A Startup Store

And the featured Startup is _______

Tue, 06 Mar 2012 10:29:31 -0500

…COUTURE RANI! We are thrilled to include this interesting new business in the debut of Elevator Pitch, a collaboration with The Business of Fashion.

We leave the writing to our friend, partner in crime, and the gifted journalist Imran Amed and have included the announcement below! It was fun and throught provoking to read through all the submissions. A very special thanks to our expert panel: Ben Lerer, Steve Schlafman, Kirsten Green and Sonali De Rycke.

Thanks to those who took the time to share your vision with us; and for those who didn’t, submit away -we are reviewing for round two! For detailed instructions on how to submit your pitch, click here.

3/6/12 post from The Business of Fashion:

Couture Rani screenshot | Source: www.couturerani.com

LONDON, United Kingdom – Earlier this year, BoF announced the launch of Elevator Pitch, a recurring feature that will showcase one exceptional fashion-technology start-up per month and provide valuable feedback from a panel of fashion, technology and investment experts, as well as the BoF community. Today, we are pleased to present our first Elevator Pitch from Gina Mathew, founder of Couture Rani.

THE PITCH

What is your business idea and what problem is it solving?

Couture Rani is an online boutique selling made-to-order luxury bridal and evening wear from India’s top fashion designers. Every year, South Asian women from around the world travel to India and spend thousands of dollars shopping for wedding apparel and jewelry. Despite the barriers of time, convenience and knowledge of where to go and what to buy, they spend in excess of $1,800 to travel to the fashion centers of Mumbai and New Delhi. Shopping in India is not the preferred choice but the only choice because a better alternative does not currently exist. The process is laborious, time consuming and inefficient. Couture Rani provides a solution to this market need by allowing shoppers to order a custom made, individually tailored piece they truly love. The bespoke approach is the standard in Indian fashion retailing. Since most have to travel to India to take advantage of this service, Couture Rani would provide customers this convenience in the privacy of their own homes. While the core business will remain custom made apparel, Couture Rani will add contemporary ready-to-wear apparel to help expand Couture Rani’s customer base from an exclusively South Asian clientele to a more global audience.

What market does it address and how big is this market?

Bridal apparel is the most lucrative segment of the Indian designer wear market, making up 50-70 percent of a designer’s revenue. The Indian wedding industry is a $20 billion a year market, growing at 25 percent annually. Non-resident Indians contribute approximately 40 percent of a designer’s annual turnover. Additionally the rapid growth of the ready-to-wear Indian designer market provides Couture Rani with the opportunity to create a centralised global platform for Indian fashion online through our established relationships and partnerships with designers.

Who is your competition and how are you different/better?

While there are numerous sites that sell Indian apparel online, e-commerce site Exclusively.in would be most comparable to Couture Rani. The site sells fashion, jewelry, and home decor from India at a discount of 70 percent. While Exclusivley.in has positioned itself as a ‘discount site’ with a multitude of offerings, Couture Rani will focus specifically on luxury designer apparel and accessories and aims to become the global online retailer for Indian designer wear. We have spent the past two years building relationships with the best designers in India and want to open the doors to their studios and ateliers and showcase those special, unique pieces to which customers would otherwise never have access.

What is the revenue model?

Couture Rani’s unique business model allows the business to generate cash flow during the production phase for both custom-made and pre-order garments. Customers pay for bespoke orders in full at the time of purchase, while ready-to-wear items require a 50 percent deposit at order placement and 50 percent when the item is shipped. Couture Rani and the designers split the profits 20-80 for bespoke orders and 40-60 for ready-to-wear.

Who are the team that will make your idea a reality?

Although Couture Rani was launched as a solo venture, the business was incubated by the Strategic Technology and Design Management class at the Pratt Institute in New York and was advised by Monte Gibbs, a digital media strategist and web technologist who heads the program. Individuals whose backgrounds include work on fashion startups like ShopFlick, Refinery29, J.Hilburn and Trunk Club, to name a few, have also provided guidance and advice. Consultants were also hired to work on various aspects of the business and I will be actively identifying the core team soon.

