Archive for the ‘Clothing’ Category

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Making it Work: Internet Shopping Entrepreneurs Talk Shop

Monday, June 27th, 2011

Carla Holtze and Kimberly Skelton used business school as an excuse to do what they already wanted to do: create a social website that roughly imitates the experience of having your best friend give you the thumbs-up or thumbs-down in the dressing room. Thus was born WingTipIt.com.

But starting a company isn’t easy – especially when it involves learning new technology in a relatively new industry. Watch them talk about what’s worked and what hasn’t:

>> TILE brings you exclusive opinions, explanations, and interviews from experts in every industry. Have a burning question or an expert you’d like to see interviewed? Just Ask TILE!

The Way to an Investor’s Heart is Through His Wife’s Closet?

Wednesday, June 8th, 2011


(photo credit: fimoculous)

If you were a major luxury fashion house going public in an attempt to raise $3 billion from Asian investors, would you spend hours working on your investor PowerPoint presentation, or would you wrap a bunch of models in snakeskin and have them walk around at the Plaza Hotel?

Guess which way Prada went?

The Italian company is pursuing an IPO, which means it’s going to sell off pieces of itself to public investors, in Hong Kong this month. In order to woo potential investors, it held a relatively small fashion show for tycoons and their wives and daughters. Female tycoons either didn’t exist or were mysteriously lost in the editing of this WSJ piece about the event.

Prada is valued at $15.7 billion, so with this initial public offering, they’re giving up ownership of almost 20% of the company. But they’ve got to raise that cash somehow if their plans for world fashion domination are going to work out.

In other news, here’s a handy list of some of the biggest IPOs in U.S. history.

Hey, investor. Would YOU be wooed by a runway show?

Online Shopping Gets Smarter [Than You]

Wednesday, May 4th, 2011


(credit: Unhindered by Talent)

Guess what? Retailers are getting smarter and smarter when it comes to separating you and your cash (or credit card info, to be more precise).

First there was members-only designer discount site Gilt Groupe, with time limits for checking out with your items. Then we saw the daily deals companies like Groupon and LivingSocial. There’s Rent the Runway, where you can rent a hot little piece of couture for an event for under $200.

And now, for a mere $30 monthly subscription fee, online shops like JewelMint will get to know your tastes and offer up pieces it’s sure you’ll like. All based on an algorithm. This is in some ways even cooler than the computer from Star Trek: The Next Generation that made Captain Picard all those cups of tea with a simple voice command.

The online shopping world will surely continue to evolve, getting cooler, more convenient, and quite a bit more manipulative in the process. So don’t forget to bring your brain when you go on your next online shopping spree.

Think you’re a conscious consumer? Take our Where Does the Money Go? challenge!

Hard Work Pays Off (In Designer Suits and Local Luxury)

Tuesday, April 12th, 2011

Gilt City is one of Gilt Groupe’s overachieving children. But instead of offering its members haute couture at a discount, G.C. serves up local luxury experiences (a gourmet meal here, a spa there) at special prices.

Team TILE visited their New York office recently, and Gilt City president Nathan Richardson was kind enough to sit down and chat with us for a few minutes.

Nathan has had a wild career, and it seems like his only regret is not learning Mandarin in high school. Impressive. He has some advice for you, so check it out:

The Fashion Economy

Tuesday, March 29th, 2011

freddy-dico.png Freddy Dico is the co-founder of Sir New York, a modern menswear label that launched in Spring 2010. He’s from Macau, but grew up in San Francisco. And before getting into the world of design, he was actually a star student in the biochemistry program at U.C. Davis. Since switching gears and graduating from FIT in New York, Freddy has worked with companies like Polo Ralph Lauren, J. Crew, and Brooklyn Industries, and designed an entire line for mass-market men’s label Scappino in Mexico. You can check out his latest work here.


TILE: Being a designer involves much more than a creative vision and talent with scissors and thread. What are some of the costs of starting your own fashion label?
Freddy: Since we are a really small start-up with practically no capital, time is the #1 cost.

To start, you need a product, which means sourcing fabrics, making patterns, sewing/fitting, creating labels, etc. Once the product is perfected, you need to document and promote it through a website, lookbooks, business cards, fashion presentations, models, invites, etc.  The lists really goes on and on and on…  Luckily, I have a partner (Auston Bjorkman) who is equally well-rounded in many areas, so we try to personally execute most tasks to lower our costs.

Of course there are only 24 hours in a day, which means you can’t do it all. We’re fortunate enough to have many people who believe in us and who are willing to volunteer their time and effort.

Oh, and let’s not forget about getting a business license and all that legal stuff…

TILE: How does a piece get from the designer’s head to the runway?
Freddy: At the start of the season, Auston and I will brainstorm and finalize the themes/concepts we want to use. Then we create sketches, source fabrics, make patterns, and sew the samples. After that we set up a photoshoot, cast models, send invites, create a website, scout locations for the show, and stress ourselves out making sure the event goes off without a hitch.

