According to Forbes, Revolve reported $1 billion in sales, dressed 416 influencers and reportedly generated 4.4 billion social impressions last year alone. Los Angeles-based women’s e-commerce site Revolve relies heavily on influencers to market their music festival-focused garb. UK-based online retailer Boohoo bought the brand, that was once valued for over $200 million, for a mere $20 million. “Girl Boss” author Sophia Amoruso founded Nasty Gal in 2006 and raised multiple rounds of funding before ultimately filing for bankruptcy 10 years later. Over the past decade, consumers have been bombarded with digital and mobile-only retail brands that promise a lot but don’t always deliver. Swedish retailer H&M reported $4.3 billion of unsold clothing, shoes and accessories in its latest quarterly report. But, excess inventory is proving to be a serious drag on the industry. And a great experience for the customer who expects to see fresh styles every time she stops in to browse. The fast fashion landscapeįast fashion was supposed to be the beacon of hope in a dying brick and mortar retail industry. “With the founding team’s backgrounds in supply chain, machine learning and finance, combined with their appreciation for fashion and styling and a relentless devotion in brand creation, Choosy is poised to sit at the helm of the new generation of social commerce, where the shopping experience is a simple extension of consumers’ existing social media habits,” said Tony Florence, general partner and head of tech investing at New Enterprise Associates.
GET CHOOSY CLOTHING FULL
We have a vertically integrated team that creates the mold, design, fabric designing and is in charge of QA/QC (quality assurance and quality control),” said Zeng.Ĭhoosy is based in NYC with 15 employees, with another 15 working out of China, all of whom are considered full-time employees and get full benefits. Brands are able to streamline the entire manufacturing process so that there is no excess inventory. “China’s supply chain has been evolving within the past year or so. While she originally shuddered at the idea of going into the family business, she found herself drawn to the fashion industry - and she had a significant advantage because of her family’s existing network. Zeng’s family is deeply rooted in textile manufacturing, and she had tried to veer away from that path her entire childhood. She and her team noticed that a pair of ripped, pearl-studded jeans that Gigi Hadid had posted on Instagram was trending, with many followers commenting “where can I buy them?” Along with three other items, the Choosy team received 1,000 pre-orders over the course of four hours. Then she took three years off to return to China, working for the family business and dabbling in venture capital investing.
After getting a dual degree in urban planning and economics at MIT and Wellesley, Zeng pursued banking at Citi for two years.
Zeng grew up in China but came to the U.S. “We started Choosy as a way to deliver the latest clothing in this new era of commerce to the consumer who wants to shop as she sees trends in real time,” Zeng told Yahoo Finance. Forerunner Ventures, Innovation Global Factor and XFactor Ventures are among the other investors in this seed round.Ī former investment banker at Citigroup, Zeng recruited her former coworkers Sharon Qian and Mo Zhou to be Choosy’s chief technology officer and chief strategy officer, respectively, and help build the company. The site goes live on July 24.Ĭhoosy announced Tuesday morning a $5.4 million round of funding led by New Enterprise Associates (NEA). Most of the items are not unique in the marketplace, and they are not copying anything from smaller, independent designers. All items are priced under $100 (free shipping included) and available in sizes 0-20. Users then pre-order any of the items and Choosy will design and manufacture the items in-house within 48 hours, and get them delivered in as little as two weeks. Here’s how it works - each week, a team of “style scouts” will identify the top 10 fashion trends (with the help of social media). Think of it as ultra-fast fashion on-demand.
Jessie Zeng, 25, is hoping to make the latest female fashion trends accessible and affordable with her new startup Choosy.
0 kommentar(er)
