crowdfunding
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“If you have a killer idea for handmade Father’s Day tool belts—but don’t have the cash to get started—Etsy just made life a little easier. Today, the online marketplace announced Fund on Etsy, its own spin on the crowdfunding model made popular by Kickstarter and Indiegogo.”

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Decoded Fashion - Fashion Tech Daily -  Etsy x Crowdfunding
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“Crowdfunding is enabling new fashion startups to fight against the industry norm of manufacturing in Asia by bringing production closer to home thanks to lower minimum orders, willing local manufacturers and the trend of unique, customized clothing.”

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Decoded Fashion - Fashion Tech Daily
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“Whether it’s a card game or a whole gaming console, the crowdfunding transaction is more than just finance. It’s tribal. It’s a movement.”

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Decoded Fashion - Fashion Tech Daily

Decoded Fashion - Fashion Tech Daily - Fashion Crowdfunding

The most popular crowdfunding websites are those that cater to multiple industries, such as Kickstarter and Indiegogo, whose ‘Go Crowdfund Britain’ tour ended just last week. Online retail giant Alibaba also recently launched their own crowdfunding site for movies and amassed 240’000 users in the first two days alone. With their rival JD recently jumping into the space with a crowdfunding site named Coufenzi. We’ve also seen various startups emerge in the fashion space, each of which work in slightly different ways and cater to different audiences. So, what are the advantages for these smaller scale versions? We take a look at the market:

One of the first fashion crowdsourcing websites to enter the scene was Beta Brand, which predominantly features casual wear and was founded in San Francisco in 2009. It allows customers to vote for designs, when a design receives enough votes a prototype of it is manufactured. If the prototype in turn receives enough crowdfunding, it will be turned into a product that is available for purchase on-site.

The Parisian startup I Am La Mode and the New York-based Before The Label, both founded in 2012, work in a similar way. On Before The Label, customers can pre-order designs and these are then manufactured once the target amount of pre-orders have been placed. On I Am La Mode, people can back a project in exchange for a so-called pledge, which is a gift that can be related to the project, but does not have to be. While both appear to cater to women only, I Am La Mode has a high-fashion feel and Before The Label works closely with charitable organisations.

Last year saw the launch of London-based Wowcracy, BuoyUp, and Luevo. The first has partnered up with Vogue Talents to scout for new designer talent, whilst the second caps the availability of each product so as to maintain exclusivity. Like BuoyUp, Luevo also aims to help aspiring designers take off, rather than just letting anyone post individual projects.

Then there’s the recently launched French Meet My Designer, which lets people invest in projects curated by the site. If an investment target is reached, all investors receive a 20% discount on the finished collection or design, and they will also be rewarded royalties in proportion to their investment for the first three months. This self-proclaimed ‘Kickstarter for Fashion’ already features 200 designers from over 40 countries (more information about them here).

Startups and aspiring fashion designers are spoilt for choice – so the question here is, do they think they will be more successful by targeting anyone and everyone, or do they wish to reach a more selectively curated audience?

Reported by Anna Abrell

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“Founded just 8 months ago by Toulouse-based team Boris Mounet and Fabien Millerand, Meet My Designer (aka MMD) is a crowdfunding platform and marketplace for up-and-coming designers looking to bring their new collections to market. As financing their collections is generally the principal barrier for new designers, MMD gives those who’d ultimately be consumers an ability to fund the new collection and, of course, be amongst the first to get their hands on the collection once it’s launched. In an additional perk, those supporting the designers’ campaigns also have exclusive access to MMD-only discounts and runway show tickets. To get started on the platform, each designer creates their own ‘concept store’ where they can sell items from their existing collection and/or launch a campaign to fund their next one.”

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Decoded Fashion - Fashion Tech Daily - Meet My Designer
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“China’s second-biggest ecommerce firm JD yesterday launched a new Kickstarter-like crowdfunding platform (hat-tip to TechNode). Fenziqian has 12 projects so far, sporting a combination of gadgets, movies, charity drives, and concerts.

The site bears a strong resemblance to Demohour, currently the biggest crowdfunding site in China with an emphasis on consumer electronics. Demohour has earned its reputation as the go-to place to crowdfund new gadgets in China, but JD certainly poses a threat with its far broader name recognition. Other Chinese crowdfunding sites include Dreamore, Knewbie, Angelcrunch, and iChuangye.”

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Decoded Fashion - Fashion Tech Daily
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“London based jersey clothing and cotton manufacturer East End has raised £250,000 through a crowd-funding initiative as it expands to supply Asos for the first time.”

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Decoded Fashion - Fashion Tech Daily - East End Manufacturing

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“Crowdemand, which launched Tuesday, uses similar methods as Kickstarter to connect designers directly with their customers. Designers will post their work on the site and during a two-week campaign period consumers will pre-order the items they want.”

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Decoded Fashion - Fashion Tech Daily Crowdemand

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“There is a global need to make it easier for great ideas to connect [startups] with the capital they need; whether that be financial or more importantly, human capital,” One Spark founder Elton Rivas said. “One Spark addresses that pain. The opportunity for investments provides incentive, crowdfunding provides real-time market validation and engagement with attendees, and layering on a festival atmosphere allows for an open, positive atmosphere.”

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Decoded Fashion Fashion Tech Daily OneSpark

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Singapore’s second largest telecommunications company StarHub has announced Crowdtivate, which it calls the world’s first telco-backed crowdfunding platform.

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Decoded Fashion Fashion Tech Daily Crowdtivate