I have been waiting with baited breath for FashionStake.com to launch for the past 6 months!!
Why…what is this website? you may ask. For one thing, FashionStake offers limited-time flash sales from independent designers.
Another flash sale site?? Why do we need one when we already have Gilt, RueLala, Ideeli, HauteLook, Beyond the Rack…et al??
THIS IS WHY:
FashionStake sells next season’s merchandise, not current or last-season items. Sales are in the form of pre-orders, so the merchandise is already paid for before it is produced.
So why is this an important innovation for struggling designers?
I personally have had my eye on this company for awhile, ever since it was featured in NY Mag’s The Cut back in April of this year. I’ve been thinking about re-launching my clothing line for some time, but the main obstacle is the high cost of manufacturing – and the fact that you won’t break even on the costs of the sampling, materials, and patternmaking until you’ve produced and sold at least 6-12 pieces. (Of course this number differs due to differing production costs and differing retail price points…but basically we’re all familiar with the concept that very little money comes back to the designer/creator after all that work has been done, and that a profit isn’t truly made until you’re making multiple, multiple pieces.) So the eternal question is:
How do you get concrete orders for your line BEFORE committing all that money to manufacturing?
In other words, how do you meet your order minimum to break even (at the very least) before you contract with a manufacturer to produce something like 25-50 garments?
It’s a question of creating demand before creating the product: “pull manufacturing.” After I created my line back in ’07, there wasn’t enough demand for it where I was…and I had to try and sell what I had on hand, which is infinitely more difficult. I had lots of money put into actual physical clothing…that didn’t sell. I still have something like $400 worth of work hanging in a closet right now.
Founder Vivian Weng saw the contradiction inherent to the fashion industry, and the difficulties many designers faced with funding their lines and finding their audience. Plus by waiting for pieces to hit the retail shelves, as a consumer she saw the “sky-high prices” and felt something amiss. While at Harvard Business School she teamed up with classmate Daniel Gulati to form FashionStake, a venture they hope will usher in a new era of designer direct fashion. The website launched in September 2010.
FashionStake aims to “democratize fashion” by holding online “trunk shows” (similar to what Gilt or Ruelala do), with timed flash sales. BUT….the items for sale are all from emerging designers, and are in the form of pre-orders…so the item is only produced if they’ve met their minimum costs. So much less risky for the designers.
But how is this helpful for the consumers?
Well, for one, the clothing and jewelry is not marked up for retail – it’s close to wholesale prices (about 40-70% off of what it would fetch at retail). Plus, it’s next season’s merchandise! (All the other flash sale sites, including Gilt and Ideeli – are selling last season or current-season merchandise – rarely next season – and it’s most usually at the retail price when they do.) By buying through FashionStake you’re getting in before the crowds, before it even hits the retail stores, before the season has even begun, and placing an order just as the designer is sending their order to the manufacturer. (Since it’s a pre-order, delivery of the item varies per brand; for some, it can be 2 weeks; for a few, up to 8 weeks.)
But you’re also helping a designer who didn’t have enough money upfront to produce their line – ensuring that everyone along the chain of supply will get paid (rather than having the designer supply the retail stores with stock, only to have it get returned to them if it doesn’t sell – or have to take out a loan to pay for the manufacturing since the factories require payment upfront). Each item sold on the site has an undisclosed minimum – the minimum orders the factory needs before they will go into production – so if there aren’t enough orders, the item isn’t produced. Which means a lot less fashion waste and no unsold items at the end of the season!!
So what brands are having trunk shows at FashionStake?
Tiny emerging brands whose product quality is still iffy, who may or may not actually make good on the orders they get? Nope. Nicholas K, for one, who’s has been showing at New York Fashion Week since 2003. JUMA, a mainstay in minimalist chic fashion that’s sold in Bendel’s, Harvey Nichols, and BuyDefinition. Lauren Merkin – I’m sure you’ve heard of her bags, coveted by celebrities and in-the-know women in the know the world over? Check out what’s coming up on FashionStake:
Nov 10: Raquelle (“Breezy Basics” silk tops)
Nov 12: Mociun (“Art Deco” fine gold jewelry)
Nov 15: JUMA
(“Easy Inspiration” jackets and dresses)
(the “3-in-1 Louise” clutch)
Nov 19: Bijules
– a favorite of Beyonce and Fergie (“Glacons” icicle-inspired jewelry)
Plus, it’s free to join, and by using my personal invite below, your account will automatically be credited $15!
And…use exclusive code CHICSTEALSNOV to receive Free Shipping on any order (shipped to a U.S. address) that you place during the month of November! (For my non-U.S. readers, use the code above and get $5 off shipping to any International address!) It’s a great way to get a jump on that holiday shopping!