How much funding are you seeking and why?

Capital investment needed to scale the business and move it to the next stage is $500,000 for the following: accelerate development of website and features; development of interactive technology; building the core team; key hires in technology, digital media strategy and sales.

THE PANEL

Sonali De Rycker, Partner, Accel Partners, London

“I like that the company is addressing a white space and a hyper-targeted market that lends itself to higher than average spend. Customer acquisition should be fairly frictionless and word-of-mouth will probably work. My biggest concern is that this category may just not be ready for e-commerce yet. Couture Rani will need great customer service and branding, and perhaps devise an online/offline model to overcome this issue, including charging for leads and value-added services instead.”

Kirsten Green, Founder, Forerunner Ventures, New York

“Gina, this is a well-thought-out business idea. You have identified a shopping challenge that stands to be addressed by your vision and an attractive business model: pre-order fashion. Compelling factors support the idea: large target market, proprietary product and sourcing relationships, and a clear value proposition (access, convenience). I see a lot of potential to build a rich brand by showcasing the artisans that produce these products and sharing stories about their history and craftsmanship. With a large, but niche offering, to a geographically diverse audience, I imagine you may incur relatively higher customer acquisition costs. Further, admittedly my knowledge of the specific target customer segment is limited, but I do wonder if customers at scale will be willing to pay 50 percent upfront and wait for ready-to-wear items, similar to the premise for couture orders.”

Ben Lerer, Founder, Thrillist and Steve Schlafman, Principal, Lerer Ventures, New York

“Gina, it shows that you’ve spent a considerable amount of time thinking about the market, the customer and the solution. I’ll be the first to admit that I don’t know the Indian luxury market, but the success of companies like Exclusively.in show there’s an appetite for Indian fashion. You’ve done a nice job designing the brand. More specifically, the website is clean and clearly articulates the value of your product and service. Given that you’re going after the high end of the market, I’d like to know how many people seek out high end Indian fashion each year. From reading your Elevator Pitch, I wasn’t entirely convinced this is a huge market and a significant pain point. I’d also like to know more about your target customer and how you plan to reach them. Specifically, where do they live, how do they behave, how old are they, where do they hang out online? Finally, I’m impressed with what you’ve built, but I would have liked to get to know Gina Mathew better. While it’s great that experts have helped you along the way, I was hoping to get a better sense of your experience prior to starting Couture Rani. Why are you the right entrepreneur to back in this market?”

Rachel Shechtman, Founder, Cube Ventures, New York

“While I really like the idea of this business, I must confess I am unfamiliar with this particular market. However, your value proposition combined with a well-designed, clean user experience is a great start! I wonder if adding luxury accessories would add both incremental sales revenue and an opportunity for repeat purchases beyond couture and ready-to-wear for special occasions. The long delivery timeline and 50 percent deposit concern me. Additionally, asking couture customers to gather and submit their own measurements does not feel like a particularly couture-level experience. I wonder if there are high-touch user experience elements you could introduce to facilitate this process – either digitally or perhaps via small offline showrooms.”

Imran Amed, Founder and Editor, The Business of Fashion, London

“I like the aesthetic and approach that you are using to address what is a clear opportunity in the Indian bridal market, which is valued in the billions of dollars. However, these trips to India are not just about the transactional purchasing of bridal clothes, they are also part of the ritual and tradition around the preparation for the wedding. I wonder how many mothers and daughters would forgo the bonding experience of wedding shopping for a more transactional process on a website. I wonder what other experiential elements — online and off — you can create to make the Couture Rani experience more rich with emotion, advice and tradition. Perhaps, Couture Rani might complement, and not compete, with the traditional wedding trip by integrating your service with physical trips to add efficiency, but not detract from the experience.”

WHAT DO YOU THINK?

Now, it’s time for the BoF community to offer their thoughts on Couture Rani. What do you think about the business and its potential? And what advice would you give its founder, Gina Mathew?

