How CrowdFunding has changed the fashion industry

Image: Courtesy of www.hji.co.uk

Image: Courtesy of www.hji.co.uk

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.

http://www.youtube.com/watch?v=9OXrJoE-YfI

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: , , , , , , , , ,

HEADLINE NEWS

ForbesThe Ultimate Pre-Launch Crowdfunding ChecklistForbesCrowdfunding is not limited to the platform where you launch your campaign. Instead, it has become a valuable way to transform your idea into a mainstream business. In order to head in that direction, you must execute a number [...]

The AustralianIgniteme heats up crowdfundingThe Australian“The only other comparable film that raised money through crowdfunding would be Crocodile Dundee, but not all funding came from the crowd.” Mr Morello said the idea behind the platform was relatively simple — giving new and bud [...]

DVS Gaming (registration) (blog)Crowdfunding: How Does it Help Indie Developers?DVS Gaming (registration) (blog)2012 is when crowdfunding really blew up, prior to 2012 the average amount of money devs would receive could range from 10k-100k. By today's standards, that's stil [...]

The MemoCrowdfunding has become a 'monster' argues its greatest criticThe MemoBrown has become a thorn in the side of this blossoming industry, even more so as it's clear his blog is now even read by regulators at the Financial Conduct Authority. The Memo sat down with [...]

U.S. News & World ReportNo Cash for Hate, Say Mainstream Crowdfunding FirmsU.S. News & World ReportThe block on mainstream crowdfunding is just the latest blow to far-right activists operating online. In the last 24 hours, neo-Nazi website the Daily Stormer had its domain regi [...]

LivemintFinding the right balance on crowdfundingLivemintSecurities market regulator Sebi (Securities and Exchange Board of India) has been trying to get a handle on digital platform-based crowdfunding since at least 2014, when it issued a cautiously positive consultation paper. It fl [...]

Crain's Cleveland Business'Smaller' gifts can go long way for Clinic's crowdfunding platformCrain's Cleveland BusinessFor an institution accustomed to securing multimillion-dollar donations, Cleveland Clinic's latest fundraising effort has some relatively [...]

Australian Brews NewsBrewery crowdfunding effective overall: PozibleAustralian Brews NewsEquity crowdfunding by breweries overseas has been effective overall, despite some high profile failures, according to Pozible. The largest reward-based crowdfunding platform in the Asia Pacific, [...]

FortuneUncensored Social Network Gab Raises $1 Million in Crowdfunding CampaignFortuneA crowdfunding campaign for Gab, a Twitter-like social network that touts its commitment to freedom of speech, surpassed $1 million yesterday. The company claims it is politically neutral and committ [...]

Crowdfund InsiderIsraeli Crowdfunding Platform ExitValley Self Crowdfunds, Plans UK ExpansionCrowdfund InsiderThe digital platform to book parking anywhere raised $2 million – a portion of that, $270,000, reportedly came from ExitValley. To date the self-crowdfunding offer has raised [...]

CFB Finance

Marketwired

  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

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 |