How CrowdFunding has changed the fashion industry

Image: Courtesy of

Image: Courtesy of

CrowdFundBeat – Nicole Chow – Staff Writer – The fashion industry is very competitive and challenging for aspiring designers who want to break into this field. This particular industry is so vicious that it is almost impossible for startups to get financial aid. This is where crowdfunding comes in. Various crowdfunding platforms have given fashion designers the ability to get their works notice and receive funding. This article is going to discuss the ways crowdfunding platforms has changed the fashion industry:-

Promoting newer and creative designs

The traditional or mainstream individuals in the fashion world usually tend to focus on promoting high-end fashion designs. Crowdfunding has created a platform for designers to come up with newer and creative styles such as eco-friendly pieces. A few designers who have gained momentum using this method are The Versalette and {R}evolution Apparel.

Creating platforms for freelance designers 

Picture Courtesy of Zazzle

Picture Courtesy of Zazzle

The Web is a powerful tool and with a click, any designer can spread the word and promote their pieces. Crowdfunding platforms enable freelance designers to gain a huge customer base even if they do not have any connections in the industry. This has vastly impacted the creation of various t-shirt designs. Some successful examples are Beast Clothing and Cameesa, a Zazzle affiliate.

Buyers are the decision makers

Crowdfunding has also given more flexibility in the fashion industry whereby the power shifts to the buyers and no longer solely rest on the designers. A number of designs will be submitted onto crowdfunding websites such as IAmLaMode and interested investors can back the project. If the funding goal is reached, these backers will receive the desired pieces plus, a few perks from the designers. Therefore, potential buyers have the freedom to choose what they want instead of going to a shop and pick up a generic piece.

Ability for companies to cut cost

Picture Courtesy of Getacoder

Picture Courtesy of Getacoder

Crowdfunding has revolutionized the fashion industry in a number of significant ways. Besides funding and building a platform for a plethora of emerging as well as independent designers, crowdfunding platforms offer established companies the opportunity to gather feedbacks from consumers through a voting or liking system. Based on the results, companies can choose to only produce designs that are in demand. Getting rid of unpredictability in sourcing materials enables companies to cut their losses. Vivien Westwood, are you paying attention?

Although crowdfunding is beginning to change the face of the fashion industry, unfortunately, a recent survey shows the fashion category still gross the lowest success rate on multiple crowdfunding platforms such as Kickstarter. Perhaps, it’s time for fashion designers to move with the flow. Come on, people. Chop! Chop!

Source: Nicole Chow – CFB Staff Writer – CrowdFundBeat

Tags: , , , , , , , , ,


How Crowdfunding Has Changed the Startup GameSingularity HubCrowdfunding has become a multi-billion-dollar industry, funneling millions of dollars into thousands of projects. Technology in particular is one of the leading categories on popular fundraising platforms like Kickstarter an [...]

The GuardianCrowdfunding: the new buzzword for academics needing research moneyThe GuardianArchaeologist Dr David Petts, from Durham University, has also used crowdfunding, raising almost £25,000 to fund a project on Lindisfarne, off the Northumberland coast. The dig, in June, led to [...]

Airbitz, BitPay, and Wefunder leverage bitcoin and new US ...Brave New CoinEquity crowdfunding platform, Wefunder, recently started accepting bitcoin. On the same day, popular bitcoin mobile wallet provider Airbitz announced the ...Wefunder Launches 10 New Regulation Crowdfunding Offe [...]

CNNMoneyDorothy's fading red slippers saved by $300000 in crowdfundingCNNMoneyThe ruby red slippers worn by Judy Garland in the beloved 1939 film "The Wizard of Oz" are set to undergo a major conservation effort following a successful crowdfunding campaign. The Smithson [...]

Raise Money for Personal Bills on Crowdfunding SitesKiplinger Personal FinanceWhile crowdfunding is often associated with business start-ups, many people are finding it a fruitful way to raise money for personal needs. Sites such as YouCaring, GoGetFunding, GoFundMe and GiveForward ha [...]

Crowdfund InsiderReport: Title II Crowdfunding Data on Three Year Anniversary Tops $1.47 BillionCrowdfund InsiderFifty Dollars Money Grant Crowdnetic has published its annual Crowdwatch report on Title II investment crowdfunding as enacted under the JOBS Act of 2012. Title II, or Reg [...]

How The Fix Crowdfunding Act Continues To Help Improve The Success Rates Of Small BusinessesCBS LocalIn July of this year, Republican Patrick McHenry from North Carolina spearheaded two important bills. Both passed through the House in a landslide vote as part of The Fix Crowdfunding [...]

BloombergCouples Desperate For Children Turn to Crowdfunding FertilityBloombergCrowdfunding has become a popular mechanism for many couples who can't afford the high costs of IVF, or adoption and surrogacy. “It's not an easy thing to share publicly,” says Crystal Barrett, 33 [...]

City turns to crowd funding to help replace boardwalk over Flint RiverMLive.comFLUSHING, MI -- The city of Flushing has opened a crowdfunding campaign to replace a wooden boardwalk over the Flint River. The goal is to raise $50,000 in 60 days on Patronicity, a crowdfunding website, to [...]

AZCentral.comTiny companies lure investors under Arizona crowdfunding lawAZCentral.comInvestors who make bets under the state's one-year-old crowdfunding law certainly have the potential to get in on the ground floor, but they must be patient and might not receive any returns. Th [...]

CFB Finance

Press Release

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |