can browse online collections and invest in a designer by buying a “stake” in their line, starting with $50 investments. In return they get credit towards future purchases, invites to showroom viewings, sales, and other special offers. They will also be able to vote and share their thoughts on the various items showcased on the site as well as shop for pieces that are already in production which ship immediately.
The aim of the site is to bring the ideas of the designer directly to the consumer who, ultimately, determines a collection’s success if not aesthetically, then certainly financially. By voting for your favourites, you also help decide which pieces get made—and more importantly, don’t, which saves tons of fabric from going into clothes that nobody will want to buy.
We think crowd sourcing is a great way to support up and coming designers – how it affects the creative process remains to be seen – but at least it gives designers a chance to prove themselves (whilst reducing waste at the same time). It will be interesting to see how it grows and affects other industries, we are already aware of Made.com, a furniture website that also produces items based on what consumers vote for (and well worth a visit). We can’t wait to see what happens next.
Here’s more information from FashionStake:
Here at FS, we’re totally focused on scouring the world for the most talented, amazing, awe-inspiring emerging designers and bringing them to you every single day. Your job is to shine a spotlight on them. Shop hand-picked pieces you won’t find in department stores. Help fund new collections by pre-ordering items. Vote up your favourites. Be part of our very own fashion democracy.
So what’s the backstory behind this interesting little company? Well, FashionStake was actually born out of founder Vivian Weng’s personal frustration. After spending her life working with major designers such as Elie Tahari and ESCADA, as well as emerging designers such as Jeffrey Monteiro, Vivian knew first-hand how difficult it was for designers to reach their target audience, no matter how amazing their collections were. Moreover, as a fashion-lover, she was frustrated at paying sky-high prices at department stores for relatively uninspiring items. The fashion industry seemed broken.
While at Harvard Business School in September 2009, Vivian and her classmate, Daniel Gulati, teamed up and dreamed of a new era of “designer direct fashion”. FashionStake was officially born.
Since that day, we’ve been busy building a vibrant community of fashion-lovers like you. After launching in September 2010, we’ve received widespread press coverage from the likes of Vogue, Mashable, WWD, Fast Company and ELLE magazine. But what’s really important to us? People like you, of course! People who want to stand out, support independent designers and spend their hard-earned money on clothes they’ll wear and love. So snoop around our website knowing that while stylin’ it up, you’re helping fix a broken industry. You’re democratizing fashion!
For further information please visit:
FashionStake – www.fashionstake.com
Made – www.made.com