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pre-ordering retail fashion for independent fashion designers

Crowdfunding and Crowdsourcing Fashion

In one of our previous posts we highlighted some of the challenges that aspiring fashion designers encounter when starting up their businesses (you can find the full article here). To sum up, here are the top three problems:
INITIAL FUNDING – FORECASTING DEMAND – GETTING PRE-ORDERS

Let’s be honest, the fashion industry does not take full advantage of the advancements in IT, and the designers have to be very creative to overcome their challenges. Many resort to major online marketplaces to sell their creations. These work for designers offering custom made products – and they can sell one item at a time based on customer’s requirements. On the downside, the designers can’t source materials in large quantities because of the unpredictability in demand and they end up sourcing expensive supplies and pass that cost to the buyer. Furthermore, it is very difficult for the buyer to find a particular designer as these marketplaces become more like a universe of everything for everyone (For example, Etsy reportedly has over 800,000 active shops).

What we’ve recently noticed is that independent fashion designers are now appealing to the public to support their businesses and they do it on crowdfunding websites. Still, the fashion category on Kickstarter has the lowest success rate. We believe this is because the existing crowdfunding platforms don’t make for an elegant e-commerce solution. Consumers can’t really shop the designers’ products, but rather “donate” in return for different types of rewards. Crowdfunding works for fashion retailers that sell single products (such as the super-famous pebble watch); however, they don’t work as well for fashion designers that sell multiple products. crowdfunding fashion

Finally, a lot of new designers try crowdsourcing their designs, which takes care of the second obstacle they encounter – forecasting demand. By using a voting, liking and sharing system you can learn from your potential buyers more than if you were to investigate yourself. You can choose to produce only the most popular products or modify your collection based on consumer’s feedback. Still – desirability doesn’t necessarily translate into orders, as the potential buyers are not required to commit to a purchase.

At Luevo, we are working hard to develop a new kind of crowdfunding solution specifically targeted at aspiring and emerging independent fashion designers. We will use a combination of best practices from existing crowdfunding and crowdsourcing business models to create one solution to a designer’s top three challenges. We understand that as independent fashion designers you have certain production requirements. On our platform you will be able to obtain the pre-orders you need by crowdsourcing your demand.

You can find out more on how our fashion crowdfunding platform works here.

Emerging Fashion Designers Launched at the Oscars

The Academy Awards are known for launching emerging fashion designers. A relatively unknown designer is introduced to millions of people at one single event. Some of the world’s most recognized starlets will be photographed wearing an independent label and we wonder who is going to be the next Elie Saab?
The Beirut-born emerging fashion designer Elie Saab, became a household name when Halle Berry walked out on the Oscar’s red-carpet in the now world-famous maroon dress, in 2002. It is estimated that Saab received the equivalent of  $25 million worth of publicity. She soon after joined the ranks of Chanel and Dior (read full article from Business Mirror here).


But what if you are an accessories designer? Even better! You have the opportunity to give a taste of your products to tens of A-listers in their “freebie” gifts. And that is exactly what Ms. Lauren Merkin a handbag designer from New York did. She spent more than $30,000 to have her handbags showcased in the “freebies” lounge at the Independent Spirit Awards the day before the Oscars. She also created a special red-carpet collection, hoping that some starlets will pick her handbags for the actual Awards ceremony. This is a high price to pay for a small business owner however the exposure is definitely worth it. Now Ms. Merkin’s handbags are sold internationally and have been favored by comedian Sarah Silverman, “Desperate Housewives” star Nicollette Sheridan and Jessica Simpson.

A story that recently drew my attention came from emerging Canadian jewelry designer Tiffany Haziza of Buddha & the Raven Studios. In 2011 she had the opportunity of having one of her products (a pearl and Swarovski crystals necklace) offered in the gift bags at the Academy Awards in 2011. Now she is running a successful business, receives custom orders from TV stars and sales internationally.


Indeed, the Academy Awards and other red carpet events are the catalyst that many emerging designers need to take their businesses further. Of course, you need a bit of good luck and a couple of connections to get you in, so start networking early. Build strong relationships with publicists and celebrity stylists and get to know the stars and what they are likely to wear at a red carpet event. Also, make sure you budget accordingly, you need to create a special collection just for that event and consider that a marketing expense.

Halle Berry at the Academy Awards, 2002.

Halle Berry at the Academy Awards, 2002.

Lauren Merkin Clutch emerging designer

Lauren Merkin Clutch

Tiffany from Buddha & The Raven Studio, emerging designer

Tiffany from Buddha & The Raven Studio

 

 

Featured Designer of the Week: Claudia Llado

Over the next few months, we will be shining a spotlight on some of the most unique designers to hit the streets of T.O.

This week, we would like to introduce Claudia Llado, a talented jewellery designer and artist from Peru who uses inspiration from her travels to design high-end, handmade products with universal appeal. Specializing in unique designs, Claudia produces only a small number of must-have pieces that remain available only as long as supplies last.

All of Claudia’s accessories including rings, bracelets and necklaces are made with 950 Sterling Silver, and come in a hand embroidered gift bag made from 100% natural cotton and designed by the artist herself.

These eye-catching pieces provide a unique twist on classic favorites and are a great way to accessorize featured items from our signature coat and jacket line. Exclusive collection from Claudia will soon be available for purchase online at Luevo.

c.l-square-ring c.l-web-pendant c.l-wire-ringc.l-wire-earrings