If you have a promising business idea in the fashion-technology space or are already working on a start-up and looking to raise your profile or attract funding, send us your Elevator Pitch. We are accepting Elevator Pitches on an on-going basis, by email only, and will review the first 500 words you submit. For detailed instructions on how to submit your pitch, click here.

Elevator Pitch is a recurring feature on BoF, co-curated and developed with Rachel Shechtman of Cube Ventures.

Our Name is....

Thu, 02 Feb 2012 16:24:00 -0500

It’s official. We are out of beta and have launched our permanent store name: STORY. Last night we unveiled the amazing brand identity created by Stefan Sagmeiste r and our first story, LOVE. Every four to six weeks, STORY will change out all its merchandise, design, fixtures and reinvent the store around a different story-based theme. And we haven’t left the virtual world behind; we are excited that NERVE is our LOVE partner IRL, bringing alive their smart and dynamic content and offering opportunities to explore their newly re-launched dating service. Our website, thisisstory.com will be coming soon, and stay tuned as we will slowly migrating our twitter as well to @thisisstory

ELEVATOR PITCH: CALLING FASHION STARTUPS!

Mon, 30 Jan 2012 09:30:00 -0500

We are very excited and proud to announce a great new platform to showcase exciting new fashion Startups with The Business of Fashion. Conceived by Imran Amed, Founder and Editor-in-Chief of The Business of Fashion and A Startup Store founder Rachel Shechtman, ELEVATOR PITCH will showcase one exceptional fashion-technology start-up per month and provide valuable feedback from a panel of fashion, technology and investment experts, as well as the BoF community.

[BoF 1.20.12]

LONDON, United Kingdom – Ever since the early days of BoF, we have taken a keen interest in the exciting emerging activity at the intersection of fashion, technology and entrepreneurship. From the first article we published about Gilt Groupe back in November 2007, when the company had only 5 employees, to our four-part series on FashionStake, which last week announced its acquisition by Fab.com, to our early features on platforms like Pinterest and Tumblr, which have gone on to attract tremendous attention from the fashion community, BoF has a track record for being the first to spot and support the most innovative start-ups making a mark in the fashion space.

As we have examined over the last few days here on BoF, we are currently witnessing a veritable surge of innovation and venture capital interest in the fashion-technology space. Amongst e-commerce start-ups alone, we have seen the emergence of new business models like curation, subscription retail, social merchandising, mass customisation, retail gaming and collaborative consumption.

What business models will be next to emerge? Who will be the next Net-a-Porter, Gilt Groupe or Pinterest? If you have a promising business idea in the fashion-technology space or are already working on a start-up and looking to raise your profile or attract funding, we are putting out a call for your Elevator Pitch: concise pitches that you might give to a potential investor, partner or key hire if you bumped into them in an elevator.

For entrepreneurs wishing to participate, please respond to the questions below for the opportunity to have your pitch featured here on BoF and receive valuable feedback from a panel of fashion, technology and investment experts.

THE QUESTIONS (maximum 500 words):

1. What is your business idea and what problem is it solving?
2. What market does it address and how big is this market?
3. Who is your competition and how are you different/better?
4. What is the revenue model?
5. Who are the team that will make your idea a reality?
6. How much funding are you seeking and why?

HOW IT WORKS:

1. We are accepting Elevator Pitches by email only and review the first 500 words you submit. Please send your submissions to elevatorpitch@businessoffashion.com. We cannot respond to every email and will only contact those pitches selected to be published.

2. Each month, the selected Elevator Pitch will be presented to members of our Expert Panel, who will provide their feedback on the business idea and its potential.

3. We will publish one Elevator Pitch per month, along with feedback from our Expert Panel, and invite the BoF community to join the discussion.

THE EXPERT PANEL:

Sonali De Rycker, Partner, Accel Partners, London
Sonali has been active in the European venture business for 12 years focusing on investments in the consumer internet and digital media sectors. Sonali is responsible for investments in KupiVIP, Lyst, StylistPick, Spotify, and Top10.