TILE: And how does that piece get from the runway to the retail store?
Freddy: There’s a lot of following up on our part. Before your runway show, you need to figure out pricing and where will you produce the garments. Once you have all the business details – the linesheets – figured out, you’re ready to potentially attract buyers to place your product in their stores. Once orders are confirmed, you actually need to produce and ship the pieces to them.

TILE: How can you be a “smart shopper” when it comes to designer clothing?
Freddy: Well, the answer to that question depends on what kind of person I’m talking to. But in general, I always believe that the value of a garment is based on the number of times worn.  So make sure you love it!

TILE: What advice would you give to your teenage self?
Freddy: Enjoy the ride!

Gilt Free Luxury: Gilt Groupe’s Co-Founder Talks with TILE

Monday, March 7th, 2011

Alexandra Wilkis Wilson took her 5th Avenue fashion sense to the world wide web, and the result – members-only designer discount site Gilt Groupe – is changing the way luxury retail is done. She sat down with TILE to talk about the online sample sale phenomenon, and to share some advice about buying designer.

This Fall, Look Forward To High, High Prices!

Friday, February 18th, 2011


(photo credit: Thing Three)

“Most” consumer goods are about to get a lot pricier - food, clothing, appliances, you name it. Why? Commodities, demand, and labor! Here’s what that actually means for you…

  • The cost of raw materials, like cotton, wheat, and metal, has increased wildly in recent years. These raw materials are traded on exchanges kind of like stocks, but they’re called commodities. Just like stocks, the prices of commodities changes frequently.
  • When commodity prices shoot up, it’s more expensive for companies to make their products, and that cost gets passed on to you, the consumer.
  • Besides the price of materials, there’s the cost of people. Workers overseas now demand higher wages than they used to, and with more money to spend, there’s an increased demand for certain goods (like cars and meat). That all adds up to more expensive products.
  • Retailers have been holding off on raising prices to keep customers during the recession, but they say they can’t hold out anymore.
  • Will rising prices lead to inflation? Stay tuned.

Facts & Figures

  • Unemployment in the U.S. is still at 9%, and wages have risen less than 2% in the past year
  • Some brands planning to raise prices include: Nine West, Anne Klein, Victoria’s Secret, Polo Ralph Lauren, Whirlpool, Kraft, Starbucks, Sara Lee, Brooks Brothers, and Hanes
  • Inflation has been low – about 1.4%, but economists expect the rate to rise to 2.5% 2011

Best Quotes

“Consumers are not exactly in the frame of mind or economic circumstances to say ‘Oh, pay whatever they ask.’ There’s going to be pushback.” – Joshua Shapiro, Chief U.S. Economist at MFR Inc.

“These companies are constantly walking a tightrope on how far do I go. Do I offset with price or other cost cuts, or do I just take it and have it eat into my profit margins?” – Jack Russo, Consumer Goods Analyst at Edward Jones

What do you think?

Do you know what goes into the price of the products you buy? Did you ever imagine that the price of popcorn at the movie theater could be connected to weather in the Midwest and a commodites trading floor in Chicago?

Shopping The Runway

Thursday, February 17th, 2011

“Fashion weeks in New York, Paris and Milan generate a tremendous amount of press and buzz for some of the world’s most expensive clothes. But many of the runway styles are actually purchased by a small group of customers, not all of them from the isle of Manhattan. And unlike celebrities and socialites, who often get designer clothes at no charge in exchange for publicity, these customers pay full price.”

What do you think?

What do you pay full price for… and when do you wait for a sale?

Is Prada Stock Better Than A Prada Bag?

Monday, February 7th, 2011


credit: amandabhslater

After 10 years of talks, Prada is going boldly forward where no other Italian company has gone before: the Hong Kong stock exchange.

  • The company wants to expand its operations, and that means it needs cash. So it’s going after an initial public offering (IPO) in Hong Kong to raise money from investors.
  • The IPO is expected to do well because of a favorable economic climate and the designer’s excellent reputation.
  • If it follows through with the IPO, Prada will be the first European luxury brand listed on the Hong Kong stock exchange.

Facts & Figures

  • Prada was founded in 1913
  • Founder Mario Prada’s granddaughter currently owns 95% of the company

Best Quote

“Confident in the future development of the group, we can now face the coming challenges with serenity and seize the best opportunities offered by the international capital markets.” – Prada Chief Executive Patrizio Bertelli

What do you think?

What do you do when you need cash?

Grow your own shoe trees!

Monday, February 7th, 2011


(photo credit: Яick Harris)

No, not like that. Like this:

A Dutch company called OAT has invented shoes made of… oats.

Instead of living in a garbage dump (or the Great Pacific Garbage Patch) for the rest of eternity after you’ve worn them out, these kicks will break down like any other normal organic substance.

And then – here comes the good part – the seeds that have been hiding inside of the shoes all along will come to life and grow trees! Shoe trees.

Do you already do something clever with your old sneakers? Plant flowers in them? Use them to insulate your attic? Save them for special shoe-throwing occasions?

Thanks for the tip, GOOD.

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