~If you liked this post, please share it!~
As you’re all probably aware, there is currently a gigantic sale going on at Gilt.com on a staggering number of women’s clothing, jewelry, handbags, and shoe brands, from high-end designer to mass market. Even though the sale for clothing has already been going on since yesterday (I know, late to the game again:-(, there’s still a lot of pieces left, and many at fabulous prices. (Though some of the sizes and styles are limited…)
from top to bottom: ABS by Allen Schwartz, Bensoni, Charley 5.0, Cynthia Rowley, Daryl K, Design History, Diesel, Eryn Birnie, Free People, Geren Ford, James Perse, Lorick
And that’s just A through L!
Currently the sale for Jewelry, Shoes, Handbags, Sunglasses, and Accessories JUST STARTED – so head on over there and check it out ASAP!
If you’re not a member, feel free to use my invite below and check it out!
Massive tutorial coming up shortly – thanks for being so patient:-)
~If you liked this post, please share it!~
I happened upon an amazing deal a little while back on the HauteLook website. I’ve never actually purchased anything from them before. (What I can say is they ship a LOT faster than RueLala or Ideeli, considering purchases from them have taken 4-6 weeks to arrive.) Now there’s so many “members-only” sample sale sites that I’ve pretty much lost track, and a lot of the good stuff sometimes gets lost in the shuffle.
The week in question they were having a sale for Shoes: $100 and Under, which are pretty much magic words to my ears;-) Normally I would have trouble finding something in my fairly common 7.5 shoe size, but this time I happened upon the most gorgeous pair of Velvet Angels shoes – and just kept refreshing the screen repeatedly, muttering little prayers all the while.
And finally, 7.5 was in stock!
I snapped up these beautiful Optima Wedges, original retail price $295, for just over $60. Unbelievable!
And what was more unbelievable to me when they arrived was the quality. Beautiful crinkled leather, unique molded mirrored platform, footbed with velvet-covered metatarsal padding, and a sheer weight to them that “felt” like luxury (which I know is really just a concept, but bear me out). Plus they came in a lovely sliding box, just like a little drawer, ready to go in my closet.
I can’t wait to showcase these in an outfit! I’m thinking a little romper…and something handmade… we’ll just have to wait and see!
Of course, the Peanut Gallery just had to take them out for a spin before I could.;-)
I think maybe I should go a size down?
If you’d like to join HauteLook and snag a similar “Wheeeee!” -inducing find for yourself, feel free to use my invite below:
Upcoming sales for this week include (Tuesday 8/17) Kate Somerville, t-bags, Custo Barcelona; (Wednesday 8/18) Sue Wong, Christopher Kon; (Thursday 8/19) Splendid, sky, and Fall Trends from Lucky Magazine (which I’m just dying to peek at!!)
Hope everyone’s having a great start to their weeks!
Ideeli has a couple more one-question polls for ya if you enjoy taking these things.
Earlier this month, David Arquette started prepping for the final blowout sale at his pop up shop, Propr Clothing on Abbott Kinney Boulevard in Venice, CA. Propr is closing after being open for 3 months.
The idea of a pop up store at first glance is a genius idea for a brand or designer that wants to showcase a diffusion line, or who cannot fully commit to a long term lease. But now has the pop up charm worn off especially since so many ho-hum sample sale events are now trying to bill themselves as “pop ups”? Share your opinion with us. Take the poll below. Feel free to share the names of your favorite pop up shops in the comment box.
The new PETA ad featuring First Lady Michelle Obama, which the White House says is using Michelle Obama’s image without her permission, is popping up in Washington’s Metro stations, magazines, and PETA’s Web site. Michelle Obama, Oprah Winfrey, Carrie Underwood, and Tyra Banks all shun wearing fur. We want to know your thoughts on the fur debate. Take our poll below and remember, we love you either way!
And, if you’re not a member of Ideeli.com yet, click here to use my invite code and gain access to some of the best designer brands out there, on sale for up to 80% off!
(Plus they have fabulous giveaways from time to time…and right now there’s a giveaway going on for a $1000 shopping spree, 7 items from the ADAM collection, 2 round-trip tickets to NYC, a $500 gift certificate to Bliss Spa, and a 6-month membership to the House of Blues’ VIP room!) Join now for instant access!
-Carly J. Cais
Like taking polls? Click below to answer 3 single-question polls – where style and shopping converge, at Ideeli.com. Your opinion is in high demand!
What are your plans for 2010?
Style Maven Poll
Was 2009’s most stylish person Lady Gaga? Vectoria Beckham? Agyness Deyn? Blake Lively? Vote above – or write in your own if none appeal.2009 Fashion Recap
Ditch or keep some of the major trends of 2009? Sequins, biker black, high heels, the “Wilma” [one-shouldered] dress – should they stay or should they go now?
-Carly J. Cais