Kirsten Green, Founder, Forerunner Ventures, New York
Kirsten has been in the investment business since 1996, investing in both public and private companies and building a focus on the consumer sector. Representative investments include: Birchbox, Bonobos, Chloe & Isabel, Cleanwell, Serena & Lily, Skullcandy, StyleOwner, Warby Parker.

Ben Lerer, Founder, Thrillist, New York
Ben Lerer is a Manager of Lerer Ventures and the Co-Founder and CEO of Thrillist.com, a leading men’s multi-platform lifestyle publication with over 3 million daily subscriptions in 19 localized markets in the U.S. and the U.K.

Rachel Shechtman, Founder, Cube Ventures, New York
Rachel has been a marketing and merchandising consultant since 2003 working with clients including Gilt Groupe, TOMS, and the CFDA; and advising others such as Birchbox and Quirky. Recently she launched a new retail venture in Manhattan called STORY.

Imran Amed, Founder and Editor, The Business of Fashion, London
Imran is a fashion business advisor, writer, and digital entrepreneur, and is Founder and Editor-in-Chief of The Business of Fashion

LAST CALL: Today, from 11am-6pm (and we suggest you get here...

Sun, 22 Jan 2012 09:14:27 -0500

LAST CALL: Today, from 11am-6pm (and we suggest you get here early)

We are sad that there are only seven hours left before we say goodbye to the amazing smell and taste of coffee, the wonderful new people we have gotten to know well over the past week and the in depth teachings & tastings provided by Coffee Common we have gotten accustomed to. We are grateful for the wonderful response of existing and new customers, neighbors, and our partners: Google+ and Breville. And, an extra special thanks to those who patiently waited in the cold.

At noon today, join a Google+ Hangout with Mike White, esteemed...

Sat, 21 Jan 2012 11:32:00 -0500

At noon today, join a Google+ Hangout with Mike White, esteemed New York barista, on what to look for when buying quality coffee. Add Coffee Common to your circle on Google+ and leave a comment that you would like to join the hangout. Show up at noon and join (or watch) the fun. See you then!

Our Last Event in beta: Learn How to Make Espresso w/ COFFEE COMMON X Breville

Fri, 20 Jan 2012 16:08:00 -0500

Please join us for our last event in A Startup Store beta before the debut of our first theme LOVE and the announcement of our permanent store name on Feb 1.

We have worked with our friends at Skillshare x Breville to offer this amazing opportunity - how to make Espresso! And, this is the only Espresso class offered during our COFFEE COMMON NY experience.

Espresso is perhaps the most difficult way of brewing coffee, but for 90 minutes, professional baristas from around the country will be showing attendees the fundamentals of espresso brewing. Breville is kindly providing a selection of their brand new Dual Boiler espresso machines, the first machine to offer commercial grade equipment for the home at an affordable price. Coffee Common will have multiple stations set up, each with its own barista, to make sure attendees get access.

ROASTERS INCLUDE:

Gimme Coffee from NYC
Intelligentsia Coffee from Chicago
Ritual Coffee from San Francisco
Heart Coffee Roasters from Portland
Counter Culture Coffee from North Carolina

BARISTAS INCLUDE:

2011 US Cup Tasters Champion: Ben Kaminsky
2008 US Barista Champion: Kyle Glanville
2008 World Barista Champion: Stephen Morrissey
Joe Coffee, NYC: Amanda Byron
RBY, NYC: Cora Lambert

coffeecommon: Great turnout this afternoon!

Fri, 20 Jan 2012 15:32:06 -0500

coffeecommon: Great turnout this afternoon!

TODAY: Live G+ Hang out at 10am est featuring COFFEE COMMON x CHEMEX

Fri, 20 Jan 2012 01:52:00 -0500

Google+, one of our key partners, has enabled us to bring the COFFEE COMMON NY experience outside of the walls of A STARTUP STORE and onto the computer screens of coffee enthusiasts worldwide! Hang out today live at 10am EST on G+ with COFFEE COMMON featuring a tutorial by 2008 US Barista Champion, Kyle Glanville on how-to use a Chemex and join for Q&A!

