Web Trends : More Social Crowd Funding …This Time It’s Fashion.

Posted: April 6, 2010 in Beta Sites, Fashion, Social New Media Knowledge, Web Trends
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Focusing on fashion, consumers will soon be able to fund designers directly through a website called FashionStake in return for credits on clothes. This model offers an alternative to purchasing from retailers and the communication channels of this model allows for the unique opportunity of supporting the creative process.

Not sure if it will have the same effect as the music industry had with peer-to-peer as suggested by Reuters below, but ‘crowd funding’ models are probably here to stay, and will probably sit alongside existing retail channels. If the model exceeds expectations, then there is no reason why high street retailers cannot begin to try similar models.

Nike has been offering personal sports shoes for some time now through Nike ID. So although this may not be as personal as what FashionStake are offering, but by simply giving consumers the chance to contribute is definitely a way forward.

Content Courtesy of Reuters :

NEW YORK, April 1 (Reuters) – An Internet start-up called Fashion Stake launching in coming weeks aims to shake up the fashion industry, just as peer-to-peer file sharing changed the music industry.

Fashion Stake will allow customers to directly fund fashion designers by browsing on-line collections and buying a stake in a collection in return for credits to buy clothes. Patrons can also share ideas with designers and vote on collections.

Read the full article at :

http://smallbusiness.uk.reuters.com/2010/04/06/new-website-brings-crowd-sourcing-to-fashion/

Find out more about FashionStake at :

http://www.fashionstake.com/

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