NOW SERVING...

Thu, 19 Jan 2012 16:09:34 -0500

COFFEE COMMON X A STARTUP STORE

DAY 1

COFFEE COMMON COMING! Thurs Jan 19 - Sun Jan 22

Sun, 15 Jan 2012 13:04:00 -0500

Taste incredible coffees and learn how to make them at home with Coffee Common. These four days, you will be given access to the first ever Coffee Common event in NYC. Expert baristas from around the country will guide guests through the fundamentals of brewing coffee at home, giving sense to the array of new tools and techniques popular today. Additionally, Coffee Common has curated a menu of some of the most exciting coffees currently available by leading US coffee roasters, and will be brewing up samples for everyone to try.

Tickets are $5 per a visit and we encourage you to buy tickets HERE in advance.

Thursday, Jan 19th 11 - 6pm
Friday, Jan 20th 11 – 7pm
Saturday, Jan 21st 11 – 6pm
Sunday, Jan 22nd 11 – 6pm

Dear readers, friends, customers and neighbors, THANK YOU for your support and warm welcome during...

Fri, 13 Jan 2012 19:44:00 -0500

Dear readers, friends, customers and neighbors,

THANK YOU for your support and warm welcome during these past six weeks; we appreciate your business during our soft launch: A STARTUP STORE beta exhibition. And, to the press and those who posted and shared with friends through social media, thanks for all the buzz and excitement around this new retail model we are cooking up!

But hold the tears, because we have lot’s up our sleeves. On Thursday January 19th we will reopen the doors for the last time as A STARTUP STORE beta to host COFFEE COMMON for four days, and serve the best coffee you have ever tasted. And the best part - there will be champion barista’s here all day long so you can learn how to make cafe quality coffee at home! You can get tickets here.

And on February 2nd, our doors will reopen and we will emerge from beta, annoucing our permanent store name (thank you trademark office for finally getting back to us) and greet you all again with our exhibition theme called LOVE.

Until then, have fun and hope all is well!

MIXED FEELINGS

Thu, 12 Jan 2012 00:32:00 -0500

I (Rachel) am experiencing mixed feelings on the eve of the last night of A STARTUP STORE. As I realize we only have 8 hrs left of this wonderful store theme, I feel like we have spent six weeks getting to know new friends at Summer Camp and now have to say goodbye to our startup brand partners and hope we remain pen pals. Like camp, there are memories and lessons, hysterical moments and some tough ones.

Everyone has said, “you must be happy, you must be excited,” but really what I feel most is grateful! Grateful for the unexpected and amazing press, the wonderful staff who continues to trust this new model and vision, the new customers and neighbors that walk through the store daily, the most outstanding family and friends in the world but with A STARTUP STORE beta, none of it could have been possible without the support of the company’s we have featured and have come to know quite well in just six weeks: Birchbox, BaubleBar, Of A Kind, Quirky, Joor and ArtSpace…and with that, I am most grateful!

While I am sitting here thinking of all the friends who I forgot to email to come see A STARTUP STORE beta, I find myself both excited and anxious, with the announcement of our permanent store name, debut of our logo and opening of our LOVE theme all on February 1st. As I sign off I feel myself in the back seat of the car on my back back to summer camp, filled with jitters, joy and all, and look forward to seeing everyone there again soon!

Only 4 more days left… Swing by to get your fill...

Mon, 09 Jan 2012 15:45:00 -0500

Only 4 more days left…

Swing by to get your fill of Birchbox, Baublebar, Of A Kind, JoorAccess, Quirky, and Artspace at A Startup Store before it’s too late!

IT’S OFFICIAL: Coffee Common’s First Public Event in North...

Fri, 06 Jan 2012 14:43:00 -0500

IT’S OFFICIAL: Coffee Common’s First Public Event in North America to be at A Startup Store in Chelsea Thursday January 19th – Sunday January 22
—-
From January 19th through 22nd, a selection of the world’s best baristas will gather in Chelsea to make delicious coffee and help people understand how they can, too. Demand for quality coffee is on the rise, but a market filled with strange devices and alien vernacular can sometimes be intimidating. Luckily it’s easier than ever to find great coffees and to help you navigate all of this. Coffee Common has assembled crew of local and international baristas seeking to distill it all down so each attendee walks away equipped with the fundamentals of delicious coffee. In addition to engaging demo stations, baristas will be on hand to answer any questions, whilst serving some of the best coffees currently available from around the country. The entrance fee is $5 per a person, per a visit, to experience, learn, taste and sip some of the most amazing coffees! Starting Tuesday January 10th, tickets will be available online at astartupstore.com/events or available on site.

Coffee Common’s NYC event will be located at A Startup Store - a new story-based retail concept located in Chelsea at 144 Tenth Avenue at 19th street. Developed by Rachel Shechtman, this new venture opened weeks ago with rave reviews. Shechtman’s vision and concept is a retail environment that has the point of view of a magazine, changes like gallery, and sells things like a store. The store will reinvent itself every 4-6 weeks, changing all merchandise, décor and event programming. The store is currently in beta, and will launch officially on February 1st announcing its permanent store name and debuting a shopping exhibition called LOVE.

Coffee Common’s NYC event is unique to its Manhattan location, creating new opportunities for an evolving group of roasters and baristas to take part and engage with diverse segments of the public. In addition, a myriad of local and international brands have partnered to amplify and augment this experience. A Startup Store will be broadcasting Coffee Common in Google+ hangouts throughout the duration of the exhibition; Breville will be giving away some of its latest home brewing equipment. In addition, partners such as GiltCity and Skillshare will be offering special Coffee Common events on their sites.

Creative Chelsea store is the spot to watch in 2012 by...

Thu, 05 Jan 2012 23:09:00 -0500

Creative Chelsea store is the spot to watch in 2012

by Colleen Hagerty, Examiner.com

HAPPY NEW YEAR! Just because the holidays are over...

Tue, 03 Jan 2012 10:59:25 -0500

HAPPY NEW YEAR! Just because the holidays are over doesn’t mean the fun has to stop. Birchbox and Jouer invite you for an afternoon of indulgence, featuring:

-Touch-ups by Jouer

-Bubbly and treats

-Special gift with purchase

GRATITUDE Less than 3 months ago these amazing individuals,...

Sat, 31 Dec 2011 20:55:00 -0500

GRATITUDE

Less than 3 months ago these amazing individuals, Morgan, Kevin and Jill, didn’t know each other or the fact that they would be working together at A Startup Store. I (Rachel) am beyond grateful to have met such dedicated, kind and wonderful individuals and proud that are our amazing sales team! And with that – the store will be closed New Year’s Day for a much deserved and needed day off! See you January 2, 2012 HAPPY NEW YEAR!

BACON + VITAMINS… You may not think there is any relation but we...

Thu, 22 Dec 2011 00:00:00 -0500

b.cuz you work indoors

vermont smoke and cure bacon

BACON + VITAMINS…

You may not think there is any relation but we beg to differ…. We had two wonderful new customers come in the store this week and we learned of their businesses: b.cuz Vitamins and Vermont Smoke and Cure. All of us at the store get excited when we hear new stories and see new products, so our enthusiasm wasn’t lost on these two companies. Today, Rachel came back from dinner to grab her laptop and was pleased to find: a case of b.cuz you work indoors and a slab of bacon (the founders of each company had stopped back in to drop them off). What could be a better way to kick off Christmas?!

Can A Startup Store Change The Retail Business? BY David D....

Wed, 21 Dec 2011 16:19:00 -0500

Can A Startup Store Change The Retail Business?

BY David D. BursteinToday in Fast Company

And a very special thanks to Mike Rossi for the time lapse!!!

of a / KIND joins A Startup Store with three amazing...

Tue, 20 Dec 2011 02:15:00 -0500

of a / KIND joins A Startup Store with three amazing editions… What are they? Come to the store to find out. And if it is too cold out, click here and check out their amazing selection of unique gifts!